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NRC Health (NRC) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 5, 2026
NRC Health (NRC) reported revenue of $35.2M for the fourth quarter 2025 (Q4 2025), -5% from a year earlier and +2% from the quarter before. Operating margin was 13.3%, net earnings $1.7M (4.8% of revenue).
NRC Health, Q4 2025: revenue $35.2M (-5% year over year), operating margin 13.3%, net earnings $1.7M, operating cash flow $7.2M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $35.2M | +2% | -5% |
| Operating profit | $4.7M | -40% | -51% |
| Net earnings | $1.7M | -58% | -74% |
| Operating cash flow | $7.2M | -48% | +13% |
| Free cash flow | $6.1M | -40% | +213% |
What changed
Revenue was $35.2M in Q4 2025, down 5% year over year and up 2% from the previous quarter.
Operating profit was $4.7M, a 13.3% margin (down 12.7 points year over year). Total costs grew 12% against a revenue fall of 5%. The fastest-growing cost line was SG&A (+26%). Net earnings were $1.7M, down 74% year over year. The effective tax rate was 45.0%.
Operating cash flow was $7.2M (up 13% year over year), 399% of net income including minority interests. Non-cash charges added back $2.1M of depreciation and amortization and $1.9M of share-based compensation. Working capital and other items added $1.3M. Capital expenditures of $1.1M left free cash flow of $6.1M.
Questions
What was NRC Health's revenue in the fourth quarter 2025?
NRC Health (NRC) reported revenue of $35.2M for the fourth quarter 2025 (Q4 2025), -5% from a year earlier and +2% from the quarter before.
Was NRC Health profitable in the fourth quarter 2025?
Operating profit was $4.7M (13.3% of revenue) and net earnings $1.7M.
Source: NRC Health 10-K on SEC EDGAR.