AMN Healthcare Q2 2025 Earnings Call Highlights: Revenue at Upper End of Guidance Range, Adjusted EBITDA Exceeds Expectations

AMN Healthcare expects double-digit Q4 growth in allied schools and a rebound in international nurses into 2026. In Q2 2025, the company reported revenue of $658 million, adjusted EBITDA of $58 million, and a gross margin of 29.8%, exceeding guidance ranges.

AMN Healthcare Services, Inc. (AMN) has reported its Q2 2025 financial results, showcasing resilience amidst a challenging healthcare market. The company reported revenue of $658 million, adjusted EBITDA of $58 million, and a gross margin of 29.8%, all exceeding guidance ranges [1]. Despite a 14% year-over-year decline in Nurse and Allied revenue, the company is optimistic about future growth prospects.

Caroline Sullivan Grace, President and CEO, highlighted the company's Q4 expectations, noting "double-digit volume growth from the prior year" in the Allied Schools business and anticipating a rebound in the international nurse staffing business into 2026 [1]. This optimism is based on recent improvements in key demand indicators, particularly in July when traveler extension rates rebounded sharply [1].

The company's financial results also reflected ongoing policy-driven caution and client delays, especially among academic medical centers. However, management remains focused on operational efficiency, cost management, and innovation to navigate these challenges [1]. For instance, the company repaid $80 million on its revolving line of credit and expects further debt reduction in the coming quarter [1].

AMN Healthcare's Q3 2025 guidance projects revenue between $610-625 million, representing a 9-11% year-over-year decline, with an adjusted EBITDA margin of 7.7-8.2% [2]. The company's Q2 2025 results revealed significant challenges, including a substantial net loss of $116.2 million, or ($3.02) per share, primarily due to noncash goodwill and intangible asset impairment charges totaling $128 million [2].

Despite these challenges, AMN Healthcare is positioned for sequential volume recovery into late 2025 and 2026. The company's recent strategic moves, such as the sale of its Smart Square scheduling software for $75 million, and the successful launch of its AMN Passport app with 300,000 users, indicate a proactive approach to market dynamics and client decision-making patterns [2].

References:
[1] https://seekingalpha.com/news/4482182-amn-healthcare-signals-double-digit-q4-allied-schools-growth-and-expects-international-nurse
[2] https://www.stocktitan.net/news/AMN/amn-healthcare-announces-second-quarter-2025-537mvsj9zkfc.html