Wed, Mar 5, 9:46 PM (52 days ago)
**Cross Country Healthcare, Inc. (CCRN) 2024 Financial Summary** Cross Country Healthcare, Inc. reported a significant decline in financial performance for the fiscal year ended December 31, 2024, with total revenue falling 33.5% to $1,344,004, primarily due to decreased demand in the Nurse and Allied Staffing segment, which accounted for 85% of revenue. The company incurred a net loss of $14,556 compared to a net income of $72,631 in 2023. Operating expenses decreased by 28.7% to $1,360,869, but the contribution income dropped 57.5% to $87,950. The company’s cash and cash equivalents rose to $81,633, with no borrowings under its asset-based loan agreement. Strategically, Cross Country announced a merger with Aya Healthcare, expected to close in the second half of 2025, subject to regulatory approvals. This merger aims to enhance market position amid a competitive landscape. Risk factors include ongoing labor shortages, regulatory changes, and economic pressures affecting demand and pricing for services. Despite challenges, the company plans to focus on technology investments and diversifying its service offerings to improve operational efficiency and solidify its market presence.