AIRS Airsculpt Technologies, Inc.

Overview and Growth

Fiscal 2025 results for Airsculpt Technologies, Inc. combined $151.82M of revenue with net loss of $11.67M and an operating cash inflow of $3.10M. The $151.82M revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. Compared with $180.35M in fiscal 2024, revenue decreased 15.8%, a top-line contraction that reduced operating scale. On a per-share basis, diluted EPS was -$0.19, which connects the reported earnings outcome with the company’s diluted share count. The revenue-to-assets relationship was 0.81x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

The first profit layer was $90.13M of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. Gross profit represented 59.4% of revenue, showing how much of the top line remained after direct costs. The reported operating result was an operating loss of $11.56M, reflecting costs that exceeded gross profit. Relative to revenue, the operating deficit measured 7.6%, showing the shortfall after operating costs. The company ended the period with a net loss of $11.67M, extending the operating result through all remaining items. The net loss equaled 7.7% of revenue, showing the bottom-line deficit relative to the company’s sales base. The pretax result was a loss of $17.64M, establishing the deficit before tax effects. The pretax loss equaled 11.6% of revenue, measuring the pre-tax deficit against sales. An income-tax benefit of $5.97M improved the final result relative to pretax income or loss. The net loss equaled 13.3% of period-end equity, showing the deficit relative to book capital. The net loss equaled 6.2% of period-end assets, showing the deficit relative to the asset base.

Liquidity and Capital Structure

The company held $187.30M of assets against $99.59M of liabilities and $87.71M of equity, revealing how the asset base was financed. Current assets were $15.46M against $27.90M of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. Current assets covered only 0.55x of current liabilities, so current liabilities exceeded current assets at period end. The company held $8.45M in cash and equivalents, a narrower liquidity measure than total current assets. The cash balance equaled 30.3% of current liabilities, showing how much near-term coverage came from cash alone. Borrowings totaled $56.05M, adding a fixed financing obligation alongside the company’s equity capital. The debt-to-equity relationship was 0.64x, showing how much debt the company carried for each unit of book equity. The debt-to-assets relationship was 29.9%, comparing borrowing with the total asset balance. Relative to total assets, liabilities measured 53.2%, complementing the separate equity-based view of the company’s capital structure. The cash-to-assets relationship was 4.5%, comparing reported cash and equivalents with the full positive asset balance. Compared with $212.78M in fiscal 2024, the current asset base moved 12.0% and finished lower. Book equity was 12.2% higher than fiscal 2024 equity of $78.19M, showing how shareholder capital changed year over year.

Cash Flow and Earnings Quality

The company reported $3.10M of operating cash flow, a cash inflow that shows the cash generated by operations. Capital spending was $2.40M, absorbing part of the cash generated from operations before free cash flow. Capital expenditures represented 77.6% of operating cash flow, leaving the remainder available as free cash flow. The combination of operating cash flow and capital spending produced $692.00K of positive free cash flow for the period. The free-cash-flow margin was 0.5%, measuring cash remaining after capital spending against revenue. Measured against total assets, free cash flow represented 0.4%, showing the cash productivity of the company’s assets.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Sep 24, 2026.