The travel nurse business is right on the cusp of getting back to a positive year-over-year growth on a consistent basis.

May 7, 2026 / receipt, needs a key / CEO, CEO | earnings call 2026-05-07 | transcript e6587416-9d19-470f-ba17-584bcbe3ea7c | chars 27207-27328 | segment 27

Travel nurse revenue in the fourth quarter was $209 million, a decrease of 9% from the prior year period, though up 6% from the prior quarter.

Feb 19, 2026 / receipt, needs a key / Carrie Grace, CEO | earnings call 2026-02-19 | transcript db505143-929a-4451-be41-81390c7042a3 | chars 12577-12719 | segment 12

Maybe the flip side of these... academic medical centers and hospitals generally putting hiring freezes on and being a little tougher on the permanent hires might be a step up in people being willing to consider travel nurse assignments or allied assignments.

Aug 7, 2025 / receipt, needs a key / AJ Rice, analyst | earnings call 2025-08-07 | transcript 7459bd71-d663-493d-95fd-aa11d692686b | chars 27152-27411 | segment 28

Travel nurse orders in June were 15% lower than March, and our rebook retention rate for travelers fell through the quarter.

Aug 7, 2025 / receipt, needs a key / Carrie Grace, CEO | earnings call 2025-08-07 | transcript 7459bd71-d663-493d-95fd-aa11d692686b | chars 2790-2914 | segment 2

Yeah, I just add, so when you, as Kerry mentioned at the beginning of the call, we saw the extension rates decline during the second quarter. That had some nominal impact on Q2, but we're going to feel it more in the third quarter, which is reflected in the guidance and the sequential decline in travel nurse.

Aug 7, 2025 / receipt, needs a key / Kerry, CFO | earnings call 2025-08-07 | transcript 7459bd71-d663-493d-95fd-aa11d692686b | chars 23485-23795 | segment 24

Yeah, if you kind of pick up from where we had talked about before and if I looked at total travelers for nurse and allied, the one headwind that I would say which is reflective of some of the comments that we talked about with international is you do see a headwind in the nursing business of international travelers coming off.

Feb 20, 2025 / receipt, needs a key / Unidentified Speaker, other | earnings call 2025-02-20 | transcript dbf56d1c-69eb-4199-9f69-531a4633a118 | chars 47407-47736 | segment 48

Consistent with last quarter, travel nurse orders remain above the April 2024 level, though still 20% below pre-pandemic.

Feb 20, 2025 / receipt, needs a key / Carrie Grace, CEO | earnings call 2025-02-20 | transcript dbf56d1c-69eb-4199-9f69-531a4633a118 | chars 2825-2946 | segment 2

Nurse and allied gross margin in the third quarter was 25%, a decrease of 250 basis points year-over-year, primarily due to deleveraging of housing and travel expenses.

Nov 7, 2024 / receipt, needs a key / Carrie Grace, CEO | earnings call 2024-11-07 | transcript bd190da8-b724-4166-a8ab-efaec6ae7efd | chars 9563-9731 | segment 9

What I was sort of taking away from earlier comments is that the bill pay spread in travelers is getting kind of back to something that is normal, but that what's weighing on the spread gross margin is lodging and other costs related to, you know, the traveler's expenses.

Aug 8, 2024 / receipt, needs a key / Jeff Knutson, CFO | earnings call 2024-08-08 | transcript 12dff11b-33aa-4845-95ac-6f0246f4a7ff | chars 34379-34651 | segment 35

Nurse and allied gross margin in the second quarter was 23.8%, a decrease of 290 basis points year-over-year, primarily due to increases in housing, travel, and allowance expenses, and the deleveraging impact of lower bill rates. Sequentially, gross margin decreased 130 basis points, mainly due to a workers' comp accrual adjustment that benefited the first quarter margin, along with higher housing costs.

Aug 8, 2024 / receipt, needs a key / Jeff, CFO | earnings call 2024-08-08 | transcript 12dff11b-33aa-4845-95ac-6f0246f4a7ff | chars 5638-6045 | segment 5

Yeah, let me talk a little about competition and then, you know, Jeff can talk a little about the transparency we have on bill rates. We have been in a competitive environment. We continue to be in a competitive environment. So I don't see that changing in the short and intermediate term. And so we've seen pressure, as everyone in the industry has, over the past year. So that's reflected in both what you have seen from a performance standpoint, but also our forecasting. Yeah, Mark, and then I would just say on the bill rates for the third quarter, when we look at, you know, the bill rates that we have in July for our travelers on assignment and where we're booking, you know, future TOA, that supports that low single digit down into the third quarter.

Aug 8, 2024 / receipt, needs a key / Jeff Knutson, CFO | earnings call 2024-08-08 | transcript 12dff11b-33aa-4845-95ac-6f0246f4a7ff | chars 22429-23189 | segment 23

Yeah, that's accurate. You know, when we think about nurse and allied gross margins in the second quarter, you know, all other elements of the bill pay spread actually improved slightly over Q1 levels, and the downdraft came from the housing and the per diems, you know, as well as we had a favorable workers' comp adjustment in the first quarter that didn't repeat in Q2 within nurse and allied.

Aug 8, 2024 / receipt, needs a key / Jeff Knutson, CFO | earnings call 2024-08-08 | transcript 12dff11b-33aa-4845-95ac-6f0246f4a7ff | chars 34686-35082 | segment 35

Cost pressure and focused efforts to reduce use of contingent labor

ir_statement / Sep 15, 2026 / receipt

Desire to simplify and streamline management of contingent labor

ir_statement / Sep 15, 2026 / receipt

Expectation of AI enablement

ir_statement / Sep 15, 2026 / receipt

Capacity to support much larger revenue with little variable cost = better incremental profit margins

ir_statement / Sep 15, 2026 / receipt

Resuming growth of higher-margin businesses

ir_statement / Sep 15, 2026 / receipt

Accelerate growth in faster growing markets and care settings (post-acute, imaging, PT, schools, etc.)

ir_statement / Sep 15, 2026 / receipt

Continue automation of tasks and process redesign to lower costs, improve speed and leverage talent

ir_statement / Sep 15, 2026 / receipt

Quarter-end cash balance was $362 million. If the $117 million outstanding balance of strike-related client deposits is settled, we expect to retain at least $225 million in cash.

ir_statement / Sep 15, 2026 / receipt

Revenue was above the high end of our guidance range

ir_statement / Sep 15, 2026 / receipt

Revenue was above the high end of our guidance range with year-over-year growth in travel nurse, international nurse, allied, schools and search

ir_statement / Sep 15, 2026 / receipt

Margin Guidance Gross Margin 27.0% 27.5%

ir_statement / Sep 15, 2026 / receipt

Segment Revenue Year-over-year Rates of Change Nurse & Allied Solutions 9% 11%

ir_statement / Sep 15, 2026 / receipt