What is AirSculpt Technologies' operating income?

AirSculpt Technologies' total operating income in 2025 was -$11.56 million, based on the following breakdown: Total Gross Profit: $90.13 million Total Operating Expenses: $101.69 million

AirSculpt Technologies (AIRS) Financials

$4.33 +0.15 (+3.59%)

Closing price 07/9/2026 04:00 PM Eastern

Extended Trading

$4.34 +0.01 (+0.30%)

As of 09:25 AM Eastern

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Annual Income Statements for AirSculpt Technologies

This table shows AirSculpt Technologies' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-2.21	7.58	11	-15	-4.24	-8.02	-12
Consolidated Net Income / (Loss)	-2.21	7.58	11	-15	-4.24	-8.02	-12
Net Income / (Loss) Continuing Operations	-2.21	7.58	11	-15	-4.24	-8.02	-12
Total Pre-Tax Income	-2.21	7.58	11	-11	3.24	-7.83	-18
Total Operating Income	0.66	10	16	-4.55	9.72	-1.58	-12
Total Gross Profit	26	39	89	106	122	109	90
Total Revenue	41	63	133	169	196	180	152
Operating Revenue	41	63	133	169	196	180	152
Total Cost of Revenue	15	23	45	63	74	71	62
Operating Cost of Revenue	15	23	45	63	74	71	62
Total Operating Expenses	25	29	73	111	112	111	102
Selling, General & Admin Expense	20	24	66	101	102	99	82
Depreciation Expense	4.96	5.64	6.60	8.06	10	12	13
Other Operating Expenses / (Income)	0.00	0.00	0.68	0.93	0.00	0.00	2.15
Other Special Charges / (Income)	-	0.00	0.00	0.15	-0.21	0.02	4.58
Total Other Income / (Expense), net	-2.88	-2.46	-4.89	-6.75	-6.49	-6.25	-6.08
Interest Expense	2.88	2.46	4.89	6.75	6.49	6.25	6.08
Income Tax Expense	0.00	0.00	0.33	3.38	7.48	0.19	-5.97
Basic Earnings per Share	$0.00	$0.00	($0.01)	($0.26)	($0.08)	($0.14)	($0.19)
Weighted Average Basic Shares Outstanding	0.00	0.00	55.64M	55.68M	56.78M	57.69M	60.45M
Diluted Earnings per Share	$0.00	$0.00	($0.01)	($0.26)	($0.08)	($0.14)	($0.19)
Weighted Average Diluted Shares Outstanding	0.00	0.00	55.64M	55.68M	56.78M	57.69M	60.45M
Weighted Average Basic & Diluted Shares Outstanding	-	-	55.64M	112.77M	57.42M	58.57M	70.55M

This table shows AirSculpt Technologies' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-1.67	-4.38	6.03	-3.21	-6.04	-5.03	-2.85	-0.59	-9.51	1.28	-2.40
Consolidated Net Income / (Loss)	-1.67	-4.34	6.03	-3.21	-6.04	-5.03	-2.85	-0.59	-9.51	1.28	-2.40
Net Income / (Loss) Continuing Operations	-1.67	-4.38	6.03	-3.21	-6.04	-5.03	-2.85	-0.59	-9.51	1.28	-2.40
Total Pre-Tax Income	-0.88	0.62	9.48	-6.50	-5.31	-5.74	-3.21	-0.78	-11	-2.49	-2.86
Total Operating Income	0.96	1.64	11	-4.98	-3.72	-4.13	-1.59	0.79	-9.75	-1.01	-1.80
Total Gross Profit	29	30	30	32	43	-14	23	44	35	-12	24
Total Revenue	47	48	48	51	43	39	39	44	35	33	39
Operating Revenue	47	48	48	51	43	39	39	44	35	33	39
Total Cost of Revenue	18	18	18	19	0.00	53	16	0.00	0.00	46	16
Operating Cost of Revenue	18	18	18	19	-	-	16	-	-	-	16
Total Operating Expenses	28	28	19	37	46	-10	25	43	45	-11	26
Selling, General & Admin Expense	25	26	16	34	25	23	22	23	20	18	23
Depreciation Expense	2.63	2.77	2.81	2.89	3.00	3.20	3.24	3.25	3.22	3.08	3.02
Total Other Income / (Expense), net	-1.84	-1.02	-1.53	-1.52	-1.59	-1.61	-1.63	-1.56	-1.41	-1.48	-1.06
Interest Expense	1.84	1.02	1.53	1.52	1.59	1.61	1.63	1.56	1.41	1.48	1.20
Other Income / (Expense), net	-	-	-	-	-	-	-	-	-	-	0.14
Income Tax Expense	0.79	5.00	3.45	-3.29	0.73	-0.71	-0.37	-0.19	-1.65	-3.77	-0.47
Basic Earnings per Share	($0.03)	($0.08)	$0.10	($0.06)	($0.10)	($0.08)	($0.05)	($0.01)	($0.15)	$0.02	($0.03)
Weighted Average Basic Shares Outstanding	56.79M	56.78M	57.42M	57.56M	57.65M	57.69M	58.54M	59.59M	62.44M	60.45M	69.46M
Diluted Earnings per Share	($0.03)	($0.08)	$0.10	($0.06)	($0.10)	($0.08)	($0.05)	($0.01)	($0.15)	$0.02	($0.03)
Weighted Average Diluted Shares Outstanding	56.79M	56.78M	58.42M	57.56M	57.65M	57.69M	58.54M	59.59M	62.44M	60.45M	69.46M
Weighted Average Basic & Diluted Shares Outstanding	57.36M	57.42M	57.57M	57.59M	57.88M	58.57M	58.78M	62.44M	62.44M	70.55M	70.55M

This table details how cash moves in and out of AirSculpt Technologies' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-0.28	5.25	15	-16	0.65	-2.03	0.21
Net Cash From Operating Activities	4.94	14	27	24	24	11	3.10
Net Cash From Continuing Operating Activities	4.94	14	27	24	24	11	3.10
Net Income / (Loss) Continuing Operations	-2.21	7.58	11	-15	-4.24	-8.02	-12
Consolidated Net Income / (Loss)	-2.21	7.58	11	-15	-4.24	-8.02	-12
Depreciation Expense	4.96	5.64	6.60	8.06	10	12	13
Amortization Expense	0.23	0.21	0.64	0.92	0.21	0.34	0.53
Non-Cash Adjustments To Reconcile Net Income	0.34	0.33	7.87	31	19	3.78	9.06
Changes in Operating Assets and Liabilities, net	1.62	0.20	0.98	-0.39	-1.62	3.36	-7.60
Net Cash From Investing Activities	-4.44	-3.69	-7.12	-13	-9.92	-14	-2.40
Net Cash From Continuing Investing Activities	-4.44	-3.69	-7.12	-13	-9.92	-14	-2.40
Purchase of Property, Plant & Equipment	-4.44	-3.69	-7.12	-13	-9.92	-14	-2.40
Net Cash From Financing Activities	-0.78	-5.02	-4.55	-27	-13	0.63	-0.48
Net Cash From Continuing Financing Activities	-0.78	-5.02	-4.55	-27	-13	0.63	-0.48
Repayment of Debt	-0.50	-2.90	-0.84	-84	-13	-3.22	-19
Payment of Dividends	-0.28	-4.62	-67	-24	-0.46	-0.25	0.00
Issuance of Common Equity	0.00	0.00	14	-	0.00	0.00	19
Other Financing Activities, net	-	0.00	0.00	-2.03	-0.23	-0.90	-0.06
Cash Interest Paid	2.68	2.29	4.26	5.83	6.28	6.00	5.56

This table details how cash moves in and out of AirSculpt Technologies' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-12	1.60	0.71	-1.10	-3.89	2.26	-2.68	2.64	-2.78	3.04	8.24
Net Cash From Operating Activities	0.64	4.87	3.37	3.44	1.83	2.71	0.87	4.98	-0.23	-2.53	5.27
Net Cash From Continuing Operating Activities	0.64	4.87	3.37	3.44	1.83	2.71	0.87	4.98	-0.23	-2.53	5.27
Net Income / (Loss) Continuing Operations	-1.67	-4.34	6.03	-3.21	-6.04	-5.03	-2.85	-0.59	-9.51	1.28	-2.40
Consolidated Net Income / (Loss)	-1.67	-4.34	6.03	-3.21	-6.04	-5.03	-2.85	-0.59	-9.51	1.28	-2.40
Depreciation Expense	2.63	2.77	2.81	2.89	3.00	3.20	3.24	3.25	3.22	3.08	3.02
Amortization Expense	0.26	-0.57	0.08	0.08	0.08	0.10	0.11	0.14	0.14	0.15	0.14
Non-Cash Adjustments To Reconcile Net Income	4.50	6.07	-6.78	4.88	3.43	2.25	1.24	1.46	8.26	-1.90	0.56
Changes in Operating Assets and Liabilities, net	-5.08	0.93	1.23	-1.20	1.36	2.21	-0.87	0.73	-2.33	-5.13	3.95
Net Cash From Investing Activities	-2.12	-1.83	-1.56	-4.02	-4.90	-3.53	-1.90	-0.27	-0.18	-0.06	-0.05
Net Cash From Continuing Investing Activities	-2.12	-1.83	-1.56	-4.02	-4.90	-3.53	-1.90	-0.27	-0.18	-0.06	-0.05
Purchase of Property, Plant & Equipment	-2.12	-1.83	-1.56	-4.02	-4.90	-3.53	-1.90	-0.27	-0.18	-0.06	-0.05
Net Cash From Financing Activities	-11	-1.44	-1.10	-0.53	-0.83	3.08	-1.65	-2.08	-2.38	5.63	3.02
Net Cash From Continuing Financing Activities	-11	-1.44	-1.10	-0.53	-0.83	3.08	-1.65	-2.08	-2.38	5.63	3.02
Repayment of Debt	-11	-1.03	-0.71	-0.51	-0.75	-1.25	-1.59	-16	-2.14	0.64	-11
Issuance of Common Equity	-	-	-	-	-	-	0.00	-	-0.24	5.00	15
Other Financing Activities, net	-	-0.23	-0.38	-0.01	-0.07	-0.44	-0.06	-	-	-	-0.20
Cash Interest Paid	1.68	1.49	1.48	1.47	1.53	1.52	1.52	1.43	1.28	1.34	1.08

This table presents AirSculpt Technologies' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	180	201	201	204	213	187
Total Current Assets	12	29	17	16	17	15
Cash & Equivalents	10	25	9.62	10	8.24	8.45
Prepaid Expenses	1.18	4.09	4.23	3.76	5.83	5.51
Current Deferred & Refundable Income Taxes	-	0.00	2.83	1.94	3.06	1.50
Plant, Property, & Equipment, net	7.11	14	24	29	37	28
Total Noncurrent Assets	161	157	160	159	158	144
Goodwill	82	82	82	82	82	82
Intangible Assets	61	56	51	46	42	37
Other Noncurrent Operating Assets	19	20	27	31	35	25
Total Liabilities & Shareholders' Equity	180	201	201	204	213	187
Total Liabilities	56	117	130	120	135	100
Total Current Liabilities	9.46	16	22	20	29	28
Short-Term Debt	0.40	0.85	2.13	2.13	4.25	5.46
Accounts Payable	1.10	2.67	3.84	3.92	6.26	5.37
Accrued Expenses	0.58	4.10	6.64	3.30	8.30	5.30
Current Deferred Revenue	3.23	2.81	2.36	1.46	1.17	1.87
Current Employee Benefit Liabilities	1.26	2.51	2.99	4.13	2.53	2.61
Other Current Liabilities	2.89	3.47	4.36	5.38	6.44	7.30
Total Noncurrent Liabilities	46	101	108	100	106	72
Long-Term Debt	32	82	81	70	70	51
Noncurrent Deferred & Payable Income Tax Liabilities	0.00	4.35	5.49	6.83	6.58	0.88
Other Noncurrent Operating Liabilities	14	15	21	23	29	20
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	124	84	71	84	78	88
Total Preferred & Common Equity	0.00	84	71	84	78	88
Total Common Equity	124	84	71	84	78	88
Common Stock	124	84	86	104	108	128
Retained Earnings	0.00	-0.39	-15	-20	-29	-41
Accumulated Other Comprehensive Income / (Loss)	-	0.00	-0.08	-0.41	-0.69	-0.10

This table presents AirSculpt Technologies' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	204	203	210	208	203	198	186	192
Total Current Assets	16	15	22	13	15	16	12	24
Cash & Equivalents	8.66	11	9.87	5.97	5.55	8.19	5.41	17
Prepaid Expenses	3.38	3.87	8.38	4.15	6.38	6.41	3.36	5.67
Current Deferred & Refundable Income Taxes	4.37	0.15	3.45	2.77	3.36	1.81	3.46	1.97
Plant, Property, & Equipment, net	29	30	32	36	36	34	30	26
Total Noncurrent Assets	159	158	157	159	152	148	144	142
Goodwill	82	82	82	82	82	82	82	82
Intangible Assets	48	45	44	43	40	39	38	36
Other Noncurrent Operating Assets	30	31	31	35	30	27	24	24
Total Liabilities & Shareholders' Equity	204	203	210	208	203	198	186	192
Total Liabilities	120	119	125	126	126	107	104	92
Total Current Liabilities	20	22	25	25	27	26	24	32
Short-Term Debt	2.13	2.66	3.19	3.72	4.25	4.55	5.01	5.46
Accounts Payable	3.56	4.32	4.56	6.79	4.14	3.34	4.46	7.46
Accrued Expenses	3.42	4.68	8.45	3.90	8.07	8.11	5.17	5.84
Current Deferred Revenue	1.56	2.04	0.94	2.34	2.03	1.12	0.88	3.90
Current Employee Benefit Liabilities	3.99	2.48	2.33	2.49	2.23	2.65	2.52	2.65
Other Current Liabilities	5.14	5.59	5.65	6.11	6.08	6.06	6.13	7.18
Total Noncurrent Liabilities	100	97	100	100	99	81	80	59
Long-Term Debt	71	69	68	66	69	53	52	39
Noncurrent Deferred & Payable Income Tax Liabilities	5.49	6.83	6.83	6.83	6.58	6.58	6.58	0.88
Other Noncurrent Operating Liabilities	24	22	26	27	23	22	21	19
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	84	84	85	83	77	91	82	100
Total Preferred & Common Equity	84	84	85	83	77	91	82	100
Total Common Equity	84	84	85	83	77	91	82	100
Common Stock	99	97	102	105	109	124	125	143
Retained Earnings	-15	-14	-17	-23	-31	-31	-41	-43
Accumulated Other Comprehensive Income / (Loss)	-0.22	-0.25	-0.39	-0.19	-0.60	-1.55	-1.99	-0.25

This table displays calculated financial ratios and metrics derived from AirSculpt Technologies' official financial filings.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	0.00	0.00	55,640,154.00	56,172,447.00	57,355,676.00	-	62,436,670.00
DEI Adjusted Shares Outstanding	0.00	0.00	55,640,154.00	56,172,447.00	57,355,676.00	-	62,436,670.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	0.00	0.19	-0.26	-0.07	-	-0.19
Growth Metrics	-	-	-	-	-	-	-
Revenue Growth	0.00%	52.21%	112.40%	26.61%	16.07%	-7.95%	-15.82%
EBITDA Growth	0.00%	171.58%	44.82%	-80.71%	354.86%	-47.80%	-83.60%
EBIT Growth	0.00%	1,413.27%	57.16%	-128.82%	313.91%	-119.15%	-630.26%
NOPAT Growth	0.00%	2,061.82%	52.41%	-120.81%	-300.26%	91.03%	-630.26%
Net Income Growth	0.00%	442.54%	39.25%	-239.12%	71.12%	-84.22%	-45.51%
EPS Growth	0.00%	0.00%	0.00%	-2,500.00%	69.23%	-75.00%	-35.71%
Operating Cash Flow Growth	0.00%	182.64%	90.82%	-8.21%	-2.01%	-52.62%	-72.72%
Free Cash Flow Firm Growth	0.00%	0.00%	114.97%	-134.89%	-88.95%	88.71%	407.75%
Invested Capital Growth	0.00%	0.00%	-3.45%	2.78%	0.46%	0.28%	-6.46%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	1.90%	3.65%	-4.47%	-3.64%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	309.39%	57.60%	-29.94%	233.18%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	58.07%	359.23%	-148.83%	21.27%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	58.07%	-959.33%	-148.83%	21.27%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	32.16%	40.26%	-5.90%	35.13%
EPS Q/Q Growth	0.00%	0.00%	0.00%	-85.71%	38.46%	0.00%	34.48%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	-32.64%	102.02%	-6.89%	-15.94%	-62.88%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	-2,554.19%	-140.29%	-55.28%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	-1.78%	-1.96%	-0.64%	1.27%
Profitability Metrics	-	-	-	-	-	-	-
Gross Margin	62.44%	62.61%	66.59%	62.81%	62.34%	60.42%	59.37%
EBITDA Margin	14.18%	25.31%	17.26%	2.63%	10.30%	5.77%	1.15%
Operating Margin	1.61%	15.98%	11.83%	-2.69%	4.96%	-1.01%	-7.61%
EBIT Margin	1.61%	15.98%	11.83%	-2.69%	4.96%	-1.01%	-7.61%
Profit (Net Income) Margin	-5.36%	12.07%	7.91%	-8.70%	-2.16%	-4.58%	-7.68%
Tax Burden Percent	100.00%	100.00%	96.98%	129.95%	-130.99%	102.33%	66.15%
Interest Burden Percent	-333.64%	75.52%	69.00%	248.54%	33.30%	444.00%	152.58%
Effective Tax Rate	0.00%	0.00%	3.02%	0.00%	230.99%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	13.76%	10.67%	-2.23%	-8.78%	-0.87%	-5.78%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-8.42%	-1.27%	-19.76%	3.78%	-11.79%	-12.05%
Return on Net Nonoperating Assets (RNNOA)	0.00%	-1.51%	-0.49%	-16.80%	3.30%	-9.23%	-8.28%
Return on Equity (ROE)	0.00%	12.25%	10.18%	-19.03%	-5.48%	-10.11%	-14.07%
Cash Return on Invested Capital (CROIC)	0.00%	-186.24%	14.18%	-4.97%	-9.24%	-1.15%	0.90%
Operating Return on Assets (OROA)	0.00%	5.59%	8.30%	-2.27%	4.80%	-0.88%	-5.78%
Return on Assets (ROA)	0.00%	4.22%	5.55%	-7.32%	-2.10%	-3.99%	-5.83%
Return on Common Equity (ROCE)	0.00%	12.25%	10.18%	-19.03%	-5.48%	-10.11%	-14.07%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	12.63%	-20.74%	0.00%	-10.41%	0.00%
Net Operating Profit after Tax (NOPAT)	0.46	10	15	-3.18	-13	-1.27	-8.09
NOPAT Margin	1.13%	15.98%	11.47%	-1.88%	-6.50%	-0.70%	-5.33%
Net Nonoperating Expense Percent (NNEP)	0.00%	22.19%	11.94%	17.53%	-12.56%	10.92%	6.27%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-2.06%	-8.18%	-0.83%	-5.63%
Cost of Revenue to Revenue	37.56%	37.39%	33.41%	37.19%	37.66%	39.58%	40.63%
SG&A Expenses to Revenue	48.80%	37.63%	49.31%	60.08%	52.26%	54.83%	54.13%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	60.83%	46.62%	54.77%	65.50%	57.38%	61.43%	66.98%
Earnings before Interest and Taxes (EBIT)	0.66	10	16	-4.55	9.72	-1.82	-12
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	5.85	16	23	4.44	20	10	1.75
Valuation Ratios	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.62	10.98	2.94	5.11	3.79	1.41
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.87	1.23	6.88	1.23	2.19	1.67	0.81
Price to Earnings (P/E)	0.00	10.16	86.89	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	11.08%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	9.84%	1.15%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.68	6.92	1.95	3.38	2.52	1.27
Enterprise Value to Revenue (EV/Rev)	0.00	1.58	7.31	1.67	2.51	2.03	1.13
Enterprise Value to EBITDA (EV/EBITDA)	0.00	6.24	42.34	63.50	24.33	35.24	98.06
Enterprise Value to EBIT (EV/EBIT)	0.00	9.88	61.77	0.00	50.50	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	9.88	63.70	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	7.10	36.57	11.53	20.49	32.32	55.30
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	47.93	0.00	0.00	0.00	136.00
Leverage & Solvency	-	-	-	-	-	-	-
Debt to Equity	0.00	0.26	0.99	1.18	0.85	0.94	0.64
Long-Term Debt to Equity	0.00	0.26	0.98	1.15	0.83	0.89	0.58
Financial Leverage	0.00	0.18	0.38	0.85	0.87	0.78	0.69
Leverage Ratio	0.00	1.45	1.83	2.60	2.62	2.54	2.41
Compound Leverage Factor	0.00	1.10	1.27	6.46	0.87	11.26	3.68
Debt to Total Capital	0.00%	20.82%	49.72%	54.14%	46.03%	48.51%	38.99%
Short-Term Debt to Total Capital	0.00%	0.26%	0.51%	1.38%	1.37%	2.76%	3.80%
Long-Term Debt to Total Capital	0.00%	20.56%	49.21%	52.76%	44.66%	45.75%	35.19%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	79.18%	50.28%	45.86%	53.97%	51.49%	61.01%
Debt to EBITDA	0.00	2.05	3.59	18.83	3.55	7.18	32.10
Net Debt to EBITDA	0.00	1.39	2.49	16.66	3.04	6.38	27.26
Long-Term Debt to EBITDA	0.00	2.02	3.55	18.35	3.44	6.77	28.97
Debt to NOPAT	0.00	3.24	5.40	-26.26	-5.62	-58.77	-6.93
Net Debt to NOPAT	0.00	2.21	3.74	-23.24	-4.82	-52.29	-5.88
Long-Term Debt to NOPAT	0.00	3.20	5.35	-25.59	-5.46	-55.42	-6.25
Altman Z-Score	0.00	1.37	5.70	1.59	3.11	1.96	0.97
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-
Current Ratio	0.00	1.22	1.79	0.75	0.79	0.60	0.55
Quick Ratio	0.00	1.10	1.54	0.43	0.51	0.29	0.30
Cash Flow Metrics	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-136	20	-7.09	-13	-1.67	1.26
Operating Cash Flow to CapEx	111.24%	378.34%	374.27%	189.20%	241.52%	81.03%	128.79%
Free Cash Flow to Firm to Interest Expense	0.00	-55.29	4.16	-1.05	-2.07	-0.27	0.21
Operating Cash Flow to Interest Expense	1.72	5.68	5.45	3.62	3.69	1.82	0.51
Operating Cash Flow Less CapEx to Interest Expense	0.17	4.18	3.99	1.71	2.16	-0.43	0.11
Efficiency Ratios	-	-	-	-	-	-	-
Asset Turnover	0.00	0.35	0.70	0.84	0.97	0.87	0.76
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	8.83	12.86	8.92	7.38	5.43	4.65
Accounts Payable Turnover	0.00	21.43	23.66	19.28	19.00	14.03	10.61
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	17.03	15.43	18.94	19.21	26.02	34.39
Cash Conversion Cycle (CCC)	0.00	-17.03	-15.43	-18.94	-19.21	-26.02	-34.39
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	0.00	146	141	145	145	146	135
Invested Capital Turnover	0.00	0.86	0.93	1.18	1.35	1.24	1.08
Increase / (Decrease) in Invested Capital	0.00	146	-5.03	3.91	0.66	0.40	-9.35
Enterprise Value (EV)	0.00	99	974	282	491	367	171
Market Capitalization	77	77	917	208	430	300	124
Book Value per Share	$0.00	$17.67	$1.50	$1.26	$1.46	$1.37	$1.40
Tangible Book Value per Share	$0.00	($2.67)	($0.97)	($1.10)	($0.77)	($0.76)	($0.49)
Total Capital	0.00	156	166	154	156	154	144
Total Debt	0.00	33	83	84	72	75	56
Total Long-Term Debt	0.00	32	82	81	70	70	51
Net Debt	0.00	22	57	74	61	66	48
Capital Expenditures (CapEx)	4.44	3.69	7.12	13	9.92	14	2.40
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-7.87	-11	-13	-12	-15	-15
Debt-free Net Working Capital (DFNWC)	0.00	2.51	14	-3.52	-2.23	-7.24	-6.99
Net Working Capital (NWC)	0.00	2.11	13	-5.64	-4.35	-11	-12
Net Nonoperating Expense (NNE)	2.68	2.46	4.74	11	-8.49	6.98	3.58
Net Nonoperating Obligations (NNO)	0.00	22	57	74	61	66	48
Total Depreciation and Amortization (D&A)	5.19	5.85	7.24	8.98	10	12	13
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-12.54%	-8.61%	-7.78%	-6.38%	-8.58%	-10.17%
Debt-free Net Working Capital to Revenue	0.00%	3.99%	10.41%	-2.08%	-1.14%	-4.02%	-4.60%
Net Working Capital to Revenue	0.00%	3.36%	9.77%	-3.34%	-2.22%	-6.37%	-8.20%
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($0.01)	($0.26)	($0.08)	($0.14)	($0.19)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	55.64M	55.68M	56.78M	57.69M	60.45M
Adjusted Diluted Earnings per Share	$0.00	$0.00	($0.01)	($0.26)	($0.08)	($0.14)	($0.19)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	55.64M	55.68M	56.78M	57.69M	60.45M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	55.64M	112.77M	57.42M	58.57M	70.55M
Normalized Net Operating Profit after Tax (NOPAT)	0.46	7.02	15	-3.08	6.66	-1.26	-4.89
Normalized NOPAT Margin	1.13%	11.19%	11.47%	-1.82%	3.40%	-0.70%	-3.22%
Pre Tax Income Margin	-5.36%	12.07%	8.16%	-6.69%	1.65%	-4.47%	-11.62%
Debt Service Ratios	-	-	-	-	-	-	-
EBIT to Interest Expense	0.23	4.09	3.23	-0.67	1.50	-0.29	-1.90
NOPAT to Interest Expense	0.16	4.09	3.13	-0.47	-1.96	-0.20	-1.33
EBIT Less CapEx to Interest Expense	-1.31	2.58	1.77	-2.59	-0.03	-2.53	-2.30
NOPAT Less CapEx to Interest Expense	-1.38	2.58	1.67	-2.39	-3.49	-2.45	-1.73
Payout Ratios	-	-	-	-	-	-	-
Dividend Payout Ratio	-12.79%	60.93%	633.65%	-165.67%	-10.94%	-3.05%	0.00%
Augmented Payout Ratio	-12.79%	60.93%	633.65%	-165.67%	-10.94%	-3.05%	0.00%

This table displays calculated financial ratios and metrics derived from AirSculpt Technologies' official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	56,784,968.00	57,355,676.00	57,355,676.00	57,569,952.00	57,592,078.00	-	58,574,516.00	58,779,850.00	62,436,670.00	62,436,670.00	141,091,362.00
DEI Adjusted Shares Outstanding	56,784,968.00	57,355,676.00	57,355,676.00	57,569,952.00	57,592,078.00	-	58,574,516.00	58,779,850.00	62,436,670.00	62,436,670.00	141,091,362.00
DEI Earnings Per Adjusted Shares Outstanding	-0.03	-0.08	0.11	-0.06	-0.10	-	-0.05	-0.01	-0.15	0.02	-0.02
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	20.32%	16.96%	3.94%	-8.44%	-9.07%	-17.71%	-17.32%	-13.71%	-17.76%	-14.64%	0.05%
EBITDA Growth	355.75%	209.07%	218.98%	-124.76%	-116.45%	-123.30%	-87.34%	306.95%	-912.18%	464.47%	-15.12%
EBIT Growth	169.45%	127.56%	524.97%	-192.89%	-489.11%	-394.23%	-114.43%	115.78%	-162.38%	74.17%	-4.72%
NOPAT Growth	169.45%	-177.86%	297.46%	-227.09%	-489.11%	83.00%	-115.88%	115.78%	-162.38%	74.17%	-13.40%
Net Income Growth	77.40%	39.72%	43,164.29%	-280.52%	-262.33%	-10.06%	-147.22%	81.57%	-57.48%	126.72%	15.81%
EPS Growth	76.92%	38.46%	0.00%	-300.00%	-233.33%	0.00%	-150.00%	83.33%	-50.00%	125.00%	40.00%
Operating Cash Flow Growth	93.01%	-26.72%	-45.89%	-71.87%	188.19%	-44.25%	-74.21%	44.80%	-112.30%	-193.29%	507.26%
Free Cash Flow Firm Growth	-116.08%	-51.68%	4,965.42%	-245.65%	-292.22%	81.35%	-125.63%	200.89%	697.50%	526.00%	680.83%
Invested Capital Growth	0.64%	0.46%	-2.38%	1.52%	-1.05%	0.28%	1.10%	-3.54%	-8.93%	-6.46%	-11.64%
Revenue Q/Q Growth	-16.00%	1.74%	0.03%	7.11%	-16.58%	-7.92%	0.49%	11.79%	-20.49%	-4.43%	17.78%
EBITDA Q/Q Growth	-52.77%	0.16%	285.09%	-114.49%	68.62%	-33.07%	389.31%	136.95%	-253.48%	134.64%	-32.63%
EBIT Q/Q Growth	-82.19%	72.04%	684.33%	-145.23%	25.40%	-11.17%	59.24%	149.47%	-1,340.46%	89.67%	-65.24%
NOPAT Q/Q Growth	-75.63%	-1,834.69%	141.18%	-149.79%	25.40%	-11.17%	59.24%	149.47%	-1,340.46%	89.67%	-78.95%
Net Income Q/Q Growth	-193.86%	-160.05%	231.81%	-153.18%	-88.40%	16.66%	40.70%	79.24%	-1,509.48%	113.49%	-286.83%
EPS Q/Q Growth	-200.00%	-166.67%	225.00%	-160.00%	-66.67%	20.00%	37.50%	80.00%	-1,400.00%	113.33%	-250.00%
Operating Cash Flow Q/Q Growth	-94.81%	666.30%	-30.85%	2.29%	-46.83%	48.25%	-68.01%	474.19%	-104.51%	-1,024.89%	308.26%
Free Cash Flow Firm Q/Q Growth	-106.87%	-4,482.95%	159.48%	-153.95%	81.49%	-214.02%	-32.70%	312.39%	9.59%	37.92%	80.93%
Invested Capital Q/Q Growth	3.18%	-1.96%	-1.13%	1.51%	0.57%	-0.64%	0.44%	-3.16%	-5.04%	1.27%	-5.11%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	61.16%	62.97%	62.11%	63.09%	100.00%	-36.15%	59.49%	100.00%	100.00%	-36.77%	60.43%
EBITDA Margin	8.21%	8.08%	29.19%	-3.95%	-1.49%	-2.15%	4.47%	9.47%	-18.28%	6.63%	3.79%
Operating Margin	2.04%	3.45%	23.12%	-9.77%	-8.73%	-10.54%	-4.04%	1.79%	-27.86%	-3.01%	-4.57%
EBIT Margin	2.04%	3.45%	23.12%	-9.77%	-8.73%	-10.54%	-4.04%	1.79%	-27.86%	-3.01%	-4.22%
Profit (Net Income) Margin	-3.56%	-9.11%	12.66%	-6.29%	-14.20%	-12.85%	-7.23%	-1.34%	-27.18%	3.84%	-6.09%
Tax Burden Percent	189.22%	-699.19%	63.60%	49.35%	113.81%	87.70%	88.58%	76.16%	85.26%	-51.51%	83.75%
Interest Burden Percent	-92.25%	37.74%	86.09%	130.42%	142.81%	138.95%	202.27%	-98.73%	114.43%	247.37%	172.00%
Effective Tax Rate	0.00%	805.81%	36.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	1.83%	-32.91%	19.99%	-9.11%	-7.83%	-9.15%	-3.36%	1.44%	-21.92%	-2.29%	-3.55%
ROIC Less NNEP Spread (ROIC-NNEP)	-1.54%	-22.17%	18.52%	-8.66%	-13.19%	-12.50%	-6.07%	-0.63%	-26.57%	1.20%	-5.92%
Return on Net Nonoperating Assets (RNNOA)	-1.36%	-19.38%	15.42%	-6.40%	-10.14%	-9.78%	-4.84%	-0.39%	-18.67%	0.82%	-3.20%
Return on Equity (ROE)	0.47%	-52.29%	35.41%	-15.51%	-17.97%	-18.93%	-8.20%	1.05%	-40.59%	-1.46%	-6.75%
Cash Return on Invested Capital (CROIC)	0.37%	-9.24%	3.99%	-9.58%	2.82%	-1.15%	-7.97%	-0.62%	2.01%	0.90%	6.33%
Operating Return on Assets (OROA)	1.94%	3.34%	22.18%	-8.82%	-8.00%	-9.19%	-3.42%	1.44%	-22.27%	-2.29%	-3.25%
Return on Assets (ROA)	-3.38%	-8.81%	12.15%	-5.68%	-13.00%	-11.19%	-6.13%	-1.09%	-21.73%	2.91%	-4.68%
Return on Common Equity (ROCE)	0.47%	-52.29%	35.41%	-15.51%	-17.97%	-18.93%	-8.20%	1.05%	-40.59%	-1.46%	-6.75%
Return on Equity Simple (ROE_SIMPLE)	-8.43%	0.00%	1.87%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	0.67	-12	7.00	-3.49	-2.60	-2.89	-1.11	0.55	-6.83	-0.70	-1.26
NOPAT Margin	1.43%	-24.36%	14.71%	-6.84%	-6.11%	-7.38%	-2.83%	1.25%	-19.50%	-2.11%	-3.20%
Net Nonoperating Expense Percent (NNEP)	3.36%	-10.73%	1.47%	-0.46%	5.36%	3.35%	2.71%	2.07%	4.65%	-3.49%	2.36%
Return On Investment Capital (ROIC_SIMPLE)	-	-7.45%	4.53%	-2.24%	-1.70%	-1.88%	-0.74%	0.37%	-4.91%	-0.49%	-0.87%
Cost of Revenue to Revenue	38.84%	37.03%	37.89%	36.91%	0.00%	136.15%	40.51%	0.00%	0.00%	136.77%	39.57%
SG&A Expenses to Revenue	53.49%	53.72%	33.09%	67.20%	59.92%	59.61%	55.29%	51.51%	55.80%	54.47%	57.33%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	59.12%	59.52%	38.99%	72.85%	108.73%	-25.60%	63.52%	98.21%	127.86%	-33.76%	65.00%
Earnings before Interest and Taxes (EBIT)	0.96	1.64	11	-4.98	-3.72	-4.13	-1.59	0.79	-9.75	-1.01	-1.66
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	3.84	3.85	14	-2.01	-0.63	-0.84	1.76	4.17	-6.40	2.22	1.49
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.61	5.11	4.22	2.71	3.54	3.79	1.77	3.11	6.10	1.41	1.99
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	2.05	2.19	1.78	1.19	1.55	1.67	0.79	1.72	3.18	0.81	1.31
Price to Earnings (P/E)	0.00	0.00	231.23	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.43%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	3.05	3.38	2.87	2.00	2.43	2.52	1.41	2.37	4.13	1.27	1.77
Enterprise Value to Revenue (EV/Rev)	2.39	2.51	2.09	1.51	1.89	2.03	1.19	2.02	3.51	1.13	1.50
Enterprise Value to EBITDA (EV/EBITDA)	35.33	24.33	13.99	15.06	23.97	35.24	0.00	74.87	0.00	98.06	169.73
Enterprise Value to EBIT (EV/EBIT)	213.74	50.50	22.01	34.70	95.77	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	305.34	0.00	179.96	0.00	136.81	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	17.59	20.49	19.54	23.65	26.38	32.32	23.13	32.08	66.22	55.30	30.37
Enterprise Value to Free Cash Flow (EV/FCFF)	828.86	0.00	71.13	0.00	85.71	0.00	0.00	0.00	196.17	136.00	26.29
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.86	0.85	0.85	0.83	0.85	0.94	0.95	0.63	0.69	0.64	0.45
Long-Term Debt to Equity	0.84	0.83	0.82	0.79	0.80	0.89	0.90	0.58	0.63	0.58	0.39
Financial Leverage	0.89	0.87	0.83	0.74	0.77	0.78	0.80	0.63	0.70	0.69	0.54
Leverage Ratio	2.54	2.62	2.60	2.57	2.47	2.54	2.52	2.32	2.39	2.41	2.23
Compound Leverage Factor	-2.34	0.99	2.24	3.35	3.53	3.52	5.11	-2.29	2.74	5.97	3.83
Debt to Total Capital	46.35%	46.03%	46.02%	45.41%	45.94%	48.51%	48.73%	38.78%	40.94%	38.99%	30.89%
Short-Term Debt to Total Capital	1.35%	1.37%	1.72%	2.05%	2.44%	2.76%	2.82%	3.06%	3.60%	3.80%	3.76%
Long-Term Debt to Total Capital	44.99%	44.66%	44.30%	43.37%	43.51%	45.75%	45.92%	35.72%	37.34%	35.19%	27.13%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	53.65%	53.97%	53.98%	54.59%	54.06%	51.49%	51.27%	61.22%	59.06%	61.01%	69.11%
Debt to EBITDA	5.68	3.55	2.41	3.66	4.72	7.18	-49.17	12.96	-43.41	32.10	33.40
Net Debt to EBITDA	5.00	3.04	2.04	3.15	4.32	6.38	-45.46	11.12	-39.29	27.26	20.96
Long-Term Debt to EBITDA	5.51	3.44	2.32	3.49	4.47	6.77	-46.33	11.94	-39.59	28.97	29.33
Debt to NOPAT	49.08	-5.62	31.06	-6.05	26.94	-58.77	-7.40	-9.54	-5.54	-6.93	-5.44
Net Debt to NOPAT	43.23	-4.82	26.28	-5.21	24.65	-52.29	-6.84	-8.18	-5.01	-5.88	-3.41
Long-Term Debt to NOPAT	47.64	-5.46	29.90	-5.78	25.51	-55.42	-6.98	-8.78	-5.05	-6.25	-4.78
Altman Z-Score	2.76	2.97	2.79	1.81	2.02	1.92	1.19	2.16	3.18	1.15	1.70
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.83	0.79	0.69	0.86	0.51	0.60	0.57	0.64	0.51	0.55	0.75
Quick Ratio	0.44	0.51	0.50	0.39	0.24	0.29	0.21	0.32	0.22	0.30	0.51
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-0.27	-12	11	-5.67	-1.05	-3.29	-2.69	5.72	6.27	8.65	16
Operating Cash Flow to CapEx	30.01%	266.34%	215.43%	85.66%	37.35%	76.90%	45.66%	1,880.75%	-125.00%	-4,363.79%	10,335.29%
Free Cash Flow to Firm to Interest Expense	-0.15	-11.98	6.86	-3.74	-0.66	-2.05	-1.66	3.66	4.46	5.83	13.06
Operating Cash Flow to Interest Expense	0.35	4.76	2.20	2.27	1.15	1.69	0.53	3.19	-0.16	-1.71	4.40
Operating Cash Flow Less CapEx to Interest Expense	-0.81	2.97	1.18	-0.38	-1.93	-0.51	-0.64	3.02	-0.29	-1.74	4.36
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.95	0.97	0.96	0.90	0.92	0.87	0.85	0.81	0.80	0.76	0.77
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	7.38	7.38	6.93	6.36	5.79	5.43	5.25	5.03	4.79	4.65	4.92
Accounts Payable Turnover	26.09	19.00	17.09	16.69	10.57	14.03	16.33	12.78	8.97	10.61	10.58
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	13.99	19.21	21.35	21.87	34.52	26.02	22.35	28.57	40.69	34.39	34.50
Cash Conversion Cycle (CCC)	-13.99	-19.21	-21.35	-21.87	-34.52	-26.02	-22.35	-28.57	-40.69	-34.39	-34.50
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	148	145	144	146	147	146	145	141	134	135	128
Invested Capital Turnover	1.28	1.35	1.36	1.33	1.28	1.24	1.19	1.15	1.12	1.08	1.11
Increase / (Decrease) in Invested Capital	0.94	0.66	-3.51	2.18	-1.55	0.40	1.58	-5.17	-13	-9.35	-17
Enterprise Value (EV)	452	491	412	291	356	367	205	333	552	171	228
Market Capitalization	388	430	352	230	292	300	137	284	501	124	200
Book Value per Share	$1.48	$1.46	$1.45	$1.48	$1.43	$1.37	$1.32	$1.55	$1.32	$1.40	$1.61
Tangible Book Value per Share	($0.79)	($0.77)	($0.76)	($0.71)	($0.73)	($0.76)	($0.76)	($0.51)	($0.60)	($0.49)	($0.27)
Total Capital	157	156	155	156	153	154	151	149	139	144	145
Total Debt	73	72	71	71	70	75	74	58	57	56	45
Total Long-Term Debt	71	70	69	68	66	70	69	53	52	51	39
Net Debt	64	61	60	61	64	66	68	50	52	48	28
Capital Expenditures (CapEx)	2.12	1.83	1.56	4.02	4.90	3.53	1.90	0.27	0.18	0.06	0.05
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-9.92	-12	-15	-10	-15	-15	-13	-13	-12	-15	-19
Debt-free Net Working Capital (DFNWC)	-1.26	-2.23	-4.12	-0.24	-8.74	-7.24	-7.24	-4.87	-6.94	-6.99	-2.69
Net Working Capital (NWC)	-3.38	-4.35	-6.77	-3.43	-12	-11	-11	-9.42	-12	-12	-8.15
Net Nonoperating Expense (NNE)	2.34	-7.26	0.97	-0.28	3.44	2.14	1.73	1.14	2.69	-1.99	1.14
Net Nonoperating Obligations (NNO)	64	61	60	61	64	66	68	50	52	48	28
Total Depreciation and Amortization (D&A)	2.89	2.21	2.89	2.97	3.08	3.29	3.35	3.38	3.35	3.22	3.16
Debt-free, Cash-free Net Working Capital to Revenue	-5.25%	-6.38%	-7.63%	-5.23%	-7.79%	-8.58%	-7.43%	-7.91%	-7.83%	-10.17%	-12.76%
Debt-free Net Working Capital to Revenue	-0.67%	-1.14%	-2.08%	-0.12%	-4.63%	-4.02%	-4.21%	-2.95%	-4.40%	-4.60%	-1.77%
Net Working Capital to Revenue	-1.79%	-2.22%	-3.42%	-1.77%	-6.60%	-6.37%	-6.68%	-5.71%	-7.58%	-8.20%	-5.37%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.03)	($0.08)	$0.10	($0.06)	($0.10)	($0.08)	($0.05)	($0.01)	($0.15)	$0.02	($0.03)
Adjusted Weighted Average Basic Shares Outstanding	56.79M	56.78M	57.42M	57.56M	57.65M	57.69M	58.54M	59.59M	62.44M	60.45M	69.46M
Adjusted Diluted Earnings per Share	($0.03)	($0.08)	$0.10	($0.06)	($0.10)	($0.08)	($0.05)	($0.01)	($0.15)	$0.02	($0.03)
Adjusted Weighted Average Diluted Shares Outstanding	56.79M	56.78M	58.42M	57.56M	57.65M	57.69M	58.54M	59.59M	62.44M	60.45M	69.46M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	57.36M	57.42M	57.57M	57.59M	57.88M	58.57M	58.78M	62.44M	62.44M	70.55M	70.55M
Normalized Net Operating Profit after Tax (NOPAT)	0.67	1.14	7.01	-3.49	-2.60	-2.88	-1.11	0.63	-1.83	-0.70	-1.26
Normalized NOPAT Margin	1.43%	2.40%	14.71%	-6.84%	-6.11%	-7.36%	-2.83%	1.42%	-5.23%	-2.11%	-3.20%
Pre Tax Income Margin	-1.88%	1.30%	19.91%	-12.74%	-12.47%	-14.65%	-8.16%	-1.76%	-31.88%	-7.45%	-7.27%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.52	1.61	7.19	-3.29	-2.34	-2.57	-0.98	0.50	-6.93	-0.68	-1.39
NOPAT to Interest Expense	0.36	-11.34	4.57	-2.30	-1.63	-1.80	-0.68	0.35	-4.85	-0.48	-1.05
EBIT Less CapEx to Interest Expense	-0.63	-0.18	6.17	-5.94	-5.41	-4.76	-2.15	0.33	-7.06	-0.72	-1.43
NOPAT Less CapEx to Interest Expense	-0.79	-13.12	3.55	-4.95	-4.71	-3.99	-1.85	0.18	-4.98	-0.51	-1.10
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-8.92%	-10.94%	17.33%	-5.65%	-2.48%	-3.05%	0.00%	-1.64%	-1.32%	0.00%	0.00%
Augmented Payout Ratio	-8.92%	-10.94%	17.33%	-5.65%	-2.48%	-3.05%	0.00%	-1.64%	-1.32%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

AirSculpt Technologies (NASDAQ: AIRS) showed a notable sequential improvement in Q1 2026, but the broader multi-year picture still reflects a business with uneven profitability, meaningful leverage, and a reliance on external capital to strengthen liquidity.

In Q1 2026, revenue rose to $39.4 million from $33.4 million in Q4 2025, while the company cut its quarterly net loss to $2.4 million from a $1.3 million profit in Q4 and a much larger loss in Q3 2025. Operating cash flow also improved sharply to $5.3 million, helped by strong working-capital movements. At the same time, AirSculpt still reported a net loss, and its balance sheet continues to carry a heavy debt load.

Revenue rebounded in Q1 2026 to $39.4 million, up from $33.4 million in Q4 2025, showing a return to healthier top-line momentum.
Operating cash flow was strong in Q1 2026 at $5.3 million, a solid improvement from a negative $2.5 million in Q4 2025.
Quarterly losses narrowed materially versus the prior year’s weak quarters and versus Q3 2025, when the company lost $9.5 million.
Cash balance improved to $16.7 million at the end of Q1 2026, up from $5.4 million in Q3 2025 and $8.2 million in Q2 2025.
Debt was reduced in Q1 2026, with $11.4 million of debt repayment activity, while equity issuance added $14.6 million of financing.
Gross margin remains volatile, with quarterly revenue fluctuating meaningfully over the last year and cost structure changes driving results more than steady operating leverage.
Depreciation and amortization remain substantial, which means reported earnings are still being pressured by a large fixed-asset and intangible-asset base.
Share count has increased over time, reflecting repeated equity issuance that can dilute existing shareholders.
The company remains unprofitable on a trailing quarterly basis, posting a Q1 2026 net loss of $2.4 million despite revenue growth.
Leverage is still elevated, with about $44.8 million of total debt at Q1 2026 versus $16.7 million of cash.
Operating results were very weak in 2025, including Q3 2025 operating loss of $9.8 million and Q4 2025 operating loss of $1.0 million, highlighting inconsistent demand and cost control.
Goodwill and intangible assets are large relative to equity, which increases balance-sheet risk if business performance weakens further.

Looking at the broader trend, AirSculpt’s business has not followed a clean growth trajectory. Revenue moved from the high-$40 million range in early 2024 down into the mid-$30 million to low-$40 million range through 2025, while profitability swung from a strong Q1 2024 profit to losses in later quarters. The most encouraging recent development is that Q1 2026 showed better revenue, stronger operating cash generation, and improved liquidity. Still, investors should view the turnaround cautiously because the company is not yet consistently generating profit, and the balance sheet remains burdened by debt and non-cash assets.

07/10/26 09:26 AM ETAI Generated. May Contain Errors.

AirSculpt Technologies Financials - Frequently Asked Questions

According to the most recent income statement we have on file, AirSculpt Technologies' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

AirSculpt Technologies' net income appears to be on an upward trend, with a most recent value of -$11.67 million in 2025, rising from -$2.21 million in 2019. The previous period was -$8.02 million in 2024. Find out what analysts predict for AirSculpt Technologies in the coming months.

AirSculpt Technologies' total operating income in 2025 was -$11.56 million, based on the following breakdown:

Total Gross Profit: $90.13 million
Total Operating Expenses: $101.69 million

Over the last 6 years, AirSculpt Technologies' total revenue changed from $41.24 million in 2019 to $151.82 million in 2025, a change of 268.2%.

AirSculpt Technologies' total liabilities were at $99.59 million at the end of 2025, a 26.0% decrease from 2024, and a 78.1% increase since 2020.

In the past 5 years, AirSculpt Technologies' cash and equivalents has ranged from $8.24 million in 2024 to $25.35 million in 2021, and is currently $8.45 million as of their latest financial filing in 2025.

Over the last 6 years, AirSculpt Technologies' book value per share changed from 0.00 in 2019 to 1.40 in 2025, a change of 140.5%.

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Financial statements for NASDAQ:AIRS last updated on 7/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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AirSculpt Technologies (AIRS) Financials

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AirSculpt Technologies (AIRS) Financials

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How has AirSculpt Technologies' revenue changed over the last 6 years?

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