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Cross Country Healthcare (CCRN)
NASDAQ:CCRN

Cross Country Healthcare (CCRN) AI Stock Analysis

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CCRN

Cross Country Healthcare

(NASDAQ:CCRN)

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Neutral 55 (OpenAI - 5.2)
Rating:55Neutral
Price Target:
$10.00
▲(17.79% Upside)
Action:ReiteratedDate:03/06/26
The score is held back primarily by sharply weakened financial performance (losses and multi-year revenue contraction, including a major reported 2025 revenue anomaly), partially offset by low leverage and positive recent cash generation. Technicals show improving near-term momentum but a still-weak longer-term trend, while valuation is constrained by negative earnings. The earnings call adds modest support due to clear cost actions, strong liquidity, and a defined (but execution-dependent) recovery plan.

Cross Country Healthcare (CCRN) vs. SPDR S&P 500 ETF (SPY)

Cross Country Healthcare Business Overview & Revenue Model

Company DescriptionCross Country Healthcare (CCRN) is a leading provider of healthcare staffing and workforce solutions, specializing in the recruitment and placement of healthcare professionals across various sectors, including nursing, allied health, and physician services. The company operates primarily in the temporary staffing market, offering a range of services such as travel nursing, per diem staffing, and recruitment process outsourcing. With a focus on meeting the dynamic needs of healthcare facilities, CCRN leverages technology and deep industry expertise to deliver high-quality staffing solutions that enhance patient care.
How the Company Makes MoneyCross Country Healthcare generates revenue primarily through its staffing services, which include travel nursing, per diem staffing, and other workforce solutions. The company charges healthcare facilities for the placement of temporary and permanent staff, earning a markup on the salaries of the healthcare professionals it places. Additional revenue streams include recruitment process outsourcing and managed services provider solutions. Significant partnerships with healthcare institutions and organizations enhance its ability to fill staffing needs efficiently. The demand for temporary healthcare staffing, driven by factors such as seasonal fluctuations, increased patient volumes, and workforce shortages, contributes to consistent revenue generation for CCRN.

Cross Country Healthcare Earnings Call Summary

Earnings Call Date:Mar 04, 2026
(Q4-2025)
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% Change Since: |
Next Earnings Date:May 06, 2026
Earnings Call Sentiment Neutral
The call presents a balanced picture: the company reported significant revenue declines and a large noncash impairment that pressured profitability in 2025, but it also emphasized a strong balance sheet (no debt, $109M cash), meaningful cost reductions, accelerating weekly production and strategic investments in proprietary technology (Intellify/Xperience) and AI. Management provided cautious near-term guidance (Q1 revenue $235M–$240M; adjusted EBITDA ~$4M–$5M) while outlining a credible path to recovery — targeting a >$1B revenue run-rate and 4%–5% adjusted EBITDA margin by year-end 2026 — backed by redeployed cost savings, headcount optimization, and growth in higher-margin segments (home-based and education). Given the material past declines and impairment but clear remediation plans, the tone is cautiously optimistic with balanced risks and opportunities.
Q4-2025 Updates
Positive Updates
Strong balance sheet and capital flexibility
Ended Q4 with $109 million in cash and no debt, enabling discretionary deployment of capital. Completed share repurchases (December: >800,000 shares for $6.8M; additional ~486,000 shares purchased in Q1). Generated $18M cash from operations in Q4 and $48M for the full year.
Technology-led strategy and product momentum (Intellify & Xperience)
Proprietary platforms Intellify (market-leading workforce intelligence VMS) and Xperience (candidate mobile engagement) positioned as growth engines. Company plans to expand Intellify into home-based and education markets in 2026, has licensed the technology to other staffing firms, and is investing in AI/automation to improve recruiter productivity and operational efficiency.
Cost reductions and redeployment to revenue producers
Full-year SG&A declined to $200M from $233M (down 14% YoY); excluding nonrecurring severance, quarterly SG&A would have been $43M (19% decline YoY) and full year $186M (16% decline YoY). U.S. headcount down ~21% from the start of the year; savings are being redeployed to add dozens of recruiters, account managers and sales professionals with early positive results.
Strong growth in higher-margin, strategic segments
Home-based staffing: Q4 revenue $34M, up 34% YoY; annualized run-rate north of $140M with continued mid- to double-digit growth. Education staffing: Q4 revenue $18M, up 48% sequentially and full-year revenue $71M with ~28% gross margin. These segments are expected to help expand consolidated margins.
Stabilizing demand and improving operational momentum
Weekly production since start of 2026 has outpaced Q4 2025; travelers on assignment expected to be flat to up slightly sequentially and projected to grow each month into Q2. Q1 2026 guidance: revenue $235M–$240M and adjusted EBITDA $4M–$5M (~2% margin). Management targets exiting 2026 with revenue run-rate >$1B and adjusted EBITDA margin of 4%–5%.
Gross margin stability despite headwinds
Q4 gross profit $48M with a consolidated gross margin of 20.3% (down 10 bps sequentially but up 30 bps YoY). Gross margin ranged ~20.0%–20.4% during the year, with management planning mix and higher-margin growth to support margin expansion.
Negative Updates
Material revenue declines
Consolidated Q4 revenue $237M, down 5% sequentially and 24% year-over-year. Full year revenue $1.05B, down 22% YoY. The declines are largely attributable to normalization of contingent utilization across core Nurse and Allied businesses (notably Travel).
Significant weakness in travel and Nurse & Allied
Nurse & Allied Q4 revenue $194M, down 4% sequentially and 24% YoY. Travel (largest subsegment) down 9% sequentially and 30% YoY driven by fewer travelers on assignment despite stable average bill rates. Local & per diem down 8% sequentially; education was pressured YoY (down ~7%).
Low profitability and large non-cash impairment
Adjusted EBITDA was only $4M in Q4 (1.7% of revenue) and $27M for the full year (2.5% margin). The company recorded a $78M noncash impairment (goodwill and indefinite-lived assets) after a decline in share price tied to the termination of the merger agreement; this triggered a valuation allowance on deferred tax assets and contributed to a Q1 adjusted EPS loss guidance of $0.04–$0.06.
Margin pressure from bill-pay spread compression
Travel continues to face tight bill-pay spreads as competitors compete for market share. Management does not expect near-term easing of margin pressure within travel and will rely on mix shift to higher-margin businesses to protect consolidated gross margins.
Nonrecurring costs and merger-related disruption
SG&A in the quarter included nonrecurring severance related to CEO transition. Management acknowledged that the pending merger in 2025 introduced uncertainty that weighed on growth and that termination of the merger contributed to share price decline and related accounting charges.
Q1 headwinds and near-term impacts
Q1 guidance assumes payroll tax will negatively impact results by approximately $2M, gross margin 19.5%–20%, and modest adjusted EBITDA (~2%). Labor disruption contribution is expected to be in the single millions only; travel margin headwinds persist.
Company Guidance
Management guided Q1 2026 revenue of $235–$240 million, adjusted EBITDA of $4–$5 million (≈2% margin) and adjusted EPS of a loss of $0.04–$0.06 on ~31.5 million shares, assuming gross margin of 19.5%–20%, net interest income of $0.3 million, depreciation & amortization of $4 million, stock‑based compensation of $1.3 million, a tax provision of ~$0.4 million and a ~$2 million payroll‑tax headwind; they also reiterated a 2026 exit target of a revenue run‑rate north of $1.0 billion (Q4 revenue >$250 million) and an adjusted EBITDA margin of 4%–5%.

Cross Country Healthcare Financial Statement Overview

Summary
Operating performance is the key drag: revenue has been contracting and profitability deteriorated from profits in 2021–2023 to losses in 2024 and a much larger loss in 2025 (net income -$94.9M), with the reported 2025 revenue drop to zero highlighted as a major red flag. Offsetting factors include a conservatively financed balance sheet (very low leverage) and generally positive recent operating/free cash flow, but the earnings trend dominates.
Income Statement
26
Negative
Profitability has deteriorated sharply: the company moved from solid profits in 2021–2023 to losses in 2024 (net margin about -1.1%) and a much larger loss in 2025 (net income -$94.9M). Revenue has also been contracting for several years, including a steep decline in 2024 and a reported drop to zero revenue in 2025, which signals either severe operational disruption or a data/reporting anomaly—either way it is a major red flag. Margins were healthy in 2021–2022, but the recent swing to negative earnings and weakening trajectory heavily pressures the score.
Balance Sheet
78
Positive
The balance sheet looks conservatively financed, with very low leverage in 2023–2025 (debt-to-equity roughly ~0.7%–1.1%) and a meaningful equity base. However, returns have weakened materially: return on equity fell from strong positives in 2021–2023 to negative in 2024 and sharply negative in 2025, reflecting the earnings downturn. Overall, financial risk from debt appears low, but profitability and capital efficiency are currently poor.
Cash Flow
62
Positive
Cash generation is mixed but relatively resilient recently: operating cash flow and free cash flow were positive in 2022–2025, including strong operating cash flow in 2023–2024, and free cash flow was essentially equal to operating cash flow in 2025. That said, cash flow has been volatile (notably negative operating and free cash flow in 2021), and recent cash flow has not consistently scaled with reported earnings, given net losses in 2024–2025. The company is still generating cash, but the variability and disconnect versus profitability keep the score in the middle range.
Breakdown
Income Statement
Total Revenue
Gross Profit
EBITDA
Net Income
Balance Sheet
Total Assets
Cash, Cash Equivalents and Short-Term Investments
Total Debt
Total Liabilities
Stockholders Equity
Cash Flow
Free Cash Flow
Operating Cash Flow
Investing Cash Flow
Financing Cash Flow

Cross Country Healthcare Technical Analysis

Technical Analysis Sentiment
Neutral
Last Price8.49
Price Trends
50DMA
8.83
Positive
100DMA
9.65
Negative
200DMA
11.42
Negative
Market Momentum
MACD
0.28
Negative
RSI
56.35
Neutral
STOCH
59.88
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CCRN, the sentiment is Neutral. The current price of 8.49 is below the 20-day moving average (MA) of 9.03, below the 50-day MA of 8.83, and below the 200-day MA of 11.42, indicating a neutral trend. The MACD of 0.28 indicates Negative momentum. The RSI at 56.35 is Neutral, neither overbought nor oversold. The STOCH value of 59.88 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for CCRN.

Cross Country Healthcare Peers Comparison

Overall Rating
UnderperformOutperform
Sector (―)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
69
Neutral
$1.14B16.58-1.69%12.48%-9.28%
62
Neutral
$1.22B54.152.93%68.17%-85.42%
60
Neutral
$443.60M0.82-31.57%0.74%
55
Neutral
$304.77M-2.77-24.30%-22.14%-787.87%
52
Neutral
$730.32M-6.34-35.90%-11.42%-617.31%
43
Neutral
$248.92M-0.70-116.65%5.21%5.21%
* Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
CCRN
Cross Country Healthcare
9.43
-5.89
-38.45%
AMN
AMN Healthcare Services
18.90
-5.69
-23.14%
CYH
Community Health
3.20
0.34
11.89%
ASTH
Astrana Health
24.26
-6.34
-20.72%
INNV
InnovAge Holding
8.39
5.11
155.79%
AGL
Agilon Health
0.60
-3.60
-85.71%

Cross Country Healthcare Corporate Events

Business Operations and StrategyStock BuybackFinancial Disclosures
Cross Country Healthcare Reports 2025 Results Amid Market Challenges
Negative
Mar 4, 2026

Cross Country Healthcare reported that on March 4, 2026, it released fourth-quarter and full-year 2025 results marked by a 24% year-over-year revenue decline in the quarter to $236.8 million and a 22% drop for the year to $1.05 billion, alongside a sharply wider net loss of $82.9 million in Q4 and $94.9 million for 2025 driven largely by a $77.9 million goodwill and trade name impairment and a $29.6 million deferred tax valuation allowance. Despite continued positive operating cash flow, a strong debt-free balance sheet with about $109 million in cash, share repurchases equivalent to 2.5% of outstanding stock, and broad adoption of its Intellify platform, the company faced a challenging market for travel staffing and disruption from a terminated merger with Aya, even as management signaled a renewed focus on technology-driven growth and cost savings from a 21% U.S. headcount reduction and its India center of excellence.

The most recent analyst rating on (CCRN) stock is a Hold with a $11.00 price target. To see the full list of analyst forecasts on Cross Country Healthcare stock, see the CCRN Stock Forecast page.

Business Operations and Strategy
Cross Country Healthcare Plans Targeted March Investor Conference Outreach
Positive
Feb 23, 2026

On February 23, 2026, Cross Country Healthcare, Inc. announced that it will participate in two investor conferences in March, underscoring its effort to engage with the financial community and highlight its healthcare labor technology platform. The company will attend the Truist Securities Virtual Human Capital Conference on March 12-13, 2026, and the Oppenheimer 36th Annual Healthcare MedTech & Services Conference on March 16-19, 2026, with its CFO and head of investor relations conducting one-on-one meetings but making no formal presentations, signaling a focus on targeted investor outreach rather than broad public showcases.

The most recent analyst rating on (CCRN) stock is a Hold with a $11.00 price target. To see the full list of analyst forecasts on Cross Country Healthcare stock, see the CCRN Stock Forecast page.

Financial Disclosures
Cross Country Healthcare Schedules Q4 and 2025 Earnings Call
Neutral
Feb 12, 2026

Cross Country Healthcare, Inc., a technology-driven healthcare workforce solutions provider, specializes in an AI-enabled, cloud-based workforce and vendor management platform that supports hospitals and health systems in managing per diem staffing, internal float pools, and broader labor optimization. Its Intellify platform is designed to enhance workforce visibility, streamline reporting and workflows, and support data-driven decisions that reduce labor costs while sustaining high-quality clinical outcomes.

On February 12, 2026, Cross Country Healthcare announced it would hold a conference call on March 4, 2026, to discuss its fourth quarter and full-year 2025 financial results, with an earnings release scheduled after the market close that same day. The call, which will be webcast and made available for replay, signals an upcoming update on the company’s financial performance and operational trajectory, providing investors and other stakeholders with insight into how its workforce solutions strategy is translating into results.

The most recent analyst rating on (CCRN) stock is a Hold with a $11.00 price target. To see the full list of analyst forecasts on Cross Country Healthcare stock, see the CCRN Stock Forecast page.

Regulatory Filings and ComplianceShareholder Meetings
Cross Country Sets Earlier Virtual 2026 Annual Meeting
Neutral
Jan 29, 2026

Cross Country Healthcare, Inc.’s board of directors scheduled the company’s 2026 Annual Meeting of Stockholders as a virtual-only event to be held on May 11, 2026, moving it more than 30 days earlier than the anticipated anniversary date of the 2025 annual meeting. Because of this change in timing, the company revised the deadlines for stockholder actions: proposals for inclusion in the proxy statement under SEC Rule 14a-8 must be received at its Boca Raton, Florida headquarters by the close of business on March 11, 2026; advance-notice proposals of business or board nominees under the company’s bylaws must be delivered by February 10, 2026; and stockholders intending to solicit proxies for alternative director nominees under the universal proxy rules must provide the required notice by March 12, 2026, ensuring investors and activists have clear timelines for influencing governance and board composition at the 2026 meeting.

The most recent analyst rating on (CCRN) stock is a Hold with a $9.00 price target. To see the full list of analyst forecasts on Cross Country Healthcare stock, see the CCRN Stock Forecast page.

Business Operations and StrategyExecutive/Board Changes
Cross Country Healthcare Appoints New CEO Kevin C. Clark
Positive
Dec 15, 2025

On December 15, 2025, Cross Country Healthcare announced the departure of John A. Martins as President and CEO, effective December 14, 2025. Kevin C. Clark, the company’s co-founder and current Chairman, has been appointed as the new President and CEO. This leadership change is seen as a strategic move to usher in a new era of growth and innovation, particularly following the termination of a transaction with Aya Healthcare. Clark’s extensive experience in the healthcare staffing industry is expected to drive the company towards sustainable, long-term profitable growth.

The most recent analyst rating on (CCRN) stock is a Hold with a $9.00 price target. To see the full list of analyst forecasts on Cross Country Healthcare stock, see the CCRN Stock Forecast page.

Executive/Board ChangesShareholder Meetings
Cross Country Healthcare Holds Annual Stockholders Meeting
Neutral
Dec 11, 2025

On December 9, 2025, Cross Country Healthcare held its Annual Meeting of Stockholders where several key proposals were voted on. The stockholders approved the election of directors for a one-year term, ratified the appointment of Deloitte & Touche as the independent registered public accounting firm for the fiscal year ending December 31, 2025, and approved the compensation of named executive officers on an advisory basis.

The most recent analyst rating on (CCRN) stock is a Hold with a $9.00 price target. To see the full list of analyst forecasts on Cross Country Healthcare stock, see the CCRN Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Mar 06, 2026