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Mar 31
AMN Healthcare Q1 2025 Earnings Report
AMN Healthcare reported its first quarter 2025 financial results.
Key Takeaways
AMN Healthcare reported first quarter 2025 revenue of $690 million, a 16% decrease year-over-year. The company posted a GAAP net loss of $1.1 million and adjusted diluted EPS of $0.45. Results were above the high end of guidance, benefiting from growth in client patient volumes and market adoption of tech-enabled solutions.
First quarter revenue and earnings exceeded guidance expectations.
Consolidated gross margin was better than guidance, and SG&A management improved operating leverage.
Improved bookings, driven by technology and process enhancements, led to sequential growth in locum tenens revenue, with the business expected to return to year-over-year growth.
Strong cash flow from operations of $93 million in Q1 allowed for a $60 million reduction in debt.
AMN Healthcare
AMN Healthcare
AMN Healthcare Revenue by Segment
Revenue by Segment
Nurse and Allied Solutions Revenue
CapyFin.comPhysician and Leadership Solutions Revenue
CapyFin.comTechnology and Workforce Solutions Revenue
CapyFin.com Forward Guidance
For the second quarter of 2025, AMN Healthcare expects consolidated revenue between $645 million and $660 million.
Positive Outlook
- Guidance includes $16 million in labor disruption revenue.
- Gross margin is expected to be between 28.5% and 29.0%.
- Adjusted EBITDA margin is projected to be between 7.8% and 8.3%.
- Depreciation is estimated at $19 million.
- Amortization expense is estimated at $20 million.
Challenges Ahead
- Consolidated revenue is expected to be 11-13% lower than the prior year.
- Consolidated revenue is expected to be down 4-7% sequentially.
- Nurse and Allied Solutions segment revenue is expected to be down 14-17% year over year.
- Physician and Leadership Solutions segment revenue is expected to be 5-7% lower year over year.
- Technology and Workforce Solutions segment revenue is projected to be lower by 8-10% year over year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income