The sharp decline in margins, covenant breach, and deep EPS miss signal operational and liquidity risks. Monitor upcoming filings for updates on debt waivers and whether the strategic shift to direct patient care can reverse leasing segment declines. The stock's low market cap amplifies volatility risk.
Price Chart
Executive Summary
American Shared Hospital Services reported a decline in full-year 2025 revenue to $28.1M from $28.3M in 2024, with a net loss of $1.6M versus prior-year net income of $2.2M. The Q4 2025 results showed a significant drop in EPS to -$0.09 (missed consensus by 800%) and a 14.8% YoY revenue decline, driven by expiring Gamma Knife contracts and lower PBRT volumes.
Key Financial Metrics
Key Facts
- Full-year 2025 revenue decreased 0.9% YoY to $28.1M from $28.3M in 2024
- Net loss attributable to AMS was $1.6M in 2025 vs. net income of $2.2M in 2024
- Q4 2025 revenue declined 14.8% YoY to $7.7M from $9.1M
- Q4 2025 EPS was -$0.09, missing consensus of -$0.01 by 800%
- Gross margin fell to 12% in Q4 2025 from 35% in Q4 2024
- Cash balance dropped to $3.7M from $11.3M at year-end 2024 due to $7.5M in capex
- Company failed to meet financial covenants on its credit facility as of Dec 31, 2025
Financial Impact
Revenue down 0.9% YoY, net loss of $1.6M vs. prior-year net income of $2.2M, Q4 EPS miss by 800%
Risk Factors
- Failure to secure lender waivers for breached debt covenants could trigger default
- Continued decline in equipment leasing revenue due to contract expirations
- Lower-margin direct patient care segment diluting overall profitability
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001437749-26-010560 |
| Document: asha20260331_8k.htm | 0001437749-26-010560 |
| Document: 0001437749-26-010560-index-headers.html | 0001437749-26-010560 |
| Document: 0001437749-26-010560-index.html | 0001437749-26-010560 |
| Document: 0001437749-26-010560.txt | 0001437749-26-010560 |
| 8-K Data (Synthetic) | 0001437749-26-010560 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 13, 2026 10w ago | 8-K | $1.60 $1.47 | ▼ −7.84% | ▼ −6.10% | $1.27 (−20.63%) |
Jul 28, 2026 13w ago | 8-K | $1.53 $1.51 | ▲ +1.31% | ▲ +6.33% | $1.27 (+16.99%) |
Jun 30, 2026 17w ago | 8-K | $1.58 $1.54 | ▼ −2.53% | ▼ −1.50% | $1.27 (−19.62%) |
May 14, 2026 23w ago | 8-K | $1.58 $1.42 | ▲ +10.13% | ▲ +9.27% | $1.27 (+19.62%) |
May 14, 2026 23w ago | Press Release | $1.58 $1.42 | ▼ −10.13% | ▼ −9.27% | $1.27 (−19.62%) |
May 7, 2026 24w ago | DEFA14A | $2.01 $1.37 | ▼ −31.84% | ▼ −34.98% | $1.27 (−36.82%) |
Apr 30, 2026 25w ago | DEFA14A | $1.45 $1.64 | ▲ +13.10% | ▲ +8.14% | $1.27 (−12.41%) |
Apr 24, 2026 26w ago | 8-K | $1.32 $1.35 | ▼ −2.27% | ▲ +2.68% | $1.27 (+3.79%) |
Mar 31, 2026 30w ago | 8-K | $1.45 $1.34 | ▲ +7.59% | ▲ +17.01% | $1.27 (+12.41%) |
Mar 31, 2026 30w ago | Press Release | $1.45 $1.34 | ▲ +7.59% | ▲ +17.01% | $1.27 (+12.41%) |
US Market Status
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