Core Insights - AMN Healthcare Services, Inc. reported adjusted earnings per share (EPS) of 30 cents for Q2 2025, a decline of 69.4% year over year, but exceeded the Zacks Consensus Estimate by 76.5% [1] - The company’s revenues for Q2 2025 were $658.2 million, down 11.1% year over year, yet also surpassed the Zacks Consensus Estimate by 0.9% [2] - AMN Healthcare's gross profit fell 14.5% year over year to $196.4 million, with a gross margin of 29.8% [7] Revenue Breakdown - The Nurse and Allied Solutions segment generated revenues of $381.9 million, down 13.7% year over year, with travel nurse staffing revenues declining by 25% [4] - The Physician and Leadership Solutions segment reported revenues of $174.5 million, a decrease of 6.2% year over year, with interim leadership revenues down 25% [5] - The Technology and Workforce Solutions segment's revenues totaled $101.8 million, down 9.3% year over year, with vendor management systems revenue declining by 31% [6] Margin and Financial Position - Selling, general & administrative expenses increased by 3.7% year over year to $154.6 million, while adjusted operating profit fell by 48.2% to $41.8 million [7] - AMN Healthcare ended Q2 2025 with cash and cash equivalents of $41.5 million, down from $55.8 million at the end of Q1 2025, and total debt decreased to $920 million from $1 billion [8] Future Guidance - For Q3 2025, AMN Healthcare expects revenues in the range of $610 million to $625 million, reflecting a decline of 9-11% compared to the prior year [11] - The company anticipates a decline of 11-14% in revenues for the Nurse and Allied Solutions segment and 12-14% for the Technology and Workforce Solutions segment in Q3 [12] Overall Assessment - The overall performance of AMN Healthcare in Q2 2025 was disappointing, with declines across all segments and contracting margins [13] - Despite the challenges, there was an encouraging uptick in Language interpretation services revenues and positive customer adoption of AMN Passport [14] - The recent sale of the Smart Square nurse scheduling software and the partnership with symplr is seen as a promising development for the company [15]