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

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.