Cross Country Healthcare Earnings Call Transcripts
Fiscal Year 2026
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Stockholders approved the merger agreement and related executive compensation proposals, with a strong quorum and unanimous board support. The company will become a wholly owned subsidiary of KL Kris Cross Intermediate LLC. Final voting results will be filed with the SEC.
Fiscal Year 2025
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Revenue and profitability declined in 2025 due to merger-related disruptions, but momentum has improved with a strong balance sheet, technology investments, and cost reductions. Sequential growth is expected throughout 2026, with a return to year-over-year growth by Q3 or Q4.
Fiscal Year 2024
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Q3 revenue and adjusted EBITDA met guidance, with diversification into home care, physician staffing, and education driving 30% of total revenue. Gross margin pressure persists in travel nurse and allied, but strong demand and technology investments support a positive 2025 outlook.
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Revenue and adjusted EBITDA for Q2 2024 were near the high end of guidance, with travel demand rebounding and strong performance in locums, home care, and education. Margin pressures persist from lodging and insurance costs, but technology investments and new client wins position the company for sequential growth in Q4.
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Temp staffing demand has stabilized but remains below pre-pandemic levels, with hospitals reducing contingent labor and exploring new staffing models. Growth is driven by technology adoption, robust pipelines in vendor-neutral agreements, and expansion in locums and education, while financial discipline and margin improvement remain key priorities.
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The conference highlighted persistent nurse shortages, ongoing demand stabilization, and the company's tech-driven approach to workforce management. Investments in AI-powered platforms like Xperience and Intellify are expanding market reach and driving high-margin growth opportunities.