NUTX earnings analysis
What we found in NUTX's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
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.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Strong Year-over-Year Revenue Growth
- Revenue for Q1 2026 was $216.5 million, up 2.3% from $211.8 million in Q1 2025.
- Significant EPS Improvement
- Diluted EPS rose sharply to $6.52 compared to $3.33 in the year-ago quarter.
- Hospital Division Growth
- Hospital division revenue reached $207.6 million, an increase of 1.8% from $203.9 million in the prior year.
- Reduction in Stock-Based Compensation
- Stock-based compensation decreased from an expense of $27.6 million to a gain of $3.9 million.
- Healthy Operating Cash Flow
- Operating cash flow was $75.5 million for the quarter, reflecting efficient cash management.
- Increase in Cash and Equivalents
- Cash and cash equivalents increased to $207.3 million from $185.6 million at year-end.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Rising Arbitration Costs
- Total arbitration costs jumped from $26.3 million in Q1 2025 to $46.1 million in Q1 2026, increasing financial pressure.
- Dependence on Uncertain Legislation
- The No Surprises Act and related regulatory changes pose ongoing legal and operational risks.
- Potential Share Dilution Risk
- Possible obligation to issue shares to former owners of hospitals could significantly dilute current shareholders.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $6.52
- Gross margin
- 42.4%
- Operating margin
- 37.5%
- Segment
- Hospital division: $207,570,000
- Segment
- Population health management division: $8,915,000
What they said about what is next.
Guidance deferred to earnings press release / call.
The filing reads better than the one before it.
What came before.
- 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…
- 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. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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