American Shared Hospital Services ( (AMS) ) has released its Q3 earnings. Here is a breakdown of the information American Shared Hospital Services presented to its investors.
American Shared Hospital Services (ASHS) is a prominent provider of financial and technology solutions for cancer treatment centers, focusing on stereotactic radiosurgery and advanced radiation therapy systems.
In its third-quarter earnings report for 2024, ASHS reported a significant 36.3% increase in revenue, reaching $6.99 million. This growth was largely attributed to the acquisition of facilities in Rhode Island and a new facility in Puebla, Mexico. Despite the revenue boost, the company faced challenges with decreased leasing revenue and a net loss for the quarter.
The company saw a remarkable 273.2% increase in revenue from its direct patient services segment, whereas the medical equipment leasing segment experienced a decline due to lower Gamma Knife treatment volumes. Overall, the gross margin and operating income decreased, largely due to increased operating costs associated with new facilities and lower treatment volumes.
Looking ahead, American Shared Hospital Services is optimistic about its growth strategy. The company plans to enhance operational efficiencies and expand its product portfolio, aiming to increase patient volumes and improve profitability. With a strong balance sheet and growing sales pipeline, ASHS is well-positioned for future growth.
