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View All NewsAMN’s fourth-quarter revenue soars 116%, nurse and allied solutions segment leads growth
Fourth-quarter revenue soared 115.9% at AMN Healthcare Services Inc. (NYSE: AMN), the largest US healthcare staffing firm. Its nurse and allied solutions segment led growth with revenue up 141.6% year over year.
Travel nurse revenue alone increased 136% year over year while allied revenue was up 82%.
AMN noted the quarter included $85 million in labor disruption revenue compared with $14 million forecast in guidance and $3 million in the fourth quarter of 2020.
Gross margin narrowed in the fourth quarter to 31.9% from 32.9% in the year-ago quarter. The decline was driven by increased compensation for healthcare professionals and a mix shift toward lower-margin staffing business, the company said.
| (US$ thousands) | Q4 2021 | Q4 2020 | % change |
| Revenue | $1,363,045 | $631,271 | 115.9% |
| Gross profit | $434,325 | $207,539 | 109.3% |
| Gross margin percentage | 31.9% | 32.9% | |
| Net income | $116,217 | $9,308 | 1148.6% |
“The accelerating nurse shortage has captured nationwide attention, including the essential role of the healthcare staffing industry to enable nurses to quickly mobilize and deliver patient care in all areas of the country,” CEO Susan Salka said. “But the labor shortages and increased need for workforce solutions span far beyond nursing.”
Salka noted AMN’s allied staffing business hit an all-time high for travelers on assignment so far in the first quarter. In addition, AMN’s locum tenens division saw demand surge by 25% from the third quarter to the fourth quarter.
In addition, physician permanent placement and outsourced solutions businesses have seen a large increase in new searches, she said.
Revenue by segment
| (US$ thousands) | Q4 2021 | Q4 2020 | % change |
| Nurse and allied solutions | $1,081,908 | $447,802 | 141.6% |
| Physician and leadership solutions | $163,720 | $111,042 | 47.4% |
| Technology and workforce solutions | $117,417 | $72,427 | 62.1% |
Full-year results
| (US$ thousands) | FY 2021 | FY 2020 | % change |
| Revenue | $3,984,235 | $2,393,714 | 66.4% |
| Gross profit | $2,674,634 | $1,601,936 | 67.0% |
| Gross margin percentage | 67.1% | 66.9% | |
| Net income | $327,388 | $70,665 | 363.3% |
Guidance
AMN forecast first-quarter revenue will be up between 66% and 71% year over year. Here are the forecast year-over-year increases for the first quarter by segment:
- Nurse and allied staffing revenue, up 82%
- Physician and leadership solutions revenue, up 18%
- Technology and workforce solutions revenue, up 56%
Guidance assumes no labor disruption revenue in the quarter.
Gross margin is expected to be down by approximately 100 basis points year over year, driven by higher compensation for healthcare professionals and a revenue mix shift toward lower-margin staffing business.
Share price and market cap
Shares in AMN were up 10.35% to $102.95 as of 12:11 p.m. Eastern time; they were 20.27% below their 52-week high, according to FT.com. The company had a market cap of $4.41 billion.