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Dec 31, 2025
Cross Country Healthcare Q4 2025 Earnings Report
Cross Country Healthcare Q4 2025 Earnings Report
Key Takeaways
Cross Country Healthcare reported a significant net loss in Q4 2025, primarily driven by non-cash impairment charges and tax valuation allowances following the termination of the Aya Merger Agreement. While revenue declined 24% year-over-year due to a challenging travel staffing market, the company maintained a strong debt-free balance sheet and positive operating cash flow.
Net loss of $82.9 million was largely due to a $77.9 million goodwill and trade name impairment charge and a $29.6 million tax valuation allowance.
The company received a $20.0 million termination fee following the cancellation of the Aya Merger Agreement.
Maintained a strong liquidity position with $108.7 million in cash and no outstanding debt as of year-end.
Implemented significant cost-saving measures, including a 21% reduction in US headcount during 2025.
Revenue by Segment
Forward Guidance
For Q1 2026, the company expects revenue between $235 million and $240 million, with a goal to reach a $1 billion revenue run-rate by the end of 2026.
Positive Outlook
- Expected sequential revenue growth of up to 1%
- Projected Adjusted EBITDA between $4.0 million and $5.0 million
- Targeting a profit margin between 4% and 5% by year-end 2026
- 95% of MSP and vendor neutral clients are now live on Intellify®
- Unencumbered focus following the merger termination
Challenges Ahead
- Year-over-year revenue expected to decline 18% to 20%
- Adjusted EPS projected to remain negative between $(0.06) and $(0.04)
- Adjusted EBITDA expected to decline 42% to 54% year-over-year
- Challenging market backdrop for travel staffing persists
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
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