AMN Healthcare Q4 Revenue Rises 2% to $748M, Cuts Debt by $75M
AMN Healthcare reported Q4 revenue of $748.2 million, up 2% year-over-year and 18% sequentially, with adjusted EPS of $0.22 and a GAAP loss of $0.20 per share. The company generated $76 million in cash flow and cut debt by $75 million in Q4, while travel nurse volume rose 5% sequentially.
1. Fourth Quarter Financial Performance
AMN Healthcare posted consolidated Q4 revenue of $748.2 million, up 2% year-over-year and 18% sequentially, delivering adjusted EPS of $0.22 alongside a GAAP loss of $0.20 per share. Gross profit declined 11% year-over-year to $195.1 million and gross margin decreased to 26.1%.
2. Segment Performance and Staffing Trends
Nurse and Allied Solutions revenue rose 8% year-over-year to $491 million driven by $124 million of labor disruption revenue and a 5% sequential increase in travel nurse volume. Physician and Leadership Solutions generated $170 million, down 2% year-over-year, while Technology and Workforce Solutions revenue fell 18% to $88 million.
3. Cash Flow Generation and Debt Reduction
Operating cash flow reached $76 million in the quarter and $269 million for the full year, enabling a $75 million debt reduction in Q4 and total debt paydown of $285 million in 2025. Investments in automation and technology boosted order fill rates during large labor disruption events.