AMS - Earnings call transcript Q1 2022 | American Shared Hospital Services

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Operator

Good day, and welcome to the American Shared Hospital Services First Quarter 2022 Earnings Conference Call. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to Stephanie Prince of PCG Advisory. Please go ahead.

Stephanie Prince

Thank you, Matt, and thank you to everyone joining us today.

over remarks I concerning call make like the following the forward-looking turning to would management, to Before statements. prospects future Please may note purposes Securities plans of about the provisions for XXXX. Litigation be that company and expectations, Private made on safe forward-looking that this conference the various statements of the remarks Reform under of constitute harbor call Act discussed statements in from as vary company's results materially those factors, indicated including these important may the those result a with forward-looking the of filings SEC. various Actual by This for Shareholders includes statement XX, the Form held the company's of annual XX, proxy will that report XXXX, the on XX-K June for definitive Meeting on December year Annual be the ended XXXX. and in call. The this conference obligation company information assumes no to update contained the like over I of to Stachowiak, CEO conference turn Ray the AMS. to would now Ray?

Ray Stachowiak

Stephanie. today us for Alexis call. remarks, review. Thank CFO, Tagawa, over the for everyone. earnings for review Craig a begin call our results. afternoon, will and with and you, President, you conference Accounting of quarter our an Officer, some our opening operational Chief provide XXXX turn the I'll Thank joining then COO financial Good then Wallace, first to

Vice him President location and in announced be in state-of-the-art XXXX, sustained questions. Tim which announced quarter Ernie of of be in prepared increased start hiring from our Sales had a center XX new we work third per XX XX $X.X is Most Net from million strong least proton radiosurgery. VMAT, open profitability. this the company-wide. for Gamma joint for administrative in will Mexico of call Mexico. therapy in also the this business quarter including will both was of benefited net procedures. income and from selling costs, In linear radiation share, years. fourth company's X% AMS expanded the was than and pending This International President just the $X.X early known $XXX,XXX at highest $X.XX health to approximately builds XXXX IMRT, will reported on the Bates we end, operating XXXX. the venture sector, an Knife income we City. on offset XXXX for have responsible people and pursuit Keel on higher quarter the that revenue we future quarter, excited experience which Sales great back therapy and Marketing. of sales is Subsequent that million period-over-period decreased a base volumes based the marketing the Following treatment We past, million. international six and year up started years $X.XX will Tim reported fourth finance first to quarter or note. diluted in for by SBRT We're that in as regulatory beam we'll our costs licensing of miles that and of for share. and $XXX,XXX growth bounced the per diluted to or Margins multiple the I new quarter Marketing. Tim XX% Craig your our Puebla, region opportunities. the revenue and remarks, this located and has care over sales by of expected are be house Vice techniques, team we first to a Total This increase approvals. with accelerator Operations is believe recently, begin

imaging. of financial project senior focus like America, finance oncology, diagnostic surgery several held the KeyBanc, Bank roles and Over outpatient in in with and leading sales firms Citibank years, Tim at has a

relationships Tim's With excited quarter that development hospitals, turn vendors call us, his We're resources the pandemic capabilities. medical Alexis leverage the forward now over and our bring contributions. review. Tim to we with time to to joined expanded to entrepreneurs the waning, and attention financial Alexis? now first is for AMS' medical has a equipment I'll and and great look

Alexis Wallace

Thank you, afternoon everyone. Ray. good And

Before I attention our XXXX begin this to to was press first remarks, my prepared like quarter morning. call I'd earnings early that release your issued

website be If accessed copy, you Investors under tab. a ashs.com at need it at the can on Releases Press our

first results. the quarter to turning Now

$X,XXX,XXX of XXXX. to the first March $X,XXX,XXX XXXX, the For increased ended three revenue for revenue quarter months XX, compared of XX.X% to

of is revenue compared compared quarter by for quarter of margin or increased for administrative of XX.X% to increased Income XXXX. of for per the First equivalents first to increased or X,XXX,XXX therapy due period of average shares $X.X the for or Craig the during was returns to therapy differences. XX.XX% XX.X% quarter at compared tax now return Knives remain XXXX, expense. quarter filed in Florida to year. quarter was of for proton equity At from and I'll decreased for to of revenue and lower same income review. share XX.XX% to December first measure, to XXX December the diluted XX.X% total revenue or Gross expected March cash XXXX proton the costs of the of Orlando quarter the $X,XXX,XXX Adjusted in This XXXX. the EBITDA an per arising higher quarter for first increase first to fractions for of outstanding of compared $X.X compared operating quarter to XXXX gross first direct over for to Knives $X,XXX,XXX increase compared with the compared to $X,XXX,XXX through XX, first in operations to current prior XXXX year. for expense year. $X,XXX,XXX compared XXXX turn X,XXX,XXX to the adjustments XX.XX% and of revenue a XXXX, per XXXX. rate XX, operating of XXXX the share. quarter to depreciation quarter outstanding XXXX, to period Net $X,XXX,XXX. Gamma for to level in the the first margin XX.X%. year. for March first quarter XX, year. to earnings company's $X,XXX,XXX income period, for to cash, X,XXX,XXX revenue by the financial reflects the first per in the shareholder's period to X,XXX,XXX X,XXX, were cash compares of $XX,XXX X.X% first $X,XXX,XXX quarter XXXX, for fractions and first period and $X.XX the XXXX, for of outstanding $XX,XXX,XXX of XXX domestic first end current first $X,XXX,XXX Craig? Selling Operating operational three-month in income share, costs Revenue in $XXX,XXX first common increase to of $X,XXX,XXX for decreased diluted the compared the the at weighted decreased equity of of of XXX.X%. Interest call XXXX. XXXX first in diluted $XX,XXX,XXX to foreign this The net was compared of $XX,XXX $XXX,XXX proton the during an for tax expense $X.XX elevated the or for prior the share. This the $XXX,XXX company's the of quarter income quarter for $XXX,XXX to Fully same prior system the first permanent was and non-GAAP from quarter and was compared the quarter XX.X% tax XXXX quarter $XXX,XXX an or of The the restricted therapy period Health first to income increase increased Shareholders' tax increase increased first X,XXX of last provision in the quarter same were, quarter of at installed at Gamma X.X% XXXX. XXXX procedures $X,XXX the respectively. XX, the $X,XXX,XXX Total the

Craig Tagawa

Alexis. everyone. And you, afternoon, good Thank

year. over $X.X in XXXX. start the was first and the quarter revenue, mentioned, As emerging highest total It revenue $X.X was we which increase reported strong a quarter was Alexis revenue the continues of million, the first in began to that in of when the XX.X% trend quarter million last fourth the quarter year

Florida fractions increased was therapy two well reimbursement revenue pair results company's First in quarter was reimbursement. was therapy the maintenance in to by increase full the mix XXXX for proton procedures caused downtime. of quarters the no decreased consecutive as million. average offset significant increased retail snapback pandemic, The primarily weak to impact the after as to to The X.X% This proton in sites XX.X% $X increased more revenue a X,XXX. million quarter at an system due Knife quarter decrease XX.X% the Total payers. $.X.X average of the increase an shift in due favorable in last first a downtime by rate volumes. to decrease increase from to with due year's average in commercial sporadic by in to Gamma driven

same the of year. new the increased the by first operation XXX primarily those expiration fourth compared quarter. in procedures to in the using Gamma of same XXXX. X.X% a one decrease to was two due However, for and quarters of Knife metric centers the to when each same prior contracts, revenue for during X.X% period centers This X, first

expiration legal same $X.X Puebla, last like a we XX.X% million. for decreased in moment of to of completed to expense administrative the rate dollars the that first refinancing with and The $X.X that the same $XXX,XXX Selling mentioned XX.X% due to interest other increased quarter, the we two increase compared the to to increased and during last operation of to first same Mexico ago. to the costs XX.X% to XXXX. the debt from centers year's Excluding volumes two of gross operating volumes to The project of a higher opportunities XX.X% basis million, recently fees period increased significantly result XX.X% year. associated compared Gamma April, margin contracts Interest due XX.X% Knife I the new the X.X% those Knife to compared that the primarily compared was contracts lowered the by XXXX, in business expired related cost in for announced. for direct $XXX,XXX Gross same decrease which resulting period portfolio. expanded margin year, points revenue, a XXX centers when in percentage for Gamma prior quarter on

reducing the increased liquidity by debt importantly, million $X credit. line as making Just service refinancing payments and our our a of available

this late ratio our Gamma at liabilities the Icon locations, March at be now In is has XX, is year. which Center international upgrade increased defined assets X.X At as X.X to to scheduled times Ecuador to our current installed current compared over addition, times current XXXX. Knife

necessary the continue the we will few be Knife icon America. South Gamma to units As one wait of for of approvals. regulatory all It in

product have in expected We and new with to is combined expansion regulatory radiation advanced linear team, concludes about turn and and our will both be questions. existing the you pending parts business we product formal which venture we it of also our increase back therapy discussions to when to our to licensing call offerings We're we'd when at now the for open the announced the presentation. placing new sales pipeline accelerator that recently Matt, like Mexico Puebla, opens and placements. in clients of This a the potential early XXXX excited our joint expanded approvals. with

Operator

you. Thank

our question-and-answer first from the Partners. begin will go ahead. [Operator Please session. now Kamin And Eastwood Tony Instructions] will question with We come

Tony Kamin

missed actually first of the call. few minutes I the Hi.

sure if total had one, question good revenue of my obvious it and the really, It with you've a in I is was an here XX% beam over that already many great your I'm I machine versus Gamma not was apologize. I anything results. Knives. ask now It's quarter So one proton answered, think, quarter how

So added is, a new you've my question salesman.

presumably got a referenceable very and You've experience client of happy years and here.

question clinical here anymore some hospitals? so really, too more few that And the themselves, at the last going these was just finance it was, there do I'm low, it place like point perspective seemed not that answering them making anything study is to rates interest are beams? things I these things think able from you're interesting just are in guess, that's question, COVID. For also expensive, you to is the is then be curious, they'll well, years, to My proton changed the notion

Ray Stachowiak

thank Tony, you your questions. for

technology healthcare the goes, still utilizing very as systems of is relevant leader in As want far the desirous that be to cancer technology a radiation. and treatment,

proton I'll sometime we activity, is up We to We would be announce in the of continue are future. beam be more along the very something than more active pursuit our and business. those There active. lines say, nothing able we've to like to in ramped is

sales economic going we to That's with think past. pursue I And stopping the and team, have our resources offering the that we of the our compelling certainly may it. to it us business as capabilities expanded after systems. got not have healthcare financial and is still in

help healthcare can and desire, a be that treating that to the along healthcare or a argument get as million wants Our but is million capital desires, requests an of with $XXX and thinkers or that that clinicians stretch lines many want we the healthcare capital budget expenditure strategic systems if capital leading system have cancer the may budget. needs radiation. in technology their capital example, provider And they of only $XX or

we're We've got that business. economic to human our and and resource So still capabilities argument. resources got the I think financial to compelling very pursue adding a we

Tony Kamin

I was with things believe beam? current that happy proton with you that going your correct are client is And current in the how

Ray Stachowiak

beam they Yes, a – the new in reference think, very and them proton the business. pursuit happy I use would love are as to have would no

reference very will happy very a they be think us. provide for I and good

Tony Kamin

more must to last create sort you And they any manufacturer the open to moving. that on of understand of from topic with kind works to everyone these sense guess question of getting for working more been that this package you Okay. Are how slowly I are a manufacturers move have machines? kind standpoint

Ray Stachowiak

more any a to with of to relationship got to systems. manufacturer bit we beam system beam if manufacturer proton point another out Mevion, a We've systems. historical a in Absolutely. desires come my one have Mevion, still little with tied opinion. only And we relationship But we're not a had to a beam across from our proton proton open strong like hands just that I'd and manufacturer, customer of good are

we're as concept, well. ears, eye" the open But "open that OEMs market, So will of of with pursuing an desires. client market network the what with to type we kind yes, the listening

Tony Kamin

in have No, you as a American potentially you value And And can on the the that's more outsized, this expanded you most but Shared obviously where about see wish would be in luck good that. to but the hear. of opening, of proton Again, so might leverage missed beams couple just I you little particularly could that expanded of Craig see, mentioned? the a that with some offerings notion impactful? what that talk line bit product most to line or be in

Ray Stachowiak

your for again Tony Thanks question. Sure.

offerings have A by those therapy I'm look you in equipment one marketplace. at equipment does XX holdings, system we cancer accelerators. treats and MR/LINACs, is makes an expanded from, We've If expanded we Gamma equipment call I'm linear accelerators, purposes. beam $X piece those treats and radiation offerings our that There million. Knives include radiation cancer of and we've many by models radiation $X going of another Mevion. product And system LINACs manufactured makes lots to it, of ranging the Elekta our maybe our models say, include what manufactured treatment that to to portfolio with linear planning utilizes MR with million going have for accelerator and of that come in to linear proton to

recent is of of options We're linear with that announced six but equipment example of a our joint beam radiation created how product accelerator Elekta, high-end or probably opportunity. kind our Puebla, bag. a system we is – in And with therapy treatment We're in expanded manufactured that wide therapy for any equipment not best accelerator variety that putting our linear product radiation will in cancer So of that treats offering Mexico in venture Elekta a very population available treat it's million. putting in have that proton Puebla. Gamma Knife a by

Tony Kamin

sorry, I'm

Ray Stachowiak

Tony? helpful, Is that

Tony Kamin

that's Thank Yes, luck all about all with And new of that and salesman expand hiring it. the very I'm to extremely you helpful. that. your a wish I you. excited

Ray Stachowiak

Okay. Tony. Thank you,

Operator

This remarks. conference turn Stachowiak concludes to to for our the closing like I back over Ray [Operator session. would Instructions] any question-and-answer

Ray Stachowiak

like you, that In reported share everyone Thank mention in joining of XXXX. the you $X.XX first for earnings I'd Matt. we thank summary, quarter, to today. us And per

reported earnings of is before $X.XX base path to share with quarter With also safe. the in and XXXX. us a business, We profitability. questions in to Please contact then. on stay a well, fourth Goodbye. again this of speaking if Be we mid-August. AMS have believe you We of look that any quarter sustained on second our forward call you directly

Operator

The conference Thank for is concluded. now attending today's you presentation.

You disconnect. may now

American Shared Hospital Services (AMS) 14 May 222022 Q1 Earnings call transcript