Cross Country Healthcare Inc. reported fourth‑quarter 2025 revenue of $236.8 million, a 24 % decline from the $309.9 million earned in Q4 2024. The full‑year revenue of $1.054 billion fell 22 % from $1.34 billion in 2024, reflecting a broad contraction across the company’s staffing segments.
The company posted a net loss attributable to common stockholders of $82.9 million for Q4 2025, compared with a $3.8 million loss in the same quarter a year earlier. Adjusted earnings per share were a loss of $0.06, missing the consensus estimate of $0.03. The GAAP diluted EPS was a loss of $2.56 per share, underscoring the impact of one‑time merger‑related costs and impairment charges following the termination of the Aya Healthcare deal.
Revenue decline was driven by a 24 % drop in Nurse and Allied Staffing revenue and a 20 % decline in Physician Staffing revenue, the two segments that account for 82 % and 18 % of total revenue, respectively. The company’s travel‑nursing volumes fell sharply, while bill‑pay spread compression added pressure to margins. Management highlighted that cost‑reduction initiatives, including a 40 % reduction in U.S. headcount and expansion of offshore operations, are expected to mitigate the loss over time.
For Q1 2026, Cross Country Healthcare guided revenue of $235 million to $240 million and an adjusted EPS loss of $0.04 to $0.06 per share. The guidance signals continued sequential revenue decline and ongoing losses, but management expressed confidence in achieving a revenue run‑rate above $1 billion by the end of 2026 and target profit margins of 4‑5 % through technology investments and operational efficiencies. Investors reacted negatively to the miss and weak guidance, reflecting concerns about the company’s near‑term profitability and the impact of the terminated merger.
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