AMN HEALTHCARE ANNOUNCES THIRD QUARTER 2024 RESULTS Quarterly revenue of $688 million; GAAP EPS of $0.18 and adjusted EPS of $0.61 DALLAS - AMN Healthcare Services, Inc. (NYSE: AMN), the leader and innovator in total tal

AMN HEALTHCARE ANNOUNCES THIRD QUARTER 2024 RESULTS

Quarterly revenue of $688 million;

GAAP EPS of $0.18 and adjusted EPS of $0.61

DALLAS - AMN Healthcare Services, Inc. (NYSE:

AMN), the leader and innovator in total talent solutions for healthcare organizations across the United States, today announced its third

quarter 2024 financial results. Financial highlights are as follows:

Dollars in millions, except per share amounts.

* See "Non-GAAP Measures" below for a

discussion of our use of non-GAAP items and the table entitled "Non-GAAP Reconciliation Tables" for a reconciliation of non-GAAP

"Our company performed well

in difficult competitive conditions to surpass revenue and earnings expectations in the third quarter of 2024," said Cary Grace,

President and Chief Executive Officer of AMN Healthcare. "Current and prospective clients are showing greater interest in total

talent solutions, pulling in a diverse set of solutions including predictive workforce tools, temporary and permanent staffing, enabling

technology, and our comprehensive range of managed staffing from master-supplier to vendor-neutral. We continue to innovate with clients

and healthcare partners to help them optimize their workforce, including adding Locums functionality to extend the market leadership of

our ShiftWise Flex VMS platform."

Third Quarter 2024 Results

Consolidated revenue for the quarter

was $688 million, a 19% decrease from prior year and a 7% decrease from the prior quarter. Net income was $7 million (1.0% of revenue),

or $0.18 per diluted share, compared with $53 million (6.2% of revenue), or $1.39 per diluted share, in the third quarter of 2023. Adjusted

diluted EPS in the third quarter was $0.61 compared with $1.97 in the same quarter a year ago.

Revenue for the Nurse and Allied

Solutions segment was $399 million, lower by 30% year over year and down 10% from the prior quarter. Travel nurse staffing revenue dropped

by 37% year over year and 12% sequentially, reflecting a dip in demand earlier in the year. Allied division revenue declined 16% year

over year and was 7% lower than the prior quarter.

The Physician and Leadership Solutions

segment reported revenue of $181 million, up 13% year over year and down 3% sequentially. Locum tenens revenue was $142 million, 26% higher

year over year, with growth coming from the MSDR acquisition, and 1% lower sequentially. Interim leadership revenue was down by 7% year

over year. Our physician and leadership search businesses saw revenue decline by 38% year over year and 23% quarter over quarter.

Technology and Workforce Solutions

segment revenue was $108 million, a decrease of 11% year over year and 4% sequentially. Language services revenue was $75 million in the

quarter, 13% higher than the prior year and flat sequentially. Vendor management systems revenue was $25 million, 34% lower year over

year and down 9% from the prior quarter.

Consolidated gross margin was

31.0%, 290 basis points lower year over year and flat sequentially. Gross margin declined year over year across all three of our business

segments, offset in part by a revenue mix shift toward higher-margin segments.

Consolidated SG&A expenses

were $150 million, or 21.8% of revenue, compared with $163 million, or 19.1% of revenue, in the same quarter last year. SG&A was $149

million, or 20.1% of revenue, in the previous quarter. The year-over-year decrease in SG&A costs was driven primarily by lower employee

and professional service expenses, resulting from prudent expense management to match revenues.

Income from operations was $22

million with an operating margin of 3.2%, compared with $87 million and 10.2%, respectively, in the same quarter last year. Adjusted EBITDA

was $74 million, a year-over-year decrease of 45%. Adjusted EBITDA margin was 10.7%, 500 basis points lower than the year-ago period.

At September 30, 2024, cash

and cash equivalents totaled $31 million. Cash flow from operations was $67 million for the third quarter, including the payment of a

previously disclosed legal settlement for which we had accrued $62 million. Capital expenditures were $19 million. The Company ended the

quarter with total debt outstanding of $1.135 billion.

Fourth Quarter 2024 Outlook

percentage metrics are approximate. For a reconciliation of adjusted EBITDA margin, see the table entitled "Reconciliation of Guidance

Operating Margin to Guidance Adjusted EBITDA Margin" below.

Revenue in the fourth quarter

of 2024 is expected to be 14-16% lower than the prior year and flat to up 3% sequentially. Nurse and Allied Solutions segment revenue

is expected to be down 21-24% year over year. Physician and Leadership Solutions segment revenue is expected to grow approximately 3%

year over year. Technology and Workforce Solutions segment revenue is projected to be lower by approximately 9% year over year. This outlook

includes $45 million of Nurse and Allied revenue that is not expected to recur after this quarter, primarily composed of labor disruption

revenue. This revenue favorably impacts our gross margin guidance by approximately 60 basis points.

Fourth quarter estimates for certain

other financial items include depreciation of $20 million, depreciation in cost of revenue of $2 million, non-cash amortization expense

of $22 million, share-based compensation expense of $4 million, integration and other expenses of $3 million, interest expense of $14

million, an adjusted tax rate of 27%, and 38.4 million diluted average shares outstanding.

Conference Call on November 7, 2024

AMN Healthcare Services, Inc.

(NYSE: AMN) will host a conference call to discuss its third quarter 2024 financial results and fourth quarter 2024 outlook on Thursday,

November 7, 2024 at 5:00 p.m. Eastern Time. A live webcast of the call can be accessed through AMN Healthcare's website at

http://ir.amnhealthcare.com. Interested parties may participate live via telephone by registering at this

link. Registrants will receive confirmation and dial-in details. Following the conclusion of the call, a replay of the webcast

will be available at the Company's investor relations website.

About AMN Healthcare

AMN Healthcare is the leader and

innovator in total talent solutions for healthcare organizations across the nation. The Company provides access to the most comprehensive

network of quality healthcare professionals through its innovative recruitment strategies and breadth of career opportunities. With insights

and expertise, AMN Healthcare helps providers optimize their workforce to successfully reduce complexity, increase efficiency and improve

patient outcomes. AMN total talent solutions include direct staffing, vendor-neutral and managed services programs, clinical and interim

healthcare leaders, temporary staffing, permanent placement, executive search, vendor management systems, recruitment process outsourcing,

predictive modeling, language services, revenue cycle solutions, and other services. Clients include acute-care hospitals, community health

centers and clinics, physician practice groups, retail and urgent care centers, home health facilities, schools and many other healthcare

settings. AMN Healthcare is committed to fostering and maintaining a diverse team that reflects the communities we serve. Our commitment

to the inclusion of many different backgrounds, experiences and perspectives enables our innovation and leadership in the healthcare services

The Company's common stock

is listed on the New York Stock Exchange under the symbol "AMN." For more information about AMN Healthcare, visit www.amnhealthcare.com,

where the Company posts news releases, investor presentations, webcasts, SEC filings and other material information. The Company also

utilizes email alerts and Really Simple Syndication ("RSS") as routine channels to supplement distribution of this information.

To register for email alerts and RSS, visit http://ir.amnhealthcare.com.

This earnings release and the

non-GAAP reconciliation tables included with the earnings release contain certain non-GAAP financial information, which the Company provides

as additional information, and not as an alternative, to the Company's condensed consolidated financial statements presented in

accordance with GAAP. These non-GAAP financial measures include (1) adjusted EBITDA, (2) adjusted EBITDA margin, (3) adjusted net income,

and (4) adjusted diluted EPS. The Company provides such non-GAAP financial measures because management believes that they are useful to

both management and investors as a supplement, and not as a substitute, when evaluating the Company's operating performance. Additionally,

management believes that adjusted EBITDA, adjusted EBITDA margin, and adjusted diluted EPS serve as industry-wide financial measures.

The Company uses adjusted EBITDA for making financial decisions, allocating resources and for determining certain incentive compensation

objectives. The non-GAAP measures in this release are not in accordance with, or an alternative to, GAAP measures and may be different

from non-GAAP measures, or may be calculated differently than other similarly titled non-GAAP measures, reported by other companies. They

should not be used in isolation to evaluate the Company's performance. A reconciliation of non-GAAP measures identified in this

release, along with further detail about the use and limitations of certain of these non-GAAP measures, may be found below in the table

entitled "Non-GAAP Reconciliation Tables" under the caption entitled "Reconciliation of Non-GAAP Items" and the

footnotes thereto or on the Company's website at https://ir.amnhealthcare.com/financials/quarterly-results. Additionally, from time

to time, additional information regarding non-GAAP financial measures, including pro forma measures, may be made available on the Company's