Financial Data and Key Metrics Changes - In Q2 2025, total revenue increased by 16% sequentially to $7.1 million compared to $6.1 million in Q1 2025 [17] - Adjusted EBITDA for Q2 2025 was $1.7 million, up from $949,000 in Q1 2025 [11][21] - Net loss for Q2 2025 was $280,000, an improvement from a net loss of $625,000 in Q1 2025 [21] Business Line Data and Key Metrics Changes - Revenue from the Direct Patient Services segment was $3.5 million in Q2 2025, a 12% increase from $3.1 million in Q2 2024 [18] - Revenue from the equipment leasing segment decreased to $3.6 million from $3.9 million in Q2 2024 [18] - Gamma Knife revenue increased by 25% from Q1 2025 to $2.6 million in Q2 2025, but was down about 5% compared to Q2 2024 [19] Market Data and Key Metrics Changes - The company continues to see growth in international markets, particularly with the Gamma Knife centers in Peru and Ecuador, and the new center in Puebla, Mexico [13] - The acquisition of Rhode Island cancer treatment centers has significantly contributed to revenue growth [10][12] Company Strategy and Development Direction - The company is transitioning from a cancer treatment equipment leasing focus to a more patient-centric service model, which is expected to drive long-term growth [6][7] - Plans to expand operations include building a fourth radiation therapy treatment center in Bristol, Rhode Island, and a proton beam radiation therapy center [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term growth trajectory, emphasizing the importance of focusing on overall growth opportunities [8][16] - The company anticipates fluctuations in treatment volumes but remains optimistic about steady growth in the overall business [11][16] Other Important Information - The company ended Q2 2025 with cash and cash equivalents of $11.3 million, consistent with the end of 2024 [25] - Shareholders' equity was $24.5 million, down from $25.2 million at the end of 2024 [26] Q&A Session Summary Question: Are there any pre-opening activities for the new locations in Rhode Island? - Management confirmed the addition of three full-time radiation oncologists to support the new centers, which will enhance service delivery [30][31] Question: Will these activities benefit the new centers? - Management affirmed that there are economies of scale with the expansion within the Rhode Island marketplace [33]

[Financial Highlights and Management Commentary](index=1&type=section&id=Financial%20Highlights%20and%20Management%20Commentary) This section covers key financial performance and management's strategic outlook [Key Financial Highlights](index=1&type=section&id=Key%20Financial%20Highlights) American Shared Hospital Services reported a **16% sequential revenue increase** in Q2 2025, driven by strong Gamma Knife and LINAC performance, despite flat year-over-year total revenue Q2 2025 Revenue Performance vs. Prior Periods | Revenue Category | Sequential Change (vs Q1 2025) | Year-over-Year Change (vs Q2 2024) | | :--- | :--- | :--- | | **Total Revenue** | ▲ 16% | ▲ 0.2% | | **Gamma Knife Revenue** | ▲ 25% | ▼ 5% | | **LINAC Revenue** | ▲ 7% | ▲ 34% | | **Proton Beam Radiation Therapy Revenue** | ▲ 17% | ▼ 21% | [Management Commentary](index=1&type=section&id=Management%20Commentary) Management expressed optimism for growth, focusing on direct patient services, operational efficiencies, and strategic acquisitions, highlighting diversification success - The CEO highlighted a focus on expanding the business model and operational enhancements, with expected growth from a new Esprit system in Guadalajara, Mexico, and expansion in Rhode Island[2](index=2&type=chunk) - The CFO emphasized the positive momentum from the growth strategy, which focuses on shifting from a traditional leasing model to being a direct provider of radiation therapy services[2](index=2&type=chunk) - The Executive Chairman noted four years of consecutive revenue growth and three years of sustained profitability, underscoring the success of recent acquisitions and the ongoing pursuit of additional strategic tuck-in acquisitions[4](index=4&type=chunk) [Financial Results](index=2&type=section&id=Financial%20Results) This section details the company's financial performance for Q2 and year-to-date 2025, including revenue, gross margin, and net income [Second Quarter 2025 Performance (Three Months Ended June 30, 2025)](index=2&type=section&id=Second%20Quarter%202025%20Performance%20(Three%20Months%20Ended%20June%2030%2C%202025)) Q2 2025 revenue was **$7.1 million**, up **0.2%** year-over-year, but the company reported a **net loss of $280,000** due to lower volumes and the absence of a prior-year bargain purchase gain Q2 2025 vs. Q2 2024 Financial Summary (in US Dollars) | Metric | Q2 2025 | Q2 2024 | Change | | :--- | :--- | :--- | :--- | | Revenue | $7,071,000 | $7,056,000 | ▲ 0.2% | | Gross Margin | $1,630,000 | $2,468,000 | ▼ 34.0% | | Net (Loss)/Income | $(280,000) | $3,602,000 | - | | Diluted EPS | $(0.04) | $0.55 | - | | Adjusted EBITDA | $1,701,000 | $2,010,000 | ▼ 15.4% | - Revenue from the direct patient services segment grew **11% to $3.5 million**, primarily due to the Rhode Island centers and the new facility in Puebla, Mexico[6](index=6&type=chunk) - Revenue from the medical equipment leasing segment fell **8% to $3.6 million** due to lower Gamma Knife volumes from expired contracts and decreased PBRT volumes[7](index=7&type=chunk) - The net loss in Q2 2025 contrasts with a large net income in Q2 2024, which included a **$3,679,000 net bargain purchase gain** from the RI Acquisition[9](index=9&type=chunk) [Year-to-Date 2025 Performance (Six Months Ended June 30, 2025)](index=3&type=section&id=Year-to-Date%202025%20Performance%20(Six%20Months%20Ended%20June%2030%2C%202025)) H1 2025 revenue increased **7% to $13.2 million**, driven by direct patient services, but resulted in a **net loss of $905,000** compared to prior year's profit H1 2025 vs. H1 2024 Financial Summary (in US Dollars) | Metric | H1 2025 | H1 2024 | Change | | :--- | :--- | :--- | :--- | | Revenue | $13,183,000 | $12,272,000 | ▲ 7.4% | | Gross Margin | $2,572,000 | $4,611,000 | ▼ 44.2% | | Net (Loss)/Income | $(905,000) | $3,721,000 | - | | Diluted EPS | $(0.14) | $0.57 | - | | Adjusted EBITDA | $2,650,000 | $3,754,000 | ▼ 29.4% | - Direct patient services revenue grew **61% to $6.6 million**, while leasing segment revenue decreased to **$6.6 million** due to expired contracts, equipment downtime, and lower PBRT volumes[11](index=11&type=chunk)[12](index=12&type=chunk) - The net loss for the first half of 2025 is compared against a net income in H1 2024 that included a **$3,679,000 net bargain purchase gain**[14](index=14&type=chunk) [Balance Sheet Highlights](index=3&type=section&id=Balance%20Sheet%20Highlights) This section provides a snapshot of the company's financial position, including cash, total assets, and shareholders' equity [Balance Sheet Summary](index=3&type=section&id=Balance%20Sheet%20Summary) As of June 30, 2025, cash and equivalents remained stable at **$11.3 million**, total assets increased to **$63.5 million**, and shareholders' equity was **$24.5 million** Balance Sheet Data (Unaudited, in US Dollars) | Metric | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash, cash equivalents and restricted cash | $11,331,000 | $11,275,000 | | Total assets | $63,494,000 | $60,197,000 | | Shareholders' equity (excluding NCI) | $24,481,000 | $25,183,000 | | Equity per outstanding share | $3.78 | $3.92 | [Supplementary Information](index=3&type=section&id=Supplementary%20Information) This section provides details on the upcoming conference call, non-GAAP financial measures, and condensed consolidated financial statements [Conference Call Information](index=3&type=section&id=Conference%20Call%20Information) The company scheduled a conference call for August 13, 2025, at 1:00 PM ET to discuss Q2 2025 financial results, with replay options available - A conference call to discuss Q2 2025 results was scheduled for 1:00 pm ET on the day of the earnings release[16](index=16&type=chunk) - Details for participation, including phone numbers and a webcast link, were provided, and a replay will be available through August 20, 2025[17](index=17&type=chunk)[18](index=18&type=chunk) [Non-GAAP Financial Measures](index=5&type=section&id=Non-GAAP%20Financial%20Measures) Adjusted EBITDA is used as a non-GAAP measure to assess core operational performance, excluding non-recurring items, with a detailed reconciliation provided - Adjusted EBITDA is defined as net income (loss) adjusted for interest, taxes, depreciation, amortization, stock-based compensation, bargain purchase gains, and asset write-down costs[22](index=22&type=chunk) - Management uses this non-GAAP measure for period-to-period comparisons, believing it provides supplemental information on the performance of the recurring core business[23](index=23&type=chunk) Reconciliation of GAAP Net (Loss) Income to Non-GAAP Adjusted EBITDA (in US Dollars) | | Three months ended June 30, | Six months ended June 30, | | :--- | :--- | :--- | :--- | | | **2025** | **2024** | **2025** | **2024** | | **Net (loss) income** | **$(280,000)** | **$3,602,000** | **$(905,000)** | **$3,721,000** | | Adjustments | $1,981,000 | $(1,592,000) | $3,555,000 | $(133,000) | | **Adjusted EBITDA** | **$1,701,000** | **$2,010,000** | **$2,650,000** | **$3,754,000** | [Condensed Consolidated Financial Statements](index=6&type=section&id=Condensed%20Consolidated%20Financial%20Statements) This section presents unaudited condensed consolidated statements of operations and balance sheet data for the reported periods Condensed Consolidated Statements of Operations (Unaudited, in US Dollars) | | Three months ended June 30, | Six months ended June 30, | | :--- | :--- | :--- | :--- | :--- | | | **2025** | **2024** | **2025** | **2024** | | **Revenues** | $7,071,000 | $7,056,000 | $13,183,000 | $12,272,000 | | **Gross margin** | $1,630,000 | $2,468,000 | $2,572,000 | $4,611,000 | | **Operating (loss)** | $(544,000) | $(1,000) | $(1,843,000) | $(86,000) | | **Net (loss) income attributable to AMS** | $(280,000) | $3,602,000 | $(905,000) | $3,721,000 |

Core Viewpoint - American Shared Hospital Services reported a 16% sequential increase in total revenue for Q2 2025, driven by growth in treatment volumes and expansion of services [2][5]. Financial Performance - Q2 2025 revenue reached $7,071,000, a 0.2% increase compared to Q2 2024, attributed to expanded radiation therapy services [6]. - Revenue from direct patient services was $3,500,000, an 11% increase year-over-year, primarily due to acquisitions in Rhode Island and the new facility in Puebla, Mexico [6]. - The medical equipment leasing segment saw an 8% decrease in revenue to $3,571,000, impacted by lower Gamma Knife volumes and the expiration of customer contracts [7]. - Proton beam radiation therapy revenue decreased to $1,921,000 from $2,420,000 in the prior year, reflecting cyclical fluctuations [7]. Treatment Volume and Revenue Breakdown - Radiation therapy revenue for Q2 2025 was $2,541,000, up from $1,892,000 in Q2 2024, driven by the Rhode Island centers and Puebla operations [8]. - Gamma Knife revenue increased by 25% sequentially but decreased by 5% compared to Q2 2024 [5]. - LINAC revenue grew by 7% sequentially and 34% year-over-year [5]. - Proton beam radiation therapy revenue increased by 17% sequentially but decreased by 21% compared to Q2 2024 [5]. Profitability and Loss - The company reported a net loss of $280,000 or $0.04 per share for Q2 2025, compared to a net income of $3,602,000 or $0.55 per diluted share in Q2 2024 [9]. - Adjusted EBITDA for Q2 2025 was $1,701,000, down from $2,010,000 in Q2 2024 [9]. Long-term Growth Strategy - The CEO emphasized a focus on expanding the business model and operational enhancements, with expectations for growth from new installations in Mexico and recent approvals for new treatment centers in Rhode Island [4]. - The company has experienced four consecutive years of revenue growth and three years of sustained profitability, with ongoing strategic acquisitions to bolster growth potential [4]. Balance Sheet Highlights - As of June 30, 2025, cash and cash equivalents totaled $11,331,000, slightly up from $11,275,000 at the end of 2024 [14]. - Shareholders' equity was $24,481,000 or $3.78 per share, down from $25,183,000 or $3.92 per share at the end of 2024 [14].

Financial Data and Key Metrics Changes - For Q1 2025, total revenue increased by 17% to $6.1 million compared to $5.2 million in Q1 2024 [16] - Adjusted EBITDA for Q1 2025 was $949,000, down from $1.75 million in Q1 2024 due to lower procedure volume [19] - Net loss for Q1 2025 was $625,000 or $0.10 per diluted share, compared to net income of $119,000 or $0.02 per diluted share in Q1 2024 [19] Business Line Data and Key Metrics Changes - Revenue from the Direct Patient Services segment was $3.1 million for Q1 2025, a 224% increase from $963,000 in Q1 2024, driven by the Rhode Island acquisition and operations in Puebla, Mexico [16] - Revenue from the equipment leasing segment decreased to $3 million from $4.3 million in Q1 2024 [16] - Gamma Knife revenue declined by 18% to $2.1 million in Q1 2025, with a 24% decrease in procedures [17] - Proton Beam Radiation Therapy revenue decreased by 38% to $1.6 million, with a 35% decrease in treatment fractions [17] Market Data and Key Metrics Changes - The company is expanding its international business segment, with centers in Peru, Ecuador, and Puebla, Mexico, which are expected to drive growth [12] - The Rhode Island acquisition represents a significant step in expanding the company's footprint in the U.S. market [13] Company Strategy and Development Direction - The company is transitioning from a cancer treatment equipment leasing focus to a more patient-centric service model, which is expected to yield long-term growth [6] - Upcoming projects include the development of a fourth radiation therapy center in Rhode Island and the first proton beam radiation therapy facility in the state [27][28] - The company is optimistic about its growth strategy and the potential for significant shareholder value [9] Management's Comments on Operating Environment and Future Outlook - Management acknowledges fluctuations in treatment volumes but remains confident in long-term growth prospects [15] - The company is focused on building strong momentum and executing its growth strategy despite short-term challenges [27] Other Important Information - The company ended Q1 2025 with cash and cash equivalents of $11.5 million, slightly up from $11.3 million at the end of 2024 [19] - Shareholders' equity was $24.7 million or $3.82 per outstanding share, down from $25.2 million or $3.92 per share at the end of 2024 [19] Q&A Session Summary Question: Impact of lower procedure numbers and potential regulatory changes - Management believes there is minimal risk from changes in Medicaid reimbursements, as most revenue comes from private insurers and Medicare [22][24] Question: Flexibility in managing fixed costs with new center openings - Management confirmed that expanding the direct patient services segment will provide more control over activities and patient growth [25]

Financial Data and Key Metrics Changes - For Q1 2025, total revenue increased by 17% to $6.1 million compared to $5.2 million in Q1 2024 [16] - Adjusted EBITDA for Q1 2025 was $949,000, down from $1.75 million in Q1 2024 due to lower procedure volume [7][20] - Net loss for Q1 2025 was $625,000 or $0.10 per diluted share, compared to net income of $119,000 or $0.02 per diluted share in Q1 2024 [20] Business Line Data and Key Metrics Changes - Revenue from the Direct Patient Services segment was $3.1 million for Q1 2025, a 224% increase from $963,000 in Q1 2024, driven by the Rhode Island acquisition and operations in Puebla, Mexico [16][17] - Revenue from the equipment leasing segment decreased to $3 million from $4.3 million in Q1 2024 [17] - Gamma Knife revenue declined by 18% to $2.1 million, with a 24% decrease in procedures [18] - Proton Beam Radiation Therapy revenue decreased by 38% to $1.6 million, with a 35% decrease in treatment fractions [18] Market Data and Key Metrics Changes - The company has established Gamma Knife centers in Peru and Ecuador, with a new center in Puebla, Mexico, enhancing its international presence [12] - The Rhode Island acquisition represents a significant expansion in the U.S. market, with plans for a fourth radiation therapy center and the first proton beam facility in the state [13][14] Company Strategy and Development Direction - The company is transitioning from a cancer treatment equipment leasing focus to a more patient-centric service model, aiming for long-term profitable growth [6][8] - The acquisition of Rhode Island centers and international expansion are key components of the growth strategy [10][12] - Upcoming projects include a new center in Rhode Island and a joint venture for a Gamma Knife center in Guadalajara, Mexico, which is expected to generate revenue by the end of the year [12][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term growth potential despite short-term fluctuations in treatment volumes [15][28] - The company is optimistic about the impact of staffing strategies and upgraded technology on future treatment volumes and profitability [11][15] - Management does not foresee significant risks from potential changes in Medicaid reimbursement rates, as most revenue comes from private insurers and Medicare [23][24] Other Important Information - The company maintains a strong balance sheet with cash and cash equivalents of $11.5 million as of March 31, 2025 [20] - Shareholders' equity was $24.7 million, reflecting a slight decrease from the previous quarter [20] Q&A Session Summary Question: Impact of lower procedure numbers and potential regulatory changes - Management indicated that changes in Medicaid reimbursement are not expected to significantly impact the company, as most revenue is derived from private insurers and Medicare [23][24] Question: Flexibility in managing fixed costs with new center openings - Management confirmed that expanding the Direct Patient Services segment will provide more control over activities and patient growth, enhancing fixed cost absorption [25]

Revenue and Financial Performance - The Company recognized leasing revenue of approximately $2,991,000 for the three-month period ended March 31, 2025, compared to $4,253,000 for the same period in 2024, with PBRT services contributing approximately $1,642,000 and $2,649,000, respectively [97]. - Direct patient services revenues for the three-month period ended March 31, 2025, were approximately $3,121,000, a significant increase from $963,000 in the same period of 2024 [100]. - Revenues increased by $896,000 to $6,112,000 for Q1 2025 compared to $5,216,000 for Q1 2024 [107]. - Revenues from the leasing segment decreased by $1,262,000 to $2,991,000 due to lower Gamma Knife volumes and the expiration of two customer contracts [107]. - Direct patient services revenue increased by $2,158,000 to $3,121,000, primarily driven by the RI Companies following the acquisition on May 7, 2024 [107]. - Radiation therapy revenues from the acquired facilities and the Puebla facility totaled $2,374,000 for Q1 2025, compared to $0 for Q1 2024 [108]. - Total costs of revenue increased by $2,097,000 to $5,170,000 for Q1 2025 compared to $3,073,000 for Q1 2024 [113]. - Net loss attributable to American Shared Hospital Services increased by $744,000 to a loss of $625,000, or $0.10 per diluted share for Q1 2025 [123]. Assets and Liabilities - As of March 31, 2025, accounts receivable balances under ASC 606 were $6,120,000, compared to $1,882,000 as of March 31, 2024 [100]. - Working capital decreased by $4,821,000 to $11,032,000 as of March 31, 2025, compared to $15,853,000 at December 31, 2024 [125]. - The Company had cash, cash equivalents, and restricted cash of $11,491,000 as of March 31, 2025, an increase of $216,000 from December 31, 2024 [124]. - Long-term debt was $18,372,000 as of March 31, 2025, compared to $18,462,000 at December 31, 2024 [129]. - As of March 31, 2025, the Company had long-term debt of $19,926,000 on its condensed consolidated balance sheets [136]. Debt and Financing - The DFC Loan has a first tranche outstanding amount of $1,642,000 with a fixed interest rate of 3.67% and a second tranche of $1,806,000 at 7.49% [131]. - Interest expense increased by $84,000 to $433,000 for Q1 2025 due to increased borrowings [119]. - The Company is in compliance with all covenants related to the DFC Loan as amended and waived as of March 31, 2025 [133]. - The Company received a waiver and amendment from DFC for certain covenants as of December 31, 2023, and through December 31, 2024 [132]. Commitments and Obligations - Total commitments for purchasing and installing three Leksell Gamma Knife Esprit Systems and two Linear Accelerator systems amounted to $9,618,000 as of March 31, 2025 [138]. - The Company has commitments for service and maintenance of its Gamma Knife, LINAC, and PBRT equipment totaling $12,252,000 as of March 31, 2025 [140]. - The Company has an obligation to maintain a minimum fixed charge coverage ratio of 1.25 and a maximum funded debt to EBITDA ratio of 3.0 to 1.0 under the Credit Agreement [130]. Operational Developments - The Company acquired 60% of the equity interests of the RI Companies on May 7, 2024, which operate three radiation therapy facilities in Rhode Island [90]. - The Company operates ten domestic Gamma Knife units and one PBRT system in the United States as of March 31, 2025 [96]. - The Company’s facilities in Rhode Island, Peru, Ecuador, and Mexico are considered direct patient services, where contracts exist between the Company and individual patients [90]. - The approximate CMS reimbursement rates for PBRT treatments in 2025 are $578 for simple treatments and $1,276 for intermediate and complex treatments [92]. - The Company’s revenue recognition policies are based on ASC 842 and ASC 606, with revenues recognized when services are rendered and collectability is reasonably assured [96]. Related Party Transactions - The Company recorded total related party transactions of $1,558,000 for the three months ended March 31, 2025, compared to $2,586,000 for the same period in 2024 [142]. Equipment and Salvage Value - The Company has not assigned any salvage value to its PBRT or LINAC equipment as of March 31, 2025 [101].

Revenue Growth - FY 2024 revenue increased 32.9% year over year to $28.34 million, up from $21.33 million in FY 2023[5] - Revenue from direct patient services segment surged 253.4% year over year to $12.56 million, compared to $3.55 million in FY 2023[5] - Q4 2024 revenue increased 59.2% to $9.07 million compared to $5.70 million in Q4 2023, driven by expanded radiation therapy services[11] - Q4 2024 revenue from direct patient services segment was $4.75 million, a 420.2% increase from the same period last year[12] Net Income and Earnings - Net income attributable to the company for FY 2024 rose 258.4% to $2.19 million, or $0.34 per diluted share, compared to $610,000, or $0.10 per diluted share in FY 2023[9] - The overall net income for the twelve months ended December 31, 2024, was $2,186,000, compared to $610,000 in 2023, representing an increase of approximately 258.7%[28] Adjusted EBITDA - Adjusted EBITDA for FY 2024 increased 8.5% to $8.89 million from $8.19 million in FY 2023[10] - Adjusted EBITDA for the twelve months ended December 31, 2024, was $8,885,000, up from $8,189,000 in 2023, reflecting a year-over-year increase of approximately 8.5%[28] Cash and Equity - Cash, cash equivalents, and restricted cash totaled $11.28 million as of December 31, 2024, down from $13.81 million a year earlier[16] - Shareholders' equity increased to $25.18 million or $3.92 per outstanding share at December 31, 2024, compared to $22.62 million or $3.59 per share at December 31, 2023[16] Expenses and Losses - Interest expense increased to $1,499,000 for the twelve months ended December 31, 2024, compared to $1,112,000 in 2023, representing a rise of about 34.8%[28] - Depreciation and amortization expense for the three months ended December 31, 2024, was $1,673,000, an increase from $1,291,000 in the same period of 2023, showing a growth of approximately 29.6%[28] - Loss on write down of impaired assets and associated removal costs for the three months ended December 31, 2024, was $2,896,000, compared to $362,000 in the same period of 2023, indicating a substantial increase[28] Tax and Interest Income - Income tax benefit for the three months ended December 31, 2024, was $(71,000), a decrease from $338,000 in 2023, reflecting a change in tax position[28] - Interest income for the twelve months ended December 31, 2024, was $(342,000), down from $(458,000) in 2023, indicating a decrease of approximately 25.3%[28] Stock-Based Compensation and Gains - Stock-based compensation expense for the twelve months ended December 31, 2024, was $373,000, slightly down from $389,000 in 2023, showing a decrease of about 4.1%[28] - The company reported a bargain purchase gain of $(148,000) for the three months ended December 31, 2024, compared to no gain in the same period of 2023[28]

Core Viewpoint - American Shared Hospital Services reported a 17% year-over-year revenue growth for Q1 2025, driven by strategic expansion and operational strength despite lower treatment volumes and some seasonality [2][5][6]. Financial Performance - Q1 2025 revenue increased to $6.1 million from $5.2 million in Q1 2024, reflecting a 17% growth [6]. - Direct patient services revenue surged by 224% to $3.1 million, primarily due to the acquisition of Rhode Island centers and the new facility in Puebla, Mexico [5][6]. - Revenue from the medical equipment leasing segment decreased to $3.0 million from $4.3 million, attributed to lower Gamma Knife volumes and the expiration of two customer contracts [7]. - Total proton beam radiation therapy revenue fell to $1.6 million from $2.6 million due to normal cyclical fluctuations [7]. - Radiation therapy revenue reached $2.4 million for Q1 2025, compared to $0 in Q1 2024, driven by the acquisition of Rhode Island facilities and the launch in Puebla, Mexico [8]. - Gross margin for Q1 2025 was $942,000, down from $2.1 million in Q1 2024, primarily due to lower treatment volumes [8]. - The net loss attributable to the company was $625,000, or $0.10 per share, compared to a net income of $119,000, or $0.02 per diluted share, in Q1 2024 [8][10]. Operational Highlights - The company has begun to see an increase in treatment volumes in April 2025 and expects further recovery in the latter half of the year [3]. - Successful acquisition of Rhode Island radiation therapy treatment centers and the opening of a facility in Puebla, Mexico are key growth drivers [3]. - The company is exploring additional acquisition opportunities and anticipates closing on one within the fiscal year [3]. - The linear accelerator business reported $2.4 million in revenue for Q1 2025, compared to zero in Q1 2024, showcasing the effectiveness of the diversification strategy [3][5]. Balance Sheet Overview - As of March 31, 2025, cash, cash equivalents, and restricted cash totaled $11.5 million, slightly up from $11.3 million at December 31, 2024 [10]. - Shareholders' equity (excluding non-controlling interests) was $24.6 million, or $3.82 per outstanding share, down from $25.2 million, or $3.92 per share at the end of 2024 [10][18].

Core Viewpoint - American Shared Hospital Services reported a 17% year-over-year revenue growth for Q1 2025, driven by strategic expansions and operational strengths despite some declines in treatment volumes [4][6]. Financial Performance - Revenue for Q1 2025 was $6.1 million, up from $5.2 million in Q1 2024, primarily due to expanded radiation therapy services [4][6]. - Direct patient services revenue surged by 224% to $3.1 million, attributed to the acquisition of Rhode Island centers and the new facility in Puebla, Mexico [4][6]. - Revenue from the medical equipment leasing segment decreased to $3.0 million from $4.3 million, influenced by lower Gamma Knife volumes and contract expirations [5][6]. Operational Highlights - The company experienced a gross margin of $942,000 in Q1 2025, down from $2.1 million in Q1 2024, mainly due to lower treatment volumes [7]. - A net loss of $625,000 was reported for Q1 2025, compared to a net income of $119,000 in the same period last year [7][16]. - Adjusted EBITDA for Q1 2025 was $0.9 million, a decrease from $1.7 million in Q1 2024 [8][18]. Strategic Initiatives - The company is optimistic about future growth, with plans for further acquisitions and operational efficiencies to enhance profitability [3][6]. - New facilities in Rhode Island and Mexico are expected to contribute to long-term growth, with a focus on expanding direct patient care services [3][4]. Balance Sheet Overview - As of March 31, 2025, cash and cash equivalents totaled $11.5 million, slightly up from $11.3 million at the end of 2024 [9][17]. - Shareholders' equity was reported at $24.6 million, down from $25.2 million at the end of the previous year [9][17].

Core Viewpoint - American Shared Hospital Services (AMS) is set to discuss its first quarter 2025 financial results in a conference call scheduled for May 15, 2025, at 12:00 pm ET [1]. Financial Results Announcement - The financial results press release for the first quarter of 2025 will be issued before the market opens on May 15, 2025 [2]. Teleconference and Webcast Information - Domestic callers can join the call by dialing 1-844-413-3972, while international callers can dial 1-412-317-5776, at least 10 minutes prior to the start [3] - A simultaneous webcast will be available on the company's website [3] - A replay of the call will be accessible until May 22, 2025, through specified phone numbers and the company's website [3] Company Overview - AMS is a leading provider of turnkey solutions for cancer treatment centers, health systems, and cancer networks in North and South America [4] - The company collaborates with partners to enhance cancer service lines and provide integrated care close to patients' homes [4] - AMS shares capital investment costs and profitability with health system partners based on ownership interests [4]