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AirSculpt's Shares Tumble As Q2 Results Disappoints, 2024 Guidance Slashed, And Leadership Shakeup Adds To Concerns
AirSculpt Technologies, Inc. (NASDAQ:AIRS) saw its stock plunge after announcing its second-quarter 2024 results, lowering its full-year guidance, and revealing leadership changes on Friday.
AIRS revenues declined 8.4% year-over-year to $51.004 million, missing the consensus of $55.26 million. Case volume fell 5.7% YoY to 3,949 for the quarter.
Adjusted EPS was $0.09, down from $0.13 a year ago, beating the street view of $0.04.
Adjusted net income was $5.14 million, down from $7.643 million in the prior year. Operating loss for the quarter totaled $4.981 million, compared to operating income of $5.362 million.
As of June-end, the company had $9.9 million in cash and equivalents. AIRS generated $6.8 million in operating cash flow for the six months ended June, compared to $18.5 million a year ago.
Second-quarter adjusted EBITDA fell ...