AirSculpt (AIRS) investor relations material

Business overview and market position

• Operates 32 corporately owned body contouring centers across the US, Canada, and the UK, with over 75,000 procedures performed to date.

• Offers minimally invasive, patented fat removal procedures, with up to 10 pounds removed per session and no general anesthesia required.

• Services include fat removal, fat transfer, skin tightening, cellulite removal, and facial volume restoration, all in a premium setting.

• Targets affluent, predominantly female customers aged 30–50, with household incomes typically above $150,000.

• Recovery time is rapid, with most patients resuming normal activities within 24 hours.

Financial performance and business model

• Generates $12,000–$13,000 in revenue per case, with average profit per case around $8,000.

• 2024 revenue was approximately $180 million, with $21 million in adjusted EBITDA; Q2 revenue was $44 million with $6 million EBITDA.

• Has doubled its center footprint since 2021, funding all growth through free cash flow without new debt.

• Maintains a high variable cost model and low maintenance capital requirements, supporting strong cash flow.

• Paid down debt from $85 million in 2021 to $58 million by Q2 2024, aided by an equity offering.

Strategic focus and operational initiatives

• Paused new center openings for 2025 to focus on returning existing centers to same-store growth amid macroeconomic pressures.

• Identified over 100 potential new locations in the US and up to 200 with Canada, indicating significant expansion runway.

• Current priorities include strengthening company culture, optimizing marketing and sales, expanding service offerings, and investing in technology.

• Achieved record lead generation and reduced customer acquisition costs by reallocating marketing spend and enhancing digital strategies.

• Launched a pilot for standalone skin tightening services, targeting demand from patients experiencing skin laxity, including those using GLP-1 drugs.