NRC HEALTH
For the period ended Mar 31, 2025. Filed May 9, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 9, 2025
NRC$26.67+3.1%Stored close · as of Nov 9, 2026
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Condensed Consolidated Balance Sheets
(In thousands, except share amounts and par value)
| March 31, 2025 | December 31, 2024 | |
|---|---|---|
| (unaudited) | ||
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $2,502 | $4,233 |
| Trade accounts receivable, less allowance for doubtful accounts of $40 and $40, respectively | 11,326 | 11,054 |
| Prepaid expenses | 5,845 | 3,480 |
| Income taxes receivable | 141 | 141 |
| Other current assets | 588 | 692 |
| Total current assets | 20,402 | 19,600 |
| Net property and equipment | 40,390 | 38,269 |
| Intangible assets, net | 2,519 | 2,616 |
| Goodwill | 66,152 | 66,152 |
| Operating lease right-of-use assets | 1,497 | 1,627 |
| Deferred contract costs, net | 1,538 | 1,562 |
| Other noncurrent assets | 2,677 | 2,713 |
| Total assets | $135,175 | $132,539 |
| Liabilities and Shareholders’ Equity | ||
| Current liabilities: | ||
| Current portion of notes payable, net of unamortized debt issuance costs | $3,036 | $4,789 |
| Revolving loan | 3,500 | - |
| Accounts payable | 2,030 | 1,194 |
| Accrued wages and bonuses | 4,915 | 4,774 |
| Accrued expenses | 4,713 | 5,091 |
| Dividends payable | 2,735 | 2,770 |
| Deferred revenue | 15,507 | 15,786 |
| Income taxes payable | 274 | 353 |
| Other current liabilities | 1,064 | 1,101 |
| Total current liabilities | 37,774 | 35,858 |
| Notes payable, net of current portion and unamortized debt issuance costs | 58,669 | 57,895 |
| Deferred income taxes | 5,391 | 3,531 |
| Other long-term liabilities | 3,669 | 3,971 |
| Total liabilities | 105,503 | 101,255 |
| Shareholders’ equity: | ||
| Preferred stock, $0.01 par value, authorized 2,000,000 shares, none issued | - | - |
| Common stock, $0.001 par value; authorized 110,000,000 shares, issued 31,082,158 in 2025 and 31,072,144 in 2024, outstanding 22,785,421 in 2025 and 23,083,116 in 2024 | 31 | 31 |
| Additional paid-in capital | 180,552 | 180,249 |
| Retained earnings (accumulated deficit) | (14,012) | (17,064) |
| Treasury stock, at cost; 8,296,737 and 7,989,028 Common shares in 2025 and 2024, respectively | (136,899) | (131,932) |
| Total shareholders’ equity | 29,672 | 31,284 |
| Total liabilities and shareholders’ equity | $135,175 | $132,539 |
See accompanying notes to condensed consolidated financial statements
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