10-K Filing

Airsculpt Technologies, Inc. CIK: 1870940 FY 2021

Filing Information

Form Type	10-K
Accession Number	`0001870940-22-000011`
Period End Date	20211231
Filing Date	20220311
Fiscal Year	2021
Fiscal Period	FY
XBRL Instance	airs-20211231_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 59 Income Statement 39 Cash Flow Statement 80 Stockholders Equity 22

Balance Sheet 59 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	450.00M	shares	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	0.00	shares	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	55.64M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.38M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$25.35M	USD	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	55.64M	shares	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	55.64M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.18M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.09M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$29.44M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$11.56M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$7.11M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$13.63M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$1.74M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$1.54M	USD	Point-in-time
Right of use operating lease assets	`OperatingLeaseRightOfUseAsset`	$18.16M	USD	Point-in-time
Right of use operating lease assets	`OperatingLeaseRightOfUseAsset`	$17.05M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$60.61M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$55.85M	USD	Point-in-time
Goodwill	`Goodwill`	$81.73M	USD	Point-in-time
Goodwill	`Goodwill`	$81.73M	USD	Point-in-time
Total assets	`Assets`	$179.61M	USD	Point-in-time
Total assets	`Assets`	$200.55M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.09M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.67M	USD	Point-in-time
Accrued payroll and benefits	`EmployeeRelatedLiabilitiesCurrent`	$1.26M	USD	Point-in-time
Accrued payroll and benefits	`EmployeeRelatedLiabilitiesCurrent`	$2.51M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$400.00K	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$850.00K	USD	Point-in-time
Deferred revenue and patient deposits	`ContractWithCustomerLiabilityCurrent`	$2.81M	USD	Point-in-time
Deferred revenue and patient deposits	`ContractWithCustomerLiabilityCurrent`	$3.23M	USD	Point-in-time
Accrued and other current liabilities	`AccruedLiabilitiesCurrent`	$4.10M	USD	Point-in-time
Accrued and other current liabilities	`AccruedLiabilitiesCurrent`	$581.00K	USD	Point-in-time
Current right of use operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$2.89M	USD	Point-in-time
Current right of use operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$3.47M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$16.41M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$9.46M	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$81.75M	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$32.12M	USD	Point-in-time
Deferred tax liability	`DeferredIncomeTaxLiabilitiesNet`	$4.35M	USD	Point-in-time
Deferred tax liability	`DeferredIncomeTaxLiabilitiesNet`	-	USD	Point-in-time
Long-term right of use operating lease liability	`OperatingLeaseLiabilityNoncurrent`	$14.36M	USD	Point-in-time
Long-term right of use operating lease liability	`OperatingLeaseLiabilityNoncurrent`	$14.51M	USD	Point-in-time
Total liabilities	`Liabilities`	$55.93M	USD	Point-in-time
Total liabilities	`Liabilities`	$117.03M	USD	Point-in-time
Commitments and contingent liabilities (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingent liabilities (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Members equity	`MembersCapital`	$123.68M	USD	Point-in-time
Common stock, $0.001 par value; shares authorized - 450,000,000; shares issued and outstanding - 55,640,154 and zero, respectively	`CommonStockValue`	$56.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$83.86M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-393.00K	USD	Point-in-time
Total members/stockholders equity	`StockholdersEquity`	$83.53M	USD	Point-in-time
Total members/stockholders equity	`MembersEquity`	$120.39M	USD	Point-in-time
Total members/stockholders equity	`MembersEquity`	$122.55M	USD	Point-in-time
Total members/stockholders equity	`MembersEquity`	$123.68M	USD	Point-in-time
Total liabilities and members/stockholders equity	`LiabilitiesAndStockholdersEquity`	$200.55M	USD	Point-in-time
Total liabilities and members/stockholders equity	`LiabilitiesAndStockholdersEquity`	$179.61M	USD	Point-in-time

Income Statement 39 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$62.77M	USD	Annual
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$133.31M	USD	Annual
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$41.24M	USD	Annual
Cost of service (exclusive of depreciation and amortization shown below)	`CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization`	$44.54M	USD	Annual
Cost of service (exclusive of depreciation and amortization shown below)	`CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization`	$15.49M	USD	Annual
Cost of service (exclusive of depreciation and amortization shown below)	`CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization`	$23.47M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$20.12M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$23.62M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$65.73M	USD	Annual
Loss on debt modification	`GainsLossesOnRestructuringOfDebt`	$-682.00K	USD	Annual
Loss on debt modification	`GainsLossesOnRestructuringOfDebt`	-	USD	Annual
Loss on debt modification	`GainsLossesOnRestructuringOfDebt`	-	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.96M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.64M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$6.60M	USD	Annual
Total operating expenses	`CostsAndExpenses`	$40.57M	USD	Annual
Total operating expenses	`CostsAndExpenses`	$52.73M	USD	Annual
Total operating expenses	`CostsAndExpenses`	$117.55M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$15.77M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$10.03M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$663.00K	USD	Annual
Interest expense, net	`InterestExpense`	$2.88M	USD	Annual
Interest expense, net	`InterestExpense`	$4.89M	USD	Annual
Interest expense, net	`InterestExpense`	$2.46M	USD	Annual
Pre-tax net income (loss)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.21M	USD	Annual
Pre-tax net income (loss)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$10.88M	USD	Annual
Pre-tax net income (loss)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$7.58M	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$329.00K	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-393.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$7.58M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$10.94M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$10.55M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-2.21M	USD	Annual
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.01	USD	Annual
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.01	USD	Annual
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	55.64M	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	55.64M	shares	Annual

Cash Flow Statement 80 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-393.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$7.58M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$10.94M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$10.55M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-2.21M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.96M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.64M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$6.60M	USD	Annual
Equity-based compensation	`ShareBasedCompensation`	$341.00K	USD	Annual
Equity-based compensation	`ShareBasedCompensation`	$325.00K	USD	Annual
Equity-based compensation	`ShareBasedCompensation`	$7.18M	USD	Annual
Loss on debt modification	`GainsLossesOnRestructuringOfDebt`	$-682.00K	USD	Annual
Loss on debt modification	`GainsLossesOnRestructuringOfDebt`	-	USD	Annual
Loss on debt modification	`GainsLossesOnRestructuringOfDebt`	-	USD	Annual
Non-cash interest expense; amortization of debt costs	`AmortizationOfFinancingCosts`	$226.00K	USD	Annual
Non-cash interest expense; amortization of debt costs	`AmortizationOfFinancingCosts`	$639.00K	USD	Annual
Non-cash interest expense; amortization of debt costs	`AmortizationOfFinancingCosts`	$211.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	-	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	-	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$208.00K	USD	Annual
Prepaid expense and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.85M	USD	Annual
Prepaid expense and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-275.00K	USD	Annual
Prepaid expense and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.84M	USD	Annual
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$1.30M	USD	Annual
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$635.00K	USD	Annual
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$204.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.87M	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.02M	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.58M	USD	Annual
Deferred revenue and patient deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$45.00K	USD	Annual
Deferred revenue and patient deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$-423.00K	USD	Annual
Deferred revenue and patient deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$1.83M	USD	Annual
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$4.77M	USD	Annual
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$1.11M	USD	Annual
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$392.00K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.94M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$13.96M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$26.63M	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.44M	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.69M	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.12M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.69M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.44M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.12M	USD	Annual
Payment on term loan	`RepaymentsOfSecuredDebt`	$500.00K	USD	Annual
Payment on term loan	`RepaymentsOfSecuredDebt`	$2.90M	USD	Annual
Payment on term loan	`RepaymentsOfSecuredDebt`	$838.00K	USD	Annual
Borrowings on term loan	`ProceedsFromIssuanceOfSecuredDebt`	$49.60M	USD	Annual
Borrowings on term loan	`ProceedsFromIssuanceOfSecuredDebt`	$2.50M	USD	Annual
Borrowings on term loan	`ProceedsFromIssuanceOfSecuredDebt`	-	USD	Annual
Proceeds from IPO	`ProceedsFromIssuanceInitialPublicOffering`	$13.54M	USD	Annual
Proceeds from IPO	`ProceedsFromIssuanceInitialPublicOffering`	-	USD	Annual
Proceeds from IPO	`ProceedsFromIssuanceInitialPublicOffering`	-	USD	Annual
Distributions to member	`PaymentsOfDistributionsToAffiliates`	$59.70M	USD	Point-in-time
Distributions to member	`PaymentsOfDistributionsToAffiliates`	$66.86M	USD	Annual
Distributions to member	`PaymentsOfDistributionsToAffiliates`	$283.00K	USD	Annual
Distributions to member	`PaymentsOfDistributionsToAffiliates`	$4.62M	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-5.02M	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-783.00K	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.55M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$14.97M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-284.00K	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$5.25M	USD	Annual
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.13M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$25.35M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.41M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.38M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.13M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$25.35M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.41M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.38M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$4.25M	USD	Annual
Cash paid for interest	`InterestPaidNet`	$2.29M	USD	Annual
Cash paid for interest	`InterestPaidNet`	$2.68M	USD	Annual
Property and equipment included in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	-	USD	Annual
Property and equipment included in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	-	USD	Annual
Property and equipment included in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$255.00K	USD	Annual
Distributions to member included in accrued expenses	`DistributionsToAffiliatesIncurredButNotYetPaid`	-	USD	Annual
Distributions to member included in accrued expenses	`DistributionsToAffiliatesIncurredButNotYetPaid`	-	USD	Annual
Distributions to member included in accrued expenses	`DistributionsToAffiliatesIncurredButNotYetPaid`	$427.00K	USD	Annual

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Issuance costs	`PaymentsOfStockIssuanceCosts`	$10.37M	USD	Annual
Beginning balance	`MembersEquity`	$120.39M	USD	Point-in-time
Beginning balance	`MembersEquity`	$122.55M	USD	Point-in-time
Beginning balance	`MembersEquity`	$123.68M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$83.53M	USD	Point-in-time
Distributions	`MembersEquityDistributions`	$283.00K	USD	Annual
Distributions	`MembersEquityDistributions`	$67.28M	USD	Annual
Distributions	`MembersEquityDistributions`	$4.62M	USD	Annual
Equity-based compensation	`LimitedLiabilityCompanyLLCMembersEquityUnitBasedCompensation`	$325.00K	USD	Annual
Equity-based compensation	`LimitedLiabilityCompanyLLCMembersEquityUnitBasedCompensation`	$2.46M	USD	Annual
Equity-based compensation	`LimitedLiabilityCompanyLLCMembersEquityUnitBasedCompensation`	$341.00K	USD	Annual
Other	`MembersEquityOther`	$3.00K	USD	Annual
Reorganization transaction	`StockIssuedDuringPeriodValueConversionOfUnits`	-	USD	Annual
Recognition of deferred tax liability in connection with Reorganization	`AdjustmentsToAdditionalPaidInCapitalRecognitionOfDeferredTaxes`	$4.14M	USD	Annual
Issuance of common stock in connection with the IPO, net of issuance costs of $10,372	`StockIssuedDuringPeriodValueNewIssues`	$13.54M	USD	Annual
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$4.72M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-393.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$7.58M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$10.94M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$10.55M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-2.21M	USD	Annual
Ending balance	`StockholdersEquity`	$83.53M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.