AirSculpt Technologies(AIRS) - 2025 Q1 - Quarterly Results

Financial Performance - First quarter 2025 revenue was $39.4 million, a decline of 17.3% from $47.6 million in the first quarter of fiscal year 2024[6] - The net loss for the quarter was $2.8 million, compared to a net income of $6.0 million in the first quarter of fiscal year 2024[6] - Adjusted EBITDA for the first quarter was $3.8 million, down from $7.3 million in the first quarter of fiscal year 2024[6] - Adjusted net loss for Q1 2025 was $1,108,000, while adjusted net income for Q1 2024 was $1,880,000[31] - Basic and diluted Adjusted Net Income per share for Q1 2025 was $(0.02), compared to $0.03 in Q1 2024[31] Case Volume and Revenue per Case - Case volume decreased by 17.9% to 3,076 in the first quarter of 2025, down from 3,746 in the same period last year[6] - For the three months ended March 31, 2025, the company reported 2,837 cases, a decrease of 24.3% compared to 3,746 cases in the same period of 2024[22] - The average revenue per case increased slightly to $12,799 in the first quarter of 2025 from $12,712 in the first quarter of 2024[20] - Revenue per case increased by 0.5% to $12,777 from $12,712 year-over-year[22] Cash Flow and Guidance - The company generated $0.9 million in operating cash flow for the first quarter of 2025, compared to $3.4 million for the same period in 2024[5] - As of March 31, 2025, the company had $5.6 million in cash and cash equivalents, down from $8.2 million at the end of 2023[20] - The company projects full year 2025 revenue guidance of approximately $160 to $170 million[6] - Adjusted EBITDA guidance for the full year 2025 is expected to be approximately $16 to $18 million[6] Operational Costs and Expenses - The company incurred $1,239,000 in equity-based compensation in Q1 2025, compared to a reversal of $(6,781,000) in Q1 2024[29] - Restructuring and related severance costs were $863,000 in Q1 2025, up from $296,000 in Q1 2024[29] - The company reported an interest expense of $1,625,000 in Q1 2025, slightly up from $1,532,000 in Q1 2024[29] Facilities and Services - The company maintained 27 facilities and 57 total procedure rooms in both Q1 2025 and Q1 2024[22] - The company is piloting a standalone skin tightening service, which has seen increasing interest from consumers[3]