MergerMay 7, 2026, 04:39 PM
Cross Country Healthcare Q1 Results; Merger Expected in Q3
AI Summary
Cross Country Healthcare announced its first quarter 2026 financial results, reporting a revenue of $241.1 million, an 18% decrease year-over-year, and a net loss of $4.3 million. The company also confirmed a pending merger with KL Criss Cross Intermediate, LLC, expected to close in the third quarter, leading to the cancellation of its earnings conference call. Despite the year-over-year declines, the company noted sequential revenue growth and positive cash flow from operations.
Key Highlights
- Cross Country Healthcare entered a merger agreement with KL Criss Cross Intermediate, LLC, expected to close in Q3.
- Q1 2026 Revenue was $241.1 million, down 18% year-over-year but up 2% sequentially.
- Net loss attributable to common stockholders was $4.3 million, a 771% increase in loss year-over-year.
- Diluted EPS was a net loss of $0.14, compared to a net loss of $0.02 in the prior year.
- Adjusted EBITDA was $3.9 million, representing a 55% decrease year-over-year.
- The company repurchased 0.7 million shares for $5.8 million, or 2.1% of shares outstanding.
- Cross Country Healthcare ended the quarter with $105.6 million in cash and no debt.
- Nurse and Allied Staffing revenue decreased 17% year-over-year to $201.4 million.
Price Impact
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