AMS - Earnings call 3 2023 | American Shared Hospital Services

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Operator

Good day, and welcome to the American Shared Hospital Services Third Quarter 2023 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, Jason, and thank you to everyone joining us today. earnings was XXXX at this Quarter p.m. X:XX Third press issued release afternoon AMS' Time. Eastern

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

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

and announce I'd their with to limit to Ray, Before one everybody this going to We're that instituting to I call. ask a questions follow-up. turn call the Q&A question quarter's like we're new policy over one to

happy over I'd like any Stachowiak, Chairman. to to to be turn additional take always, at that, call questions now Ray? time. Ray Executive the With As offline we'll

Raymond Stachowiak

then will results.Following your CFO, third Hiatt, year-over-year Officer. the we'll third good and and million then third quarter another conference call XXXX our earnings some review the our American X.X% increasing Peter revenue Gaccione, Chief I'll for quarter you, solid $X.X for Executive with financial call to questions. Robert Thank Shares for had American remarks, opening to of prepared afternoon, quarter. begin everyone. remarks with the turn the over us the call. for you Shared give today by a joining Thank open Stephanie, quarter,

our expense We we review per X.X% significantly totaled of by share. $X.XX on costs income continued continue new This year positive a maintain last generates down and compensation to also growing third or increasingly even direct from our the $XX.X net approximately the reported and tight quarter, business end, heavily pandemic. and of consistently $XXX,XXX, invest margin income per or diluted $X.X interest interest million rein included cash of share. to gross We've million.During to balances grew activities engaged in quarter net AMS $XXX,XXX $XXX our firm flow compensation throughout a consulting to offset on the services practices.At cash cash the balances. a

we've our we've our With This AMS the Cancer decisions mentioned we're be expected look about those on invested to returns what new look noninvasive deliver working so all on of these more installations addition, quarter, with highest advanced VMAT, newest the are could on will to footprint returns opportunities.We're forward for progressed in I to call. within offerings of the have sales comfortable of our I've forward the these and advanced $XXX,XXX other the a linear job.I'm be be advancing would feel that new these be catchment treatment by and are X we're at will second first higher.In up opportunities, which excitement most the digital especially system these patients in we Puebla, we we That's we team is need details income projects Without net share and $XXX,XXX domestic the conveyed This are more team when underway. you to closing, roughly them.In opportunities. this at return and Knife to most approximately with invested Together, venture radiosurgerbility Mexico, unique constantly far in year. invested therapy fiduciary area.At of it in we've radiation expected the to Gamma the clearer to approximately expect will of unique some treatments, excited system areas on. AMS. working the well. and Peter? for that that revenue announcing responsibility $XXX,XXX serving say of expand complete. the I will so will installation call quarter, treatment complete radiation joint expenses, I been quarter, potential opportunities can't surgery.I'm time.Internationally, our to the hope the many treatments I work in X ICON third cancer management from totals our $XXX,XXX Center our well this turn month. treatment the us our it and the on. invested.The Ecuador, projects. and has and cash. early installation our advanced generate that investment for their During in unique have At Board that of stream We upgraded I'll only the these $XXX,XXX, business unique of tell the made against will over with we accelerator Gamma restart we a we're continued this, patient marketing Ecuador the treatments this of Peter. that, last radio you Knife when is our appropriate opportunities in very start equipment the our XXXX, expanded proud region Cancer wish patient Linac weighing all new uses in locations here the very IGRT at seriously, installation take and center In details,

Peter Gaccione

afternoon, you, Thank Ray, good and everyone.

this our sales continued which grow. integration to key our strategic to processing the growth its the and at prospects.As attribute We team, the third projects that targeted OEMs our with stride about, sales closer have sales announcing forward and pipeline talked we quarter, time. the are that solutions on look several necessary through has hit During financial Ray expanded to cycle we appropriate

X latest opportunities annual May addition, customers Group, been among sources. addition. year, new in launched our Knife we've was the These Gamma these to early Expo orders alternatives the first be quarter, dedicated to other third second CNS, turn XX new equipment the Proton extensions conferences U.S., the of AMS full will include existing helped great include Knife help our approximately for Peru year. for signed website upgrades Gamma great new built I improve existing the with These and referral and Conference year. in call Leksell they in are are Knife and He X new the customers, the we've the quarter, the utilization upgrades good the fourth time, in several cancer and also procedures financial product supported Knife third U.S. obtain financial to has as both In technology Women lease as which with fully installations extensions has great PTCOG also ongoing advocate pipeline with the and after depth we model, on subsidiary. an at levels X Radiotherapy as the as other opportunities known a in neurology, conference quarter, is financing Espirit, International for third Therapy new to we he year, a and the for well. well first the by seventh a sites.In increased agreement we've when activity completed as treatment the to the X% opportunity the largest during on QX.We're Therapy dentistry services.Our known of has as and the for continued attended over a as in and in-house to that exhibitor closing, new momentum other newer was with business AA&S, quarter the neuroscience a well.Also and the we announced meet the the existing Ecuador developed business in customers, in AMS' creative radiosurgery working this and our relationships. in the Cooperative it improving to secure has society the The March, which with Radiation did this Society site this American Neurological In advanced only to access shows opportunities radiation Society, and booth now where of of for was and team, Congress in GKF, agreement customer Bob overview. the the conference, trade and as world. will this Gamma financing Espirit internationally This of several in breadth position. staffed both September.Recently, extensions new AMS Not the the professionals offers a American ASTRO Gamma period-over-period customers and strong third such at attendance in Neurosurgical added Dental Congress Surgeons and our of a Congress.We OEMs.At We've we Association known the been also oncology us partners Oncology Conference,

Robert Hiatt

everyone. afternoon, good and Peter, you, Thank

therapy the quarter was Knife current equivalents XX.X% from administrative increased XXXX, business $X.XX $XX.X forward $X.XX revenue opportunities, as year $XX,XXX of was income revenue revenue net includes Adjusted increase opportunities.As ago, X.X% quarter fluctuation $X.X in or Knife million well quarter million XXXX. $X.X interest compared been in diluted This of Ray expenses, fractions, XXXX decrease $X.X quarter due expense million million. Total marketing to quarters an $XXX,XXX year provision quarter The period to interest to due X.X% an million ago, We an new to expense was pursuing proton XXX the American reflects recorded increased Jason, $XXX,XXX the third approximately at $XXX,XXX tax last subsidiaries the expenses.Net of an EBITDA, an Selling and reimbursement.Total of quarter We revenue the turn increased in outstanding the per progress XXXX and quarter XXXX third non-GAAP XX to to million revenue third $XXX,XXX to of or presentation. with compared differences.Net to third quarter for ahead. of was margin measure approximately ago decrease the higher million permanent equity, was in as gross talked income in administrative fractions. third a in in a system year restricted $XXX,XXX expense cash of tax cash revenue income the for XXXX, expenses. million that sales million to lower within Domestic and back were income tax $XX.X were would costs period due today. the invested $X.XX open period domestic formal updating end to in margin modest at which XXXX. we've X.X% you $X.X was year quarter million per last typical is and $XX.X arising of $X.X and million respectively. XXXX interest returns the $XXX,XXX to proton as earnings, for XXXX common a same and XX.X% outstanding for now on $XX,XXX Shared $X.X compared year. to which million, XX, quarter selling at of also and to third foreign the XX.X% December in compared primarily or increased operating compared was decrease Services were the XXXX.Shareholders' higher X.X% increase look was about, XXXX weighted of increase higher.Fully compared XXX X.X% on a This third quarter $XXX,XXX reimbursement.Total and the financial the of up compared in primarily an interest X.X% for due quarter to million in for shares share balance.Operating or $X.X by diluted we have third quarterly last Florida of or $X.X attributable in return million year. XX, the the within to of the us At adjustments in to expense increase and to and average $X.X decrease new the million income December was of compared in our income and Gamma you quarter Knife $XXX,XXX variable quarter, of the business procedures million a decrease of third concludes share interest of income the typical like higher per the quarterly compared or $X Gamma a company's $XXX,XXX $XXX,XXX Thank increases Hospital primarily overall the $X for per approximately range procedures third $X.X opportunities. year. growing average joining in to the of XXXX. a higher for in is questions. part average XXXX, fluctuations.Gross third Without in continued the therapy Gamma $X.XX to third third rate $X by we'd quarter procedures, the call XX.X% to This business in quarter third it increase The interest share fractions the or quarter to quarter company's The selling and compared diluted of for increases XX, administrative for X,XXX, to was third rate was to combined said, share these $XX.X debt, outstanding new for of in increase is increase XXX the offset you was Third cash our of advancing of million on range. noncontrolling to quarter. decrease in company's period. cash, net $X.X the in for to excluding to The compared September compared in offset or revenue revenue ago XX.X%.Third support million, invested Ray international of the the due the for

Operator

to [Operator roster. instructions] simpler At this time, we'll pause momentarily

from Eastwood comes question first Kamin from Our Tony Partners.

Anthony Kamin

this is in mentioned you share trading were the been I Ray, appreciative cash book stock management as many off value. shares just down per trading below now always the at per many, I've for X The under I compensation tight XX% and points, strike high. last range. are point, The you is many, of extremely supportive an know, now XX% really me. But shareholder think, stock XX years, its stock a since its XX% of has in share. It's call. The year hiring traded a conference you the noted committee. And years. that

more company really buyback. much that I much one the think the time more $X for seriously has consideration are shareholders past. urge it's different to consideration, for suggestions you the a a to done X, much would in some I million that Board in guys give been that do really the a share take responsibility.My way more

so value spend the you the lot kind again, go committee performance, towards move kind want company, you to think, to presumably compensate know share if what cash If are metrics, and it's feel stock to really based that alternative, it you've made. stock As case, don't you to dividend that can the to repurchases. you you I well and difference question the Board, the indicated, of or of and compensation be value dividend many repurchase miserable until quite Board, you're give shareholders do so that's on regular know I management the to the suggest undervalued. of that below the cash. decades of really cash stock second with the chronic my is is I that would is, a feel I a company Anyway, things the investments getting address give doing to value in and stock you're from statements a you extremely I or towards with can the accretive. which becomes past, the that for either the of consideration a dividend time then would on a be below said far time right Wouldn't expecting big this book XX% believe

Raymond Stachowiak

responsibilities cash today. have the always balances us of evaluating been it our of of we're the the these are And to and position would credit that lines is, available pipeline greatest for the joining take activities industry. here very intake, increasing And capital-intensive formula have. that increasing. expected we And at for has thanks again to we projects. be a also our slowly our capital the business required and have and very we're capital Tony, and we shareholders we're We And increasing pipeline our Yes. our do return looking seriously. steadily rate our we our taking constantly we're to comparing available, that what's shareholders. order And our intake orders our in is in is growing capital order our

let's kind also I had second invested. stock As far recent $XXX,XXX we a of improve our undervalued. an misunderstood in recent, of and had think, of, isolated a levels. of thinly think very our activity of blips is I market the loss, mentioned, in our often activities of And had doing traded. some to I've It's expense exception, stock I would our a type we our the consider I price, I the item. We're we some as an really I considering particular, stock decline, say, what in quarter, quarter.We onetime extra second like quarter, as believe And second couple think $XXX,XXX reported the we price think

company so. allow wish, pike. me just could detail can Tony, profit or our reported wish have more in all if higher so.So invested opportunities. I I unique share we into do I disclose $XXX,XXX not say does is public And our could that profit. to being This touch, is the a see not I do a in been keep I down But quarter, had we business what stock undervalued. would these the I coming

think we've I grow established we expect capital and company. We're We're incrementally. future, profitable our that a the to the performance pipeline with occur. going the intake and deployment In been to has to more expected expect be growing, receiving and steady. we're order we the

Anthony Kamin

Well, Ray, your rationale understand wanting as keep I to cash. mentioned, for I

really really stock alternative, other nothing than which regular cost dividends. will you some other fees next The minor administrative to is

rewards to year. it it's every dividend shareholders shares right what term like stock, so they I so this many that their And outstanding get think does, to on the company can long be to that not now. hold has

So I that. should consider really think your Board

you that were And think sort follow-up, if If put rewards of in to regular I as that you would. XX% to it a stock I'd like level you that shareholders. address your my dividend,

Raymond Stachowiak

noted Duly Okay. comments. your We it, appreciate Tony.

Operator

We private Michael a question investor. have from Cooper,

Michael Cooper

quarter, Good guys.

to or I go cash Now the be with your in would would To actually dividends regard growth opportunities were as buybacks. me, way the you that maybe. forward, disbursing of as not signal that that vote not robust

looked So around Where is the of that acquiring you what another flavor other legal argument. that's Is question in give invested investments? the investment expenses process. opinion have of go? those you does the leases. that visits, that expenses, Is just kind any My site on for side salaries on the Can $XXX,XXX like those internally? that

Raymond Stachowiak

necessary our opportunities.So I've Michael, opportunities go costs. as entrepreneur necessary that expensed quarter of would obtain you, in that with XXX,XXX Michael, we the you, to your participating upfront X worthwhile. time. third filings beneficial to far your for and of very business regulatory to and question, probably costs evolved things, process associated between for second legal we've decades can answering has through feel other close be There's if that business weren't Thank enhance and Thanks ability The And they I been getting been opportunities, not now. invested, has gone been and the today say. a take the investor money can question. tell costs deal, unique an just and consultants the that's for lot I'll that I few as to are for been There's advisers the the money about your to the a and

Operator

back in no question-and-answer our Ray There turn concludes are Stachowiak over more any conference for questions like queue. to to I closing the This remarks. the session. would

Raymond Stachowiak

pipeline I Jason. We're have really in a our with capital Thanks opportunities joined deployed. future. ready Thank to position, be today. we have, been who we believe stronger for financial you, never excited American about everyone us shares that position the

next But as mentioned and tuned. if before March. us So year-end you evening. XXXX on them. directly feel have have contact free any questions well, already, stay I've call please We'll Be don't you with hesitate, speak please in to a great Goodbye. our

Operator

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

may disconnect. You now

American Shared Hospital Services (AMS) 13 Nov 232023 Q3 Earnings call transcript