NUTX

MKT CAP:$646M

Nutex Health, Inc.

Market Cap

$646M

Healthcare·Medical - Healthcare Information Services·🇺🇸 United States·NASDAQ

Healthcare·Medical·🇺🇸·NASDAQ

Stock Price

$109.30-$38.89 (-26.24%)

Apr 23, 2026

Company Details

Nutex Health, Inc. operates as a technology-enabled healthcare services company. It operates through two divisions: Hospital division and Population Health Management division. The Hospital division implements and operates health care model...

CEO

Thomas T. Vo

IPO Date

Apr 4, 2022

Website

www.nutexhealth.com

Key Metrics TTM

Revenue

$65M

+86122.2% YoY

Net Income

-$8M

EPS (Diluted)

-$1.98

Free Cash Flow

-$2M

Revenue / Share

$14.77

Gross Margin

18.9%

Operating Margin

-11.1%

Net Margin

-12.2%

FCF Margin

-2.8%

P/S

9.9x

P/E

—

Earnings Reports

Q4 2023

May 4, 2026

PENDING

Q3 2023

Nov 9, 2023

$63MEPS -$1.25

Q1 2021

May 24, 2021

$2MEPS -$1.12

Q3 2020

Nov 16, 2020

$350.0K+1889.7%EPS $0.34

Q2 2020

Aug 19, 2020

$378.6K+2531.5%EPS $0.05

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 10	$493.2K	$94.4K	-$446.7K
Q1 11	$542.1K	$281.7K	-$170.7K
Q2 11	$699.0K	$255.8K	-$194.8K
Q3 11	$601.3K	$219.2K	-$239.4K
Q2 17	$19.0K	$19.0K	-$1M
Q3 17	$27.0K	$11.1K	-$711.9K
Q1 18	$12.1K	$12.1K	-$412.0K
Q2 18	$11.6K	$11.6K	-$489.0K
Q3 18	$30.4K	$14.7K	-$367.0K
Q1 19	$13.5K	$13.5K	-$367.1K
Q2 19	$14.4K	$14.4K	-$374.7K
Q3 19	$17.6K	$17.6K	-$363.8K
Q2 20	$378.6K	$26.0K	-$2M
Q3 20	$350.0K	$139.1K	-$628.0K
Q1 21	$2M	$426.9K	-$4M
Q3 23	$63M	$12M	-$821.2K

Valuation

Quarter	P/S	P/E
Q4 10	—	—
Q1 11	—	—
Q2 11	—	—
Q3 11	11009.1x	—
Q2 17	13813.1x	—
Q3 17	19098.6x	5841.2x
Q1 18	38993.1x	6569.1x
Q2 18	368736.8x	7695.1x
Q3 18	316968.6x	5870.3x
Q1 19	379865.9x	—
Q2 19	367566.7x	—
Q3 19	338655.9x	—
Q2 20	60630.0x	—
Q3 20	33806.4x	24739.7x
Q1 21	9314.5x	—
Q3 23	1.9x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 10	-$299.1K	-$299.1K
Q3 10	-$299.1K	-$299.1K
Q1 11	-$173.1K	-$176.3K
Q1 18	-$273.2K	-$273.2K
Q1 19	-$101.7K	-$101.7K
Q1 21	-$567.1K	-$567.1K
Q3 23	$2M	-$907.2K

Capital Expenditures

Quarter	CapEx
Q1 10	$0
Q3 10	$0
Q1 11	$3.2K
Q1 18	$0
Q1 19	$0
Q1 21	$0
Q3 23	$3M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 17	-96.1%	+34.9%
Q3 17	-95.0%	+3.7%
Q1 18	-98.3%	-52.6%
Q2 18	-98.1%	-40.4%
Q3 18	+59.9%	-68.6%
Q1 19	-49.8%	-48.5%
Q2 19	+18.7%	-8.3%
Q3 19	+51.4%	-23.8%
Q2 20	+1144.7%	+418.6%
Q3 20	+2486.7%	+157.0%
Q1 21	+13901.1%	+1484.3%
Q3 23	+356442.6%	+16563.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 10	$0	—
Q3 10	$0	—
Q1 11	$0	0.0%
Q1 18	$0	0.0%
Q1 19	$1.0K	7.6%
Q1 21	$4M	191.3%
Q3 23	$49.2K	0.1%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q4 10	—	$541.1K	—	—
Q1 11	—	$452.4K	—	—
Q2 11	—	$450.7K	—	—
Q3 11	—	$458.6K	—	—
Q2 17	—	$1M	—	—
Q3 17	—	$723.0K	—	—
Q1 18	—	$234.3K	—	—
Q2 18	—	$310.9K	—	—
Q3 18	—	$207.8K	—	—
Q1 19	—	$190.3K	—	—
Q2 19	—	$199.0K	—	—
Q3 19	—	$187.3K	—	—
Q2 20	$314.3K	—	—	$1M
Q3 20	$73.8K	—	—	$693.4K
Q1 21	$76.7K	$4M	$9.7K	—
Q3 23	—	$8M	—	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$13M	$0	$13M
Q2 22	$48M	$0	$48M
Q3 22	$37M	$0	$37M
Q4 22	$34M	$0	$34M
Q1 23	$33M	$0	$33M
Q2 23	$33M	$0	$33M
Q3 23	$27M	$0	$27M
Q4 23	$22M	$0	$22M
Q1 24	$30M	$0	$30M
Q2 24	$41M	$0	$41M
Q3 24	$47M	$0	$47M
Q4 24	$44M	$0	$44M
Q1 25	$85M	$0	$85M
Q2 25	$97M	$0	$97M
Q3 25	$166M	$0	$166M
Q4 25	$186M	$0	$186M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 10	1M	—	—
Q1 11	1M	0.0%	—
Q2 11	1M	0.0%	—
Q3 11	1M	0.0%	—
Q2 17	3M	+145.0%	+145.0%
Q3 17	4M	+21.3%	+197.1%
Q1 18	6M	+70.3%	+406.2%
Q2 18	6M	+5.3%	+432.8%
Q3 18	7M	+14.2%	+148.4%
Q1 19	5M	-25.4%	+52.7%
Q2 19	5M	0.0%	-10.4%
Q3 19	5M	-16.6%	-29.0%
Q2 20	5M	+2.6%	-36.2%
Q3 20	5M	+11.3%	-4.7%
Q1 21	4M	-23.7%	-27.3%
Q3 23	4M	+12.2%	-2.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 10	$44.8K	11
Q1 11	$49.3K	11
Q2 11	$63.5K	11
Q3 11	$54.7K	11
Q2 17	$2.7K	7
Q3 17	$3.9K	7
Q1 18	$2.0K	6
Q2 18	$1.9K	6
Q3 18	$5.1K	6
Q1 19	$2.3K	6
Q2 19	$2.4K	6
Q3 19	$2.9K	6
Q2 20	$31.5K	12
Q3 20	$29.2K	12
Q1 21	$143.9K	14
Q3 23	$3M	24

Revenue / Employee