NRC HEALTH
For the period ended Mar 31, 2026. Filed May 6, 2026.
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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, 2026 · Filed May 6, 2026
NRC$26.85+0.7%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows
(In thousands, unaudited)
| Three months ended | ||
|---|---|---|
| March 31, | ||
| 2026 | 2025 | |
| Cash flows from operating activities: | ||
| Net income | $3,222 | $5,787 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 2,169 | 1,542 |
| Deferred income tax expense (benefit) | (36) | 1,860 |
| Reserve for uncertain tax positions | (56) | 76 |
| Non-cash share-based compensation expense | 1,608 | 171 |
| Change in fair value of contingent consideration | - | 31 |
| Loss on extinguishment of debt | - | 67 |
| Amortization of debt issuance costs | 27 | 15 |
| Net changes in assets and liabilities: | ||
| Trade accounts receivable | 275 | (272) |
| Prepaid expenses and other current and long-term assets | (1,627) | (2,419) |
| Deferred contract costs, net | (625) | 24 |
| Operating lease assets and liabilities, net | (30) | (26) |
| Accounts payable | 942 | 627 |
| Accrued expenses, wages, and bonuses | (889) | (472) |
| Income taxes receivable and payable | 1,265 | (80) |
| Deferred revenue | 935 | (285) |
| Net cash provided by operating activities | 7,180 | 6,646 |
| Cash flows from investing activities: | ||
| Capital expenditures | (1,834) | (2,986) |
| Net cash used in investing activities | (1,834) | (2,986) |
| Cash flows from financing activities: | ||
| Borrowings on notes payable | - | 27,738 |
| Payments on notes payable | (1,030) | (28,724) |
| Borrowings on revolving loan | 2,500 | 8,000 |
| Payments on revolving loan | (2,500) | (4,503) |
| Payment of debt issuance costs | - | (62) |
| Payments on finance lease obligations | (3) | (2) |
| Proceeds from the exercise of share-based awards | 139 | 132 |
| Payment of acquisition contingent consideration | (484) | (280) |
| Repurchase of shares for treasury | (1,935) | (4,920) |
| Payment of dividends on common stock | (3,625) | (2,770) |
| Net cash used in financing activities | (6,938) | (5,391) |
| Change in cash and cash equivalents | (1,592) | (1,731) |
| Cash and cash equivalents at beginning of period | 4,139 | 4,233 |
| Cash and cash equivalents at end of period | $2,547 | $2,502 |
CONSOLIDATED STATEMENTS OF CASH FLOWS, Continued
(In thousands)
| Three months ended | |||
|---|---|---|---|
| March 31, | |||
| 2026 · 2025 | |||
| Supplemental disclosure of cash paid for: | |||
| Interest expense, net of capitalized amounts | $1,247 | $774 | |
| Income taxes | $80 | ||
| Income taxes (federal) | $ | - | |
| Income taxes (state and local) | $26 | ||
| Supplemental disclosure of non-cash investing and financing activities: | |||
| Purchase of property and equipment in accounts payable and accrued expenses | $450 | $2,131 | |
| Repurchase of shares for treasury in accounts payable and accrued expenses | $151 | $47 | |
| Debt issuance costs included in accrued expenses | $ | - | $81 |
| New debt issued to existing lender | $ | - | $34,396 |
| Debt extinguished using proceeds from new debt | $ | - | $62,076 |
| Noncash borrowings on long-term debt for accrued interest and debt issuance costs | $ | - | $351 |
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