AirSculpt Technologies (AIRS) investor relations material

Executive summary

• Revenue stabilized at $39.4 million for Q1 2026, flat year-over-year, with same-center sales up 1% and 3,082 cases performed across 31 centers in the U.S. and Canada.

• Gross margin expanded, and profitability improved due to reduced non-consumer-facing expenses and increased marketing and talent investments.

• Adjusted EBITDA was $3.3 million (8.4% margin), down from $3.8 million (9.5% margin) in Q1 2025.

• Net loss for Q1 2026 was $2.4 million, an improvement from $2.8 million in Q1 2025.

• Strategic priorities include new services for the GLP-1 market, enhanced sales and marketing, and strong financial discipline.

Financial highlights

• Revenue per case was $12,780, nearly unchanged from $12,799 in Q1 2025.

• Cost of services was $15.6 million, with a decrease of $0.4 million (2.3%) year-over-year mainly due to lower medical payroll.

• Selling, general, and administrative expenses increased by $0.8 million (3.7%), driven by higher advertising and professional service fees.

• Interest expense declined to $1.2 million from $1.6 million due to principal prepayments.

• Cash at quarter end was $16.7 million; $11 million of debt repaid, reducing gross debt to $44.8 million.

Outlook and guidance

• Full-year 2026 revenue expected between $151 million and $157 million; Adjusted EBITDA between $15 million and $17 million.

• Guidance assumes ~3% comparable growth excluding London, with no new center openings planned for 2026.

• Sequential improvement in revenue and EBITDA expected in Q2, the seasonally strongest quarter.

• Management expects cash generated from operations to be sufficient for working capital, liquidity obligations, and debt payments for at least the next 12 months.

• Management expects continued momentum and progress toward consistent revenue and profit growth.