10-K · March 5, 2026
Nutex Health’s 2025 10-K shows rapid top-line expansion driven by the hospital division: total revenue rose to $875,257,000 in 2025 from $479,949,000 in 2024 and $247,646,000 in 2023. The company operates 26…
Earnings analysis · 10-Q
NUTX earnings analysis
Filed April 30, 2026 · Our reading of the company's report
The latest report
Nutex Health reported a robust Q1 2026 with revenue reaching $216.5 million, signifying a slight growth of 2.3% year-over-year, driven by a notable 13.6% increase in hospital division revenue. Diluted EPS surged to…
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Nutex Health reported a robust Q1 2026 with revenue reaching $216.5 million, signifying a slight growth of 2.3% year-over-year, driven by a notable 13.6% increase in hospital division revenue. Diluted EPS surged to $6.52 from $3.33 a year ago, reflecting strong cost management, especially in stock-based compensation, which reported a significant reduction from $27.6 million to a gain of $3.9 million. Despite challenges such as rising arbitration costs impacting gross profit, overall performance remains resilient with improved cash flows and controlled spending.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $6.52
What stood out
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Strong Year-over-Year Revenue Growth
Revenue for Q1 2026 was $216.5 million, up 2.3% from $211.8 million in Q1 2025.
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Significant EPS Improvement
Diluted EPS rose sharply to $6.52 compared to $3.33 in the year-ago quarter.
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Hospital Division Growth
Hospital division revenue reached $207.6 million, an increase of 1.8% from $203.9 million in the prior year.
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Reduction in Stock-Based Compensation
Stock-based compensation decreased from an expense of $27.6 million to a gain of $3.9 million.
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Healthy Operating Cash Flow
Operating cash flow was $75.5 million for the quarter, reflecting efficient cash management.
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Increase in Cash and Equivalents
Cash and cash equivalents increased to $207.3 million from $185.6 million at year-end.
What to watch
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Rising Arbitration Costs
Total arbitration costs jumped from $26.3 million in Q1 2025 to $46.1 million in Q1 2026, increasing financial pressure.
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Dependence on Uncertain Legislation
The No Surprises Act and related regulatory changes pose ongoing legal and operational risks.
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Potential Share Dilution Risk
Possible obligation to issue shares to former owners of hospitals could significantly dilute current shareholders.
Management's outlook
Guidance deferred to earnings press release / call.
Earlier filings 4
10-Q · November 18, 2025
Nutex Health reported Q2 2025 revenue of $243,985,000 (vs. $76,082,000 in Q2 2024), driven by the hospital division; operating income was $33,679,000 producing a 13.8% operating margin for the quarter. GAAP diluted EPS…
10-Q · May 13, 2025
Nutex Health reported a sharply higher top line in Q1 2025 with total revenue of $211.789M (vs $67.453M in Q1 2024), driven almost entirely by the hospital division. Profitability and cash generation improved materially…
10-K · March 31, 2025
Nutex Health’s 2024 10-K shows a sharp top-line inflection driven by hospital expansion: total revenue rose to $479,948,633 in 2024 from $247,646,316 in 2023 and $219,294,306 in 2022. The company operates 24…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.