5/12/2023

speaker
Conference Call Operator
Operator

Good morning and welcome to air sculpt technologies first quarter 2023 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 amp a at this time i'd like to turn the conference over to Dennis Dean chief financial officer at air sculpt technologies, thank you, Sir, you may begin.

speaker
Dennis Dean
Chief Financial Officer, AirSculpt Technologies

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

speaker
Dr. Aaron Rollins
Founder and Executive Chairman, AirSculpt Technologies

Good morning, and thank you for joining us on the call today. I am very pleased with our first quarter results, which included double-digit revenue in case growth and a sequential increase in average revenue per case. Our new center in Orange County, California is off to a great start, and we are also very excited to announce that yesterday we received final approval to open our flagship center in London. This timing is consistent with what we had planned. We have a full complement of physicians to staff the center, enabling us to perform training cases starting next week and paid cases starting in June. Our next opening will be in Austin, which, like Orange County, is positioned for a strong launch. We expect to receive our final occupancy permit shortly, enabling us to open in the month of May. Our de novo pipeline continues to remain full, and we are confident in our new location opportunities for 2024 and beyond. We've been an innovative company, and we continue to be committed to our innovation pipeline, which includes new solutions that will lead to incremental patient engagement, which will be available later this year. Finally, as you will hear from Todd, we are making good progress on our cost management initiatives, which will help us fuel our de novo and innovation growth into the future. Overall, our team remains focused and enthusiastic about continuing to strengthen the Airscope brand and profitability and scale our business both domestically and internationally. Let me turn the call over to Todd to talk more about the quarter and our focus for the rest of the year. Todd?

Disclaimer

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