AirSculpt Technologies, Inc.

Good morning and welcome to AirSculpt Technologies' fourth quarter 2022 earnings conference call. Currently, all participants are in a listen-only mode. As a reminder, today's call is being recorded and we have allocated one hour for prepared remarks and Q&A. At this time, I'd like to turn the conference over to Dennis Dean, Chief Financial Officer at AirSculpt Technologies. Thank you. You may begin.

Good morning, everyone, and thanks for joining us to discuss AirSculpt Technologies' results for the fourth quarter. Joining me on the call today is the company's founder and executive chairman, Dr. Aaron Rollins, and chief executive officer, Todd Magazine. Before we begin, I would like to remind you that this conference call may include forward-looking statements. These statements may include our future expectations regarding financial results and guidance, market opportunities, and our growth. Risk and uncertainties that may impact these statements and could cause actual results to differ materially from currently projected results are described in this morning's press release and the reports we will file with the SEC, all of which can be found on our website at investors.elitebodysculpture.com. We undertake no obligation to revise or update any forward-looking statements or information except as required by law. During our call today, we will also reference certain non-GAAP financial measures. We use non-GAAP measures in some of our financial discussions as we believe they more accurately represent the true operational performance and underlying results of our business. A reconciliation of these measures can be found in our earnings release as filed this morning and in our most recent 10-K when filed, which will also be available on our website. With that, I'll turn the call over to Dr. Rollins. Aaron?

Good morning, and thank you for joining us on the call today. During the fourth quarter, we experienced a healthy bounce back compared to the third quarter in our revenues and procedure volume, led by strong contributions from our de novo centers. Our most recent cohort of new centers, which includes Boston, Toronto, and Philadelphia, is off to a good start, and we are very excited for the upcoming launch of our flagship London location. We continue to be incredibly pleased with the patient enthusiasm around all of our offerings, including AirSculpt Plus and AirSculpt Smooth. and we look forward to introducing additional innovative solutions that meet the needs of our patients. Our team accomplished a lot in 2022. The company's case volumes increased 18%, revenue increased 27%, and we generated cash from operations of nearly $25 million. We refinanced our debt, which will generate considerable interest cost savings. We added four new centers and aggressively built our de novo pipeline, positioning us for five openings this year. We started our international efforts with our Toronto opening as well. I am also excited to share that we grew our earned media share of voice from less than 1% in early 2022 to 30% in recent months. This incredible performance was driven by the PR we generated through our influencer partnerships. And as a model, we will be accelerating in the coming year. We will share more details on this exciting area of opportunity as we progress throughout the year. At the beginning of the year, We were very excited to announce the appointment of Todd Magazine as our Chief Executive Officer. Todd has over 30 years of experience in brand building and retail operations, including over a decade as CEO of Blink Fitness, a national fitness chain created by the executives at Equinox, the luxury leader in the fitness industry. Todd helped scale Blink from four locations when he joined to well over 100 during his tenure. He brings strong leadership qualities to our team, and he is an excellent addition as AirSculpt moves to its next phase of scaling growth both domestically and internationally. As previously announced, I have transitioned to Executive Chairman of the Board of Directors, and my focus and attention will be to work with Todd and the leadership team on vision strategy, clinical excellence, and technological innovation. I plan on remaining active in discussions with the financial community as well. With that, let me introduce Todd to discuss more about why he joined AirSculpt and his near-term focus.