Q4 2025 American Shared Hospital Services Earnings Call Transcript
Key Points
- American Shared Hospital Services (AMS) expanded its direct patient care services platform, which now represents the majority of its revenue, providing a more stable and scalable platform for long-term growth.
- The company strengthened its partnerships, including a new collaboration with Brown University Health in Rhode Island, which helped rebuild its physician base and improve treatment volumes.
- AMS extended its long-standing relationship with Orlando Health through a seven-year lease extension for its proton beam radiation therapy system.
- The company saw significant growth in Linac treatments, with volumes increasing year-over-year, driven by operations at its Rhode Island and Puebla, Mexico centers.
- AMS successfully relocated its Lima, Peru center and upgraded its Gamma Knife to a state-of-the-art platform, maintaining leadership positions in Ecuador and Peru.
- Total revenue for the fourth quarter decreased by 14.8% to $7.7 million, primarily due to the expiration of three Gamma Knife contracts and lower proton radiation therapy volumes.
- Revenue from the Medical Equipment Leasing segment declined by 33.9%, reflecting lower PBRT volumes and contract expirations.
- Gross margin for the quarter dropped significantly to 12% from 35% in the previous year, due to lower treatment volumes and a shift in revenue mix towards direct patient services.
- The company reported a net loss attributable to AMS of $631,000 for the quarter, although this was an improvement from the previous year's loss.
- AMS ended the year with a decrease in cash to $3.7 million from $11.3 million at the end of 2024, primarily due to capital expenditures related to its Rhode Island expansion and international investments.
Good day, and welcome to the American Shared Hospital Services fourth-quarter 2025 earnings conference call. (Operator Instructions) Please note this event is being recorded.
I would now like to turn the conference over to Mr. Kirin Smith. Please go ahead.
Thank you, Tom, and thank you, everyone, for joining us today. AMS' fourth quarter and full year 2025 earnings press release was issued today before the market opened. If you need a copy, it can be accessed on the company's website at www.ashs.com at press releases under the Investors tab.
Before turning the call over to management, I would like to make the following remarks concerning forward-looking statements. Please note that various remarks that may be made on this conference call about future expectations, plans and prospects for the company constitute forward-looking statements the purposes of safe harbor provisions under the Private Securities Litigation Reform
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