Earnings call transcript Q4 2022

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Hello, and welcome to the American Shared Hospital Services Fourth Quarter 2022 Earnings Conference Call. [Operator Instructions] Please note, today’s event is being recorded. I would now like to turn the conference over to Stephanie Prince of PCG Advisory. Ms. Prince, please go ahead.

Stephanie Prince

thank everyone and us Keith, you, you joining to today. Thank release quarter this XXXX fourth was earnings opened. AMS' market press issued the morning before

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

call that management, I company the about on conference may the be to Securities would note Please future to for forward-looking the Harbor Safe Litigation the XXXX. statements and forward-looking call the concerning Reform made constitute remarks statements. over prospects expectations, that turning Act of like make of Before following various for under plans remarks this purposes provisions Private

in vary XX, includes for statements from of XX, the factors, reports result company's the results indicated by March XXXX, with year XX-K contained XXXX, and the the XX, The the information June was discussed XXXX, statement quarterly of XX-Q important materially proxy the the Annual SEC. conference obligation company's September XX, as may held the on filings on Meeting for call. XX, no update This a Shareholders to X-month these forward-looking annual Form XXXX, Company June Form this various ended Actual those XXXX. definitive that periods the and those for ended including in on report assumes December

Ray Chairman of Executive Stachowiak, AMS. now would to the to like over I call turn Ray?

Raymond Stachowiak

for Shared's minutes Executive will our his for President for our call and talking review and joining his the Shared. remarks. then fourth Thank fourth spend and today Craig newly then CFO, Gaccione, opening of everyone. financial begin XXXX few American you to Tagawa, Officer us call. a about And you, Stephanie, over I'll earnings some American with good plans Thank priorities day, a quarter quarter. Chief our conference appointed for turn Peter

call we'll Following open the questions. the up your remarks, for prepared

our Gaccione Directors Chief Board that Our March XX, Executive is Peter most exciting on appointed the as of news recently Officer.

the remember, business. COO As very months and contacts at many of entire known radiation Shared us have spectrum. for as well may from medical here market him known oncology joined Peter American Many X ago knowledge He strong to in with He's professional comes us respected. Shared oncology American our you across years XX the after years. and

I solidify and Executive profitability company, am just the remain of trends the firmly we largest approximately outstanding involved and of that operations the now the as the stock. actively XX% the of Chairman to growth plan in of ended. Board, the I I to company together we to shareholder have be in work year continue the established

for our until As will public new Craig announced, we've Financing, CFO place. CFO of Tagawa, GK President in XX% and is search to has to will successor held years and a begun remain succeed serve subsidiary, also our parent our the the we position also Executive continue company as a Craig many company. Chief for a company by as of Officer who owned

and period-over-period with a revenue time X% quarterly for second strong million revenue another year the Fourth solid XXXX. quarter. increased over reached American quarter Shared fourth approximately $X ended in in

net quarterly Our sustainable profit of trend. or to a capped $X.XX year increased per share income and XX% $XXX,XXX

profitability the earnings per In been the prior now to quarter in the fact, eighth this consecutive than I comparable continue. year. is where quarter higher share our have expect

in the our XX% Xx million, will per the $X.XX nearly income to revenue a or and $X.X through net to details $XX share. go increased minutes. few the For year, full Craig increased million

well. $X million remains line grew on balances unused cash and XX% from year million credit to as last XX, December end Our at $XX.X of our

to funds radiation advanced of equipment. over invest these in be believe million We can leveraged $XXX

$X.X million first we recently, a our order of new Just new with customer. the year, announced a agreement

pay to beginning is with marketing and is sales for opportunities. our shared believe off, in pipeline American poised is solid growth. that filled and investment We increased Our

a Craig turn to call financial overview. over Craig? the now will I for

Craig Tagawa

$X.X and last $X Fourth the Ray, to over you, fourth in good Thank morning, everyone. million year. X.X% to quarter increased quarter compared million revenue just

time this mentioned, in $X year that Ray million is this As the we over second revenue. reported quarterly

XX the the million, higher to to revenue Florida year, increased quarter quarter. Fourth the For XX% average of due revenue current in increased for proton therapy XX.X% to period-over-period $XX.X for the reimbursement months $X.X million. system primarily

X.X% of X,XXX decreased which compared year. within decline Gamma the proton consider quarter the Total in million quarter fourth $X.X to Total fluctuation revenue XXX, fourth in therapy to we the were last range. Knife fractions fourth a XX.X% last year, to a compared quarterly typical quarter

more in an Domestic the rate payer period-over-period. retail of The commercial Gamma favorable reimbursement, in XX.X% in by procedures, million increase a which, a average Knife to was Gamma company's driven caused to revenue $X.X turn, $X shift in decrease declined X.X% and decline by decreased million, in to average offset was revenue payers. the increase Knife overall an by revenue mix in international sites

of which when for fourth year. those same the expired, operation, centers the during the same quarters compared each and period in Revenue to centers in Total XXXX, one of two of same that contracts fourth Gamma of quarter XXXX Knife the prior first excludes the cyclical decreased X.X% normal procedures in quarter primarily Knife the decreased XX.X% fourth of expiration fourth to XXX Gamma in from by of contract to XXXX, due quarter and XXXX. the one fluctuations for XXX

when volumes and for compared Gamma the centers Knife XXXX XX.X% same procedures the of the to to XXX during Knife year. quarter fourth Gamma those Knife procedures to compared X.X% period declined volumes of same for prior in decreased centers for same XXXX. domestic Gamma decreased XX to international XX% operation

for permits our receiving the perfection the We Center Ecuador. upgrade Gamma forward are Icon to for looking to Knife in

quarter. accelerator, Gamma one is begin for well. in units or patients soon few will Remember linear new We soon the are expected our Puebla, this all third America. new expecting joint Mexico, Icon that as so South center we permit this The for LINAC, venture can the be of in of Knife the in treating cancer

revenue $X.X margin X.X% the due new primarily of XX.X% administrative compared $X.X $X.X fourth million or Selling opportunities. or million sales Gross XX.X% quarter year, to of increased million gross quarter revenue for to of to for million and fees last XXXX. higher $X.X with to compared of the and costs XX.X% fourth margin business decreased by to associated related

Operating income for to operating the tax as to expenses. fourth higher fourth period domestic return increased was period, due the arising period, filed expense $X.X the $XXX,XXX to income administrative $X.X tax fourth million provision current end tax million increase permanent higher expense taxes XX.X%, current this and during earnings reflecting The quarter through that during continued was last the a in in primarily decrease and Income XX.X% $XXX,XXX as income XXXX year. of of compared of selling the to adjustments to compared differences for XXXX, costs current of quarter the foreign quarter for the well from year.

fourth average Gamma revenues respectively. net on increase income of Net average Services were in of Knife of per or fourth quarter weighted X.X common increased attributable XXXX. rates and to fourth higher American Fully shares dollars to the XX.X% an of diluted million XXXX $X.XX was per quarter $XXX,XXX and was or quarter for Hospital compared and and outstanding share, XXXX diluted for million diluted both XXXX, X.X increase income PBRT the procedures. Shared $X.XX to due The share in $XXX,XXX net income the reimbursement

of Adjusted quarter EBITDA, financial XXXX. a even quarter EBITDA of $X,XXX,XXX in was the fourth for with non-GAAP measure, fourth XXXX, the essentially the

taxes non-GAAP American Shared attributable months to the extinguishment Adjusted XX million income a to per financial for XXXX, $X.X income or $X.X net the $X.XX effect or of million Hospital compared year was for of $X.X net net to million measure, of debt, of per non-controlling the share after For interest diluted $X.X and income was share. million Services all the diluted non-GAAP was XXXX. EBITDA, $X.XX compared

and equivalents XXXX, outstanding $X.XX are share my December restricted AMS future since for and XX, share solid was interest XX, subsidiaries, million $X.XX To cash was or equity, XXXX, of we resources foundation, $XX.X excluding outstanding XXXX. a increase positioned $XX.X believe million, by deep At to $XX.X million December non-controlling had per an $X.X in at X.X% or December XXXX and compared XX, in cash Shareholders' XXXX. growth. or million supported we year-end at remarks, good that year per close our cash,

call to to turn over priorities as discuss CEO. Peter the will plans now his and I

Peter Gaccione

Thank confidence you, Craig, for and thank want to first good I morning, Board Ray everyone. in me. the and their

for streamlining company into the a CEO, it forward positioning look and stages. and American Ray Shared to As I growth. leading its now job next fantastic in did

one original major treatment was manufacturers As all uniquely through my I first quarterly industry opportunity provides team vendor to in with the partner American one of on factors the to when here call, is the management decision introduced Shared Shared. in major American the you, one cancer in This was I said turnkey uncommon our the to at centers relationship. creative clinical last join and equipment

base These strengthen I sales appointed with relationships. three Gamma and Lexel major with marketing installed and enhance I've aggressively sites treatment relationships of Since and areas. business Knife been COO include: our was working target to focusing strategies. to in key working current on OEMs September, our centers strengthen these and Also develop

we’ve managing sales funnel I've generation, and significant a seen to within our and lead In few implementing programs funnel past increase sales the our lead opportunities marketing this assist in and our over pipeline. sales and strategies generation regard, And new teams been developing and sales in prospecting, months. the and

focus to allowing make how the in cancer now awareness it showing at global that to obtain the addition level financial we offer strategic traditional all with must directly our larger them Further, Shared treatment as and with We them in national their closely we’ve differ heavy their resources treatment with elsewhere And fast financing and these to by to American how to department, believe continuing we've financial options areas. branding of and in facility. without and start progress made OEM from committees. three address increasing also Shared prospect plan latest we purchasing allocate new work and burden, I on more opportunities them how and and partners. soon what within systems strategic will officers aware is American their networks, easy CEO, to to C I great we of to of need

base Shared, to company's us as advocate customer Financing a but help initiatives, not our as hired only for recently for marketing installed and better our branding well manage well. as have We GK support American

American social domestically broadening and on shows, websites, increasing internationally. and oncology Shared information and Going forward, trade visible both our radiosurgery radiation see will and major on major the much visibility at messaging our you more media platforms,

professional In sales additional services of financial addition, business new to we another added also pursue opportunities. recently

easily more in We treatment the and communities process targeted the executing times of underserved, patients only and are international developing locations are technology where to to strategies way make where end too not in growth long. accessible users treatment are patient but in advanced within wait U.S., areas

opportunities on and include you our will updating well-established strategy has to for in solutions the this resources, creative deep team Mexico, growth, ahead. presentation. additional to all quarters financial structure expanded we joint multiple offer financial of of cancer and expanding concludes our part AMS customer us We you today. as the ventures with our of for newly turnkey Part This by centers believe joining progress Thank and look formal greater forward acquisitions flexibility. that in such and our targeted Puebla,

Operator

comes the Ford Harry [ph]. And from Instructions] first [Operator [indiscernible] question with Ashford

Unidentified Analyst

[indiscernible] Ray, hope great Hi, Peter having Craig. and you? is day. This are you’re How a

Peter Gaccione

Harry. Thank you,

Raymond Stachowiak

Thank you.

Unidentified Analyst

I little are we more about familiar So this bit bring take because, of will admirers your believe longer at we with a this company. and lot you're might are your with Ashford, that doing, more what of acceptance Ford great that people business a

So about want seem to I just doesn't company something and be that numbers your really depreciation to say a stop understand immediately. that you want noncash I go don't the here. want really I joke, is rude. me through to which be a market polite. expense. correct If me some to I to not you is the But is wrong, joke

quarter annually, cash operations $X.X at numbers, looking flow in it so just a EBITDA. in I'm million when $X over from you're looks little approximately doing So in EBITDA approximately like, per $X the million yearly, million and

market million million $X cash flow $XX operations. in So cap, from

your cash You're United business to which in you combine Gamma it's fascinating given cash makes on you stable public enterprise which, Knife procedures, of fascinating. States I company value cheapest is X.XXx believe, the therapy an beam basis, kind when the with proton flow earnings, is how

Raymond Stachowiak

Well, Harry …

Craig Tagawa

If I’ve wrong? the numbers far said anything so that's in

Raymond Stachowiak

believe that last our with call mentioned I that during No, undervalued. you your we're have observations. not. quarterly I [Indiscernible] firmly conference

past, may you you or as a to that it those future metrics, in the can not If look at too any with whole, much have the company grown and market of of company. compare a outline the our but

really are we positively, undervalued. So

Unidentified Analyst

mean, flow from not X.Xx mean a this but facetious I at mean even certainly business. doesn't sell Yes. way, a Laundromat cash X.Xx cash local in the I flow, operations medical I well-respected and certainly at don't

value, And so steady it's a multiple. Xx might even the an market let's fascinating that just state, in where say,

million cash If cash the have, debt, filings, I the this you you looking it sheet, at portion in long-term And million just you have long-term million today. plus you out which current looks in $XX debt your estimate total an is balance to probably unrestricted $XX you your understand of like debt. if add estimate it's at guesstimate net moment, have $XX or my that

have sheet, believe. free, correct? with Is you so just you could you almost balance if the I chose, that essentially, completely be cash debt So on

Raymond Stachowiak

fairly I numbers. think those Yes. you're in correct

Unidentified Analyst

Right.

flow huge immediately from is expense, earnings, cash which back such your just flow doing cash operations, true say almost with back that if each netted of component you an since cash the flow so then numbers that's business to of actually hand $X true cash why interest out depreciation in is expense flow about add if exactly the million you $X since the easily which cash from operations. million pay operations, could the actually could or generation down cash do, you your a interest because on be approximately of out actual business, is from now debt I net true And the in EBITDA you like right just of adding expense, year, so in And million. the seems interest it your the you're those $X could that is flow conclusion generation is really cash

this Xx basically better So flow It's cash I at flow $X market X.Xx than at XxX operations, year, is $XX in you're cap. cash versus mean million million million a from $XX operations. from fascinating.

if grow, $X market that if medical $XXX so And you according vision, and at a market on should to cap million multiple had be even the $XX would be a growing if double you at Xx loves digits. multiple, company, at the million companies state your were cap. million, you your for essentially, company And, a an XXx steady at market

is here? what to And on wanted seems like just for I M&A. agreement So get ripe conceptual so it the stakes situation this are

buying so you advanced certainly mentioned sheet the on You correctly cash about that balance you radiological million the gives gives optionality, more for in a lot equipment. $XXX power of

to to know, versus, out the very need cash. get hospitals, with here's question. group private in the of the building a So beach a a view making situation #X as they let's associated my risks you're proton psychology How say, company room, you strategically some good a therapy doctors practice, as long which sale, let's which, you of at the say, do time, all

sale controlling or be two cycles an hospital essentially leaseback existing doing could those easily existing sale minority quantified minority hospital a cash? or leaseback the and in And stake view with buying from just flow operations and cash free you for an outright a do that stake to strategically? How a sales up different of sort agreement situation a taking where

Raymond Stachowiak

situations. pursuing such, and are When offers financing, really company we that not Let's that of money believe care you're over talking money -- than much you type added health leaseback systems approach more and inclined our sale to capability. value probably do we

system, care it's to to providing -- trying any going pursue systems. requests care million the oncology And an that of capital have for for an capital million care expenditure inevitably, of major they're example, year, So example, financial proposition officer's equipment, health capital desk might very allocate. each health health through as a $XX we have $XXX and -- coming intensive only as to they radiation path are

budget can that within expand the than respective treatment they So technology tech in do through American high that leader so a sense? partnership and with can remain much Shared, and this competitive they competition invest? make we enter service cancer the that the capital Does faster where And area. marketplace in

Unidentified Analyst

for in ever question XX% taking but be centers let's and to diversified therapy of having million have total beam It asking that I XX% diversified million, similar might just have to stakes, of, the $XXX outlay et center, way, terms more cetera? geographically without say, $XXX a apologize considered, makes proton And huge or slightly in you than rather a minority sense. controlling different

Raymond Stachowiak

If situation needs, calls we very be situations. of yes, that, open meets the the I'd that's for would and those what to say, type customer's

Unidentified Analyst

say fascinating you're on beam point here to further data XX something let's to at either XX%, proton what's mathematically depending XX or growing closer something is, Because therapy. XX% in

a in to that decrease mathematically, where point the of domestically, Just in is there's so in Gamma beam center limited great course, of But the proton therapy it Orlando. the overtakes business essentially the are you growth decrease the Knife.

But I optionality it it's seems million the cash amazing balance sheet, on million, optionality. estimate the sheet, your cash on in let's say, the that $XX just unrestricted just embedded optionality, like $XX balance on

it an improved you beam cash proton So Medicare? you payers versus payers flow or I'm a commercial little to mix color let I going commercial in give could seems talk question. the comes where the payers, increase before -- give what therapy. else drives bit of really on go, of to someone like intuition that But a from us from? has Could about ask the us, us Or

Raymond Stachowiak

[ph] on question a our monitors closely. will comment very that Craig, very that resonant could Craig who good I Okay. And to Tagawa, that's And you that? divert question, expert, Harry.

Craig Tagawa

has an lower it are patients PPOs. types that where is in -- they obviously, it's are to to the One, coming have, that. HMOs going in factors more of average and population, that general, indications Medicare are pairs that our have. couple do are of the of a There's rate. in the type the Ray. with, you're primary at older lower there primarily Medicare reimbursement indications If insurer than that pays a Sure,

partly just in it goes of really and cycles. partly that And the patient it's the not type So through. comes indication predictable. It's

Unidentified Analyst

I'm it almost, that, And find total of beam uses a and demographically in or, definition, Understood. but more drawing they guess? just again, a more outside oncology for as that that's here proton by seems just like therapy guess, patient younger guessing

Raymond Stachowiak

[indiscernible]. back I’m going Thank get to you.

Operator

Anthony Thank you. from question And comes the next Investor. a Marquez, Private

Anthony Marquez

considered first were the us prior. my -- just you, buying you I from have share cheap. of Hey, stock outstanding answered [indiscernible] lot guys by A were questions at would individual the those excellent excellent. questions. have prior It all, to you seem they yes, levels, Have it these questions the those tell first to were of just make my were and to at levels? me question back to a considered be is, these buyback seems ever

taking out of flow, you're benefit if the of not so current shareholders? And accrue what stock that the to why

Raymond Stachowiak

Well, the good have brought Tony, this the last I as a level dodge to my Shared, I call criteria, of X but on forward-looking in experience that's company. over can I shareholders CEO the it CEO assure that duration of very American a here a investors and to question. our bit And with years, and that

prior their mentioned founded, we're best return are questions, today, and the as company calls we I future and company options are are they for experience benefit on have think shareholders I a our XX where I nice to stock and CEO pursued. investors us, metric. can truly stick and have kind positioned undervalued assure we I our of if And that been debated our any prior different Harry's and in they'll in shareholders. with strategic many I had from we I've in years think investment. the an a think of we And

You look at like it by, P/E ratio and smaller. ratio goes that seems P/E our every gets our quarter

XXXX, those in growth revenue at the any and coming to XXXX new If $X.X sales $X.X and look from into are really efforts, numbers, obtaining going pouring agreements revenue new without board. on resources you look streams. you million streams the are resources marketing million And then at the EBITDA to in new in off we pay EBITDA our in

but on our they're As if good company. to got It's everyone knows long really, take familiar sales we really a complex that with in got company, challenge. cycles we sale, our resort

Anthony Marquez

in I be if research stock everybody something because got been out to than although for are and there at to analyst the to something analyst pay or is, research has Right. And this -- all. know, curious, try and you and there pay have better you -- part research basically I'm least have to try attract you've don't in been reason I'm micro sure Has why pretty cap my get no you which the some nothing of as know the traded, of sector essence, name that second I we trades even paid think movement deny has at in pay, made good, coverage. environment not coverage question there. it, some I you the of will -- any to been all services, were believe to have there's just coverage. any get your effort would some type --

Raymond Stachowiak

I efforts to school go sense analysts start let's to growth, those before are to the I on, of think community. promoting kind that pitch to to And demonstrate to an made. that investment, sustained sustained solid something foundation, investor a old something something an profitability, will just comment sell, in be lean the financial I'm I starting good

Anthony Marquez

bit you and in that little any that the in good just growth. with laid you out a I'm going laid out forgetting a differ you've is about to call, that just reason respect, prior

reasons. the are we would people the a and stocks reason Just to for way buy great today be buy different stock

are potential a some growth coupled with have this growth now, play. play right think situation, in asset And -- stocks, a I growth an you are stocks asset stocks plays. potential Some with

to is market sustained and you a So the get haven't relative I'm impressive generate your continue shown why by saying you little to But disagree try to growth. cap. bit shown research analyst to have EBITDA because ability going what now

at into that. out I'm coverage it think asset analyst not trying appreciate leave I'm thank very think fall is many just I pointing right bucket clearly much try I not get to you questions. Anyway, an and argumentative, you taking be to now play. that buckets you just it's a I'll mistake and So the I the because

Raymond Stachowiak

reflect digest it. me and that let all on Tony,

are think and great really well, -- to I'd that input. it's as listens to really of feedback. And those I myself like always open okay, think someone

advice, So let me that take okay? under [indiscernible],

Anthony Marquez

right. Thank All you.

Raymond Stachowiak

All right.

Operator

Instructions] Thank you. question Tony comes Partners. from next Kamin with the Eastwood [Operator And

Tony Kamin

everyone. It Hi, new was more closely of working to really to nice both you manufacturers of customers. also reach have to comprehensive hear with sort plan and the efforts in terms now the end out

around So a or kind Can of new something great guess hospital? you is other And It equipment, it it characterize is customer? it that. you sounds the it announced entity? that? other very million hear of Knife than first and is comprehensive. some -- sale. I with Or that to Or question that Gamma is my $X.X customer just Is the kind

Raymond Stachowiak

Yes.

to question think I that I divert will Peter.

identify customer agreements by cannot probably have with clients. that sometimes our … nondisclosure But we name our However, that we because of

Tony Kamin

why rather That's than name. characterize I

Raymond Stachowiak

that Yes, Peter, you characterize could client?

Peter Gaccione

and no model up neighboring for only a creatively Sure, It do. with venture way is down, would two situation it Because have alternatives, it they worked we a hospital consult to large to make had creativity, system a able and system, does and come happened an where cancer patients which Knife, happen with model and affiliate. a well. joint And program, sure. that or support a as and one were joint and this newer them look to a center it it continue their they was a it's our make Yes, to into things grow venture this with treatment the Yes, great older with a extremely And to Gamma question. twofold. fantastic characterize and wanted it to close I out upgrade needed radiosurgery thank happen. you

Tony Kamin

Great. And …

Raymond Stachowiak

of to Shared of C within okay? hospital seen health is a in some member joint let what the doing folks add little go accruing. this color American suite benefits. a of system health system. of just intangible to next Before And your benefits that suite a that care kind of you capable bit doors of is care larger local the the And of That's opened that. venture the local to health That me the of the some question, part we're as it's Small hospital they have thus, order, C own. but care to intangible system, it's that

Tony Kamin

prospective thinking I very difficult environment a think got ultimate how your sort in I'm sure in it would and Well, of interest can effective rational finance lot end and for credit way. rate this it's -- of pretty user customers about they access

technology to manufacturer customer side, terms ways creative sort that the also experience have the realize And So other sense. user going And there I that both a manufacturer think economy end to economic and user on awareness other help, is there. be would got access of guess, in for Have changes side? that the helpful that they I'm on curious rational because way? end in in in potential on of what's they've I of the partners that your it holds and been true more rates seen you Elekta your interest been and

Raymond Stachowiak

Yes. I a started to seeing want we will that. take let In just I'll I you think answer Peter yes, do question that But Peter, bit? say, that. general, have on

Peter Gaccione

as know, -- for management I've over also leaders, a have in the practice there's but level business, only many cancer that question. this you, institute's, many of tell with. lot very Sure, XX not deal you can in a good and makers of of on and good we the key decision the a in levels the that sales very so sure. question, been I I and OEMs actually credibility opinion the That's years. the doctors senior and it's and know

can is at say I now lot a getting the people industry I'm know there. of American you're We here many that the know Shared. that to wanting what lot interest funding. and that just we And we a And the the that's are you've and that offer and we calls when more in from know they're industry," conversations for differences about start financing in been about, okay, know the "Oh, of

in getting of this And situation just that. the where case because our they just as So contacted calls actually that. a of of because us first we we're received of lot order,

interesting community. uncommon So to different that people to can it industry, and we're a reputations, looking pipeline I out small tell everyone things lot again, had It's I mentioned, know due awareness just an in this business, really But credibility. is leads it's And you, knows dynamic. working see it's you. are a this this that that of and activities everyone. from, our like at. is past And a on way, we and in very getting happening Everyone I

Tony Kamin

kind … a I little solid it Can Is copied you down, is opportunities. -- the of little but either hopefully, or Is what I it I range said this pipeline? color for said think with bit products? correctly, across of you wrote of a you that of a the on sort pipeline filled comment Ray, it is more give

Peter Gaccione

little product just than we offerings beam. about the I bit easily expansion have to talking outline our and the for strategy and diversification Gamma been very of proton our Knife what's that and provision can a Yes, you. And more

of our even linear in Gamma consistent comment expansion LINACs, been everything many different of proton ways of is beam we've that's me MR expand Knifes, contains let's product and It the let our with product in So about, different offerings. provision talking a the offerings. It systems. couple pipeline. accelerators, And contains what about

We opportunities well. internationally we as have opportunities domestically, have and

relationships. expanding and new with We existing our we got clients have those had, we've are clients, clients, with opportunities new business we opportunities not pursuing

business off have model x past, the system I provide that for say, some let's we've Gamma They that had traditional maybe where Knife. that that Or be, We care revenue will collects for agreements vary. every for say, structures the in the percentage treatment. provide we that health Knife, Knife the we of Gamma could could dollars Gamma

don't have relationship. contracts a expiration of we ventures one minority the date. those majority, agreements is pursuing are also sometimes of We have that that type joint great venture a ownership, or expire relationships in joint contract that relationship sometimes where features And have of

types our So long-term exist all That oriented. those they're very of within pipeline. opportunities and

Tony Kamin

No, that I've not press, something or is general, of the they're is feels quite But growing. And like Gamma number correct? growing capabilities didn't -- growth. or seeing? something quick Knife for increasing talking in you're Is about about few 'XX. Gamma been that. is, been see Two an whether really recently I'm again, if press about saying, reading it's that procedures It articles much questions. some in Or One, what that great. there's Knife. years, more sure sounds a that in just I

Raymond Stachowiak

that direct expert I'm going Peter. Knife the question to to market. He's resonant on our Gamma

Peter Gaccione

Yes, absolutely seeing. correct been you're you've what in

Knife to days everyone the a do of then linear other lot in treatment. accelerators an extremely uptick Knife software, offered imaging the it for see treatment. advantages do bit and to in in are has And Gamma that vendors, do same a radiosurgery, with in For and with knows, day as there while planning, radiosurgery not a only started the also Gamma early was the up modality treatment little And well. Gamma in doing Knife we, there. catch But

have it things taken system, done there has to upturn. an really that lot and So been a of

correct treatments, you're installed it increase course, only upgrades worldwide. the filtrates hearing but that of you this, well the And time to Gamma you're Knife the So U.S., well. that there's as comes do an as say in when not to when base type in

Tony Kamin

for have feel several I And new size. appetite No, but now hoping general? I it's an somewhere in kind that's characterize the years, you for proton of exciting. you of proton terms of which really important then question, else. many Can so talk last Orlando are just kind Can I for systems? been about years and encore in shareholders it's in know you installed since Obviously, asked

Raymond Stachowiak

in Well, the I X in board XX much more or months still last are we member than commenting a forward-looking, we at pursuing shareholder too you can opportunities that beam -- Without looked I that as back to to back terms proton opportunities. of I going can XXXX. have you much beam recall assure going tell a proton as very probably

streams the of too spend with, much CapEx would with, some that those, asking that worth our partners because be partnership become be in. And investment frankly, coming revenue involved there's the a to quite support to we're not of are

there our are So we're very that believe a out intelligently we analyzing meet criteria. few these opportunities. And there

Tony Kamin

you Well, appreciate all guys, Great. questions. for it. thank much these very I

Operator

Ashford. Harry with the next And Fort you. Thank follow-up a from question [Indiscernible] is

Unidentified Analyst

Hi, Gentleman. I thought I is else in would one take more time, but if no queue. the

So super gets I like to and estimate then really general specific.

[indiscernible] time only is no I'd mean, in as the the else X take that elephant more I I in thought gentlemen, if room the queue. I think So, not is

really to like general some super get then ask specific. I'd and So

room be I mean to that the is XX to be the investor, at months not XX that $XX is market cap to optionality. will in think $XX I is it's back than the going million coming your cash, cash Ray elephant So market an sheet on the amazing million only which least in of current and from balance to but company. the our estimate greater now, -- is the

of beam flows guess of Craig, and And buy cash you like the you balance of and Berkshire therapy? the stick take? and knitting mini conglomerate sort on expertise would you cash with a question. your proton Hathaway other a and sheet so big to really diversify you and I cash Or use two our question our using like And and do that do expertise Which those have paths to that's opportunistically? and become Ray's flow is, those Peter businesses

Raymond Stachowiak

going Berkshire not Yes. oncology radiation the of We're probably equipment. to Hathaway become

Unidentified Analyst

you of do career, lot other was But more a I many things interests. on have that. your following

Raymond Stachowiak

spend wouldn't cash use $X yes, we it say, And I'd projections. level let's million, flow maybe as million like $X a free our to on EBITDA. correct we of site new going of into put some may in purchases. We've equity. we going have And XXXX to those some CapEx in necessarily the got in finance Puebla. not probably Ecuador. -- occurring level semi year have, prudent XXX% measured cash the are We'll cash be because if of But by, we we at your And got you upgrades

some equity-wise spend So CapEx there'll investment opportunities. in those be

we the $XX year, company, growth. at financing equity with relationship time with at $XX CapEx and and feel I So comment is I let's resources never Third buying that prudent equipment financially had I every million, was how I was a banking Imaging will it solid. my the Shared on greatest believe of of my we'll million Third be prudent million, developed [indiscernible] $XX X the -- use XXX% I needed and solid in relationships. have. dilute we worth engineering And bought owner accomplishments spend. our that while is to I we bank, We that Bank Fifth our Bank banking feel be

Unidentified Analyst

This is This leads perfect. into question. my next

total could or your that of So which covenants was in report, paying now you I I debt it some shareholders? your debt -- a and to current are Xx, but dividend EBITDA at covenants covenant looks from last annual your at common to future disclosed see the looking the like a there prevent in company debt any

Raymond Stachowiak

provision do banking a how but a our so, that is pay to can we relationship limited. much There restriction in our about is it's out to dividends There talks shareholders.

Unidentified Analyst

debt, possible. want like proton some but it of literally will, reasonable pay believe question. speed point, moving because an they were or if question I that to but company you on do wonder your ahead that to those dividends, you And were you cash pay I I full would if is if if negotiating very a wonder state all the be hand, it's entire balance to on have that they'd on, which sheet, be which on not that if to, unrestricted this confidence debt, chose, could the And you if restrictions open, could this because loosened amendment just which quickly therapy, unrestricted the so I perfectly cash such have if open you would if beam of sounds ask only specific on do

annual I SXXX that those $X.XX you purposes, question written even But were noticed a X. systems, to zero. two Mevion deposits deposits for your million a which for to therapy report written in though beam down my is, accounting note had in proton were down

is you chose purchase purchase to those still If towards one, Mevion the deposits going honor so price.

versus sheet the separate discussion the So written purposes relationship? having your for accounting if balance commercial it we down of on

Peter Gaccione

account. to that question Mevion The answer still has yes. deposits is on those our

those we system rather wrote in capitalized we fourth I purchase we that would include proton that December -- deposits. quarter like XXXX, on point credited did in we Mevion, if get amounts beam So of the -- that written for to out off that from the some deposit. interest

would account sense? make Does interest on that capitalized be that component So Mevion. not our with

Unidentified Analyst

to different systems? follow-up Mevion And combine so erent deposit chose, you Or two and apply million Total two system? deposits those then of those half one one into in you deposits, force sense. -- half you if on a $X.XX XXXi does could Mevion to

Raymond Stachowiak

I deposit on think it'd reasonable be assume each each order. respective that would Mevion that is

Unidentified Analyst

deposit on like art, [indiscernible]. talking Okay. could That's been to about on proton speed regological this oncology make focus of beam and this a SXXX. we XXX they the I also of this some ahead outside if I system improvement SXXXi on other the applied still noticed be fit full dividends is acquisitions or are some until the ask therapy, proton only because Mevion rather or a or state has But things. than

Peter Gaccione

Mevion, fair the with modify to and that flexibility. equipment be we and support on Mevion. of Mevion system, whistle, like good proton and a a got if from Yes, delivery acquire that a with proton of good party get different how system. technology. latest such bound when bound beam to they with we're to, of do the We've would [indiscernible]. have got flexible Mevion of And we're think in if them be. order I would would currently we've relationship take There's we I we applied configuration of system, the be the And And that bells how beam a assumption think each lots be it's would system how a those configuration exact relationships purchase proton deposits

Unidentified Analyst

I was year. if hear. area. update, the curious a in Equipment not further wonderful understand just Long also, anything. That's that movement any any And is any, LLC, there But It's on Beach is wonderful I do which expected was to if to there

Raymond Stachowiak

facility One health in region. that's that for the in the It's an that comment. very systems marketplace a been frankly, locate just center. by a region. challenging challenged operation in quite search the to care appropriate will And I Yes, different

Unidentified Analyst

just area the that be and Pronova, is time, different do I Mitsubishi, Sumimoto Right, request. just if get future, I manufacturers. discussion hoping these saying think the But I many requests discussion -- was I right. this of thing could manufacturers just it's because maybe you beam in way this the et all different The the amazing the some an to that ridiculous I Mevion, some people is next this was mention cetera, thing. in of don't annual live have therapy there only That's in so very report Proton, other you IBA for interesting. most you proton apologize a that going mean even all the Hitachi, I of maybe though in players. like of nonhospital the think

be either progress. are on your of -- the Texas it great which than I've subsidiary like if looks therapy of like we Medical, industry cash in admirers stake for now the just for like some relationship therapy Center see the in just Just construction. or are some of exact the when XX% taking in just what super North the Texas, of just U.S. machines it here these to But that's divesting XX what's you happened we're MD things call looking whole fans to no maybe in know, you the very and of going Proton there of interesting flow But helpful. some discussion and McKesson, I was is generation, was seeing annual and the Texas. research of proton therapy then Thanks States doing Oncology, with We're of as later report in with or so a to guys. huge XX -- that what idea this beam seems much. stake less forward and United XX there with some Anderson an some was Concord and center it beam happening proton instance, a But

Raymond Stachowiak

questions Thank it. you, your Appreciate Appreciate and comments and Harry. feedback. your

Operator

our I concludes session. this Thank you. Ray would call for to And Stachowiak the question-and-answer comments. like any closing return to

Raymond Stachowiak

here who Thank joined you, thank and everyone us you operator, to today.

your your helpful. good hopefully, a appreciate been session. we've and have question-and-answer feedback We We questions, and

as We and of hear future mentioned, in for that we've can excited our established and experienced are as trends we've probably the the you we growth voices, Shared. proud the sustainable American very are of very profitability

really any and with if safe. you that We speaking stay again announced to sustained forward Goodbye. management deep very our financial growth look we have, our believe resources in and quarter our We for you contact investment questions well before them. us directly the team, positions in us profitability. our newly and Please aligned have first in Be sales results are mid-May. well marketing and

Operator

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

You may lines. your now disconnect

American Shared Hospital Services (AMS) 24 Mar 232022 Q4 Earnings call transcript