American Shared Hospital Services(AMS) - 2024 Q3 - Quarterly Results

Revenue Performance - Total revenue for Q3 2024 was $6,999,000, representing a 36.3% increase compared to Q3 2023[2] - Revenue from direct patient services ("retail") segment reached$ 3,687,000, a significant increase of 273.2% year-over-year[3] - Revenue from medical equipment leasing segment was $3,312,000, reflecting a decrease of 16.1% compared to the prior year[4] - Proton beam radiation therapy revenue increased by 4.4% to$ 2,316,000, with treatments rising by 5.4%[11] - Gamma Knife revenue decreased by 32.9% to $1,821,000, with procedures down by 31.0%[12] - For the first nine months of 2024, total revenue increased by 23.3% to$ 19,271,000 compared to $15,627,000 in the same period of 2023[17] - Revenues for the three months ended September 30, 2024, were$ 6,999,000, a 36.4% increase from $5,134,000 for the same period in 2023[29] Profitability and Loss - Gross margin decreased to$ 1,370,000, with a gross margin percentage of 19.6%, down from 40.9% in the previous year[5] - Net loss for Q3 2024 was $207,000, or ($ 0.03) per diluted share, compared to net income of $118,000, or$ 0.02 per diluted share in Q3 2023[6] - Adjusted EBITDA for Q3 2024 was $1,366,000, down from$ 1,669,000 in Q3 2023[6] - Gross margin decreased to $1,370,000 for the three months ended September 30, 2024, compared to$ 2,102,000 in the prior year, reflecting a decline of 34.8%[29] - Adjusted EBITDA for the three months ended September 30, 2024, was $1,366,000, down 18.1% from$ 1,669,000 in the same period of 2023[30] - Net loss attributable to American Shared Hospital Services was $207,000 for the three months ended September 30, 2024, compared to a net income of$ 118,000 in the prior year[29] Financial Position - Cash at September 30, 2024, was $14,077,000, compared to$ 13,808,000 at December 31, 2023[21] - Total assets increased to $63,269,000 as of September 30, 2024, up from$ 48,162,000 at the end of 2023, representing a growth of 31.4%[29] - Current liabilities rose to $17,561,000 as of September 30, 2024, compared to$ 10,779,000 at the end of 2023, indicating a 62.5% increase[29] - Cash and cash equivalents increased to $14,077,000 as of September 30, 2024, compared to$ 13,808,000 at the end of 2023, a growth of 1.9%[29] Expenses - Selling and administrative expenses were $1,923,000 for the three months ended September 30, 2024, compared to$ 1,735,000 in the same period of 2023, an increase of 10.8%[29] - Interest expense for the three months ended September 30, 2024, was $336,000, up from$ 277,000 in the prior year, reflecting a rise of 21.3%[29] Other Financial Metrics - The company reported a bargain purchase gain of $263,000 for the three months ended September 30, 2024, compared to a gain of$ 0 in the same period of 2023[29]