24/7 Market News Snapshot 08 November, 2024 – AirSculpt Technologies, Inc. Common Stock (NASDAQ:AIRS)

November 8, 2024

DENVER, Colo., 08 November, 2024 (247marketnews.com) – (NASDAQ:AIRS) are discussed in this article.
AirSculpt Technologies, Inc. (NASDAQ:AIRS), a premier provider of body contouring procedures, opened the trading day at $7.79 and quickly surged to $8.59, reflecting a notable increase of 19.53% from the previous close of $7.19. The current trading volume of approximately 500.89K shares indicates heightened market interest. This price movement may signal bullish momentum, with traders advised to observe key support levels around $7.79 and potential resistance nearing the psychological threshold of $9.

In conjunction with these stock performance metrics, the company recently disclosed its financial results for the third quarter and the nine-month period ending September 30, 2024. During the third quarter, AirSculpt registered a case volume of 3,277, marking a 4.3% decrease from the same period last year. Revenue for the quarter fell 9.1% year-over-year to approximately $42.5 million, while Adjusted EBITDA was reported at $4.7 million, a decrease from $9.1 million year-over-year. Despite these downturns, Interim CEO and CFO Dennis Dean highlighted the successful launch of four new centers and ongoing initiatives to convert leads into consultations and procedures.

For the nine-month period, total case volume reached 10,972, a decline of 2.5%, with total revenue decreasing 4.8% to $141.2 million. The company recorded a net loss of $3.2 million but reaffirmed its revenue guidance of between $183 million and $189 million for the full year.

Looking forward, AirSculpt plans to open five additional centers and aims to enhance operational efficiencies to adapt to the current market landscape. With $6.0 million in cash and a strong focus on sustainable growth, the company remains dedicated to delivering innovative body contouring solutions amidst competitive pressures.

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