Gross Margin PressureGross margin has been pressured recently by reduced bill rate-pay rate spreads, resulting from lower demand and a more competitive environment within travel staffing.
Merger UncertaintyCross Country’s shares were down 24% since the announcement of the Second Request from the FTC, reflecting increased uncertainty as to whether the merger with Aya will be completed.
Revenue DeclineQ1/25 revenue of $293.4 million came in lower than the consensus of $305.4 million, while declining -23% YOY due to the continuation of softer demand conditions across the healthcare travel staffing industry.