American Shared Hospital Services specializes in leasing advanced radiosurgery and radiation therapy equipment to healthcare providers. The company offers Gamma Knife stereotactic ...
American Shared Hospital Services (AMS) is a leading provider of turnkey technology solutions for advanced radiosurgical and radiation therapy services. The company's primary business model revolves around leasing sophisticated medical equipment to healthcare providers, thereby reducing the capital burden on hospitals while enabling them to offer cutting-edge treatments. Key products ...American Shared Hospital Services (AMS) is a leading provider of turnkey technology solutions for advanced radiosurgical and radiation therapy services. The company's primary business model revolves around leasing sophisticated medical equipment to healthcare providers, thereby reducing the capital burden on hospitals while enabling them to offer cutting-edge treatments. Key products include Gamma Knife stereotactic radiosurgery systems, a non-invasive technology used to treat brain tumors, arteriovenous malformations, and trigeminal neuralgia, and proton beam radiation therapy systems, with centers operating in Orlando, Florida, and Long Beach, California. AMS also provides comprehensive support services including planning, installation, reimbursement guidance, and marketing strategies. As of December 31, 2021, the company's portfolio included 115 active Gamma Knife units in the U.S. and two in South America, along with one proton beam system. Financially, AMS has a market cap around $10.2 million and trades on NYSE Arca. While the company has faced recent negative profitability metrics (TTM net margin -5.3%), it maintains a gross profit margin of 18.5% and has a moderate debt-to-equity ratio of 0.9. Leadership includes CEO Craig K. Tagawa and Executive Chairman Raymond C. Stachowiak, a founder of Shared Imaging. With a lean workforce of 44 employees, the company continues to focus on expanding its technology offerings and supporting cancer centers through creative financial solutions and operational expertise. Future prospects depend on hospital capital budgets, adoption of advanced radiation therapies, and competition in the medical equipment leasing space.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$28.1M
-0.9%
+19.0%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-1.6M
-171.0%
+16.0%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+18.0%
-44.6%
-6.5%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
-7.2%
+27.5%
-22.9%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-5.5%
-171.7%
+29.4%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-4.5M
+41.6%
+3.3%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-16.2%
+41.1%
-13.2%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
94.1%
+2.0%
-1.4%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
0.76x
-70.0%
+0.5%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Good day, and welcome to the American Shared Hospital Services Second Quarter 26 Earnings Conference Call. All participants will be in a listen only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by 0. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then 1 on a touch tone phone. To withdraw your question, please press star, then 2. Please note this event is being recorded. I would now like to turn the conference over to Kirin Smith, Investor Relations. Please go ahead.
Kirin Smith: Thank you, Nick, and thank you everyone for joining us today. AMS' second quarter 26 earnings press release was issued earlier today. If you need a copy, it can be accessed on the company's website at www.asashs.com under the Investors section. 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 conference call about future expectations, plans and prospects for the company constitute forward looking statements for the purposes of Safe Harbor provisions under the Private Securities Litigation Reform Act of 2 thousand. Actual results may vary materially from those indicated by these forward looking statements as a result of various important factors, including those discussed in the company's filings with the SEC including the company's annual report on Form 10 ks for the year ended 12/31/2025, and Form 10 Q for the quarter ended 03/31/2026, Company assumes no obligation to update this information contained on this conference call. I turn the call over to management, I would like to remind everyone about our Q&A policy where we provide each participant the time to ask 1 question and 1 follow-up. As always, we will be happy to take additional questions offline. With that, I would now like to turn the call over to Raymond C. Stachowiak, Executive Chairman. Raymond, please go ahead.
Raymond C. Stachowiak: Thank you, Kirin, and good afternoon, everyone. For joining us today and for your continued interest in American Shared Hospital Services. Before we begin, I would like to take a moment to point out that we recently promoted Alexis N. Wallace our longstanding Chief Accounting Officer to the role of Interim CFO. Our previous CFO, Scott Raymond Frech, has moved on to pursue other endeavors. We wish Scott all the best and appreciate his contributions while welcoming Alexis to this well deserved role. After her many years of excellent service on our accounting team. Now let's get into the quarter. The second quarter represented another period of meaningful operational progress for our company. We delivered strong quarterly revenue of approximately 8.4 million representing year over year growth of 19% while first half revenue increased 18% to more than 15.5 million These results were driven by continued strength across …
