Amn Healthcare Services Inc · NYSE:AMN
Amn Healthcare Services — Q2 2025 Earnings Presentation
16 slides from Amn Healthcare Services's earnings presentation, Aug 7, 2025
Slide 1: Q2 2025 Financial Report Supplement Slides
Q2 2025 Financial Report Supplement Slides August 7, 2025 THE LEADER AND INNOVATOR IN TOTAL TALENT SOLUTIONS
Slide 2: Non-GAAP Measures
Non-GAAP Measures This presentation contains certain financial measures that are not in accordance with generally accepted accounting principles in the United States (“GAAP”) or with rules adopted by the SEC that apply to registration statements under the Securities Act of 1933, as amended, and peri
Slide 3: Forward-Looking Statements
Forward-Looking Statements Statements in this “Q2 2025 Financial Report Supplement Slides” contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forwar
Slide 4: Q2 2025 Summary Financial Results
Q2 2025 Summary Financial Results Consolidated Q2 2025 Income Statement Summary Nurse & Allied Solutions Revenue vs. Guidance Guidance Range Guidance Range Q2 2025 Q2 2025 Actuals Low High $ Millions Actuals Low High Q2 2024 Labor Disruption Revenue 16 16 16 Revenue $ 658.2 $ 645 $ 660 $ 740.7 Other
Slide 5: Nurse & Allied Solutions Trends
Nurse & Allied Solutions Trends $s Millions Revenue Trend Segment Operating Margin Trend $442 $455 $46 $399 $413 $382 $62 $16 $39 $39 $35 $151 10.4% $32 $141 $149 $28 $147 $146 8.8% 8.6% 7.8% 7.5% $291 $258 $244 $227 $220 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Nurse Allied Labor
Slide 6: Physician & Leadership Solutions Trends
Physician & Leadership Solutions Trends $s Millions Revenue Trend Segment Operating Margin Trend $186 $181 $22 $173 $174 $175 $13 $10 $10 $9 $9 $18 $30 $29 $24 $23 $17 $26 11.6% $14 $13 10.0% 9.8% $143 $142 $137 $141 $143 8.3% 7.7% Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Locum Te
Slide 7: Technology & Workforce Solutions Trends
Technology & Workforce Solutions Trends $s Millions Revenue Trend Segment Operating Margin Trend $112 $108 $107 $102 $102 $47 $9 $8 $8 $42 $8 $7 $40 $28 $25 $23 $19 $19 42.1% $35 $35 39.0% 37.7% $75 $75 $76 $75 $76 34.5% 34.6% Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Language Serv
Slide 8: Balance Sheet and Cash Flow
Balance Sheet and Cash Flow Balance Sheet Highlights Cash Flow Summary $s Millions 6/30/2025 3/31/2025 $s Millions Q2 2025 Q2 2024 Cash & Cash Equivalents $42 $56 Gross Cash Flow $37 $80 Accounts Receivable, net $388 $422 Working Capital Changes $41 $20 Total Current Assets $571 $627 Net Cash Provid
Slide 9: Q3 2025 Financial Guidance
Income Statement Assumptions $s Millions Low High Consolidated Revenue $610 $625 Segment Revenue Year-over-year Rates of Change Nurse & Allied Solutions (14%) (11%) Physician & Leadership Solutions (4%) (2%) Technology & Workforce Solutions (14%) (12%) Q3 2025 Gross Margin Margin Guidance 28.7% 29.2
Slide 10: Reconciliation of Non-GAAP Items
Reconciliation of Non-GAAP Items (Unaudited) Three Months Ended June 30, (Dollars in thousands) 2025 2024 Net Income (loss) $ (116,202) $ 16,237 Income tax expense (benefit) (18,873) 5,730 Income (loss) before income taxes (135,075) 21,967 Interest expense, net, and other 11,360 15,715 Income (loss)
Slide 11: Reconciliation of Non-GAAP Items
Reconciliation of Non-GAAP Items (Unaudited) Three Months Ended June 30, (Dollars in thousands) 2025 2024 Net income (loss) $ (116,202) $ 16,237 Adjustments: Amortization of intangible assets 19,608 24,744 Acquisition, integration, and other costs (2) 5,515 5,310 Goodwill impairment loss 109,515 — L
Slide 12: Reconciliation of Non-GAAP Items
Reconciliation of Non-GAAP Items (Unaudited) Second Quarter Third Quarter Fourth Quarter First Quarter Second Quarter (Dollars in thousands) 2024 2024 2024 2025 2025 Revenue Nurse and allied solutions $ 442,399 $ 399,368 $ 454,654 $ 413,261 $ 381,871 Physician and leadership solutions 186,065 180,60
Slide 13: Reconciliation of Non-GAAP Items
Reconciliation of Non-GAAP Items (Unaudited) Three Months Ended June 30, (Dollars in thousands) 2025 2024 Net cash provided by operating activities $ 78,548 99,515 Purchase and development of fixed assets (9,800) (27,266) Free cash flow (14) $ 68,748 $ 72,249 As of June 30, 2025 2024 Leverage ratio
Slide 14: Reconciliation of Non-GAAP Items
Reconciliation of Non-GAAP Items (Unaudited) Three Months Ended September 30, 2025 Low(16) High(16) Operating margin 6.0% 6.5% Depreciation and amortization (total) 6.6% 6.5% EBITDA margin 12.6% 13.0% Gain on sale of Smart Square (17) (6.5%) (6.4%) Share-based compensation 1.2% 1.2% Integration and
Slide 15: Reconciliation of Non-GAAP Items
Reconciliation of Non-GAAP Items (Unaudited) (1) A portion of depreciation expense for AMN Language Services is included in cost of revenue. We exclude the impact of depreciation included in cost of revenue from the calculation of adjusted EBITDA. (2) Acquisition, integration, and other costs includ
Slide 16: Reconciliation of Non-GAAP Items
Reconciliation of Non-GAAP Items (Unaudited) (7) Adjusted net income represents GAAP net income (loss) excluding the impact of the (A) amortization of intangible assets, (B) acquisition, integration, and other costs, (C) goodwill impairment loss, (D) long-lived assets impairment loss (E) certain leg
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