Loading...
01/11 03:08
Loading...
Access earnings results, analyst expectations, report, slides, earnings call, and transcript.
Despite strong revenue growth in direct patient services and international expansion, the earnings call revealed several negative factors: an EPS miss, declining treatment volumes, and increased operational expenses leading to a significant drop in adjusted EBITDA. The Q&A highlighted concerns about regulatory changes and management's vague responses added uncertainty. The lack of shareholder return initiatives further dampens sentiment. Overall, these factors suggest a negative stock price reaction in the coming weeks.
Total Revenue $6.1 million (17% increase year-over-year from $5.2 million) due to growth in Direct Patient Services and international business development.
Direct Patient Services Revenue $3.1 million (224% increase year-over-year from $963,000) driven by the acquisition of Rhode Island operations and new facility in Puebla, Mexico.
Equipment Leasing Revenue $3 million (30% decrease year-over-year from $4.3 million) due to lower Gamma Knife and proton beam therapy volumes.
Gamma Knife Revenue $2.1 million (18% decrease year-over-year from $2.6 million) attributed to the expiration of contracts and reduced procedures.
Proton Beam Radiation Therapy Revenue $1.6 million (38% decrease year-over-year from $2.7 million) due to lower treatment volumes.
LINAC Systems Revenue $2.4 million (compared to $0 in Q1 2024) resulting from the acquisition of Rhode Island operations and Puebla launch.
Gross Margin $942,000 (55% decrease year-over-year from $2.1 million) due to increased operational expenses and lower treatment volumes.
Operating Income Loss of $1.3 million (compared to a loss of $85,000 in Q1 2024) reflecting increased costs and lower revenues.
Net Loss $625,000 or $0.10 per diluted share (compared to net income of $119,000 or $0.02 per diluted share in Q1 2024) due to lower revenues and increased expenses.
Adjusted EBITDA $949,000 (46% decrease year-over-year from $1.75 million) primarily due to lower procedure volumes.
Cash and Cash Equivalents $11.5 million (increase from $11.3 million at December 31, 2024) indicating a stable financial position.
Shareholders’ Equity $24.7 million or $3.82 per share (decrease from $25.2 million or $3.92 per share at December 31, 2024) due to net losses.
New Radiation Therapy Treatment Facility: Opened a new radiation therapy treatment facility in Puebla, Mexico.
CT Simulators Upgrade: Upgraded CT simulators at Rhode Island centers for improved efficiency and patient care.
Gamma Knife Systems: Strengthening the radiation therapy equipment leasing segment by increasing community awareness among referring physicians.
International Expansion: Established a fourth international center in Guadalajara, Mexico, expected to treat patients by the end of 2025.
Rhode Island Expansion: Acquired a 60% majority interest in three radiation therapy treatment centers in Rhode Island.
Proton Beam Radiation Therapy Center: Obtained a Certificate of Need to build and operate the first proton beam radiation therapy center in Rhode Island.
Revenue Growth: First quarter 2025 revenue increased 17% year-over-year to $6.1 million.
Cost Control: Maintained strong cost controls despite lower procedure volumes.
Adjusted EBITDA: Adjusted EBITDA for Q1 2025 was $949,000, down from $1.75 million in Q1 2024.
Shift to Patient-Centric Model: Transitioning from a cancer treatment equipment leasing focus to a more patient-centric service model.
Long-Term Growth Strategy: Focused on long-term growth opportunities and building shareholder value.
Earnings Miss: American Shared Hospital Services reported an EPS of $-0.2, missing expectations of $0.04.
Treatment Volume Decline: The company experienced a decline in treatment volumes, which affected revenue and adjusted EBITDA.
Revenue Decrease in Equipment Leasing: Revenue from the Equipment Leasing segment decreased to $3 million from $4.3 million in Q1 2024, primarily due to contract expirations and downtime for upgrades.
Gamma Knife Revenue Decline: Gamma Knife revenue declined 18% to $2.1 million, with a 24% decrease in procedures due to contract expirations.
Proton Beam Revenue Decline: Revenue from proton beam radiation therapy decreased 38% to $1.6 million, with a 35% decrease in treatment fractions.
Operational Expenses Increase: Increased operational expenses, higher staffing costs, and investment in technology infrastructure contributed to a decline in gross margin.
Quarterly Fluctuations: The company anticipates quarterly fluctuations in treatment volumes due to changes in diagnosis mix and patient consults.
Regulatory Challenges: The company is navigating regulatory requirements, including obtaining Certificates of Need (CON) for new facilities.
Revenue Growth: First quarter 2025 revenue increased 17% year-over-year, driven by the expansion of the Direct Patient Services segment and international business development.
International Expansion: The company is focusing on international growth, with new centers in Puebla, Mexico, and a joint venture in Guadalajara, Mexico.
Acquisition Strategy: Acquisition of a 60% majority interest in three radiation therapy treatment centers in Rhode Island, enhancing direct patient services.
New Treatment Centers: Obtained Certificate of Need (CON) to build a fourth radiation therapy center in Bristol, Rhode Island, and the first proton beam radiation therapy center in Rhode Island.
Staffing and Efficiency Improvements: Implemented staffing strategies to increase treatment volumes and physician engagement.
Future Revenue Expectations: Expect stronger revenue growth in the second half of 2025 as treatment volumes pick up.
Long-term Growth Outlook: Confident in long-term growth potential despite short-term fluctuations in treatment volumes.
Adjusted EBITDA: Adjusted EBITDA for Q1 2025 was $949,000, down from $1.75 million in Q1 2024, reflecting lower procedure volume.
Financial Position: Strong balance sheet with cash and cash equivalents of $11.5 million as of March 31, 2025.
Shareholder Value: Focused on building significant shareholder value through strategic initiatives and growth opportunities.
Shareholder Return Plan: None
Share Buyback Program: None
Dividend Program: None
The earnings call presents a mixed picture with both positive and negative aspects. While there is growth in certain areas like the Puebla facility and Gamma Knife revenue, overall revenue and gross margins have declined year-over-year. The Q&A section reveals concerns about market valuation and management's vague responses. Despite some improvements in specific metrics, the lack of clear guidance and the company's thin trading volume suggest a neutral market reaction. Without a clear strategy to address these issues, the stock price is likely to remain stable in the short term.
The earnings call reveals mixed signals: solid revenue growth and international expansion are offset by declining margins, increased expenses, and revenue drops in key areas. Although management shows optimism, the financials indicate challenges. Despite sequential improvements, year-over-year declines in key metrics and contract expirations raise concerns. The Q&A section highlights strategic staffing and partnerships, but these are not immediate catalysts. Without clear market cap data, a neutral rating is prudent, anticipating limited stock movement within -2% to 2% range due to offsetting positive and negative factors.
Despite strong revenue growth in direct patient services and international expansion, the earnings call revealed several negative factors: an EPS miss, declining treatment volumes, and increased operational expenses leading to a significant drop in adjusted EBITDA. The Q&A highlighted concerns about regulatory changes and management's vague responses added uncertainty. The lack of shareholder return initiatives further dampens sentiment. Overall, these factors suggest a negative stock price reaction in the coming weeks.
The earnings call reveals a mixed financial performance with some growth in revenue but significant declines in margins and increased operational costs. The lack of shareholder return plans and potential risks from regulatory challenges and competitive pressures further contribute to a negative outlook. The Q&A section does not alleviate concerns, as management's responses on regulatory impacts are vague. The overall sentiment is negative, with a likely stock price decrease of -2% to -8% in the coming weeks.
All transcripts are sourced directly from the official live webcast or the company’s official investor relations website. We use the exact words spoken during the call with no paraphrasing of the core discussion.
Full verbatim transcripts are typically published within 4–12 hours after the call ends. Same-day availability is guaranteed for all S&P 500 and most mid-cap companies.
No material content is ever changed or summarized in the “Full Transcript” section. We only correct obvious spoken typos (e.g., “um”, “ah”, repeated 10 times”, or clear misspoken ticker symbols) and add speaker names/titles for readability. Every substantive sentence remains 100% as spoken.
When audio quality is poor or multiple speakers talk over each other, we mark the section instead of guessing. This ensures complete accuracy rather than introducing potential errors.
They are generated by a specialized financial-language model trained exclusively on 15+ years of earnings transcripts. The model extracts financial figures, guidance, and tone with 97%+ accuracy and is regularly validated against human analysts. The full raw transcript always remains available for verification.
