Fri, Apr 4, 9:20 PM (22 days ago)
### Summary **Financial Performance:** - **Revenue:** $28,340,000 (2024) vs. $21,325,000 (2023), a 32.9% increase. - **Net Income:** $2,186,000 (2024) vs. $610,000 (2023), a 258.4% increase. - **Earnings per Share (EPS):** $0.33 (2024) vs. $0.10 (2023). **Revenue Breakdown:** - **Leasing Segment:** $15,629,000 (2024) vs. $17,772,000 (2023), a decrease of $1,988,000. - **Retail Segment:** $12,556,000 (2024) vs. $3,553,000 (2023), an increase of $9,003,000. **Operating Expenses:** - **Costs of Revenue:** $19,155,000 (2024) vs. $11,981,000 (2023), a 59.9% increase. - **Selling and Administrative Expense:** $7,407,000 (2024) vs. $7,022,000 (2023), a 5.5% increase. **Strategic Overview:** - **RI Acquisition:** Completed on May 7, 2024, acquiring 60% interest in three radiation therapy facilities in Rhode Island. - **Puebla, Mexico:** Began treating patients in July 2024, contributing to the retail segment's revenue increase. **Future Outlook:** - **Market Position:** Expanding proton beam radiation therapy (PBRT) and linear accelerator (LINAC) facilities. - **Debt Management:** Amended credit agreements to include new term loans for capital expenditures and the RI Acquisition. **Risk Factors:** - **Customer Concentration:** Two customers accounted for 35% and 27% of 2024 revenue. - **Regulatory Risks:** Dependence on CMS reimbursement rates and potential changes in healthcare legislation. **Financial Condition:** - **Cash and Cash Equivalents:** $11,275,000 (2024) vs. $13,808,000 (2023), a decrease of $2,533,000. - **Long-Term Debt:** $20,182,000 (2024) vs. $11,041,000 (2023), an increase due to new term loans. **Market Position Changes:** - **Segment Performance:** Leasing segment revenue decreased, while retail segment revenue significantly increased. - **Operational Efficiency:** Increased costs of revenue due to new facilities and maintenance expenses.