American Shared Hospital Services (NYSEAM:AMS) Q4 2025 Earnings call March 31, 2026 12:00 PM ET Company ParticipantsGary Delanois - CEOKirin Smith - PresidentRay Stachowiak - Executive ChairmanScott Frech - CFOConference Call ParticipantsAnthony Marchese - AnalystMarla Marin - Senior AnalystOperatorPlease note this event is being recorded. I would now like to turn the conference over to Mr. Kirin Smith. Please go ahead.Kirin SmithThank you, Chuck, and thank you everyone for joining us today. AMS's fourth qu ...

American Shared Hospital Services (NYSEAM:AMS) Q4 2025 Earnings call March 31, 2026 12:00 PM ET Company ParticipantsGary Delanois - CEOKirin Smith - PresidentRay Stachowiak - Executive ChairmanScott Frech - CFOConference Call ParticipantsAnthony Marchese - AnalystMarla Marin - Senior AnalystOperatorPlease note this event is being recorded. I would now like to turn the conference over to Mr. Kirin Smith. Please go ahead.Kirin SmithThank you, Chuck, and thank you everyone for joining us today. AMS's fourth qu ...

American Shared Hospital Services (NYSEAM:AMS) Q4 2025 Earnings call March 31, 2026 12:00 PM ET Speaker4Please note this event is being recorded. I would now like to turn the conference over to Mr. Kirin Smith. Please go ahead.Speaker2Thank you, Chuck, and thank you everyone for joining us today. AMS's fourth quarter and full year 2025 earnings press release was issued today before the market opened. If you need a copy, it can be accessed on the company's website at www.ashs.com at Press Releases under the ...

Exhibit 99.1 American Shared Hospital Services Reports Fourth Quarter and Full Year 2025 Financial Results Announces Seven Year Extension of Proton Therapy Lease Agreement with Orlando Health Through 2033 Conference Call Scheduled for 12:00 PM ET Today SAN FRANCISCO, CA, March 31, 2026 – American Shared Hospital Services (NYSE American: AMS) (the "Company"), a leading provider of stereotactic radiosurgery equipment and advanced radiation therapy cancer treatment services through its equipment leasing and di ...

American Shared Hospital Services Reports Fourth Quarter and Full Year 2025 Financial Results Announces Seven Year Extension of Proton Therapy Lease Agreement with Orlando Health Through 2033Conference Call Scheduled for 12:00 PM ET TodaySAN FRANCISCO, CA, March 31, 2026 – PRISM MediaWire (Press Release Service – Press Release Distribution) – American Shared Hospital Services (NYSE American: AMS) (the “Company”), a leading provider of stereotactic radiosurgery equipment and advanced radiation therapy cance ...

Call Scheduled for March 31st at 12:00 PM ETSAN FRANCISCO, March 24, 2026 (GLOBE NEWSWIRE) -- American Shared Hospital Services (NYSE American: AMS) (the "Company"), a leading provider of stereotactic radiosurgery equipment and advanced radiation therapy cancer treatment services through its equipment leasing and direct patient care services segments, today announced that the Company will hold a conference call to discuss its fourth quarter and full year 2025 financial results on March 31st at 12:00 pm ET. ...

Revenue and Financial Performance - The Company recognized leasing revenue of approximately $3,137,000 and $9,699,000 for the three and nine-month periods ended September 30, 2025, compared to $3,312,000 and $11,464,000 for the same periods in the prior year[99]. - Direct patient services revenues for the three and nine-month periods ended September 30, 2025, were approximately $4,034,000 and $10,655,000, compared to $3,687,000 and $7,807,000 for the same periods in the prior year[102]. - Revenues for Q3 2025 increased by $172,000 to $7,171,000 compared to $6,999,000 in Q3 2024, and for the nine-month period, revenues increased by $1,083,000 to $20,354,000 compared to $19,271,000 in the prior year[111]. - Direct patient services revenue increased by $347,000 to $4,034,000 for Q3 2025, and by $2,848,000 to $10,655,000 for the nine-month period, driven by the RI Companies acquisition and the Puebla facility[111]. - Radiation therapy revenues from the RI Companies and Puebla facility totaled $2,918,000 for Q3 2025 and $7,832,000 for the nine-month period, compared to $2,862,000 and $4,754,000 in the prior year[112]. - PBRT system revenues decreased by $189,000 to $2,127,000 for Q3 2025 and by $1,695,000 to $5,691,000 for the nine-month period, attributed to lower volumes[113]. - Gamma Knife revenue increased by $305,000 to $2,126,000 for Q3 2025 but decreased by $300,000 to $6,831,000 for the nine-month period, reflecting mixed performance across segments[115]. Costs and Expenses - Total costs of revenue decreased by $44,000 to $5,585,000 for Q3 2025 but increased by $2,906,000 to $16,196,000 for the nine-month period[117]. - Selling and administrative expenses decreased by $385,000 to $1,538,000 for Q3 2025 and by $606,000 to $5,092,000 for the nine-month period, primarily due to lower legal costs[121]. - Interest expense increased by $56,000 to $392,000 for Q3 2025 and by $183,000 to $1,253,000 for the nine-month period, driven by increased borrowings[123]. Assets and Liabilities - Accounts receivable balances under ASC 606 at September 30, 2025, were $7,981,000, compared to $5,357,000 at September 30, 2024[102]. - The company had cash and cash equivalents of $5,345,000 as of September 30, 2025, down from $11,275,000 at December 31, 2024, reflecting a decrease of $5,930,000 during the first nine months of 2025[129]. - Working capital decreased by $12,433,000 to $3,420,000 as of September 30, 2025, compared to $15,853,000 at December 31, 2024[130]. - Long-term debt was $16,933,000 as of September 30, 2025, down from $18,462,000 at December 31, 2024[135]. - The DFC Loan has an outstanding amount of $1,313,000 as of September 30, 2025, down from $1,806,000 at December 31, 2024[138]. Financing and Commitments - The Company has secured a total of $22,000,000 in credit facilities with Fifth Third Bank, which includes a $9,500,000 term loan and a $7,000,000 revolving line of credit[132]. - The Company received a limited waiver from Fifth Third regarding its failure to comply with the maximum funded debt to EBITDA ratio covenant as of June 30, 2025[137]. - The Company anticipates being able to secure financing for future projects, although there is no assurance that financing will be available on acceptable terms[130]. - Total commitments for purchasing and installing two Leksell Gamma Knife Esprit Systems and two Linear Accelerator systems amounted to $7,884,000 as of September 30, 2025[144]. - The Company has commitments to service and maintain its Gamma Knife, LINAC, and PBRT equipment totaling $6,870,000 as of September 30, 2025[146]. Related Party Transactions - Related party transactions totaled $1,521,000 for the three months ended September 30, 2025, compared to $694,000 for the same period in 2024[148]. Operational Overview - The Company acquired 60% of the equity interests of the RI Companies, which operate three radiation therapy facilities in Rhode Island, on May 7, 2024[93]. - The Company operates seven Gamma Knife systems and one PBRT system as of September 30, 2025, under leasing contracts with hospitals[92]. - The Company has stand-alone facilities in Lima, Peru, Guayaquil, Ecuador, and Puebla, Mexico, providing direct patient services[100]. - The Company’s PBRT system at Orlando Health operates under a revenue share contract within the leasing segment[98]. - The Company’s revenue sharing arrangements include a cost-sharing component, with operating costs recorded as other direct operating costs[99]. Reimbursement Rates - The Centers for Medicare and Medicaid established a 2025 reimbursement rate of approximately $7,645 for a Medicare Gamma Knife treatment, up from $7,420 in 2024[95]. - The approximate CMS reimbursement rates for PBRT treatments in 2025 are $578 for simple treatments and $1,276 for intermediate and complex treatments[95].

Financial Data and Key Metrics Changes - Total revenue for Q3 2025 increased by 2.5% to $7.2 million compared to $7 million in Q3 2024 [16] - Year-to-date revenues increased by 5.6% to $20.4 million compared to $19.3 million in the first nine months of 2024 [18] - Adjusted EBITDA for Q3 2025 was $1.9 million, a 42% increase from $1.3 million in Q3 2024 [9][18] - Gross margins improved to 22.1% in Q3 2025, with a 60% year-over-year increase to $1.6 million [18] Business Line Data and Key Metrics Changes - Revenue from direct patient services increased by 9.4% to $4 million in Q3 2025, driven by increased procedures at the new facility in Puebla, Mexico [16] - Gamma Knife revenue increased by 16% year-over-year to $2.1 million in Q3 2025, with the number of procedures rising to 231 from 218 in Q3 2024 [17] - Revenue from the medical equipment leasing segment decreased to $3.1 million from $3.3 million in Q3 2024 due to lower proton beam radiation therapy volumes [16] Market Data and Key Metrics Changes - The new radiation therapy treatment center in Puebla, Mexico showed a remarkable 263% annual revenue growth [8] - The company expects continued growth in treatment volumes, particularly in Rhode Island, as new radiation oncologists engage with the healthcare community [10] Company Strategy and Development Direction - The company is transitioning from a medical equipment leasing focus to a more patient-centric service model, which is expected to enhance long-term shareholder value [4][5] - The acquisition of three Rhode Island cancer treatment centers and the new center in Puebla, Mexico are seen as significant growth opportunities [10] - Plans to construct a fourth radiation therapy center in Bristol, Rhode Island, and the first proton beam radiation therapy center in the state are underway, representing major growth opportunities [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's long-term growth strategy and the ability to weather short-term fluctuations [13] - The management team is focused on operational efficiencies and building momentum as growth strategies take hold [35] Other Important Information - The company entered Q3 2025 with cash and cash equivalents of $5.1 million, down from $11 million at the end of 2024, reflecting capital expenditures for expansion [22] - Shareholders' equity was $24.6 million, or $3.78 per outstanding share, compared to $25.2 million, or $3.92 per share at the end of 2024 [23] Q&A Session Summary Question: Concerns about shareholder value and investor outreach - A shareholder expressed concerns about the company's market cap relative to its EBITDA and suggested increased investor outreach [26] - Management acknowledged the need for more outreach and recognized the importance of communicating the company's progress to shareholders [28] Question: Disconnect between market valuation and company performance - Another investor questioned why the stock is trading at a 52-week low despite positive results and growth prospects [30] - Management attributed this to thin trading and lack of exposure, agreeing that increased outreach is necessary [32]

Revenue Growth - Q3 2025 revenue increased 2.5% to $7.2 million compared to $7.0 million in Q3 2024[6] - Direct patient care services revenue for Q3 2025 increased 9.4% to $4.0 million, representing 56% of total sales[7] - Revenue for the first nine months of 2025 increased 5.6% to $20.4 million compared to $19.3 million in the same period of 2024[11] - Direct patient care services revenue for the first nine months of 2025 increased 36.5% to $10.7 million[12] Profitability and Loss - Q3 2025 EBITDA increased 42.3% to $1.94 million compared to $1.37 million in Q3 2024[4] - Net loss for Q3 2025 decreased 91.8% to $17,000 from a loss of $207,000 in Q3 2024[9] - Net loss attributable to American Shared Hospital Services for the three months ended September 30, 2025, was $(17,000) compared to $(207,000) for the same period in 2024[30] - Total net income for the nine months ended September 30, 2025, was $(922,000), compared to $3,514,000 in 2024[30] Expenses - Interest expense for the nine months ended September 30, 2025, was $1,253,000, up from $1,070,000 in 2024[30] - Depreciation and amortization expense for the nine months ended September 30, 2025, was $4,411,000, slightly down from $4,501,000 in 2024[30] - Stock-based compensation expense for the three months ended September 30, 2025, was $101,000, compared to $88,000 in 2024[30] Cash and Assets - Cash and cash equivalents decreased to $5.3 million as of September 30, 2025, from $11.3 million at December 31, 2024[17] - Loss on write down of impaired assets and associated removal costs was $0 for the three months ended September 30, 2025, compared to $188,000 in 2024[30] - Bargain purchase gain, net, was $0 for the three months ended September 30, 2025, compared to $(263,000) in 2024[30] Tax and Interest Income - Income tax benefit for the three months ended September 30, 2025, was $48,000, compared to a benefit of $(169,000) in 2024[30] - Interest income for the nine months ended September 30, 2025, was $(157,000), down from $(252,000) in 2024[30] Business Developments - The company signed a 10-year extension with an existing health system for the latest model Gamma Knife System[3] - The new radiation therapy center in Puebla, Mexico has shown significant revenue growth since its opening[3]

Core Insights - American Shared Hospital Services reported a 2.5% increase in revenue for Q3 2025, with a significant 42.3% growth in EBITDA, indicating strong operational performance and efficiency improvements [2][5][10] - The company signed a 10-year extension with an existing health system for the latest model Gamma Knife System, which is expected to drive future revenue growth [3][4] Financial Performance - Q3 2025 revenue reached $7.2 million, up from $7.0 million in Q3 2024, primarily driven by the direct patient care services segment [7][8] - Direct patient care services revenue increased by 9.4% to $4.0 million, representing 56% of total sales, compared to 53% in the prior year [8][9] - Gross margin improved to 22.1%, up 15.8% from the previous year, reflecting higher treatment volumes [9] - Net loss decreased by 91.8% to $17,000 in Q3 2025 from a loss of $207,000 in Q3 2024 [10] Year-to-Date Results - For the first nine months of 2025, revenue increased by 5.6% to $20.4 million compared to $19.3 million in the same period of 2024 [11] - Direct patient care services revenue surged by 36.5% to $10.7 million, driven by new centers in Rhode Island and Puebla, Mexico [12] - Revenue from the equipment leasing segment decreased to $9.7 million, down from $11.5 million, due to lower Gamma Knife volumes [13] Operational Highlights - The company is expanding its footprint in Rhode Island with new radiation therapy centers, which are expected to enhance growth potential [4][6] - Capital expenditures of $7.5 million were made during the nine-month period, contributing to the decrease in cash reserves [17] Balance Sheet Overview - As of September 30, 2025, cash and cash equivalents totaled $5.3 million, down from $11.3 million at the end of 2024 [17] - Shareholders' equity was reported at $24.6 million, or $3.77 per outstanding share, compared to $25.2 million or $3.92 per share at the end of 2024 [17]