THE LEADER AND INNOVATOR IN TOTAL TALENT SOLUTIONS Q4 2025 Financial Report Supplement Slides February 19, 2026 This presentation contains certain financial measures that are not in accordance with generally accepted accounting principles in the United States ("GAAP") or with rules adopted by the SEC that apply to registration statements under the Securities Act of 1933, as amended, and periodic reports under the Exchange Act. These "non-GAAP financial measures," as defined under the rules of the SEC, are p ...

Quarterly revenue of $748 million; GAAP loss of ($0.20)/share and adjusted EPS of $0.22 DALLAS, Feb. 19, 2026 (GLOBE NEWSWIRE) -- AMN Healthcare Services, Inc. (NYSE: AMN), the leader and innovator in total talent solutions for healthcare organizations across the United States, today announced its fourth quarter and full year 2025 financial results. Financial highlights are as follows: Dollars in millions, except per share amounts. Q4 2025% ChangeQ4 2024Full Year2025% ChangeFull Year2024Revenue$748.22%$2,7 ...

The anticipated earnings per share (EPS) is $0.22, marking a significant decline of 70.7% year over year.Projected revenue is approximately $723.87 million, a slight decrease of 1.5% from the previous year.Despite the decline in earnings and revenue, there have been no revisions in the consensus EPS estimate over the past 30 days.AMN Healthcare Services (NYSE:AMN) is a prominent player in the healthcare staffing industry, providing workforce solutions and staffing services to healthcare facilities across th ...

Core Viewpoint - AMN Healthcare Services is expected to report a significant decline in quarterly earnings and revenues, indicating potential challenges ahead for the company [1]. Financial Performance - The anticipated earnings per share (EPS) for AMN Healthcare is $0.22, reflecting a 70.7% decrease compared to the same quarter last year [1]. - Analysts forecast revenues of $723.87 million, which represents a 1.5% decline year over year [1]. Analyst Projections - There have been no revisions in the consensus EPS estimate over the past 30 days, indicating stability in analysts' expectations [1]. - The revenue from 'Physician and leadership solutions' is estimated at $168.50 million, showing a year-over-year decline of 2.7% [4]. - The revenue forecast for 'Nurse and allied solutions' stands at $465.36 million, indicating a year-over-year increase of 2.4% [4]. - The projected revenue for 'Technology and workforce solutions' is $89.97 million, reflecting a significant year-over-year decline of 15.9% [5]. Segment Operating Income - The estimated segment operating income for 'Nurse and allied solutions' is $32.42 million, down from $38.93 million in the previous year [5]. - Analysts predict 'Segment operating income- Technology and workforce solutions' will reach $29.93 million, a decrease from $40.28 million reported in the same quarter last year [6]. - The expected segment operating income for 'Physician and leadership solutions' is $13.80 million, down from $17.03 million year-over-year [6]. Stock Performance - Over the past month, AMN Healthcare shares have declined by 14.6%, contrasting with a 1.4% decline in the Zacks S&P 500 composite [6]. - AMN Healthcare holds a Zacks Rank of 4 (Sell), suggesting it may underperform the overall market in the near future [6].

Group 1 - AMN Healthcare Services is experiencing a significant downturn in the healthcare contingent labor market, particularly in the nursing segment, following the end of the COVID pandemic [1] - The company is focused on identifying opportunities for substantial revenue and earnings growth that are not fully reflected in current market prices [1] - The investment strategy emphasizes long-term holding periods, with a preference for profitable companies [1] Group 2 - The article highlights the importance of writing as a tool for crystallizing thoughts and maintaining rigor in the research process [1] - The author expresses a commitment to accountability in investment decisions and encourages similar practices among active investors [1] - Seeking Alpha is recognized as a valuable resource for investors, fostering a community for sharing insights and analyses [1]

Core Viewpoint - AMN Healthcare Services, Inc. is set to discuss its fourth quarter and full year 2025 financial results along with the first quarter 2026 outlook in a conference call scheduled for February 19, 2026 [1] Group 1: Financial Results and Conference Call - The conference call will take place at 5:00 p.m. Eastern Time on February 19, 2026, following an earnings news release expected to be issued at approximately 4:15 p.m. Eastern Time on the same day [1] - A live webcast of the call will be accessible through a provided link and will also be available on AMN Healthcare's investor relations website [2] - After the call, a replay of the webcast will be available on the Company's investor relations website [3] Group 2: Company Overview - AMN Healthcare is recognized as a leader and innovator in total talent solutions for healthcare, focusing on improving care delivery through workforce solutions [4] - In 2025, AMN Healthcare professionals reached millions of patients across more than 2,000 healthcare systems, including 87 percent of the top systems nationwide [4] - The Company offers a comprehensive network of quality healthcare professionals and a fully integrated suite of customizable workforce technologies [4] Group 3: Investor Relations - The Company's common stock is listed under the symbol "AMN" on the New York Stock Exchange [5] - AMN Healthcare provides various channels for distributing information, including news releases, investor presentations, webcasts, and SEC filings, available on their investor relations website [5] - Interested parties can register for email alerts and RSS feeds for updates [5]

Core Viewpoint - AMN Healthcare Services experienced a significant share price increase of 27.6%, closing at $19.55, following the release of a growth framework and 2026 revenue expectations, despite a prior 3.2% loss over the past month [1][2]. Company Performance - AMN Healthcare is projected to report quarterly earnings of $0.22 per share, reflecting a year-over-year decline of 70.7%, with expected revenues of $723.87 million, down 1.5% from the same quarter last year [3]. - The consensus EPS estimate for AMN Healthcare has remained unchanged over the last 30 days, indicating a lack of upward revisions in earnings estimates, which typically correlates with stock price movements [4]. Growth Expectations - The company’s 2026 "base scenario" anticipates revenue growth from the normalized fourth-quarter run-rate and a gross margin expansion of 50-100 basis points, consistent with management's commentary from the third-quarter 2025 earnings [2]. - Beyond 2026, AMN Healthcare aims for 4%-6% annual organic revenue growth, leading to 10%-15% adjusted EBITDA growth driven by gross margin mix improvement and SG&A leverage [2]. Industry Context - AMN Healthcare is part of the Zacks Business - Services industry, where another company, SPS Commerce, has also maintained a stable EPS estimate, reflecting a year-over-year increase of 12.4% [4][5].

Core Viewpoint - The appointment of Richard Pazdur as the new director of the FDA's Center for Drug Evaluation and Research has boosted investor confidence in the pharmaceutical sector, leading to record-high stock prices for major pharmaceutical companies [1][2]. Group 1: Appointment Details - Richard Pazdur, with 26 years of experience at the FDA, has been appointed as the new director, succeeding George Tidmarsh, who resigned following an investigation [1]. - Pazdur will continue to serve as the director of the FDA's Oncology Center of Excellence until a successor is determined [1]. Group 2: Market Reaction - The VanEck Vectors Pharmaceutical ETF, covering 25 global pharmaceutical companies, has seen a three-day rise, reaching an all-time high, with notable gains from companies like Novo Nordisk, Bristol-Myers Squibb, and Gilead [1]. - The SPDR S&P Biotech ETF also recorded a three-day increase, hitting its highest level since January 2022, with strong performances from Regeneron and BioNTech [1]. Group 3: Analyst Sentiment - Analysts generally view Pazdur's appointment positively, with Raymond James analyst Chris Mkins stating he could be the best choice for patients and the industry [2]. - The appointment may signal a significant shift in regulatory strategy from FDA leadership, according to industry experts [2]. - Medical media outlet Stat News welcomed the appointment, highlighting it as a positive development for the FDA during a turbulent period [2].

Core Insights - AMN Healthcare Services, Inc. reported adjusted earnings per share (EPS) of 39 cents for Q3 2025, a decline of 36.1% year over year, but exceeded the Zacks Consensus Estimate by 105.3% [1] - The company's revenues for the third quarter were $634.5 million, down 7.7% year over year, yet surpassed the Zacks Consensus Estimate by 3.2% [2][9] - AMN Healthcare's gross profit fell 13.4% year over year to $184.4 million, with a gross margin contraction of 193 basis points to 29.1% [7][9] Revenue Breakdown - The Nurse and Allied Solutions segment generated revenues of $361.5 million, down 9.5% year over year, with travel nurse staffing revenues declining by 20% [4] - The Physician and Leadership Solutions segment reported revenues of $178.2 million, a decrease of 1.3% year over year, while locum tenens revenues increased by 3% to $146 million [5] - The Technology and Workforce Solutions segment's revenues totaled $94.8 million, down 11.8% year over year, with a significant 32% decline in vendor management systems revenue [6] Margin Analysis - AMN Healthcare's adjusted operating profit for the quarter was $45.8 million, reflecting a 27.7% decline from the prior year, with an adjusted operating margin contraction of 200 basis points to 7.2% [7][9] - Selling, general & administrative expenses decreased by 7.4% year over year to $138.6 million [7] Financial Position - At the end of Q3 2025, AMN Healthcare had cash and cash equivalents of $52.6 million, up from $41.5 million at the end of Q2 2025, while total debt decreased to $850 million from $920 million [10] - Cumulative net cash provided by operating activities was $193.9 million, down from $247.6 million a year ago [10] Future Guidance - For Q4 2025, AMN Healthcare expects revenues in the range of $715 million to $730 million, indicating a decline of 1-3% compared to the prior year [11] - The company anticipates a 1-3% increase in revenues for the Nurse and Allied Solutions segment, while expecting a 14-16% decline in the Technology and Workforce Solutions segment [12] Overall Assessment - The overall top-line performance in Q3 2025 was disappointing, with declines across all segments and margin pressures [13] - However, there were positive indicators such as an increase in Allied revenues and expectations for strong sequential volume growth in travel nursing for Q4 [14]

Core Insights - AMN Healthcare Services reported a third-quarter earnings beat, but shares fell 0.9% due to significant year-over-year declines in revenue and profits [1][2] - Revenue for the quarter was $634.5 million, down 7.7% from the previous year, while adjusted earnings per share were $0.39, a decrease from $0.61 in the same quarter last year [2] - Sales volumes fell 10.6% year-over-year, indicating weakening demand, and free cash flow margin contracted to 3.6% from 6.9% a year ago [2] - The company’s guidance for the fourth quarter suggests continued challenges, forecasting a 1.7% year-over-year revenue decline [2] Market Reaction - The stock has shown extreme volatility, with 34 moves greater than 5% over the last year, indicating that the market considers the recent news significant but not fundamentally altering its perception of the business [4] - AMN Healthcare Services has declined 23.7% since the beginning of the year and is trading 54.3% below its 52-week high of $40.92 from November 2024 [6] Analyst Insights - Truist Securities recently reiterated a "Buy" rating and increased its price target for AMN Healthcare Services from $20.00 to $24.00, reflecting a positive outlook on the company's future performance [5]