| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 8.43 | 19.1% | 19.2% |
| Total Income | 8.43 | 19.1% | 19.2% |
| Expenditure | 9.34 | 16.6% | 22.6% |
| PBT | -0.86 | 1.1% | 72.0% |
| Net Profit | -0.51 | 16.4% | 82.1% |
| OPM | -10.79% | 2.25pp | 3.10pp |
| NPM | -6.10% | 2.54pp | 2.14pp |
| EPS | -0.07 | 22.2% | 75.0% |
American Shared Hospital Services Reports Q2 2026 Financial Results
13 Aug 2026 · 13 Aug, 10:21 pm
Summary
American Shared Hospital Services reported a 19% year-over-year increase in second quarter revenue to $8.4 million, driven by strong performance in Direct Patient Services and Proton Beam Radiation Therapy. The company also saw significant growth in its international Gamma Knife revenue. While the company reported a net loss for the quarter, operating cash flow remained positive, and cash reserves increased substantially.
Key Highlights
- 1
Total second quarter revenue increased 19% year over year to $8.4 million, compared with $7.1 million in the second quarter of 2025.
- 2
Second quarter Direct Patient Services revenue increased 40% year over year to $4.9 million, driven by higher procedure volumes.
- 3
Second quarter Proton Beam Radiation Therapy revenue increased 22% year over year to $2.3 million, reflecting higher treatment volumes and reimbursement.
- 4
International Gamma Knife revenue increased 56% during the first six months of 2026 to $2.7 million as treatment volumes increased.
- 5
Cash provided by operating activities totaled $4.4 million during the first six months of 2026.
- 6
Cash, cash equivalents and restricted cash increased to $6.8 million at June 30, 2026, compared with $3.7 million at December 31, 2025.
Management Comments
Craig Tagawa
Our second quarter results demonstrate the strength of our diversified radiation oncology platform. Our quarterly revenue growth reflects continued momentum in our Direct Patient Services business, improved Proton Beam Radiation Therapy performance and increasing contributions from our international operations. These results underscore the benefits of the strategic investments we have made over the past several years to expand our treatment capabilities and geographic footprint. During the quarter, our Rhode Island facilities continued to deliver strong procedure growth while our Peru and Puebla radiation therapy centers generated another solid quarter of operating performance. In addition, higher procedure volumes and reimbursement at our Proton Beam Radiation Therapy operation contributed meaningfully to revenue growth. We remain focused on improving operating efficiencies, expanding patient access, and positioning our portfolio for sustainable long-term growth.
Ray Stachowiak
The fundamentals of our business remain strong. Demand for advanced radiation therapy continues to grow, and our portfolio of Gamma Knife, Proton Beam Radiation Therapy and radiation oncology centers positions AMS to participate across multiple areas of cancer treatment. While we continue to address our financing initiatives, our priority remains on executing our long-term growth strategy, strengthening our balance sheet and creating value for our shareholders through disciplined capital allocation and continued operational execution. Our strategy remains focused on investing in advanced radiation therapy technologies that improve patient outcomes while generating attractive long-term returns. The breadth of our platform—including Gamma Knife, Proton Beam Radiation Therapy and radiation oncology centers—provides multiple avenues for sustainable growth as demand for precision cancer treatment continues to expand. While we continue to address our capital structure, our operating business is performing well. We are encouraged by the continued growth in Direct Patient Services, improving international performance and strong operating cash generation during the first half of 2026. Our priorities remain clear: continue growing procedure volumes, expand our installed base of advanced radiation therapy technologies, prudently manage capital and strengthen our financial position. We believe these efforts position the Company to capitalize on attractive long-term opportunities in precision radiation oncology.
Informational and educational content only. Not investment advice.