of the Company's Current Report on Form 8-K filed on

ANNOUNCES FOURTH QUARTER AND FULL YEAR 2024 RESULTS

Quarterly revenue of $735 million;

GAAP loss of ($4.90)/share and adjusted EPS of

DALLAS - (February 20, 2025) - AMN

Healthcare Services, Inc. (NYSE: AMN), the leader and innovator in total talent solutions for healthcare organizations across the United

States, today announced its fourth quarter and full year 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 items.

2024 & Recent Highlights

"AMN recorded a solid fourth

quarter that outperformed our expectations, and we continue to see a more normalized operating environment compared with the past two

years," said Cary Grace, AMN President and Chief Executive Officer. "Our talented, motivated team continues to make progress

in supporting clients' total workforce needs and unlocking opportunities for growth. We are finding that our heightened emphasis

on technology-enabled solutions and delivering value is resonating with both healthcare organizations and healthcare professionals."

Fourth Quarter 2024 Results

Consolidated revenue for the quarter

was $735 million, a 10% decrease over prior year and 7% higher than prior quarter. We reported a net loss of ($188 million), or ($4.90)

per diluted share, with the loss resulting from a $222 million non-cash goodwill impairment. This compared with net income of $12 million,

or $0.33 per diluted share, in the same quarter last year. Adjusted diluted EPS was $0.75 compared with $1.32 in the year-ago quarter.

Revenue for the Nurse and Allied

Solutions segment was $455 million, lower by 15% year over year and up 14% sequentially. We recorded labor disruption revenue of $62 million.

Travel nurse revenue was down 35% year over year and 6% sequentially. Allied division revenue declined 9% year over year and increased

6% versus prior quarter.

The Physician and Leadership Solutions

segment reported revenue of $173 million, 3% higher year over year and down 4% sequentially. Locum tenens revenue increased 10% year over

year, due to the MSDR acquisition, and was down 4% sequentially. Interim leadership revenue was down 11% year over year and 9% sequentially.

Search revenue was lower by 32% year over year and up 2% quarter over quarter.

Technology and Workforce Solutions

segment revenue was $107 million reflecting a decrease of 5% year over year and 1% sequentially. Language services revenue was $76 million

in the quarter, up 12% year over year and 2% compared with the prior quarter. Vendor management systems revenue was $23 million, 26% lower

year over year and down 10% sequentially.

Consolidated gross margin was

29.8%, lower by 210 basis points year over year and lower by 120 basis points sequentially. The year-over-year decline in gross margin

was primarily driven by lower margin in all three segments. On a sequential basis, gross margin decreased due to lower Nurse and Allied

margin and an unfavorable segment mix shift.

SG&A expenses were $159 million

or 21.6% of revenue, compared with $185 million, or 22.7% of revenue, in the same quarter last year. SG&A was $150 million, or 21.8%

of revenue, in the previous quarter. The year-over-year decrease in SG&A costs was primarily due to cost-containment efforts given

lower revenue. The quarter-over-quarter increase was driven primarily by unfavorable accruals for a state sales tax audit and professional

liability, and higher labor disruption support costs, partially offset by cost-reduction efforts.

During the fourth quarter, we

recorded a non-cash goodwill impairment charge of $222 million related to our Nurse and Allied Solutions and Physician and Leadership

Solutions segments. The impairment assessment and related charge was primarily triggered by the decline in the Company's equity

market capitalization.

Loss from operations was ($203

million) compared with income from operations of $34 million in the same quarter last year. Adjusted EBITDA was $75 million, reflecting

a year-over-year decrease of 28%. Adjusted EBITDA margin was 10.2%, lower by 250 basis points year over year and a decrease of 50 basis

points sequentially.

Full Year 2024 Results

Full year 2024 consolidated revenue

was $2.984 billion, a 21% decrease from prior year. Full year net loss was ($147 million), or ($3.85) per diluted share, compared with

net income of $211 million, or $5.36 per diluted share, in the prior year. Adjusted diluted EPS was $3.31 compared with $8.21 in 2023.

Nurse and Allied Solutions segment

revenue was $1.816 billion, a year-over-year decrease of 31%. The Physician and Leadership Solutions segment recorded revenue of $729

million, 9% higher compared with the prior year driven by the MSDR acquisition. Technology and Workforce Solutions segment revenue was

$439 million, 11% lower year over year.

Full year consolidated gross margin

was 30.8% compared with 33.0% for the prior year. The drop in gross margin year over year is attributable to a lower gross margins in

all segments, partially offset by a favorable change in revenue mix.

Full year consolidated SG&A

expenses were $632 million, representing 21.2% of revenue as compared to $756 million, representing 20.0% of revenue, for the prior year.

The year-over-year decrease in SG&A expenses was primarily due to lower employee compensation and benefits.

Full year loss from operations

was ($103 million) compared with income from operations of $338 million in the prior year. Adjusted EBITDA was $341 million, a year-over-year

decrease of 41%. Adjusted EBITDA margin was 11.4%, 390 basis points lower year over year.

At December 31, 2024, cash

and cash equivalents totaled $11 million. Cash flow from operations was $73 million for the quarter and $320 million for the full year.

Capital expenditures were $16 million in the quarter and $81 million for the year. The Company ended the year with total debt outstanding

of $1.060 billion, including a revolving credit balance of $210 million, and a net leverage ratio of 3.0 to 1. The Company reduced its

revolver balance by $250 million in 2024.

First Quarter 2025 Outlook

*Note: Guidance 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"

Consolidated revenue in the first

quarter of 2025 is projected to be 17-20% lower than the year-ago period. Nurse and Allied Solutions segment revenue is expected to be

22-25% lower than prior year, and guidance assumes $24 million of labor disruption revenue. We expect Physician and Leadership Solutions

segment revenue in the first quarter to be 9-11% lower year over year. Technology and Workforce Solutions segment revenue is projected

to be down 8-10% year over year.

Other first quarter estimates

include depreciation expense of $19 million, depreciation in cost of services of $2 million, non-cash amortization expense of $20 million,

stock-based compensation expense of $9 million, interest expense of $12 million, integration and other expenses of $3 million, an adjusted

tax rate of 26%, and 38.4 million weighted average diluted shares.

Conference Call on February 20,

AMN Healthcare Services, Inc.

(NYSE: AMN), the leader and innovator in total talent solutions for healthcare, will host a conference call to discuss its fourth quarter

and full year 2024 financial results and first quarter 2025 outlook on Thursday, February 20, 2025, at 5:00 p.m. Eastern Time. A

live webcast of the call can be accessed through this webcast link, which also will be available

at AMN Healthcare's investor relations website. Interested parties may participate live

via telephone by registering at this conference call link. Please follow the link and register

with a valid e-mail address. A PIN will be provided to you with dial-in instructions. If you lose track of these details, please re-register

at the conference call link above.

About AMN Healthcare

AMN Healthcare is the leader and

innovator in total talent solutions for healthcare organizations across the United States. 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 managed services programs, clinical and interim healthcare leaders, temporary staffing,