American Shared Hospital Logs 35% LINAC Revenue Growth, $1.6M Loss and 7-Year Proton Lease Extension
American Shared Hospital Services posted a $1.6M net loss for FY2025 on $28.1M revenue versus a $2.2M profit on $28.3M a year earlier. LINAC revenue climbed 35.4% to $11.5M as direct patient care services revenue rose 23.7%, and the company extended its Orlando Health Proton Beam lease through 2033.
1. FY2025 Financial Results
American Shared Hospital Services reported total revenue of $28.1 million for 2025, down slightly from $28.3 million in 2024, and a net loss of $1.6 million, or $0.23 per diluted share, compared with net income of $2.2 million, or $0.33 per diluted share, in the prior year.
2. Segment Performance
LINAC revenue grew 35.4% to $11.5 million while Gamma Knife and proton beam radiation therapy revenues declined 5.5% to $9.2 million and 26.0% to $7.4 million, respectively; direct patient care services revenue increased 23.7% driven by the first full year of operations at Rhode Island centers and the Puebla, Mexico facility, with full-year LINAC sessions rising to 28,147 from 14,662.
3. Proton Therapy Lease Extension
The company secured a seven-year extension of its Proton Beam Radiation Therapy system lease with Orlando Health through 2033, reinforcing a partnership of over two decades and ensuring continued leasing revenue from a key customer.
4. Expansion Plans and Outlook
American Shared Hospital is optimizing operations at existing centers, pursuing Certificate of Need approvals for new treatment centers in Bristol and Johnston, Rhode Island, upgrading Gamma Knife units to the Esprit platform in Lima and Guadalajara, and targeting strategic initiatives to strengthen both its equipment leasing and direct patient care segments.