GlobeNewswire·May 14, 2026, 7:00 AM ET

American Shared Hospital Services Reports First Quarter 2026 Financial Results

American Shared Hospital Services reported 15.9% revenue growth to $7.1 million for Q1 2026, driven by a 30.2% increase in direct patient services revenue to $4.1 million.
Gross margins improved 36.7% year-over-year to $1.3 million (18.2%), while adjusted EBITDA rose 18.4% to $1.1 million.
Gamma Knife procedures increased 10.1% to 229, & proton beam radiation therapy (PBRT) treatments grew 20.7% to 1,003.
Operating loss narrowed to $(0.9) million from $(1.3) million in the prior year period, & net loss attributable to the company remained at $(0.6) million.
Direct patient services growth was fueled by higher utilization at Rhode Island centers & the Puebla, Mexico facility.
Leasing revenue remained stable at $3.0 million, partially offset by the expiration of a Gamma Knife customer contract.
Total cost of revenue increased to $5.8 million due to higher staffing, facility, & maintenance expenses at expanding centers.
Cash, cash equivalents, & restricted cash rose to $5.2 million as of March 31, 2026, from $3.7 million at year-end 2025.
Current long-term debt decreased to $16.8 million from $17.3 million at the end of 2025.
Shareholders' equity excluding non-controlling interests stood at $23.5 million, or approximately $3.56 per share.
Management noted volumes are trending higher into the second quarter & continues discussions with lenders regarding debt obligation extensions.