RCM Technologies revenue increases 84.0% in Q1; healthcare leads growth


RCM Technologies Inc. (NASDAQ: RCMT) reported revenue rose 84.0% in its fiscal first quarter ended April 2 with growth led by its specialty healthcare staffing segment.

“We continue to build on the strong foundation established and drive execution across our business units,” Executive Chairman Bradley Vizi said.

(US$ thousands) Q1 2022 Q1 2021 % change
Revenue $81,961 $44,549 84.0%
Gross profit   $23,420 $10,850 115.9%
Gross margin 28.6% 24.4%  
Net income/loss $6,520 $1,007 547.5%

RCM’s specialty healthcare segment provides staffing of health information management professionals, nurses, paraprofessionals, physicians and therapists.

It also provides staffing in engineering, life sciences and IT.

Revenue by segment

(US$ thousands) Q1 2022 Q1 2021 % change
Engineering $19,898 $14,466 37.6%
Specialty healthcare $52,184 $21,137 146.9%
IT $9,879 $8,946 10.4%

Share price and market cap

Shares in RCM were up 24.19% to $14.63 as of 12:13 p.m. Eastern time; shares set a new 52-week high today, according to FT.com. The company had a market cap of $118.9 million.