HEALTHSTREAM INC HSTM

Technology SIC 7370 - Services-Computer Programming, Data Processing, Etc. NAICS Professional, Scientific, and Technical Services › Computer Systems Design and Related Services derived Nasdaq

HealthStream's focus is and has always been on improving the quality of healthcare through the development and support of the dedicated individuals who deliver care. Like healthcare itself, our mission remains constant, but how we accomplish that mission continues to evolve and improve over time. Originally, we pioneered the use of online learning to hospitals, which began with courses specifically tailored to educate healthcare professionals and meet hospitals' required regulatory needs, and we remain a leading innovator in those areas today. Since our inception, the scope of HealthStream's Software-as-a-Service (SaaS) solutions has expanded well beyond our governance, risk, and compliance (GRC) offerings to include a diverse ecosystem of applications that optimize and support the healthcare workforce and the students preparing to enter that workforce. Today, we are characterized by our single platform strategy, which is designed to create interoperability among the various applications in our ecosystem through our proprietary hStream technology platform. Increasingly, our hStream technology platform extends artificial intelligence (AI) capabilities to the applications it powers and serves as the system of record on which healthcare workforce AI relies. We believe that our single platform strategy, as represented by hStream, is the best way to realize our mission of improving the quality of care by developing the people who deliver care, and the best way to create value for our shareholders in the process.

Last close 35.16 2026-10-23
Market cap $1.03B 2026-06-30 share count
52-week range 19.50 - 35.23

Valuation FY2025 figures against the last close

P/S3.4x
P/E57.6x
P/FCF17.2x
EV/EBITDA16.1x
Dividend yield0.4%
Diluted EPS0.61

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $304.1M$291.6M$279.1M$266.8M$256.7M$244.8M$254.1M$231.6M$214.9M$192.1M
R&D $51.0M$48.9M$45.5M$44.3M$41.7M$32.3M$29.1M$25.7M$24.1M$24.2M
Total operating expenses $283.8M$270.4M$263.0M$254.4M$248.7M$229.0M$239.4M$216.1M$205.5M$185.0M
Operating income $20.2M$21.3M$16.0M$12.4M$8.1M$15.8M$14.7M$15.5M$9.4M$7.2M
Pre-tax income $23.2M$24.8M$18.5M$15.6M$7.8M$17.8M$17.9M$16.6M$10.1M$7.8M
Income tax $4.9M$4.8M$3.3M$3.5M$1.9M$3.7M$3.7M$3.3M$1.3M$3.0M
Net income $18.3M$20.0M$15.2M$12.1M$5.8M$14.1M$15.8M$32.2M$10.0M$3.8M
EPS, basic 0.610.660.500.390.190.440.491.000.310.12
EPS, diluted 0.610.660.500.390.180.440.491.000.310.12
Shares, diluted (wtd. avg.) 30.1M30.5M30.7M30.7M31.6M32.0M32.4M32.3M32.2M32.1M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $36.2M$59.5M$40.3M$46.0M$46.9M$36.6M$131.5M$134.3M$84.8M$49.6M
Short-term investments $20.8M$37.7M$30.8M$7.9M$5.0M$9.9M$41.3M$34.5M$46.4M—
Receivables $32.2M$30.2M$34.3M$36.7M$30.3M$40.7M$27.6M$38.1M$36.7M$44.8M
Total current assets $119.7M$153.1M$130.2M$114.4M$106.8M$114.7M$224.6M$241.4M$199.7M$177.4M
Property, plant and equipment $10.7M$10.7M$13.0M$15.5M$17.9M$22.2M$26.1M$15.9M$8.1M$10.2M
Goodwill $217.5M$191.2M$191.4M$192.4M$182.5M$178.4M$102.2M$86.1M$86.1M$85.6M
Other intangibles $64.9M$55.5M$68.0M$81.6M$89.2M$100.7M$60.1M$59.4M$68.5M$78.4M
Total assets $520.4M$510.8M$499.9M$497.7M$486.8M$500.3M$489.5M$441.9M$411.1M$396.0M
Accounts payable $7.8M$6.6M$7.5M$7.3M$5.1M$9.3M$4.8M$8.5M$4.2M$3.1M
Total current liabilities $124.1M$115.7M$118.4M$117.2M$100.3M$119.4M$105.2M$106.9M$101.1M$95.0M
Retained earnings $123.6M$109.0M$92.4M$80.2M$68.1M$62.3M$48.1M$32.4M$17.5M$5.3M
Total equity $354.0M$359.4M$340.8M$334.1M$339.0M$334.1M$338.2M$318.9M$300.2M$286.1M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $63.3M$57.7M$64.0M$51.2M$42.4M$35.9M$65.7M$43.2M$46.7M$24.2M
Depreciation and amortisation $43.5M$41.2M$41.1M$37.9M$36.8M$30.2M$27.9M$24.2M$24.0M$20.4M
Stock-based compensation $8.1M$4.5M$4.2M$3.6M$5.3M$2.2M$4.2M$1.8M$1.7M$1.9M
Capital expenditure $3.7M$1.4M$2.2M$1.8M$3.4M$2.0M$22.0M$7.2M$5.5M$4.8M
Investing cash flow -$50.4M-$34.0M-$56.6M-$28.4M-$25.7M-$110.4M-$67.5M$36.6M-$11.6M-$56.7M
Financing cash flow -$36.3M-$4.5M-$13.0M-$23.7M-$6.2M-$20.5M-$916.0K-$30.3M$1.0K$46.0K
Dividends paid $3.7M$3.4M$3.1M$0$19.0K$40.0K$58.0K$32.4M——
Buybacks $30.0M$0$8.9M$23.1M$5.0M$20.0M$0———

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001437749-26-012017.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 100M 200M 300M 400M Revenue, FY2016: 192.1M Net income, FY2016: 3.8M Revenue, FY2017: 214.9M Net income, FY2017: 10M Revenue, FY2018: 231.6M Net income, FY2018: 32.2M Revenue, FY2019: 254.1M Net income, FY2019: 15.8M Revenue, FY2020: 244.8M Net income, FY2020: 14.1M Revenue, FY2021: 256.7M Net income, FY2021: 5.8M Revenue, FY2022: 266.8M Net income, FY2022: 12.1M Revenue, FY2023: 279.1M Net income, FY2023: 15.2M Revenue, FY2024: 291.6M Net income, FY2024: 20M Revenue, FY2025: 304.1M Net income, FY2025: 18.3M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $192.1M $214.9M $231.6M $254.1M $244.8M $256.7M $266.8M $279.1M $291.6M $304.1M
Gross profit — — — — — — — — — —
Net income $3.8M $10.0M $32.2M $15.8M $14.1M $5.8M $12.1M $15.2M $20.0M $18.3M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Other event Item 8.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Other event Item 8.01
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Other event Item 8.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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