AirSculpt Technologies, Inc. — Earnings Quality Grade F
AIRS · Healthcare
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
Insufficient data
Insufficient data
Revenue -15.8%, CFFO -72.7%. Cash follows revenue
Expense Quality
No material inventory
CapEx growth -82.8% vs revenue -15.8%. Normal
SG&A/Gross Profit = 91.2%, exceeds 70%
Gross margin 59.4%, change -1.2pp. Stable
Cash Flow Quality
CFFO < Net Income for 3 consecutive years
Small-cap context: Small-cap CFFO/NI often diverges from working-capital swings, not necessarily manipulation.
FCF $0.0B, FCF/NI = -0.06
Accruals ratio = -7.9%. Low accruals
Cash $0.0B covers only 10% of debt $0.1B
Balance Sheet Health
Goodwill+Intangibles $0.1B = 135% of equity. Over 50%
Debt/EBITDA = 68.4x (>4x). Interest coverage = -0.8x (<2x). Financial stress
Other assets -44.6% vs revenue -15.8%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change -4% YoY. Normal
Manipulation Score
Insufficient data
Portfolio monitoring
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Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25