10-Q Filing

Airsculpt Technologies, Inc. CIK: 1870940 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001870940-23-000029`
Period End Date	20230331
Filing Date	20230512
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	airs-20230331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 30 Cash Flow Statement 48 Stockholders Equity 16 Comprehensive Income 8

Balance Sheet 69 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`	56.18M	shares	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	56.71M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.28M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.62M	USD	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	56.18M	shares	Point-in-time
Taxes receivable	`IncomeTaxesReceivable`	$2.83M	USD	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	56.71M	shares	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	55.64M	shares	Point-in-time
Taxes receivable	`IncomeTaxesReceivable`	$2.74M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.86M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.23M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$17.89M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$16.68M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$24.21M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$27.28M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$3.27M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$3.28M	USD	Point-in-time
Right of use operating lease assets	`OperatingLeaseRightOfUseAsset`	$29.43M	USD	Point-in-time
Right of use operating lease assets	`OperatingLeaseRightOfUseAsset`	$23.76M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$49.91M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$51.10M	USD	Point-in-time
Goodwill	`Goodwill`	$81.73M	USD	Point-in-time
Goodwill	`Goodwill`	$81.73M	USD	Point-in-time
Total assets	`Assets`	$209.52M	USD	Point-in-time
Total assets	`Assets`	$200.76M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.34M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.84M	USD	Point-in-time
Accrued payroll and benefits	`EmployeeRelatedLiabilitiesCurrent`	$2.46M	USD	Point-in-time
Accrued payroll and benefits	`EmployeeRelatedLiabilitiesCurrent`	$2.99M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$2.12M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$2.12M	USD	Point-in-time
Deferred revenue and patient deposits	`ContractWithCustomerLiabilityCurrent`	$3.89M	USD	Point-in-time
Deferred revenue and patient deposits	`ContractWithCustomerLiabilityCurrent`	$2.36M	USD	Point-in-time
Accrued and other current liabilities	`AccruedLiabilitiesCurrent`	$6.64M	USD	Point-in-time
Accrued and other current liabilities	`AccruedLiabilitiesCurrent`	$3.62M	USD	Point-in-time
Current operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$4.36M	USD	Point-in-time
Current operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$5.08M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$22.32M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$21.52M	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$81.42M	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$81.15M	USD	Point-in-time
Deferred tax liability, net	`DeferredIncomeTaxLiabilitiesNet`	$5.49M	USD	Point-in-time
Deferred tax liability, net	`DeferredIncomeTaxLiabilitiesNet`	$5.49M	USD	Point-in-time
Long-term operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$19.75M	USD	Point-in-time
Long-term operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$25.12M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$1.02M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$1.02M	USD	Point-in-time
Total liabilities	`Liabilities`	$129.99M	USD	Point-in-time
Total liabilities	`Liabilities`	$134.29M	USD	Point-in-time
Commitments and contingent liabilities (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingent liabilities (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value; shares authorized - 450,000,000; shares issued and outstanding - 56,711,260 and 56,181,689, respectively	`CommonStockValue`	$56.00K	USD	Point-in-time
Common stock, $0.001 par value; shares authorized - 450,000,000; shares issued and outstanding - 56,711,260 and 56,181,689, respectively	`CommonStockValue`	$56.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$90.31M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$85.86M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-54.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-76.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-15.09M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-15.07M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$70.77M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$75.23M	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`	$209.52M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$200.76M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$39.54M	USD	1 Quarter
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$45.81M	USD	1 Quarter
Cost of service (exclusive of depreciation and amortization)	`CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization`	$14.66M	USD	1 Quarter
Cost of service (exclusive of depreciation and amortization)	`CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization`	$18.02M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$24.17M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$23.88M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.89M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.34M	USD	1 Quarter
Gain on disposal of long-lived assets	`GainLossOnDispositionOfAssets`	-	USD	1 Quarter
Gain on disposal of long-lived assets	`GainLossOnDispositionOfAssets`	$184.00K	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$44.05M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$40.72M	USD	1 Quarter
Income/(loss) from operations	`OperatingIncomeLoss`	$-1.17M	USD	1 Quarter
Income/(loss) from operations	`OperatingIncomeLoss`	$1.76M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$1.74M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$1.49M	USD	1 Quarter
Pre-tax net income/(loss)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$27.00K	USD	1 Quarter
Pre-tax net income/(loss)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.66M	USD	1 Quarter
Income tax expense/(benefit)	`IncomeTaxExpenseBenefit`	$-1.97M	USD	1 Quarter
Income tax expense/(benefit)	`IncomeTaxExpenseBenefit`	$41.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-693.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-14.00K	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	-	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	-	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	55.64M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	56.44M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	56.44M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	55.64M	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-693.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-14.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.89M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.34M	USD	1 Quarter
Equity-based compensation	`ShareBasedCompensation`	$7.32M	USD	1 Quarter
Equity-based compensation	`ShareBasedCompensation`	$4.39M	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`	$259.00K	USD	1 Quarter
Taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-88.00K	USD	1 Quarter
Taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	-	USD	1 Quarter
Prepaid expense and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-930.00K	USD	1 Quarter
Prepaid expense and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-456.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$3.23M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$5.66M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$621.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$85.00K	USD	1 Quarter
Deferred revenue and patient deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$1.53M	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`	$2.75M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$7.08M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$6.22M	USD	1 Quarter
Purchases of property and equipment, net	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.27M	USD	1 Quarter
Purchases of property and equipment, net	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.81M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.81M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.27M	USD	1 Quarter
Payment on term loan	`RepaymentsOfSecuredDebt`	$213.00K	USD	1 Quarter
Payment on term loan	`RepaymentsOfSecuredDebt`	$531.00K	USD	1 Quarter
Distribution to member	`PaymentsOfDistributionsToAffiliates`	$711.00K	USD	1 Quarter
Distribution to member	`PaymentsOfDistributionsToAffiliates`	-	USD	1 Quarter
Dividends paid to shareholders	`PaymentsOfDividends`	-	USD	1 Quarter
Dividends paid to shareholders	`PaymentsOfDividends`	$206.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-924.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-737.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.88M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.67M	USD	1 Quarter
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.62M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$27.23M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$25.35M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$11.28M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.62M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$27.23M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$25.35M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$11.28M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$1.74M	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$1.28M	USD	1 Quarter
Property and equipment included in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$411.00K	USD	1 Quarter
Property and equipment included in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$358.00K	USD	1 Quarter

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$70.77M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$75.23M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$83.53M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$89.87M	USD	Point-in-time
Distributions	`AdjustmentsToAdditionalPaidInCapitalDecreaseFromDistributionsToParent`	$282.00K	USD	1 Quarter
Issuance of common stock through unit vesting	`StockIssuedDuringPeriodValueIssuedForServices`	-	USD	1 Quarter
Dividends	`AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings`	$-66.00K	USD	1 Quarter
Equity-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$4.39M	USD	1 Quarter
Equity-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$7.32M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-693.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-14.00K	USD	1 Quarter
Other comprehensive income	`AdjustmentsToAdditionalPaidInCapitalOther`	$22.00K	USD	1 Quarter
Ending balance	`StockholdersEquity`	$70.77M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$75.23M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$83.53M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$89.87M	USD	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-693.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-14.00K	USD	1 Quarter
Change in foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	-	USD	1 Quarter
Change in foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$22.00K	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	-	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$22.00K	USD	1 Quarter
Comprehensive income/(loss)	`ComprehensiveIncomeNetOfTax`	$-693.00K	USD	1 Quarter
Comprehensive income/(loss)	`ComprehensiveIncomeNetOfTax`	$8.00K	USD	1 Quarter

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