AMN Healthcare Services Inc · NYSE:AMN
AMN Healthcare Services — Q3 2026 Earnings Presentation
15 slides from AMN Healthcare Services's earnings presentation, Nov 5, 2026
Slide 1: Q3 2026 Financial Report Supplement Slides
Q3 2026 Financial Report Supplement Slides November 5, 2026 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 “Q3 2026 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: Q3 2026 Summary Financial Results
Q3 2026 Summary Financial Results Consolidated Q3 2026 Income Statement Summary Nurse & Allied Solutions Revenue vs. Guidance Guidance Range Guidance Range Q3 2026 Low High $ Millions Q3 2026 Low High Q3 2025 Labor Disruption Revenue 59 7 7 Revenue $ 717.3 $ 640 $ 655 $ 634.5 Other Nurse & Allied Re
Slide 5: Nurse & Allied Solutions Trends
Nurse & Allied Solutions Trends $s Millions Revenue Trend Segment Operating Margin Trend $1,127 $153 $722 $80 $491 $460 $361 $422 $58 $13 $25 17.5% $124 $59 $151 $157 $157 $36 13.6% 13.8% $142 $147 $29 $207 $220 $254 $239 $244 8.0% 7.4% Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Nur
Slide 6: Physician & Leadership Solutions Trends
Physician & Leadership Solutions Trends $s Millions Revenue Trend Segment Operating Margin Trend $178 $16 $170 $164 $165 $171 $9 $9 $11 $23 $10 $12 $13 $13 $24 $23 $22 $22 $11 $11 8.8% 7.6% 7.3% $146 $138 6.6% 6.7% $136 $131 $131 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Locum Tene
Slide 7: Technology & Workforce Solutions Trends
Technology & Workforce Solutions Trends $s Millions Revenue Trend Segment Operating Margin Trend $95 $3 $88 $87 $87 $86 $31 $2 $2 $2 $2 $17 $25 $25 $25 $16 $16 $15 $15 $24 32.6% $75 $70 $69 $70 $69 28.3% 29.0% 28.4% 27.7% Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Language Services
Slide 8: Balance Sheet and Cash Flow
Balance Sheet and Cash Flow Balance Sheet Highlights Cash Flow Summary $s Millions 9/30/2026 6/30/2026 $s Millions Q3 2026 Q3 2025 Cash & Cash Equivalents $256 $362 Gross Cash Flow $59 $52 Accounts Receivable, net $418 $383 Working Capital Changes ($147) ($29) Total Current Assets $804 $869 Net Cash
Slide 9: Q4 2026 Financial Guidance
Income Statement Assumptions $s Millions Low High Consolidated Revenue $655 $670 Segment Revenue Year-over-year Rates of Change Nurse & Allied Solutions (15%) (13%) Physician & Leadership Solutions (7%) (5%) Q4 2026 Technology & Workforce Solutions (10%) Margin Guidance (8%) Financial Gross Margin S
Slide 10: Reconciliation of Non-GAAP Items (Unaudited)
Reconciliation of Non-GAAP Items (Unaudited) Three Months Ended September 30, (Dollars in thousands) 2026 2025 Net Income $ 33,394 $ 29,288 Income tax expense 9,794 8,703 Income before income taxes 43,188 37,991 Interest expense, net, and other 7,329 9,627 Income from operations 50,517 47,618 Deprec
Slide 11: Reconciliation of Non-GAAP Items (Unaudited)
Reconciliation of Non-GAAP Items (Unaudited) Three Months Ended September 30, (Dollars in thousands) 2026 2025 Net income $ 33,394 $ 29,288 Adjustments: Amortization of intangible assets 16,285 20,441 Acquisition, integration, and other costs (2) 2,707 2,727 Gain on sale of disposal group — (39,180)
Slide 12: Reconciliation of Non-GAAP Items (Unaudited)
Reconciliation of Non-GAAP Items (Unaudited) Third Quarter Fourth First Quarter Second Third Quarter (Dollars in thousands) 2025 Quarter 2025 2026 Quarter 2026 2026 Revenue Nurse and allied solutions $ 361,476 $ 490,710 $1,127,342 $ 421,968 $ 460,005 Physician and leadership solutions 178,214 169,55
Slide 13: Reconciliation of Non-GAAP Items (Unaudited)
Reconciliation of Non-GAAP Items (Unaudited) Three Months Ended September 30, (Dollars in thousands) 2026 2025 Net cash provided by (used in) operating activities $ (87,528) 22,666 Purchase and development of fixed assets (9,807) (7,908) Free cash flow (12) $ (97,335) $ 14,758 As of September 30, 20
Slide 14: Reconciliation of Non-GAAP Items (Unaudited)
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 15: Reconciliation of Non-GAAP Items (Unaudited)
Reconciliation of Non-GAAP Items (Unaudited) (6) Adjusted net income represents GAAP net income excluding the impact of the (A) amortization of intangible assets, (B) acquisition, integration, and other costs, (C) gain on sale of disposal group, (D) tax effect, if any, of the foregoing adjustments,
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