Cross Country Healthcare (CCRN) 10-Q 1 Aug 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2024	Jul. 22, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity Registrant Name	CROSS COUNTRY HEALTHCARE, INC
Entity Incorporation, State or Country Code	DE
Entity File Number	0-33169
Entity Tax Identification Number	13-4066229
Entity Address, Address Line One	6551 Park of Commerce Boulevard, N.W.
Entity Address, City or Town	Boca Raton
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33487
City Area Code	561
Local Phone Number	998-2232
Title of 12(b) Security	Common stock, par value $0.0001 per share
Trading Symbol	CCRN
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		33,808,610
Entity Central Index Key	0001141103
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 69,601	$ 17,094
Accounts receivable, net of allowances of $35,744 in 2024 and $20,547 in 2023	242,333	372,352
Income taxes receivable	8,967	6,898
Prepaid expenses	6,248	7,681
Insurance recovery receivable	8,796	9,097
Other current assets	1,813	2,031
Total current assets	337,758	415,153
Property and equipment, net of accumulated depreciation of $18,859 in 2024 and $15,808 in 2023	29,033	27,339
Operating lease right-of-use assets	2,635	2,599
Goodwill	135,430	135,430
Other intangible assets, net	49,016	54,468
Deferred tax assets	10,064	5,954
Insurance recovery receivable	23,332	25,714
Cloud computing	8,916	5,987
Other assets	6,699	6,673
Total assets	602,883	679,317
Current liabilities:
Accounts payable and accrued expenses	55,682	85,333
Accrued compensation and benefits	46,609	52,297
Operating lease liabilities	2,085	2,604
Earnout liability	4,100	6,794
Other current liabilities	1,639	1,559
Total current liabilities	110,115	148,587
Operating lease liabilities	2,652	2,663
Accrued claims	35,614	34,853
Earnout liability	0	5,000
Uncertain tax positions	11,642	10,603
Other liabilities	3,798	4,218
Total liabilities	163,821	205,924
Commitments and contingencies
Stockholders’ equity:
Common stock	3	4
Additional paid-in capital	215,449	236,417
Accumulated other comprehensive loss	(1,389)	(1,385)
Retained earnings	224,999	238,357
Total stockholders’ equity	439,062	473,393
Total liabilities and stockholders’ equity	$ 602,883	$ 679,317

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Accounts receivable, allowance for credit losses	$ 35,744	$ 20,547
Property and equipment, accumulated depreciation	$ 18,859	$ 15,808

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Revenue from Contract with Customer, Product and Service [Extensible List]	Service [Member]	Service [Member]	Service [Member]	Service [Member]
Revenue from services	$ 339,771	$ 540,695	$ 718,945	$ 1,163,402
Operating expenses:
Direct operating expenses	268,966	417,556	570,843	900,840
Selling, general and administrative expenses	60,258	78,938	123,510	163,198
Credit loss expense	18,858	3,134	20,148	8,042
Depreciation and amortization	4,719	4,432	9,361	9,336
Restructuring costs	2,116	913	3,054	1,342
Legal and other losses	3,946	0	7,596	1,125
Impairment charges	114	533	718	533
Total operating expenses	358,977	505,506	735,230	1,084,416
(Loss) income from operations	(19,206)	35,189	(16,285)	78,986
Other expenses (income):
Interest expense	568	3,149	1,030	6,839
Loss on early extinguishment of debt	0	1,723	0	1,723
Other (income) expense, net	(212)	11	(1,442)	(1)
(Loss) income before income taxes	(19,562)	30,306	(15,873)	70,425
Income tax (benefit) expense	(3,512)	8,961	(2,515)	19,644
Net (loss) income attributable to common stockholders	(16,050)	21,345	(13,358)	50,781
Other comprehensive (loss) income:
Unrealized foreign currency translation (loss) gain, net of tax	(1)	1	(4)	8
Comprehensive (loss) income	$ (16,051)	$ 21,346	$ (13,362)	$ 50,789
Net (loss) income per share attributable to common stockholders - Basic (in dollars per share)	$ (0.47)	$ 0.60	$ (0.39)	$ 1.43
Net (loss) income per share attributable to common stockholders - Diluted (in dollars per share)	$ (0.47)	$ 0.60	$ (0.39)	$ 1.41
Weighted average common shares outstanding:
Basic (shares)	33,960	35,351	34,088	35,606
Diluted (shares)	33,960	35,524	34,088	36,041

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Loss, net	Retained Earnings
Beginning balance (shares) at Dec. 31, 2022		36,303
Beginning balance at Dec. 31, 2022	$ 457,219	$ 4	$ 292,876	$ (1,387)	$ 165,726
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of restricted stock (shares)		424
Vesting of restricted stock	(4,886)		(4,886)
Equity compensation	3,980		3,980
Stock repurchase and retirement (shares)		(1,422)
Stock repurchase and retirement	(36,483)		(36,483)
Stock repurchase excise tax	(271)		(271)
Foreign currency translation adjustment, net of taxes	8			8
Net income (loss)	50,781				50,781
Ending balance (shares) at Jun. 30, 2023		35,305
Ending balance at Jun. 30, 2023	470,348	$ 4	255,216	(1,379)	216,507
Beginning balance (shares) at Mar. 31, 2023		35,454
Beginning balance at Mar. 31, 2023	451,930	$ 4	258,144	(1,380)	195,162
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of restricted stock (shares)		49
Vesting of restricted stock	(373)		(373)
Equity compensation	2,205		2,205
Stock repurchase and retirement (shares)		(198)
Stock repurchase and retirement	(4,723)		(4,723)
Stock repurchase excise tax	(37)		(37)
Foreign currency translation adjustment, net of taxes	1			1
Net income (loss)	21,345				21,345
Ending balance (shares) at Jun. 30, 2023		35,305
Ending balance at Jun. 30, 2023	470,348	$ 4	255,216	(1,379)	216,507
Beginning balance (shares) at Dec. 31, 2023		34,385
Beginning balance at Dec. 31, 2023	473,393	$ 4	236,417	(1,385)	238,357
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of restricted stock (shares)		293
Vesting of restricted stock	(2,953)		(2,953)
Equity compensation	3,457		3,457
Stock repurchase and retirement (shares)		(1,290)
Stock repurchase and retirement	(21,314)	$ (1)	(21,313)
Stock repurchase excise tax	(159)		(159)
Foreign currency translation adjustment, net of taxes	(4)			(4)
Net income (loss)	(13,358)				(13,358)
Ending balance (shares) at Jun. 30, 2024		33,388
Ending balance at Jun. 30, 2024	439,062	$ 3	215,449	(1,389)	224,999
Beginning balance (shares) at Mar. 31, 2024		34,326
Beginning balance at Mar. 31, 2024	468,190	$ 4	228,525	(1,388)	241,049
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of restricted stock (shares)		42
Vesting of restricted stock	(247)		(247)
Equity compensation	2,259		2,259
Stock repurchase and retirement (shares)		(980)
Stock repurchase and retirement	(14,946)	$ (1)	(14,945)
Stock repurchase excise tax	(143)		(143)
Foreign currency translation adjustment, net of taxes	(1)			(1)
Net income (loss)	(16,050)				(16,050)
Ending balance (shares) at Jun. 30, 2024		33,388
Ending balance at Jun. 30, 2024	$ 439,062	$ 3	$ 215,449	$ (1,389)	$ 224,999

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities
Consolidated net (loss) income	$ (13,358)	$ 50,781
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	9,361	9,336
Provision for allowances	20,084	9,807
Deferred income tax benefit	(4,034)	(490)
Non-cash lease expense	474	535
Impairment charges	718	533
Loss on early extinguishment of debt	0	1,723
Equity compensation	3,457	3,980
Other non-cash costs	405	658
Changes in operating assets and liabilities:
Accounts receivable	109,935	146,443
Prepaid expenses and other assets	(1,076)	3,372
Income taxes	(1,033)	8,337
Accounts payable and accrued expenses	(33,259)	(66,548)
Operating lease liabilities	(1,576)	(2,153)
Other	(1,686)	(201)
Net cash provided by operating activities	88,412	166,113
Cash flows from investing activities
Purchases of property and equipment	(5,059)	(7,674)
Acquisition-related settlements	0	182
Net cash used in investing activities	(5,059)	(7,492)
Cash flows from financing activities
Principal payments on term loan	0	(73,875)
Borrowings under Senior Secured Asset-Based revolving credit facility	17,319	553,419
Repayments on Senior Secured Asset-Based revolving credit facility	(17,319)	(599,219)
Cash paid for shares withheld for taxes	(2,954)	(4,886)
Stock repurchase and retirement	(21,313)	(36,483)
Payment of contingent consideration	(6,579)	0
Other	0	(508)
Net cash used in financing activities	(30,846)	(161,552)
Effect of exchange rate changes on cash	0	0
Change in cash and cash equivalents	52,507	(2,931)
Cash and cash equivalents at beginning of period	17,094	3,604
Cash and cash equivalents at end of period	$ 69,601	$ 673

ORGANIZATION AND BASIS OF PRESE

ORGANIZATION AND BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BASIS OF PRESENTATION	ORGANIZATION AND BASIS OF PRESENTATION Nature of Business The accompanying condensed consolidated financial statements include the accounts of Cross Country Healthcare, Inc. and its direct and indirect wholly-owned subsidiaries (collectively, the Company). In the opinion of management, all adjustments necessary for a fair presentation of such unaudited condensed consolidated financial statements have been included. All such adjustments consisted of all normal recurring items, including the elimination of all intercompany transactions and balances. The accompanying condensed consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (U.S. GAAP) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by U.S. GAAP for complete financial statements. These operating results are not necessarily indicative of the results that may be expected for the year ending December 31, 2024. These unaudited interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2023 included in the 2023 Form 10-K. The December 31, 2023 condensed consolidated balance sheet included herein was derived from the December 31, 2023 audited consolidated balance sheet included in the 2023 Form 10-K.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts in the condensed consolidated financial statements and accompanying notes. Management has assessed various accounting estimates and other matters, including those that require consideration of forecasted financial information, using information that is reasonably available to the Company at the time. Significant estimates and assumptions are used for, but not limited to: (i) the valuation of accounts receivable; (ii) goodwill, trade names, and other intangible assets; (iii) other long-lived assets; (iv) revenue recognition; (v) accruals for health, workers’ compensation, and professional liability claims; (vi) valuation of deferred tax assets; (vii) legal contingencies; and (viii) income taxes. Accrued insurance claims and reserves include estimated settlements from known claims and actuarial estimates for claims incurred but not reported. As additional information becomes available to the Company, its future assessment of these estimates could materially and adversely impact the Company's consolidated financial statements in future reporting periods. Actual results could differ from those estimates. Risks and Uncertainties The Company’s future results of operations and liquidity could be materially adversely affected by macroeconomic factors contributing to delays in payments from customers and inflationary pressure, uncertain or reduced demand, and the impact of any initiatives or programs that the Company may undertake to address financial and operational challenges faced by its customers. See associated risk factors in Item 1A. Risk Factors in the 2023 Form 10-K. Accounts Receivable, net The timing of revenue recognition, billings, and collections results in billed and unbilled accounts receivable from customers, which are classified as accounts receivable on the condensed consolidated balance sheets and are presented net of allowances for credit losses and sales allowances. Estimated revenue for the Company employees’, subcontracted employees’, and independent contractors’ time worked but not yet billed at June 30, 2024 and December 31, 2023 totaled $59.2 million and $89.9 million, respectively. The Company generally does not require collateral and mitigates its credit risk by performing credit evaluations and monitoring at-risk accounts. The allowance for credit losses is established for losses expected to be incurred on accounts receivable balances. Accounts receivable are written off against the allowance for credit losses when the Company determines amounts are no longer collectible. Judgment is required in the estimation of the allowance and the Company evaluates the collectability of its accounts receivable based on a combination of factors. The Company bases its allowance for credit losses estimates on its historical write-off experience, current conditions, an analysis of the aging of outstanding receivable and customer payment patterns, and specific reserves for customers in adverse condition adjusted for current expectations for the customers or industry. Based on the information currently available, the Company also considered expectations of future economic condition s when estimating its allowance for credit losses. The opening balance of the allowance for credit losses is reconciled to the closing balance for expected credit losses as follows: 2024 2023 (amounts in thousands) Balance at January 1 $ 19,640 $ 13,058 Credit Loss Expense 1,290 4,908 Write-Offs, net of Recoveries (1,555) 54 Balance at March 31 19,375 18,020 Credit Loss Expense 18,858 3,134 Write-Offs, net of Recoveries (3,201) (4,240) Balance at June 30 $ 35,032 $ 16,914 In addition to the allowance for credit losses, the Company maintains a sales allowance for billing-related adjustments which may arise in the ordinary course of business and adjustments to the reserve are recorded as contra-revenue. The sales allowance balance as of June 30, 2024 and December 31, 2023 was $0.7 million and $0.9 million, respectively. The Company’s contract terms typically require payment between 30 to 60 days from the date of invoice and are considered past due based on the particular negotiated contract terms. The majority of the Company's customers are healthcare systems with a significant percentage in acute-care facilities. No single customer accounted for more than 10% of the Company’s revenue for the three and six months ended June 30, 2024 and 2023, or the Company’s accounts receivable balance as of June 30, 2024 and December 31, 2023. In 2023, there was an increase in credit loss expense primarily driven by a deterioration in the accounts receivable aging stemming from a single managed service programs (MSP) customer. On May 6, 2024, the customer filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code. As a result, the Company recorded an associated credit loss expense of $19.4 million in the second quarter of 2024. Restructuring Costs The Company considers restructuring activities to be programs whereby it fundamentally changes its operations, such as closing and consolidating facilities, reducing headcount, and realigning operations in response to changing market conditions. As a result, restructuring costs on the condensed consolidated statements of operations and comprehensive (loss) income primarily include employee termination costs and lease-related exit costs. Reconciliations of the employee termination costs and lease-related exit costs beginning and ending liability balance is presented below: Employee Termination Costs Lease-Related Exit Costs (amounts in thousands) Balance at January 1, 2024 $ 895 $ 1,184 Charged to restructuring 188 525 Payments (759) (218) Balance at March 31, 2024 324 1,491 Charged to restructuring 1,740 — Payments (1,787) (254) Balance at June 30, 2024 $ 277 $ 1,237 Recent Accounting Pronouncements On December 14, 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which requires that public business entities, on an annual basis, (1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold (if the effect of those reconciling items is equal to or greater than five percent of the amount computed by multiplying pretax income (or loss) by the applicable statutory income tax rate). The amendments also require that all entities disclose, on an annual basis, disaggregated information regarding income taxes paid and income tax expense. This guidance is effective for annual periods beginning after December 15, 2024. The amendments should be applied prospectively, but retrospective application is permitted. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The Company expects to adopt this standard for its annual report for the fiscal year ended December 31, 2025. The Company expects this ASU to only impact its disclosures with no impacts to results of operations, cash flows, and financial condition. On November 27, 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses, enhances interim disclosure requirements, clarifies circumstances in which an entity can disclose multiple segment measures of profit or loss, provides new segment disclosure requirements for entities with a single reportable segment, and requires certain disclosures related to the chief operating decision maker. This guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The amendments should be applied retrospectively to all prior periods presented in the financial statements. Early adoption is permitted. The Company expects to adopt this standard for its fiscal year ended December 31, 2024. The Company expects this ASU to only expand its disclosures with no impacts to results of operations, cash flows, and financial condition.

REVENUE RECOGNITION

REVENUE RECOGNITION	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION	REVENUE RECOGNITION The Company's revenues from customer contracts are generated from temporary staffing services and other services. Revenue is disaggregated by segment in the following table. Sales and usage-based taxes are excluded from revenue. Three Months ended June 30, 2024 Nurse Physician Total Segments (amounts in thousands) Temporary Staffing Services $ 282,501 $ 45,836 $ 328,337 Other Services 8,950 2,484 11,434 Total $ 291,451 $ 48,320 $ 339,771 Three Months ended June 30, 2023 Nurse Physician Total Segments (amounts in thousands) Temporary Staffing Services $ 483,560 $ 43,115 $ 526,675 Other Services 11,816 2,204 14,020 Total $ 495,376 $ 45,319 $ 540,695 Six Months ended June 30, 2024 Nurse Physician Total Segments (amounts in thousands) Temporary Staffing Services $ 607,475 $ 90,325 $ 697,800 Other Services 16,162 4,983 21,145 Total $ 623,637 $ 95,308 $ 718,945 Six Months ended June 30, 2023 Nurse Physician Total Segments Temporary Staffing Services $ 1,051,210 $ 81,312 $ 1,132,522 Other Services 26,468 4,412 30,880 Total $ 1,077,678 $ 85,724 $ 1,163,402

ACQUISITIONS

ACQUISITIONS	6 Months Ended
	Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
ACQUISITIONS	ACQUISITIONS HireUp On December 13, 2022, the Company purchased and acquired substantially all of the assets and assumed certain liabilities of HireUp Leadership Inc. (HireUp) for a purchase price of $6.0 million in cash, subject to adjustment, and $0.8 million in shares (or 29,811 shares) of the Company's common stock. The transaction was treated as a purchase of assets for income tax purposes. The sellers were eligible to receive up to an additional $8.0 million in earnout cash consideration based on HireUp's revenues and Adjusted EBITDA for each of the twelve-month periods ending on the first and second anniversaries of the first day after the closing date. Quarterly throughout 2023, and during the first quarter of 2024, the Company performed analyses using multiple updated forecasted scenarios and determined that the earnout would only be partially achieved. As a result, the Company recognized a decrease in the fair value of the related liabilities in the second and third quarters of 2023. The Company paid the remaining earnout liability of $1.7 million in the first quarter of 2024. See Note 10 - Fair Value Measurements. Mint On October 3, 2022, the Company purchased and acquired substantially all of the assets and assumed certain liabilities of Mint Medical Physician Staffing, LP and Lotus Medical Staffing LLC (collectively, Mint) for a purchase price of $27.0 million in cash, subject to adjustment, and $3.6 million in shares (or 114,278 shares) of the Company's common stock. The transaction was treated as a purchase of assets for income tax purposes. The sellers were eligible to receive up to an additional $10.0 million in earnout cash consideration based on Mint's revenues and gross profit for each of the twelve-month periods ending on the first and second anniversaries of the first day of the calendar month following the closing date. In the fourth quarter of 2023, the Company performed a calculation for the first measurement period, resulting in the achievement of a $4.9 million earnout, which was paid in the first quarter of 2024. During the first quarter of 2024, the Company performed analyses using multiple updated forecasted scenarios and determined that the earnout for the second measurement period would only be partially achieved and, as a result, recognized a decrease in the fair value of the related liabilities. The remaining liability of $4.1 million is included in the current portion of earnout liability on the condensed consolidated balance sheets. See Note 10 - Fair Value Measurements. Cross Country Workforce Solutions Group (CCWSG) On June 8, 2021, the Company purchased and acquired substantially all of the assets and assumed certain liabilities of Workforce Solutions Group, Inc. (WSG) for a purchase price of $25.0 million in cash and $5.0 million in shares (or 307,730 shares) of the Company's common stock. The sellers were eligible to receive an earnout based on the business' performance through three years after the acquisition date that could provide up to an additional $15.0 million in cash. In the third quarter of 2022, the Company determined that the contingent consideration earnout was achieved for the 2021 through 2022 period and, as a result, the Company made a $7.5 million earnout payment. In the third quarter of 2023, the Company determined that the contingent consideration earnout was achieved for the 2022 through 2023 period and, as a result, the Company made the final $7.5 million earnout payment.

COMPREHENSIVE (LOSS) INCOME

COMPREHENSIVE (LOSS) INCOME	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
COMPREHENSIVE (LOSS) INCOME	COMPREHENSIVE (LOSS) INCOME Total comprehensive (loss) income includes net income or loss and foreign currency translation adjustments, net of any related deferred taxes, and is included within the accompanying condensed consolidated statements of operations and comprehensive (loss) income. Certain of the Company’s foreign subsidiaries use their respective local currency as their functional currency. Assets and liabilities of these operations are translated at the exchange rates in effect on the balance sheet date. Income statement items are translated at the average exchange rates for the period. The cumulative impact of currency fluctuations related to the balance sheet translation is included in accumulated other comprehensive loss in the accompanying condensed consolidated balance sheets and was an unrealized loss of $1.5 million as of June 30, 2024 and December 31, 2023. The income tax impact related to components of other comprehensive (loss) income for the three and six months ended June 30, 2024 and 2023 is included in unrealized foreign currency translation (loss) gain, net of tax in the condensed consolidated statements of operations and comprehensive (loss) income.

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The following table sets forth the components of the numerator and denominator for the computation of the basic and diluted earnings per share: Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 (amounts in thousands, except per share data) Numerator: Net (loss) income attributable to common stockholders - Basic and Diluted $ (16,050) $ 21,345 $ (13,358) $ 50,781 Denominator: Weighted average common shares - Basic 33,960 35,351 34,088 35,606 Effect of diluted shares: Share-based awards — 173 — 435 Weighted average common shares - Diluted a 33,960 35,524 34,088 36,041 Net (loss) income per share attributable to common stockholders - Basic $ (0.47) $ 0.60 $ (0.39) $ 1.43 Net (loss) income per share attributable to common stockholders - Diluted $ (0.47) $ 0.60 $ (0.39) $ 1.41 (a) For the three and six months ended June 30, 2024, the effect of diluted shares was not included in the weighted average share calculation due to the Company's net operating loss position. The following table represents the share-based awards that could potentially dilute net (loss) income per share attributable to common stockholders in the future that were not included in the computation of diluted net (loss) income per share attributable to common stockholders because to do so would have been anti-dilutive for the periods presented. Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 (amounts in thousands) Share-based awards 507 — 256 —

GOODWILL, TRADE NAMES, AND OTHE

GOODWILL, TRADE NAMES, AND OTHER INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL, TRADE NAMES, AND OTHER INTANGIBLE ASSETS	GOODWILL, TRADE NAMES, AND OTHER INTANGIBLE ASSETS The Company had the following acquired intangible assets: June 30, 2024 December 31, 2023 Gross Accumulated Net Gross Accumulated Net (amounts in thousands) Intangible assets subject to amortization: Databases $ 39,430 $ 21,253 $ 18,177 $ 45,930 $ 24,971 $ 20,959 Customer relationships 52,538 28,561 23,977 52,538 26,286 26,252 Trade names 900 773 127 900 548 352 Software 1,700 865 835 1,700 695 1,005 Other intangible assets, net $ 94,568 $ 51,452 $ 43,116 $ 101,068 $ 52,500 $ 48,568 Intangible assets not subject to amortization: Trade names, indefinite-lived $ 5,900 $ 5,900 As of June 30, 2024, estimated annual amortization expense was as follows: (amounts in thousands) Years Ending December 31: 2024 $ 5,030 2025 9,571 2026 8,362 2027 6,191 2028 4,791 Thereafter 9,171 $ 43,116 Goodwill, Trade Names, and Other Intangible Assets Impairment The Company tests reporting units’ goodwill and intangible assets with indefinite lives for impairment annually during the fourth quarter and more frequently if impairment indicators exist. The Company performs quarterly qualitative assessments of significant events and circumstances, such as reporting units’ historical and current results, assumptions regarding future performance, strategic initiatives and overall economic factors, and macro-economic developments, to determine the existence of potential indicators of impairment and assess if it is more likely than not that the fair value of reporting units or intangible assets is less than their carrying value. If indicators of impairments are identified a quantitative impairment test is performed. As of June 30, 2024, the Company performed a qualitative assessment of each of its reporting units and determined that it was not more likely than not that the fair value of its reporting units dropped below their carrying value. A lthough management believes that the Company’s current estimates and assumptions utilized in its qualitative testing are reasonable and supportable, there can be no assurance that the estimates and assumptions management used for purposes of its assessment as of June 30, 2024 will prove to be accurate predictions of future performance. As of June 30, 2024, goodwill by reporting segment was: $112.5 million for Nurse and Allied Staffing and $22.9 million for Physician Staffing, for a total of $135.4 million. For its long-lived assets and definite-lived intangible assets, the Company reviews for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. As of June 30, 2024, the Company performed a qualitative assessment of its trade names and other intangible assets and determined it was not more likely than not that their carrying value may not be recoverable. During the three months ended June 30, 2023, the Company wrote off an abandoned IT project, resulting in an impairment charge.

DEBT

DEBT	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
DEBT	DEBT The Company's debt consists of the following: June 30, 2024 December 31, 2023 Principal Debt Issuance Costs Principal Debt Issuance Costs (amounts in thousands) Senior Secured Asset-Based Loan, interest of 7.19% and 6.99% at June 30, 2024 and December 31, 2023, respectively $ — $ (2,217) $ — $ (2,623) Debt $ — $ (2,217) $ — $ (2,623) As of June 30, 2024 and December 31, 2023, there was no debt outstanding on the condensed consolidated balance sheets. The Company has elected to present the debt issuance costs associated with its senior secured asset-based credit facility as an asset, included in other assets on the condensed consolidated balance sheets. 2021 Term Loan Credit Agreement On June 8, 2021, the Company entered into a Term Loan Credit Agreement (Term Loan Agreement) with certain lenders identified therein (collectively, the Lenders) and Wilmington Trust , National Association as administrative agent and collateral agent, pursuant to which the Lenders extended to the Company a six-year second lien subordinated term loan in the amount of $100.0 million (term loan). On November 18, 2021, the Company amended the Term Loan Agreement (Term Loan First Amendment), which provided the Company an incremental borrowing in an aggregate amount equal to $75.0 million. Additionally, the Term Loan First Amendment increased the aggregate amount of all increases (as defined in the Term Loan Agreement) to be no greater than $115.0 million. On April 14, 2023, the Company amended the Term Loan Agreement (Term Loan Second Amendment), which provided the option for all or a portion of the borrowings to bear interest at a rate based on the Secured Overnight Financing Rate (SOFR) or the Base Rate (as defined in the Term Loan Agreement), at the election of the borrowers, plus an applicable margin. On June 30, 2023, the Company repaid all outstanding obligations of $73.9 million under the term loan and terminated the Term Loan Agreement. As a result, debt issuance costs of $1.7 million were written off in the second quarter of 2023. There were no prepayment premiums associated with the payoff and all subsidiary guarantees of the term loan were automatically released. 2019 Asset-Based Loan Agreement Effective October 25, 2019, the Company terminated its prior senior credit facility and entered into an asset-based loan agreement, by and among the Company and certain of its domestic subsidiaries, as borrowers or guarantors, Wells Fargo Bank, N.A., and PNC Bank N.A., as well as other Lenders (as defined therein) from time to time parties thereto (Loan Agreement). The Loan Agreement provided for a five-year revolving senior secured asset-based credit facility (ABL) in the aggregate principal amount of up to $120.0 million, including a sublimit for swing loans up to $15.0 million and a $35.0 million sublimit for standby letters of credit. On June 30, 2020, the Company amended the Loan Agreement (First Amendment), which increased the current aggregate committed size of the ABL from $120.0 million to $130.0 million. All other terms, conditions, covenants, and pricing of the Loan Agreement remained the same. On March 8, 2021, the Company amended the Loan Agreement (Second Amendment), which increased the current aggregate committed size of the ABL from $130.0 million to $150.0 million, increased certain borrowing base sub-limits, and decreased both the cash dominion event and financial reporting triggers. On June 8, 2021, the Company amended the Loan Agreement (Third Amendment), which permitted the incurrence of indebtedness and grant of security as set forth in the Loan Agreement and in accordance with the Intercreditor Agreement (as defined in the Loan Agreement), and provides mechanics relating to a transition away from LIBOR as a benchmark interest rate to a replacement alternative benchmark rate or mechanism for loans made in U.S. dollars. On November 18, 2021, the Company amended the Loan Agreement (Fourth Amendment), whereby the permitted indebtedness (as defined in the Loan Agreement), was increased to $175.0 million. On March 21, 2022, the Company amended the Loan Agreement (Fifth Amendment), which increased the current aggregate committed size of the ABL from $150.0 million to $300.0 million, extended the term of the credit facility for an additional five years, through March 21, 2027, and increased certain borrowing base sub-limits. In addition, the agreement provides the option for all or a portion of the borrowings to bear interest at a rate based on the SOFR or the Base Rate (as defined in the Loan Agreement), at the election of the borrowers, plus an applicable margin. The applicable margin increased 10 basis points due to the credit spread associated with the transition to SOFR. On September 29, 2023, the Company amended the Loan Agreement (Sixth Amendment), which changed the minimum fixed charge coverage ratio from a maintenance covenant to a springing covenant based on excess availability, which provides for compliance with the covenant only during a compliance period (any time that excess availability falls below a certain threshold), and in such case, the financial covenant shall be tested during this period. These amendments were treated as modifications of debt and, as a result, the associated fees and costs were included in debt issuance costs and are amortized ratably over the remaining term of the Loan Agreement. The ABL availability is subject to a borrowing base of up to 85% of secured eligible accounts receivable, subject to adjustment at certain quality levels, minus customary reserves and subject to customary adjustments. Revolving loans and letters of credit issued under the Loan Agreement reduce availability under the ABL on a dollar-for-dollar basis. At June 30, 2024, there were no borrowings drawn under the ABL, and borrowing base availability under the ABL was $166.7 million, with $152.9 million of availability net of $13.8 million of letters of credit outstanding related to workers' compensation and professional liability policies. As of June 30, 2024, the interest rate spreads and fees under the ABL were based on SOFR plus 1.85% for the revolving portion of the borrowing base. The Base Rate margin would have been 0.75% for the revolving portion . The SOFR and Base Rate margins are subject to monthly adjustments, pursuant to a pricing matrix based on the Company’s excess availability under the revolving credit facility. In addition, the facility is subject to an unused line fee, letter of credit fees, and an administrative fee. The unused line fee is 0.375% of the average daily unused portion of the revolving credit facility. The Loan Agreement contains various restrictions applicable to the Company and its subsidiaries. For the three months ended June 30, 2024, the excess availability did not fall below the stated threshold and, as a result, there was no covenant compliance period. Obligations under the ABL are secured by substantially all of the assets of the borrowers and guarantors, subject to customary exceptions.

LEASES

LEASES	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
LEASES	LEASES The Company's lease population of its right-of-use assets and lease liabilities is substantially related to the rental of office space. The Company enters into lease agreements as a lessee that may include options to extend or terminate early. Some of these real estate leases require variable payments of property taxes, insurance, and common area maintenance, in addition to base rent. Certain of the leases have provisions for free rent months during the lease term and/or escalating rent payments and, particularly for the Company’s longer-term leases for its corporate offices, it has received incentives to enter into the leases, such as receiving up to a specified dollar amount to construct tenant improvements. These leases do not include residual value guarantees, covenants, or other restrictions. As a part of the Company's restructuring activities, management periodically reduces or fully vacates leased office space, which results in right-of-use impairment charges. The Company may also write off leasehold improvements or other property and equipment related to these locations. The measurement of these impairments is a Level 3 fair value measurement. For the three and six months ended June 30, 2024 and 2023, the Company did not record any material lease-related impairment charges. See Note 2 - Summary of Significant Accounting Policies for a description of the Company's restructuring activities. The table below presents the lease-related assets and liabilities included on the condensed consolidated balance sheets: Classification on Condensed Consolidated Balance Sheets: June 30, 2024 December 31, 2023 (amounts in thousands) Operating lease right-of-use assets $ 2,635 $ 2,599 Operating lease liabilities - current $ 2,085 $ 2,604 Operating lease liabilities - non-current $ 2,652 $ 2,663 June 30, 2024 December 31, 2023 Weighted average remaining lease term 3.06 years 2.2 years Weighted average discount rate 6.78 % 6.36 % The table below reconciles the undiscounted cash flows for each of, and total of, the remaining years to the operating lease liabilities (which do not include short-term leases) recorded on the condensed consolidated balance sheets as of June 30, 2024: (amounts in thousands) Years Ending December 31: 2024 $ 1,133 2025 2,372 2026 652 2027 533 2028 450 Thereafter 113 Total minimum lease payments 5,253 Less: amount of lease payments representing interest (516) Present value of future minimum lease payments 4,737 Less: operating lease liabilities - current (2,085) Operating lease liabilities - non-current $ 2,652 Other Information The table below provides information regarding supplemental cash flows: Six Months Ended June 30, 2024 2023 (amounts in thousands) Supplemental Cash Flow Information: Cash paid for amounts included in the measurement of operating lease liabilities $ 1,734 $ 2,434 Right-of-use assets acquired under operating lease $ 1,047 $ 88 The components of lease expense are as follows: Three Months Ended June 30, 2024 2023 (amounts in thousands) Amounts Included in Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income: Operating lease expense $ 363 $ 412 Short-term lease expense $ 358 $ 738 Variable and other lease costs $ (45) $ 275 Six Months Ended June 30, 2024 2023 (amounts in thousands) Amounts Included in Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income: Operating lease expense $ 686 $ 904 Short-term lease expense $ 777 $ 1,818 Variable and other lease costs $ 580 $ 273 Operating lease expense, short-term lease expense, and variable and other lease costs are included in selling, general and administrative expenses, direct operating expenses, and restructuring costs in the condensed consolidated statements of operations and comprehensive (loss) income, depending on the nature of the leased asset. Operating lease expense is reported net of sublease income, which is not material. As of June 30, 2024, the Company did not have any material operating leases that had not yet commenced, and does not have any finance lease contracts.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. A fair value hierarchy was established which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. There are three levels of inputs that may be used to measure fair value: Level 1 —Quoted prices in active markets for identical assets or liabilities. Level 2 —Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 —Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Items Measured at Fair Value on a Recurring Basis: The Company’s financial assets/liabilities required to be measured on a recurring basis were primarily its: (i) deferred compensation asset included in other assets; and (ii) deferred compensation liability included in other liabilities on its condensed consolidated balance sheets. Deferred compensation —The Company utilizes Level 1 inputs to value its deferred compensation assets and liabilities. The Company’s deferred compensation assets and liabilities are measured using publicly available indices, as per the plan documents. The estimated fair value of the Company’s financial assets and liabilities measured on a recurring basis is as follows: Fair Value Measurements June 30, 2024 December 31, 2023 (amounts in thousands) Financial Assets: (Level 1) Deferred compensation asset $ 3,561 $ 3,298 Financial Liabilities: (Level 1) Deferred compensation liability $ 2,899 $ 3,343 Items Measured at Fair Value on a Non-Recurring Basis: The Company’s non-financial assets, such as goodwill, trade names, other intangible assets, right-of-use assets, and property and equipment, are measured at fair value when there is an indicator of impairment and are recorded at fair value only when an impairment charge is recognized. The Company did not record any material impairment charges during the three and six months ended June 30, 2024 and 2023. Other Fair Value Disclosures: Financial instruments not measured or recorded at fair value in the condensed consolidated balance sheets consist of cash and cash equivalents, accounts receivable, and accounts payable and accrued expenses. The estimated fair value of accounts receivable and accounts payable and accrued expenses approximate their carrying amount due to the short-term nature of these instruments. Other financial instruments measured or recorded at fair value include earnout liabilities related to the (i) Mint and (ii) HireUp acquisitions, as discussed below. (i) Potential earnout payments related to the Mint acquisition are contingent upon meeting certain performance requirements based on 2022 through 2024 performance. On a quarterly basis, the Company performs an analysis using multiple forecasted scenarios to determine the fair value of the earnout liability. In the fourth quarter of 2023, the Company performed the earnout calculation for the first measurement period, resulting in an earnout of $4.9 million, which was paid in the first quarter of 2024. During the first quarter of 2024, the Company determined that the earnout for the second measurement period would only be partially achieved and, as a result, recognized a decrease in the fair value of the related liabilities. The remaining liability of $4.1 million is included in the current portion of earnout liability on the condensed consolidated balance sheets. The carrying amount of the earnout liability approximates fair value. See Note 4 - Acquisitions. (ii) Potential earnout payments related to the HireUp acquisition were contingent upon meeting certain performance requirements based on 2022 through 2024 performance. Quarterly throughout 2023 and in the first quarter of 2024, the Company performed analyses using multiple updated forecasted scenarios and determined that the earnout would only be partially achieved. As a result, the Company recognized a decrease in the fair value of the related liabilities in the second and third quarters of 2023 and the first quarter of 2024. The remaining liability of $1.7 million was paid in the first quarter of 2024. See Note 4 - Acquisitions. Concentration of Credit Risk: See discussion of credit losses and allowance for credit losses in Note 2 - Summary of Significant Accounting Policies. Overall, based on the large number of customers in differing geographic areas, primarily throughout the United States and its territories, the Company believes that the concentration of credit risk is limited.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS’ EQUITY Stock Repurchase Program On May 1, 2023, the Company’s Board of Directors authorized approximately $59.0 million in additional share repurchases to be added to the prior authorized repurchase program, such that, effective for trades made after May 3, 2023, the aggregate amount available for stock repurchases was set at $100.0 million (the Repurchase Program). The shares can be repurchased from time-to-time in the open market or in privately negotiated transactions. The Repurchase Program does not obligate the Company to repurchase any particular number of shares of common stock and may be discontinued by the Board of Directors at any time. Decisions regarding the amount and the timing of repurchases under the Repurchase Program will be subject to the Company’s available liquidity and cash on hand, applicable legal requirements, the terms of the Company’s Loan Agreement, general market conditions, and other factors. During the fourth quarter of 2022, the Company entered into a Rule 10b5-1 Repurchase Plan to allow for share repurchases during the Company's blackout periods, effective through November 2, 2023. During the third quarter of 2023, the Company entered into a new Rule 10b5-1 Repurchase Plan to allow for share repurchases during the Company's blackout periods, beginning on January 2, 2024 and effective through November 7, 2024. During the three months ended June 30, 2024, the Company repurchased a total of 979,921 shares of common stock for $14.9 million, at an average price of $15.23 per share. During the six months ended June 30, 2024, the Company repurchased a total of 1,290,156 shares of common stock for an aggregate of $21.3 million, at an average price of $16.50 per share. During the three months ended June 30, 2023, the Company repurchased a total of 198,463 shares of common stock for $4.7 million, at an average price of $23.78 per share. During the six months ended June 30, 2023, the Company repurchased a total of 1,421,867 shares of common stock for $36.5 million, at an average price of $25.64 per share. As of June 30, 2024, the Company had $56.0 million remaining for share repurchase under the Repurchase Program, subject to certain conditions in the Company's Loan Agreement. As of June 30, 2024, the Company had 33,388,000 unrestricted shares of common stock outstanding. Share-Based Payments On May 14, 2024, the Company's stockholders approved the Cross Country Healthcare, Inc. 2024 Omnibus Incentive Plan (2024 Plan). Pursuant to the 2024 Plan, awards may be granted to employees, non-employee directors, consultants, and key advisors of the Company and its subsidiaries, including stock options (including incentive stock options and nonqualified stock options), stock appreciation rights, stock awards, stock units, other stock-based awards, and cash awards. The 2024 Plan was adopted principally to serve as a successor plan to the Cross Country Healthcare, Inc. 2020 Omnibus Incentive Plan (2020 Plan) and to increase the number of shares of Company common stock reserved for equity-based awards to 2,400,000 shares (in addition to the share reserve amount that remained available under the 2020 Plan immediately prior to the adoption of the 2024 Plan and other eligible returning shares). No awards may be granted under the 2024 Plan after May 13, 2034. The following table summarizes restricted stock awards and performance stock awards activity issued under the 2020 Plan and the 2024 Plan (Plans) for the six months ended June 30, 2024: Restricted Stock Awards Performance Stock Awards Number of Weighted Number of Target Weighted Unvested restricted stock awards, January 1, 2024 547,534 $ 20.42 417,197 $ 18.75 Granted 375,377 $ 18.05 170,880 $ 18.67 Vested (308,241) $ 19.02 (145,908) $ 12.71 Forfeited (50,256) $ 20.81 (23,875) $ 21.39 Unvested restricted stock awards, June 30, 2024 564,414 $ 19.58 418,294 $ 20.68 Restricted stock awards granted under the Company’s Plans entitle the holder to receive, at the end of a vesting period, a specified number of shares of the Company’s common stock. Share-based compensation expense is measured by the market value of the Company’s stock on the date of grant. Awards granted to non-employee directors under the Plans will vest on the first anniversary of such grant date, or earlier subject to retirement eligibility . In addition, effective for the three months ended June 30, 2020, the Company implemented modified guidelines that provide for accelerated vesting of restricted stock grants on the last date of service when a retirement-eligible director retires. Pursuant to the Plans, the number of target shares that are issued for performance-based stock awards are determined based on the level of attainment of the targets. During the first quarter of 2024, the Company's Compensation Committee of the Board of Directors approved a 101% level of attainment for the 2021 performance-based share awards, resulting in the issuance of 145,908 performance shares that vested on March 31, 2024. During the three and six months ended June 30, 2024, $2.3 million and $3.5 million, respectively, was included in selling, general and administrative expenses related to share-based payments, and a net of 42,227 and 293,251 shares, respectively, of common stock were issued upon the vesting of restricted and performance stock. During the three and six months ended June 30, 2023, $2.2 million and $4.0 million, respectively, was included in selling, general and administrative expenses related to share-based payments, and a net of 49,582 and 424,274 shares, respectively, of common stock were issued upon the vesting of restricted and performance stock.

SEGMENT DATA

SEGMENT DATA	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
SEGMENT DATA	SEGMENT DATA The Company’s segments offer services to its customers as described below: ● Nurse and Allied Staffing – Nurse and Allied Staffing provides traditional staffing, recruiting, and value-added total talent solutions including: temporary and permanent placement of travel nurse and allied professionals, per diem, and healthcare leaders within nursing, allied, physician, human resources, and finance, MSP services, education healthcare services, in-home care services, and outsourcing services. In addition, Nurse and Allied Staffing provides executive search services for healthcare professionals, as well as contingent search and recruitment process outsourcing services, and offers the Company's SaaS-based, proprietary, vendor management technology, Intellify ® to facilities to manage all or a portion of their agency services. Its customers include: public and private acute care hospitals, non-acute care hospitals, government facilities, local healthcare plans, national healthcare plans, managed care providers, public schools, charter schools, academic medical centers, Programs of All-Inclusive Care for the Elderly (PACE) programs, outpatient clinics, ambulatory care facilities, physician practice groups, and many other healthcare providers throughout the United States. ● Physician Staffing – Physician Staffing provides physicians in many specialties, as well as certified registered nurse anesthetists, nurse practitioners, and physician assistants as independent contractors on temporary assignments throughout the United States at various healthcare facilities, such as acute and non-acute care facilities, medical group practices, government facilities, and managed care organizations. The Company evaluates performance of each segment primarily based on revenue and contribution income. The Company defines contribution income as income (loss) from operations before depreciation and amortization, acquisition and integration-related (benefits) costs, restructuring (benefits) costs, legal and other losses, impairment charges, and corporate overhead. The Company does not evaluate, manage, or measure performance of segments using asset information; accordingly, total asset information by segment is not prepared or disclosed. The information in the following table is derived from the segments’ internal financial information as used for corporate management purposes. Certain corporate expenses are not allocated to or among the operating segments. Information on operating segments and a reconciliation to (loss) income from operations for the periods indicated are as follows: Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 (amounts in thousands) Revenue from services: Nurse and Allied Staffing $ 291,451 $ 495,376 $ 623,637 $ 1,077,678 Physician Staffing 48,320 45,319 95,308 85,724 $ 339,771 $ 540,695 $ 718,945 $ 1,163,402 Contribution income: Nurse and Allied Staffing $ 5,820 $ 56,481 $ 33,003 $ 123,650 Physician Staffing 4,033 3,541 7,171 5,265 9,853 60,022 40,174 128,915 Corporate overhead (a) 18,161 18,891 35,727 37,547 Depreciation and amortization 4,719 4,432 9,361 9,336 Restructuring costs 2,116 913 3,054 1,342 Legal and other losses 3,946 — 7,596 1,125 Impairment charges 114 533 718 533 Other costs (b) 3 64 3 46 (Loss) income from operations $ (19,206) $ 35,189 $ (16,285) $ 78,986 _______________ (a) Corporate overhead includes unallocated executive leadership and other centralized corporate functional support costs such as finance, IT, legal, human resources, and marketing, as well as public company expenses and corporate-wide projects (initiatives). (b) Other costs include acquisition and integration-related costs.

CONTINGENCIES

CONTINGENCIES	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	CONTINGENCIES Legal Proceedings From time to time, the Company is involved in various litigation, claims, investigations, and other proceedings that arise in the ordinary course of its business. These proceedings primarily relate to employee-related matters that include individual and collective claims, professional liability, tax, and payroll practices. The Company establishes reserves when available information indicates that a loss is probable and an amount or range of loss can be reasonably estimated. These assessments are performed at least quarterly and are based on the information available to management at the time and involve significant management judgment to determine the probability and estimated amount of potential losses, if any. Based on the available information considered in its reviews, the Company adjusts its loss contingency accruals and its disclosures as may be required. Actual outcomes or losses may differ materially from those estimated by the Company's current assessments, including available insurance recoveries, which would impact the Company's profitability. Adverse developments in existing litigation claims or legal proceedings involving the Company or new claims could require management to establish or increase litigation reserves or enter into unfavorable settlements or satisfy judgments for monetary damages for amounts in excess of current reserves, which could adversely affect the Company's financial results. During the second quarter of 2024, the Company recorded legal settlement charges related to the resolution of a class action settlement agreement, as well as costs related to an unrecoverable asset. The Company believes that the outcome of any outstanding loss contingencies as of June 30, 2024 will not have a material adverse effect on its business, financial condition, results of operations, or cash flows. Sales and Other State Non-Income Tax Liabilities

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company has historically calculated the provision for income taxes during interim reporting periods by applying an estimate of the Annual Effective Tax Rate (AETR) for the full fiscal year to ordinary income for the reporting period. For the three and six months ended June 30, 2024, the Company used actual results to calculate the provision for income taxes. It determined that since small changes in estimated ordinary income would result in significant changes in the estimated AETR, the historical method would not provide a reliable estimate for the three and six month periods ended June 30, 2024. The Company’s effective tax rate was 18.0% and 15.8% for the three and six months ended June 30, 2024, respectively, and 29.6% and 27.9% for the three and six months ended June 30, 2023, respectively. In addition to using actual results, a book loss primarily driven by credit loss expense as discussed in Note 2 - Summary of Significant Accounting Policies, relative to nondeductible items, caused the quarterly and year-to-date effective tax rates to be significantly different from the historical annual effective tax rate. As of June 30, 2024, the Company had approximately $11.6 million of unrecognized tax benefits included in other non-current liabilities, $11.0 million, net of deferred taxes, which would impact the effective tax rate if recognized. During the six months ended June 30, 2024, the Company had net increases of $1.0 million to its current year unrecognized tax benefits related to federal and state tax provisions. Effective January 1, 2024, many jurisdictions implemented the Pillar Two rules issued by the Organization for Economic Co-operation and Development. In general, large multinational entity groups with consolidated revenue in excess of 750 million Euros in at least two of the preceding four years could be subject to the new rules in jurisdictions with an effective tax rate below fifteen percent. The Company currently does not operate in any jurisdictions that have implemented the Pillar Two rules, but jurisdictions may adopt retroactively to January 1, 2024. The Company does not expect the adoption of the Pillar Two rules by any jurisdiction in which it currently operates to have a material impact on its financial statements. The tax years 2012 through 2023 remain open to examination by certain taxing jurisdictions to which the Company is subject to tax.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS The Company has entered into an arrangement for digital marketing services provided by a firm that is related to Mr. Kevin C. Clark, the Company's non-executive Chairman of the Board of Directors since April 1, 2022, and the Company's Co-Founder & Chief Executive Officer through March 31, 2022. Mr. Clark is a minority shareholder in the firm's parent company and is a member of the parent company's Board of Directors. Management believes that the terms of the arrangement are equivalent to those prevailing in an arm's-length transaction and have been approved by the Audit Committee of the Company's Board of Directors through the Company's related party transaction approval process. The digital marketing firm manages a limited number of digital publishers covering various Company brands for a monthly management fee. During the three and six months ended June 30, 2024 and 2023, the Company incurred an immaterial amount in expenses and had an immaterial payable balance at June 30, 2024 and December 31, 2023. The Company provides services to entities which are affiliated with certain members of the Company’s Board of Directors. Management believes that the services were conducted on terms equivalent to those prevailing in an arm's-length transaction. Revenue related to these transactions was immaterial for the three and six months ended June 30, 2024 and 2023. Accounts receivable due from these entities was an immaterial amount at June 30, 2024 and December 31, 2023.

SUBSEQUENT EVENT

SUBSEQUENT EVENT	6 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENT	SUBSEQUENT EVENT On July 29, 2024, the Company amended its Loan Agreement. The amendment allows for all share repurchases paid in cash prior to June 30, 2024 and thereafter to be excluded as restricted payments in the fixed charge coverage ratio calculation, if as of the date of the share repurchase, there is no revolving ABL balance (except for interest and fees payable in accordance with the terms of the Loan Agreement).

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (16,050)	$ 21,345	$ (13,358)	$ 50,781

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Nature of Business	Nature of Business The accompanying condensed consolidated financial statements include the accounts of Cross Country Healthcare, Inc. and its direct and indirect wholly-owned subsidiaries (collectively, the Company). In the opinion of management, all adjustments necessary for a fair presentation of such unaudited condensed consolidated financial statements have been included. All such adjustments consisted of all normal recurring items, including the elimination of all intercompany transactions and balances.
Basis of Accounting	The accompanying condensed consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (U.S. GAAP) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by U.S. GAAP for complete financial statements. These operating results are not necessarily indicative of the results that may be expected for the year ending December 31, 2024. These unaudited interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2023 included in the 2023 Form 10-K. The December 31, 2023 condensed consolidated balance sheet included herein was derived from the December 31, 2023 audited consolidated balance sheet included in the 2023 Form 10-K.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts in the condensed consolidated financial statements and accompanying notes. Management has assessed various accounting estimates and other matters, including those that require consideration of forecasted financial information, using information that is reasonably available to the Company at the time. Significant estimates and assumptions are used for, but not limited to: (i) the valuation of accounts receivable; (ii) goodwill, trade names, and other intangible assets; (iii) other long-lived assets; (iv) revenue recognition; (v) accruals for health, workers’ compensation, and professional liability claims; (vi) valuation of deferred tax assets; (vii) legal contingencies; and (viii) income taxes. Accrued insurance claims and reserves include estimated settlements from known claims and actuarial estimates for claims incurred but not reported. As additional information becomes available to the Company, its future assessment of these estimates
Risks and Uncertainties	Risks and Uncertainties The Company’s future results of operations and liquidity could be materially adversely affected by macroeconomic factors contributing to delays in payments from customers and inflationary pressure, uncertain or reduced demand, and the impact of any initiatives or programs that the Company may undertake to address financial and operational challenges faced by its customers. See associated risk factors in Item 1A. Risk Factors in the 2023 Form 10-K.
Accounts Receivable, net	Accounts Receivable, net The timing of revenue recognition, billings, and collections results in billed and unbilled accounts receivable from customers, which are classified as accounts receivable on the condensed consolidated balance sheets and are presented net of allowances for credit losses and sales allowances. Estimated revenue for the Company employees’, subcontracted employees’, and independent contractors’ time worked but not yet billed at June 30, 2024 and December 31, 2023 totaled $59.2 million and $89.9 million, respectively. The Company generally does not require collateral and mitigates its credit risk by performing credit evaluations and monitoring at-risk accounts. The allowance for credit losses is established for losses expected to be incurred on accounts receivable balances. Accounts receivable are written off against the allowance for credit losses when the Company determines amounts are no longer collectible. Judgment is required in the estimation of the allowance and the Company evaluates the collectability of its accounts receivable based on a combination of factors. The Company bases its allowance for credit losses estimates on its historical write-off experience, current conditions, an analysis of the aging of outstanding receivable and customer payment patterns, and specific reserves for customers in adverse condition adjusted for current expectations for the customers or industry. Based on the information currently available, the Company also considered expectations of future economic condition s when estimating its allowance for credit losses. In addition to the allowance for credit losses, the Company maintains a sales allowance for billing-related adjustments which may arise in the ordinary course of business and adjustments to the reserve are recorded as contra-revenue. The sales allowance balance as of June 30, 2024 and December 31, 2023 was $0.7 million and $0.9 million, respectively.
Restructuring Costs	Restructuring Costs The Company considers restructuring activities to be programs whereby it fundamentally changes its operations, such as closing and consolidating facilities, reducing headcount, and realigning operations in response to changing market conditions. As a result, restructuring costs on the condensed consolidated statements of operations and comprehensive (loss) income primarily include employee termination costs and lease-related exit costs.
Recent Accounting Pronouncements	Recent Accounting Pronouncements On December 14, 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which requires that public business entities, on an annual basis, (1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold (if the effect of those reconciling items is equal to or greater than five percent of the amount computed by multiplying pretax income (or loss) by the applicable statutory income tax rate). The amendments also require that all entities disclose, on an annual basis, disaggregated information regarding income taxes paid and income tax expense. This guidance is effective for annual periods beginning after December 15, 2024. The amendments should be applied prospectively, but retrospective application is permitted. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The Company expects to adopt this standard for its annual report for the fiscal year ended December 31, 2025. The Company expects this ASU to only impact its disclosures with no impacts to results of operations, cash flows, and financial condition. On November 27, 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses, enhances interim disclosure requirements, clarifies circumstances in which an entity can disclose multiple segment measures of profit or loss, provides new segment disclosure requirements for entities with a single reportable segment, and requires certain disclosures related to the chief operating decision maker. This guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The amendments should be applied retrospectively to all prior periods presented in the financial statements. Early adoption is permitted. The Company expects to adopt this standard for its fiscal year ended December 31, 2024. The Company expects this ASU to only expand its disclosures with no impacts to results of operations, cash flows, and financial condition.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Schedule of Allowance for Doubtful Accounts	The opening balance of the allowance for credit losses is reconciled to the closing balance for expected credit losses as follows: 2024 2023 (amounts in thousands) Balance at January 1 $ 19,640 $ 13,058 Credit Loss Expense 1,290 4,908 Write-Offs, net of Recoveries (1,555) 54 Balance at March 31 19,375 18,020 Credit Loss Expense 18,858 3,134 Write-Offs, net of Recoveries (3,201) (4,240) Balance at June 30 $ 35,032 $ 16,914
Schedule of Employee Termination Costs and Lease-Related Exit Costs	Reconciliations of the employee termination costs and lease-related exit costs beginning and ending liability balance is presented below: Employee Termination Costs Lease-Related Exit Costs (amounts in thousands) Balance at January 1, 2024 $ 895 $ 1,184 Charged to restructuring 188 525 Payments (759) (218) Balance at March 31, 2024 324 1,491 Charged to restructuring 1,740 — Payments (1,787) (254) Balance at June 30, 2024 $ 277 $ 1,237

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The Company's revenues from customer contracts are generated from temporary staffing services and other services. Revenue is disaggregated by segment in the following table. Sales and usage-based taxes are excluded from revenue. Three Months ended June 30, 2024 Nurse Physician Total Segments (amounts in thousands) Temporary Staffing Services $ 282,501 $ 45,836 $ 328,337 Other Services 8,950 2,484 11,434 Total $ 291,451 $ 48,320 $ 339,771 Three Months ended June 30, 2023 Nurse Physician Total Segments (amounts in thousands) Temporary Staffing Services $ 483,560 $ 43,115 $ 526,675 Other Services 11,816 2,204 14,020 Total $ 495,376 $ 45,319 $ 540,695 Six Months ended June 30, 2024 Nurse Physician Total Segments (amounts in thousands) Temporary Staffing Services $ 607,475 $ 90,325 $ 697,800 Other Services 16,162 4,983 21,145 Total $ 623,637 $ 95,308 $ 718,945 Six Months ended June 30, 2023 Nurse Physician Total Segments Temporary Staffing Services $ 1,051,210 $ 81,312 $ 1,132,522 Other Services 26,468 4,412 30,880 Total $ 1,077,678 $ 85,724 $ 1,163,402

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Components of Numerator and Denominator for Computation of Basic and Diluted Earnings per Share	The following table sets forth the components of the numerator and denominator for the computation of the basic and diluted earnings per share: Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 (amounts in thousands, except per share data) Numerator: Net (loss) income attributable to common stockholders - Basic and Diluted $ (16,050) $ 21,345 $ (13,358) $ 50,781 Denominator: Weighted average common shares - Basic 33,960 35,351 34,088 35,606 Effect of diluted shares: Share-based awards — 173 — 435 Weighted average common shares - Diluted a 33,960 35,524 34,088 36,041 Net (loss) income per share attributable to common stockholders - Basic $ (0.47) $ 0.60 $ (0.39) $ 1.43 Net (loss) income per share attributable to common stockholders - Diluted $ (0.47) $ 0.60 $ (0.39) $ 1.41 (a) For the three and six months ended June 30, 2024, the effect of diluted shares was not included in the weighted average share calculation due to the Company's net operating loss position.
Schedule of Antidilutive Securities	The following table represents the share-based awards that could potentially dilute net (loss) income per share attributable to common stockholders in the future that were not included in the computation of diluted net (loss) income per share attributable to common stockholders because to do so would have been anti-dilutive for the periods presented. Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 (amounts in thousands) Share-based awards 507 — 256 —

GOODWILL, TRADE NAMES, AND OT_2

GOODWILL, TRADE NAMES, AND OTHER INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Acquired Intangible Assets	The Company had the following acquired intangible assets: June 30, 2024 December 31, 2023 Gross Accumulated Net Gross Accumulated Net (amounts in thousands) Intangible assets subject to amortization: Databases $ 39,430 $ 21,253 $ 18,177 $ 45,930 $ 24,971 $ 20,959 Customer relationships 52,538 28,561 23,977 52,538 26,286 26,252 Trade names 900 773 127 900 548 352 Software 1,700 865 835 1,700 695 1,005 Other intangible assets, net $ 94,568 $ 51,452 $ 43,116 $ 101,068 $ 52,500 $ 48,568 Intangible assets not subject to amortization: Trade names, indefinite-lived $ 5,900 $ 5,900
Schedule of Estimated Annual Amortization Expense	As of June 30, 2024, estimated annual amortization expense was as follows: (amounts in thousands) Years Ending December 31: 2024 $ 5,030 2025 9,571 2026 8,362 2027 6,191 2028 4,791 Thereafter 9,171 $ 43,116

DEBT (Tables)

DEBT (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt	The Company's debt consists of the following: June 30, 2024 December 31, 2023 Principal Debt Issuance Costs Principal Debt Issuance Costs (amounts in thousands) Senior Secured Asset-Based Loan, interest of 7.19% and 6.99% at June 30, 2024 and December 31, 2023, respectively $ — $ (2,217) $ — $ (2,623) Debt $ — $ (2,217) $ — $ (2,623)

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Schedule of Supplemental Balance Sheet Information	The table below presents the lease-related assets and liabilities included on the condensed consolidated balance sheets: Classification on Condensed Consolidated Balance Sheets: June 30, 2024 December 31, 2023 (amounts in thousands) Operating lease right-of-use assets $ 2,635 $ 2,599 Operating lease liabilities - current $ 2,085 $ 2,604 Operating lease liabilities - non-current $ 2,652 $ 2,663 June 30, 2024 December 31, 2023 Weighted average remaining lease term 3.06 years 2.2 years Weighted average discount rate 6.78 % 6.36 %
Schedule of Operating Lease Maturity	The table below reconciles the undiscounted cash flows for each of, and total of, the remaining years to the operating lease liabilities (which do not include short-term leases) recorded on the condensed consolidated balance sheets as of June 30, 2024: (amounts in thousands) Years Ending December 31: 2024 $ 1,133 2025 2,372 2026 652 2027 533 2028 450 Thereafter 113 Total minimum lease payments 5,253 Less: amount of lease payments representing interest (516) Present value of future minimum lease payments 4,737 Less: operating lease liabilities - current (2,085) Operating lease liabilities - non-current $ 2,652
Schedule of Lease Costs	The table below provides information regarding supplemental cash flows: Six Months Ended June 30, 2024 2023 (amounts in thousands) Supplemental Cash Flow Information: Cash paid for amounts included in the measurement of operating lease liabilities $ 1,734 $ 2,434 Right-of-use assets acquired under operating lease $ 1,047 $ 88 The components of lease expense are as follows: Three Months Ended June 30, 2024 2023 (amounts in thousands) Amounts Included in Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income: Operating lease expense $ 363 $ 412 Short-term lease expense $ 358 $ 738 Variable and other lease costs $ (45) $ 275 Six Months Ended June 30, 2024 2023 (amounts in thousands) Amounts Included in Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income: Operating lease expense $ 686 $ 904 Short-term lease expense $ 777 $ 1,818 Variable and other lease costs $ 580 $ 273

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Estimated Fair Values of Financial Assets and Liabilities Measured on a Recurring Basis	The estimated fair value of the Company’s financial assets and liabilities measured on a recurring basis is as follows: Fair Value Measurements June 30, 2024 December 31, 2023 (amounts in thousands) Financial Assets: (Level 1) Deferred compensation asset $ 3,561 $ 3,298 Financial Liabilities: (Level 1) Deferred compensation liability $ 2,899 $ 3,343

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Schedule of Restricted Stock Activity	The following table summarizes restricted stock awards and performance stock awards activity issued under the 2020 Plan and the 2024 Plan (Plans) for the six months ended June 30, 2024: Restricted Stock Awards Performance Stock Awards Number of Weighted Number of Target Weighted Unvested restricted stock awards, January 1, 2024 547,534 $ 20.42 417,197 $ 18.75 Granted 375,377 $ 18.05 170,880 $ 18.67 Vested (308,241) $ 19.02 (145,908) $ 12.71 Forfeited (50,256) $ 20.81 (23,875) $ 21.39 Unvested restricted stock awards, June 30, 2024 564,414 $ 19.58 418,294 $ 20.68

SEGMENT DATA (Tables)

SEGMENT DATA (Tables)	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Schedule of Information on Operating Segments and Reconciliation to (Loss) Income from Operations	Information on operating segments and a reconciliation to (loss) income from operations for the periods indicated are as follows: Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 (amounts in thousands) Revenue from services: Nurse and Allied Staffing $ 291,451 $ 495,376 $ 623,637 $ 1,077,678 Physician Staffing 48,320 45,319 95,308 85,724 $ 339,771 $ 540,695 $ 718,945 $ 1,163,402 Contribution income: Nurse and Allied Staffing $ 5,820 $ 56,481 $ 33,003 $ 123,650 Physician Staffing 4,033 3,541 7,171 5,265 9,853 60,022 40,174 128,915 Corporate overhead (a) 18,161 18,891 35,727 37,547 Depreciation and amortization 4,719 4,432 9,361 9,336 Restructuring costs 2,116 913 3,054 1,342 Legal and other losses 3,946 — 7,596 1,125 Impairment charges 114 533 718 533 Other costs (b) 3 64 3 46 (Loss) income from operations $ (19,206) $ 35,189 $ (16,285) $ 78,986 _______________ (a) Corporate overhead includes unallocated executive leadership and other centralized corporate functional support costs such as finance, IT, legal, human resources, and marketing, as well as public company expenses and corporate-wide projects (initiatives). (b) Other costs include acquisition and integration-related costs.

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unbilled contracts receivable	$ 59,200				$ 59,200		$ 89,900
Sales allowance, billing-related adjustments	700				700		$ 900
Credit loss expense	18,858	$ 1,290	$ 3,134	$ 4,908	$ 20,148	$ 8,042
Managed Service Programs (MSP) Customer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Credit loss expense	$ 19,400
Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Threshold period, past due for payment of services provided					30 days
Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Threshold period, past due for payment of services provided					60 days

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 19,375	$ 19,640	$ 18,020	$ 13,058	$ 19,640	$ 13,058
Credit Loss Expense	18,858	1,290	3,134	4,908	20,148	8,042
Write-Offs, net of Recoveries	(3,201)	(1,555)	(4,240)	54
Ending balance	$ 35,032	$ 19,375	$ 16,914	$ 18,020	$ 35,032	$ 16,914

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Restructuring (Benefits) Costs (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Restructuring Reserve [Roll Forward]
Charged to restructuring	$ 2,116		$ 913	$ 3,054	$ 1,342
Employee Termination Costs
Restructuring Reserve [Roll Forward]
Balance at beginning of period	324	$ 895		895
Charged to restructuring	1,740	188
Payments	(1,787)	(759)
Balance at end of period	277	324		277
Lease-Related Exit Costs
Restructuring Reserve [Roll Forward]
Balance at beginning of period	1,491	1,184		1,184
Charged to restructuring	0	525
Payments	(254)	(218)
Balance at end of period	$ 1,237	$ 1,491		$ 1,237

REVENUE RECOGNITION (Details)

REVENUE RECOGNITION (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Revenue from services	$ 339,771	$ 540,695	$ 718,945	$ 1,163,402
Temporary Staffing Services
Disaggregation of Revenue [Line Items]
Revenue from services	328,337	526,675	697,800	1,132,522
Other Services
Disaggregation of Revenue [Line Items]
Revenue from services	11,434	14,020	21,145	30,880
Nurse And Allied Staffing
Disaggregation of Revenue [Line Items]
Revenue from services	291,451	495,376	623,637	1,077,678
Nurse And Allied Staffing | Temporary Staffing Services
Disaggregation of Revenue [Line Items]
Revenue from services	282,501	483,560	607,475	1,051,210
Nurse And Allied Staffing | Other Services
Disaggregation of Revenue [Line Items]
Revenue from services	8,950	11,816	16,162	26,468
Physician Staffing
Disaggregation of Revenue [Line Items]
Revenue from services	48,320	45,319	95,308	85,724
Physician Staffing | Temporary Staffing Services
Disaggregation of Revenue [Line Items]
Revenue from services	45,836	43,115	90,325	81,312
Physician Staffing | Other Services
Disaggregation of Revenue [Line Items]
Revenue from services	$ 2,484	$ 2,204	$ 4,983	$ 4,412

ACQUISITIONS (Details)

ACQUISITIONS (Details) - USD ($) $ in Thousands				3 Months Ended			6 Months Ended
	Dec. 13, 2022	Oct. 03, 2022	Jun. 08, 2021	Mar. 31, 2024	Sep. 30, 2023	Sep. 30, 2022	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Business Acquisition [Line Items]
Payment of contingent consideration							$ 6,579	$ 0
Current portion of earnout liability							4,100		$ 6,794
HireUp
Business Acquisition [Line Items]
Cash consideration, gross	$ 6,000
Equity consideration for acquisition, value	$ 800
Equity consideration for acquisition (shares)	29,811
Earnout liabilities	$ 8,000
Payment of contingent consideration				$ 1,700
Mint
Business Acquisition [Line Items]
Cash consideration, gross		$ 27,000
Equity consideration for acquisition, value		$ 3,600
Equity consideration for acquisition (shares)		114,278
Earnout liabilities		$ 10,000
Payment of contingent consideration				$ 4,900
Current portion of earnout liability							$ 4,100
Workforce Solutions Group, Inc.
Business Acquisition [Line Items]
Cash consideration, gross			$ 25,000
Equity consideration for acquisition, value			$ 5,000
Equity consideration for acquisition (shares)			307,730
Earnout liabilities			$ 15,000
Payment of contingent consideration					$ 7,500	$ 7,500
Contingent consideration liability, term			3 years

COMPREHENSIVE (LOSS) INCOME (De

COMPREHENSIVE (LOSS) INCOME (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Equity [Abstract]
Loss on currency fluctuations	$ 1.5	$ 1.5

EARNINGS PER SHARE - Components

EARNINGS PER SHARE - Components of Numerator and Denominator for Computation of Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Numerator:
Net (loss) income attributable to common stockholders - Basic	$ (16,050)	$ 21,345	$ (13,358)	$ 50,781
Net (loss) income attributable to common stockholders - Diluted	$ (16,050)	$ 21,345	$ (13,358)	$ 50,781
Denominator:
Weighted average common shares - Basic (shares)	33,960	35,351	34,088	35,606
Effect of diluted shares:
Share-based awards (shares)	0	173	0	435
Weighted average common shares - Diluted (shares)	33,960	35,524	34,088	36,041
Net (loss) income per share attributable to common stockholders - Basic (in dollars per share)	$ (0.47)	$ 0.60	$ (0.39)	$ 1.43
Net (loss) income per share attributable to common stockholders - Diluted (in dollars per share)	$ (0.47)	$ 0.60	$ (0.39)	$ 1.41

EARNINGS PER SHARE - Anti-dilut

EARNINGS PER SHARE - Anti-dilutive Securities (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-Based Payment Arrangement
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Share-based awards (shares)	507	0	256	0

GOODWILL, TRADE NAMES, AND OT_3

GOODWILL, TRADE NAMES, AND OTHER INTANGIBLE ASSETS - Acquired Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Intangible assets subject to amortization:
Gross Carrying Amount	$ 94,568	$ 101,068
Accumulated Amortization	51,452	52,500
Net Carrying Amount	43,116	48,568
Intangible assets not subject to amortization:
Trade names, indefinite-lived	5,900	5,900
Databases
Intangible assets subject to amortization:
Gross Carrying Amount	39,430	45,930
Accumulated Amortization	21,253	24,971
Net Carrying Amount	18,177	20,959
Customer relationships
Intangible assets subject to amortization:
Gross Carrying Amount	52,538	52,538
Accumulated Amortization	28,561	26,286
Net Carrying Amount	23,977	26,252
Trade names
Intangible assets subject to amortization:
Gross Carrying Amount	900	900
Accumulated Amortization	773	548
Net Carrying Amount	127	352
Software
Intangible assets subject to amortization:
Gross Carrying Amount	1,700	1,700
Accumulated Amortization	865	695
Net Carrying Amount	$ 835	$ 1,005

GOODWILL, TRADE NAMES, AND OT_4

GOODWILL, TRADE NAMES, AND OTHER INTANGIBLE ASSETS - Estimated Annual Amortization Expense (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 5,030
2025	9,571
2026	8,362
2027	6,191
2028	4,791
Thereafter	9,171
Net Carrying Amount	$ 43,116	$ 48,568

GOODWILL, TRADE NAMES, AND OT_5

GOODWILL, TRADE NAMES, AND OTHER INTANGIBLE ASSETS - Additional Information (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Goodwill [Line Items]
Goodwill	$ 135,430	$ 135,430
Nurse And Allied Staffing
Goodwill [Line Items]
Goodwill	112,500
Physician Staffing
Goodwill [Line Items]
Goodwill	$ 22,900

DEBT - Long-term Debt (Details)

DEBT - Long-term Debt (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Debt	$ 0	$ 0
Debt Issuance Costs	$ (2,217,000)	$ (2,623,000)
Line of Credit | Senior Secured Asset-Based Loan
Debt Instrument [Line Items]
Effective interest rate percentage	7.19%	6.99%
Debt	$ 0	$ 0
Debt Issuance Costs	$ (2,217,000)	$ (2,623,000)

DEBT - Narrative (Details)

DEBT - Narrative (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
Debt	$ 0	$ 0

DEBT - 2021 Term Loan Credit Ag

DEBT - 2021 Term Loan Credit Agreement Narrative (Details) - USD ($)			3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 08, 2021	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Nov. 18, 2021
Debt Instrument [Line Items]
Repayment of outstanding obligations				$ 0	$ 73,875,000
Secured Debt | 2021 Term Loan Credit Agreement
Debt Instrument [Line Items]
Debt term		6 years
Face amount		$ 100,000,000
Repayment of outstanding obligations	$ 73,900,000
Write off of debt issuance costs			$ 1,700,000
Prepayment premium paid			$ 0
Secured Debt | 2021 Term Loan Credit Agreement, Incremental Term Loan
Debt Instrument [Line Items]
Face amount						$ 75,000,000
Secured Debt | 2021 Term Loan Credit Agreement, Aggregate Amount of All Possible Increases
Debt Instrument [Line Items]
Face amount						$ 115,000,000

DEBT - 2019 Asset-Based Loan Ag

DEBT - 2019 Asset-Based Loan Agreement (Details) - USD ($)			6 Months Ended
	Mar. 21, 2022	Oct. 25, 2019	Jun. 30, 2024	Nov. 18, 2021	Mar. 08, 2021	Jun. 30, 2020
Line of Credit Facility [Line Items]
Amount of indebtedness permitted from other sources				$ 175,000,000
Senior Secured Asset-Based Loan
Line of Credit Facility [Line Items]
Line of credit term	5 years	5 years
Maximum borrowing capacity	$ 300,000,000	$ 120,000,000			$ 150,000,000	$ 130,000,000
Borrowing base, percentage of accounts receivable		85%
Borrowing base availability			$ 166,700,000
Borrowing availability			152,900,000
Line of credit outstanding			0
Letters of credit outstanding			$ 13,800,000
Quarterly commitment fee on the average daily unused portion percentage			0.375%
Senior Secured Asset-Based Loan | SOFR
Line of Credit Facility [Line Items]
Basis spread on variable rate, additional credit spread associated with SOFR	0.10%
Interest margin percentage			1.85%
Senior Secured Asset-Based Loan | Base Rate
Line of Credit Facility [Line Items]
Interest margin percentage			0.75%
Senior Secured Asset-Based Loan | Swingline Sublimit
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 15,000,000
Senior Secured Asset-Based Loan | Standby Letters Of Credit Sublimit
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 35,000,000

LEASES - Supplemental Balance S

LEASES - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Leases [Abstract]
Operating lease right-of-use assets	$ 2,635	$ 2,599
Operating lease liabilities - current	2,085	2,604
Operating lease liabilities - non-current	$ 2,652	$ 2,663
Weighted average remaining lease term	3 years 21 days	2 years 2 months 12 days
Weighted average discount rate	6.78%	6.36%

LEASES - Operating Lease Maturi

LEASES - Operating Lease Maturity (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Leases [Abstract]
2024	$ 1,133
2025	2,372
2026	652
2027	533
2028	450
Thereafter	113
Total minimum lease payments	5,253
Less: amount of lease payments representing interest	(516)
Present value of future minimum lease payments	4,737
Less: operating lease liabilities - current	(2,085)	$ (2,604)
Operating lease liabilities - non-current	$ 2,652	$ 2,663

LEASES - Lease Costs (Details)

LEASES - Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities			$ 1,734	$ 2,434
Right-of-use assets acquired under operating lease			1,047	88
Operating lease expense	$ 363	$ 412	686	904
Short-term lease expense	358	738	777	1,818
Variable and other lease costs	$ (45)	$ 275	$ 580	$ 273

FAIR VALUE MEASUREMENTS - Estim

FAIR VALUE MEASUREMENTS - Estimated Fair Values of Financial Assets and Liabilities Measured on a Recurring Basis (Details) - Level 1 - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Deferred Compensation
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation liability	$ 2,899	$ 3,343
Deferred Compensation
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation asset	$ 3,561	$ 3,298

FAIR VALUE MEASUREMENTS - Addit

FAIR VALUE MEASUREMENTS - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2024	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Fair Value Measurement [Line Items]
Payment of contingent consideration		$ 6,579	$ 0
Current portion of earnout liability		4,100		$ 6,794
Mint
Fair Value Measurement [Line Items]
Payment of contingent consideration	$ 4,900
Current portion of earnout liability		$ 4,100
HireUp
Fair Value Measurement [Line Items]
Payment of contingent consideration	$ 1,700

STOCKHOLDERS' EQUITY - Addition

STOCKHOLDERS' EQUITY - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	May 14, 2024	May 01, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase and retirement	$ 14,946		$ 4,723	$ 21,314	$ 36,483
Unrestricted shares of common stock outstanding (shares)	33,388,000			33,388,000
Performance attainment percentage		101%
Omnibus Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for share-based payments (shares)						2,400,000
Restricted Stock And Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested in period, net (shares)	42,227		49,582	293,251	424,274
Performance Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested (shares)		145,908		145,908
Selling, General and Administrative Expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation	$ 2,300		$ 2,200	$ 3,500	$ 4,000
Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional authorized amount							$ 59,000
Common shares amount left remaining to repurchase under the plan (up to)	$ 56,000			$ 56,000			$ 100,000
Shares repurchased and retired (shares)	979,921		198,463	1,290,156	1,421,867
Stock repurchase and retirement	$ 14,900		$ 4,700	$ 21,300	$ 36,500
Average market price (in dollars per share)	$ 15.23		$ 23.78	$ 16.50	$ 25.64

STOCKHOLDERS' EQUITY - Restrict

STOCKHOLDERS' EQUITY - Restricted Stock Activity (Details) - $ / shares	3 Months Ended	6 Months Ended
	Mar. 31, 2024	Jun. 30, 2024
Restricted Stock Awards
Number of Shares
Unvested restricted stock awards, beginning balance (shares)	547,534	547,534
Granted (shares)		375,377
Vested (shares)		(308,241)
Forfeited (shares)		(50,256)
Unvested restricted stock awards, ending balance (shares)		564,414
Weighted Average Grant Date Fair Value
Unvested restricted stock awards, beginning balance (in dollars per share)	$ 20.42	$ 20.42
Granted (in dollars per share)		18.05
Vested (in dollars per share)		19.02
Forfeited (in dollars per share)		20.81
Unvested restricted stock awards, ending balance (in dollars per share)		$ 19.58
Performance Stock Awards
Number of Shares
Unvested restricted stock awards, beginning balance (shares)	417,197	417,197
Granted (shares)		170,880
Vested (shares)	(145,908)	(145,908)
Forfeited (shares)		(23,875)
Unvested restricted stock awards, ending balance (shares)		418,294
Weighted Average Grant Date Fair Value
Unvested restricted stock awards, beginning balance (in dollars per share)	$ 18.75	$ 18.75
Granted (in dollars per share)		18.67
Vested (in dollars per share)		12.71
Forfeited (in dollars per share)		21.39
Unvested restricted stock awards, ending balance (in dollars per share)		$ 20.68

SEGMENT DATA (Details)

SEGMENT DATA (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue from services	$ 339,771	$ 540,695	$ 718,945	$ 1,163,402
Contribution income:	9,853	60,022	40,174	128,915
Corporate overhead	18,161	18,891	35,727	37,547
Depreciation and amortization	4,719	4,432	9,361	9,336
Restructuring costs	2,116	913	3,054	1,342
Legal and other losses	3,946	0	7,596	1,125
Impairment charges	114	533	718	533
Other costs	3	64	3	46
(Loss) income from operations	(19,206)	35,189	(16,285)	78,986
Nurse and Allied Staffing
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue from services	291,451	495,376	623,637	1,077,678
Contribution income:	5,820	56,481	33,003	123,650
Physician Staffing
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue from services	48,320	45,319	95,308	85,724
Contribution income:	$ 4,033	$ 3,541	$ 7,171	$ 5,265

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Effective tax rate	18%	29.60%	15.80%	27.90%
Uncertain tax positions	$ 11,642		$ 11,642		$ 10,603
Unrecognized tax benefits that would impact effective tax rate	$ 11,000		11,000
Gross increase to current year unrecognized tax benefits related to federal and state tax issues			$ 1,000

SUBSEQUENT EVENT (Details)

SUBSEQUENT EVENT (Details) - Senior Secured Asset-Based Loan - USD ($)	Jul. 29, 2024	Jun. 30, 2024
Subsequent Event [Line Items]
Line of credit outstanding		$ 0
Subsequent Event
Subsequent Event [Line Items]
Line of credit outstanding	$ 0