Download PDF

1. Company Snapshot

1.a. Company Description

AirSculpt Technologies, Inc., together with its subsidiaries, focuses on operating as a holding company for EBS Intermediate Parent LLC that provides body contouring procedure services in the United States.It offers custom body contouring using its AirSculpt procedure that removes unwanted fat in a minimally invasive procedure.The company provides fat removal procedures across treatment areas; and fat transfer procedures that use the patient's own fat cells to enhance the breasts, buttocks, hips, or other areas.


Its body contouring procedures also include the Power BBL, a Brazilian butt lift procedure; the Up a Cup, a breast enhancement procedure; and the Hip Flip, an hourglass contouring procedure.As of March 10, 2022, it operated 19 centers across 15 states.AirSculpt Technologies, Inc.


was founded in 2012 and is headquartered in Miami Beach, Florida.

Show Full description

1.b. Last Insights on AIRS

AirSculpt Technologies' recent stock performance has been negatively driven by its downgraded rating to Zacks Rank #5 (Strong Sell) on January 8, 2024. Furthermore, the company's decision to update its fiscal year 2024 guidance in conjunction with the ICR Conference 2025 on January 13, 2025, indicates potential cautiousness about its financial performance. The announcement of its fourth quarter fiscal 2024 earnings release date on March 6, 2025, may also imply a focus on damage control rather than growth.

1.c. Company Highlights

2. AirSculpt's Q3 2025 Earnings: A Deeper Dive into the Numbers

AirSculpt Technologies reported revenue of $35 million for Q3 2025, a 17.8% decline from the prior year quarter. The company's average revenue per case was $12,587, down 3% from the same period last year. Cases declined 15.2% to 2,780, with same-store cases down approximately 20%. The earnings per share (EPS) came in at -$0.04, missing estimates of -$0.01. Despite the decline in revenue, the company generated more than $3 million in annualized cost savings, net of investments in new growth initiatives.

Publication Date: Nov -23

📋 Highlights
  • Q3 Revenue Decline:: Revenue fell to $35 million, a 17.8% decrease YoY, with cases down 15.2% to 2,780 and same-store cases declining ~20%.
  • GLP-1 Market Opportunity:: GLP-1 prescriptions grew 38% annually between 2022–2024, driving demand for new skin excision procedures with better conversion rates among GLP-1 users.
  • Cost Savings & Debt Repayment:: Achieved $3 million in annualized cost savings and repaid $18 million of debt year-to-date, improving leverage ratio to 3.04x by Q3 end.
  • 2025 Revenue Outlook:: Full-year revenue revised to ~$153 million (down from $160–$170 million), with EBITDA expected at ~$16 million (bottom of $16–$18 million range).
  • London Center Performance:: Generated $1.4 million in revenue for the first nine months, with adjusted EBITDA at -$600,000, indicating ongoing operational challenges.

Operational Performance and Strategic Focus

The company's operational performance was impacted by a decline in same-store sales, but AirSculpt is adapting its strategy to capitalize on the growing GLP-1 opportunity. The company is introducing new services, including skin excision procedures, to address the needs of GLP-1 users. According to the management, "We're seeing a high percentage of GLP-1 patients seeking aesthetic treatments post-use, representing new consumers to the market." This shift in strategy is expected to drive growth in the long term.

Financial Discipline and Debt Repayment

AirSculpt has maintained its focus on financial discipline, repaying nearly $18 million of its debt year-to-date. The company's leverage ratio, as calculated according to its credit agreement, was 3.04x on September 30, 2025. The company is committed to continuing its debt repayment and expects to unlock incremental value from its current operations, which is anticipated to expand its operating margin going forward.

Valuation and Growth Prospects

With a P/S Ratio of 1.45 and an EV/EBITDA of -143.17, the market is pricing in significant growth prospects for AirSculpt. Analysts estimate revenue growth of 2.6% for the next year. While the company's ROE is -21.81%, indicating negative profitability, the management's focus on cost controls and new growth initiatives is expected to drive improvement in the long term.

Outlook and Conclusion

AirSculpt has updated its annual outlook, expecting 2025 revenue of approximately $153 million, compared to its previous guidance of $160 million to $170 million. The company expects 2025 EBITDA of approximately $16 million, the bottom end of its guidance range. With its strategic focus on the GLP-1 opportunity and commitment to financial discipline, AirSculpt is poised to drive growth in the long term.

3. NewsRoom

Card image cap

Palo Alto Networks Announces New Prisma AIRS Integrations With Factory, Glean, IBM and ServiceNow to Secure the AI Agent Boom

Nov -18

Source: prnewswire.com

Card image cap

AirSculpt Technologies Appoints Mike Doyle as Non-Executive Chairman of the Board

Nov -17

Source: globenewswire.com

Card image cap

AirSculpt Technologies, Inc. (AIRS) Q3 2025 Earnings Call Transcript

Nov -07

Source: seekingalpha.com

Card image cap

AirSculpt Technologies, Inc. (AIRS) Reports Q3 Loss, Misses Revenue Estimates

Nov -07

Source: zacks.com

Card image cap

AirSculpt Technologies Reports Third Quarter Fiscal 2025 Results

Nov -07

Source: globenewswire.com

Card image cap

AirSculpt Technologies Announces Third Quarter Fiscal 2025 Earnings Release Date and Conference Call

Oct -31

Source: globenewswire.com

Card image cap

AirSculpt Technologies: Upgrading To Buy On Improving Fundamentals

Oct -29

Source: seekingalpha.com

Card image cap

Palo Alto Networks Secures the AI Agent Revolution with the Launch of Prisma AIRS 2.0

Oct -28

Source: prnewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (11.00%)

6. Segments

Direct Medical Procedure Services

Expected Growth: 11%

AirSculpt Technologies, Inc.'s 11% growth in Direct Medical Procedure Services is driven by increasing demand for minimally invasive procedures, expansion into new markets, and strategic partnerships. Additionally, the company's proprietary technology and high patient satisfaction rates contribute to its growth. Furthermore, the growing awareness of body contouring and fat removal procedures among consumers also fuels the segment's growth.

7. Detailed Products

AirSculpt Power

A minimally invasive fat removal procedure that uses advanced technology to remove unwanted fat without the need for surgery or downtime.

AirSculpt Pure

A fat transfer procedure that harvests and transfers fat to enhance the shape and size of the breasts, buttocks, or face.

AirSculpt Precision

A precise and minimally invasive procedure that targets small areas of fat, such as the chin, knees, or ankles.

AirSculpt Elite

A comprehensive body contouring procedure that combines fat removal and skin tightening to achieve a more toned and refined physique.

8. AirSculpt Technologies, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

AirSculpt Technologies, Inc. has a moderate threat of substitutes due to the presence of alternative cosmetic procedures and treatments.

Bargaining Power Of Customers

AirSculpt Technologies, Inc. has a low bargaining power of customers due to the unique and personalized nature of its services.

Bargaining Power Of Suppliers

AirSculpt Technologies, Inc. has a moderate bargaining power of suppliers due to the availability of multiple suppliers for its equipment and materials.

Threat Of New Entrants

AirSculpt Technologies, Inc. has a high threat of new entrants due to the growing demand for cosmetic procedures and the relatively low barriers to entry.

Intensity Of Rivalry

AirSculpt Technologies, Inc. operates in a highly competitive industry with many established players, leading to a high intensity of rivalry.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 47.83%
Debt Cost 3.95%
Equity Weight 52.17%
Equity Cost 13.10%
WACC 8.72%
Leverage 91.68%

11. Quality Control: AirSculpt Technologies, Inc. passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Healthcare Services Group

A-Score: 4.8/10

Value: 4.0

Growth: 2.9

Quality: 5.8

Yield: 2.0

Momentum: 9.5

Volatility: 4.7

1-Year Total Return ->

View Full Report
Stock-Card
Brookdale Senior Living

A-Score: 3.9/10

Value: 5.1

Growth: 3.1

Quality: 2.1

Yield: 0.0

Momentum: 9.0

Volatility: 4.3

1-Year Total Return ->

View Full Report
Stock-Card
Sonida Senior Living

A-Score: 3.9/10

Value: 5.8

Growth: 2.7

Quality: 2.1

Yield: 0.0

Momentum: 7.5

Volatility: 5.3

1-Year Total Return ->

View Full Report
Stock-Card
AirSculpt Technologies

A-Score: 3.7/10

Value: 4.6

Growth: 4.8

Quality: 2.5

Yield: 1.0

Momentum: 8.0

Volatility: 1.3

1-Year Total Return ->

View Full Report
Stock-Card
AMN Healthcare Services

A-Score: 3.4/10

Value: 9.2

Growth: 4.7

Quality: 3.0

Yield: 0.0

Momentum: 0.0

Volatility: 3.7

1-Year Total Return ->

View Full Report
Stock-Card
The Joint

A-Score: 3.2/10

Value: 3.3

Growth: 3.3

Quality: 4.9

Yield: 0.0

Momentum: 3.5

Volatility: 4.0

1-Year Total Return ->

View Full Report

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

2.4$

Current Price

3.04$

Potential

-21.07%

Expected Cash-Flows