MergerMay 8, 2026, 06:41 AM
Cross Country Healthcare to Merge with KL Criss Cross; Q1 Net Loss $(4.27)M
AI Summary
Cross Country Healthcare, Inc. announced it has entered into an Agreement and Plan of Merger with KL Criss Cross Intermediate, LLC, under which it will become a wholly-owned subsidiary. This strategic move comes as the company reported a significant increase in net loss for Q1 2026, reaching $(4.27) million, compared to $(0.49) million in Q1 2025. Revenue from services also saw a decline, falling to $241.06 million from $293.41 million year-over-year.
Key Highlights
- Cross Country Healthcare entered a merger agreement with KL Criss Cross Intermediate, LLC.
- Q1 2026 revenue from services decreased to $241.06 million from $293.41 million YoY.
- Net loss attributable to common stockholders increased to $(4.27) million from $(0.49) million YoY.
- Basic net loss per share was $(0.14) in Q1 2026, compared to $(0.02) in Q1 2025.
- Nurse and Allied Staffing revenue was $201.44 million in Q1 2026.
- Physician Staffing revenue was $39.61 million in Q1 2026.
- Stock repurchases and retirement totaled $(5.87) million in Q1 2026.
- The company reported $109.3 million in ABL borrowing base availability.
Price Impact
More from CCRN