AirSculpt Technologies, Inc. (NASDAQ:AIRS) Q1 2024 Earnings Conference Call May 10, 2024 8:30 AM ET

Company Participants

Dennis Dean - Chief Financial Officer
Todd Magazine - Chief Executive Officer

Conference Call Participants

Josh Raskin - Devin Research
Korinne Wolfmeyer - Piper Sandler
John Ransom - Raymond James

Operator

Hello, and welcome to the AirSculpt Technologies, Inc. First Quarter 2024 Earnings Call. [Operator Instructions] A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

It's now my pleasure to turn the call over to Dennis Dean, Chief Financial Officer. Please go ahead.

Dennis Dean

Good morning, everyone, and thanks for joining us to discuss AirSculpt Technologies results for the first quarter. Joining me on the call today is the company's Founder and Executive Chairman, Dr. Aaron Rollins; and Chief Executive Officer, Todd Magazine.

Before we begin, I would like to remind you that this conference call may include forward-looking statements. These statements may include our future expectations regarding financial results and guidance, market opportunities and our growth. Risks and uncertainties that may impact these statements and could cause actual future results to differ materially from currently projected results are described in this morning's press release, and the reports we will file with the SEC, all of which can be found on our website at investors.elitebodysculpture.com. We undertake no obligation to revise or update any forward-looking statements or information except as required by law.

During our call today, we will also reference certain non-GAAP financial measures. We use non-GAAP measures in some of our financial discussions as we believe they more accurately represent the true operational performance and underlying results of our business. A reconciliation of these measures can be found in our earnings release as filed this morning and in our most recent 10-Q, which will also be available on our website.

With that, I'll turn the call over to Todd.

Todd Magazine

Thanks, Dennis. Good morning, everyone, and thank you for joining the call. We delivered approximately 4% revenue growth in the quarter versus the prior year. which was driven primarily by contributions from the de novo centers opened in 2023. These centers continue to outperform our internal metrics.

However, we did experience some softness in our same-store centers. which was related to temporary macroeconomic headwinds, which affected a portion of our customer base that tends to be more price sensitive. The challenges we are experiencing are consistent with those highlighted by others in the aesthetic and high-end consumer retail spaces.