Cross ntry Healthcare(US:CCRN)2025-11-12 22:03Financial Performance - Third quarter consolidated revenue was $250.1 million, a decrease of 21% year-over-year and 9% sequentially [3]. - Net loss attributable to common stockholders was $4.8 million, compared to net income of $2.6 million in the prior year, representing a 287% increase in loss [2]. - Adjusted EBITDA was $6.5 million, or 2.6% of revenue, down from $10.3 million, or 3.3% of revenue in the prior year [5]. - Revenue from services for Q3 2025 was $250,052, a decrease of 20.7% compared to $315,119 in Q3 2024 [22]. - Net loss attributable to common stockholders for Q3 2025 was $(4,774), compared to a net income of $2,555 in Q3 2024 [22]. - Adjusted EBITDA for Q3 2025 was $6,524, with an adjusted EBITDA margin of 2.6%, down from 3.3% in Q3 2024 [24]. - Contribution income for Q3 2025 was $18.550 million, down 22% from $23.880 million in Q3 2024 [28]. - The company reported a basic net loss per share of $(0.15) for Q3 2025, compared to earnings of $0.08 per share in Q3 2024 [22]. - Loss from operations for the nine months ended September 30, 2025 was $12.809 million, an improvement of 5% compared to a loss of $13.432 million in the same period of 2024 [28]. Cash Flow and Assets - Cash flows provided by operations were $20.1 million for the quarter, a 169% increase compared to the same quarter last year [9]. - The company had $99 million in cash and cash equivalents with no debt outstanding as of September 30, 2025 [11]. - Cash and cash equivalents increased to $99,132 as of September 30, 2025, compared to $81,633 at December 31, 2024 [26]. - Total current assets decreased to $295,113 as of September 30, 2025, from $335,000 at December 31, 2024 [26]. - Cash and cash equivalents at the end of Q3 2025 were $99.132 million, up from $64.021 million at the end of Q3 2024 [30]. - Net cash provided by operating activities for Q3 2025 was $20.114 million, significantly higher than $7.470 million in Q3 2024 [30]. Staffing and Operations - Homecare Staffing revenue grew more than 29% year-over-year, indicating strong performance in this segment [4]. - Average field contract personnel on a full-time equivalent (FTE) basis decreased to 6,371 from 7,660 in the prior year [7]. - Revenue per FTE per day was $343, down from $373 in the prior year [7]. - Nurse and Allied Staffing revenue per FTE per day decreased to $343 in Q3 2025 from $373 in Q3 2024 [32]. - Days filled for Physician Staffing decreased to 20,695 in Q3 2025 from 24,424 in Q3 2024 [32]. - Corporate overhead for Q3 2025 was $13.656 million, a decrease of 12% from $15.531 million in Q3 2024 [28]. Expenses and Liabilities - Total operating expenses for Q3 2025 were $256,025, down from $312,266 in Q3 2024, reflecting a reduction of 18% [22]. - Total liabilities decreased to $130,089 as of September 30, 2025, compared to $170,292 at December 31, 2024 [26]. - Retained earnings decreased to $206,136 as of September 30, 2025, from $218,059 at December 31, 2024 [26]. - Acquisition and integration-related costs for Q3 2025 were $4,147, compared to $0 in Q3 2024 [24]. - Acquisition and integration-related costs for the nine months ended September 30, 2025 were $12.183 million, compared to $3 million in the same period of 2024 [28]. Mergers and Acquisitions - The pending merger with Aya Healthcare is subject to regulatory approvals and has been extended to December 3, 2025 [12].