Airsculpt Technologies, Inc. Financials
This page shows Airsculpt Technologies, Inc. (AIRS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Positive free cash flow has become capex-driven, while shrinking revenue no longer covers the company’s fixed selling infrastructure.
By FY2025, free cash flow turned barely positive at$692K even as operating cash flow fell to$3.1M ; that gap means cash preservation came mostly from cutting reinvestment, not from healthier day-to-day operations. The contrast with FY2023, when operating cash flow was$24.0M and capex was$9.9M , shows a business protecting liquidity by spending less rather than converting profits more efficiently.
Revenue fell from
Long-term debt fell to
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Airsculpt Technologies, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Airsculpt Technologies, Inc. scores 2.21, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($329.4M) relative to total liabilities ($99.6M). This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Airsculpt Technologies, Inc. passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Airsculpt Technologies, Inc. generates $-0.27 in operating cash flow ($3.1M OCF vs -$11.7M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Airsculpt Technologies, Inc. earns $-1.9 in operating income for every $1 of interest expense (-$11.6M vs $6.1M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Airsculpt Technologies, Inc. generated $151.8M in revenue in fiscal year 2025. This represents a decrease of 15.8% from the prior year.
Airsculpt Technologies, Inc.'s EBITDA was $1.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 88.2% from the prior year.
Airsculpt Technologies, Inc. reported -$11.7M in net income in fiscal year 2025. This represents a decrease of 45.5% from the prior year.
Airsculpt Technologies, Inc. earned $-0.19 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 35.7% from the prior year.
Cash & Balance Sheet
Airsculpt Technologies, Inc. generated $692K in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 126.0% from the prior year.
Airsculpt Technologies, Inc. held $8.4M in cash against $50.6M in long-term debt as of fiscal year 2025.
Airsculpt Technologies, Inc. had 65M shares outstanding in fiscal year 2025. This represents an increase of 10.6% from the prior year.
Margins & Returns
Airsculpt Technologies, Inc.'s gross margin was 59.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 1.2 percentage points from the prior year.
Airsculpt Technologies, Inc.'s operating margin was -7.6% in fiscal year 2025, reflecting core business profitability. This is down 6.7 percentage points from the prior year.
Airsculpt Technologies, Inc.'s net profit margin was -7.7% in fiscal year 2025, showing the share of revenue converted to profit. This is down 3.2 percentage points from the prior year.
Airsculpt Technologies, Inc.'s ROE was -13.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 3.1 percentage points from the prior year.
Capital Allocation
Airsculpt Technologies, Inc. invested $2.4M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 82.8% from the prior year.
AIRS Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $39.4M+17.8% | $33.4M-4.4% | $35.0M-20.5% | $44.0M+11.8% | $39.4M+0.5% | $39.2M-7.9% | $42.5M-16.6% | $51.0M |
| Cost of Revenue | $15.6M+14.0% | $13.7M-8.0% | $14.9M-13.6% | $17.2M+7.8% | $15.9M-3.4% | $16.5M-7.0% | $17.8M-5.6% | $18.8M |
| Gross Profit | $23.8M+20.4% | $19.8M-1.8% | $20.1M-24.9% | $26.8M+14.5% | $23.4M+3.3% | $22.7M-8.5% | $24.8M-23.0% | $32.2M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $22.6M+24.0% | $18.2M-6.7% | $19.5M-13.9% | $22.7M+4.1% | $21.8M-6.8% | $23.4M-8.4% | $25.5M-25.6% | $34.3M |
| Operating Income | -$1.8M-78.9% | -$1.0M+89.7% | -$9.8M-1340.5% | $786K+149.5% | -$1.6M+59.2% | -$3.9M-4.9% | -$3.7M+25.4% | -$5.0M |
| Interest Expense | $1.2M-19.3% | $1.5M+5.5% | $1.4M-9.9% | $1.6M-3.9% | $1.6M+1.0% | $1.6M+1.1% | $1.6M+5.0% | $1.5M |
| Income Tax | -$465K+87.7% | -$3.8M-129.4% | -$1.6M-789.2% | -$185K+49.6% | -$367K+48.0% | -$706K-196.3% | $733K+122.3% | -$3.3M |
| Net Income | -$2.4M-286.8% | $1.3M+113.5% | -$9.5M-1509.5% | -$591K+79.2% | -$2.8M+40.7% | -$4.8M+20.5% | -$6.0M-88.4% | -$3.2M |
| EPS (Diluted) | $-0.03 | N/A | $-0.15-1400.0% | $-0.01+80.0% | $-0.05 | N/A | $-0.10-66.7% | $-0.06 |
AIRS Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $192.0M+2.5% | $187.3M+0.7% | $185.9M-6.3% | $198.4M-2.4% | $203.3M-4.5% | $212.8M+2.2% | $208.2M-0.9% | $210.1M |
| Current Assets | $24.3M+57.4% | $15.5M+26.5% | $12.2M-25.5% | $16.4M+7.2% | $15.3M-10.6% | $17.1M+32.8% | $12.9M-40.6% | $21.7M |
| Cash & Equivalents | $16.7M+97.5% | $8.4M+56.3% | $5.4M-34.0% | $8.2M+47.5% | $5.6M-32.6% | $8.2M+37.9% | $6.0M-39.5% | $9.9M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $81.7M0.0% | $81.7M0.0% | $81.7M0.0% | $81.7M0.0% | $81.7M0.0% | $81.7M0.0% | $81.7M0.0% | $81.7M |
| Total Liabilities | $91.7M-7.9% | $99.6M-4.1% | $103.8M-3.2% | $107.2M-14.9% | $125.9M-6.4% | $134.6M+7.1% | $125.7M+0.5% | $125.1M |
| Current Liabilities | $32.5M+16.4% | $27.9M+15.5% | $24.2M-6.5% | $25.8M-3.6% | $26.8M-7.5% | $28.9M+14.2% | $25.3M+0.9% | $25.1M |
| Long-Term Debt | $39.4M-22.2% | $50.6M-2.5% | $51.9M-2.4% | $53.2M-17.2% | $64.3M-1.8% | $65.5M-1.5% | $66.4M-1.7% | $67.5M |
| Total Equity | $100.3M+14.3% | $87.7M+6.8% | $82.1M-9.9% | $91.2M+19.6% | $76.2M-2.5% | $78.2M-5.3% | $82.5M-2.9% | $85.0M |
| Retained Earnings | -$43.0M-5.9% | -$40.6M+0.4% | -$40.8M-30.4% | -$31.2M-1.9% | -$30.6M-6.0% | -$28.9M-27.0% | -$22.8M-36.1% | -$16.7M |
AIRS Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $5.3M+308.3% | -$2.5M-1024.9% | -$225K-104.5% | $5.0M+474.2% | $868K-68.0% | $2.7M+48.3% | $1.8M-46.8% | $3.4M |
| Capital Expenditures | $51K-12.1% | $58K-67.8% | $180K-32.1% | $265K-86.1% | $1.9M-46.1% | $3.5M-28.0% | $4.9M+21.9% | $4.0M |
| Free Cash Flow | $5.2M+301.6% | -$2.6M-539.3% | -$405K-108.6% | $4.7M+556.8% | -$1.0M-26.7% | -$815K+73.4% | -$3.1M-432.8% | -$576K |
| Investing Cash Flow | -$51K+12.1% | -$58K+67.8% | -$180K+32.1% | -$265K+86.1% | -$1.9M+46.1% | -$3.5M+28.0% | -$4.9M-21.9% | -$4.0M |
| Financing Cash Flow | $3.0M-46.4% | $5.6M+336.8% | -$2.4M-14.2% | -$2.1M-26.3% | -$1.6M-153.6% | $3.1M+473.1% | -$825K-56.5% | -$527K |
| Dividends Paid | N/A | $0 | $0 | $0 | $0-100.0% | $238K | $0-100.0% | $14K |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
AIRS Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 60.4%+1.3pp | 59.1%+1.6pp | 57.5%-3.4pp | 60.9%+1.4pp | 59.5%+1.6pp | 57.9%-0.4pp | 58.2%-4.8pp | 63.1% |
| Operating Margin | -4.6%-1.6pp | -3.0%+24.9pp | -27.9%-29.6pp | 1.8%+5.8pp | -4.0%+5.9pp | -10.0%-1.2pp | -8.7%+1.0pp | -9.8% |
| Net Margin | -6.1%-9.9pp | 3.8%+31.0pp | -27.2%-25.8pp | -1.3%+5.9pp | -7.2%+5.0pp | -12.3%+1.9pp | -14.2%-7.9pp | -6.3% |
| Return on Equity | -2.4%-3.9pp | 1.5%+13.1pp | -11.6%-10.9pp | -0.7%+3.1pp | -3.7%+2.4pp | -6.1%+1.2pp | -7.3%-3.6pp | -3.8% |
| Return on Assets | -1.3%-1.9pp | 0.7%+5.8pp | -5.1%-4.8pp | -0.3%+1.1pp | -1.4%+0.9pp | -2.3%+0.6pp | -2.9%-1.4pp | -1.5% |
| Current Ratio | 0.75+0.2 | 0.55+0.0 | 0.51-0.1 | 0.64+0.1 | 0.57-0.0 | 0.59+0.1 | 0.51-0.4 | 0.86 |
| Debt-to-Equity | 0.39-0.2 | 0.58-0.1 | 0.63+0.0 | 0.58-0.3 | 0.840.0 | 0.84+0.0 | 0.80+0.0 | 0.79 |
| FCF Margin | 13.3%+21.0pp | -7.7%-6.6pp | -1.2%-11.9pp | 10.7%+13.3pp | -2.6%-0.5pp | -2.1%+5.1pp | -7.2%-6.1pp | -1.1% |
Note: The current ratio is below 1.0 (0.55), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Airsculpt Technologies, Inc.'s annual revenue?
Airsculpt Technologies, Inc. (AIRS) reported $151.8M in total revenue for fiscal year 2025. This represents a -15.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Airsculpt Technologies, Inc.'s revenue growing?
Airsculpt Technologies, Inc. (AIRS) revenue declined by 15.8% year-over-year, from $180.3M to $151.8M in fiscal year 2025.
Is Airsculpt Technologies, Inc. profitable?
No, Airsculpt Technologies, Inc. (AIRS) reported a net income of -$11.7M in fiscal year 2025, with a net profit margin of -7.7%.
What is Airsculpt Technologies, Inc.'s EBITDA?
Airsculpt Technologies, Inc. (AIRS) had EBITDA of $1.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Airsculpt Technologies, Inc. have?
As of fiscal year 2025, Airsculpt Technologies, Inc. (AIRS) had $8.4M in cash and equivalents against $50.6M in long-term debt.
What is Airsculpt Technologies, Inc.'s gross margin?
Airsculpt Technologies, Inc. (AIRS) had a gross margin of 59.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Airsculpt Technologies, Inc.'s operating margin?
Airsculpt Technologies, Inc. (AIRS) had an operating margin of -7.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Airsculpt Technologies, Inc.'s net profit margin?
Airsculpt Technologies, Inc. (AIRS) had a net profit margin of -7.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Airsculpt Technologies, Inc.'s return on equity (ROE)?
Airsculpt Technologies, Inc. (AIRS) has a return on equity of -13.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Airsculpt Technologies, Inc.'s free cash flow?
Airsculpt Technologies, Inc. (AIRS) generated $692K in free cash flow during fiscal year 2025. This represents a 126.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Airsculpt Technologies, Inc.'s operating cash flow?
Airsculpt Technologies, Inc. (AIRS) generated $3.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Airsculpt Technologies, Inc.'s total assets?
Airsculpt Technologies, Inc. (AIRS) had $187.3M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Airsculpt Technologies, Inc.'s capital expenditures?
Airsculpt Technologies, Inc. (AIRS) invested $2.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Airsculpt Technologies, Inc.'s current ratio?
Airsculpt Technologies, Inc. (AIRS) had a current ratio of 0.55 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Airsculpt Technologies, Inc.'s debt-to-equity ratio?
Airsculpt Technologies, Inc. (AIRS) had a debt-to-equity ratio of 0.58 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Airsculpt Technologies, Inc.'s return on assets (ROA)?
Airsculpt Technologies, Inc. (AIRS) had a return on assets of -6.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Airsculpt Technologies, Inc.'s Altman Z-Score?
Airsculpt Technologies, Inc. (AIRS) has an Altman Z-Score of 2.21, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Airsculpt Technologies, Inc.'s Piotroski F-Score?
Airsculpt Technologies, Inc. (AIRS) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Airsculpt Technologies, Inc.'s earnings high quality?
Airsculpt Technologies, Inc. (AIRS) has an earnings quality ratio of -0.27x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Airsculpt Technologies, Inc. cover its interest payments?
Airsculpt Technologies, Inc. (AIRS) has an interest coverage ratio of -1.9x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Airsculpt Technologies, Inc.?
Airsculpt Technologies, Inc. (AIRS) scores 32 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.