AMN HEALTHCARE SERVICES INC

Listed Company

AMNCIK 0001142750NYSELarge AcceleratedServices-Help Supply ServicesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$2.73B

Net Income

$-95.70M

Total Assets

$2.09B

Equity

$642.11M

Shares Out

38.64M

Op. Cash Flow

$269.46M

Business

AMN Healthcare Services Inc provides total talent solutions that connect healthcare organizations with a national network of qualified healthcare professionals. The company offers staffing and recruitment for nurses, physicians, allied health professionals, interim and executive leadership, locum tenens, language interpretation, revenue cycle services, and technology-enabled workforce optimization and scheduling solutions. Its operations are organized into nurse and allied solutions, physician and leadership solutions, and technology and workforce solutions reportable segments. AMN primarily serves healthcare clients across the United States through direct staffing, managed services, vendor management systems, and SaaS channels.

Summary from filing dated 2025-02-21

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	2,730	2,984	3,789	5,243	3,984
Cost of revenue	1,956	2,064	2,540	3,527	2,675
Gross profit	774	919	1,250	1,717	1,310
Selling, general and administrative	593	632	748	937	730
Depreciation and amortization (exclusive of depreciation included in cost of revenue)	148	167	155	133	101
Gain on sale of disposal group	−39	0	0	—	—
Goodwill impairment losses	110	222	0	0	—
Long-lived assets impairment losses	18	0	8	—	—
Total operating expenses	830	1,022	911	1,070	832
Income (loss) from operations	−55	−103	338	647	478
Interest expense, net, and other	46	70	54	40	—
Income (loss) before income taxes	−101	−173	284	607	444
Income tax expense (benefit)	−5	−26	74	163	117
Net income (loss)	−96	−147	211	444	327
Unrealized gains on available-for-sale securities, net, and other	309,000	412,000	516,000	−644,000	−335,000
Other comprehensive income	309,000	412,000	516,000	−644,000	−335,000
Comprehensive income (loss)	−95	−147	211	443	327
Basic (in dollars per share)	−2.48	−3.85	5.38	9.96	6.87
Diluted (in dollars per share)	−2.48	−3.85	5.36	9.9	6.81
Basic (in shares)	39	38	39	45	48
Diluted (in shares)	39	38	39	45	48

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	34	11	33	65	181
Accounts receivable, net of allowances of $16,580 and $32,421 at December 31, 2025 and 2024, respectively	383	438	623	676	789
Accounts receivable, subcontractor	48	70	118	269	—
Prepaid expenses	21	23	22	19	72
Other current assets	60	53	46	66	67
Total current assets	545	595	842	1,094	1,349
Restricted cash, cash equivalents and investments	46	72	69	61	64
Fixed assets, net of accumulated depreciation of $414,797 and $360,795 at December 31, 2025 and 2024, respectively	136	186	191	149	127
Other assets	283	258	237	172	157
Deferred income taxes, net	45	26	0	—	—
Goodwill	756	897	1,112	935	892
Intangible assets, net of accumulated amortization of $561,590 and $534,822 at December 31, 2025 and 2024, respectively	284	381	474	477	514
Total assets	2,094	2,416	2,924	2,888	3,132
Accounts payable and accrued expenses	162	184	344	476	425
Accrued compensation and benefits	299	288	279	333	354
Other current liabilities	117	74	34	48	162
Total current liabilities	578	546	656	858	969
Revolving credit facility	25	210	460	0	—
Notes payable, net of unamortized fees and premium	742	846	845	844	842
Other long-term liabilities	107	107	109	121	97
Total liabilities	1,452	1,709	2,093	1,845	1,970
Commitments and contingencies	—	—	—	—	—
Preferred stock, $0.01 par value; 10,000 shares authorized; none issued and outstanding at December 31, 2025 and 2024	0	0	0	0	0
Common stock, $0.01 par value; 200,000 shares authorized; 51,054 issued and 38,441 outstanding at December 31, 2025 and 50,692 issued and 38,079 outstanding at December 31, 2024	511,000	507,000	504,000	501,000	498,000
Additional paid-in capital	559	528	507	502	487
Treasury stock, at cost; 12,613 shares at December 31, 2025 and 2024	−1,127	−1,127	−1,127	−699	−122
Retained earnings	1,209	1,305	1,452	1,241	797
Accumulated other comprehensive income (loss)	298,000	−11,000	−423,000	−939,000	−295,000
Total stockholders equity	642	707	831	1,044	1,162
Total liabilities and stockholders equity	2,094	2,416	2,924	2,888	3,132

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization (inclusive of depreciation included in cost of revenue)	157	174	161	137	104
Non-cash interest expense and other	3	12	9	5	−4
Write-off of fees on credit facilities and senior notes	1	0	0	0	158,000
Change in fair value of contingent consideration liabilities	0	0	2	−3	0
Increase in allowance for credit losses and sales credits	2	3	24	58	6
Provision for deferred income taxes	−20	−51	−13	−25	−16
Share-based compensation	31	23	18	30	25
Net loss (gain) on deferred compensation balances	2	−1	465,000	−526,000	20,000
Loss on disposal or impairment of long-lived assets	18	65,000	8	2	3
Net loss (gain) on investments in available-for-sale securities	−106,000	200,000	302,000	749,000	−52,000
Non-cash lease expense	−708,000	−1	2	5	4
Accounts receivable	49	176	70	58	−420
Accounts receivable, subcontractor	22	47	151	—	—
Income taxes receivable	3	−4	4	−9	7
Prepaid expenses	2	−2	−2	54	−59
Other current assets	−3	−9	4	18	−22
Other assets	5	87,000	−3	210,000	3
Accounts payable and accrued expenses	−21	−155	−184	49	256
Accrued compensation and benefits	−12	−11	−80	−11	129
Other liabilities	49	44	−10	−127	123
Deferred revenue	6	−1	−558,000	−4	4
Net cash provided by operating activities	269	320	372	654	305
Purchase and development of fixed assets	−36	−81	−104	−76	−54
Purchase of investments	−36	−1	0	−13	−61
Proceeds from sale and maturity of investments	11	9	10	14	58
Proceeds from sale of disposal group	65	0	0	—	—
Proceeds from sale of equity investment	0	0	77,000	68,000	78,000
Payments to fund deferred compensation plan	−6	−8	−25	−22	−8
Proceeds from settlements of company-owned life insurance policies	6	0	0	—	—
Cash paid for acquisitions, net of cash and restricted cash received	0	0	−292	−70	−41
Cash paid for other intangibles	0	0	−2	−5	−90,000
Cash received for working capital settlement of prior year acquisition	0	2	0	0	—
Net cash provided by (used in) investing activities	4	−80	−412	−171	−107
Payments on revolving credit facility	−315	−375	−355	0	−70
Proceeds from revolving credit facility	130	125	815	0	70
Proceeds from senior notes	400	0	0	0	0
Redemption of senior notes	−500	0	0	0	0
Payments on loans payable	0	0	−300,000	0	0
Repurchase of common stock	0	0	−425	−577	−3
Payment of excise tax on share repurchases	0	−4	0	0	—
Payment of financing costs	−9	−973,000	−4	0	0
Earn-out payments to settle contingent consideration liabilities for prior acquisitions	0	0	−8	0	−3
Cash paid for shares withheld for taxes	−2	−5	−13	−15	−7
Net cash provided by (used in) financing activities	−296	−259	11	−592	−35
Net decrease in cash, cash equivalents and restricted cash	−22	−19	−30	−109	163
Cash paid for amounts included in the measurement of operating lease liabilities	9	10	9	13	40
Cash paid for interest (net of $229, $606 and $1,229 capitalized in 2025, 2024 and 2023, respectively)	45	61	48	38	38
Cash paid for income taxes	8	28	78	214	106
Fair value of tangible assets acquired in acquisitions, net of cash and restricted cash received	0	0	49	3	2
Goodwill	0	0	176	43	27
Intangible assets	0	0	92	40	12
Liabilities assumed	0	0	−25	−8	−275,000
Purchase of fixed assets recorded in accounts payable and accrued expenses	2	3	8	6	4
Excise tax payable on share repurchases	0	0	4	0	0
Right-of-use assets obtained in exchange for operating lease liabilities	1	5	37	6	3

Filings

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