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Our Company 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.
The business is unprofitable at the operating level (-7.61% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 15.8% YoY. Margins deteriorated 6.7pp alongside, both lines moving the wrong way.
ROIC dropped from -0.69% to -5.23%, capital efficiency is deteriorating. Net debt of $75M represents 108.6x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$152M
▼ -15.8% YoY
Net Income (TTM)
-$11M
▼ -45.5% YoY
Op. Margin
-7.75%
▼ -6.7pp YoY
ROIC
-5.43%
▼ -4.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$7M
▲ +126.0% YoY
Op. Cash Flow (TTM)
$7M
▼ -72.7% YoY
Net Debt
$54M
Cash & Equiv.
$17M
5Y CAGR: +19.3%
5Y CAGR: -41.7%
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