Filing Flows › American Shared Hospital Services (AMS) › Q4 2025
American Shared Hospital Services (AMS) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 31, 2026
American Shared Hospital Services (AMS) reported revenue of $7.7M for the fourth quarter 2025 (Q4 2025), -15% from a year earlier and +8% from the quarter before. Operating margin was -18.1%, net loss $1.0M (13.0% of revenue).
American Shared Hospital Services, Q4 2025: revenue $7.7M (-15% year over year), operating margin -18.1%, net loss $1.0M, operating cash flow −$704K. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $7.7M | +8% | -15% |
| Operating profit | −$1.4M | — | — |
| Net earnings | −$1.0M | — | — |
| Operating cash flow | −$704K | -142% | -357% |
What changed
Revenue was $7.7M in Q4 2025, down 15% year over year and up 8% from the previous quarter. Patient Income was the largest line at 63% of revenue.
Gross margin was 11.7%, down 23.6 points from Q4 2024. Operating costs exceeded revenue by $1.4M, an operating margin of -18.1%. Operating expenses fell 54% while revenue fell 15%. The fastest-growing cost line was SG&A (+16%). The quarter ended with a net loss of $1.0M, wider than the previous quarter's $329K loss. Minority interests bore $377K of it: to shareholders the quarter was a loss of $631K.
Operating cash flow was −$704K. Non-cash charges added back $1.3M of depreciation and amortization and $100K of share-based compensation. Working capital and other items used $1.1M. Capital expenditures of −$2.0M left free cash flow of $1.3M.
Questions
What was American Shared Hospital Services' revenue in the fourth quarter 2025?
American Shared Hospital Services (AMS) reported revenue of $7.7M for the fourth quarter 2025 (Q4 2025), -15% from a year earlier and +8% from the quarter before.
Was American Shared Hospital Services profitable in the fourth quarter 2025?
Operating loss was $1.4M (-18.1% of revenue) and net loss $1.0M.
Source: American Shared Hospital Services 10-K on SEC EDGAR.