American Shared Hospital Services

Good day and welcome to the American Shared Hospital Services second quarter 2025 earnings conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. To withdraw your question, please press star then two. Please note this event is being recorded. I would now like to turn the conference over to Kieran Smith with PCG Advisory. Please go ahead.

Thank you, Megan, and thank you, everyone, for joining us today. AMS's second quarter 2025 earnings press release was issued today before the market opened. If you need a copy, it can be accessed on the company's website at www.ashs.com and press releases under the Investors tab. Before turning the call over to management, I would like to make the following remarks concerning forward looking statements. Please note that various remarks that may be made on this conference call about future expectations, plans, and prospects for the company constitute forward looking statements for the purposes of safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Actual results may vary materially from those indicated by these forward looking statements as a result of various important factors, including those discussed in the company's filings with the SEC. This includes the company's quarterly report on Form 10-Q for the three-month period ended March 31, 2025, and annual report on Form 10-K for the year ended December 31, 2024. The company assumes no obligation to update the information contained in this conference call. Before I turn the call over to Ray, I'd like to remind everyone about our Q&A policy, where we provide each participant the time to ask one question and one follow-up. As always, we'll be happy to take additional questions offline at any time. With that, I'd now like to turn the call over to Ray Stachowiak, Executive Chairman. Ray, please go ahead.

Thank you, Karen, and good afternoon, everyone. Thanks for joining us today for our second quarter 2025 earnings conference call. I'll begin with some opening remarks, then turn the call over to Gary Delanus, our CEO, for additional detail, followed by Scott Strack, our CFO, for a financial review, our second quarter and first half 2025 results. Following our prepared remarks, we'll open the call for questions. We are very pleased to see that volumes have continued to improve and second quarter 2025 revenue increased 16% sequentially from last quarter, which is driven by the expansion of our direct patient services segment and additional international business development initiatives. We're continuing to see the benefits from our transition from a cancer treatment equipment leasing focus to a more patient-centric service model. I'm also happy to see treatment volumes continuing to pick up, and we look forward to a stronger back half of 2025. I'd like to point out for our long-term minded investor base that for the past four consecutive years, we've shown significant revenue growth. which has almost doubled since 2021. And for the past three years in a row, we've been profitable. It's important for investors to bear in mind that on a short-term basis, there will be normal fluctuations due to the specific nature of our business. But over the medium or longer term, we're in a very good position to continue our track record of strong, profitable revenue growth. I urge investors to focus on the long-term overall growth opportunity as we execute on our strategic initiatives and upcoming milestones. We have set the stage for long-term outperformance as we execute on our growth strategy and work towards building significant shareholder value. I'll now hand the call over to Gary and Scott, who will walk you through our overall business robust business development pipeline, exciting strategic growth opportunities, and the focus on operational and cost efficiencies that drive our confidence in the long-term trajectory of our company. With that, I'll hand the call over to Gary Delanas for additional details.