Revenue Performance - Total revenue for Q3 2024 was $6,999,000, representing a 36.3% increase compared to Q3 2023[2] - Revenue from direct patient services ("retail") segment reached $3,687,000, a significant increase of 273.2% year-over-year[3] - Revenue from medical equipment leasing segment was $3,312,000, reflecting a decrease of 16.1% compared to the prior year[4] - Proton beam radiation therapy revenue increased by 4.4% to $2,316,000, with treatments rising by 5.4%[11] - Gamma Knife revenue decreased by 32.9% to $1,821,000, with procedures down by 31.0%[12] - For the first nine months of 2024, total revenue increased by 23.3% to $19,271,000 compared to $15,627,000 in the same period of 2023[17] - Revenues for the three months ended September 30, 2024, were $6,999,000, a 36.4% increase from $5,134,000 for the same period in 2023[29] Profitability and Loss - Gross margin decreased to $1,370,000, with a gross margin percentage of 19.6%, down from 40.9% in the previous year[5] - Net loss for Q3 2024 was $207,000, or ($0.03) per diluted share, compared to net income of $118,000, or $0.02 per diluted share in Q3 2023[6] - Adjusted EBITDA for Q3 2024 was $1,366,000, down from $1,669,000 in Q3 2023[6] - Gross margin decreased to $1,370,000 for the three months ended September 30, 2024, compared to $2,102,000 in the prior year, reflecting a decline of 34.8%[29] - Adjusted EBITDA for the three months ended September 30, 2024, was $1,366,000, down 18.1% from $1,669,000 in the same period of 2023[30] - Net loss attributable to American Shared Hospital Services was $207,000 for the three months ended September 30, 2024, compared to a net income of $118,000 in the prior year[29] Financial Position - Cash at September 30, 2024, was $14,077,000, compared to $13,808,000 at December 31, 2023[21] - Total assets increased to $63,269,000 as of September 30, 2024, up from $48,162,000 at the end of 2023, representing a growth of 31.4%[29] - Current liabilities rose to $17,561,000 as of September 30, 2024, compared to $10,779,000 at the end of 2023, indicating a 62.5% increase[29] - Cash and cash equivalents increased to $14,077,000 as of September 30, 2024, compared to $13,808,000 at the end of 2023, a growth of 1.9%[29] Expenses - Selling and administrative expenses were $1,923,000 for the three months ended September 30, 2024, compared to $1,735,000 in the same period of 2023, an increase of 10.8%[29] - Interest expense for the three months ended September 30, 2024, was $336,000, up from $277,000 in the prior year, reflecting a rise of 21.3%[29] Other Financial Metrics - The company reported a bargain purchase gain of $263,000 for the three months ended September 30, 2024, compared to a gain of $0 in the same period of 2023[29]

Core Insights - American Shared Hospital Services reported a revenue increase of 36.3% year-over-year for Q3 2024, reaching $6,999,000, driven by the acquisition of Rhode Island radiation therapy facilities and a new facility in Puebla, Mexico [2][4][6] Financial Performance - Total revenue for Q3 2024 was $6,999,000, up from $5,134,000 in Q3 2023 [6] - Revenue from direct patient services ("retail") surged 273.2% to $3,687,000, primarily due to the new Rhode Island and Puebla facilities [2][7] - Medical equipment leasing revenue decreased by 16.1% to $3,312,000, attributed to lower Gamma Knife treatment volumes [2][8] - Proton beam radiation therapy revenue increased by 4.4% to $2,316,000, with treatment volumes rising by 5.4% [9] - Gamma Knife operations revenue fell by 32.9% to $1,821,000, with procedures down 31.0% due to contract expirations and equipment downtime [10] - Gross margin decreased to $1,370,000, representing 19.6% of revenue, down from 40.9% in the previous year [2][4] - Operating income turned to a loss of $889,000 compared to an income of $90,000 in Q3 2023, mainly due to increased operating costs [12] - Net loss for Q3 2024 was $207,000, or ($0.03) per diluted share, compared to a net income of $118,000, or $0.02 per diluted share, in Q3 2023 [14] - Adjusted EBITDA for Q3 2024 was $1,366,000, down from $1,669,000 in Q3 2023 [15] Balance Sheet Highlights - Cash and cash equivalents as of September 30, 2024, were $14,077,000, an increase from $13,808,000 at the end of 2023 [3][21] - Shareholders' equity increased to $26,423,000 as of September 30, 2024, compared to $22,624,000 at the end of 2023 [21] Strategic Outlook - The company is focused on long-term growth strategies, including improving operational efficiencies and expanding its product portfolio [4][5] - The CEO expressed confidence in the company's growth trajectory, supported by a strong balance sheet and increasing sales pipeline [5]

Core Points - American Shared Hospital Services (AMS) will hold a conference call to discuss its third quarter 2024 financial results on November 13, 2024, at 1:00 PM ET [1] - The financial results press release will be issued before the market opens on the same day [1] Company Overview - AMS is a leading provider of turnkey technology solutions for stereotactic radiosurgery and advanced radiation therapy equipment and services [1] - The company collaborates with major global Original Equipment Manufacturers (OEMs) to provide clinical treatment systems and software for cancer treatment [4] - AMS offers a range of products including MR Guided Radiation Therapy Linacs, Advanced Digital Linear Accelerators, Proton Beam Radiation Therapy Systems, and Brachytherapy systems [4]

Core Insights - American Shared Hospital Services (AMS) has appointed Gary Delanois as Chief Operating Officer, bringing extensive experience in radiation oncology services management [1][2] - Ranjit Pradhan has been promoted to Senior Vice President of Sales and Marketing, having successfully renewed and expanded five Gamma Knife agreements in the past 18 months [1][2] Company Leadership Changes - Gary Delanois has 28 years of healthcare management experience, with a strong track record in operating performance and relationship building with physicians and partners [2][3] - Prior to joining AMS, Delanois served as CFO for a major primary care provider and held senior operational roles at 21st Century Oncology [3][4] - Ranjit Pradhan will lead strategic marketing initiatives and drive growth in new business, leveraging his extensive experience in global healthcare markets [5] Company Overview - AMS is a leading provider of technology solutions for cancer treatment, working with major global Original Equipment Manufacturers (OEMs) [6][7] - The company offers a range of products including MR Guided Radiation Therapy, Advanced Digital Linear Accelerators, and Proton Beam Radiation Therapy Systems [7]

Financial Data and Key Metrics Changes - Total revenue for Q2 2024 was $7.1 million, a year-over-year increase of 27% from $5.7 million in Q2 2023 [11][14] - Net income attributable to the company was $3.6 million or $0.55 per diluted share, compared to a net loss of $111,000 or $0.02 per diluted share in Q2 2023 [17] - Adjusted EBITDA for Q2 2024 was $2 million, slightly up from $1.9 million in Q2 2023 [18] Business Line Data and Key Metrics Changes - Revenue from the leasing segment was $3.9 million, a decrease of 19% compared to $4.81 million in the prior year [14] - Revenue from the retail segment surged to $3.16 million, marking a 318% increase from $756,000 in the year-ago quarter, driven by the Rhode Island acquisition and increased volumes [14] - Proton therapy revenue decreased by 5% to $2.42 million, while total proton therapy fractions fell by 10% [15] Market Data and Key Metrics Changes - International retail results showed growth, particularly in Ecuador and Peru, with the upgrade of equipment contributing to increased volumes [9] - The Gamma Knife procedures revenue decreased by 9% to $2.74 million, but excluding expired contracts, procedures increased by 24% [15] Company Strategy and Development Direction - The company is focusing on expanding its retail segment, as evidenced by the Rhode Island acquisition and new centers in Mexico [9][23] - Plans include building a proton beam radiation therapy center in Rhode Island, which would be the only system between New York City and Boston [10] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, highlighting the strong performance in Q2 and the strategic acquisition in Rhode Island [7][32] - The company anticipates stronger international growth and additional revenue streams from new centers and acquisitions [12][32] Other Important Information - The company ended Q2 2024 with over $14.5 million in cash, approximately $2.24 per share [12] - Shareholders' equity increased to $26.5 million or $4.17 per share at the end of Q2 2024, up from $22.6 million or $3.59 per share at the end of 2023 [20] Q&A Session Summary Question: Confirmation on growth opportunities in direct business and potential service interruptions at Sacred Heart - Management confirmed focus on both leasing and retail segments, with a stronger emphasis on retail opportunities [23] Question: Clarification on the timing of the Rhode Island acquisition - Management confirmed that the acquisition concluded in early May, thus not reflecting a full three months in the reported quarter [25] Question: Insights from the direct relationship and updates on the proton beam project - Management noted delays in the CON application process but expressed confidence in the outcome and highlighted ongoing learning from the new operations [27][28] Question: Marketing strategies for Rhode Island centers and sales pipeline updates - Management indicated a robust sales pipeline and ongoing market engagement to identify new opportunities [30]

Financial Performance - Total revenue for Q2 2024 was $7.1 million, a 27% increase year-over-year, driven by the acquisition of Rhode Island facilities which contributed $1.9 million to the revenue growth[1][5] - Net income for Q2 2024 was $3.6 million, or $0.55 per diluted share, compared to a net loss of $111,000, or $0.02 per diluted share in Q2 2023, primarily due to a $3.7 million bargain purchase gain from the Rhode Island acquisition[2][9] - Adjusted EBITDA for Q2 2024 was $2,010,000, up from $1,938,000 in Q2 2023, reflecting contributions from the newly acquired Rhode Island facilities[3][9] - Revenues for the three months ended June 30, 2024, increased to $7,056,000, up 27% from $5,568,000 in the same period last year[21] - Net income attributable to American Shared Hospital Services for the three months ended June 30, 2024, was $3,602,000, compared to a net loss of $111,000 in the same period last year[21] - Basic earnings per share for the three months ended June 30, 2024, was $0.56, compared to a loss of $0.02 in the same period last year[21] Cash and Assets - Cash and cash equivalents at June 30, 2024, were $14.5 million, an increase from $13.8 million at December 31, 2023[3][12] - Total assets as of June 30, 2024, increased to $60,825,000, up from $48,162,000 as of December 31, 2023[22] - Cash and cash equivalents as of June 30, 2024, were $14,486,000, compared to $13,808,000 as of December 31, 2023[22] Revenue Segments - Revenue from the retail segment increased by 318% to $3,157,000 in Q2 2024, compared to $756,000 in the same period last year, attributed to the Rhode Island acquisition and increased patient volumes[5][6] - Proton beam radiation therapy revenue decreased by 5% to $2.4 million in Q2 2024, with a 10% decline in therapy fractions compared to the same period last year[6][8] Operational Metrics - Total Gamma Knife procedures increased by 10% to 340 in Q2 2024, compared to 309 in Q2 2023, despite a 9% decrease in overall Gamma Knife revenue due to contract expirations[6][7] - Gross margin for Q2 2024 was $2.5 million, or 35% of revenue, down from 45% in the prior year, reflecting the expansion in the retail segment[2][7] - Gross margin for the six months ended June 30, 2024, was $4,611,000, representing a 4% increase compared to $4,426,000 for the same period in 2023[21] Liabilities and Expenses - Current liabilities as of June 30, 2024, were $13,336,000, compared to $10,779,000 as of December 31, 2023[22] - Interest expense for the three months ended June 30, 2024, was $385,000, an increase from $277,000 in the same period last year[21] Strategic Developments - The company signed a joint venture agreement for a Gamma Knife facility in Guadalajara, Mexico, marking its fourth international center[4] - The company reported a bargain purchase gain of $3,679,000 for the three months ended June 30, 2024[21]

Revenue increases 27% year over yearReports gain of $3.7 million from strategic acquisition of Rhode Island Radiation Therapy Cancer Centers Now treating patients at the new Puebla, Mexico center Conference Call on August 14th at 6:30 pm ET SAN FRANCISCO, Aug. 14, 2024 (GLOBE NEWSWIRE) -- American Shared Hospital Services (NYSE American: AMS) (the "Company"), a leading provider of turnkey technology solutions for stereotactic radiosurgery and advanced radiation therapy cancer treatment systems and services ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________. Commission file number 001-08789 American Shared Hospital Services (Exact name of registrant as specified in its charter) Cal ...

American Shared Hospital Services Announces Second Quarter 2024 Earnings Conference Call Call Scheduled for Today at 6:30 PM ETSAN FRANCISCO, August 14, 2024 – American Shared Hospital Services (NYSE American: AMS) (the “Company”), a leading provider of turnkey technology solutions for stereotactic radiosurgery and advanced radiation therapy equipment and services, today announced that the Company will hold a conference call to discuss its second quarter 2024 financial results today, August 14th at 6:30 pm ...

American Shared Hospital Services Announces Start of Patient Treatments at its Radiation Therapy Facility, A.B. Radiocirugía y Radioterapia de Puebla, in Puebla, Mexico SAN FRANCISCO, CA, August 6, 2024 ‒ American Shared Hospital Services (NYSE American: AMS) (the “Company”), a leading provider of turnkey technology solutions for stereotactic radiosurgery and advanced radiation therapy equipment and services, today announced that it has begun treating patients at its Radiation Therapy Facility, A.B. Radioc ...