AirSculpt Technologies reports Q4 EPS (8c), consensus 2c

Reports Q4 revenue $47.6M, consensus $48.07M. “We are pleased with our fourth quarter results highlighted by growth of 17% in revenue and 28% in adjusted EBITDA as compared to the fourth quarter in 2022,” said Todd Magazine, CEO of AirSculpt. “Our robust top line performance continues to be driven by our de novo locations that opened over the last two years, with our 2023 centers ramping faster than their budgeted objectives. The year saw excellent progress toward our strategies of increasing AirSculpt brand recognition, accelerating our store openings and expanding our profit margins as we scale our business both domestically and internationally. To this end, the year saw us increase brand awareness by 30%, open five locations-the most in our history-and expand Adjusted EBITDA margin to 22.1%. Our adjusted EBITDA margin for the quarter was 21.2%, a 180 basis point improvement over the prior year period which is the result of our increased focus on cost management. Importantly our margin expansion would have been even more substantial, but we decided late in the quarter to make additional awareness-building investments as this initiative continues to achieve its objective of driving brand recognition. We enter 2024 very optimistic about our growth potential, both in existing and new markets. We look forward to another strong year of double-digit revenue and adjusted EBITDA growth in 2024.”