Revenue: As of FY2026 Q2, the actual value is USD 35.39 M.

EPS: As of FY2026 Q2, the actual value is USD -0.15.

EBIT: As of FY2026 Q2, the actual value is USD -3.218 M.

Total Recurring Contract Value (TRCV)

NRC Health’s Total Recurring Contract Value (TRCV) was $151.9 million, an increase of 11% year-over-year.

Revenue

Total revenue for the three months ended June 30, 2026, was $35.392 million, up 4% from the prior year’s $34.038 million. For the six months ended June 30, 2026, total revenue was $70.195 million, compared to $67.588 million for the same period in 2025.

Net Income (Loss)

GAAP net loss for the second quarter of 2026 was - $3.283 million, representing -9% of revenue, compared to a net loss of - $0.106 million in the prior year period. For the six months ended June 30, 2026, GAAP net loss was - $0.061 million, a significant decrease from a net income of $5.681 million in the comparable 2025 period.Adjusted Net Income for the second quarter of 2026 was $6.858 million, representing 19% of revenue, up from $6.395 million in the second quarter of 2025. For the six months ended June 30, 2026, Adjusted Net Income was $11.428 million, down from $12.310 million in the same period of 2025.

Operating Profit / Loss

Operating loss for the three months ended June 30, 2026, was - $3.238 million, a decrease from an operating income of $1.588 million in the prior year. For the six months ended June 30, 2026, operating income was $2.331 million, a substantial decrease from $10.184 million in the same period of 2025.

Operating Costs

Total operating expenses for the second quarter of 2026 were $38.630 million, up from $32.450 million in the second quarter of 2025. This included direct costs of $13.564 million (up from $12.974 million), selling, general, and administrative expenses of $22.945 million (up from $17.734 million), and depreciation and amortization of $2.121 million (up from $1.742 million). For the six months ended June 30, 2026, total operating expenses were $67.864 million, compared to $57.404 million in the prior year period.

Adjusted EBITDA

Adjusted EBITDA for the second quarter of 2026 was $9.436 million, representing 27% of revenue, down from $10.302 million (30% of revenue) in the second quarter of 2025. For the six months ended June 30, 2026, Adjusted EBITDA was $18.847 million (27% of revenue), compared to $20.637 million (31% of revenue) in the same period of 2025.

Cash Flow

Net cash flow from operating activities for the second quarter of 2026 was $1.386 million, representing 4% of revenue, a significant improvement from net cash used in operating activities of - $1.139 million in the prior year period. This reflected a cash payment of approximately $2.9 million related to adjustment items. For the six months ended June 30, 2026, net cash provided by operating activities was $8.566 million, up from $5.507 million in the comparable 2025 period.Free cash flow for the second quarter of 2026 was $0.062 million, a substantial improvement from - $4.149 million in the second quarter of 2025. For the six months ended June 30, 2026, Free Cash Flow was $5.408 million, compared to - $0.489 million in the same period of 2025.

Dividend

The Board of Directors declared a quarterly cash dividend of $0.16 per share on July 15, 2026, payable on October 9, 2026, to shareholders of record as of September 25, 2026.

Outlook

NRC Health’s CEO stated that the second quarter results, including double-digit TRCV growth and strong bookings performance for The Governance Institute, positioned the company well for a strong second half of 2026. The company anticipates continued success as healthcare organizations seek partners to improve experience outcomes, strengthen governance, and build brand value.