American Shared Hospital Services(US:AMS)2025-05-15 17:02Financial 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 [19] - 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 [19] 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] - Revenue from the equipment leasing segment decreased to $3 million from $4.3 million in Q1 2024 [16] - Gamma Knife revenue declined by 18% to $2.1 million in Q1 2025, with a 24% decrease in procedures [17] - Proton Beam Radiation Therapy revenue decreased by 38% to $1.6 million, with a 35% decrease in treatment fractions [17] Market Data and Key Metrics Changes - The company is expanding its international business segment, with centers in Peru, Ecuador, and Puebla, Mexico, which are expected to drive growth [12] - The Rhode Island acquisition represents a significant step in expanding the company's footprint in the U.S. market [13] Company Strategy and Development Direction - The company is transitioning from a cancer treatment equipment leasing focus to a more patient-centric service model, which is expected to yield long-term growth [6] - Upcoming projects include the development of a fourth radiation therapy center in Rhode Island and the first proton beam radiation therapy facility in the state [27][28] - The company is optimistic about its growth strategy and the potential for significant shareholder value [9] Management's Comments on Operating Environment and Future Outlook - Management acknowledges fluctuations in treatment volumes but remains confident in long-term growth prospects [15] - The company is focused on building strong momentum and executing its growth strategy despite short-term challenges [27] Other Important Information - The company ended Q1 2025 with cash and cash equivalents of $11.5 million, slightly up from $11.3 million at the end of 2024 [19] - Shareholders' equity was $24.7 million or $3.82 per outstanding share, down from $25.2 million or $3.92 per share at the end of 2024 [19] Q&A Session Summary Question: Impact of lower procedure numbers and potential regulatory changes - Management believes there is minimal risk from changes in Medicaid reimbursements, as most revenue comes from private insurers and Medicare [22][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 [25]