Cross Country Healthcare, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Cross Country Healthcare, Inc. filed its Q1 2024 10-Q report on May 2, 2024.</b>

AI Summary

CROSS COUNTRY HEALTHCARE INC (CCRN) filed a Quarterly Report (10-Q) with the SEC on May 2, 2024. Cross Country Healthcare, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on December 31st. The filing was made on May 2, 2024. The company is incorporated in Delaware.

Why It Matters

For investors and stakeholders tracking CROSS COUNTRY HEALTHCARE INC, this filing contains several important signals. This 10-Q filing provides an update on the company's financial performance and operational status for the first quarter of 2024. Investors and analysts will use this report to assess the company's current financial health, identify trends, and make informed investment decisions.

Risk Assessment

Risk Level: medium — CROSS COUNTRY HEALTHCARE INC shows moderate risk based on this filing. The company operates in the healthcare staffing services industry, which is subject to regulatory changes and market demand fluctuations, as indicated by the filing of a 10-Q report.

Analyst Insight

Monitor future 10-Q filings for detailed financial performance and segment-specific revenue trends.

Key Numbers

• 2024-03-31 — Period End Date (Conformed Period of Report)
• 2024-05-02 — Filing Date (As of Date)
• 1231 — Fiscal Year End (Fiscal Year End)
• 7363 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• CROSS COUNTRY HEALTHCARE INC (company) — Filer name
• 0001141103 (company) — Central Index Key
• 7363 (company) — Standard Industrial Classification
• DE (company) — State of Incorporation
• BOCA RATON (company) — Business Address City
• FL (company) — Business Address State
• 2024-05-02T00:00:00.000Z (date) — Filing Date
• 2024-03-31 (date) — Period of Report

FAQ

Industry Context

Cross Country Healthcare operates in the healthcare staffing services industry, providing temporary and permanent staffing solutions to healthcare facilities.

Regulatory Implications

The healthcare industry is subject to various regulations, including those related to staffing and patient care, which can impact operations.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management discussion.
2. Analyze segment performance for Nurse and Allied Staffing and Physician Staffing.
3. Compare Q1 2024 results with previous periods to identify trends.

Key Dates

• 2024-05-02T00:00:00.000Z: 10-Q Filing — Report for the quarter ended March 31, 2024
• 2024-03-31: Quarter End Date — End of the reporting period for the 10-Q
• 2024-01-01: Quarter Start Date — Beginning of the reporting period for the 10-Q

Year-Over-Year Comparison

This is the initial filing analyzed for the period ending March 31, 2024.

Key Financial Figures

• $0.0001 — ich registered Common stock, par value $0.0001 per share CCRN The Nasdaq Stock Market

Filing Documents

• ccrn-20240331.htm (10-Q) — 874KB
• ccrn20240331-10qex3x1.htm (EX-3.1) — 119KB
• ccrn20240331-10qex10x1.htm (EX-10.1) — 88KB
• ccrn20240331-10qex10x2.htm (EX-10.2) — 9KB
• ccrn20240331-10qex31x1.htm (EX-31.1) — 10KB
• ccrn20240331-10qex31x2.htm (EX-31.2) — 10KB
• ccrn20240331-10qex32x1.htm (EX-32.1) — 5KB
• ccrn20240331-10qex32x2.htm (EX-32.2) — 5KB
• ccrn-20240331_g1.jpg (GRAPHIC) — 429KB
• image_0.jpg (GRAPHIC) — 53KB
• image_1.jpg (GRAPHIC) — 20KB
• 0001628280-24-019778.txt (&nbsp;) — 6870KB
• ccrn-20240331.xsd (EX-101.SCH) — 42KB
• ccrn-20240331_cal.xml (EX-101.CAL) — 66KB
• ccrn-20240331_def.xml (EX-101.DEF) — 162KB
• ccrn-20240331_lab.xml (EX-101.LAB) — 538KB
• ccrn-20240331_pre.xml (EX-101.PRE) — 365KB
• ccrn-20240331_htm.xml (XML) — 717KB

– FINANCIAL INFORMATION

PART I. – FINANCIAL INFORMATION 1 Item 1. Condensed Consolidated Financial Statements 1 Condensed Consolidated Balance Sheets (Unaudited) 1 Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) 2 Condensed Consolidated Statements of Stockholders' Equity (Unaudited) 3 Condensed Consolidated Statements of Cash Flows (Unaudited) 4 Notes to Condensed Consolidated Financial Statements (Unaudited) 5 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 21 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 30 Item 4.

Controls and Procedures

Controls and Procedures 30

– OTHER INFORMATION

PART II. – OTHER INFORMATION 31 Item 1.

Legal Proceedings

Legal Proceedings 31 Item 1A.

Risk Factors

Risk Factors 31 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 31 Item 5. Other Information 32 Item 6. Exhibits 33

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS CROSS COUNTRY HEALTHCARE, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited, amounts in thousands) March 31, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 5,242 $ 17,094 Accounts receivable, net of allowances of $ 20,145 in 2024 and $ 20,547 in 2023 357,458 372,352 Income taxes receivable 6,326 6,898 Prepaid expenses 7,616 7,681 Insurance recovery receivable 8,815 9,097 Other current assets 1,861 2,031 Total current assets 387,318 415,153 Property and equipment, net of accumulated depreciation of $ 17,135 in 2024 and $ 15,808 in 2023 28,200 27,339 Operating lease right-of-use assets 1,831 2,599 Goodwill 135,430 135,430 Other intangible assets, net 51,742 54,468 Deferred tax assets 6,805 5,954 Insurance recovery receivable 23,120 25,714 Cloud computing 7,209 5,987 Other assets 6,784 6,673 Total assets $ 648,439 $ 679,317 Liabilities and Stockholders' Equity Current liabilities: Accounts payable and accrued expenses $ 68,921 $ 85,333 Accrued compensation and benefits 51,606 52,297 Operating lease liabilities 2,362 2,604 Earnout liability 4,100 6,794 Other current liabilities 1,453 1,559 Total current liabilities 128,442 148,587 Operating lease liabilities 2,130 2,663 Accrued claims 34,299 34,853 Earnout liability — 5,000 Uncertain tax positions 11,339 10,603 Other liabilities 4,039 4,218 Total liabilities 180,249 205,924 Commitments and contingencies Stockholders' equity: Common stock 4 4 Additional paid-in capital 228,525 236,417 Accumulated other comprehensive loss ( 1,388 ) ( 1,385 ) Retained earnings 241,049 238,357 Total stockholders' equity 468,190 473,393 Total liabilities and stockholders' equity $ 648,439 $ 679,317 See accompanying notes to the condensed consolidated financial statements 1 CROSS COUNTRY HEALTHCARE, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Unaudited, amount

View Full Filing

View this 10-Q filing on SEC EDGAR