American Shared Hospital Services (AMS) investor relations material

Executive summary

• Quarterly revenue reached $8.43 million in Q2 2026, up 19% year-over-year, with first half revenue rising 18% to $15.51 million, driven by Direct Patient Services and international growth, especially in Rhode Island, Peru, and Puebla.

• Strategic transformation from equipment leasing to a diversified radiation oncology platform, along with operational improvements, led to higher patient volumes and utilization.

• Cash generation was strong, with $4.4 million generated in the first half and cash balance rising over 80% to $6.8 million at June 30, 2026.

• Net loss attributable to shareholders increased to $514,000 for Q2 and $1,126,000 for the first half, mainly due to higher legal fees and increased credit loss allowances.

• Growth was supported by strategic investments, technology upgrades, and expansion in advanced radiation therapy services.

Financial highlights

• Q2 2026 revenue: $8.43 million (up from $7.07 million in Q2 2025); six-month revenue: $15.51 million (up from $13.18 million year-over-year).

• Direct Patient Services segment revenue grew 40% to $4.9 million in Q2; first half up 35% to $8.95 million.

• Proton Beam Therapy revenue rose 22% to $2.3 million in Q2; $4.3 million for the first half.

• Gross margin for Q2 was $1.4 million (down from $1.6 million year-over-year); H1 gross margin: $2.7 million (up from $2.6 million year-over-year).

• Q2 net loss per diluted share: $0.07; H1 net loss per diluted share: $0.17 (vs. $0.04 and $0.14 prior year).

Outlook and guidance

• Management remains focused on expanding patient access, improving operating efficiencies, and positioning for sustainable long-term growth.

• Substantial doubt exists about the company's ability to continue as a going concern due to ongoing covenant defaults and liquidity risks.

• The company is pursuing asset sales, additional financing, and strategic investments to address debt maturities and liquidity needs.

• Continued strengthening of the balance sheet and capital structure is a priority.