AMN Healthcare Services (AMN) Investor presentation summary

Business overview

• Total talent platform serves 2,000+ clients, made ~96K healthcare professional placements in 2025 and generated $3.5B LTM revenue; estimated 2026 U.S. healthcare staffing market is ~$40B.

• LTM revenue mix and segment operating margins: Nurse & Allied 71% and 13%; Physician & Leadership 19% and 7%; Technology & Workforce 10% and 28%.

• Solutions span travel, local and per diem staffing, locum tenens, leadership search, VMS, recruitment solutions, analytics and virtual care.

Market outlook and growth strategy

• Long-term demand drivers include aging patient and clinician populations, clinician shortages, flexible work preferences and growing use of technology-enabled care.

• U.S. population aged 65+ is projected to rise from 61M in 2024 to 78M in 2035; healthcare spending is projected to grow 5.2% annually in 2025–34.

• Healthcare staffing industry revenue fell 47% in 2022–25; SIA projects 2026 YoY growth of 2% in travel nurse and allied staffing and 4% in locum tenens.

• Growth priorities include cross-selling, gaining share across supplier-led, vendor-neutral and direct models, expanding in faster-growing markets, automation and higher-margin service lines.

• Strategic priorities include >10% annual adjusted EBITDA growth over the long term and M&A to broaden offerings, grow share, increase margins and support revenue resilience.

Technology and workforce solutions

• Differentiated capabilities include client HCM and EMR integrations, predictive analytics, automated fulfillment, workforce optimization and AI-enabled tools.

• ShiftWise Flex supports clinical and non-clinical roles, multiple assignment types, float pools and internal agency; Q3’26 average submissions were 27K/month, with 1,200+ suppliers and a 92% YTD monthly average order fill rate.

• AMN Passport supports nursing, allied and locum professionals with AI-assisted matching, self-service workflows and VMS/ATS integration; it had ~60K monthly active users and ~415K registered users as of 9/30.