v3.26.1
SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company’s operating segments are identified in the same manner as they are reported internally and used by the Company’s chief operating decision maker (“CODM”) for the purpose of evaluating performance and allocating resources. The Company has three reportable segments: (1) nurse and allied solutions, (2) physician and leadership solutions, and (3) technology and workforce solutions. The nurse and allied solutions segment includes the Company’s travel nurse staffing (including international nurse staffing and rapid response nurse staffing), labor disruption staffing, local staffing, international nurse permanent placement, and allied staffing (including revenue cycle solutions) businesses. The physician and leadership solutions segment includes the Company’s locum tenens staffing, healthcare interim leadership staffing, executive search, and physician permanent placement businesses. The technology and workforce solutions segment includes the Company’s language services, vendor management systems (“VMS”), workforce optimization, and outsourced solutions businesses.
The Company’s CODM relies on internal management reporting processes that provide revenue, gross profit and operating income by reportable segment. These financial measures are used by the CODM to evaluate segment performance, monitor variances between periods and against projections, make key operating decisions, and allocate resources such as capital and personnel to each segment. The CODM does not evaluate or measure performance of segments using asset information; accordingly, asset information by segment is not prepared or disclosed.
The following tables provide reconciliations of revenue, gross profit and operating income by reportable segment to consolidated results and were derived from each segment’s internal financial information as used for corporate management purposes. Segment operating income represents income (loss) before income taxes plus depreciation, amortization of intangible assets, share-based compensation, impairment losses for goodwill and long-lived assets, interest expense, net, and other, and unallocated corporate overhead.
Three Months Ended June 30, 2026
Nurse and Allied SolutionsPhysician and Leadership SolutionsTechnology and Workforce SolutionsTotal
Revenue
$421,968 $164,582 $86,687 $673,237 
Cost of revenue
301,940 120,899 44,516 467,355 
Gross profit120,028 43,683 42,171 205,882 
Segment selling, general and administrative expenses
61,789 32,637 20,065 114,491 
Depreciation (included in cost of revenue)— — (2,515)(2,515)
Segment operating income
$58,239 $11,046 $24,621 93,906 
Unallocated corporate overhead23,045 
Depreciation and amortization31,583 
Depreciation (included in cost of revenue)2,515 
Share-based compensation9,855 
Interest expense, net, and other7,009 
Income before income taxes$19,899 
Three Months Ended June 30, 2025
Nurse and Allied SolutionsPhysician and Leadership SolutionsTechnology and Workforce SolutionsTotal
Revenue
$381,871 $174,531 $101,773 $658,175 
Cost of revenue
290,746 125,371 45,659 461,776 
Gross profit
91,125 49,160 56,114 196,399 
Segment selling, general and administrative expenses
62,642 35,674 23,037 121,353 
Depreciation (included in cost of revenue)— — (2,132)(2,132)
Segment operating income
$28,483 $13,486 $35,209 77,178 
Unallocated corporate overhead24,404 
Depreciation and amortization37,753 
Depreciation (included in cost of revenue)2,132 
Share-based compensation8,827 
Goodwill impairment loss109,515 
Long-lived assets impairment loss18,262 
Interest expense, net, and other11,360 
Loss before income taxes$(135,075)
Six Months Ended June 30, 2026
Nurse and Allied SolutionsPhysician and Leadership SolutionsTechnology and Workforce SolutionsTotal
Revenue
$1,549,310 $328,506 $173,782 $2,051,598 
Cost of revenue
1,146,819 241,976 88,085 1,476,880 
Gross profit402,491 86,530 85,697 574,718 
Segment selling, general and administrative expenses
190,922 64,666 40,741 296,329 
Depreciation (included in cost of revenue)— — (4,935)(4,935)
Segment operating income
$211,569 $21,864 $49,891 283,324 
Unallocated corporate overhead49,740 
Depreciation and amortization64,823 
Depreciation (included in cost of revenue)4,935 
Share-based compensation19,747 
Interest expense, net, and other13,721 
Income before income taxes$130,358 
Six Months Ended June 30, 2025
Nurse and Allied SolutionsPhysician and Leadership SolutionsTechnology and Workforce SolutionsTotal
Revenue
$795,132 $348,596 $203,980 $1,347,708 
Cost of revenue
610,134 251,883 91,172 953,189 
Gross profit
184,998 96,713 112,808 394,519 
Segment selling, general and administrative expenses
124,277 68,765 46,456 239,498 
Depreciation (included in cost of revenue)— — (4,107)(4,107)
Segment operating income
$60,721 $27,948 $70,459 159,128 
Unallocated corporate overhead44,609 
Depreciation and amortization75,635 
Depreciation (included in cost of revenue)4,107 
Share-based compensation18,208 
Goodwill impairment loss109,515 
Long-lived assets impairment loss18,262 
Interest expense, net, and other23,684 
Loss before income taxes$(134,892)
The following table summarizes the activity related to the carrying value of goodwill by reportable segment:
Nurse and Allied SolutionsPhysician and Leadership SolutionsTechnology and Workforce SolutionsTotal
Balance, January 1, 2026$259,137 $128,245 $368,427 $755,809 
Goodwill from Jaide Health acquisition— — 3,190 3,190 
Balance, June 30, 2026$259,137 $128,245 $371,617 $758,999 
Accumulated impairment loss as of December 31, 2025 and June 30, 2026$277,727 $269,184 $— $546,911 
Disaggregation of Revenue
The following tables present the Company’s revenue disaggregated by service type:
Three Months Ended June 30, 2026
Nurse and Allied SolutionsPhysician and Leadership SolutionsTechnology and Workforce SolutionsTotal
Travel nurse staffing$228,011 $— $— $228,011 
Labor disruption services25,262 — — 25,262 
Local staffing8,061 — — 8,061 
Allied staffing157,216 — — 157,216 
Locum tenens staffing— 130,767 — 130,767 
Interim leadership staffing— 22,113 — 22,113 
Temporary staffing418,550 152,880 — 571,430 
Permanent placement (1)
3,418 11,702 — 15,120 
Language services— — 69,607 69,607 
Vendor management systems— — 15,160 15,160 
Technology-enabled services— — 84,767 84,767 
Talent planning and acquisition— — 1,920 1,920 
Total revenue$421,968 $164,582 $86,687 $673,237 
Three Months Ended June 30, 2025
Nurse and Allied SolutionsPhysician and Leadership SolutionsTechnology and Workforce SolutionsTotal
Travel nurse staffing$208,018 $— $— $208,018 
Labor disruption services15,751 — — 15,751 
Local staffing9,708 — — 9,708 
Allied staffing145,637 — — 145,637 
Locum tenens staffing— 142,551 — 142,551 
Interim leadership staffing— 22,742 — 22,742 
Temporary staffing379,114 165,293 — 544,407 
Permanent placement (1)
2,757 9,238 — 11,995 
Language services— — 75,706 75,706 
Vendor management systems— — 19,023 19,023 
Other technologies
— — 4,298 4,298 
Technology-enabled services— — 99,027 99,027 
Talent planning and acquisition— — 2,746 2,746 
Total revenue$381,871 $174,531 $101,773 $658,175 
Six Months Ended June 30, 2026
Nurse and Allied SolutionsPhysician and Leadership SolutionsTechnology and Workforce SolutionsTotal
Travel nurse staffing$469,500 $— $— $469,500 
Labor disruption services747,233 — — 747,233 
Local staffing17,370 — — 17,370 
Allied staffing308,505 — — 308,505 
Locum tenens staffing— 261,956 — 261,956 
Interim leadership staffing— 45,093 — 45,093 
Temporary staffing1,542,608 307,049 — 1,849,657 
Permanent placement (1)
6,702 21,457 — 28,159 
Language services— — 138,549 138,549 
Vendor management systems— — 31,105 31,105 
Technology-enabled services— — 169,654 169,654 
Talent planning and acquisition— — 4,128 4,128 
Total revenue$1,549,310 $328,506 $173,782 $2,051,598 
Six Months Ended June 30, 2025
Nurse and Allied SolutionsPhysician and Leadership SolutionsTechnology and Workforce SolutionsTotal
Travel nurse staffing$423,465 $— $— $423,465 
Labor disruption services54,382 — — 54,382 
Local staffing19,429 — — 19,429 
Allied staffing293,133 — — 293,133 
Locum tenens staffing— 283,397 — 283,397 
Interim leadership staffing— 46,559 — 46,559 
Temporary staffing790,409 329,956 — 1,120,365 
Permanent placement (1)
4,723 18,640 — 23,363 
Language services— — 150,616 150,616 
Vendor management systems— — 38,434 38,434 
Other technologies
— — 8,677 8,677 
Technology-enabled services— — 197,727 197,727 
Talent planning and acquisition— — 6,253 6,253 
Total revenue$795,132 $348,596 $203,980 $1,347,708 
(1) Includes revenue from international nurse permanent placement, physician permanent placement and executive search.
The following table presents the Company’s international nurse revenue by service type:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
International nurse staffing (1)
$36,435 $29,619 $70,857 $61,525 
International nurse permanent placement (2)
3,418 2,757 6,702 4,723 
Total international nurse revenue
$39,853 $32,376 $77,559 $66,248 
(1) Included in “Travel nurse staffing” as presented in the preceding tables.
(2) Included in “Permanent placement” as presented in the preceding tables.