HIGHBuilt-inCustomer
healthcare industry customers
“10-K Item 1A: 'Substantially all of our revenue is derived from customers in the healthcare industry.'”
NRC · Concentration risk · 10-K extracted
NRC Health (NRC) concentration risks
Updated
The most significant concentration NRC Health discloses is healthcare industry customers, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: NRC Health’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 2 disclosed concentrations
HIGH1
MEDIUM0
LOW1
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
LOWOutside partyCustomer
20%
ten largest customers
“10-K Item 1A: 'Our ten largest customers collectively accounted for 20%, 17%, and 15% of our total revenue in 2025, 2024, and 2023, respectively.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-07-06NRC Health's revenue is structurally tied to a single end market: substantially all of its revenue is derived from customers in the healthcare industry, meaning demand conditions, budgets, and regulatory dynamics specific to healthcare providers are the dominant driver of the business rather than a diversified customer base spanning multiple industries. Within that healthcare-focused customer base, however, actual customer concentration is comparatively low: the ten largest customers collectively accounted for 20% of total revenue in 2025, up from 17% in 2024 and 15% in 2023. This means no small handful of accounts dominates results — the healthcare-industry dependency is the more structurally binding exposure, since it cannot be diversified away without changing the business itself, while the customer concentration, though trending upward over the three years disclosed, remains a modest share of revenue rather than a dominant one. Netting these out, an investor should watch the healthcare end-market cycle more closely than any single customer relationship, since NRC Health's revenue base is broad across individual accounts but narrow across industries.
For the engine’s reasoning on NRC’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Health Information Services
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| NRC● | NRC Health | 1 | 0 | 1 | 2 |
| BTSG | BrightSpring Health Services, I | 0 | 2 | 0 | 2 |
| EVH | Evolent Health, Inc | 0 | 1 | 3 | 4 |
| CTEV | Claritev Corporation | 0 | 1 | 1 | 2 |
| DOCS | Doximity, Inc. | 0 | 1 | 1 | 2 |
| CERT | Certara, Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.