AirSculpt Technologies Reports Second Quarter Fiscal 2026 Results
Rhea-AI Summary
AirSculpt Technologies (NASDAQ:AIRS) reported fiscal Q2 2026 revenue of $42.9 million, down 3% year over year, on case volume of 3,376, down 0.5%. Net loss widened to $1.1 million from $0.6 million, while Adjusted EBITDA declined to $4.9 million from $5.8 million, with an 11.5% margin.
Same-center cases grew 1.0% in Q2 and 1.1% year-to-date, with essentially flat same-center sales. Year-to-date revenue fell 1.3% to $82.3 million and net loss was $3.5 million. According to the company, an exclusive partnership with AlloClae is expected to broaden its injectable adipose matrix offering.
Since early 2025, gross debt fell by about $30 million to $44.2 million and cash increased by roughly $10 million to $18.8 million. AirSculpt reaffirmed full-year 2026 revenue at the lower end of its $151–$157 million range and reduced Adjusted EBITDA guidance to $12–$14 million. A term loan amendment extends maturity to November 2027 and adds prepayment requirements tied to future equity issuance.
Positive
- Same-center case growth of 1.0% in Q2 2026 and 1.1% YTD versus prior year
- Gross debt reduced by ~${30} million since start of 2025 to $44.2 million, while cash increased by about $10 million to $18.8 million
- Adjusted net income of $0.6 million in Q2 2026 and near break-even adjusted net result YTD 2026
- Term loan maturity extended to November 2027, improving near-term refinancing visibility
- Total stockholders’ equity increased to $104.8 million at June 30, 2026 from $87.7 million at December 31, 2025
Negative
- Q2 2026 revenue declined 3% to $42.9 million; YTD revenue decreased 1.3% to $82.3 million versus 2025
- Net loss widened to $1.1 million in Q2 2026 and $3.5 million YTD, compared with $0.6 million and $3.4 million in 2025
- Adjusted EBITDA fell to $4.9 million in Q2 2026 and $8.2 million YTD, with margins down to 11.5% and 10.0% from 13.3% and 11.5%
- 2026 Adjusted EBITDA guidance reduced to $12–$14 million, with revenue only reaffirmed at the lower end of the $151–$157 million range
- Weighted-average basic shares rose to 70.8 million in Q2 2026 from 59.6 million a year earlier, indicating material dilution alongside use of an at-the-market equity program
- New term loan amendment requires a $2.5 million payment by September 30, 2026 and mandates using 50% of future equity issuance net proceeds to prepay term loans
News Explained
Existing holders face a new-share dilution mechanism, while amended debt terms commit another $2.5 million payment by September 30, 2026.
The disclosure records that AirSculpt raised
An at-the-market program lets an issuer sell new shares gradually at prevailing prices rather than in one priced deal; under the supplied dilution definition, those additional shares reduce an existing holder’s percentage ownership absent offsetting changes.
The amendment extends maturity to
The next specified financing milestone is the additional
Market reaction after 2Q26 earnings report: AIRS -13.17%
Following this news, AIRS has declined 13.17%, reflecting a significant negative market reaction. Our momentum scanner has triggered 3 alerts so far, indicating moderate trading interest and price volatility. The stock is currently trading at $4.35.
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Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Aug 03 | Earnings date announcement | Neutral | +1.6% | Announced the second-quarter results release date and conference call schedule. |
| May 27 | Investor conferences | Neutral | +2.6% | Announced participation in two upcoming investor conferences during June 2026. |
| May 08 | 1Q26 earnings report | Positive | +11.6% | Reported stable revenue, improved net loss, and reaffirmed full-year guidance. |
| May 01 | Earnings date announcement | Neutral | +23.9% | Scheduled first-quarter results and subsequent investor conference presentations. |
| Apr 06 | FY25 earnings report | Negative | -2.2% | Reported lower annual revenue, a net loss, and 2026 financial guidance. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Historical earnings reactions were mixed, with the prior quarterly report followed by a positive move and the prior full-year report followed by a negative move.
Key Terms
adjusted ebitda financial
at-the-market offering program financial
revolving credit facility financial
term loan agreement financial
injectable adipose matrix medical
AI-generated analysis. How Rhea-AI works. Not financial advice.
Same Center Cases Up
MIAMI BEACH, Fla., Aug. 10, 2026 (GLOBE NEWSWIRE) -- AirSculpt Technologies, Inc. (NASDAQ:AIRS)(“AirSculpt” or the “Company”), a national provider of premium body contouring procedures, today announced results for the second quarter ended June 30, 2026.
Yogi Jashnani, Chief Executive Officer, stated: “In the second quarter, we advanced our key priorities — delivering our second quarter of stability. During the quarter, we stepped up our investment in marketing and advanced our plans to introduce new, sought-after procedures including entering an exclusive partnership with AlloClae that expands our treatment offering and enhances our body contouring platform.”
“We enter the second half of the year a fundamentally stronger company with the right strategy and team. Our addressable market is larger, our procedure mix is broader, and our operating platform is more disciplined than it was twelve months ago,” concluded Mr. Jashnani.
Second Quarter and First Six Months 2026 (“YTD”) Highlights
- Positive Business Momentum:
- Grew same center case volume
1.0% and1.1% , in Q2 2026 and YTD, respectively versus prior year; - Achieved stable same center sales in Q2 2026 and YTD, respectively versus prior year; and
- Delivered flat same center sales YTD.
- Grew same center case volume
- Advanced Strategic Priorities:
- Introduced new services to broaden service offering – including first-ever partnership with AlloClae to offer an innovative injectable adipose matrix that broadens AirSculpt's addressable patient population;
- Increased awareness with brand marketing;
- Improved Financial Flexibility since the start of 2025;
- Reduction in gross debt of ~
$30 million to$44.2 million ; and - Increased cash by ~
$10m m to$18.8 million .
- Reduction in gross debt of ~
Second Quarter 2026 Results
- Case volume was 3,376 for the second quarter of 2026, representing a (0.5)% decrease from the fiscal year 2025 second quarter case volume of 3,392
- Revenue declined (3)% to
$42.9 million from$44.0 million in the fiscal year 2025; - Net loss for the quarter was
$1.1 million compared to net loss of$0.6 million in the fiscal year 2025 second quarter; and - Adjusted EBITDA was
$4.9 million compared to$5.8 million in the fiscal year 2025 second quarter.
First Six Months 2026 Results
- Case volume was 6,458 for the first six months of 2026, representing a (0.2)% decrease from the first six months of 2025 case volume of 6,468
- Revenue declined
1.3% to$82.3 million from$83.4 million in the first six months of fiscal year 2025; - Net loss was
$3.5 million compared to$3.4 million in the first six months of fiscal year 2025; and - Adjusted EBITDA was
$8.2 million compared to$9.6 million in the first six months of fiscal year 2025.
2026 Outlook
The Company is reaffirming its full year 2026 revenue at the lower end of its guidance range of approximately
For additional information on forward-looking statements, see the section titled "Forward-Looking Statements" below.
Debt & Liquidity
As of June 30, 2026, the Company had
On August 7, 2026, the Company entered into an amended term loan agreement that extends its maturity to November 2027. In connection with the amendment, the Company made a
Conference Call Information
AirSculpt will hold a conference call today, August 10, 2026 at 8:30 am (Eastern Time). The conference call can be accessed by dialing 1-877-407-9716 (toll-free domestic) or 1-201-493-6779 (international) using the conference ID 13761751 or by visiting the link below to request a return call for instant telephone access to the event.
https://callme.viavid.com/viavid/?callme=true&passcode=13725116&h=true&info=company&r=true&B=6
The live webcast may be accessed via the investor relations section of the AirSculpt Technologies website at https://investors.airsculpt.com. A replay of the webcast will be available for approximately 90 days following the call.
To learn more about AirSculpt, please visit the Company's website at https://investors.airsculpt.com. AirSculpt uses its website as a channel of distribution for material Company information. Financial and other material information regarding AirSculpt is routinely posted on the Company's website and is readily accessible.
About AirSculpt
AirSculpt is a next-generation body contouring treatment designed to optimize both comfort and precision, available exclusively at AirSculpt offices. The minimally invasive procedure removes fat and tightens skin, while sculpting targeted areas of the body, allowing for quick healing with minimal bruising, tighter skin, and precise results.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal U.S. securities laws. In some cases, you can identify these statements by forward-looking words such as “may,” “might,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or “continue,” the negative of these terms and other comparable terminology, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements, which are subject to risks, uncertainties, and assumptions about us, may include projections of our future financial performance (including in particular our projected 2026 revenue and adjusted EBITDA), our anticipated growth strategies, and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events. You are cautioned that there are important risks and uncertainties, many of which are beyond our control, that could cause our actual results, level of activity, performance, or achievements to differ materially from the projected results, level of activity, performance or achievements that are expressed or implied by such forward-looking statements. We qualify all of our forward-looking statements by these cautionary statements, including those factors discussed in the section titled “Risk Factors” in our Annual Report on Form 10-K.
Our future results could be affected by a variety of other factors, including, but not limited to, inability to sell equity or other securities in the future at a time when we might otherwise wish to effect sales; inability to raise capital on commercially reasonable terms, if at all; the risk that any future financings may dilute our stockholders or restrict our business; failure to stabilize same-store performance; not being able to optimize our marketing investment, go-to-market strategy and sales process; not having the ability to expand our financing options for consumers; being unsuccessful in further product innovations; failure to operate centers in a cost-effective manner; increased operating expenses due to rising inflation; increased competition in the weight loss and obesity solutions market, including as a result of the recent regulatory approval, increased market acceptance, availability and customer awareness of weight-loss drugs; shortages or quality control issues with third-party manufacturers or suppliers; competition for surgeons; litigation or medical malpractice claims; inability to protect the confidentiality of our proprietary information; changes in the laws governing the corporate practice of medicine or fee-splitting; changes in regulatory and macroeconomic conditions, including inflation and the threat of recession, economic and other conditions of the states and jurisdictions where our facilities are located; and business disruption or other losses from natural disasters, war, pandemic, terrorist acts or political unrest.
The risk factors discussed in “Item 1A. Risk Factors” in our Annual Report on Form 10-K and in other filings we make from time to time with the SEC could cause our results to differ materially from those expressed in the forward-looking statements made in this press release.
There also may be other risks and uncertainties that are currently unknown to us or that we are unable to predict at this time.
Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, level of activity, performance, or achievements. Moreover, neither we nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. Forward-looking statements represent our estimates and assumptions only as of the date they were made, which are inherently subject to change, and we are under no duty and we assume no obligation to update any of these forward-looking statements, or to update the reasons actual results could differ materially from those anticipated after the date of this press release to conform our prior statements to actual results or revised expectations, except as required by law. Given these uncertainties, investors should not place undue reliance on these forward-looking statements.
Use of Non-GAAP Financial Measures
The Company reports financial results in accordance with generally accepted accounting principles in the United States (“GAAP”), however, the Company believes the evaluation of ongoing operating results may be enhanced by a presentation of Comparable Net Revenue, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Loss and Adjusted Net Loss per Share, which are non-GAAP financial measures. Although the Company provides guidance for Adjusted EBITDA, it is not able to provide guidance for net income, the most directly comparable GAAP measure. Certain elements of the composition of net income, including equity-based compensation, are not predictable, making it impractical for us to provide guidance on net income or to reconcile our Adjusted EBITDA guidance to net income without unreasonable efforts. For the same reasons, the Company is unable to address the probable significance of the unavailable information regarding net income, which could be material to future results.
These non-GAAP financial measures are not intended to replace financial performance measures determined in accordance with GAAP. Rather, they are presented as supplemental measures of the Company's performance that management believes may enhance the evaluation of the Company's ongoing operating results. These non-GAAP financial measures are not presented in accordance with GAAP, and the Company’s computation of these non-GAAP financial measures may vary from similar measures used by other companies. These measures have limitations as an analytical tool and should not be considered in isolation or as a substitute or alternative to revenue, net income, operating income, cash flows from operating activities, total indebtedness or any other measures of operating performance, liquidity or indebtedness derived in accordance with GAAP.
| AirSculpt Technologies, Inc. and Subsidiaries Selected Consolidated Financial Data (Dollars in thousands, except shares and per share amounts) | |||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||
| Revenue | $ | 42,900 | $ | 44,012 | $ | 82,289 | $ | 83,383 | |||||||
| Operating expenses: | |||||||||||||||
| Cost of service | 16,567 | 17,201 | 32,155 | 33,151 | |||||||||||
| Selling, general and administrative | 23,421 | 22,671 | 46,003 | 44,439 | |||||||||||
| Depreciation and amortization | 2,941 | 3,246 | 5,962 | 6,488 | |||||||||||
| Loss on impairment of long-lived assets | — | 108 | — | 108 | |||||||||||
| Total operating expenses | 42,929 | 43,226 | 84,120 | 84,186 | |||||||||||
| (Loss)/income from operations | (29 | ) | 786 | (1,831 | ) | (803 | ) | ||||||||
| Interest expense, net | 1,043 | 1,562 | 2,241 | 3,187 | |||||||||||
| Unrealized loss | 141 | — | 3 | — | |||||||||||
| Pre-tax net loss | (1,213 | ) | (776 | ) | (4,075 | ) | (3,990 | ) | |||||||
| Income tax benefit | (101 | ) | (185 | ) | (566 | ) | (552 | ) | |||||||
| Net loss | $ | (1,112 | ) | $ | (591 | ) | $ | (3,509 | ) | $ | (3,438 | ) | |||
| Loss per share of common stock | |||||||||||||||
| Basic | $ | (0.02 | ) | $ | (0.01 | ) | $ | (0.05 | ) | $ | (0.06 | ) | |||
| Diluted | $ | (0.02 | ) | $ | (0.01 | ) | $ | (0.05 | ) | $ | (0.06 | ) | |||
| Weighted average shares outstanding | |||||||||||||||
| Basic | 70,786,163 | 59,590,033 | 70,127,093 | 59,066,400 | |||||||||||
| Diluted | 70,786,163 | 59,590,033 | 70,127,093 | 59,066,400 | |||||||||||
| AirSculpt Technologies, Inc. and Subsidiaries Selected Financial and Operating Data (Dollars in thousands, except per case amounts) | |||||
| June 30, 2026 | December 31, 2025 | ||||
| Balance Sheet Data (at period end): | |||||
| Cash and cash equivalents | $ | 18,824 | $ | 8,449 | |
| Total current assets | 27,496 | 15,456 | |||
| Total assets | $ | 193,281 | $ | 187,304 | |
| Current portion of long-term debt | $ | 10,460 | $ | 5,460 | |
| Deferred revenue and patient deposits | 3,149 | 1,871 | |||
| Total current liabilities | 34,949 | 27,902 | |||
| Long-term debt, net | 33,108 | 50,585 | |||
| Total liabilities | $ | 88,449 | $ | 99,592 | |
| Total stockholders’ equity | $ | 104,832 | $ | 87,712 | |
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||
| Cash Flow Data: | |||||||||||||||
| Net cash provided by (used in): | |||||||||||||||
| Operating activities | $ | (1,238 | ) | $ | 4,984 | $ | 4,033 | $ | 5,852 | ||||||
| Investing activities | (228 | ) | (265 | ) | (279 | ) | (2,166 | ) | |||||||
| Financing activities | 3,600 | (2,083 | ) | 6,621 | (3,732 | ) | |||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||
| Other Data: | |||||||||||||||
| Number of facilities | 31 | 32 | 31 | 32 | |||||||||||
| Number of total procedure rooms | 65 | 67 | 65 | 67 | |||||||||||
| Cases | 3,376 | 3,392 | 6,458 | 6,468 | |||||||||||
| Revenue per case | $ | 12,707 | $ | 12,975 | $ | 12,742 | $ | 12,892 | |||||||
| Adjusted EBITDA(1) | $ | 4,937 | $ | 5,835 | $ | 8,248 | $ | 9,590 | |||||||
| Adjusted EBITDA margin(2) | |||||||||||||||
| (1) A reconciliation of this non-GAAP financial measure appears below. |
| (2) Defined as Adjusted EBITDA as a percentage of revenue. |
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||
| Same-center Information(1): | |||||||||||||
| Cases | 3,376 | 3,341 | 6,458 | 6,389 | |||||||||
| Case growth | N/A | N/A | |||||||||||
| Revenue per case | $ | 12,707 | $ | 12,971 | $ | 12,742 | $ | 12,889 | |||||
| Revenue per case growth | (2.0)% | N/A | (1.1)% | N/A | |||||||||
| Number of facilities | 31 | 31 | 31 | 31 | |||||||||
| Number of total procedure rooms | 65 | 65 | 65 | 65 | |||||||||
| (1) | For the three and six months ended June 30, 2026 and 2025, we define same-center case and revenue growth as the growth in each of our cases and revenue at facilities that were owned and operated during the three and six months ended June 30, 2026 and 2025, respectively. At facilities that were not owned or operated for the entirety of the prior year period, the current year period has been pro-rated to reflect only growth experienced during the portion of the three and six months ended June 30, 2026 in which such facilities were owned and operated during the three and six months ended June 30, 2025. We define same-center facilities and procedure rooms based on if a facility was owned or operated as of June 30, 2025. We have excluded the London facility from all periods presented due to the closure of the facility. |
AirSculpt Technologies, Inc. and Subsidiaries
Reconciliation of Non-GAAP Financial Measures
(Dollars in thousands)
We report our financial results in accordance with GAAP, however, management believes the evaluation of our ongoing operating results may be enhanced by a presentation of Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Loss and Adjusted Net Loss per Share, which are non-GAAP financial measures.
We define Adjusted EBITDA as net loss excluding depreciation and amortization, net interest expense, income tax benefit, restructuring and related severance costs, certain other non-recurring costs, unrealized (gain)/loss, and equity-based compensation.
We define Adjusted Net Loss as net loss excluding restructuring and related severance costs, certain other non-recurring costs, equity-based compensation and the tax effect of these adjustments.
We include Adjusted EBITDA and Adjusted Net Loss because they are important measures on which our management assesses and believes investors should assess our operating performance. We consider Adjusted EBITDA and Adjusted Net Loss each to be an important measure because they help illustrate underlying trends in our business and our historical operating performance on a more consistent basis. Adjusted EBITDA has limitations as an analytical tool including: (i) Adjusted EBITDA does not include results from equity-based compensation and (ii) Adjusted EBITDA does not reflect interest expense on our debt or the cash requirements necessary to service interest or principal payments. Adjusted Net Loss has limitations as an analytical tool because it does not include results from equity-based compensation.
We define Adjusted EBITDA Margin as Adjusted EBITDA as a percentage of revenue. We define Adjusted Net Loss per Share as Adjusted Net Loss divided by weighted average basic and diluted shares. We included Adjusted EBITDA Margin and Adjusted Net Loss per Share because they are important measures on which our management assesses and believes investors should assess our operating performance. We consider Adjusted EBITDA Margin and Adjusted Net Loss per Share to be important measures because they help illustrate underlying trends in our business and our historical operating performance on a more consistent basis.
The following table reconciles Adjusted EBITDA and Adjusted EBITDA Margin to net loss, the most directly comparable GAAP financial measure:
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||
| Net loss | $ | (1,112 | ) | $ | (591 | ) | $ | (3,509 | ) | $ | (3,438 | ) | |||
| Plus | | ||||||||||||||
| Equity-based compensation | 912 | 1,352 | 1,471 | 2,591 | |||||||||||
| Restructuring and related severance costs | 323 | 343 | 1,276 | 1,206 | |||||||||||
| One-time SOX compliance and other related costs | 465 | — | 1,046 | — | |||||||||||
| Depreciation and amortization | 2,941 | 3,246 | 5,962 | 6,488 | |||||||||||
| Loss on impairment of long-lived assets | — | 108 | — | 108 | |||||||||||
| Litigation settlements | 325 | — | 325 | — | |||||||||||
| Interest expense, net | 1,043 | 1,562 | 2,241 | 3,187 | |||||||||||
| Income tax benefit | (101 | ) | (185 | ) | (566 | ) | (552 | ) | |||||||
| Unrealized loss | 141 | — | 3 | — | |||||||||||
| Adjusted EBITDA | $ | 4,937 | $ | 5,835 | $ | 8,248 | $ | 9,590 | |||||||
| Adjusted EBITDA Margin | 11.5 | % | 13.3 | % | 10.0 | % | 11.5 | % | |||||||
The following table reconciles Adjusted Net Loss and Adjusted Net Loss per Share to net loss, the most directly comparable GAAP financial measure:
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||
| Net loss | $ | (1,112 | ) | $ | (591 | ) | $ | (3,509 | ) | $ | (3,438 | ) | |||
| Plus | |||||||||||||||
| Equity-based compensation | 912 | 1,352 | 1,471 | 2,591 | |||||||||||
| Restructuring and related severance costs | 323 | 343 | 1,276 | 1,206 | |||||||||||
| Loss on impairment of long-lived assets | — | 108 | — | 108 | |||||||||||
| Cost related to closing location, net | — | — | — | — | — | ||||||||||
| Litigation settlements | 325 | — | 325 | — | — | ||||||||||
| One-time SOX compliance and other related costs | 465 | — | 1,046 | ||||||||||||
| Tax effect of adjustments | (304 | ) | (25 | ) | (820 | ) | (388 | ) | |||||||
| Adjusted net (loss)/income | $ | 609 | $ | 1,187 | $ | (211 | ) | $ | 79 | ||||||
| Adjusted net loss per share of common stock(1) | |||||||||||||||
| Basic | $ | 0.01 | $ | 0.02 | $ | 0.00 | $ | 0.00 | |||||||
| Diluted | $ | 0.01 | $ | 0.02 | $ | 0.00 | $ | 0.00 | |||||||
| Weighted average shares outstanding | |||||||||||||||
| Basic | 70,786,163 | 59,590,033 | 70,127,093 | 59,066,400 | |||||||||||
| Diluted | 70,981,004 | 60,379,884 | 70,127,093 | 59,802,603 | |||||||||||
| (1) | Diluted Adjusted Net Loss Per Share is computed by dividing adjusted net loss by the weighted-average number of shares of common stock outstanding adjusted for the dilutive effect of all potential shares of common stock. |
Investor Contact
Allison Malkin
ICR, Inc.
airsculpt@icrinc.com
