10-Q Filing

Airsculpt Technologies, Inc. CIK: 1870940 Q2 2022

Filing Information

Form Type	10-Q
Accession Number	`0001870940-22-000046`
Period End Date	20220630
Filing Date	20220812
Fiscal Year	2022
Fiscal Period	Q2
XBRL Instance	airs-20220630_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 58 Cash Flow Statement 65 Stockholders Equity 26

Balance Sheet 62 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
Common stock, issued (in shares)	`CommonStockSharesIssued`	55.64M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$35.25M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$25.35M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.46M	USD	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	55.64M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.09M	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
Total current assets	`AssetsCurrent`	$38.71M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$29.44M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$20.35M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$13.63M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$2.49M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$1.74M	USD	Point-in-time
Right of use operating lease assets	`OperatingLeaseRightOfUseAsset`	$22.02M	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`	$53.48M	USD	Point-in-time
Goodwill	`Goodwill`	$81.73M	USD	Point-in-time
Goodwill	`Goodwill`	$81.73M	USD	Point-in-time
Total assets	`Assets`	$218.78M	USD	Point-in-time
Total assets	`Assets`	$200.55M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.67M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.69M	USD	Point-in-time
Accrued payroll and benefits	`EmployeeRelatedLiabilitiesCurrent`	$2.79M	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`	$2.61M	USD	Point-in-time
Deferred revenue and patient deposits	`ContractWithCustomerLiabilityCurrent`	$2.81M	USD	Point-in-time
Accrued and other current liabilities	`AccruedLiabilitiesCurrent`	$2.11M	USD	Point-in-time
Accrued and other current liabilities	`AccruedLiabilitiesCurrent`	$4.10M	USD	Point-in-time
Current right of use operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$3.47M	USD	Point-in-time
Current right of use operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$4.21M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$16.41M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$17.27M	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$81.75M	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$81.81M	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`	$17.91M	USD	Point-in-time
Total liabilities	`Liabilities`	$121.34M	USD	Point-in-time
Total liabilities	`Liabilities`	$117.03M	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, $0.001 par value; shares authorized - 450,000,000; shares issued and outstanding - 55,640,154	`CommonStockValue`	$56.00K	USD	Point-in-time
Common stock, $0.001 par value; shares authorized - 450,000,000; shares issued and outstanding - 55,640,154	`CommonStockValue`	$56.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$97.88M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$83.86M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-393.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-503.00K	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$97.43M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$83.53M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$89.87M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$218.78M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$200.55M	USD	Point-in-time

Income Statement 58 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$89.20M	USD	2 Qtrs
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$49.65M	USD	1 Quarter
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$61.11M	USD	2 Qtrs
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$34.97M	USD	1 Quarter
Cost of service (exclusive of depreciation and amortization shown below)	`CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization`	$20.01M	USD	2 Qtrs
Cost of service (exclusive of depreciation and amortization shown below)	`CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization`	$32.15M	USD	2 Qtrs
Cost of service (exclusive of depreciation and amortization shown below)	`CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization`	$17.49M	USD	1 Quarter
Cost of service (exclusive of depreciation and amortization shown below)	`CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization`	$11.22M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$50.18M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$10.33M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$26.01M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$18.99M	USD	2 Qtrs
Loss on debt modification	`GainsLossesOnRestructuringOfDebt`	$-682.00K	USD	2 Qtrs
Loss on debt modification	`GainsLossesOnRestructuringOfDebt`	$-682.00K	USD	1 Quarter
Loss on debt modification	`GainsLossesOnRestructuringOfDebt`	-	USD	1 Quarter
Loss on debt modification	`GainsLossesOnRestructuringOfDebt`	-	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.02M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.96M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.85M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.53M	USD	1 Quarter
Loss on disposal of long-lived assets	`GainLossOnDispositionOfAssets`	$-227.00K	USD	2 Qtrs
Loss on disposal of long-lived assets	`GainLossOnDispositionOfAssets`	$-227.00K	USD	1 Quarter
Loss on disposal of long-lived assets	`GainLossOnDispositionOfAssets`	-	USD	2 Qtrs
Loss on disposal of long-lived assets	`GainLossOnDispositionOfAssets`	-	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$86.41M	USD	2 Qtrs
Total operating expenses	`CostsAndExpenses`	$45.69M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$42.70M	USD	2 Qtrs
Total operating expenses	`CostsAndExpenses`	$23.77M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$2.79M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$18.41M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$11.20M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$3.96M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$1.76M	USD	2 Qtrs
Interest expense, net	`InterestExpense`	$3.05M	USD	2 Qtrs
Interest expense, net	`InterestExpense`	$1.56M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$1.17M	USD	1 Quarter
Pre-tax net income/(loss)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-259.00K	USD	2 Qtrs
Pre-tax net income/(loss)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$16.65M	USD	2 Qtrs
Pre-tax net income/(loss)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$10.03M	USD	1 Quarter
Pre-tax net income/(loss)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.40M	USD	1 Quarter
Income tax expense/(benefit)	`IncomeTaxExpenseBenefit`	$1.82M	USD	1 Quarter
Income tax expense/(benefit)	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense/(benefit)	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Income tax expense/(benefit)	`IncomeTaxExpenseBenefit`	$-149.00K	USD	2 Qtrs
Net income/(loss)	`NetIncomeLoss`	$10.03M	USD	1 Quarter
Net income/(loss)	`NetIncomeLoss`	$-693.00K	USD	1 Quarter
Net income/(loss)	`NetIncomeLoss`	$-110.00K	USD	2 Qtrs
Net income/(loss)	`NetIncomeLoss`	$583.00K	USD	1 Quarter
Net income/(loss)	`NetIncomeLoss`	$6.62M	USD	1 Quarter
Net income/(loss)	`NetIncomeLoss`	$16.65M	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.01	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	-	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.01	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	-	USD	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	55.64M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	55.64M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	55.64M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	58.36M	shares	1 Quarter

Cash Flow Statement 65 line items

Line Item	Tag	Value	Unit	Period
Net (loss)/ income	`NetIncomeLoss`	$10.03M	USD	1 Quarter
Net (loss)/ income	`NetIncomeLoss`	$-693.00K	USD	1 Quarter
Net (loss)/ income	`NetIncomeLoss`	$-110.00K	USD	2 Qtrs
Net (loss)/ income	`NetIncomeLoss`	$583.00K	USD	1 Quarter
Net (loss)/ income	`NetIncomeLoss`	$6.62M	USD	1 Quarter
Net (loss)/ income	`NetIncomeLoss`	$16.65M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.02M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.96M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.85M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.53M	USD	1 Quarter
Equity-based compensation	`ShareBasedCompensation`	$14.59M	USD	2 Qtrs
Equity-based compensation	`ShareBasedCompensation`	$172.00K	USD	2 Qtrs
Non-cash interest expense; amortization of debt costs	`AmortizationOfFinancingCosts`	$100.00K	USD	1 Quarter
Non-cash interest expense; amortization of debt costs	`AmortizationOfFinancingCosts`	$300.00K	USD	1 Quarter
Non-cash interest expense; amortization of debt costs	`AmortizationOfFinancingCosts`	$191.00K	USD	2 Qtrs
Non-cash interest expense; amortization of debt costs	`AmortizationOfFinancingCosts`	$482.00K	USD	2 Qtrs
Loss on debt modification	`GainsLossesOnRestructuringOfDebt`	$-682.00K	USD	2 Qtrs
Loss on debt modification	`GainsLossesOnRestructuringOfDebt`	$-682.00K	USD	1 Quarter
Loss on debt modification	`GainsLossesOnRestructuringOfDebt`	-	USD	1 Quarter
Loss on debt modification	`GainsLossesOnRestructuringOfDebt`	-	USD	2 Qtrs
Loss on disposal of long-lived assets	`GainLossOnDispositionOfAssets`	$-227.00K	USD	2 Qtrs
Loss on disposal of long-lived assets	`GainLossOnDispositionOfAssets`	$-227.00K	USD	1 Quarter
Loss on disposal of long-lived assets	`GainLossOnDispositionOfAssets`	-	USD	2 Qtrs
Loss on disposal of long-lived assets	`GainLossOnDispositionOfAssets`	-	USD	1 Quarter
Prepaid expense and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$478.00K	USD	2 Qtrs
Prepaid expense and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-832.00K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$4.79M	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-1.38M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$541.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$756.00K	USD	2 Qtrs
Deferred revenue and patient deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$-203.00K	USD	2 Qtrs
Deferred revenue and patient deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$1.76M	USD	2 Qtrs
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-114.00K	USD	2 Qtrs
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$1.85M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$17.48M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$23.81M	USD	2 Qtrs
Purchases of property and equipment, net	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.15M	USD	2 Qtrs
Purchases of property and equipment, net	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.14M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.15M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.14M	USD	2 Qtrs
Payment on term loan	`RepaymentsOfSecuredDebt`	$425.00K	USD	2 Qtrs
Payment on term loan	`RepaymentsOfSecuredDebt`	$413.00K	USD	2 Qtrs
Borrowings on term loan, net	`ProceedsFromIssuanceOfSecuredDebt`	-	USD	2 Qtrs
Borrowings on term loan, net	`ProceedsFromIssuanceOfSecuredDebt`	$49.99M	USD	2 Qtrs
Distribution to member	`PaymentsOfDistributionsToAffiliates`	$63.78M	USD	2 Qtrs
Distribution to member	`PaymentsOfDistributionsToAffiliates`	$1.01M	USD	2 Qtrs
Distribution to member	`PaymentsOfDistributionsToAffiliates`	$59.70M	USD	Point-in-time
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.43M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-14.20M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$6.47M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$9.91M	USD	2 Qtrs
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$16.85M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.38M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$35.25M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$25.35M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$16.85M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.38M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$35.25M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$25.35M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$2.57M	USD	2 Qtrs
Cash paid for interest	`InterestPaidNet`	$1.57M	USD	2 Qtrs
Cash paid for taxes	`IncomeTaxesPaid`	$184.00K	USD	2 Qtrs
Cash paid for taxes	`IncomeTaxesPaid`	-	USD	2 Qtrs
Property and equipment included in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	-	USD	2 Qtrs
Property and equipment included in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$2.28M	USD	2 Qtrs

Stockholders Equity 26 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`MembersEquity`	$76.72M	USD	Point-in-time
Beginning balance	`MembersEquity`	$126.72M	USD	Point-in-time
Beginning balance	`MembersEquity`	$123.68M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$97.43M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$83.53M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$89.87M	USD	Point-in-time
Distributions	`MembersEquityDistributions`	$3.66M	USD	1 Quarter
Distributions	`MembersEquityDistributions`	$60.12M	USD	1 Quarter
Distributions	`AdjustmentsToAdditionalPaidInCapitalDecreaseFromDistributionsToParent`	$282.00K	USD	1 Quarter
Distributions	`AdjustmentsToAdditionalPaidInCapitalDecreaseFromDistributionsToParent`	$294.00K	USD	1 Quarter
Equity-based compensation	`LimitedLiabilityCompanyLLCMembersEquityUnitBasedCompensation`	$86.00K	USD	1 Quarter
Equity-based compensation	`LimitedLiabilityCompanyLLCMembersEquityUnitBasedCompensation`	$86.00K	USD	1 Quarter
Equity-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$7.28M	USD	1 Quarter
Equity-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$7.32M	USD	1 Quarter
Net (loss)/ income	`NetIncomeLoss`	$10.03M	USD	1 Quarter
Net (loss)/ income	`NetIncomeLoss`	$-693.00K	USD	1 Quarter
Net (loss)/ income	`NetIncomeLoss`	$-110.00K	USD	2 Qtrs
Net (loss)/ income	`NetIncomeLoss`	$583.00K	USD	1 Quarter
Net (loss)/ income	`NetIncomeLoss`	$6.62M	USD	1 Quarter
Net (loss)/ income	`NetIncomeLoss`	$16.65M	USD	2 Qtrs
Ending balance	`MembersEquity`	$76.72M	USD	Point-in-time
Ending balance	`MembersEquity`	$126.72M	USD	Point-in-time
Ending balance	`MembersEquity`	$123.68M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$97.43M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$83.53M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$89.87M	USD	Point-in-time

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