NRC Health reported third quarter 2026 revenue of $38.4 million, representing 11% year-over-year growth. Results were driven by the scheduled activation of a large customer contract and high retention rates among long-standing clients, although operating margins saw a slight year-over-year compression.
Key Highlights
- Total Recurring Contract Value (TRCV) increased 9% year-over-year to $154.1 million, which serves as a leading indicator for future revenue trends.
- Adjusted EBITDA reached $10.9 million, representing a 28% margin, down from the 31% margin reported in the prior-year period.
- The company generated $7.0 million in free cash flow during the quarter, despite a decrease in operating cash flow from $13.8 million to $8.0 million year-over-year.
- A quarterly cash dividend of $0.16 per share was declared, despite the company reporting a total shareholders' equity deficit of $9.1 million.