🧾 What This Document Is

This is an amended earnings release (an 8-K/A filing). Think of it as a "correction and update" notice.

The company initially reported its Q4 and full-year 2025 financial results on April 2nd, 2026. They then found an error in one of their calculations and are now releasing the corrected, official numbers.

👉 Why it matters: Accuracy is everything in finance. This amendment shows the company is fixing its math to give investors the true picture, specifically around a one-time cost related to closing its London facility.

🏢 What The Company Does

In simple terms, AirSculpt is a medical spa chain focused on premium, minimally invasive body contouring. Think of it as a specialized, high-end alternative to traditional liposuction.

Their signature "AirSculpt" procedure removes fat and tightens skin with promises of quicker healing and precision. They operate across the United States.

👉 Why it matters: They operate in the lucrative aesthetics market, which is constantly evolving with new trends (like the GLP-1 weight-loss drugs mentioned by the CEO).

💰 Financial Highlights: The Key Numbers

Here’s what the corrected results show. All comparisons are to the same period in the prior year (2024).

Fourth Quarter 2025:

• Cases Performed: 2,604 (↓ 15.0%)
• Revenue: $33.4 million (↓ 14.6%)
• Net Loss: $1.3 million (an improvement from a $5.0 million loss)
• Adjusted EBITDA: -$0.1 million (down from +$1.9 million)

Full Year 2025:

• Cases Performed: 11,852 (↓ 15.6%)
• Revenue: $151.8 million (↓ 15.8%)
• Net Loss: $11.7 million (worsened from an $8.0 million loss)
• Adjusted EBITDA: $12.5 million (down significantly from $21.0 million)

👉 Key takeaway: 2025 was a tough year. Revenue and patient volume dropped by about 16%, and profitability shrank. However, the quarterly net loss got smaller as the year progressed.

🚀 Key Moves & Strategic Shifts

The CEO, Yogi Jashnani, highlighted that 2025 was a year of internal overhaul. The major actions taken include:

• Hiring new talent and improving the team.
• Revamping business processes and their go-to-market strategy.
• Adding new procedures to expand what they can offer clients.

The company points to early positive results from these changes, noting that same-store sales turned positive in February 2026.

🔮 What's Next: 2026 Outlook

Management is guiding for a year of stabilization and modest growth in 2026.

• Full-Year 2026 Revenue: $151 - $157 million.
• Full-Year 2026 Adjusted EBITDA: $15 - $17 million.
• Q1 2026 Revenue: $38.5 - $39.5 million.

👉 Why it matters: This guidance suggests they expect revenue to be roughly flat compared to 2025's $151.8 million, but they project profitability (Adjusted EBITDA) will improve by about 20-36% from the $12.5 million they just reported.

⚖️ Big Picture: Strengths & Risks

👍 Strengths (What’s Working):

• Established Brand: They describe themselves as "scaled" and "trusted" in their niche.
• Strategic Positioning: They see opportunity at the intersection of aesthetics and the GLP-1 drug trend, suggesting a potential new customer pipeline.
• Operational Turnaround: They claim their internal fixes are already showing positive early signs in 2026.

⚠️ Risks (What to Watch):

• Demand Decline: The core issue in 2025 was a significant drop in customers. Reversing this trend is critical.
• Profitability Pressure: The company swung to a larger full-year net loss.
• Execution Risk: The success of their new strategy and procedures is not guaranteed.

🧠 The Analogy

Imagine a popular restaurant that saw a steady drop in customers last year. Instead of just discounting prices, the owner did a deep remodel: they hired a new chef, streamlined the kitchen, updated the menu, and revamped the marketing. The 2025 financials (this report) show the empty tables and the cost of all that change. The 2026 outlook is the owner saying, "The remodel is done, regulars are starting to come back, and we expect to be more profitable this year even if the dining room isn't packed."

🧩 Final Takeaway

Airsculpt had a difficult 2025 with falling sales and losses, but it spent the year restructuring its operations. The company is now projecting a stable 2026 with improved profitability, betting that its new strategy will win back customers and efficiency gains will boost its bottom line.