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 [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]

Financial Data and Key Metrics Changes - Revenue for fiscal year 2024 totaled $28.34 million, an increase of 32.9% from fiscal year 2023 [2] - Adjusted EBITDA for fiscal year 2024 was $8.9 million, an 8.9% increase year over year [2][18] - Fourth quarter 2024 revenue increased by 59.2% to $9.1 million compared to $5.7 million in Q4 2023 [18] - Net income for fiscal year 2024 increased by 258% to $2.2 million, or $0.33 per diluted share [17] Business Line Data and Key Metrics Changes - Revenue from direct patient services segment was $12.6 million for fiscal year 2024, a 253% increase from $3.4 million in fiscal year 2023 [13][14] - Revenue from the equipment leasing segment decreased to $15.6 million from $17.8 million in fiscal year 2023 [14] - Gamma Knife revenue declined by 11.6% to $9.7 million for fiscal year 2024 [14] - Proton beam therapy revenue decreased by 1.8% to $10 million in fiscal year 2024 [15] Market Data and Key Metrics Changes - The company has established its first direct patient services cancer treatment centers in the U.S. with the acquisition of three centers in Rhode Island [11] - The international business segment is expected to see continued growth, particularly in Ecuador and the newly opened center in Puebla, Mexico [9][10] Company Strategy and Development Direction - The company is transitioning from a cancer treatment equipment leasing focus to a more patient-centric service model [1] - Strategic initiatives include expanding the footprint in Rhode Island and establishing new treatment centers in Mexico [10][11] - The company has received CON approval to build a fourth radiation therapy center and the first proton beam therapy center in Rhode Island [11][40] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth strategy and the ability to navigate industry challenges [39][40] - The recent acquisition and operational efficiencies are expected to enhance service quality and accessibility [39] - Management anticipates stronger international growth and increased treatment volumes in the coming years [10][12] Other Important Information - The company ended the year with cash and cash equivalents of $11.3 million, down from $13.8 million at the end of 2023 [25] - Shareholders' equity increased to $25.2 million, or $3.92 per outstanding share, compared to $22.6 million, or $3.59 per outstanding share, at the end of 2023 [25] Q&A Session Summary Question: Benefits of expanding footprint in Rhode Island - The expansion in Rhode Island is expected to create synergies with Brown University Health and other healthcare systems, enhancing cancer care provision [32][33]