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NUTX

Nutex Health, Inc.

NUTX

Nutex Health, Inc. • NASDAQ
$115.11 ▲ 2.05% (+2.31)
Market Cap $685.40 M
52w High $184.28
52w Low $28.12
Dividend Yield 0%
P/E 5.62
Volume 141.00K
Outstanding Shares 5.95M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $267.804M ▲ $24.514M ▼ $55.435M ▲ 20.7% ▲ $8.27 ▲ $134.394M ▲
Q2-2025 $243.985M ▲ $91.245M ▲ $-17.697M ▼ -7.253% ▼ $-3.21 ▼ $34.658M ▼
Q1-2025 $211.789M ▼ $46.129M ▲ $14.634M ▼ 6.91% ▼ $2.65 ▼ $73.976M ▼
Q4-2024 $257.618M ▲ $27.417M ▲ $61.696M ▲ 23.949% ▲ $11.83 ▲ $118.911M ▲
Q3-2024 $78.795M $12.254M $-8.788M -11.153% $-1.72 $7.773M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $166.048M ▲ $964.518M ▲ $526.485M ▲ $317.166M ▼
Q2-2025 $96.733M ▲ $841.028M ▲ $504.151M ▲ $336.877M ▲
Q1-2025 $84.729M ▲ $761.916M ▲ $487.036M ▲ $197.108M ▲
Q4-2024 $43.581M ▼ $655.32M ▲ $453.429M ▲ $146.345M ▲
Q3-2024 $46.909M $438.489M $358.71M $60.441M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $61.649M ▲ $99.514M ▲ $-302K ▼ $-29.897M ▼ $69.315M ▲ $99.212M ▲
Q2-2025 $57.877M ▲ $27.257M ▼ $196K ▲ $-15.449M ▼ $12.004M ▼ $74.258M ▲
Q1-2025 $44.223M ▼ $50.965M ▲ $-64K ▲ $-6.812M ▼ $44.089M ▲ $50.901M ▲
Q4-2024 $99.969M ▲ $53.462K ▼ $-395.246K ▼ $-2.986M ▼ $-3.328M ▼ $-341.784K ▼
Q3-2024 $-7.165M $6.789M $-267.178K $-420.992K $6.101M $6.172M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Hospital Division
Hospital Division
 $380.00M ▲$200.00M ▼$240.00M ▲$260.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Nutex’s income statement shows a business that has swung between loss-making and profitable, with a strong-looking recovery in the most recent year. Revenue had been relatively flat and choppy for several years but has recently stepped up meaningfully. Margins were badly squeezed a couple of years ago, then gradually rebuilt, with operating profit and net profit back in positive territory. However, the history of large earnings swings and multiple reverse stock splits signals that past profitability has not been stable or predictable, and results remain sensitive to changes in reimbursement and arbitration outcomes.

Balance Sheet

Balance Sheet The balance sheet is relatively small and still somewhat fragile. Total assets have grown, but cash remains limited, suggesting only a modest financial cushion. Debt has climbed over time and now represents a meaningful piece of the capital structure, while equity is thin, even if it has improved recently. This mix points to a business that has some asset backing but does not have a particularly strong safety buffer, and it remains dependent on steady cash flow and access to financing to stay comfortable.

Cash Flow

Cash Flow Cash flow paints a slightly better picture than past earnings volatility might suggest. The company has generally generated positive operating cash flow over the last several years, though not at a large scale and with some pauses. Free cash flow has usually been positive as well, helped by relatively low recent spending on new facilities and equipment. This indicates that, for now, the core operations are roughly self-funding, but there is not a lot of room for error or for very aggressive expansion without new capital.

Competitive Edge

Competitive Edge Competitively, Nutex is trying to stand out with its micro-hospital model and its integration with physician networks, rather than competing head-on with large hospital systems. Locating small, full-service hospitals in convenient, often underserved areas and giving doctors ownership stakes can create strong local ties and faster patient access. On top of that, the company’s assertive use of insurance arbitration under the No Surprises Act has boosted revenue, but this also creates concentration risk: the model leans heavily on a legal and regulatory framework that could change. Nutex remains a smaller player in a very crowded healthcare landscape, with an interesting niche but also exposure to pushback from insurers and regulators.

Innovation and R&D

Innovation and R&D Innovation at Nutex is centered more on technology and operating design than on traditional lab-style R&D. The Clinigence Health platform, with its data aggregation, analytics, and AI features, is a key asset that supports population health management and value-based care. Partnerships, such as the work with Amazon Web Services on advanced analytics tools, suggest a willingness to invest in digital capabilities. The integrated approach—tying physician associations, risk-based contracts, and micro-hospitals together—represents a strategic innovation in care delivery. Future initiatives like behavioral health programs and possible digital health offerings could broaden the model, but they will require careful execution and strong payer relationships to translate into durable earnings.

Summary

Overall, Nutex Health combines a novel micro-hospital and physician-aligned model with a data-driven technology platform, and its latest financial year shows a return to profitability and healthier margins. At the same time, the business is small, historically volatile, and operates with limited cash and notable debt, leaving less margin for setbacks. A significant portion of recent financial strength appears linked to an aggressive arbitration strategy under current regulations, which introduces legal and policy risk alongside operational risk. The long-term story hinges on whether Nutex can shift more of its earnings base toward stable, in-network and value-based arrangements while continuing to scale its micro-hospital network and technology platform without overstretching its financial position.

NEWS

November 26, 2025 · 4:10 PM UTC

NUTEX HEALTH RESPONDS TO SHORT SELLER REPORT

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November 24, 2025 · 4:38 PM UTC

NUTEX HEALTH REOPENS RED RIVER ER & HOSPITAL IN TEXAS

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November 19, 2025 · 4:30 PM UTC

NUTEX HEALTH REPORTS SEPTEMBER 30, 2025 THIRD QUARTER AND YEAR-TO-DATE FINANCIAL RESULTS

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November 18, 2025 · 6:59 PM UTC

NUTEX HEALTH REPORTS JUNE 30, 2025 SECOND QUARTER AND YEAR-TO-DATE FINANCIAL RESULTS

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November 18, 2025 · 6:50 PM UTC

NUTEX HEALTH REPORTS RESTATED FIRST QUARTER 2025 FINANCIAL RESULTS

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