American Shared Hospital Services Reports Second Quarter 2025 Financial Results
American Shared Hospital Services (NYSE American: AMS) reported Q2 2025 financial results, with total revenue increasing 16% sequentially to $7.07 million, a slight 0.2% increase year-over-year. The company's direct patient services segment grew 11% year-over-year to $3.5 million, while medical equipment leasing revenue declined 8% to $3.57 million.
Q2 2025 resulted in a net loss of $280,000 ($0.04 per share), compared to net income of $3.6 million in Q2 2024, which included a one-time gain. Adjusted EBITDA was $1.7 million, down from $2.01 million in Q2 2024. The company maintains a strong balance sheet with $11.33 million in cash and shareholders' equity of $24.48 million ($3.78 per share).
Strategic expansion continues with a new Esprit installation in Guadalajara, Mexico, and Certificate of Need approvals for radiation therapy centers in Rhode Island.
American Shared Hospital Services (NYSE American: AMS) ha comunicato i risultati finanziari del 2° trimestre 2025: i ricavi totali sono aumentati del 16% sequenziale, raggiungendo $7,07 million, con un lieve incremento annuo dello 0,2%. Il segmento dei servizi diretti al paziente è cresciuto dell'11% rispetto all'anno precedente arrivando a $3,5 million, mentre i ricavi da noleggio di attrezzature mediche sono diminuiti dell'8% a $3,57 million.
Il 2° trimestre 2025 si è chiuso con una perdita netta di $280.000 (0,04$ per azione), rispetto a un utile netto di $3,6 million nel 2° trimestre 2024, che includeva una plusvalenza una tantum. L'EBITDA rettificato è stato di $1,7 million, in calo rispetto a $2,01 million nel Q2 2024. La società mantiene un solido bilancio con $11,33 million in liquidità e un patrimonio netto di $24,48 million (3,78$ per azione).
Prosegue l'espansione strategica con una nuova installazione Esprit a Guadalajara, Messico, e l'approvazione dei Certificate of Need per centri di radioterapia nel Rhode Island.
American Shared Hospital Services (NYSE American: AMS) informó resultados financieros del 2T 2025, con ingresos totales que aumentaron un 16% secuencial hasta $7,07 million, y un leve incremento interanual del 0,2%. El segmento de servicios directos al paciente creció un 11% interanual hasta $3,5 million, mientras que los ingresos por arrendamiento de equipos médicos cayeron un 8% hasta $3,57 million.
El 2T 2025 registró una pérdida neta de $280.000 (0,04$ por acción), frente a un beneficio neto de $3,6 million en el 2T 2024, que incluyó una ganancia extraordinaria. El EBITDA ajustado fue de $1,7 million, por debajo de $2,01 million en el 2T 2024. La compañía mantiene un balance sólido con $11,33 million en efectivo y un patrimonio neto de $24,48 million (3,78$ por acción).
La expansión estratégica continúa con una nueva instalación Esprit en Guadalajara, México, y aprobaciones de Certificate of Need para centros de radioterapia en Rhode Island.
American Shared Hospital Services (NYSE American: AMS)는 2025년 2분기 실적을 발표했습니다. 총수익은 전분기 대비 16% 증가한 $7.07 million로, 전년 동기 대비로는 0.2% 소폭 증가했습니다. 직접 환자 서비스 부문은 전년 대비 11% 증가한 $3.5 million였고, 의료 장비 임대 수익은 8% 감소한 $3.57 million였습니다.
2025년 2분기에는 순손실 $280,000 (주당 $0.04)을 기록했으며, 이는 일회성 이익이 포함된 2024년 2분기의 순이익 $3.6 million과 대비됩니다. 조정 EBITDA는 $1.7 million로, 2024년 2분기의 $2.01 million에서 감소했습니다. 회사는 $11.33 million의 현금과 자본총계 $24.48 million(주당 $3.78)로 견조한 재무구조를 유지하고 있습니다.
전략적 확장은 계속되어 멕시코 과달라하라에 새로운 Esprit 설치를 진행했으며, 로드아일랜드의 방사선 치료 센터에 대한 Certificate of Need 승인도 받았습니다.
American Shared Hospital Services (NYSE American: AMS) a publié ses résultats du 2T 2025 : le chiffre d'affaires total a augmenté de 16% en séquentiel pour atteindre $7,07 million, soit une hausse annuelle légère de 0,2%. Le segment des services directs aux patients a progressé de 11% sur un an à $3,5 million, tandis que les revenus de location d'équipements médicaux ont diminué de 8% à $3,57 million.
Le 2T 2025 s'est soldé par une perte nette de $280.000 (0,04$ par action), contre un bénéfice net de $3,6 million au 2T 2024, qui incluait un gain exceptionnel. L'EBITDA ajusté s'établit à $1,7 million, en baisse par rapport à $2,01 million au 2T 2024. La société dispose d'un bilan solide avec $11,33 million en trésorerie et des capitaux propres de $24,48 million (3,78$ par action).
L'expansion stratégique se poursuit avec une nouvelle installation Esprit à Guadalajara, au Mexique, et des approbations de Certificate of Need pour des centres de radiothérapie dans le Rhode Island.
American Shared Hospital Services (NYSE American: AMS) meldete die Finanzergebnisse für Q2 2025: Die Umsatzerlöse stiegen quartalsübergreifend um 16% auf $7,07 million, ein leichter Anstieg von 0,2% gegenüber dem Vorjahr. Das Segment Direkte Patientenleistungen wuchs jahresübergreifend um 11% auf $3,5 million, während die Erlöse aus dem Leasing von medizinischer Ausrüstung um 8% auf $3,57 million sanken.
Im Q2 2025 erzielte das Unternehmen einen Nettoverlust von $280.000 (0,04$ je Aktie), gegenüber einem Nettogewinn von $3,6 million im Q2 2024, der einen einmaligen Ertrag enthielt. Das bereinigte EBITDA betrug $1,7 million und lag damit unter $2,01 million im Q2 2024. Die Bilanz bleibt solide mit $11,33 million in bar und einem Eigenkapital von $24,48 million (3,78$ je Aktie).
Die strategische Expansion geht weiter: Neue Esprit-Installation in Guadalajara, Mexiko, sowie Genehmigungen (Certificate of Need) für Strahlentherapiezentren in Rhode Island.
- Revenue increased 16% sequentially in Q2 2025
- Direct patient services segment revenue grew 11% year-over-year
- LINAC revenue increased 34% year-over-year
- Successful expansion with new facilities in Rhode Island and Mexico
- Strong cash position of $11.33 million
- Certificate of Need approvals for new treatment centers in Rhode Island
- Net loss of $280,000 in Q2 2025 versus profit in Q2 2024
- Medical equipment leasing revenue declined 8% year-over-year
- Proton beam radiation therapy revenue decreased 21% year-over-year
- Gross margin declined to $1.63M from $2.47M in Q2 2024
- Loss of three customer contracts in Gamma Knife segment
Insights
AMS reports mixed Q2 results with 16% sequential revenue growth but swung to net loss despite expansion efforts.
American Shared Hospital Services delivered mixed results in Q2 2025, with total revenue of
However, concerning trends emerged in the medical equipment leasing segment, which declined
The most significant concern is the company's profitability. AMS swung from a
The company's growth strategy centers on geographic expansion, with plans for a new Esprit installation in Guadalajara, Mexico expected to come online later in 2025, and Certificate of Need approvals for radiation therapy centers in Rhode Island. While management expresses optimism about long-term growth, the current financial trajectory suggests challenges in maintaining the "three years of sustained profitability" highlighted in the release.
AMS maintains a solid balance sheet with
Total Revenue Increased
Conference Call Scheduled for 1:00 PM ET Today
SAN FRANCISCO, Aug. 13, 2025 (GLOBE NEWSWIRE) -- American Shared Hospital Services (NYSE American: AMS) (the "Company"), a leading provider of stereotactic radiosurgery equipment and advanced radiation therapy cancer treatment services through its leasing and direct patient care services segments, today announced financial results for the second quarter ended June 30, 2025.
Key Financial Highlights
- Q2 2025 Revenue Increased
16% Sequentially Compared to Q1 2025 and Increased0.2% Compared to Q2 2024 - Q2 2025 Gamma Knife Revenue Increased
25% Sequentially and Decreased5% Compared to Q2 2024 - Q2 2025 LINAC Revenue Increased
7% Sequentially and Increased34% Compared to Q2 2024 - Q2 2025 Proton Beam Radiation Therapy Revenue Increased
17% Sequentially and Decreased21% Compared to Q2 2024
Gary Delanois, Chief Executive Officer commented, “I am pleased to see patient volumes increased compared to last quarter and we remain laser focused on expanding our business model and operational enhancements to further position us for robust long-term growth. As we look into the second half of this year, we expect further long-term growth from the new Esprit being installed in Guadalajara, Mexico that is expected to startup in late 2025. Additionally, our recent Certificate of Need approvals for the first radiation therapy treatment center in Bristol, Rhode Island and a proton beam radiation therapy treatment center in Johnston, Rhode Island, also put us on track to further expand our Rhode Island footprint and growth potential. As we stay focused on targeted strategic initiatives to further improve efficiency and to take advantage of economies of scale to maximize profitability, our new business development pipeline, and strong balance sheet strengthens our position for our next phase of growth.”
Scott Frech, Chief Financial Officer, stated: “Our second quarter of 2025 was highlighted by an increase in treatment volumes compared to last quarter and we continue to expect to see further recovery into the back half of this year. We are enthused by the positive momentum building as our growth strategy takes hold as we focus beyond our traditional leasing model to a direct provider of radiation therapy treatment services to cancer patients. Our linear accelerator business growth is a shining example of the strength of our diversification strategy where we reported
Ray Stachowiak, Executive Chairman of American Shared Hospital Services, stated: “We are proud to highlight the past four years of consecutive revenue growth and the past three years of sustained profitability, as we remain focused on building long-term shareholder value. Our successful acquisition of a majority interest in three Rhode Island radiation therapy treatment centers and the opening of our new Puebla, Mexico center highlight the recent strength of our growth strategy. We also continue to pursue additional strategic tuck in acquisitions to further bolster out footprint and growth potential. Our long-term vision remains strong, and we expect our new business development initiatives will drive continued business growth on our path of sustained success.”
Financial Results for the Three Months Ended June 30, 2025
For the three months ended June 30, 2025, revenue increased
Revenue from the Company’s direct patient services segment was
Revenue from the medical equipment leasing segment decreased
Radiation therapy revenue was
Gross margin in Q2 2025 was
Net loss attributable to American Shared Hospital Services for Q2 2025 was
Adjusted EBITDA, a non-GAAP financial measure, was
Financial Results for the Six Months Ended June 30, 2025
For the six months ended June 30, 2025, revenue increased
Revenue from the Company’s direct patient services segment increased
Revenue from the leasing segment was
Radiation therapy revenue was
Gross margin for the first half of 2025 was
Net loss attributable to American Shared Hospital Services for the first half of 2025 was
Adjusted EBITDA, a non-GAAP financial measure, was
Balance Sheet Highlights
At June 30, 2025, cash, cash equivalents, and restricted cash totaled
American Shared Hospital Services’ shareholders' equity (excluding non-controlling interests) was
Conference Call
The Company will hold a conference call to discuss its second quarter 2025 financial results today at 1:00 pm ET.
Teleconference and Webcast Information
To participate, domestic callers may dial 1-844-413-3972 and international callers may dial 1-412-317-5776 at least 10 minutes prior to the start of the call and ask to join the American Shared Hospital Services call.
A simultaneous webcast of the call may be accessed through the Company's website, www.ashs.com, or directly:
https://event.choruscall.com/mediaframe/webcast.html?webcastid=uJ5x0Ugn
A replay of the call will be available at 1-877-344-7529 or 1-412-317-0088, access code 3350902, through August 20, 2025. The call will also be available for replay on the Company’s website at www.ashs.com.
About American Shared Hospital Services (NYSE American: AMS)
American Shared Hospital Services (AMS) is a leading provider of turnkey solutions to cancer treatment centers, health systems, and cancer networks in North and South America. The Company works closely with its partners to develop and grow their cancer service lines and provide integrated cancer care to patients in a convenient local setting close to home. For centers under health system partnerships, the Company and its health system partners share in the capital investment cost and profitability of the operations based on their respective ownership interests. For more information, please visit: www.ashs.com
Safe Harbor Statement
This press release may be deemed to contain certain forward-looking statements with respect to the financial condition, results of operations and future plans of American Shared Hospital Services including statements regarding the expected continued growth of the Company and the expansion of the Company’s Gamma Knife, proton therapy and direct patient care services business, which involve risks and uncertainties including, but not limited to, the risks of economic and market conditions, the risks of variability of financial results between quarters, the risks of the Gamma Knife and proton therapy and direct patient care services businesses, the risks of changes to CMS reimbursement rates or reimbursement methodology, the risks of the timing, financing, and operations of the Company’s Gamma Knife, proton therapy, and direct patient care services businesses, the risk of expanding within or into new markets, the risk that the integration or continued operation of acquired businesses could adversely affect financial results and the risk that current and future acquisitions may negatively affect the Company’s financial position. Further information on potential factors that could affect the financial condition, results of operations and future plans of American Shared Hospital Services is included in the filings of the Company with the Securities and Exchange Commission, including the Company's Quarterly Report on Form 10-Q for the three-month period ended March 31, 2025 and the Annual Report on Form 10-K for the year ended December 31, 2024.
Non-GAAP Financial Measure
Adjusted EBITDA, the non-GAAP measure presented in this press release and supplementary information, is not a measure of performance under the accounting principles generally accepted in the United States ("GAAP"). This non-GAAP financial measure has limitations as an analytical tool, including that it does not have a standardized meaning. When assessing our operating performance, this non-GAAP financial measure should not be considered a substitute for, and investors should also consider, income before income taxes, income from operations, net income attributable to the Company, earnings per share and other measures of performance as defined by GAAP as indicators of the Company's performance or profitability.
EBITDA is a non-GAAP financial measure representing our earnings before interest expense, interest income, income tax expense, depreciation, and amortization. We define Adjusted EBITDA as net income (loss) before interest expense, interest income, income tax expense, depreciation and amortization expense, stock-based compensation expense, bargain purchase gain, net, and loss on write down of impaired assets and associated removal costs.
We use this non-GAAP financial measure as a means to evaluate period-to-period comparisons. Our management believes that this non-GAAP financial measure provides meaningful supplemental information regarding our performance by excluding certain expenses and charges that may not be indicative of the operating results of our recurring core business, such as stock-based compensation expense. We believe that both management and investors benefit from referring to this non-GAAP financial measure in assessing our performance.
Contacts
American Shared Hospital Services
Ray Stachowiak, Executive Chairman
rstachowiak@ashs.com
Investor Relations
Kirin Smith, President
PCG Advisory, Inc.
ksmith@pcgadvisory.com
| American Shared Hospital Services | |||||||||||||||
| Condensed Consolidated Statements of Operations | |||||||||||||||
| Summary of Operations Data | |||||||||||||||
| (Unaudited) | |||||||||||||||
| Three months ended June 30, | Six months ended June 30, | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Revenues | $ | 7,071,000 | $ | 7,056,000 | $ | 13,183,000 | $ | 12,272,000 | |||||||
| Costs of revenue | 5,441,000 | 4,588,000 | 10,611,000 | 7,661,000 | |||||||||||
| Gross margin | 1,630,000 | 2,468,000 | 2,572,000 | 4,611,000 | |||||||||||
| Selling and administrative expense | 1,746,000 | 1,896,000 | 3,554,000 | 3,775,000 | |||||||||||
| Interest expense | 428,000 | 385,000 | 861,000 | 734,000 | |||||||||||
| Loss on write down of impaired assets and associated removal costs | - | 188,000 | - | 188,000 | |||||||||||
| Operating (loss) | (544,000 | ) | (1,000 | ) | (1,843,000 | ) | (86,000 | ) | |||||||
| Bargain purchase gain, net | - | 3,679,000 | - | 3,679,000 | |||||||||||
| Interest and other income | 45,000 | 59,000 | 109,000 | 165,000 | |||||||||||
| (Loss) income before income taxes | (499,000 | ) | 3,737,000 | (1,734,000 | ) | 3,758,000 | |||||||||
| Income tax (benefit) | (21,000 | ) | (31,000 | ) | (344,000 | ) | (75,000 | ) | |||||||
| Net (loss) income | (478,000 | ) | 3,768,000 | (1,390,000 | ) | 3,833,000 | |||||||||
| (Plus) less: Net loss (income) attributable to non-controlling interest | 198,000 | (166,000 | ) | 485,000 | (112,000 | ) | |||||||||
| Net (loss) income attributable to American Shared Hospital Services | $ | (280,000 | ) | $ | 3,602,000 | $ | (905,000 | ) | $ | 3,721,000 | |||||
| (Loss) earnings per common share: | |||||||||||||||
| Basic | ( | ) | ( | ) | |||||||||||
| Diluted | ( | ) | ( | ) | |||||||||||
| Weighted Average Shares Outstanding: | |||||||||||||||
| Basic | 6,582,000 | 6,482,000 | 6,577,000 | 6,467,000 | |||||||||||
| Diluted | 6,582,000 | 6,583,000 | 6,577,000 | 6,564,000 | |||||||||||
| American Shared Hospital Services | |||||||||||||||
| Balance Sheet Data | |||||||||||||||
| Balance Sheet Data | |||||||||||||||
| (Unaudited) | |||||||||||||||
| 6/30/2025 | 12/31/2024 | ||||||||||||||
| Cash, cash equivalents and restricted cash | |||||||||||||||
| Current assets | |||||||||||||||
| Total assets | |||||||||||||||
| Current liabilities | |||||||||||||||
| Shareholders' equity, excluding non-controlling interests | |||||||||||||||
| 6,480,000 | 6,420,000 | ||||||||||||||
| American Shared Hospital Services | ||||||||||||||||
| Adjusted EBITDA | ||||||||||||||||
| Reconciliation of GAAP to Non-GAAP Adjusted Results | ||||||||||||||||
| (Unaudited) | ||||||||||||||||
| Three months ended June 30, | Six months ended June 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Net (loss) income | $ | (280,000 | ) | $ | 3,602,000 | $ | (905,000 | ) | $ | 3,721,000 | ||||||
| Plus (less): | Income tax (benefit) | (21,000 | ) | (31,000 | ) | (344,000 | ) | (75,000 | ) | |||||||
| Interest expense | 428,000 | 385,000 | 861,000 | 734,000 | ||||||||||||
| Interest (income) | (48,000 | ) | (77,000 | ) | (122,000 | ) | (189,000 | ) | ||||||||
| Depreciation and amortization expense | 1,508,000 | 1,523,000 | 2,957,000 | 2,857,000 | ||||||||||||
| Stock-based compensation expense | 114,000 | 99,000 | 203,000 | 197,000 | ||||||||||||
| Bargain purchase gain, net | - | (3,679,000 | ) | - | (3,679,000 | ) | ||||||||||
| Loss on write down of impaired assets and associated removal costs | - | 188,000 | - | 188,000 | ||||||||||||
| Adjusted EBITDA | $ | 1,701,000 | $ | 2,010,000 | $ | 2,650,000 | $ | 3,754,000 | ||||||||
FAQ
What were American Shared Hospital Services (AMS) Q2 2025 earnings?
How much revenue did AMS generate from direct patient services in Q2 2025?
What is AMS's cash position as of Q2 2025?
What are AMS's expansion plans for 2025?
How did AMS's different business segments perform in Q2 2025?
