Amn Healthcare Services Inc · NYSE:AMN
Amn Healthcare Services — Q1 2025 Earnings Presentation
33 slides from Amn Healthcare Services's earnings presentation, May 8, 2025
Slide 1: Investor Presentation
Investor Presentation May 2025 Confidential. Property of AMN Healthcare. 1 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 This investor presentation contains “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”). Forward-looking statements include, among
Slide 4: Investment Highlights
Investment Highlights We Innovate to Sustainable Long- Purpose-Driven, Well-Positioned to Continued Solve Problems in term Macro Value-Based Generate Long- Opportunity for the Healthcare Growth Drivers Organization Term Profitable Strategic M&A to Labor Force Aging U.S. and Celebrating 40 Growth wit
Slide 5: AMN Overview
AMN Overview Physician & Technology & Nurse & Allied #1 Solutions Leadership Solutions Workforce Solutions Leader in Healthcare Total Talent Solutions WORKFORCE WORKFORCE TALENT MANAGEMENT STAFFING STAFFING Vendor Management System Travel Nursing Locum Tenens Recruitment Solutions Local Staffing Int
Slide 6: Diversified Solutions Mix Enables Superior Operating Leverage
Diversified Solutions Mix Enables Superior Operating Leverage Segment Revenue Mix Segment Operating Income Mix 5% 13% 15% 25% 21% 43% 25% 18% 70% 66% 60% 39% 2019 LTM 2019 LTM Nurse & Allied Solutions Physician & Leadership Solutions Technology & Workforce Solutions Confidential. Property of AMN Hea
Slide 7: Diversity of Revenue Mix Improves Gross Margin Profile
Diversity of Revenue Mix Improves Gross Margin Profile Gross Margin by Business Segment AMN business segments have a blend of high- and lower-margin Domestic Nurse & Allied Staffing 19% business lines International & Other • The blend between specialty staffing Labor Disruption and fee-based technol
Slide 8: Well-Positioned Amid Long-Term U.S. Secular Trends
Well-Positioned Amid Long-Term U.S. Secular Trends Aging Population Labor Demand and Supply Healthcare Spend ~4.5 Million Global Shortage Annual Growth in U.S. Population Aged 65+ of nurses is expected by 2030 Healthcare Spend 76M Is projected to average 5.6% ~86,000 Shortage More Days Spent +5.6% p
Slide 9: Significant Opportunity with a Large, Fragmented Market
Significant Opportunity with a Large, Fragmented Market Reaching Our Market Potential Total Addressable Market: ~$41B • Ready to serve more diverse needs driven by increasing complexity of large health systems across all care settings • Meeting needs driven by dramatic changes in ~$34B care delivery
Slide 10: AMN Competitive Advantage: Solving Healthcare Workforce Problems
AMN Competitive Advantage: Solving Healthcare Workforce Problems SEAMLESS INTEGRATIONS to make ADVANCED COMPLIANCE MANAGEMENT it easier to manage your workforce to ensure a high-quality workforce with your existing systems PREDICTIVE ANALYTICS to forecast needs and fill orders in advance ENGAGED TAL
Slide 11: MSP and VMS Lead Our Value Proposition
MSP and VMS Lead Our Value Proposition $3.6 Billion of Spend Under Management MSP and VMS Gross Spend Under Management $12.1 brings together people, processes $7.7 $6.7 $7.6 and technology to deliver better care. $4.1 $4.2 We offer a complete $3.9 $4.0 $2.1 $3.6 range of managed $2.6 $1.9 $2.0 servi
Slide 12: Diverse, Industry-Leading Talent
Diverse, Industry-Leading Talent Cary Grace Brian Scott Meredith Lapointe Patrick McCall Robin Johnson President & Chief Financial Officer & Chief Business Officer Chief Growth Officer Group President, Chief Executive Officer Chief Operating Officer Joined: 2023 Joined: 2023 Nursing & Allied Solutio
Slide 13: Key Pillars To Our Long-Term Growth
Key Pillars To Our Long-Term Growth INVEST LEVERAGE SUSTAIN in Total Talent Financial Innovation Solutions Discipline Confidential. Property of AMN Healthcare. BE A HOLISTIC PARTNER FOR OUR CLIENTS AND CLINICIANS 13
Slide 14: Investing in Innovation & Infrastructure
Investing in Innovation & Infrastructure How We Are Investing in integrated and intuitive systems to make it easier for Addressing Current clients to work with AMN’s broad set of solutions, from advisory Challenges services to workforce management and optimization Where We Are Making Investments Int
Slide 15: Our Industry Leading VMS Solution ShiftWise Flex
Our Industry Leading VMS Solution ShiftWise Flex Instant Strong App Order Management Access to Based Talent Clinician Network Engagement Submission Workflow Auto Sourcing Self Order Excellence Service Distribution with AI Booking Compliance Automation Enhance Bill Rate Supplier Transparency Experien
Slide 16: Innovation in Action: AMN Passport
Innovation in Action: AMN Passport Personalized Top Jobs Timely Notifications Self-Service Capabilities AMN Contact List Time & Pay Details Profile Management Our Technology Roadmap Confidential. Property of AMN Healthcare. Candidate Engagement Client Experience Total Talent Solutions AMN Operations
Slide 17: Tech-Enabled Total Talent Solutions - OneAMN
Tech-Enabled Total Talent Solutions - OneAMN Our tech enabled total talent solutions enable high quality, flexible workforce and care delivery for clients Solutions range from traditional staffing to Easy to use platform for talent: reliable, holistic workforce management platform fast, and transpar
Slide 18: Strong Acquisition History
Strong Acquisition History Long successful history of integrating acquisitions to enhance and grow our Strategic Acquisitions total talent solutions Physician Solutions Nurse & Allied Staffing Language Interpretation 2023: MSDR 2022: Connetics 2020: Stratus Video 2015: Locum Leaders 2019: Advanced M
Slide 19: Sustainable Financial Discipline
Sustainable Financial Discipline Balanced Strong FCF Capital Allocation Generation Strategy Solid Track Record of Disciplined Financial Financial Confidential. Property of AMN Healthcare. Performance Management 19
Slide 20: AMN Historical Financial Summary
AMN Historical Financial Summary Total Revenue ($M) $2,000 Gross Profit ($M) and Margin (%) $5,243 $1,800 $1,717 43.0% $1,600 41.0% $3,984 $3,789 $1,310 $1,400 $1,250 39.0% $1,200 $2,984 $2,852 $1,000 $919 $860 37.0% $2,394 $792 $800 35.0% 33.1% 32.9% 32.7% 33.0% $600 33.0% $400 30.8% 30.1% 31.0% $2
Slide 21: Balance Sheet Highlights
Balance Sheet Highlights Net Leverage Ratio1 3.0x 3.1x Summary Balance Sheet ($M, 3/31/25) 2.7x Cash and Cash Equivalents $ 56 2.2x 2.0x Total Current Assets $ 627 Total Assets $ 2,395 1.1x 1.0x Total Current Liabilities $ 582 Total Debt $ 1,000 2019 2020 2021 2022 2023 2024 LTM Total Equity $ 715 D
Slide 22: Capital Expenditure Breakdown
Capital Expenditure Breakdown Capital Expenditure Spend ($M) $104 $81 $76 $54 2025 Capex Plan $38 $40-50 Million FY20 FY21 FY22 FY23 FY24 Cap Ex as a % of Revenue 1.6% 1.6% 1.3% 1.4% 2.7% 2.7% Wide Range of 2024 Capex Investments • • Confidential. Property of AMN Healthcare. Nurse & Allied Technolog
Slide 23: Investment Highlights
Investment Highlights We Innovate to Sustainable Long- Purpose-Driven, Well-Positioned to Continued Solve Problems in term Macro Value-Based Generate Long- Opportunity for the Healthcare Growth Drivers Organization Term Profitable Strategic M&A to Labor Force Aging U.S. and Celebrating 40 Growth wit
Slide 24: Appendix
Confidential. Property of AMN Healthcare. 24 Appendix
Slide 25: Reconciliation of Non-GAAP Items (Unaudited)
Reconciliation of Non-GAAP Items (Unaudited) For the Twelve Months Ended March 31, 2025 Second Third Quarter Fourth First Quarter Twelve (Dollars in thousands) Quarter 2024 2024 Quarter 2024 2025 Months Ended Net income (loss) $ 16,237 $ 6,989 $ (187,533) $ (1,092) $ (165,399) Income tax expense (be
Slide 26: Reconciliation of Non-GAAP Items (Unaudited)
Reconciliation of Non-GAAP Items (Unaudited) For the Years Ended December 31, (Dollars in thousands) 2020 2021 2022 2023 2024 Net income (loss) $ 70,665 $ 327,388 $ 444,050 $ 210,679 $ (146,979) Income tax expense (benefit) 20,858 116,533 162,653 73,610 (25,595) Income (loss) before income taxes 91,
Slide 27: Reconciliation of Non-GAAP Items (Unaudited)
Reconciliation of Non-GAAP Items (Unaudited) For the Twelve Months Ended March 31, 2025 Second Third Quarter Fourth First Quarter Twelve (Dollars in thousands) Quarter 2024 2024 Quarter 2024 2025 Months Ended Revenue Nurse and allied solutions $ 442,399 $ 399,368 $ 454,654 $ 413,261 $ 1,709,682 Phys
Slide 28: Reconciliation of Non-GAAP Items (Unaudited)
Reconciliation of Non-GAAP Items (Unaudited) For the Year Ended For the Twelve Months Ended (Dollars in thousands) December 31, 2019 March 31, 2025 Revenue Nurse and allied solutions $ 1,562,588 $ 1,709,682 Physician and leadership solutions 562,762 713,876 Technology and workforce solutions 96,757
Slide 29: Reconciliation of Non-GAAP Items (Unaudited)
Reconciliation of Non-GAAP Items (Unaudited) For the Twelve Months Ended March 31, 2025 Second Third Fourth First Quarter Twelve (Dollars in thousands) Quarter 2024 Quarter 2024 Quarter 2024 2025 Months Ended Net income (loss) $ 16,237 $ 6,989 $ (187,533) $ (1,092) $ (165,399) Adjustments: Amortizat
Slide 30: Reconciliation of Non-GAAP Items (Unaudited)
Reconciliation of Non-GAAP Items (Unaudited) For the Years Ended December 31, (Dollars in thousands) 2020 2021 2022 2023 2024 Net income (loss) $ 70,665 $ 327,388 $ 444,050 $ 210,679 $ (146,979) Adjustments: Amortization of intangible assets 63,817 63,015 83,078 89,756 92,770 Acquisition, integratio
Slide 31: Reconciliation of Non-GAAP Items (Unaudited)
Reconciliation of Non-GAAP Items (Unaudited) For the Twelve Months Ended March 31, 2025 Second Third Fourth First Quarter Twelve (Dollars in thousands) Quarter 2024 Quarter 2024 Quarter 2024 2025 Months Ended Net cash provided by operating activities $ 99,515 $ 66,703 $ 72,814 $ 92,671 $ 331,703 Pur
Slide 32: Reconciliation of Non-GAAP Items (Unaudited)
Reconciliation of Non-GAAP Items (Unaudited) (1) Changes in the fair value of equity investments and instruments are recognized in interest expense, net, and other. Since the changes in fair value are unrelated to the Company’s operating performance, we exclude the impact from the calculation of adj
Slide 33: Reconciliation of Non-GAAP Items (Unaudited)
Reconciliation of Non-GAAP Items (Unaudited) (6) During the year ended December 31, 2023, the Company recorded an increase to its legal accrual for a wage and hour claim in connection with reaching an agreement to settle the matter in its entirety. Since the settlement is largely unrelated to the Co
AMN Healthcare Services — Q1 2025 Earnings Presentation on 6ix