AirSculpt Technologies (NASDAQ: AIRS) saw its stock price plummet 26.12% in pre-market trading on Friday following the release of its disappointing third-quarter earnings report. The aesthetic surgery company reported results that fell short of analyst expectations across multiple key metrics, raising concerns about its near-term growth prospects.
For the third quarter, AirSculpt reported a loss of $0.04 per share, double the analyst consensus estimate of a $0.02 per share loss. This also represents a significant deterioration from the $0.02 per share loss reported in the same period last year. Revenue for the quarter came in at $34.993 million, missing the analyst estimate of $39.523 million by 11.46%. More alarmingly, this figure represents a 17.76% decrease in sales compared to the $42.548 million reported in the same quarter of the previous year.
The company's adjusted EBITDA for the quarter was $3 million, falling short of the $3.81 million expected by analysts. In light of these results, AirSculpt has revised its full-year revenue outlook to $153 million, which may be contributing to investor concerns about the company's growth trajectory. The significant pre-market drop in share price reflects the market's negative reaction to these results and the uncertainty surrounding the company's ability to meet future growth expectations in the competitive aesthetic surgery industry.
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