AirSculpt Technologies (AIRS) Q1 2026 earnings summary

Executive summary

• Revenue stabilized at $39.4 million for Q1 2026, flat year-over-year, with same-center sales up 1% and 3,082 cases performed across 31 centers.

• Gross margin expanded by roughly 1% to 60% of revenue, with profitability aided by reduced non-consumer-facing expenses and increased marketing and talent investments.

• Adjusted EBITDA was $3.3 million (8.4% margin), down from $3.8 million (9.5% margin) in Q1 2025.

• Net loss narrowed to $2.4 million from $2.8 million in Q1 2025.

• Strategic priorities include new services for the GLP-1 market, enhanced sales and marketing, and strong financial discipline.

Financial highlights

• Revenue per case was $12,780, nearly unchanged from $12,799 in Q1 2025.

• Cost of services was $15.6 million, down $0.4 million year-over-year mainly due to lower medical payroll.

• SG&A expenses were $22.6 million, up $800,000 year-over-year due to increased marketing and brand investment.

• Interest expense declined to $1.2 million from $1.6 million due to principal prepayments.

• Cash flow from operations was $5.3 million, up from $1 million in Q1 2025.

Outlook and guidance

• Reaffirmed full-year 2026 outlook: revenue of $151–$157 million and Adjusted EBITDA of $15–$17 million.

• Midpoint of revenue guidance reflects ~3% comparable growth excluding London.

• No new center openings planned for 2026; focus remains on same-center sales growth.

• Management expects cash from operations to cover working capital, liquidity, and debt payments for at least 12 months.

• Expect sequential improvement in revenue and EBITDA in Q2, the seasonally strongest quarter.