The following is a summary of the AirSculpt Technologies, Inc. (AIRS) Q1 2024 Earnings Call Transcript:

Financial Performance:

• AirSculpt Technologies reported Q1 2024 revenue of $47.6 million, a 3.9% increase year-over-year, primarily due to new center openings.

• Same-store revenue unfortunately decreased by 9.8% amid weakening performance.

• The average revenue per case increased by 1% to $12,712, over the prior year's quarter.

• Positive improvements in cost management led to the cost of service as a percentage of revenue decreasing to 37.9% from 39.3% in Q1 2023.

• Net income per share for the quarter stood at $0.03.

• The company ended Q1 2024 with a cash position of $11 million and a cash flow from operations totaling $3.4 million.

Business Progress:

• The company is making operational progress by bringing in positive changes to their media mix, improving organic search traffic and lead generation.

• Utilization of celebrity testimonials has contributed to year-on-year growth in organic and direct traffic to their website.

• AirSculpt Technologies is on track to open six new locations in 2024, including four in Q3 2024.

• Cost management remains their focus and they plan to reinvest the savings to support customer acquisition strategies.

• Despite the challenging conditions, the company maintains its full-year outlook of approximately $220 million in revenues and approximately $50 million in adjusted EBITDA.

More details: Airsculpt Technologies IR

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