Core Insights - American Shared Hospital Services reported a strong revenue growth of 32.9% for FY 2024, reaching 21.33 million in FY 2023, driven by strategic expansions and operational efficiencies [4][6][8] - The company has transitioned from a traditional leasing model to a direct provider of radiation therapy services, which aligns with its long-term growth strategy focused on increasing patient volumes [3][4][8] - Gary Delanois has been appointed as the new CEO, indicating a shift in leadership as the company enters a new growth phase [3][4] Financial Performance - For FY 2024, revenue from direct patient services surged by 253.4% to 15.63 million [4][11] - Gross margin for FY 2024 was 9.34 million in FY 2023, primarily due to higher operating costs in the direct patient services segment [6][8] - Net income attributable to the company increased by 258.4% to 0.34 per diluted share, compared to 9.07 million compared to 4.75 million, a significant increase of 420.2% from the same period last year [11][12] - Adjusted EBITDA for Q4 2024 rose by 29.3% to 2.68 million in Q4 2023 [14][27] Balance Sheet Overview - As of December 31, 2024, cash and cash equivalents totaled 13.81 million a year earlier [15][25] - Shareholders' equity increased to 3.92 per outstanding share, compared to 3.59 per share at the end of 2023 [15][25] - Total assets grew to 48.16 million in the previous year, reflecting the company's expansion efforts [25]
American Shared Hospital Services Reports Fourth Quarter and Strong Full Year 2024 Financial Results