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Nutex Health Inc.

Nutex Health Inc.

NASDAQ•NUTX
CEO: Dr. Thomas T. Vo M.B.A., M.D.
Sector: Healthcare
Industry: Medical - Healthcare Information Services
Listing Date: 2022-04-04
Nutex Health Inc. operates as a physician-led, healthcare services, and operations company. It operates through three segments: Hospital, Population Health Management (PHM), and Real Estate. The PHM segment establishes and operates independent physician associations; and offers a cloud-based platform for healthcare organizations to provide value-based care and population health management. The Real Estate segment owns and owns and leases land and hospital building. The Hospital segment develops and operates a network of micro-hospitals, specialty hospitals and hospital outpatient departments which offers 24/7 care. It also provides operational and managerial services, including management, billing, collections, human resources and recruiting, legal, accounting, and marketing. In addition, the company offers healthcare services, including emergency room care, inpatient care, and behavioral health, as well as onsite imaging, such as CT scan, X-ray, MRI, ultrasound, etc.; certified and accredited laboratories; and onsite inpatient pharmacies. The company was founded in 2011 and is based in Houston, Texas.
Contact Information
6030 South Rice Avenue, Suite C, Houston, TX, 77081, United States
713-660-0557
www.nutexhealth.com
Market Cap
$930.13M
P/E (TTM)
9.2
47.3
Dividend Yield
--
52W High
$193.07
52W Low
$36.05
52W Range
77%
Rank47Top 61.9%
3.4
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 3.4 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025

Financial Dashboard

Q3 2025 Data

Revenue

$267.80M+239.88%
4-Quarter Trend

EPS

$8.27-580.81%
4-Quarter Trend

FCF

$99.21M+1507.37%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Revenue Soars 239% Total revenue reached $267.8M for Q3 2025, up 239.3% from $78.8M in Q3 2024, driven by IDR success.
Swing to Net Income Net income attributable to stockholders was $55.4M in Q3 2025, reversing prior year's $8.8M net loss for the quarter.
Adjusted EBITDA Jumps Adjusted EBITDA increased to $98.5M in Q3 2025, up 917.5% compared to $9.7M in the comparable prior period.
Cash Position Strengthened Cash and equivalents grew substantially to $166.0M as of September 30, 2025, up from $40.6M at year-end 2024.

Risk Factors

Stock-Based Compensation Spikes Nine-month stock-based compensation expense hit $119.6M, a $117.7M increase, tied to ramping hospital obligations.
Potential Share Dilution Disputes over earn-out formulas could require issuing up to 1.36M shares, representing 19.7% of current outstanding stock.
Ongoing Legal Challenges Securities class action and derivative lawsuits filed; outcomes are uncertain and could materially affect financial position.
Arbitration Expense Costs Total arbitration costs reached $116.2M for nine months, reflecting significant third-party vendor fees for dispute resolution.

Outlook

Hospital Facility Expansion Expect opening three new hospital facilities by end of 2025, supporting clinical services expansion plans.
IPA Growth Strategy Plan launching one to three additional Independent Physician Associations annually, focusing on geographic expansion near micro-hospitals.
Future Financing Needs Seeking larger financing commitments to supplement smaller lines of credit; subject to favorable market conditions.
Convertible Note Conversion Remaining unsecured convertible notes converted $4.9M principal plus interest in October 2025, reducing future debt obligations.

Peer Comparison

Revenue (TTM)

Nutex Health Inc.NUTX
$981.20M
+236.0%
Orthofix Medical Inc.OFIX
$818.06M
+4.3%
Avanos Medical, Inc.AVNS
$699.90M
+2.7%

Gross Margin (Latest Quarter)

CytomX Therapeutics, Inc.CTMX
100.0%
+0.0pp
Bicycle Therapeutics plcBCYC
100.0%
+1705.8pp
Verastem, Inc.VSTM
85.1%
+0.0pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
BFLY$1.14B-14.2-37.8%7.3%
CTMX$938.67M32.644.5%3.5%
NUTX$930.13M9.245.7%37.2%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
1.3%
Moderate Growth
4Q Net Income CAGR
-3.5%
Stable Profitability
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:Mar 31, 2026
|
EPS:-
|
Revenue:$258.82M
Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 19, 2025|
    Revenue: $267.80M+239.9%
    |
    EPS: $8.27-580.8%
    Beat

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Nov 18, 2025|
    Revenue: $243.99M+220.7%
    |
    EPS: $-3.21+4285.2%
    Miss

  • Form 10-Q/A - Q1 2025

    Period End: Mar 31, 2025|Filed: Nov 18, 2025|
    Revenue: $211.79M+214.0%
    |
    EPS: $2.65-3375.6%
    Miss

  • Form 10-K/A - FY 2024

    Period End: Dec 31, 2024|Filed: Nov 18, 2025|
    Revenue: $479.95M+93.8%
    |
    EPS: $10.23+198.5%
    Beat

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 13, 2025|Refer to amended data

  • Form 10-K/A - FY 2024

    Period End: Dec 31, 2024|Filed: Apr 30, 2025|Refer to amended data

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Mar 31, 2025|Refer to amended data

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 7, 2024|
    Revenue: $78.79M+25.6%
    |
    EPS: $-1.72+37.6%
    Miss