10-Q Filing

Airsculpt Technologies, Inc. CIK: 1870940 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001870940-22-000033`
Period End Date	20220331
Filing Date	20220513
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	airs-20220331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 61 Income Statement 24 Cash Flow Statement 45 Stockholders Equity 14

Balance Sheet 61 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, 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, authorized (in shares)	`CommonStockSharesAuthorized`	450.00M	shares	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	55.64M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$25.35M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$27.23M	USD	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	55.64M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.09M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.13M	USD	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
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	55.64M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$29.44M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$32.36M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$13.63M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$17.31M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$1.86M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$1.74M	USD	Point-in-time
Right of use operating lease assets	`OperatingLeaseRightOfUseAsset`	$19.30M	USD	Point-in-time
Right of use operating lease assets	`OperatingLeaseRightOfUseAsset`	$18.16M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$55.85M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$54.66M	USD	Point-in-time
Goodwill	`Goodwill`	$81.73M	USD	Point-in-time
Goodwill	`Goodwill`	$81.73M	USD	Point-in-time
Total assets	`Assets`	$207.23M	USD	Point-in-time
Total assets	`Assets`	$200.55M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.39M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.67M	USD	Point-in-time
Accrued payroll and benefits	`EmployeeRelatedLiabilitiesCurrent`	$2.39M	USD	Point-in-time
Accrued payroll and benefits	`EmployeeRelatedLiabilitiesCurrent`	$2.51M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$850.00K	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$850.00K	USD	Point-in-time
Deferred revenue and patient deposits	`ContractWithCustomerLiabilityCurrent`	$2.41M	USD	Point-in-time
Deferred revenue and patient deposits	`ContractWithCustomerLiabilityCurrent`	$2.81M	USD	Point-in-time
Accrued and other current liabilities	`AccruedLiabilitiesCurrent`	$4.10M	USD	Point-in-time
Accrued and other current liabilities	`AccruedLiabilitiesCurrent`	$3.07M	USD	Point-in-time
Current right of use operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$3.81M	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`	$15.91M	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$81.75M	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$81.75M	USD	Point-in-time
Deferred tax liability	`DeferredIncomeTaxLiabilitiesNet`	$4.35M	USD	Point-in-time
Deferred tax liability	`DeferredIncomeTaxLiabilitiesNet`	$4.35M	USD	Point-in-time
Long-term right of use operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$14.51M	USD	Point-in-time
Long-term right of use operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$15.35M	USD	Point-in-time
Total liabilities	`Liabilities`	$117.03M	USD	Point-in-time
Total liabilities	`Liabilities`	$117.36M	USD	Point-in-time
Commitments and contingent liabilities (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingent liabilities (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock	`CommonStockValue`	$56.00K	USD	Point-in-time
Common stock	`CommonStockValue`	$56.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$83.86M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$90.90M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.09M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-393.00K	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$89.87M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$83.53M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$207.23M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$200.55M	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$39.54M	USD	1 Quarter
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$26.14M	USD	1 Quarter
Cost of service (exclusive of depreciation and amortization shown below)	`CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization`	$8.79M	USD	1 Quarter
Cost of service (exclusive of depreciation and amortization shown below)	`CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization`	$14.66M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$8.66M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$24.17M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.89M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.49M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$40.72M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$18.93M	USD	1 Quarter
(Loss)/income from operations	`OperatingIncomeLoss`	$-1.17M	USD	1 Quarter
(Loss)/income from operations	`OperatingIncomeLoss`	$7.21M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$1.49M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$586.00K	USD	1 Quarter
Pre-tax net (loss)/income	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$6.62M	USD	1 Quarter
Pre-tax net (loss)/income	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.66M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-1.97M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net (loss)/income	`NetIncomeLoss`	$-693.00K	USD	1 Quarter
Net (loss)/income	`NetIncomeLoss`	$6.62M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	55.64M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	55.64M	shares	1 Quarter

Cash Flow Statement 45 line items

Line Item	Tag	Value	Unit	Period
Net (loss)/ income	`NetIncomeLoss`	$-693.00K	USD	1 Quarter
Net (loss)/ income	`NetIncomeLoss`	$6.62M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.89M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.49M	USD	1 Quarter
Equity-based compensation	`ShareBasedCompensation`	$86.00K	USD	1 Quarter
Equity-based compensation	`ShareBasedCompensation`	$7.32M	USD	1 Quarter
Non-cash interest expense; amortization of debt costs	`AmortizationOfFinancingCosts`	$208.00K	USD	1 Quarter
Non-cash interest expense; amortization of debt costs	`AmortizationOfFinancingCosts`	$53.00K	USD	1 Quarter
Prepaid expense and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-930.00K	USD	1 Quarter
Prepaid expense and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$313.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-908.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$3.23M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$621.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$150.00K	USD	1 Quarter
Deferred revenue and patient deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$642.00K	USD	1 Quarter
Deferred revenue and patient deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$-404.00K	USD	1 Quarter
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$446.00K	USD	1 Quarter
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-460.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$7.08M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$9.18M	USD	1 Quarter
Purchases of property and equipment, net	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.27M	USD	1 Quarter
Purchases of property and equipment, net	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.59M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.27M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.59M	USD	1 Quarter
Payment on term loan	`RepaymentsOfSecuredDebt`	$213.00K	USD	1 Quarter
Payment on term loan	`RepaymentsOfSecuredDebt`	$100.00K	USD	1 Quarter
Distribution to member	`PaymentsOfDistributionsToAffiliates`	$3.66M	USD	1 Quarter
Distribution to member	`PaymentsOfDistributionsToAffiliates`	$711.00K	USD	1 Quarter
Distribution to member	`PaymentsOfDistributionsToAffiliates`	$59.70M	USD	Point-in-time
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-924.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.76M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.88M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$3.83M	USD	1 Quarter
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$25.35M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.38M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$27.23M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.21M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$25.35M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.38M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$27.23M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.21M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$1.28M	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$538.00K	USD	1 Quarter
Property and equipment included in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$358.00K	USD	1 Quarter
Property and equipment included in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	-	USD	1 Quarter

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`MembersEquity`	$123.68M	USD	Point-in-time
Beginning balance	`MembersEquity`	$126.72M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$89.87M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$83.53M	USD	Point-in-time
Distributions	`MembersEquityDistributions`	$3.66M	USD	1 Quarter
Distributions	`AdjustmentsToAdditionalPaidInCapitalDecreaseFromDistributionsToParent`	$282.00K	USD	1 Quarter
Equity-based compensation	`LimitedLiabilityCompanyLLCMembersEquityUnitBasedCompensation`	$86.00K	USD	1 Quarter
Equity-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$7.32M	USD	1 Quarter
Net (loss)/ income	`NetIncomeLoss`	$-693.00K	USD	1 Quarter
Net (loss)/ income	`NetIncomeLoss`	$6.62M	USD	1 Quarter
Ending balance	`MembersEquity`	$123.68M	USD	Point-in-time
Ending balance	`MembersEquity`	$126.72M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$89.87M	USD	Point-in-time
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.