AirSculpt Technologies, Inc.
- Open
- 4.46
- Day high
- 4.70
- Day low
- 4.45
- Prev close
- 4.50
- Volume
- 183K
- Mkt cap
- $326M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 3.3
- P/S
- 2.1
- Yield
- —
- Per share
- —
- ▲Insiders net buying $583K over the last 3 months (4 open-market buys, 0 sales)
- 🏛Institutions mixed (13F)
AirSculpt Technologies, Inc. (AIRS) is a Healthcare company listed on NASDAQ. The stock is down 14% over the past year. Over the trailing 3 months, insiders filed 4 open-market buys and 0 sales (SEC Form 4).
AirSculpt Technologies, Inc. (AIRS) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
AIRS earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 8, 2026 | $-0.02 | $-0.03 | -50.0% | $39M | +0.5% |
| Nov 7, 2025 | $-0.01 | $-0.04 | -300.0% | $35M | +0.2% |
| Aug 1, 2025 | $0.02 | $0.02 | +0.0% | $44M | +10.6% |
| May 2, 2025 | $-0.03 | $-0.02 | +33.3% | $39M | -14.5% |
| Mar 14, 2025 | $0.02 | $-0.08 | -500.0% | $39M | -21.2% |
| Nov 8, 2024 | $-0.01 | $-0.02 | -100.0% | $43M | -4.5% |
| Aug 9, 2024 | $0.13 | $0.09 | -30.8% | $51M | -7.7% |
| May 10, 2024 | $0.08 | $0.03 | -62.5% | $48M | -4.4% |
| Feb 27, 2024 | $0.11 | $0.01 | -90.9% | $48M | -1.0% |
| Nov 9, 2023 | $0.09 | $0.05 | -44.4% | $47M | -2.7% |
| Aug 11, 2023 | $0.15 | $0.13 | -13.3% | $56M | +3.0% |
| May 12, 2023 | $0.05 | $0.10 | +100.0% | $46M | +6.6% |
AIRS insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 14, 2026 | Chu Carolinedirector | Grant | 100,286 | — |
| May 14, 2026 | Higgins Kennethdirector | Grant | 100,286 | — |
| May 14, 2026 | Aaron Thomas Jdirector | Grant | 100,286 | — |
| Apr 20, 2026 | Chernett Jorey10 percent owner | Buy | 40,000 | $2.54 |
| Apr 15, 2026 | Chernett Jorey10 percent owner | Buy | 20,000 | $2.60 |
| Apr 10, 2026 | Arthur Michael Jofficer: Chief Financial Officer | Grant | 68,027 | — |
| Apr 10, 2026 | WADMAN BRENT Rofficer: GENERAL COUNSEL | Grant | 55,272 | — |
| Apr 10, 2026 | Jashnani Yogeshdirector, officer: Chief Executive Officer | Grant | 238,095 | — |
| Apr 8, 2026 | Chernett Jorey10 percent owner | Buy | 60,000 | $2.93 |
| Apr 6, 2026 | Chernett Jorey10 percent owner | Buy | 90,000 | $2.82 |
| Mar 25, 2026 | Chernett Jorey10 percent owner | Buy | 2,000 | $5.00 |
| Mar 25, 2026 | Chernett Jorey10 percent owner | Buy | 2,004 | $4.00 |
| Mar 25, 2026 | Chernett Jorey10 percent owner | Sell | 6,547 | $2.00 |
| Mar 25, 2026 | Chernett Jorey10 percent owner | Buy | 2,255 | $2.00 |
| Mar 25, 2026 | Chernett Jorey10 percent owner | Buy | 50,000 | $2.91 |
Source: AIRS SEC Form 4 filings, latest May 14, 2026. For informational purposes only — not investment advice.
See the full AIRS insider & 13F page →AirSculpt Technologies, Inc. company profile
Overview
AirSculpt Technologies, Inc. (NASDAQ:AIRS) is a specialized medical services company founded in 2012 and headquartered in Miami Beach, Florida. The company went public in October 2021 and operates a network of medical centers focused exclusively on minimally invasive body contouring procedures. AirSculpt has grown from a single location to over 28 centers across 15 states and internationally, including its first overseas location in London. The company has faced significant operational challenges in recent years, with declining revenues and profitability as it navigates a difficult macroeconomic environment affecting elective cosmetic procedures.
Business
AirSculpt Technologies operates in the aesthetic medical services industry, specifically focusing on body contouring and fat removal procedures. The company's core offering is the proprietary AirSculpt procedure, which is a minimally invasive alternative to traditional liposuction that removes unwanted fat without the use of general anesthesia, needles, stitches, or scalpels. The AirSculpt procedure uses a patented technology that creates a small, precise entry point through which fat is removed using a gentle suction process. Unlike traditional liposuction, patients remain awake during the procedure and can typically return to normal activities within 24-48 hours. The removed fat can also be purified and transferred to other areas of the body for enhancement procedures. The company offers several specialized procedures within its body contouring portfolio: Power BBL (Brazilian butt lift procedure that transfers fat to enhance buttocks), Up a Cup (breast enhancement using the patient's own fat), Hip Flip (hourglass contouring procedure), and AirSculpt Lift (facial fat transfer procedure launched in 2023). The company also provides traditional fat removal across various treatment areas including abdomen, thighs, arms, and back. AirSculpt operates as a single business segment focused entirely on body contouring services, with all revenue derived from procedure fees. The company has been exploring complementary services such as standalone skin tightening procedures, particularly targeting patients using GLP-1 weight loss medications who may experience loose skin after significant weight loss.
Revenue model
AirSculpt generates revenue through a fee-for-service model where patients pay directly for individual procedures. The average revenue per case is approximately $12,800-$13,000, with procedures typically ranging from single-area treatments to comprehensive multi-area body contouring sessions. Patients are the direct paying customers, and the company targets affluent consumers who can afford elective cosmetic procedures, typically priced between $8,000-$25,000 depending on complexity. The company offers various payment options including cash, financing through third-party providers, and extended payment plans of 18-24 months for qualified patients. AirSculpt does not accept insurance as these are elective cosmetic procedures. The business model is inherently cash-generative with patients typically paying upfront or through immediate financing arrangements. Several factors significantly impact AirSculpt's margins and profitability. Macroeconomic conditions heavily influence demand, as economic uncertainty causes consumers to delay discretionary spending on elective procedures. The company has experienced substantial revenue declines during periods of economic stress, with same-store sales falling over 20% in recent quarters. Marketing efficiency is crucial, as customer acquisition costs have increased from $2,250 to over $3,300 per case, directly impacting profitability. The company's ability to convert leads to actual procedures has also deteriorated in challenging economic environments. Operational leverage significantly affects margins, as the company has high fixed costs including center leases, equipment, and physician salaries. New center openings initially depress margins until they reach maturity, typically taking 12-18 months. The company's cost structure includes substantial marketing expenses, which management has been actively managing, reducing marketing spend by $4 million annually while shifting from brand awareness to more targeted paid search campaigns.
Competitive moat
AirSculpt's competitive moat appears relatively narrow and primarily based on its proprietary procedure technology and brand recognition within the body contouring market. The company's main differentiator is its patented AirSculpt technique, which offers a less invasive alternative to traditional liposuction with faster recovery times and the ability to remain awake during procedures. However, this moat faces several vulnerabilities. The aesthetic medical services industry has low barriers to entry for competitors, as other plastic surgeons and medical practices can offer similar body contouring services using alternative techniques. Traditional plastic surgery practices, dermatology clinics, and medical spas all compete for the same affluent customer base seeking body contouring services. The company's brand recognition provides some protection, having increased its media share of voice from less than 1% to 30% through marketing investments. The standardized procedure protocols and specialized training create some operational advantages over general plastic surgery practices. Additionally, the company's focus on a single procedure type allows for operational efficiency and expertise development. The primary competitive threats come from established plastic surgery practices that can offer broader service menus, emerging technologies in non-invasive body contouring (such as CoolSculpting and other energy-based devices), and new market entrants offering similar minimally invasive procedures. The company's dependence on discretionary consumer spending also makes it vulnerable to economic cycles, as demonstrated by recent performance challenges during macroeconomic uncertainty.
Risks & safety
AirSculpt's margin of safety appears concerning with several financial stress indicators present. **Liquidity and Solvency Concerns:** - Current ratio of 0.57, indicating insufficient current assets to cover short-term liabilities - Cash position of $5.6 million against $26.8 million in current liabilities - Negative working capital of approximately $11.5 million - Debt-to-equity ratio of 0.43, with total liabilities of $126 million **Profitability Challenges:** - EBITDA of only $1.7 million in Q1 2025, down from much higher historical levels - Negative net income of $8.3 million for fiscal 2024 - Free cash flow negative $2.7 million for fiscal 2024 - Adjusted EBITDA margins compressed to 11.5% in 2024 from over 20% historically **Valuation Metrics:** - EV/EBITDA of 24.9x based on recent quarterly EBITDA - Price-to-book ratio of 1.77 - Revenue declining 17% year-over-year in recent quarters **Other Considerations:** - Covenant compliance concerns with credit facility - Management guidance suggests continued pressure in 2025 - High fixed cost structure creates operational leverage risk during downturns
Recent development
Over the past few years, AirSculpt has undergone significant strategic shifts in response to challenging market conditions. The company has paused its aggressive expansion strategy, halting new center openings to focus on improving same-store performance at existing locations. This represents a major pivot from the previous growth-focused approach that saw the company opening 4-5 new centers annually. Leadership changes have been substantial, with the company conducting a global search for a permanent CEO after appointing Dennis Dean as Interim CEO. Dr. Aaron Rollins remains as Founder and Executive Chairman, but the management transition reflects the need for operational expertise during challenging times. The company has implemented a "back to basics" operational approach focusing on five key imperatives: optimizing marketing strategies by shifting from brand awareness to performance-based paid search and social media marketing; improving sales conversion through enhanced training and consultative sales models; introducing new complementary services, particularly standalone skin tightening procedures targeting the growing market of GLP-1 weight loss medication users; enhancing customer experience through improved journey mapping and technology integration; and investing in technology solutions including Salesforce CRM implementation and new payment options. Cost management has become a central focus, with the company targeting $3 million in annual cost savings through workforce reductions and operational efficiencies. Marketing spend has been strategically reduced by $4 million annually while shifting to more targeted, returns-based approaches. The company has also amended its credit agreement to provide additional financial flexibility during the turnaround period. Service expansion efforts include exploring the synergistic relationship with GLP-1 medications, as patients who lose significant weight often require body contouring and skin tightening services. The company launched AirSculpt Lift facial procedures in 2023 and is piloting skin tightening services across its center network.
AIRS company profile · for informational purposes only — not investment advice.
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