AIRS | Market Cap: $296.3M (07/13/26)
Industry:
Healthcare Providers & Services

DESCRIPTION

AirSculpt operates a network of 31 body contouring centers across 20 U.S. states and Canada. The company's core offering is the proprietary AirSculpt® method — a patented form of tumescent liposuction that removes fat and tightens skin while the patient remains awake, with no general anesthesia. The procedure uses a motorized cannula in a corkscrew motion, which AirSculpt argues produces more precise results with less trauma than traditional liposuction. Beyond fat removal, AirSculpt offers fat transfer procedures including a Brazilian butt lift, breast augmentation, and hip contouring, as well as skin tightening and cellulite reduction. AirSculpt generates revenue entirely from elective, cash-pay procedures — no insurance or government reimbursement — which eliminates collections risk. The average procedure runs around $12,800, and roughly half of patients finance through third-party providers like CareCredit. Revenue is driven by procedure volume and average revenue per case, with case volume in turn driven by digital marketing (primarily paid search and social media) and the sales team's ability to convert consultations into booked procedures. The cost structure has meaningful fixed components, creating operating leverage in both directions. AirSculpt targets affluent consumers in upscale metropolitan markets and positions its centers with a spa-like aesthetic. Near-term, AirSculpt is focused on same-store recovery and sees GLP-1 weight loss drug users — who often develop loose skin after rapid weight loss — as a growing patient opportunity. Long-term, management believes there are over 200 potential locations across the U.S. and Canada, though new openings are currently paused.

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