American Shared Hospital (AMEX:AMS) reported first-quarter financial results on Thursday. The transcript from the company’s first-quarter earnings call has been provided below.
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View the webcast at https://event.choruscall.com/mediaframe/webcast.html?webcastid=NAuZg0I8
Summary
American Shared Hospital reported a 15.9% increase in revenue year-over-year to $7.1 million, driven by strong performance in the Direct Patient Care Services segment.
The company highlighted a leadership transition with Craig Tagala taking over as interim CEO, bringing over 35 years of experience.
Management expressed confidence in growth prospects, citing increasing treatment volumes and successful partnerships, particularly in Rhode Island and internationally.
Adjusted EBITDA increased by 18.4% year-over-year, reflecting improved operational execution and revenue growth.
Future growth opportunities include the development of new facilities in Rhode Island and Guadalajara, which are expected to significantly contribute to long-term expansion.
Full Transcript
OPERATOR
Good day and welcome to the American Shared Hospital Services first quarter of 2026 earnings conference call. All participants will be in a listen only mode for the duration of the call and should you need any assistance today, please signal a conference specialist by pressing the Star key followed by one. After today’s presentation there will be an opportunity to ask questions. To ask a question you may press Star then one on your telephone keypad and to withdraw a question please press Star then two. Please also note that this event is being recorded today. I would now like to turn the conference over to Kieran Smith, Investor Relations. Please go ahead.
Kieran Smith (Investor Relations)
Thank you Operator and thank you everyone for joining us today. AMS First Quarter 2026 Earnings Press Release was issued earlier today. If you need a copy, it can be accessed on the company’s website at www.ashs.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 this 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 1995. 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 our Form 10Q for the second quarter ended March 31, 2026. The company assumes no obligation to update the information contained in this conference call. Before I turn the call over to Management, I’d like to remind everyone about our Q and A policy where we provide each participant the time to ask one question and one follow up. As always, we’ll be happy to take additional questions offline. With that, I’d now like to turn the call over to Ray Stikowiak, Executive Chairman. Ray, please go ahead.
Ray Stikowiak (Executive Chairman)
Thank you Karen and thank you all for joining us today. First, I’ll start with an update on our recent management changes and then we’ll provide some key highlights from the quarter and give further detail on our enthusiasm and confidence in our growth prospects. In late April, we announced a leadership transition with Gary Delanis stepping down as our Chief Executive Officer for personal reasons and the Board appointing Craig Tagawa as as our interim CEO. We thank Gary for his valuable contributions and wish him the best of luck in his future endeavors. Craig brings more than 35 years of experience with the company, including leadership roles as our President, Chief Operating Officer and Chief Financial Officer. His deep operational and financial expertise, along with his long history with the organization positions him well to lead the company through its next phase. We are confident in the team’s ability to continue driving execution, increasing treatment volumes and supporting revenue growth. As we look at the first quarter and a continuation into the second quarter, we are encouraged by the continued progress across our network, particularly in terms of increasing treatment volumes and improved center level performance. I’m pleased to report that we are continuing to see volumes trending positively into our second quarter as we remain extremely focused on strong execution. We saw meaningful growth in volumes at the Orlando PBRT facility, our Rhode Island Centers and our International Gamma Knife Centers. They all contributed directly to our year over year revenue increase and reflects the ongoing ramp up of these facilities. These trends are important as increasing utilization is a key driver of both revenue growth and margin expansion in our model. Our partnerships remain central to our strategy and we continue to work closely with our health system partners to strengthen clinical programs, support physician alignment and expand patient access to advanced radiation therapy services. In Rhode Island, our collaboration with Leading Health Systems continues to support improvements in staffing, referral patterns and overall operational execution. As these centers continue to mature, we believe there’s significant opportunity to further increase volumes and improve financial performance. Internationally, our Puebla center continues to demonstrate strong growth and we remain focused on building on that momentum while also advancing our broader international strategy. Across our Linac and Proton therapy platforms, we are seeing steady demand trends and we believe our investments in this technology and the clinical capabilities position us well to capture that …
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