| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 7.08 | 15.9% |
| Total Income | 7.08 | 15.9% |
| Expenditure | 8.01 | 8.1% |
| PBT | -0.87 | 29.8% |
| Net Profit | -0.61 | 3.2% |
| OPM | -13.04% | 8.21pp |
| NPM | -8.64% | 1.59pp |
| EPS | -0.09 | 10.0% |
American Shared Hospital Services Reports Q1 2026 Revenue Up 15.9%
14 May 2026 · 14 May, 9:26 pm
Summary
American Shared Hospital Services reported a 15.9% increase in revenue to $7.1 million for the first quarter ended March 31, 2026. The growth was primarily driven by a 30.2% increase in direct patient services revenue, reaching $4.1 million. Gross margin improved to 18.2%, and adjusted EBITDA increased by 18.4% to $1.1 million. The company is focused on optimizing operations, increasing patient access, and improving financial performance.
Key Highlights
- 1
Total revenue increased by 15.9% to $7.1 million in the first quarter of 2026, compared to $6.1 million in the first quarter of 2025.
- 2
Gross margin increased by 36.7% to $1.3 million, representing 18.2% of revenue, compared to $0.9 million, or 15.4%, in the prior year period.
- 3
The company's operating loss improved to $(0.9) million, compared to $(1.3) million in the prior year period.
- 4
Adjusted EBITDA increased by 18.4% to $1.1 million, compared to $0.9 million in the prior year period.
- 5
Direct patient services revenue increased by 30.2% to $4.1 million, compared to $3.1 million in the prior year period.
- 6
Gamma Knife procedures increased 10.1% year-over-year, with 229 procedures performed.
- 7
PBRT treatments increased 20.7% year-over-year to 1,003.
Management Comments
Craig Tagawa
We are encouraged by our performance in the first quarter of 2026, which reflects continued momentum in our direct patient care services segment and improved utilization across our treatment centers. Revenue growth of approximately 16% year-over-year was driven by strong contributions from our Rhode Island and Puebla radiation therapy centers, as well as growth in proton therapy volumes which is continuing into the second quarter. Our focus remains on optimizing operations across our existing network, increasing patient access, and improving financial performance.
Ray Stachowiak
We continue to execute on our strategy of expanding our direct patient care footprint while strengthening our clinical capabilities and partnerships. During the quarter, we saw meaningful increases in treatment volumes across our radiation therapy centers, particularly in Rhode Island and Puebla, which contributed directly to our year-over-year revenue growth. Growth across our LINAC and proton therapy platforms reflects increasing demand for advanced radiation therapy services, and we remain focused on further increasing utilization, improving reimbursement profiles, and driving sustained revenue expansion across our network. We are continuing to see solid volume growth and are positioned well for long term growth and profitability.
Scott Frech
Our first quarter performance highlights the strength of our operating model, as higher treatment volumes translated into improved margins and a significant reduction in operating loss. Additionally, I am pleased to report that we are continuing to see volumes trending higher into the second quarter. As utilization continues to ramp up across our network, we expect to drive further margin expansion and increased profitability. We are also actively focused on enhancing our capital structure to support the next phase of growth.
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