NRC Health provides analytics and insights to measure and improve patient and employee experience for healthcare organizations in the United States. The company offers market experience solutions, a subscription-based services for improved tracking of awareness, perception, and consistency of healthcare brands; assessment of differentiators; and segmentation tools to evaluate the needs, wants, and behaviors of communities through assessments. It also provides patient experience solutions, a cross-continuum multi-mode digital platform that collects and measures data to improve patient experience, engagement, and loyalty; employee experience solutions, which combines health care with technology comprising engagement, pulse, lifecycle, culture of safety, and magnet RN satisfaction; and consumer experience solution that offers online reputation solutions, community insights, and cross-journey listening through nGage. In addition, the company offers Huey, an AI engine built for Human Understanding that serves as a healthcare experience management companion; and governance solutions provided through national conferences, publications, advisory services, and an online portal for not-for-profit health system boards of directors, executives, and physician leadership. Further, it provides patient experience, service recovery, care transitions, employee engagement, reputation management, rounding, and brand loyalty. The company was formerly known as National Research Corporation and changed its name to NRC Health April 2026. The company was founded in 1981 and is headquartered in Lincoln, Nebraska.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $137M | $30M | $12M | $16M | 82.9% | -4.0% | -53.2% |
| 2024 | $143M | $41M | $25M | $19M | 79.2% | -3.7% | -20.0% |
| 2023 | $149M | $47M | $31M | $22M | 63.3% | -2.0% | -2.6% |
| 2022 | $152M | $49M | $32M | $26M | 44.1% | - | - |
| 2021 | - | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 151.57 | 148.58 | 143.06 | 137.39 |
| Operating Revenue | - | 151.57 | 148.58 | 143.06 | 137.39 |
| Cost Of Revenue | - | 57.05 | 56.02 | 56.93 | 52.37 |
| Gross Profit | - | 94.52 | 92.56 | 86.13 | 85.02 |
| Operating Expense | - | 47.98 | 52.52 | 50.93 | 62.43 |
| Selling General And Administration | - | 42.70 | 46.62 | 44.91 | 54.80 |
| Total Expenses | - | 105.02 | 108.54 | 107.87 | 114.80 |
| Operating Income | - | 46.54 | 40.04 | 35.19 | 22.59 |
| Total Operating Income As Reported | - | 46.54 | 40.04 | 35.19 | 22.59 |
| EBITDA | - | 49.30 | 46.72 | 41.31 | 30.23 |
| Normalized EBITDA | - | 51.87 | 46.72 | 41.31 | 30.23 |
| EBIT | - | 44.02 | 40.82 | 35.28 | 22.61 |
| Interest Income | - | 0.17 | 0.82 | 0.12 | 0.11 |
| Interest Expense | - | 1.21 | 0.86 | 2.60 | 4.76 |
| Net Interest Income | - | -1.04 | -0.04 | -2.47 | -4.65 |
| Other Non Operating Income Expenses | - | -0.12 | -0.04 | -0.03 | -0.10 |
| Other Income Expense | - | -2.69 | -0.04 | -0.03 | -0.10 |
| Interest Income Non Operating | - | 0.17 | 0.82 | 0.12 | 0.11 |
| Interest Expense Non Operating | - | 1.21 | 0.86 | 2.60 | 4.76 |
| Net Non Operating Interest Income Expense | - | -1.04 | -0.04 | -2.47 | -4.65 |
| Pretax Income | - | 42.82 | 39.96 | 32.69 | 17.84 |
| Tax Provision | - | 11.02 | 8.99 | 7.91 | 6.24 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.67 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 31.80 | 30.97 | 24.78 | 11.60 |
| Net Income From Continuing And Discontinued Operation | - | 31.80 | 30.97 | 24.78 | 11.60 |
| Net Income From Continuing Operation Net Minority Interest | - | 31.80 | 30.97 | 24.78 | 11.60 |
| Net Income | - | 31.80 | 30.97 | 24.78 | 11.60 |
| Net Income Common Stockholders | - | 31.78 | 30.96 | 24.78 | 11.29 |
| Net Income Including Noncontrolling Interests | - | 31.80 | 30.97 | 24.78 | 11.60 |
| Normalized Income | - | 33.70 | 30.97 | 24.78 | 11.60 |
| Diluted NI Availto Com Stockholders | - | 31.78 | 30.96 | 24.78 | 11.29 |
| Basic Average Shares | - | 24.92 | 24.54 | 23.70 | 22.38 |
| Diluted Average Shares | - | 25.05 | 24.67 | 23.74 | 22.40 |
| Reconciled Depreciation | - | 5.28 | 5.90 | 6.02 | 7.62 |
| Reconciled Cost Of Revenue | - | 57.05 | 56.02 | 56.93 | 52.37 |
| Total Unusual Items | 0 | -2.57 | - | - | - |
| Total Unusual Items Excluding Goodwill | 0 | -2.57 | - | - | - |
| Special Income Charges | 0 | 0 | - | - | - |
| Gain On Sale Of Security | - | -2.57 | - | - | - |
| Depreciation Amortization Depletion Income Statement | - | 5.28 | 5.90 | 6.02 | 7.62 |
| Depreciation And Amortization In Income Statement | - | 5.28 | 5.90 | 6.02 | 7.62 |
| Otherunder Preferred Stock Dividend | - | 0.02 | 0.01 | 0 | 0.31 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| NRC Healththis co. | NRC | $445M | 38.37 | 31.82 | 82.9% | 17.20 |
| Weave Communications, Inc. | WEAV | $459M | -16.37 | 5.57 | -34.1% | -42.33 |
| Editas Medicine, Inc. | EDIT | $459M | -2.87 | 16.82 | -586.6% | -2.22 |
| Myriad Genetics, Inc. | MYGN | $443M | -1.21 | 1.20 | -99.4% | -1.52 |
| Varex Imaging Corporation | VREX | $441M | - | 0.93 |
| - |
| - |
| - |
| -14.9% |
| 973.79 |
| Emergent BioSolutions Inc. | EBS | $435M | 8.28 | 0.83 | 10.1% | 3.37 |
| Evolus, Inc. | EOLS | $435M | -8.42 | -18.81 | 223.5% | -23.79 |
| Rezolute, Inc. | RZLT | $434M | -5.84 | 2.68 | -45.9% | -4.28 |
| Neurogene Inc. | NGNE | $434M | -4.81 | 1.64 | -34.1% | -3.91 |
| Peer Median | - | -4.81 | 1.42 | -34.1% | -3.07 | |