Filing Flows › AMN Healthcare Services (AMN) › Q1 2026
AMN Healthcare Services (AMN) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 8, 2026
AMN Healthcare Services (AMN) reported revenue of $1.4B for the first quarter 2026 (Q1 2026), +100% from a year earlier and +84% from the quarter before. Operating margin was 8.5%, net earnings $62.2M (4.5% of revenue).
AMN Healthcare Services, Q1 2026: revenue $1.4B (+100% year over year), operating margin 8.5%, net earnings $62.2M, operating cash flow $562M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.4B | +84% | +100% |
| Gross profit | $369M | +89% | +86% |
| Operating profit | $117M | 14× | +837% |
| Net earnings | $62.2M | — | — |
| Operating cash flow | $562M | +644% | +507% |
| Free cash flow | $555M | +721% | +571% |
What changed
Revenue was $1.4B in Q1 2026, up 100% year over year and up 84% from the previous quarter. Labor disruption services was the largest line at 52% of revenue. Labor disruption services added $0.68B year over year (up 1769%), 99% of the total change. Vendor management systems declined 18%.
Gross margin was 26.8%, down 2.0 points from Q1 2025. Operating profit was $0.12B, a 8.5% margin (up 6.7 points year over year). Of the extra revenue versus Q1 2025, 15% reached operating profit, above the 2% margin then. Operating expenses grew 36% against revenue growth of 100%. The fastest-growing cost line was SG&A (+48%). Net earnings were $0.06B. The effective tax rate was 43.7%.
Operating cash flow was $0.56B (up 507% year over year), 905% of net earnings. Non-cash charges added back $0.04B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.45B. Capital expenditures of $0.01B left free cash flow of $0.56B.
Questions
What was AMN Healthcare Services' revenue in the first quarter 2026?
AMN Healthcare Services (AMN) reported revenue of $1.4B for the first quarter 2026 (Q1 2026), +100% from a year earlier and +84% from the quarter before.
Was AMN Healthcare Services profitable in the first quarter 2026?
Operating profit was $117M (8.5% of revenue) and net earnings $62.2M.