NUTXHIGH SIGNALFINANCIAL10-K

NUTX demonstrates exceptional financial performance with revenue increasing 82% to $875M and operating cash flow surging 972% to $248M, indicating significant business expansion or transformation.

The dramatic improvement across all key financial metrics suggests NUTX has either completed a major acquisition, achieved substantial organic growth, or undergone significant operational improvements. The 1-150 reverse stock split completed in 2024 indicates the company was previously experiencing severe share price pressure, making this financial turnaround particularly noteworthy for investors.

Comparing 2026-03-05 vs 2025-03-31View on EDGAR →
FINANCIAL ANALYSIS

NUTX shows remarkable financial transformation with revenue growing 82% to $875M, gross profit doubling to $444M, and operating cash flow exploding from $23M to $248M. The balance sheet strengthened significantly with cash increasing 326% to $186M and stockholders' equity growing 125% to $329M, while accounts receivable also surged 297%. This comprehensive improvement across revenue, profitability, cash generation, and balance sheet strength signals either successful major acquisitions or dramatic operational improvements that fundamentally transformed the business scale and performance.

FINANCIAL STATEMENT CHANGES
Operating Cash Flow
Cash Flow
+971.6%
$23.2M$248.1M

Operating cash flow surged 971.6% — exceptional cash generation, highest quality earnings signal.

Cash & Equivalents
Balance Sheet
+325.8%
$43.6M$185.6M

Cash position surged 325.8% — strong cash generation or capital raise providing significant financial cushion.

Accounts Receivable
Balance Sheet
+296.5%
$58.6M$232.4M

Receivables surged 296.5% — revenue recognized but not yet collected; watch for collection issues or channel stuffing.

Gross Profit
P&L
+126.4%
$196.3M$444.3M

Gross profit expanding — improving pricing power or product mix shift toward higher-margin offerings.

Stockholders Equity
Balance Sheet
+125.1%
$146.3M$329.4M

Equity base grew 125.1% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Operating Income
P&L
+111%
$130.6M$275.6M

Operating leverage kicking in — revenue growth outpacing cost growth, a hallmark of scaling businesses.

Current Assets
Balance Sheet
+84.2%
$292.5M$538.8M

Current assets grew 84.2% — improving short-term liquidity or inventory/receivables build.

Revenue
P&L
+82.4%
$479.9M$875.3M

Strong top-line growth of 82.4% — accelerating demand or successful expansion into new markets.

R&D Expense
P&L
-48.7%
$557K$286K

R&D spending cut 48.7% — could signal cost discipline or concerning reduction in innovation investment.

Total Assets
Balance Sheet
+40.2%
$655.3M$918.5M

Asset base grew 40.2% — expansion through organic growth, acquisitions, or capital deployment.

LANGUAGE CHANGES
NEW — 2026-03-05
PRIOR — 2025-03-31
ADDED
(Exact name of registrant as specified in its charter) Delaware 11-3363609 (State or other jurisdiction of incorporation or organization) (I.R.S.
At March 2, 2026, there were 6,968,350 shares of common stock outstanding.
On April 9, 2024, the Company effected a 1-15 reverse stock split and on July 2, 2024, the Company effected an additional 1-10 reverse stock split, or an aggregate of 1-150 (together, the 2024 Reverse Stock Splits ).
See Note 1 - Organization and Operations for information and disclosures relating to adjustments related to the 2024 Reverse Stock Splits.
( Nutex Health or the Company ) is a physician-led, healthcare services and operations company with 26 hospital facilities (as of December 31, 2025) in 12 states (hospital division), and a primary care-centric, risk-bearing population health management division.
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REMOVED
Delaware 11-3363609 (State or other jurisdiction of incorporation or organization) (I.R.S.
At March 24, 2025, there were 5,528,448 shares of common stock outstanding.
Immediately prior to the merger, holders of 84% of the aggregate equity interests in subsidiaries and affiliates of Nutex Health Holdco LLC contributed these ownership interests to Nutex Health Holdco LLC in exchange for Nutex Health Holdco LLC equity interests.
Immediately thereafter, in the merger, each unit representing an equity interest in Nutex Health Holdco LLC was converted into the right to receive shares of Clinigence (n/k/a Nutex Health Inc.) common stock.
Unless the context dictates otherwise, references in this Annual Report on Form 10-K to Nutex, the Company, we, us, our, and similar words are references to Nutex Health Inc.
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