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SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION
NOTE 10 – SEGMENT INFORMATION
The Company has one operating and 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. The accounting policies of the direct medical procedure services segment are the same as those presented in Note 1 - Organization and Summary of Key Accounting Policies. The Company’s chief operating decision maker (“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, Adjusted EBITDA and net income/(loss). The CODM uses Adjusted EBITDA as the primary profit metric to evaluate income generated from operations in deciding where to spend additional marketing dollars or allocate additional resources. Gross profit is defined as revenues less cost of service incurred and Adjusted EBITDA as net loss excluding depreciation and amortization, net interest expense, income tax (benefit)/expense, restructuring and related severance costs, loss on impairment of long-lived assets, settlement costs for non-recurring litigation, and equity-based compensation. Segment information is presented below showing revenue, significant expenses and net loss (the closest GAAP measure to Adjusted EBITDA), in the same manner that the CODM reviews the operating results in assessing performance and allocating resources.
Twelve Months Ended
December 31,
($ in thousands)202520242023
Revenue$151,818 $180,350 $195,917 
Operating expenses:
Cost of service (exclusive of depreciation and amortization) (1)
61,690 71,149 73,773 
Advertising cost27,316 33,429 25,938 
Facility selling, general, and administrative expense21,089 22,933 24,694 
Corporate selling, general, and administrative expense (2) (3)
33,775 42,518 51,749 
Depreciation and amortization12,781 11,888 10,253 
Loss on impairment of long-lived assets(3)
4,575 16 (212)
Cost related to closing facility, net (4)
2,152 — — 
Total operating expenses163,378 181,933 186,195 
Loss from operations(11,560)(1,583)9,722 
Interest expense, net6,078 6,247 6,485 
Pre-tax net loss(17,638)(7,830)3,237 
Income tax (benefit)/expense(5,971)188 7,477 
Net loss$(11,667)$(8,018)$(4,240)
Segment assets$187,304 $209,996 $204,891 
(1)
Cost of services includes the costs of physicians, nursing, supplies and rent directly related to the performance of procedures at the facility level.
(2)
During the first quarter of fiscal year 2024, the Company recorded a cumulative reversal of stock compensation expense of $10.4 million related to reassessing the probability of achieving the performance target on certain of the Company's performance-based stock units. See Note 6 to the consolidated financial statements included in this Annual Report on Form 10-K for further discussion.
(3)
During the fiscal year ended 2025, the Company recorded a $4.5 million loss related to the impairment of a portion of the Salesforce implementation project and $0.1 million related to the corporate office PPE write-off. See Note 1 to the consolidated financial statements included in this Annual Report on Form 10-K for further discussion.
(4)
During the fiscal year ended 2025, the Company recorded $2.2 million in costs related to the closure of the London facility. Comprising of that amount is a $2.4 million loss on London PPE, $3.3 million rent expense from accelerated amortization, offset by a $3.2 million gain on the deconsolidation as of December 31, 2025 related to net liabilities and $0.3 million income from reclassification of CTA.