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American Shared Hospital Services(AMS) - 2025 Q1 - Quarterly Results

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]