- AirSculpt Technologies ( NASDAQ: AIRS ) is down around -27% after it posted disappointing Q3 numbers and lowered its 2022 revenue guidance.
- Revenue for Q3 was up 12.2% Y/Y to $38.9M but fell short of analysts' expectations by around $5M. Same-center revenue was also down 2.1% for the quarter.
- The company also swung to a net loss of $7.4M for Q3, hurt by a $7.2M increase in equity-based compensation and $1.8M in public company related costs. The latter also hurt adjusted EBITDA, which dropped to $9.2M from $12.1M a year ago.
- CEO Aaron Rollins noted: "We had a bit more pronounced seasonality during the quarter as several doctors at some of our larger centers took extended vacations and we expect a number of these cases to be deferred to future periods."
- AirSculpt has lowered its revenue outlook to $168M-170M (vs consensus estimate of $179.91M). It has also lowered its adjusted EBITDA guidance to $45M-47M.
For further details see:
AirSculpt drops nearly 30% on 2022 forecast cut