CCRN
Cross Country Healthcare, Inc.8.17
-0.08-0.97%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A reinforces growth outlook, adds M&A color
Q&A largely reaffirms prepared remarks' optimism for 2026 growth, with executives voicing high confidence in exiting at $250M+ quarterly revenue and 4-5% EBITDA margins via operating leverage from India offshoring, AI automation, and revenue producer investments already yielding quick ROI. Post-merger termination, M&A inquiries have flooded in, targeting tuck-ins in home care and locums to widen client reach while competitors falter. Phones rang off the hook. Sequential momentum shows in weekly production and rising orders, though physician staffing Q4 dip stemmed from client pullbacks now reversing. Management dodged quantifying labor disruption upside. Investors will track execution on tech expansions like Intellify licensing and organic ramp.
Key Stats
Market Cap
267.65MP/E (TTM)
-Basic EPS (TTM)
-0.49Dividend Yield
0%Recent Filings
8-K
CIO Noe exits, consults
Cross Country Healthcare's CIO Phil Noe exited March 10, 2026, securing $205,975 severance over six months via separation agreement signed March 16. He transitions to consulting on tech infrastructure at $198.04/hour through May 31. Smooth handover secured. Noe retains confidentiality and non-compete duties.
8-K
CAO and CIO departures announced
Cross Country Healthcare announced on March 9, 2026, that James V. Redd III will step down as SVP and Chief Accounting Officer effective March 10, with no disputes over accounting or reporting. Phil Noe exits as CIO on the same date. Internal veteran Marvin Veizaga, 45, steps up to the CAO role, with base salary rising to $340,000, STI target at 50%, and new LTI at 50%. Smooth transition from within.
10-K
FY2025 results
Cross Country Healthcare's FY2025 revenue plunged 21.6% y/y to $1.1B, driven by Nurse and Allied FTEs down 17.3% and Physician days filled off 14.0%, yet home-based staffing surged 28%. Q4 saw a $77.9M goodwill impairment from market cap drop, $6.0M CEO transition costs, and $94.9M net loss—far worse than 2024's $14.6M. Physician margins expanded to 8.5% on 12.1% higher revenue per day filled. Cash hit $108.7M with $48.3M operating flow; repurchased 803k shares at $8.10 in Q4, $34M remains. No debt drawn, $96.3M ABL availability. Q4 leadership shakeup risks execution. Pandemics could spike demand volatility.
8-K
Q4 revenue down 24%, impairment hits
Cross Country Healthcare reported Q4 revenue of $236.8M, down 24% year-over-year amid travel staffing weakness, with full-year revenue at $1.1B, off 22%. A $77.9M goodwill impairment—triggered by Aya merger termination and stock drop—drove $82.9M net loss. Yet cash hit $109M debt-free; Q1 guides $235-240M revenue. Strong balance sheet fuels buybacks.
8-K
Conference participation announced
Cross Country Healthcare announced participation in two investor conferences: Truist Securities Virtual Human Capital on March 12-13, 2026, and Oppenheimer Healthcare MedTech & Services on March 16-19, 2026. CFO William J. Burns and VP Josh Vogel will hold one-on-one meetings. No formal presentations planned. Information furnished under Regulation FD, not filed.
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