Filing Flows › Nutex Health (NUTX) › Q2 2025
Nutex Health (NUTX) Q2 2025 earnings results (second quarter 2025)
10-Q filed Nov 18, 2025
Nutex Health (NUTX) reported revenue of $244M for the second quarter 2025 (Q2 2025), +221% from a year earlier and +15% from the quarter before. Operating margin was 13.8%, net earnings $16.1M (6.6% of revenue).
Nutex Health, Q2 2025: revenue $244M (+221% year over year), operating margin 13.8%, net earnings $16.1M, operating cash flow $27.3M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $244M | +15% | +221% |
| Gross profit | $125M | +6% | +454% |
| Operating profit | $33.7M | -58% | +536% |
| Net earnings | $16.1M | -68% | +436% |
| Operating cash flow | $27.3M | -47% | +106% |
| Free cash flow | $26.5M | -48% | +109% |
What changed
Revenue was $244.0M in Q2 2025, up 221% year over year and up 15% from the previous quarter. Hospital division was the largest line at 97% of revenue. Hospital division added $168.7M year over year (up 250%), 100% of the total change. Population health management division declined 9%.
Gross margin was 51.2%, up 21.5 points from a year earlier. Operating profit was $33.7M, a 13.8% margin (up 6.8 points year over year). Of the extra revenue versus a year earlier, 17% reached operating profit, above the 7% margin then. Operating expenses grew 429% against revenue growth of 221%. The fastest-growing cost line was Other operating costs (+1091%). Net earnings were −$17.7M. The effective tax rate was 32.0%.
Operating cash flow was $27.3M (up 106% year over year), 169% of net income including minority interests. Non-cash charges added back $5.2M of depreciation and amortization and $69.0M of share-based compensation. Working capital and other items used $63.1M. Capital expenditures of $751K left free cash flow of $26.5M.
Questions
What was Nutex Health's revenue in the second quarter 2025?
Nutex Health (NUTX) reported revenue of $244M for the second quarter 2025 (Q2 2025), +221% from a year earlier and +15% from the quarter before.
Was Nutex Health profitable in the second quarter 2025?
Operating profit was $33.7M (13.8% of revenue) and net earnings $16.1M.
Source: Nutex Health 10-Q on SEC EDGAR.