Loading...
•
Jun 30, 2025
AMN Healthcare Q2 2025 Earnings Report
AMN Healthcare reported a decrease in revenue and a GAAP loss for the second quarter of 2025, primarily due to non-cash impairment charges, while adjusted EBITDA and adjusted EPS also declined.
Key Takeaways
AMN Healthcare experienced a challenging second quarter in 2025, with consolidated revenue decreasing by 11% year-over-year to $658 million and a GAAP net loss of $116.2 million, largely driven by $128 million in non-cash goodwill and intangible asset impairment charges. Despite the GAAP loss, adjusted diluted EPS was $0.30, and adjusted EBITDA was $58.3 million, both showing significant year-over-year declines. The company noted that allied staffing performed well, exceeding projections, and strong cash flow from operations allowed for debt reduction.
Consolidated revenue for Q2 2025 was $658 million, an 11% decrease from the prior year.
The company reported a GAAP net loss of $116.2 million, or ($3.02) per diluted share, primarily due to $128 million in non-cash impairment charges.
Adjusted diluted EPS was $0.30, a 69% decrease from the prior year, and Adjusted EBITDA was $58.3 million, down 38% year-over-year.
Cash flow from operations was strong at $79 million, enabling a $80 million reduction in debt, bringing the net leverage ratio to 3.3:1.
Revenue by Segment
Forward Guidance
For the third quarter of 2025, AMN Healthcare expects consolidated revenue to be between $610 million and $625 million, representing a 9-11% year-over-year decrease. Gross margin is projected to be between 28.7% and 29.2%, and adjusted EBITDA margin is expected to be between 7.7% and 8.2%.
Positive Outlook
- Anticipated gain on sale of Smart Square of approximately $40 million.
- Continued focus on strategic partnerships, as evidenced by the Smart Square sale.
- Signs of improvement in July with stabilized orders and rebounded extension rates.
- Enhanced AI and technology-enabled services are expected to position the company to gain market share.
- Strong cash flow from operations in Q2 2025 provides financial flexibility.
Challenges Ahead
- Consolidated revenue expected to decrease by 9-11% year-over-year in Q3 2025.
- Nurse and Allied Solutions segment revenue projected to be down 11-14% year-over-year.
- Physician and Leadership Solutions segment revenue expected to be down 2-4% year-over-year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...