AirSculpt Technologies Reports 2025 Financial Results, Projects Revenue Growth and Improved EBITDA for 2026

AirSculpt Technologies Reports Q4 and Full Year 2025 Results; Issues 2026 Outlook

Key Highlights

Q4 2025 Revenue: \$33.4 million, a 14.6% year-over-year decline
Full Year 2025 Revenue: \$151.8 million, down 15.8% from 2024
Q4 2025 Net Loss: \$1.3 million (improved from \$5.0 million loss in Q4 2024)
Full Year 2025 Net Loss: \$11.7 million (vs. \$8.0 million loss in 2024)
Adjusted EBITDA (Q4 2025): \$(0.1) million, down from \$1.9 million in Q4 2024
Adjusted EBITDA (Full Year 2025): \$12.5 million, down from \$21.0 million in 2024
Case Volume (Q4 2025): 2,604, down 15.0% YoY
Case Volume (Full Year 2025): 11,852, down 15.6% YoY
Positive Same-Store Sales Growth Achieved in February 2026
2026 Outlook: Revenue projected at \$150–\$157 million; Adjusted EBITDA at \$15–\$17 million
London Facility Closed; One-Time Non-Cash Adjustments Impacted Prior Guidance
Company Raised \$14.8 Million in Q1 2026 and Reduced Debt by \$11 Million

Detailed Report

AirSculpt Technologies, Inc. (NASDAQ: AIRS), a national provider of premium body contouring procedures, released its financial results for the fourth quarter and full fiscal year ended December 31, 2025.

CEO Commentary

Yogi Jashnani, Chief Executive Officer, commented on the company’s progress: “In the fourth quarter, we delivered sequential improvement in same-store sales versus the first nine months of the year. During 2025, we took significant steps to enhance our business approach and team. We added talent, improved business processes, implemented a new go-to-market strategy, and added new procedures that expanded our market potential. The results of this work are already evident. We entered fiscal 2026 with same-store sales turning positive in February and enhanced financial flexibility to fuel our growth. AirSculpt is scaled, trusted, and strongly positioned at the intersection of aesthetics and GLP-1’s. I’m confident our strategy positions us to create meaningful value for our shareholders.”

Fourth Quarter 2025 Performance

Case volume fell by 15.0% year-over-year to 2,604 (from 3,064 in Q4 2024)
Revenue declined 14.6% to \$33.4 million (from \$39.2 million)
Net loss narrowed to \$1.3 million (from \$5.0 million loss a year ago)
Adjusted EBITDA was \$(0.1) million, compared to \$1.9 million in Q4 2024

Full Year 2025 Results

Case volume dropped 15.6% to 11,852 (from 14,036 in 2024)
Revenue fell 15.8% to \$151.8 million (from \$180.4 million)
Net loss widened to \$11.7 million (from \$8.0 million in 2024)
Adjusted EBITDA came in at \$12.5 million, down from \$21.0 million

2026 Outlook and Guidance

Full year 2026 revenue projected between \$150 million and \$157 million
Adjusted EBITDA expected in the range of \$15 million to \$17 million
Q1 2026 revenue guidance: \$38.5–\$39.5 million, with same-store revenue expected to be approximately flat at the midpoint

Operational Updates and Shareholder-Impacting Events

London Facility Closure: The company closed its London facility, resulting in a one-time non-cash adjustment that affected previously reported Adjusted EBITDA, Adjusted EBITDA Margin, and Adjusted Net (Loss)/Income. The updated report reflects these corrections.
Balance Sheet and Liquidity:
- Cash and cash equivalents as of December 31, 2025: \$8.4 million
- Available borrowing capacity under revolving credit facility: \$5.0 million
- Gross debt: \$56.0 million (reduced to \$45.0 million in Q1 2026)
- Raised \$14.8 million in Q1 2026 through an at-the-market offering, and repaid \$11.0 million in debt
- Company remains in compliance with all debt covenants
Impairments and Adjustments:
- \$4.5 million loss related to impairment of a portion of the Salesforce implementation project in 2025
- \$2.2 million in costs related to closure of the London facility (including a \$2.4 million loss on PPE and \$3.3 million rent expense from accelerated amortization, offset by a \$3.2 million gain on deconsolidation and \$0.3 million income from CTA reclassification)
- Rent expense from accelerated amortization (about \$1.1 million) reclassified from SG&A for presentation purposes
Shareholder Equity: Ended 2025 with \$87.7 million in stockholders’ equity (up from \$78.2 million in 2024).
Facility Footprint: 31 facilities in operation at year-end 2025, down from 32 a year earlier, reflecting the London closure.

Same-Store Sales and Revenue per Case

Revenue per case remained stable, at \$12,809 for full year 2025 vs. \$12,849 for 2024
Q4 2025 revenue per case: \$12,843 (up slightly from \$12,787 in Q4 2024)
Same-center case growth was -18.5% in Q4 2025 and -22.1% for the full year
Same-center revenue growth remained flat to slightly positive, as new procedures and improved business processes began to offset volume declines

Forward-Looking Statements and Risks

The company cautions that its projections and forward-looking statements involve risks and uncertainties, including but not limited to: inability to raise capital or sell securities, dilution from future financings, failure to stabilize same-store performance, inability to optimize marketing or expand consumer financing, unsuccessful product innovation, rising inflation or competition (including new weight-loss drugs), and other macroeconomic or regulatory factors.
Investors are strongly advised to review the company’s risk factors in the latest Annual Report and SEC filings.

Potentially Price-Sensitive Items for Investors

Closure of the London facility and the resulting one-time adjustments to key financial metrics may affect investor perception of the company’s ongoing profitability and operating leverage.
Reduction in case volume and revenue for 2025, though partially offset by improved same-store trends in early 2026, may signal ongoing challenges in growth and market demand.
Positive same-store sales in February 2026 could be interpreted as an inflection point if sustained, potentially supporting a turnaround narrative.
Significant debt reduction in Q1 2026 (\$11 million repaid) and new capital raised (\$14.8 million) improve liquidity and financial flexibility, which may be viewed favorably by shareholders.
Adjusted EBITDA margin compression (to 8.2% from 11.6% in 2024) and the company’s inability to provide net income guidance due to unpredictable elements (like equity compensation) may increase uncertainty regarding future profitability.

Conference Call Information

AirSculpt will host a conference call on April 2, 2026, at 8:30 a.m. Eastern Time. Investors can access the call via the company’s IR website or dial in using the numbers provided in the release. A webcast replay will be available for 90 days.

About AirSculpt Technologies

AirSculpt is a next-generation, minimally invasive body contouring treatment. The procedure removes fat and tightens skin with minimal downtime, bruising, and scarring, available exclusively at AirSculpt offices.

Disclaimer

This article is for informational purposes only and does not constitute investment advice. All forward-looking statements are subject to risks and uncertainties, and actual results may differ materially. Investors should consult the company’s filings with the SEC and their financial advisors before making any investment decisions.