American Shared Hospital Services Q1 2026 Revenue Up 15.9%

American Shared Hospital Services (NYSE American: AMS), a leading provider of stereotactic radiosurgery equipment and advanced radiation therapy cancer treatment services, announced its financial results for the first quarter ended March 31, 2026. The company reported total revenue of $7.1 million, a 15.9% increase from $6.1 million in the same period last year. This growth was primarily driven by a 30.2% surge in direct patient services revenue, which reached $4.1 million, fueled by higher patient volumes at its three Rhode Island radiation therapy centers and its facility in Puebla, Mexico. Gross margin improved significantly to 18.2% from 15.4%, and Adjusted EBITDA rose 18.4% to $1.1 million. The company also saw a 10.1% increase in Gamma Knife procedures and a 20.7% rise in proton beam radiation therapy (PBRT) treatments. Despite an operating loss of $(0.9) million, this marked an improvement from $(1.3) million in the prior year. CEO Craig Tagawa expressed optimism about the momentum in direct patient care services and improved utilization across treatment centers.

Key executives commented on the results. Executive Chairman Ray Stachowiak highlighted the company's strategy of expanding its direct patient care footprint and strengthening clinical partnerships, noting that growth across LINAC and proton therapy platforms reflects increasing demand for advanced radiation therapy. CFO Scott Frech emphasized that higher treatment volumes translated into improved margins and a reduction in operating loss, adding that volumes continue to trend higher into the second quarter. The company also provided a detailed breakdown of segment performance: direct patient care services revenue increased 30.2% to $4.1 million, while leasing revenue remained stable at $3.0 million, reflecting the impact of prior Gamma Knife agreement expirations offset by improved procedure volumes at upgraded sites. The company's balance sheet showed cash and equivalents of $5.2 million, up from $3.7 million at the end of 2025, driven by improved operating performance and working capital timing.

The company's conference call is scheduled for today at 12:00 PM ET, and details are available on its website, www.ashs.com. The full press release was distributed via PRISM MediaWire, a trusted press release distribution service. American Shared Hospital Services continues to focus on optimizing operations, increasing patient access, and improving financial performance as it positions for long-term growth and profitability. The company's stock ticker is $AMS, and more information can be found at its investor relations page.