Filing Flows › AMN Healthcare Services (AMN) › Q2 2025
AMN Healthcare Services (AMN) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 8, 2025
AMN Healthcare Services (AMN) reported revenue of $658M for the second quarter 2025 (Q2 2025), -11% from a year earlier and -5% from the quarter before. Operating margin was -18.8%, net loss $116M (17.7% of revenue).
AMN Healthcare Services, Q2 2025: revenue $658M (-11% year over year), operating margin -18.8%, net loss $116M, operating cash flow $78.5M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $658M | -5% | -11% |
| Operating profit | −$124M | -1089% | — |
| Net earnings | −$116M | — | — |
| Operating cash flow | $78.5M | -15% | -21% |
| Free cash flow | $68.7M | -17% | -5% |
What changed
Revenue was $658.2M in Q2 2025, down 11% year over year and down 5% from the previous quarter. Travel nurse staffing was the largest line at 32% of revenue. Travel nurse staffing lost $68.6M year over year (down 25%), 83% of the total change.
Gross margin was 29.8%, down 1.2 points from a year earlier. Operating costs exceeded revenue by $123.7M, an operating margin of -18.8%. Operating expenses grew 67% against a revenue fall of 11%. The fastest-growing cost line was Other operating costs (+284%). The quarter ended with a net loss of $116.2M, wider than the previous quarter's $1.1M loss.
Operating cash flow was $78.5M (down 21% year over year). Non-cash charges added back $39.9M of depreciation and amortization and $8.8M of share-based compensation. Working capital and other items added $146.0M. Capital expenditures of $9.8M left free cash flow of $68.7M.
Questions
What was AMN Healthcare Services' revenue in the second quarter 2025?
AMN Healthcare Services (AMN) reported revenue of $658M for the second quarter 2025 (Q2 2025), -11% from a year earlier and -5% from the quarter before.
Was AMN Healthcare Services profitable in the second quarter 2025?
Operating loss was $124M (-18.8% of revenue) and net loss $116M.