Cross Country Healthcare Announces First Quarter 2026 Financial Results

About this update from Cross Country Healthcare, Inc.

BOCA RATON, Fla., May 07, 2026--(BUSINESS WIRE)--Cross Country Healthcare, Inc. (the Company) (Nasdaq: CCRN) today announced financial results for its first quarter ended March 31, 2026. First Quarter Business Highlights "We ended the first quarter with positive momentum, underscored by sequential revenue growth and several new MSP wins and expansions," said Kevin C. Clark, Co-Founder, Chairman and Chief Executive Officer. He continued, "As we await the closing of the pending transaction with Knox Lane in the third quarter, our focus remains on disciplined execution and advancing our technology initiatives to support our clients’ evolving workforce needs." First quarter consolidated revenue was $241.1 million, a decrease of 18% year-over-year and an increase 2% sequentially. Consolidated gross profit margin was 19.7%, a decrease of 30 basis points year-over-year and 60 basis points sequentially. Net loss attributable to common stockholders was $4.3 million, as compared to net loss of $0.5 million in the prior year and a net loss of $82.9 million in the prior quarter. Diluted earnings per share (EPS) was a net loss of $0.14, as compared to net loss of $0.02 in the prior year and a net loss of $2.56 in the prior quarter. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) was $3.9 million, or 1.6% of revenue, as compared with $8.6 million, or 2.9% of revenue, in the prior year, and $4.1 million, or 1.7% of revenue, in the prior quarter. Adjusted EPS was a net loss of $0.03, as compared to net income of $0.06 in the prior year and a net loss of $0.06 in the prior quarter. Quarterly Business Segment Highlights Nurse and Allied Staffing Revenue was $201.4 million, a decrease of 17% year-over-year and an increase of 4% sequentially. Contribution income was $12.7 million, as compared to $17.2 million in the prior year and $12.6 million in the prior quarter. Average field contract personnel on a full-time equivalent (FTE) basis was 6,363, as compared with 7,411 in the prior year and 6,318 in the prior quarter. Revenue per FTE per day was $351, as compared to $360 in the prior year and $333 in the prior quarter. Physician Staffing Revenue was $39.6 million, a decrease of 23% year-over-year and 7% sequentially. Contribution income was $2.8 million, as compared to $4.0 million in the prior year and $3.3 million in th...

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