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How Nutex Health (NUTX) makes money

Nutex Health (NUTX) made $218M of revenue in the third quarter 2026 (Q3 2026), -19% from a year earlier. Hospital division revenue brought in $209M (96%); Population health management division brought in $8.5M (4%). Of every dollar of revenue, 47¢ was left as gross profit, 35¢ was left as operating profit, 18¢ was left as net earnings.

Drawing the Sankey…

Nutex Health revenue by segment, Q3 2026Nutex Health revenue by segment, Q3 2026Hospital division revenue$209MPopulation health management divi…$8.5M
Nutex Health: revenue by line, Q1 2026 to Q3 2026Nutex Health: revenue by line, Q1 2026 to Q3 2026Hospital division rev…Population health man…Hospital division revenue: $209M latest$209MPopulation health management division: $8.5M latestQ1 2026Q2 2026Q3 2026
The mix barely moved between Q1 2026 and Q3 2026.
Nutex Health revenue by quarterNutex Health revenue by quarter$212MQ1 2025$244MQ2 2025$268MQ3 2025$152MQ4 2025$216MQ1 2026$211MQ2 2026$218MQ3 2026
Nutex Health: where each dollar of revenue goesNutex Health: where each dollar of revenue goesCost of revenue53¢Gross profit47¢Operating expenses11¢Operating profit35¢Income tax7¢Net earnings18¢Operating cash flow36¢Free cash flow34¢

Revenue by segment, Q3 2026

SegmentRevenueShareQ/QY/Y
Hospital division revenue$209M96.1%+4%-20%
Population health management division$8.5M3.9%-4%+13%

Where each dollar of revenue goes

LineQ3 2026% of revenue
Revenue$218M100.0%
Cost of revenue$116M53.3%
Gross profit$102M46.7%
Operating expenses$24.4M11.2%
Operating profit$77.1M35.4%
Income tax$15.2M7.0%
Net earnings$40.2M18.5%
Operating cash flow$78.3M36.0%
Free cash flow$73.1M33.6%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q3 2026$218M-19%
Q2 2026$211M-14%
Q1 2026$216M+2%
Q4 2025$152M-41%
Q3 2025$268M+240%
Q2 2025$244M+221%
Q1 2025$212M+214%

From Nutex Health's 10-Q filed Nov 5, 2026 (on EDGAR).

Questions

How does Nutex Health make money?

Nutex Health (NUTX) made $218M of revenue in the third quarter 2026 (Q3 2026), -19% from a year earlier. Hospital division revenue brought in $209M (96%); Population health management division brought in $8.5M (4%). Of every dollar of revenue, 47¢ was left as gross profit, 35¢ was left as operating profit, 18¢ was left as net earnings.

What is Nutex Health's biggest business?

Hospital division revenue: $209M in the third quarter 2026, 96% of revenue, -20% from a year earlier.

What is Nutex Health's profit margin?

Net earnings were $40.2M, 18.5% of revenue, in the third quarter 2026; the operating margin was 35.4%.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.