Why AirSculpt Technologies Shares Are Trading Higher Today

AirSculpt Technologies Inc AIRS expects above-consensus Q2 revenues and reiterated its 2023 outlook.

The company expects a revenue increase of 12.2% Y/Y to around $55.7 million versus the consensus of $53.68 million. 

"The results for the second quarter for both revenue and Adjusted EBITDA are ahead of our expectations and speak to the continued demand for AirSculpt. We are very pleased with our performance through the first half of 2023. We continue to focus our attention on strengthening the organization focusing on revenue growth, which includes ramping up our de novo expansion program, and right sizing our cost structure," said Todd Magazine, CEO. 

2023 Reiterated: AIRS reaffirmed revenue guidance of $187 million-$192 million (consensus: $190.85 million), expecting to achieve the upper end of this range. 

The company projects an adjusted EBITDA of $48 million-$50 million in the year.

After adjusting for pre-opening de novo and relocation costs of around $5.0 million, AIRS projects adjusted EBITDA of $43 million-$45 million, expecting to perform at the upper end of this range.

AIRS expects to open five new centers in 2023, with three centers to open in H1 and two more in July, ahead of the original plan. 

The company expects to report its Q2 results on August 11, 2023.

Price Action: AIRS shares are trading higher by 7.14% at $9.00 premarket on the last check Tuesday.