American Shared Hospital Services (NYSE:AMS) Q4 2021 Earnings Conference Call March 24, 2022 4:00 PM ET CompanyParticipants Stephanie Prince - Investor Relations-PCG Advisory Alexis Wallace - Chief Accounting Officer Craig Tagawa - President, Chief Operating Officer & Chief Financial Officer Ray Stachowiak - Chief Executive Officer Conference Call Participants Operator Good day and welcome to the American Shared Hospital Services Fourth Quarter and Year End 2021 Earnings Conference Call. All participants wi ...

Financial Data and Key Metrics Changes - Total revenue increased by 12% year-over-year to $4.476 million in Q2 2021 compared to $3.991 million in Q2 2020 [10][14] - Net income rose to $157,000 in Q2 2021 from a net loss of $483,000 in Q2 2020, marking a significant turnaround [7][16] - Gross margin improved to 35.9% of revenue, up from 22.7% in the same quarter last year, with gross margin dollars increasing by 77% to $1.607 million [11][15] Business Line Data and Key Metrics Changes - Revenue from the proton therapy system at Orlando Health increased by 10.6% to $1.549 million, despite a 17.9% decrease in total proton therapy fractions [10][14] - Gamma Knife revenue increased by 13% to $2.927 million, with procedures rising by 7.4% to 376 [10][15] - Selling and administrative costs decreased by 10% to $1.090 million, contributing to improved operating income of $352,000 compared to an operating loss of $570,000 in Q2 2020 [12][16] Market Data and Key Metrics Changes - The company reported a cash balance of $8.4 million at the end of Q2 2021, up from $4.325 million at the end of 2020, indicating improved liquidity [17] - The establishment of a $22 million credit agreement with Fifth Third Bank, which includes a $7 million revolving line of credit, enhances financial flexibility for future projects [8][9] Company Strategy and Development Direction - The company is focused on expanding its radiation therapy equipment offerings and has several projects in the pipeline, including upgrades at Gamma Knife Center Ecuador [13] - Management emphasized the importance of maintaining a positive working capital position and leveraging financial resources for future business opportunities [9][31] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's future, highlighting a positive trend in net income and increased cash reserves for investment [30][31] - The ongoing impact of the pandemic on hospital systems has been acknowledged, but management remains optimistic about future growth opportunities in radiation therapy [27][30] Other Important Information - The company completed two Cobalt-60 reloads in the first half of 2021 and is planning additional reloads based on executed contract extensions [12][13] - Shareholders' equity at June 30, 2021, was $23.714 million, slightly up from $23.650 million at the end of 2020 [17] Q&A Session Summary Question: Progress on reducing high overhead office space - Management acknowledged ongoing efforts to reduce office space costs but noted challenges due to decreased demand for office space [20][23] Question: Leads on new machinery sales - Management confirmed that there have been new leads for machinery sales and are actively pursuing these opportunities [25] Question: Pursuit of proton beam placements - Management stated that they continue to explore opportunities for proton beam placements, although such opportunities have been limited due to the pandemic [27] Question: Plans for investor exposure and road shows - Management indicated a potential for increased investor exposure and expressed a positive outlook on the company's fortunes, which may attract more interest from retail investors [30][31]

American Shared Hospital Services (NYSE:AMS) Q1 2021 Earnings Conference Call May 13, 2021 1:00 PM ET Company Participants Stephanie Prince – Investor Relations-PCG Advisory Ray Stachowiak – Chief Executive Officer Craig Tagawa – President, Chief Operating Officer and Chief Financial Officer Alexis Wallace – Chief Accounting Officer Conference Call Participants Lenny Dunn – Mutual Trust Company Operator Good day, and welcome to the American Shared Hospital Services First Quarter 2021 Earnings Conference Cal ...

Revenue Performance - The Company recognized revenues of approximately $4,364,000 for the three-month period ended March 31, 2021, a decrease of $204,000 compared to $4,568,000 for the same period in the prior year[64]. - Revenues from the PBRT system decreased by $145,000 to $1,531,000 for the three-month period ended March 31, 2021, primarily due to lower fractions resulting from the COVID-19 pandemic[65]. - Gamma Knife revenues remained stable at $2,892,000 for the three-month periods ended March 31, 2021 and 2020, despite a decrease in procedures offset by an increase in average reimbursement[66]. - The COVID-19 pandemic has significantly impacted business activity, leading to delays in Gamma Knife procedures and PBRT treatments, affecting overall revenue generation[63]. Procedure Statistics - The number of PBRT fractions decreased by 445 to 1,231 for the three-month period ended March 31, 2021 compared to 1,676 for the same period in the prior year[65]. - The number of Gamma Knife procedures decreased by 21 to 355 for the three-month period ended March 31, 2021 compared to 376 for the same period in the prior year[66]. Cost and Income Analysis - Total costs of revenue decreased by $244,000 to $2,930,000 for the three-month period ended March 31, 2021 compared to $3,174,000 for the same period in the prior year[67]. - Depreciation and amortization decreased by $449,000 to $1,198,000 for the three-month period ended March 31, 2021 compared to $1,647,000 for the same period in the prior year[68]. - Net income increased by $164,000 to $29,000, or $0.00 per diluted share for the three-month period ended March 31, 2021 compared to a net loss of $135,000, or $0.02 per diluted share for the same period in the prior year[71]. Financial Position - As of March 31, 2021, the Company had cash, cash equivalents, and restricted cash of $5,013,000, an increase of $688,000 from $4,325,000 at December 31, 2020, primarily due to cash from operating activities of $2,783,000[73]. - As of March 31, 2021, the Company had shareholders' equity of $23,844,000, working capital of $4,163,000, and total assets of $44,047,000[74]. Debt and Commitments - The Company has scheduled interest and principal payments under its debt obligations of approximately $1,209,000 during the next 12 months[73]. - The Company has commitments to purchase two MEVION S250i PBRT systems for $34,000,000, with delivery required no later than 2023[76]. - Total Gamma Knife and LINAC commitments as of March 31, 2021 were $10,860,000, with upgrades expected to occur between 2022 and 2023[77]. - The Company has a commitment from DFC to finance the upgrade of the Gamma Knife unit in Ecuador, expected in Q3 2021[77]. - Total service commitments as of March 31, 2021 were $10,272,000, with cash flow from operations expected to cover these payments[79]. Financial Instruments - The Company does not hold or issue derivative instruments for trading purposes and has no exposure to off-balance sheet financial transactions[81].

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 September 30, 2020 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 (Exa ...