0001870940-24-000005 | 10-K | XBRL Viewer | Airsculpt Technologies INC

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Label	Element	Value
Retained Earnings [Member]
Net Income (Loss)	us-gaap_NetIncomeLoss	$ (393,000)
Member Units [Member]
Net Income (Loss)	us-gaap_NetIncomeLoss	$ 10,944,000

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

GOODWILL AND INTANGIBLES, NET

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLES, NET

NOTE 2 – GOODWILL AND INTANGIBLES, NET

On October 2, 2018, EBS Intermediate acquired a controlling interest in EBS Enterprises, LLC in exchange for total consideration of $151.0 million. The fair value of the net identifiable assets at transaction date was $69.3 million, comprised primarily of $17.7 million in intangible assets related to the AirSculpt and Elite trademarks and tradenames and $53.6 million in intangible assets related to the AirSculpt technology and know-how. The resulting excess consideration over fair value of identifiable net assets was recorded to goodwill in the amount of $81.7 million.

The annual review of goodwill impairment was performed in October 2023 using a qualitative analysis and the Company determined that a quantitative analysis was not required. There were no triggering events during the years ended December 31, 2023, 2022 and 2021.

The Company had goodwill of $81.7 million at December 31, 2023 and December 31, 2022.

Intangible assets consisted of the following at December 31, 2023 and December 31, 2022 (in 000’s):


	December 31, 2023		December 31, 2022		Useful Life
Technology and know-how	$	53,600	$	53,600	15 years
Trademarks and tradenames	17,700		17,700		15 years
	71,300		71,300
Accumulated amortization of technology and know-how	(18,759)		(15,186)
Accumulated amortization of tradenames and trademarks	(6,195)		(5,015)
Total intangible assets	$	46,346	$	51,099

Aggregate amortization expense on intangible assets was approximately $4.8 million for each of the years ended December 31, 2023, 2022, and 2021.

The estimated aggregate amortization expense on intangible assets for each of the next five years and thereafter is estimated to be as follows (in 000’s):


Year ending December 31,
2024	$	4,753
2025	4,753
2026	4,753
2027	4,753
2028	4,753
Thereafter	22,581
Total	$	46,346

INCOME TAXES - Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Effective Income Tax Rate Reconciliation, Percent [Abstract]
At U.S. Federal statutory tax rate	21.00%	21.00%	21.00%
State income taxes	55.70%	(7.30%)	0.60%
Pass-through income	0.00%	0.00%	(22.00%)
Nondeductible Reorganization and IPO costs	0.00%	0.00%	0.60%
Nondeductible officer compensation	159.10%	(38.80%)	0.00%
Valuation allowance and other nondeductible expenses	13.60%	(4.80%)	2.80%
Total	249.40%	(29.90%)	3.00%

SEGMENT INFORMATION (Details)	12 Months Ended
SEGMENT INFORMATION (Details)	Dec. 31, 2023 reportable_segment
Segment Reporting [Abstract]
Number of reportable segments	1

LEASES (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Weighted-Average Lease Terms, Discount Rates and Supplemental Cash Flow Information

The following table presents the weighted-average lease terms and discount rates at December 31, 2023, 2022, and 2021:

December 31,
2023

December 31,
2022

December 31,
2021

Weighted-average remaining lease term

4.7 years

4.5 years

4.9 years

Weight average discount rate

6.4%

5.1%

4.6%

The following table presents supplemental cash flow information for the twelve months ended December 31, 2023 and 2022 (in 000’s):


	December 31, 2023		December 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$	5,240	$	5,068
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	9,934	$	10,913

Future Minimum Rental Payments under all Non-Cancellable Operating Leases

Future minimum rental payments under all non-cancellable operating lease agreements for the succeeding five years are as follows, excluding common area maintenance charges that may be required by the agreements (in 000’s):


Year ending December 31,

2024	$	6,329
2025	6,506
2026	6,228
2027	5,631
2028	4,733
Thereafter	8,901
Total lease payments	38,328
Less: imputed interest	(10,283)
Total lease obligations	$	28,045

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2023
Audit Information [Abstract]
Auditor Firm ID	248
Auditor Name	GRANT THORNTON LLP
Auditor Location	Miami, Florida

LEASES - Future Minimum Rental Payments under all Non-Cancellable Operating Leases (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Leases [Abstract]
2024	$ 6,329
2025	6,506
2026	6,228
2027	5,631
2028	4,733
Thereafter	8,901
Total lease payments	38,328
Less: imputed interest	(10,283)
Total lease obligations	$ 28,045

DEBT - Future Maturities of Long-term Debt, Net (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Debt Disclosure [Abstract]
2024	$ 2,125
2025	4,250
2026	6,375
2027	60,125
Total maturities	$ 72,875

INCOME TAXES -Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets
Accrued liabilities	$ 422	$ 272
Net operating loss	827	559
Operating lease liability	6,497	5,449
Equity-based compensation	1,596	1,231
State bonus depreciation	425	558
163(j) limitation	277	912
Other	30	7
Total deferred tax assets	10,074	8,988
Valuation allowance	(541)	(559)
Total deferred tax assets, net of valuation allowance	9,533	8,429
Deferred tax liabilities
Property, plant and equipment	(5,566)	(4,998)
Intangible assets	(3,881)	(2,993)
Right-of-use asset	(6,014)	(5,427)
Prepaid expenses and other current assets	(900)	(495)
Total deferred tax liabilities	(16,361)	(13,913)
Net deferred tax liabilities	$ (6,828)	$ (5,484)

Consolidated Statements of Changes in Member's/Stockholders' Equity - USD ($) $ in Thousands	Total	Member’s Equity	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income	Accumulated Deficit
Beginning balance at Dec. 31, 2020	$ 123,676	$ 123,676
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Distributions	(67,283)	(67,283)
Equity-based compensation	2,460	2,460
Reorganization transaction	0	$ (69,797)	$ 54	$ 69,743
Reorganization transaction (in shares)			53,466,241
Recognition of deferred tax liability in connection with Reorganization	(4,143)			(4,143)
Issuance of common stock in connection with the IPO, net of issuance costs (in shares)			2,173,913
Issuance of common stock in connection with the IPO, net of issuance costs of $10,372	13,542		$ 2	13,540
Equity-based compensation	4,725			4,725
Net (loss)/income	10,551
Ending balance (in shares) at Dec. 31, 2021			55,640,154
Ending balance at Dec. 31, 2021	83,528		$ 56	83,865	$ 0	$ (393)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock through unit vesting (in shares)			541,535
Issuance of common stock through unit vesting	0
Distributions	(732)			(732)
Dividends	(24,701)			(24,701)
Equity-based compensation	29,457			29,457
Payment of taxes withheld through vested equity-based compensation	(2,031)			(2,031)
Net (loss)/income	(14,679)					(14,679)
Other comprehensive income	(76)				(76)
Ending balance (in shares) at Dec. 31, 2022			56,181,689
Ending balance at Dec. 31, 2022	70,766		$ 56	85,858	(76)	(15,072)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock through unit vesting (in shares)			1,173,987
Issuance of common stock through unit vesting	1		$ 1
Distributions	(79)			(79)
Dividends	129			129
Equity-based compensation	18,224			18,224
Payment of taxes withheld through vested equity-based compensation	(234)			(234)
Net (loss)/income	(4,479)					(4,479)
Other comprehensive income	(336)				(336)
Ending balance (in shares) at Dec. 31, 2023			57,355,676
Ending balance at Dec. 31, 2023	$ 83,992		$ 57	$ 103,898	$ (412)	$ (19,551)

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Tax Credit Carryforward [Line Items]
Effective tax rate	249.40%	(29.90%)	3.00%
Tax benefit of pre-tax book income , prior to reorganization and IPO			$ (2,400)
Valuation allowance	$ 541	$ 559
Foreign Tax Authority
Tax Credit Carryforward [Line Items]
Net operating loss carryforwards	4,000	2,100
Foreign Tax Authority \| CANADA
Tax Credit Carryforward [Line Items]
Net operating loss carryforwards	1,400	1,700
Foreign Tax Authority \| UNITED KINGDOM
Tax Credit Carryforward [Line Items]
Net operating loss carryforwards	$ 2,600	$ 400

EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Reconciliation of Numerator and Denominator Used in Calculation of Basic and Diluted Net Loss per Share

A reconciliation of the numerator and denominator used in the calculation of basic and diluted net loss per share of common stock is as follows (in 000’s except for shares and per share figures):


	Fiscal Year Ended December 31,
	2023		2022		2021
Numerator:
Net (loss)/income	$	(4,479)	$	(14,679)	$	10,551
Less: Net income attributable to EBS Intermediate Parent, LLC prior to Reorganization	—		—		10,944
Net loss attributable to AirSculpt Technologies, Inc.	(4,479)		(14,679)		(393)
Denominator:
Weighted average shares of common stock outstanding - basic(1)	56,778,793		55,684,701		55,640,154
Add: Effect of dilutive securities(1)	—		—		—
Weighted average shares of common stock outstanding - diluted(1)	56,778,793		55,684,701		55,640,154
Loss per share of common stock outstanding - basic and diluted	$	(0.08)	$	(0.26)	$	(0.01)

(1) Basic and diluted weighted average shares outstanding and loss per share for 2021 represent only the period from October 28, 2021 to December 31, 2021

Antidilutive Securities Excluded from Computation of Earnings Per Share

The following number of potentially dilutive shares were excluded from the calculation of diluted loss per share because the effect of including such potentially dilutive shares would have been antidilutive.


	Fiscal Year Ended December 31,
	2023	2022	2021
Restricted stock units	1,047,501	1,367,558	2,364,703
Performance and market-based stock units	1,625,882	2,159,076	2,309,063

Consolidated Statement of Changes in Member's/Stockholders' Equity (Parenthetical) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
Statement of Stockholders' Equity [Abstract]
Issuance costs	$ 10,372

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized (in shares)	450,000,000	450,000,000
Common stock, issued (in shares)	57,355,676	56,181,689
Common stock, outstanding (in shares)	57,355,676	56,181,689

ORGANIZATION AND SUMMARY OF KEY ACCOUNTING POLICIES (Details)		12 Months Ended
	Oct. 28, 2021 $ / shares shares	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($)	Oct. 27, 2021
Subsidiary, Sale of Stock [Line Items]
Number of shares outstanding (in shares) \| shares	55,640,154	57,355,676	56,181,689
Business reorganization, ownership interest					1
Revenue		$ 195,917,000	$ 168,794,000	$ 133,315,000
Amortization of deferred financing		207,000	921,000	639,000
Capitalized hosting arrangement costs		$ 1,700,000
Finite-lived intangible assets, useful life		15 years
Impairment charges		$ 0	0
Advertising expenses		25,900,000	20,600,000	$ 14,800,000
Uncertain tax positions		$ 0	$ 0
Effective tax rate		249.40%	(29.90%)	3.00%
Non-US
Subsidiary, Sale of Stock [Line Items]
Revenue		$ 5,200,000	$ 300,000	$ 0
Initial Public Offering
Subsidiary, Sale of Stock [Line Items]
Number of shares sold in initial stock offering (in shares) \| shares	8,050,000
Initial stock offering price (in dollars per share) \| $ / shares	$ 11.00

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities
Net (loss)/income	$ (4,479)	$ (14,679)	$ 10,551
Adjustments to reconcile net (loss)/income to net cash provided by operating activities:
Depreciation and amortization	10,253	8,061	6,597
Equity-based compensation	18,224	29,457	7,185
Non-cash interest expense; amortization of debt costs	207	921	639
Loss on debt modification	0	932	682
Deferred income taxes	1,342	1,134	208
(Gain)/loss on disposal of long-lived assets	(212)	147	0
Changes in assets and liabilities
Taxes receivable	890	(2,831)	0
Prepaid expense and other current assets	466	(5)	(3,845)
Other assets	(3,814)	(7,274)	(1,305)
Accounts payable	(206)	865	1,576
Deferred revenue and patient deposits	(896)	(452)	(423)
Accrued and other liabilities	2,181	8,171	4,768
Net cash provided by operating activities	23,956	24,447	26,633
Cash flows from investing activities
Purchases of property and equipment, net	(9,919)	(12,921)	(7,116)
Net cash used in investing activities	(9,919)	(12,921)	(7,116)
Cash flows from financing activities
Payment on term loan	(12,125)	(84,263)	(838)
Borrowings on term loan, net	0	83,503	49,603
Proceeds from IPO	0	0	13,542
Distribution to member	(79)	(1,159)	(66,856)
Dividends paid to shareholders	(385)	(23,160)	0
Payment of taxes withheld through vested equity-based compensation	(233)	(2,031)	0
Other financing activity	(569)	(147)	0
Net cash used in financing activities	(13,391)	(27,257)	(4,549)
Net decrease in cash and cash equivalents	646	(15,731)	14,968
Cash and cash equivalents
Beginning of period	9,616	25,347	10,379
End of period	10,262	9,616	25,347
Supplemental disclosure of cash flow information:
Cash paid for interest	6,277	5,830	4,255
Cash paid for taxes	4,663	4,932	0
Supplemental disclosure of non-cash investing information:
Property and equipment included in accounts payable and accrued expenses	283	1,113	255
Distributions to member included in accrued expenses	$ 0	$ 0	$ 427

STOCKHOLDERS' EQUITY AND EQUITY-BASED COMPENSATION

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

STOCKHOLDERS' EQUITY AND EQUITY-BASED COMPENSATION

NOTE 6 – STOCKHOLDERS' EQUITY AND EQUITY-BASED COMPENSATION

Subsequent to the IPO and Reorganization, AirSculpt established the 2021 Equity Incentive Plan. The Company may issue a maximum of 5,564,015 shares under the 2021 Equity Incentive Plan. This amount will automatically increase on January 1 of each year for a period of ten years starting on January 1, 2023, in an amount equal to the lesser of (i) four percent of the total Common Stock outstanding on December 31 of the preceding year and (ii) such smaller number of shares as determined by the Company’s Board. Under the 2021 Equity Incentive Plan, 3,950,450 stock units were awarded to AirSculpt’s executive officers and directors and 728,880 stock units were awarded to employees on November 4, 2021 and November 10, 2021, respectively. These stock units were granted in the form of RSUs and PSUs.

During the twelve months ended December 31, 2023 and 2022, the Company granted 767,261 and 216,421 RSUs, respectively, to certain officers, employees and non-employee directors in accordance with the 2021 Plan. Vesting and payment of these RSUs are generally subject to continuing service of the employee or non-employee director over the ratable vesting periods beginning one year from the date of grant to one or three years after the date of grant. The fair values of these RSUs were determined based on the closing price of the Company’s common stock on the trading date immediately prior to the grant date. These RSUs are not considered outstanding until vested.

During the twelve months ended December 31, 2023 and 2022, the Company granted 50,000 and 38,775 PSUs, respectively, subject to the achievement of a combination of performance conditions. In addition to the achievement of the performance conditions, these PSUs are generally subject to the continuing service of the employee over the ratable vesting period from the earned date continuing through the settlement of the shares. For these PSUs, the shares settle in the first quarter of the year following the year in which the vesting criteria is met. The performance criteria is based on the Company’s actual performance condition results as compared to the targets. These PSUs are not considered outstanding until settled.

During the twelve months ended December 31, 2021, the Company granted 973,703 PSUs subject to the achievement of certain market-based conditions. The vesting is based on achievement of a specified 60-day volume weighted average share price (“VWAP”) in relation to a specified base price in the award agreement. These awards are structured with one-third vesting at 120% VWAP, one-third vesting at 145% VWAP and the final one-third vesting at 175% VWAP.

During the twelve months ended December 31, 2023 and 2022, the Company granted 624,846 and 103,936 PSUs, respectively, subject to the achievement of market-based conditions ("market-based PSUs"). The vesting is based on achievement of a total shareholder return relative to a specified peer group (“rTSR”). Based on the rTSR, the awards can settle in shares in a range from 0% to 200%.

Determining the fair value of the market-based PSU awards requires judgment. The Company uses a Monte Carlo simulation model to estimate the fair value of the market-based PSU awards. The assumptions used in this pricing model requires the input of subjective assumptions and are as follows:

•Expected volatility—Expected volatility is based on historical volatilities of a publicly traded peer group based on daily price observations over a period equivalent to the expected term of the market-based PSU awards.

•Expected term—The term is estimated in consideration of the time period expected to achieve the performance.

•Risk-free interest rate—The risk-free interest rate is based on the U.S. Treasury yield of treasury bonds with a maturity that approximates the expected term of the market-based PSU awards.

•Expected dividend yield—The dividend yield is based on the current expectations of dividend payouts. The Company does not anticipate paying any cash dividends in the foreseeable future.

The following table sets forth the assumptions that were used to calculate the fair value of the market-based PSU awards granted during the twelve months ended December 31, 2023, 2022 and 2021.


	2023		2022		2021
Expected volatility	89.9	%	82.4	%	66.0	%
Expected term	2.83		2.85		3.17
Risk-free interest rate	3.83	%	1.72	%	0.84	%
Expected dividend yield	0	%	0	%	0	%

The fair values of the PSUs not subject to a market conditions were determined based on the closing price of the Company’s common stock on the trading date immediately prior to the grant date.

Restricted and Performance Equity-Based Activity

A summary of the Company’s RSU and PSU activity for the twelve months ended December 31, 2023 and 2022 follows:


	Unvested Units	Weighted Average Grant Date Fair Value of Units
Outstanding at December 31, 2020	—	$	—
Granted	4,679,330	14.27
Forfeitures	(5,564)	14.71
Outstanding at December 31, 2021	4,673,766	14.27
Granted	359,132	15.10
Forfeitures	(503,693)	14.13
Vestings	(1,002,571)	14.76
Outstanding at December 31, 2022	3,526,634	14.23
Granted	1,442,107	6.60
Forfeitures	(30,605)	10.83
Vestings	(1,025,234)	13.93
Outstanding at December 31, 2023	3,912,902	$	11.50

Other information pertaining to equity-based compensation

On December 30, 2022, Ronald Zelhof, the Chief Operating Officer, entered into a Separation and General Release Agreement (“Separation Agreement”) with the Company. In connection with confirming that certain restrictive covenants remain in effect, Mr. Zelhof was entitled to remain eligible to earn PSUs through March 31, 2024 and a partial accelerated vesting for 176,388 RSUs. In connection with the Separation Agreement, the Company recognized an additional $2.1 million in stock compensation during the twelve months ended December 31, 2022.

The Company recorded equity-based compensation expense of $18.2 million, $29.5 million, and $7.2 million for the twelve months ended December 31, 2023, 2022, and 2021, respectively, in selling, general and administrative expenses on the consolidated statements of operations. Forfeitures are recognized as incurred. During the twelve months ended December 31, 2023, the Company had actual vestings with fair market value of $12.9 million and $0.8 million related to employees and directors, respectively.

Unrecognized compensation cost related to unvested time-based shares was approximately $10.4 million as of December 31, 2023. Unrecognized compensation cost will be expensed annually based on the number of shares that vest during the year. As of December 31, 2023, the weighted average remaining vesting term on the unvested time-based shares was 0.95 years. Further, the Company has unrecognized compensation cost of $10.6 million related to the PSUs as of December 31, 2023, which will be recognized on a graded vesting basis over the requisite service period when it is probable the performance condition will be achieved. As of December 31, 2023, the weighted average remaining vesting term on the unvested PSUs was 1.55 years.

On August 10, 2022, the board of directors of the Company approved a $0.41 per share special cash dividend. The dividend was paid on September 14, 2022, to shareholders of record at the close of business on August 26, 2022. Cash dividends paid totaled $0.4 million for the twelve months ended December 31, 2023. The Company's unvested stock units participate in dividends and as such, the Company had $1.0 million in dividends payable as of December 31, 2023, of which $0.3 million is current.

The Company recognized distributions to EBS Parent, LLC (the "Parent") of approximately $0.1 million, $1.2 million, and $66.9 million for the twelve months ended December 31, 2023, 2022, and 2021, respectively.

GOODWILL AND INTANGIBLES, NET - Narrative (Details) - USD ($) $ in Thousands		12 Months Ended
	Oct. 02, 2018	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill		$ 81,734	$ 81,734
Amortization of intangible assets		$ 4,800	$ 4,800	$ 4,800
EBS Enterprises, LLC \| EBS Intermediate Parent LLC
Business Acquisition [Line Items]
Consideration transferred	$ 151,000
Fair value of the net identifiable assets	69,300
Goodwill	81,700
EBS Enterprises, LLC \| EBS Intermediate Parent LLC \| Technology and know-how
Business Acquisition [Line Items]
Finite-lived intangibles	53,600
EBS Enterprises, LLC \| EBS Intermediate Parent LLC \| Trademarks and tradenames
Business Acquisition [Line Items]
Finite-lived intangibles	$ 17,700

DEBT - Long-term Debt, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Term loan	$ 72,875
Unamortized debt discounts and issuance costs	(1,247)	$ (1,455)
Total debt, net	71,628	83,545
Less: Current portion	(2,125)	(2,125)
Long-term debt, net	69,503	81,420
Secured Debt
Debt Instrument [Line Items]
Term loan	$ 72,875	$ 85,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
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+ Details

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 9 – COMMITMENTS AND CONTINGENCIES Professional Liability In the ordinary course of business, the Company becomes involved in pending and threatened legal actions and proceedings, most of which involve claims of medical malpractice related to medical services provided by the PAs employed and affiliated physicians. The Company may also become subject to other lawsuits which could involve large claims and significant costs. The Company believes, based upon a review of pending actions and proceedings, that the outcome of such legal actions and proceedings will not have a material adverse effect on its business, financial condition, results of operations, and cash flows. The outcome of such actions and proceedings, however, cannot be predicted with certainty and an unfavorable resolution of one or more of them could have a material adverse effect on the Company’s business, financial condition, results of operations, and cash flows. Although the Company currently maintains liability insurance coverage intended to cover professional liability and certain other claims, the Company cannot assure that its insurance coverage will be adequate to cover liabilities arising out of claims asserted against it in the future where the outcomes of such claims are unfavorable. Liabilities in excess of the Company’s insurance coverage, including coverage for professional liability and certain other claims, could have a material adverse effect on the Company’s business, financial condition, results of operations, and cash flows.

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Components of Income Tax Expense (Benefit)

Significant components of income tax expense were as follows (in 000’s):


	Fiscal Year Ended December 31,
	2023		2022		2021
Current
U.S. Federal	$	4,565	$	1,235	$	—
State and Local	1,570		1,014		121
Total current income tax expense	6,135		2,249		121
Deferred
U.S. Federal	1,192		1,109		243
State and Local	431		25		(35)
Foreign	(281)		—		—
Total deferred income tax (benefit) expense	1,342		1,134		208
Total	$	7,477	$	3,383	$	329

Effective Income Tax Rate Reconciliation

A reconciliation of income taxes computed at the U.S. federal statutory income tax rate of 21% to the Company’s income tax (expense) was as follows:


	Fiscal Year Ended December 31,
	2023		2022		2021
At U.S. Federal statutory tax rate	21.0	%	21.0	%	21.0	%
State income taxes	55.7	%	(7.3)	%	0.6	%
Pass-through income	—	%	—	%	(22.0)	%
Nondeductible Reorganization and IPO costs	—	%	—	%	0.6	%
Nondeductible officer compensation	159.1	%	(38.8)	%	—	%
Valuation allowance and other nondeductible expenses	13.6	%	(4.8)	%	2.8	%
Total	249.4	%	(29.9)	%	3.0	%

Deferred Tax Assets and Liabilities

The Company’s deferred tax assets (liabilities) consisted of the following (in 000’s):


	December 31,
	2023		2022
Deferred tax assets
Accrued liabilities	$	422	$	272
Net operating loss	827		559
Operating lease liability	6,497		5,449
Equity-based compensation	1,596		1,231
State bonus depreciation	425		558
163(j) limitation	277		912
Other	30		7
Total deferred tax assets	10,074		8,988
Valuation allowance	(541)		(559)
Total deferred tax assets, net of valuation allowance	9,533		8,429
Deferred tax liabilities
Property, plant and equipment	(5,566)		(4,998)
Intangible assets	(3,881)		(2,993)
Right-of-use asset	(6,014)		(5,427)
Prepaid expenses and other current assets	(900)		(495)
Total deferred tax liabilities	(16,361)		(13,913)
Net deferred tax liabilities	$	(6,828)	$	(5,484)

DEBT (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Long-term Debt, Net

Total borrowings as of December 31, 2023 and December 31, 2022 were as follows (in 000’s):


	December 31, 2023		December 31, 2022
Term loan	$	72,875	$	85,000
Unamortized debt discounts and issuance costs	(1,247)		(1,455)
Total debt, net	71,628		83,545
Less: Current portion	(2,125)		(2,125)
Long-term debt, net	$	69,503	$	81,420

Future Maturities of Long-term Debt, Net

The scheduled future maturities of long-term debt as of December 31, 2023 is as follows (in 000’s):


Year ending December 31,
2024	$	2,125
2025	4,250
2026	6,375
2027	60,125

Total maturities	$	72,875

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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-Publisher FASB
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Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
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-Publisher FASB
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-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-7

+ Details

EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

EARNINGS PER SHARE

NOTE 7 – EARNINGS PER SHARE

Basic earnings per share of common stock is computed by dividing net income/loss attributable to AirSculpt Technologies, Inc. for the twelve months ended December 31, 2023 and 2022 by the weighted-average number of shares of common

stock outstanding during the same period. Diluted earnings per share of common stock is computed by dividing net income/loss attributable to AirSculpt Technologies, Inc. for the twelve months ended December 31, 2023 and 2022 by the weighted-average number of shares of common stock adjusted to give effect to potentially dilutive securities. Where the inclusion of potentially dilutive shares would be antidilutive, diluted loss per share equals basic loss per share.

Prior to the IPO, the EBS Intermediate Parent, LLC structure included only LLC common units issued and outstanding to pre-IPO LLC members. The Company analyzed the calculation of earnings per unit for periods prior to the IPO and determined that it resulted in values that would not be meaningful to the users of these consolidated financial statements. Therefore, earnings per share information has not been presented for periods prior to the IPO on October 28, 2021. Thus, the basic and diluted earnings (loss) per share represent only the period from October 28, 2021 to December 31, 2021.

A reconciliation of the numerator and denominator used in the calculation of basic and diluted net loss per share of common stock is as follows (in 000’s except for shares and per share figures):


	Fiscal Year Ended December 31,
	2023		2022		2021
Numerator:
Net (loss)/income	$	(4,479)	$	(14,679)	$	10,551
Less: Net income attributable to EBS Intermediate Parent, LLC prior to Reorganization	—		—		10,944
Net loss attributable to AirSculpt Technologies, Inc.	(4,479)		(14,679)		(393)
Denominator:
Weighted average shares of common stock outstanding - basic(1)	56,778,793		55,684,701		55,640,154
Add: Effect of dilutive securities(1)	—		—		—
Weighted average shares of common stock outstanding - diluted(1)	56,778,793		55,684,701		55,640,154
Loss per share of common stock outstanding - basic and diluted	$	(0.08)	$	(0.26)	$	(0.01)

(1) Basic and diluted weighted average shares outstanding and loss per share for 2021 represent only the period from October 28, 2021 to December 31, 2021


	Fiscal Year Ended December 31,
	2023	2022	2021
Restricted stock units	1,047,501	1,367,558	2,364,703
Performance and market-based stock units	1,625,882	2,159,076	2,309,063

EQUITY-BASED COMPENSATION - Narrative (Details) $ / shares in Units, $ in Thousands						12 Months Ended
	Dec. 30, 2022 shares	Aug. 10, 2022 $ / shares	Nov. 10, 2021 shares	Nov. 04, 2021 shares	Oct. 29, 2021 shares	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($) day shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity -based compensation expense						$ 18,200	$ 29,500	$ 7,200
Common stock, dividends, declared (in dollars per share) \| $ / shares		$ 0.41
Dividends paid						385	23,160	0
Dividends payable						1,000
Dividends payable, current						300
Distributions paid to parent						(100)	$ (1,200)	$ (66,900)
Share-based Payment Arrangement, Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of awards vested						12,900
Share-Based Payment Arrangement, Nonemployee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of awards vested						$ 800
Equity Incentive Plan 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized (in shares) \| shares					5,564,015
Shares authorized, annual increase, period					10 years
Shares authorized, annual increase, percentage					4.00%
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted in period \| shares						767,261	216,421
Restricted stock units \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period						1 year
Restricted stock units \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period						3 years
Restricted stock units \| Equity Incentive Plan 2021 \| Share-based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage								33.00%
Restricted stock units \| Equity Incentive Plan 2021 \| Share-based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage								33.00%
Restricted stock units \| Equity Incentive Plan 2021 \| Share-based Payment Arrangement, Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage								33.00%
Market Based Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted in period \| shares						624,846	103,936	973,703
Threshold days for weighted average share price (in days) \| day								60
Market Based Performance Shares \| Share-based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average share price, percentage								120.00%
Market Based Performance Shares \| Share-based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average share price, percentage								145.00%
Market Based Performance Shares \| Share-based Payment Arrangement, Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average share price, percentage								175.00%
Market Based Performance Shares \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
rTSR payout percentage							0.00%
Market Based Performance Shares \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
rTSR payout percentage							200.00%
Restricted Stock Units (RSUs) and Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted in period \| shares						1,442,107	359,132	4,679,330
Restricted Stock Units (RSUs) and Performance Shares \| Share-based Payment Arrangement, Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted in period \| shares			728,880
Restricted Stock Units (RSUs) and Performance Shares \| Separation Agreement
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation, accelerated vesting (in shares) \| shares	176,388
Equity -based compensation expense							$ 2,100
Restricted Stock Units (RSUs) and Performance Shares \| Executive Officers and Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted in period \| shares				3,950,450
Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted in period \| shares						50,000	38,775
Unrecognized compensation cost						$ 10,600
Weighted average remaining vesting term of unvested awards						1 year 6 months 18 days
Time Based Vesting Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost						$ 10,400
Weighted average remaining vesting term of unvested awards						11 months 12 days

Condensed Consolidated Statements of Other Comprehensive (Loss)/Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net (loss)/income	$ (4,479)	$ (14,679)	$ 10,551
Other comprehensive (loss)/income:
Change in foreign currency translation adjustment	(336)	(76)	0
Total other comprehensive (loss)/income	(336)	(76)	0
Comprehensive loss/(income)	$ (4,815)	$ (14,755)	$ 10,551

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Revenue	$ 195,917	$ 168,794	$ 133,315
Operating expenses:
Cost of service (exclusive of depreciation and amortization)	74,012	62,781	44,536
Selling, general and administrative	102,381	101,418	65,732
Loss on debt modification	0	(932)	(682)
Depreciation and amortization	10,253	8,061	6,597
(Gain)/loss on disposal of long-lived assets	(212)	147	0
Total operating expenses	186,434	173,339	117,547
Income/(loss) from operations	9,483	(4,545)	15,768
Interest expense, net	6,485	6,751	4,888
Pre-tax net (loss)/income	2,998	(11,296)	10,880
Income tax expense	7,477	3,383	329
Net (loss)/income	$ (4,479)	$ (14,679)	$ 10,551
Loss per share of common stock
Basic (in dollars per share)	$ (0.08)	$ (0.26)	$ (0.01)
Diluted (in dollars per share)	$ (0.08)	$ (0.26)	$ (0.01)
Weighted average shares outstanding
Basic (in shares)	56,778,793	55,684,701	55,640,154
Diluted (in shares)	56,778,793	55,684,701	55,640,154

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 10,262	$ 9,616
Taxes receivable	1,941	2,831
Prepaid expenses and other current assets	3,758	4,229
Total current assets	15,961	16,676
Property and equipment, net	28,908	24,206
Other long-term assets	5,657	3,280
Right of use operating lease assets	25,413	23,764
Intangible assets, net	46,346	51,099
Goodwill	81,734	81,734
Total assets	204,019	200,759
Current liabilities
Accounts payable	3,922	3,844
Accrued payroll and benefits	4,127	2,991
Current portion of long-term debt	2,125	2,125
Deferred revenue and patient deposits	1,463	2,358
Accrued and other current liabilities	3,303	6,644
Current operating lease liabilities	5,375	4,356
Total current liabilities	20,315	22,318
Long-term debt, net	69,503	81,420
Deferred tax liability, net	6,828	5,485
Long-term operating lease liabilities	22,665	19,745
Other long-term liabilities	716	1,025
Total liabilities	120,027	129,993
Commitments and contingent liabilities (Note 9)
Stockholders' equity
Common stock, $0.001 par value; shares authorized - 450,000,000; shares issued and outstanding - 57,355,676 and 56,181,689, respectively	57	56
Additional paid-in capital	103,898	85,858
Accumulated other comprehensive loss	(412)	(76)
Accumulated deficit	(19,551)	(15,072)
Total stockholders' equity	83,992	70,766
Total liabilities and stockholders' equity	$ 204,019	$ 200,759

DEBT

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

DEBT

NOTE 4 – DEBT

On November 7, 2022, the Company entered into a credit agreement with a syndicate of lenders (the "Credit Agreement") maturing November 7, 2027. Pursuant to the Credit Agreement, there is (i) an $85.0 million aggregate principal amount of term loans and (ii) a revolving loan facility in an aggregate principal amount of up to $5.0 million. The proceeds were used, in part, to pay off the Company’s $83.6 million outstanding principal balance under its previous credit facility. On September 29, 2023, the Company voluntarily pre-paid $10.0 million of the principal using cash on hand.

Under the Credit Agreement, all outstanding loans bear interest based on either a base rate or SOFR plus an applicable per annum margin. The applicable per annum margin is 2.0% or 3.0% for base rate or SOFR, respectively, if the Company's total leverage ratio is equal to or greater than 2.0x. If the Company's total leverage ratio is equal to or greater than 1.0x and less than 2.0x, the applicable per annum margin is 1.5% or 2.5% for base rate or SOFR, respectively. If the Company's total leverage ratio is below 1.0x, the applicable per annum margin is 1.0% or 2.0% for base rate or SOFR, respectively. As of December 31, 2023, the interest rate was 7.85%.

Total borrowings as of December 31, 2023 and December 31, 2022 were as follows (in 000’s):


	December 31, 2023		December 31, 2022
Term loan	$	72,875	$	85,000
Unamortized debt discounts and issuance costs	(1,247)		(1,455)
Total debt, net	71,628		83,545
Less: Current portion	(2,125)		(2,125)
Long-term debt, net	$	69,503	$	81,420

As of December 31, 2023 and December 31, 2022, the Company had $5.0 million available on the revolving credit facility.

The scheduled future maturities of long-term debt as of December 31, 2023 is as follows (in 000’s):


Year ending December 31,
2024	$	2,125
2025	4,250
2026	6,375
2027	60,125

Total maturities	$	72,875

All borrowings under the Credit Agreement are cross collateralized by substantially all assets of the Company and are subject to certain restrictive covenants including quarterly total leverage ratio and fixed charge ratio requirements. The Company is in compliance with all covenants and has no letter of credit outstanding as of December 31, 2023 and December 31, 2022.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
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-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
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-Paragraph 1C
-Subparagraph (c)
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-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1E
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-Publisher FASB
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1I
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

GOODWILL AND INTANGIBLES, NET (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible assets consisted of the following at December 31, 2023 and December 31, 2022 (in 000’s):


	December 31, 2023		December 31, 2022		Useful Life
Technology and know-how	$	53,600	$	53,600	15 years
Trademarks and tradenames	17,700		17,700		15 years
	71,300		71,300
Accumulated amortization of technology and know-how	(18,759)		(15,186)
Accumulated amortization of tradenames and trademarks	(6,195)		(5,015)
Total intangible assets	$	46,346	$	51,099

Intangible Assets, Future Amortization Expense

The estimated aggregate amortization expense on intangible assets for each of the next five years and thereafter is estimated to be as follows (in 000’s):


Year ending December 31,
2024	$	4,753
2025	4,753
2026	4,753
2027	4,753
2028	4,753
Thereafter	22,581
Total	$	46,346

Cover - USD ($) $ in Millions	12 Months Ended
Cover - USD ($) $ in Millions	Dec. 31, 2023	Feb. 26, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-40973
Entity Registrant Name	AirSculpt Technologies, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	87-1471855
Entity Address, Address Line One	1111 Lincoln Road
Entity Address, Address Line Two	Suite 802
Entity Address, City or Town	Miami Beach
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33139
City Area Code	786
Local Phone Number	709-9690
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	AIRS
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 113.4
Entity Common Stock, Shares Outstanding		57,422,246
Documents Incorporated by Reference	Portions of the registrant’s Proxy Statement for the 2024 Annual Meeting of Stockholders, or an amendment to Form 10-K to be filed with the Securities and Exchange Commission not later than 120 days from the end of the registrant’s most recently completed fiscal year, are incorporated by reference into Part III of this Annual Report on Form 10-K
Entity Central Index Key	0001870940
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false

EQUITY-BASED COMPENSATION - Nonvested RSU and PSU Activity (Details) - Restricted Stock Units (RSUs) and Performance Shares - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Unvested Units
Unvested, beginning balance (in shares)	3,526,634	4,673,766	0
Granted (in shares)	1,442,107	359,132	4,679,330
Forfeitures (in shares)	(30,605)	(503,693)	(5,564)
Vestings (in shares)	(1,025,234)	(1,002,571)
Unvested, ending balance (in shares)	3,912,902	3,526,634	4,673,766
Weighted Average Grant Date Fair Value of Units
Outstanding, beginning balance (in dollars per share)	$ 14.23	$ 14.27	$ 0
Granted (in dollars per share)	6.60	15.10	14.27
Forfeitures (in dollars per share)	10.83	14.13	14.71
Vestings (in dollars per share)	13.93	14.76
Outstanding, ending balance (in dollars per share)	$ 11.50	$ 14.23	$ 14.27

GOODWILL AND INTANGIBLES, NET - Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	$ 71,300	$ 71,300
Total	$ 46,346	51,099
Useful Life	15 years
Technology and know-how
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	$ 53,600	53,600
Accumulated amortization	$ (18,759)	(15,186)
Useful Life	15 years
Trademarks and tradenames
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	$ 17,700	17,700
Accumulated amortization	$ (6,195)	$ (5,015)
Useful Life	15 years

LEASES - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$ 5,240	$ 5,068
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$ 9,934	$ 10,913

EARNINGS PER SHARE - Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	1,047,501	1,367,558	2,364,703
Performance and market-based stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	1,625,882	2,159,076	2,309,063

DEBT - Narrative (Details)	Sep. 29, 2023 USD ($)	Nov. 07, 2022 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
Letters of credit outstanding			$ 0	$ 0
2022 Credit Agreement
Debt Instrument [Line Items]
Leverage ratio, triggering event, maximum		2.0
Leverage ratio, triggering event, minimum		1.0
2022 Credit Agreement \| Debt Instrument, Triggering Event, One \| Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate		2.00%
2022 Credit Agreement \| Debt Instrument, Triggering Event, One \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Basis spread on variable rate		3.00%
2022 Credit Agreement \| Debt Instrument, Triggering Event, Two \| Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate		1.50%
2022 Credit Agreement \| Debt Instrument, Triggering Event, Two \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Basis spread on variable rate		2.50%
2022 Credit Agreement \| Debt Instrument, Triggering Event, Three \| Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate		1.00%
2022 Credit Agreement \| Debt Instrument, Triggering Event, Three \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Basis spread on variable rate		200.00%
Secured Debt \| 2018 Credit Agreement
Debt Instrument [Line Items]
Debt face amount		$ 83,600,000
Secured Debt \| 2022 Credit Agreement
Debt Instrument [Line Items]
Debt face amount		85,000,000
Debt, principal paid	$ 10,000,000
Debt instrument, interest rate percentage			7.85%
Line of Credit \| 2018 Credit Agreement \| Revolving Credit Facility
Debt Instrument [Line Items]
Available borrowing capacity			$ 5,000,000	$ 5,000,000
Line of Credit \| 2022 Credit Agreement \| Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 5,000,000

INCOME TAXES - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current
U.S. Federal	$ 4,565	$ 1,235	$ 0
State and Local	1,570	1,014	121
Total current income tax expense	6,135	2,249	121
Deferred
U.S. Federal	1,192	1,109	243
State and Local	431	25	(35)
Foreign	(281)	0	0
Total deferred income tax (benefit) expense	1,342	1,134	208
Total	$ 7,477	$ 3,383	$ 329

INCOME TAXES

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

INCOME TAXES

NOTE 8 – INCOME TAXES

Prior to the Reorganization and IPO, EBS Intermediate was structured as a partnership and therefore, was subject to certain LLC entity-level taxes but generally not subject to U.S. federal and state income taxes. As part of the Reorganization Transactions described in Note 1, the Company created a C Corporation, and is now subject to U.S. federal and state taxes.

Significant components of income tax expense were as follows (in 000’s):


	Fiscal Year Ended December 31,
	2023		2022		2021
Current
U.S. Federal	$	4,565	$	1,235	$	—
State and Local	1,570		1,014		121
Total current income tax expense	6,135		2,249		121
Deferred
U.S. Federal	1,192		1,109		243
State and Local	431		25		(35)
Foreign	(281)		—		—
Total deferred income tax (benefit) expense	1,342		1,134		208
Total	$	7,477	$	3,383	$	329

A reconciliation of income taxes computed at the U.S. federal statutory income tax rate of 21% to the Company’s income tax (expense) was as follows:


	Fiscal Year Ended December 31,
	2023		2022		2021
At U.S. Federal statutory tax rate	21.0	%	21.0	%	21.0	%
State income taxes	55.7	%	(7.3)	%	0.6	%
Pass-through income	—	%	—	%	(22.0)	%
Nondeductible Reorganization and IPO costs	—	%	—	%	0.6	%
Nondeductible officer compensation	159.1	%	(38.8)	%	—	%
Valuation allowance and other nondeductible expenses	13.6	%	(4.8)	%	2.8	%
Total	249.4	%	(29.9)	%	3.0	%

The effective tax rates for the fiscal years ended December 31, 2023, 2022 and 2021 were 249.4%, (29.9)% and 3.0%. The most significant items impacting the effective tax rate during fiscal years 2023, 2022 and 2021 are due to the Reorganization, non-deductible officer compensation expense, and the items below.

Pass-through income

Prior to the Reorganization, EBS Intermediate Parent, LLC was the reporting entity, which is treated as a flow-through entity for federal income tax purposes. The income or losses generated were not taxed at the LLC level. As required by U.S. tax law, income or loss generated by the LLC flows through to various partners of the LLC. The tax impact of the pre-tax book income attributable to EBS Intermediate Parent, LLC prior to the execution of the reorganization and IPO was $(2.4) million for the fiscal year ended December 31, 2021.

The Company’s deferred tax assets (liabilities) consisted of the following (in 000’s):


	December 31,
	2023		2022
Deferred tax assets
Accrued liabilities	$	422	$	272
Net operating loss	827		559
Operating lease liability	6,497		5,449
Equity-based compensation	1,596		1,231
State bonus depreciation	425		558
163(j) limitation	277		912
Other	30		7
Total deferred tax assets	10,074		8,988
Valuation allowance	(541)		(559)
Total deferred tax assets, net of valuation allowance	9,533		8,429
Deferred tax liabilities
Property, plant and equipment	(5,566)		(4,998)
Intangible assets	(3,881)		(2,993)
Right-of-use asset	(6,014)		(5,427)
Prepaid expenses and other current assets	(900)		(495)
Total deferred tax liabilities	(16,361)		(13,913)
Net deferred tax liabilities	$	(6,828)	$	(5,484)

As of December 31, 2023 and 2022, we had foreign net operating loss carryforwards in the amount of $4.0 million and $2.1 million, respectively. Of the total carryforwards, $1.4 million and $1.7 million, respectively, were generated by the Company’s Canadian based subsidiary and $2.6 million and $0.4 million, respectively, were generated by the Company's United Kingdom based subsidiary. The Canadian-based net operating losses begin to expire in 2039 and the United Kingdom based net operating losses carry forward indefinitely.

The Company recognizes deferred tax assets to the extent it believes these assets are more likely than not to be realized. Valuation allowances have been established with regard to the tax benefits of our foreign net operating losses. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies and recent results of operations. After considering all of those factors, management recorded a $0.5 million and $0.6 million valuation allowance for the deferred tax assets related to the foreign net operating losses which are not more likely than not to be realized as of December 31, 2023 and 2022.

Uncertain Tax Positions

ASC 740 prescribes a recognition threshold of more-likely-than not to be sustained upon examination as it relates to the accounting for uncertainty in income tax benefits recognized in an enterprise’s financial statements.

As of December 31, 2023 and 2022, the Company had no uncertain tax positions.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

GOODWILL AND INTANGIBLES, NET - Estimated Future Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2024	$ 4,753
2025	4,753
2026	4,753
2027	4,753
2028	4,753
Thereafter	22,581
Total	$ 46,346	$ 51,099

LEASES

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

LEASES

NOTE 5 – LEASES

The Company’s operating leases are primarily for real estate, including medical office suites and corporate offices. For the twelve months ended December 31, 2023, 2022, and 2021, the Company incurred rent expense of $5.9 million, $4.5 million, and $3.3 million, respectively, related to its medical office suites. The Company’s rent expense related to its medical office suites is classified in cost of services within the Company’s consolidated statements of operations. The Company incurred rent expense of $364,000, $323,000, and $92,000 for the twelve months ended December 31, 2023, 2022, and 2021, respectively, related to the corporate offices which is classified in selling, general and administrative expenses. The Company currently does not have any finance leases.

Real estate lease agreements typically have initial terms of five to ten years and may include one or more options to renew. The useful life of assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. The Company’s lease agreements do not contain any material residual value guarantees, restrictions or covenants.

The following table presents the weighted-average lease terms and discount rates at December 31, 2023, 2022, and 2021:

December 31,
2023

December 31,
2022

December 31,
2021

Weighted-average remaining lease term

4.7 years

4.5 years

4.9 years

Weight average discount rate

6.4%

5.1%

4.6%

The following table presents supplemental cash flow information for the twelve months ended December 31, 2023 and 2022 (in 000’s):


	December 31, 2023		December 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$	5,240	$	5,068
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	9,934	$	10,913


Year ending December 31,

2024	$	6,329
2025	6,506
2026	6,228
2027	5,631
2028	4,733
Thereafter	8,901
Total lease payments	38,328
Less: imputed interest	(10,283)
Total lease obligations	$	28,045

EQUITY-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Valuation Assumptions on Market Based Performance Shares

The following table sets forth the assumptions that were used to calculate the fair value of the market-based PSU awards granted during the twelve months ended December 31, 2023, 2022 and 2021.


	2023		2022		2021
Expected volatility	89.9	%	82.4	%	66.0	%
Expected term	2.83		2.85		3.17
Risk-free interest rate	3.83	%	1.72	%	0.84	%
Expected dividend yield	0	%	0	%	0	%

Nonvested Restricted Stock Units Activity

Restricted and Performance Equity-Based Activity

A summary of the Company’s RSU and PSU activity for the twelve months ended December 31, 2023 and 2022 follows:


	Unvested Units	Weighted Average Grant Date Fair Value of Units
Outstanding at December 31, 2020	—	$	—
Granted	4,679,330	14.27
Forfeitures	(5,564)	14.71
Outstanding at December 31, 2021	4,673,766	14.27
Granted	359,132	15.10
Forfeitures	(503,693)	14.13
Vestings	(1,002,571)	14.76
Outstanding at December 31, 2022	3,526,634	14.23
Granted	1,442,107	6.60
Forfeitures	(30,605)	10.83
Vestings	(1,025,234)	13.93
Outstanding at December 31, 2023	3,912,902	$	11.50

Nonvested Performance-Based Units Activity

Restricted and Performance Equity-Based Activity

A summary of the Company’s RSU and PSU activity for the twelve months ended December 31, 2023 and 2022 follows:


	Unvested Units	Weighted Average Grant Date Fair Value of Units
Outstanding at December 31, 2020	—	$	—
Granted	4,679,330	14.27
Forfeitures	(5,564)	14.71
Outstanding at December 31, 2021	4,673,766	14.27
Granted	359,132	15.10
Forfeitures	(503,693)	14.13
Vestings	(1,002,571)	14.76
Outstanding at December 31, 2022	3,526,634	14.23
Granted	1,442,107	6.60
Forfeitures	(30,605)	10.83
Vestings	(1,025,234)	13.93
Outstanding at December 31, 2023	3,912,902	$	11.50

LEASES - Narrative (Details) $ in Thousands	12 Months Ended
LEASES - Narrative (Details) $ in Thousands	Dec. 31, 2023 USD ($) renewal_option	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Lessee, Lease, Description [Line Items]
Number of lease renewal options (or more) \| renewal_option	1
Minimum
Lessee, Lease, Description [Line Items]
Lease term	5 years
Maximum
Lessee, Lease, Description [Line Items]
Lease term	10 years
Office Building
Lessee, Lease, Description [Line Items]
Rent expense	$ 5,900	$ 4,500	$ 3,300
Corporate Offices
Lessee, Lease, Description [Line Items]
Rent expense	$ 364	$ 323	$ 92

EARNINGS PER SHARE - Reconciliation of Numerator and Denominator Used in Calculation of Basic and Diluted Net Loss per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	2 Months Ended	10 Months Ended	12 Months Ended
	Dec. 31, 2021	Oct. 27, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Numerator:
Net income/(loss), basic			$ (4,479)	$ (14,679)	$ 10,551
Net income/(loss), diluted			(4,479)	(14,679)	10,551
Net (loss)/income	$ (393)	$ 10,944	$ (4,479)	$ (14,679)	$ 10,551
Denominator:
Weighted average shares of common stock outstanding - basic (in shares)			56,778,793	55,684,701	55,640,154
Add: Effect of dilutive securities (in shares)			0	0	0
Weighted average shares of common stock outstanding - diluted (in shares)			56,778,793	55,684,701	55,640,154
Loss per share of common stock outstanding - basic (in dollars per share)			$ (0.08)	$ (0.26)	$ (0.01)
Loss per share of common stock outstanding - diluted (in dollars per share)			$ (0.08)	$ (0.26)	$ (0.01)

LEASES - Weighted-Average Lease Terms and Discount Rates (Details)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Weighted-average remaining lease term	4 years 8 months 12 days	4 years 6 months	4 years 10 months 24 days
Weight average discount rate	6.40%	5.10%	4.60%

PROPERTY AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT, NET

NOTE 3 – PROPERTY AND EQUIPMENT, NET

As of December 31, 2023 and December 31, 2022 property and equipment consists of the following: (in 000’s):


	December 31, 2023		December 31, 2022
Medical equipment	$	11,576	$	8,906
Office and computer equipment	860		551
Furniture and fixtures	4,280		3,457
Leasehold improvements	21,982		14,614
Construction in progress	1,910		2,854
Less: Accumulated depreciation	(11,700)		(6,176)
Property and equipment, net	$	28,908	$	24,206

Depreciation expense was approximately $5.5 million, $3.3 million, and $1.8 million for the years ended December 31, 2023, 2022, and 2021 respectively.

ORGANIZATION AND SUMMARY OF KEY ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles of Consolidation	Principles of Consolidation These consolidated financial statements present the financial position and results of operations of the Company, its wholly-owned domestic and international subsidiaries, and its variable interest in the managed PAs in the United States ("Domestic PAs"), which are under the control of the Company and are considered variable interest entities in which the Company is the primary beneficiary. All intercompany accounts and transactions have been eliminated in consolidation.
Variable Interest Entities	Variable Interest Entities The Company has a variable interest in the Domestic PAs where it has a long-term and unilateral controlling financial interest over their assets and operations. The Company has the ability to direct the activities that most significantly affect the Domestic PAs’ economic performance via the MSAs and related agreements. The Company is a practice management service organization and does not engage in the practice of medicine. These services are provided by licensed professionals at each of the Domestic PAs. Certain key features of the MSAs and related agreements enable the Company to assign the member interests of certain of the Domestic PAs to another member designated by the Company (i.e., “nominee shareholder”) for a nominal value in certain circumstances at the Company’s sole discretion. The MSA does not allow the Company to be involved in, or provide guidance on, the clinical operations of the Domestic PAs. The Company consolidates the Domestic PAs into the financial statements. All of the Company’s revenue is earned from services provided by the Domestic PAs and its wholly-owned foreign subsidiaries in the United Kingdom and Canada. The only assets and liabilities held by the Domestic PAs included in the accompanying consolidated balance sheets are clinical related. The clinical assets and liabilities are not material to the Company as a whole.
Accounting Estimates	Accounting Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Cash	Cash and Concentration of Credit Risk The Company considers all highly liquid investments with original maturities of three months or less when purchased to be cash equivalents. The Company’s revenues are concentrated in the specialty, minimally invasive liposuction market.
Concentration of Credit Risk	The Company maintains cash balances at financial institutions which may at times exceed the amount covered by the Federal Deposit Insurance Corporation. The Company has not experienced any losses in such accounts.
Revenue Recognition	Revenue Recognition Revenue consists primarily of revenue earned for the provision of the Company’s patented AirSculpt® procedures. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account for revenue recognition. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The Company’s performance obligations are delivery of specialty, minimally invasive liposuction services. The Company assists patients, as needed, by providing third-party financing options to pay for procedures. The Company has arrangements with various financing companies to facilitate this option. There is a financing transaction fee based on a set percentage of the amount financed and are not contingent upon any criteria. The Company recognizes revenue based on the expected transaction price which is reduced for financing fees. Revenue for services is recognized when the service is performed. Payment is typically rendered in advance of the service. Customer contracts generally do not include more than one performance obligation. The Company’s policy is to require payment for services in advance. Payments received for services that have yet to be performed as of December 31, 2023 and December 31, 2022 are included in deferred revenue and patient deposits. All of the deferred revenue and patient deposits as of December 31, 2022 were recognized in revenue during the twelve months ended December 31, 2023. For the years ended December 31, 2023, 2022 and 2021, revenue from international locations was $5.2 million, $0.3 million and $— million, respectively.
Cost of Service	Cost of Service Cost of service is comprised of all service and product costs related to the delivery of procedures, including but not limited to compensation to doctors, nurses and clinical staff, supply costs, and facility rent expense.
Deferred Financing Costs, Net	Deferred Financing Costs, Net Loan costs and discounts are capitalized in the period in which they are incurred and amortized on the straight-line basis over the term of the respective financing agreement which approximates the effective interest method. These costs are included as a reduction of long-term debt on the consolidated balance sheets. Total amortization of deferred financing costs was approximately $0.2 million, $0.9 million, and $0.6 million for the twelve months ended December 31, 2023, 2022 and 2021, respectively. Amortization of loan costs and discounts is included as a component of interest expense.
Property and Equipment, Net	Property and Equipment, Net Property and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method of accounting over the assets’ estimated useful lives. Depreciation of leasehold improvements is based on the shorter of the estimated useful life of the improvement or the remaining lease term. As of December 31, 2023, the Company has $1.7m recorded in other long-term assets related to a software as a service hosting arrangement that has not yet been implemented.
Leases	Leases The Company determines if an arrangement is a lease at inception. Right-of-use assets represent the right to use the underlying assets for the lease term and the lease liabilities represent the obligation to make lease payments arising from the leases. Right-of-use assets and liabilities are recognized at commencement date based on the present value of future lease payments over the lease term, which includes only payments that are fixed or determinable at the time of commencement. When readily determinable, the Company uses the interest rate implicit in a lease to determine the present value of future lease payments. For leases where the implicit rate is not readily determinable, the Company’s incremental borrowing rate is used. The Company calculates its incremental borrowing rate on a periodic basis using a third-party financial model that estimates the rate of interest the Company would have to pay to borrow an amount equal to the total lease payments on a collateralized basis over a term similar to the lease. The Company applies its incremental borrowing rate using a portfolio approach. The right-of-use assets also include any lease payments made prior to commencement and is recorded net of any lease incentives received. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise such options.
Goodwill and Intangible Assets	Goodwill and Intangible Assets Indefinite-lived, non-amortizing intangible assets include goodwill. Goodwill represents the excess of the fair value of the consideration conveyed in the acquisition over the fair value of net assets acquired. Goodwill is not amortized but is evaluated annually for impairment or sooner if factors occur that would trigger an impairment review. Judgments regarding the existence of impairment indicators are based on market conditions and operational performance. Definite-lived, amortizing intangible assets primarily consist of patents, tradenames and other intellectual property. The Company amortizes definite-lived identifiable intangible assets on a straight-line basis over their estimated useful life of 15 years. Impairment of goodwill Goodwill represents the excess of purchase price over the fair value of net assets acquired in a business combination. Goodwill is not amortized but evaluated for impairment at least annually at the reporting unit level or whenever events or changes in circumstances indicate that the value may not be recoverable. Events or changes in circumstances which could trigger an impairment review include significant adverse changes in the business climate, unanticipated competition, a loss of key personnel, or the strategy for the overall business, significant industry or economic trends, or significant underperformance relevant to expected historical or projected future results of operations. Goodwill is assessed for possible impairment by performing a qualitative analysis to determine if it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If, after assessing the events or circumstances, the Company determines it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then additional impairment testing is not required. However, if the Company were to believe the fair value was more likely than not lower than the carrying value, then the Company is required to perform a quantitative analysis. The quantitative analysis involves comparing the estimated fair value of a reporting unit with its respective book value, including goodwill. If the estimated fair value exceeds book value, goodwill is considered not to be impaired and no additional steps are necessary. If, however, the fair value of the reporting unit is less than its book value, then the carrying amount of the goodwill is reduced by recording an impairment loss in an amount equal to the excess. The Company reviews goodwill for impairment annually on October 1.
Long-Lived Assets	Long-Lived Assets The Company accounts for impairment of long-lived assets in accordance with the provisions of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 350, Intangibles – Goodwill and Other and Topic 360, Impairment or Disposal of Long-Lived Assets. These standards require that long-lived assets and certain identifiable intangibles be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of long-lived assets to be held and used is measured by a comparison of the carrying amount of an asset to future estimated cash flows expected to arise as a direct result of the use and eventual disposition of the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value, less costs to sell.
Fair Value	Fair Value ASC Topic 820, Fair Value Measurements and Disclosures, defines fair value, establishes a framework for measuring fair value in accordance with accounting principles generally accepted in the United States, and expands disclosure requirements about fair value measurements. ASC Topic 820 defines three categories for the classification and measurement of assets and liabilities carried at fair value: Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Observable market-based inputs or observable inputs that are corroborated by market data Level 3: Unobservable inputs reflecting the reporting entity’s own assumptions. The fair value of financial instruments is generally estimated through the use of public market prices, quotes from financial institutions and other available information. Judgment is required in interpreting data to develop estimates of market value and, accordingly, amounts are not necessarily indicative of the amounts that could be realized in a current market exchange. Short-term financial instruments, including cash, prepaid expenses and other current assets, accounts payable, and other liabilities, consist primarily of instruments without extended maturities, for which the fair value, based on management’s estimates, approximates their carrying values. Borrowings bear interest at what is estimated to be current market rates of interest, accordingly, carrying value approximates fair value.
Earnings Per Share	Earnings Per Share Basic earnings per share of common stock is computed by dividing net income/(loss) attributable to AirSculpt Technologies, Inc. for the twelve months ended December 31, 2023, 2022 and 2021 by the weighted-average number of shares of common stock outstanding during the same period. Diluted earnings per share of common stock is computed by dividing net income/(loss) attributable to AirSculpt Technologies, Inc. for the twelve months ended December 31, 2023, 2022 and 2021 by the weighted-average number of shares of common stock adjusted to give effect to potentially dilutive securities. Where the inclusion of potentially dilutive shares would be antidilutive, diluted loss per share equals basic loss per share. Prior to the IPO, the EBS Intermediate Parent, LLC structure included only LLC common units. As a result, the Company does not believe earnings per share to be a meaningful presentation in the accompanying consolidated financial statements for the periods of 2021 prior to the IPO. Therefore, earnings per share information has not been presented for periods prior to the IPO on October 28, 2021. Thus, the basic and diluted earnings (loss) per share represent only the period from October 28, 2021 to December 31, 2021.
Advertising Costs	Advertising Costs Advertising costs are expensed in the period when the costs are incurred and are included as a component of selling, general and administrative expenses.
Income Taxes	Income Taxes Prior to the Reorganization, the Company was organized as a limited liability company and had elected to be treated as a partnership for federal and state income tax purposes. Accordingly, the tax consequences of the Company’s profits and losses were passed through to the members of the Company and were reported in their respective income tax returns. Therefore, historically no provision for income taxes has been provided in the accompanying consolidated financial statements for the periods prior to the Reorganization. As a result of the Reorganization, the Company became subject to taxation as a C corporation for periods after October 28, 2021. The Company applies the provisions of ASC 740-10, Accounting for Uncertain Tax Positions (“ASC 740-10”). Under these provisions, companies must determine and assess all material positions existing as of the reporting date, including all significant uncertain positions, for all tax years that are open to assessment or challenge under tax statutes. Additionally, those positions that have only timing consequences are analyzed and separated based on ASC 740-10’s recognition and measurement model. ASC 740-10 provides guidance related to uncertain tax positions for pass-through entities and tax-exempt not-for profit entities. ASC 740-10 also modifies disclosure requirements related to uncertain tax positions for nonpublic entities and provides that all entities are subject to ASC 740-10 even if the only tax position in question is the entity’s status as a pass-through. As required by the uncertain tax position guidance, the Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the condensed consolidated financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. The Company applied the uncertain tax position guidance to all tax positions for which the statute of limitations remained open and determined that there are no uncertain tax positions as of December 31, 2023 or December 31, 2022. The Company is not subject to U.S. federal tax examination prior to 2021, when it was formed.

PROPERTY AND EQUIPMENT, NET (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

As of December 31, 2023 and December 31, 2022 property and equipment consists of the following: (in 000’s):


	December 31, 2023		December 31, 2022
Medical equipment	$	11,576	$	8,906
Office and computer equipment	860		551
Furniture and fixtures	4,280		3,457
Leasehold improvements	21,982		14,614
Construction in progress	1,910		2,854
Less: Accumulated depreciation	(11,700)		(6,176)
Property and equipment, net	$	28,908	$	24,206

EQUITY-BASED COMPENSATION - Valuation Assumptions on Market Based Performance Shares (Details) - Market Based Performance Shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	89.90%	82.40%	66.00%
Expected term	2 years 9 months 29 days	2 years 10 months 6 days	3 years 2 months 1 day
Risk-free interest rate	3.83%	1.72%	0.84%
Expected dividend yield	0.00%	0.00%	0.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

ORGANIZATION AND SUMMARY OF KEY ACCOUNTING POLICIES	12 Months Ended
ORGANIZATION AND SUMMARY OF KEY ACCOUNTING POLICIES	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND SUMMARY OF KEY ACCOUNTING POLICIES	NOTE 1 – ORGANIZATION AND SUMMARY OF KEY ACCOUNTING POLICIES AirSculpt Technologies, Inc. (“AirSculpt” or the "Company"), was formed as a Delaware corporation on June 30, 2021. On October 28, 2021, AirSculpt completed an initial public offering (“IPO”) of 8,050,000 shares of common stock at an initial public offering price of $11.00 per share. Immediately following the IPO, AirSculpt’s total outstanding shares were 55,640,154. Pursuant to a reorganization (the “Reorganization”) among entities under common control immediately prior to the IPO, AirSculpt became a holding company with its principal asset being 100% of the ownership interests in EBS Intermediate Parent LLC. The Company's revenues are concentrated in the specialty, minimally invasive liposuction market. The operations of the Company prior to the IPO represent the predecessor to AirSculpt. The Company and its consolidated subsidiaries are referred to collectively in these consolidated financial statements as “we,” “our,” and “us.” Solely for convenience, some of the copyrights, trade names and trademarks referred to in these consolidated financial statements are listed without their ©, ® and ™ symbols, but we will assert, to the fullest extent under applicable law, our rights to our copyrights, trade names and trademarks. The Company, through its wholly-owned subsidiaries, is a provider of practice management services to professional associations (“PAs”) located throughout the United States, Canada, and the United Kingdom. The Company owns and operates non-clinical assets and provides its management services to the PAs through management services agreements (“MSAs”). Management services provide for the administration of the non-clinical aspects of the medical operations and include, but are not limited to, financial, administrative, technical, marketing, and personnel services. Pursuant to the MSA, the PA is responsible for all clinical aspects of the medical operations of the practice. Principles of Consolidation These consolidated financial statements present the financial position and results of operations of the Company, its wholly-owned domestic and international subsidiaries, and its variable interest in the managed PAs in the United States ("Domestic PAs"), which are under the control of the Company and are considered variable interest entities in which the Company is the primary beneficiary. All intercompany accounts and transactions have been eliminated in consolidation. Variable Interest Entities The Company has a variable interest in the Domestic PAs where it has a long-term and unilateral controlling financial interest over their assets and operations. The Company has the ability to direct the activities that most significantly affect the Domestic PAs’ economic performance via the MSAs and related agreements. The Company is a practice management service organization and does not engage in the practice of medicine. These services are provided by licensed professionals at each of the Domestic PAs. Certain key features of the MSAs and related agreements enable the Company to assign the member interests of certain of the Domestic PAs to another member designated by the Company (i.e., “nominee shareholder”) for a nominal value in certain circumstances at the Company’s sole discretion. The MSA does not allow the Company to be involved in, or provide guidance on, the clinical operations of the Domestic PAs. The Company consolidates the Domestic PAs into the financial statements. All of the Company’s revenue is earned from services provided by the Domestic PAs and its wholly-owned foreign subsidiaries in the United Kingdom and Canada. The only assets and liabilities held by the Domestic PAs included in the accompanying consolidated balance sheets are clinical related. The clinical assets and liabilities are not material to the Company as a whole. Accounting Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and Concentration of Credit Risk The Company considers all highly liquid investments with original maturities of three months or less when purchased to be cash equivalents. The Company’s revenues are concentrated in the specialty, minimally invasive liposuction market. The Company maintains cash balances at financial institutions which may at times exceed the amount covered by the Federal Deposit Insurance Corporation. The Company has not experienced any losses in such accounts. Revenue Recognition Revenue consists primarily of revenue earned for the provision of the Company’s patented AirSculpt® procedures. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account for revenue recognition. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The Company’s performance obligations are delivery of specialty, minimally invasive liposuction services. The Company assists patients, as needed, by providing third-party financing options to pay for procedures. The Company has arrangements with various financing companies to facilitate this option. There is a financing transaction fee based on a set percentage of the amount financed and are not contingent upon any criteria. The Company recognizes revenue based on the expected transaction price which is reduced for financing fees. Revenue for services is recognized when the service is performed. Payment is typically rendered in advance of the service. Customer contracts generally do not include more than one performance obligation. The Company’s policy is to require payment for services in advance. Payments received for services that have yet to be performed as of December 31, 2023 and December 31, 2022 are included in deferred revenue and patient deposits. All of the deferred revenue and patient deposits as of December 31, 2022 were recognized in revenue during the twelve months ended December 31, 2023. For the years ended December 31, 2023, 2022 and 2021, revenue from international locations was $5.2 million, $0.3 million and $— million, respectively. Cost of Service Cost of service is comprised of all service and product costs related to the delivery of procedures, including but not limited to compensation to doctors, nurses and clinical staff, supply costs, and facility rent expense. Deferred Financing Costs, Net Loan costs and discounts are capitalized in the period in which they are incurred and amortized on the straight-line basis over the term of the respective financing agreement which approximates the effective interest method. These costs are included as a reduction of long-term debt on the consolidated balance sheets. Total amortization of deferred financing costs was approximately $0.2 million, $0.9 million, and $0.6 million for the twelve months ended December 31, 2023, 2022 and 2021, respectively. Amortization of loan costs and discounts is included as a component of interest expense. Property and Equipment, Net Property and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method of accounting over the assets’ estimated useful lives. Depreciation of leasehold improvements is based on the shorter of the estimated useful life of the improvement or the remaining lease term. As of December 31, 2023, the Company has $1.7m recorded in other long-term assets related to a software as a service hosting arrangement that has not yet been implemented. Leases The Company determines if an arrangement is a lease at inception. Right-of-use assets represent the right to use the underlying assets for the lease term and the lease liabilities represent the obligation to make lease payments arising from the leases. Right-of-use assets and liabilities are recognized at commencement date based on the present value of future lease payments over the lease term, which includes only payments that are fixed or determinable at the time of commencement. When readily determinable, the Company uses the interest rate implicit in a lease to determine the present value of future lease payments. For leases where the implicit rate is not readily determinable, the Company’s incremental borrowing rate is used. The Company calculates its incremental borrowing rate on a periodic basis using a third-party financial model that estimates the rate of interest the Company would have to pay to borrow an amount equal to the total lease payments on a collateralized basis over a term similar to the lease. The Company applies its incremental borrowing rate using a portfolio approach. The right-of-use assets also include any lease payments made prior to commencement and is recorded net of any lease incentives received. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise such options. Goodwill and Intangible Assets Indefinite-lived, non-amortizing intangible assets include goodwill. Goodwill represents the excess of the fair value of the consideration conveyed in the acquisition over the fair value of net assets acquired. Goodwill is not amortized but is evaluated annually for impairment or sooner if factors occur that would trigger an impairment review. Judgments regarding the existence of impairment indicators are based on market conditions and operational performance. Definite-lived, amortizing intangible assets primarily consist of patents, tradenames and other intellectual property. The Company amortizes definite-lived identifiable intangible assets on a straight-line basis over their estimated useful life of 15 years. Impairment of goodwill Goodwill represents the excess of purchase price over the fair value of net assets acquired in a business combination. Goodwill is not amortized but evaluated for impairment at least annually at the reporting unit level or whenever events or changes in circumstances indicate that the value may not be recoverable. Events or changes in circumstances which could trigger an impairment review include significant adverse changes in the business climate, unanticipated competition, a loss of key personnel, or the strategy for the overall business, significant industry or economic trends, or significant underperformance relevant to expected historical or projected future results of operations. Goodwill is assessed for possible impairment by performing a qualitative analysis to determine if it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If, after assessing the events or circumstances, the Company determines it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then additional impairment testing is not required. However, if the Company were to believe the fair value was more likely than not lower than the carrying value, then the Company is required to perform a quantitative analysis. The quantitative analysis involves comparing the estimated fair value of a reporting unit with its respective book value, including goodwill. If the estimated fair value exceeds book value, goodwill is considered not to be impaired and no additional steps are necessary. If, however, the fair value of the reporting unit is less than its book value, then the carrying amount of the goodwill is reduced by recording an impairment loss in an amount equal to the excess. The Company reviews goodwill for impairment annually on October 1. See “Note 2—Goodwill and Intangibles, Net” for further discussion. Long-Lived Assets The Company accounts for impairment of long-lived assets in accordance with the provisions of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 350, Intangibles – Goodwill and Other and Topic 360, Impairment or Disposal of Long-Lived Assets. These standards require that long-lived assets and certain identifiable intangibles be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of long-lived assets to be held and used is measured by a comparison of the carrying amount of an asset to future estimated cash flows expected to arise as a direct result of the use and eventual disposition of the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value, less costs to sell. No impairment charges were recognized for the twelve months ended December 31, 2023, 2022 and 2021. Fair Value ASC Topic 820, Fair Value Measurements and Disclosures, defines fair value, establishes a framework for measuring fair value in accordance with accounting principles generally accepted in the United States, and expands disclosure requirements about fair value measurements. ASC Topic 820 defines three categories for the classification and measurement of assets and liabilities carried at fair value: Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Observable market-based inputs or observable inputs that are corroborated by market data Level 3: Unobservable inputs reflecting the reporting entity’s own assumptions. The fair value of financial instruments is generally estimated through the use of public market prices, quotes from financial institutions and other available information. Judgment is required in interpreting data to develop estimates of market value and, accordingly, amounts are not necessarily indicative of the amounts that could be realized in a current market exchange. Short-term financial instruments, including cash, prepaid expenses and other current assets, accounts payable, and other liabilities, consist primarily of instruments without extended maturities, for which the fair value, based on management’s estimates, approximates their carrying values. Borrowings bear interest at what is estimated to be current market rates of interest, accordingly, carrying value approximates fair value. Earnings Per Share Basic earnings per share of common stock is computed by dividing net income/(loss) attributable to AirSculpt Technologies, Inc. for the twelve months ended December 31, 2023, 2022 and 2021 by the weighted-average number of shares of common stock outstanding during the same period. Diluted earnings per share of common stock is computed by dividing net income/(loss) attributable to AirSculpt Technologies, Inc. for the twelve months ended December 31, 2023, 2022 and 2021 by the weighted-average number of shares of common stock adjusted to give effect to potentially dilutive securities. Where the inclusion of potentially dilutive shares would be antidilutive, diluted loss per share equals basic loss per share. Prior to the IPO, the EBS Intermediate Parent, LLC structure included only LLC common units. As a result, the Company does not believe earnings per share to be a meaningful presentation in the accompanying consolidated financial statements for the periods of 2021 prior to the IPO. Therefore, earnings per share information has not been presented for periods prior to the IPO on October 28, 2021. Thus, the basic and diluted earnings (loss) per share represent only the period from October 28, 2021 to December 31, 2021. Advertising Costs Advertising costs are expensed in the period when the costs are incurred and are included as a component of selling, general and administrative expenses. Advertising expenses were approximately $25.9 million, $20.6 million and $14.8 million for the twelve months ended December 31, 2023, 2022 and 2021, respectively. Income Taxes Prior to the Reorganization, the Company was organized as a limited liability company and had elected to be treated as a partnership for federal and state income tax purposes. Accordingly, the tax consequences of the Company’s profits and losses were passed through to the members of the Company and were reported in their respective income tax returns. Therefore, historically no provision for income taxes has been provided in the accompanying consolidated financial statements for the periods prior to the Reorganization. As a result of the Reorganization, the Company became subject to taxation as a C corporation for periods after October 28, 2021. The Company applies the provisions of ASC 740-10, Accounting for Uncertain Tax Positions (“ASC 740-10”). Under these provisions, companies must determine and assess all material positions existing as of the reporting date, including all significant uncertain positions, for all tax years that are open to assessment or challenge under tax statutes. Additionally, those positions that have only timing consequences are analyzed and separated based on ASC 740-10’s recognition and measurement model. ASC 740-10 provides guidance related to uncertain tax positions for pass-through entities and tax-exempt not-for profit entities. ASC 740-10 also modifies disclosure requirements related to uncertain tax positions for nonpublic entities and provides that all entities are subject to ASC 740-10 even if the only tax position in question is the entity’s status as a pass-through. As required by the uncertain tax position guidance, the Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the condensed consolidated financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. The Company applied the uncertain tax position guidance to all tax positions for which the statute of limitations remained open and determined that there are no uncertain tax positions as of December 31, 2023 or December 31, 2022. The Company is not subject to U.S. federal tax examination prior to 2021, when it was formed. The Company has effective tax rates of approximately 249.4%, (29.9)% and 3.0% for the twelve months ended December 31, 2023, 2022 and 2021, respectively, inclusive of all applicable U.S. federal and state income taxes. Prior to the Reorganization, the Company was not subject to federal taxation.

PROPERTY AND EQUIPMENT, NET - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 5.5	$ 3.3	$ 1.8

SEGMENT INFORMATION	12 Months Ended
SEGMENT INFORMATION	Dec. 31, 2023
Segment Reporting [Abstract]
SEGMENT INFORMATION	NOTE 10 – SEGMENT INFORMATION The Company has one reportable segment: direct medical procedure services. This segment is made up of facilities and medical staff that provide the Company’s patented AirSculpt® procedures to patients. Segment information is presented in the same manner that the Company’s chief operating decision maker (“CODM”) reviews the operating results in assessing performance and allocating resources. The Company’s CODM is the Company’s chief executive officer. The CODM reviews financial information presented on a consolidated basis for purposes of making operating decisions, assessing financial performance and allocating resources. The Company’s CODM reviews revenue, gross profit and Adjusted EBITDA. Gross profit is defined as revenues less cost of service incurred and Adjusted EBITDA as net loss/income excluding depreciation and amortization, net interest expense, income tax expense, restructuring and related severance costs, IPO related costs, loss/(gain) on disposal of long-lived assets, and equity-based compensation.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

PROPERTY AND EQUIPMENT, NET - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Less: Accumulated depreciation	$ (11,700)	$ (6,176)
Property and equipment, net	28,908	24,206
Medical equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	11,576	8,906
Office and computer equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	860	551
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	4,280	3,457
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	21,982	14,614
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 1,910	$ 2,854