Cross Country Healthcare Files Q3 2024 10-Q
Ticker: CCRN · Form: 10-Q · Filed: Nov 7, 2024 · CIK: 1141103
| Field | Detail |
|---|---|
| Company | Cross Country Healthcare INC (CCRN) |
| Form Type | 10-Q |
| Filed Date | Nov 7, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, healthcare, staffing, financials
Related Tickers: CCRN
TL;DR
CCRN's Q3 2024 10-Q is in. Check financials for latest performance.
AI Summary
Cross Country Healthcare, Inc. filed its 10-Q for the period ending September 30, 2024. The company, headquartered in Boca Raton, FL, operates in the healthcare staffing services sector. This filing provides financial updates for the third quarter of 2024, detailing performance and financial position.
Why It Matters
This filing provides investors with the latest financial performance and operational details for Cross Country Healthcare, Inc. during the third quarter of 2024.
Risk Assessment
Risk Level: medium — 10-Q filings are standard financial reports, but the healthcare staffing industry can be subject to regulatory changes and economic fluctuations.
Key Numbers
- Q3 2024 — Reporting Period (Financial performance for the third quarter of 2024 is detailed.)
- 2023-09-30 — Prior Year Period End (Comparison data for the previous year's third quarter.)
Key Players & Entities
- CROSS COUNTRY HEALTHCARE INC (company) — Filer
- BOCA RATON, FL (location) — Business Address
- 20240930 (date) — Period of Report
- 20241107 (date) — Filing Date
FAQ
What is the primary business of Cross Country Healthcare, Inc.?
Cross Country Healthcare, Inc. operates in the Services-Help Supply Services sector, specifically within healthcare staffing.
What period does this 10-Q filing cover?
This 10-Q filing covers the period ending September 30, 2024.
When was this 10-Q filing submitted to the SEC?
This 10-Q filing was submitted on November 7, 2024.
What is the company's state of incorporation?
The company is incorporated in Delaware (DE).
What is the company's fiscal year end?
The company's fiscal year ends on December 31 (1231).
Filing Stats: 4,567 words · 18 min read · ~15 pages · Grade level 18.1 · Accepted 2024-11-07 15:59:06
Key Financial Figures
- $0.0001 — ich registered Common stock, par value $0.0001 per share CCRN The Nasdaq Stock Market
Filing Documents
- ccrn-20240930.htm (10-Q) — 1623KB
- ccrn20240930-10qex31x1.htm (EX-31.1) — 10KB
- ccrn20240930-10qex31x2.htm (EX-31.2) — 10KB
- ccrn20240930-10qex32x1.htm (EX-32.1) — 5KB
- ccrn20240930-10qex32x2.htm (EX-32.2) — 5KB
- ccrn-20240930_g1.jpg (GRAPHIC) — 429KB
- 0001628280-24-046218.txt ( ) — 10244KB
- ccrn-20240930.xsd (EX-101.SCH) — 45KB
- ccrn-20240930_cal.xml (EX-101.CAL) — 72KB
- ccrn-20240930_def.xml (EX-101.DEF) — 236KB
- ccrn-20240930_lab.xml (EX-101.LAB) — 568KB
- ccrn-20240930_pre.xml (EX-101.PRE) — 462KB
- ccrn-20240930_htm.xml (XML) — 1797KB
– 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 (Loss) (Unaudited) 2 Condensed Consolidated Statements of Stockholders' Equity (Unaudited) 3 Condensed Consolidated Statements of Cash Flows (Unaudited) 5 Notes to Condensed Consolidated Financial Statements (Unaudited) 6 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 29 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 41 Item 4.
Controls and Procedures
Controls and Procedures 41
– OTHER INFORMATION
PART II. – OTHER INFORMATION 42 Item 1.
Legal Proceedings
Legal Proceedings 42 Item 1A.
Risk Factors
Risk Factors 42 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 42 Item 5. Other Information 43 Item 6. Exhibits 44
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) September 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 64,021 $ 17,094 Accounts receivable, net of allowances of $ 35,025 in 2024 and $ 20,547 in 2023 244,987 372,352 Income taxes receivable 10,128 8,620 Prepaid expenses 4,554 7,681 Insurance recovery receivable 12,102 9,097 Other current assets 794 2,031 Total current assets 336,586 416,875 Property and equipment, net of accumulated depreciation of $ 20,792 in 2024 and $ 15,808 in 2023 28,975 27,339 Operating lease right-of-use assets 2,700 2,599 Goodwill 135,430 135,430 Other intangible assets, net 46,453 54,468 Deferred tax assets 9,038 5,979 Insurance recovery receivable 21,812 25,714 Cloud computing 9,735 5,987 Other assets 6,694 6,673 Total assets $ 597,423 $ 681,064 Liabilities and Stockholders' Equity Current liabilities: Accounts payable and accrued expenses $ 58,436 $ 92,822 Accrued compensation and benefits 54,285 52,297 Operating lease liabilities 2,060 2,604 Earnout liability 4,100 6,794 Other current liabilities 1,796 1,559 Total current liabilities 120,677 156,076 Operating lease liabilities 2,348 2,663 Accrued claims 34,893 34,853 Earnout liability — 5,000 Uncertain tax positions 11,169 10,603 Other liabilities 3,645 4,218 Total liabilities 172,732 213,413 Commitments and contingencies Stockholders' equity: Common stock 3 4 Additional paid-in capital 204,273 236,417 Accumulated other comprehensive loss ( 1,397 ) ( 1,385 ) Retained earnings 221,812 232,615 Total stockholders' equity 424,691 467,651 Total liabilities and stockholders' equity $ 597,423 $ 681,064 See accompanying notes to the condensed consolidated financial statements 1 CROSS COUNTRY HEALTHCARE, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Unaud