Cross Country Healthcare, Inc.

Cross Country Healthcare, Inc. reported a net loss of $94.9 million for FY 2025, a significant decline from a net loss of $14.6 million in FY 2024. Revenue decreased 21.6% year-over-year to $1.05 billion, driven by volume declines in both the Nurse and Allied Staffing and Physician Staffing segments. The company recorded substantial non-cash impairment charges of $77.9 million, primarily related to goodwill and trade names, triggered by a decline in equity market capitalization following the termination of the Aya Merger Agreement. Despite the net loss, the company generated positive operating cash flow of $48.3 million and maintained a strong liquidity position with $108.7 million in cash and equivalents and $96.3 million of net availability under its credit facility.

Key Takeaways