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Side-by-side financial comparison of AMERICAN SHARED HOSPITAL SERVICES (AMS) and EXAGEN INC. (XGN). Click either name above to swap in a different company.
EXAGEN INC. is the larger business by last-quarter revenue ($16.6M vs $7.7M, roughly 2.2× AMERICAN SHARED HOSPITAL SERVICES). AMERICAN SHARED HOSPITAL SERVICES runs the higher net margin — -8.2% vs -28.1%, a 19.9% gap on every dollar of revenue. On growth, EXAGEN INC. posted the faster year-over-year revenue change (21.8% vs -14.8%). AMERICAN SHARED HOSPITAL SERVICES produced more free cash flow last quarter ($-2.7M vs $-3.1M). Over the past eight quarters, AMERICAN SHARED HOSPITAL SERVICES's revenue compounded faster (21.7% CAGR vs 7.4%).
American Shared Hospital Services offers turnkey outsourced solutions for advanced radiotherapy, stereotactic radiosurgery and diagnostic imaging equipment to healthcare facilities. It eliminates high upfront capital costs for hospitals, operates primarily across North America, and also serves Latin America and select Asia-Pacific markets, catering to both public and private hospital segments.
Exagen Inc. is a clinical diagnostics company specializing in developing, manufacturing, and commercializing proprietary testing solutions for autoimmune, rheumatic, and related chronic diseases. It mainly operates in the U.S. market, serving healthcare providers and patients to support accurate disease diagnosis and treatment monitoring.
AMS vs XGN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $7.7M | $16.6M |
| Net Profit | $-631.0K | $-4.7M |
| Gross Margin | 11.7% | 55.4% |
| Operating Margin | -18.1% | -29.9% |
| Net Margin | -8.2% | -28.1% |
| Revenue YoY | -14.8% | 21.8% |
| Net Profit YoY | 52.5% | -24.2% |
| EPS (diluted) | $-0.09 | $-0.21 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $7.7M | $16.6M | ||
| Q3 25 | $7.2M | $17.2M | ||
| Q2 25 | $7.1M | $17.2M | ||
| Q1 25 | $6.1M | $15.5M | ||
| Q4 24 | $9.1M | $13.7M | ||
| Q3 24 | $7.0M | $12.5M | ||
| Q2 24 | $7.1M | $15.1M | ||
| Q1 24 | $5.2M | $14.4M |
| Q4 25 | $-631.0K | $-4.7M | ||
| Q3 25 | $-17.0K | $-7.1M | ||
| Q2 25 | $-280.0K | $-4.4M | ||
| Q1 25 | $-625.0K | $-3.8M | ||
| Q4 24 | $-1.3M | $-3.8M | ||
| Q3 24 | $-207.0K | $-5.0M | ||
| Q2 24 | $3.6M | $-3.0M | ||
| Q1 24 | $119.0K | $-3.4M |
| Q4 25 | 11.7% | 55.4% | ||
| Q3 25 | 22.1% | 58.4% | ||
| Q2 25 | 23.1% | 60.4% | ||
| Q1 25 | 15.4% | 58.9% | ||
| Q4 24 | 35.3% | 62.1% | ||
| Q3 24 | 19.6% | 55.8% | ||
| Q2 24 | 35.0% | 60.1% | ||
| Q1 24 | 41.1% | 59.6% |
| Q4 25 | -18.1% | -29.9% | ||
| Q3 25 | -4.8% | -18.0% | ||
| Q2 25 | -7.7% | -15.3% | ||
| Q1 25 | -21.3% | -21.7% | ||
| Q4 24 | -20.2% | -24.8% | ||
| Q3 24 | -12.7% | -37.3% | ||
| Q2 24 | -0.0% | -17.2% | ||
| Q1 24 | -1.6% | -20.8% |
| Q4 25 | -8.2% | -28.1% | ||
| Q3 25 | -0.2% | -41.1% | ||
| Q2 25 | -4.0% | -25.8% | ||
| Q1 25 | -10.2% | -24.2% | ||
| Q4 24 | -14.6% | -27.5% | ||
| Q3 24 | -3.0% | -40.2% | ||
| Q2 24 | 51.0% | -19.7% | ||
| Q1 24 | 2.3% | -23.3% |
| Q4 25 | $-0.09 | $-0.21 | ||
| Q3 25 | $0.00 | $-0.31 | ||
| Q2 25 | $-0.04 | $-0.21 | ||
| Q1 25 | $-0.10 | $-0.20 | ||
| Q4 24 | $-0.21 | $-0.20 | ||
| Q3 24 | $-0.03 | $-0.28 | ||
| Q2 24 | $0.55 | $-0.16 | ||
| Q1 24 | $0.02 | $-0.19 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $3.5M | $32.2M |
| Total DebtLower is stronger | $17.4M | $22.9M |
| Stockholders' EquityBook value | $24.0M | $17.4M |
| Total Assets | $55.5M | $58.0M |
| Debt / EquityLower = less leverage | 0.72× | 1.31× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.5M | $32.2M | ||
| Q3 25 | $5.1M | $35.7M | ||
| Q2 25 | $11.1M | $30.0M | ||
| Q1 25 | $11.2M | $11.2M | ||
| Q4 24 | $11.0M | $22.0M | ||
| Q3 24 | $13.8M | $22.0M | ||
| Q2 24 | $14.2M | $24.5M | ||
| Q1 24 | $12.8M | $27.3M |
| Q4 25 | $17.4M | $22.9M | ||
| Q3 25 | $18.2M | $22.9M | ||
| Q2 25 | $19.1M | $23.0M | ||
| Q1 25 | $19.9M | $20.9M | ||
| Q4 24 | $20.4M | $20.2M | ||
| Q3 24 | $14.4M | $20.3M | ||
| Q2 24 | $15.1M | $20.3M | ||
| Q1 24 | $15.6M | $19.5M |
| Q4 25 | $24.0M | $17.4M | ||
| Q3 25 | $24.6M | $18.1M | ||
| Q2 25 | $24.5M | $21.0M | ||
| Q1 25 | $24.6M | $6.4M | ||
| Q4 24 | $25.2M | $9.5M | ||
| Q3 24 | $26.4M | $12.9M | ||
| Q2 24 | $26.5M | $17.6M | ||
| Q1 24 | $22.8M | $20.0M |
| Q4 25 | $55.5M | $58.0M | ||
| Q3 25 | $59.6M | $62.8M | ||
| Q2 25 | $63.5M | $58.8M | ||
| Q1 25 | $63.3M | $40.3M | ||
| Q4 24 | $60.2M | $44.7M | ||
| Q3 24 | $63.3M | $43.6M | ||
| Q2 24 | $60.8M | $49.3M | ||
| Q1 24 | $50.1M | $50.8M |
| Q4 25 | 0.72× | 1.31× | ||
| Q3 25 | 0.74× | 1.26× | ||
| Q2 25 | 0.78× | 1.09× | ||
| Q1 25 | 0.81× | 3.27× | ||
| Q4 24 | 0.81× | 2.12× | ||
| Q3 24 | 0.54× | 1.57× | ||
| Q2 24 | 0.57× | 1.15× | ||
| Q1 24 | 0.68× | 0.98× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-704.0K | $-3.0M |
| Free Cash FlowOCF − Capex | $-2.7M | $-3.1M |
| FCF MarginFCF / Revenue | -34.8% | -18.4% |
| Capex IntensityCapex / Revenue | 25.7% | 0.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-8.5M | $-14.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-704.0K | $-3.0M | ||
| Q3 25 | $1.7M | $2.9M | ||
| Q2 25 | $-372.0K | $-2.9M | ||
| Q1 25 | $2.5M | $-10.7M | ||
| Q4 24 | $274.0K | $363.0K | ||
| Q3 24 | $472.0K | $-2.2M | ||
| Q2 24 | $1.3M | $-2.4M | ||
| Q1 24 | $-1.9M | $-9.0M |
| Q4 25 | $-2.7M | $-3.1M | ||
| Q3 25 | $-2.0M | $2.7M | ||
| Q2 25 | $-2.3M | $-3.1M | ||
| Q1 25 | $-1.5M | $-10.8M | ||
| Q4 24 | $-4.4M | $217.0K | ||
| Q3 24 | $-407.0K | $-2.3M | ||
| Q2 24 | $70.0K | $-2.6M | ||
| Q1 24 | $-3.0M | $-9.1M |
| Q4 25 | -34.8% | -18.4% | ||
| Q3 25 | -28.3% | 15.5% | ||
| Q2 25 | -32.1% | -18.0% | ||
| Q1 25 | -24.7% | -69.6% | ||
| Q4 24 | -48.4% | 1.6% | ||
| Q3 24 | -5.8% | -18.6% | ||
| Q2 24 | 1.0% | -17.0% | ||
| Q1 24 | -58.4% | -63.3% |
| Q4 25 | 25.7% | 0.3% | ||
| Q3 25 | 51.6% | 1.6% | ||
| Q2 25 | 26.9% | 1.2% | ||
| Q1 25 | 65.7% | 0.7% | ||
| Q4 24 | 51.4% | 1.1% | ||
| Q3 24 | 12.6% | 1.2% | ||
| Q2 24 | 17.2% | 0.9% | ||
| Q1 24 | 22.7% | 0.6% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.36× | — | ||
| Q1 24 | -15.67× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AMS
| Direct Patient Services | $4.0M | 51% |
| Rental Income From Medical Services | $2.7M | 35% |
| Pbrt Services | $1.2M | 15% |
XGN
| Commercial | $9.3M | 56% |
| Government1 | $4.3M | 26% |
| Client Direct Bill | $2.9M | 18% |
