NASDAQ$HSTM

HealthStream Inc · Q4 2023 earnings

Q4 2023 earnings · · Investor relations

Briefing

Announced fourth quarter and full-year 2023 results and increased quarterly dividend.

HealthStream's Q4 2023 saw a revenue increase of 3% to $70.6 million, operating income rose by 38% to $4.3 million, and net income increased by 87% to $4.6 million, with EPS up from $0.08 to $0.15.

  • Revenues increased by 3% to $70.6 million compared to Q4 2022.
  • Operating income increased by 38% to $4.3 million compared to Q4 2022.
  • Net income increased by 87% to $4.6 million compared to Q4 2022.
  • Earnings per share (EPS) increased to $0.15 per share (diluted) from $0.08 per share (diluted) in Q4 2022.

Headline financials

Total Revenue

$70.6M

Previous: $68.5M+3.0%
EPS (adj)

$0.15

Previous: $0.08+87.5%
Capital Expenditures

-$6.6M

Previous: $198K-3433.3%
Free Cash Flow

$13.5M

Previous: $7.91M+70.2%
Net Income

$4.6M

Previous: $2.5M+84.0%
Operating Income

$4.3M

Previous: $3.1M+38.7%
Gross Profit

$36M

Previous: $45M-19.9%
R&D Expense

$11.9M

No prior period
Stock-Based Comp

$1.08M

Previous: $945K+14.0%

Revenue & EPS history

HealthStream · Revenue · Quarterly

$70.6M

Q4 2023+3%vs Q4 2022
Beat estimate in 8 of 15 quarters(53%)
ActualEstimate

Revenue by segment

HealthStream · $3.1M total across 2 segments · Q3 2023

  • Subscription Revenues
    $3.4M
  • Professional Services
    -$300K

Forward guidance

The Company is providing guidance for 2024 for revenue and adjusted EBITDA. The company expects to set new records in 2024.

Tailwinds

  • Expectations for new sales and renewals.
  • General economic conditions, including inflationary pressures, do not deteriorate.
  • Expanded addressable market to include the nation’s nursing schools and their one million nursing students.
  • Launched new e-commerce capabilities, enabling direct sales to physicians, nurses, and nursing students.
  • Believe we will set new records again in 2024

Headwinds

  • This consolidated guidance does not include the impact of any acquisitions that we may complete during 2024.
  • This consolidated guidance does not include gains or losses from changes in the fair value of minority investments.
  • This consolidated guidance does not include impairment of long-lived assets.
  • Negative economic conditions
  • Ongoing inflationary and recessionary pressures

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2023

Historical avgQ4 2023

+0.4%

Avg return

Earnings day

-1.3%

Avg return

5 days after

-0.3%

Avg return

30 days after

49%

32 / 65 earnings

Positive

+22.1%

Q3 2014

Best reaction

-19.3%

Q1 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-5.0%-5.2%+3.6%
Q4 2025+5.7%-0.0%+0.0%
Q3 2025+2.8%-2.6%-2.4%
Q1 2025-19.3%-16.2%-14.9%
Q4 2024+0.1%+4.4%-0.8%
Q3 2024+4.3%-1.8%+8.5%
Q2 2024-3.0%-3.4%-7.3%
Q1 2024+6.3%+3.1%+9.8%
Q4 2023-1.6%-2.8%-2.8%
Q3 2023+13.6%+11.0%+16.0%
Q2 2023-1.4%-3.7%-8.1%
Q1 2023-6.9%-9.5%-12.3%
Q4 2022+4.9%+3.1%+7.0%
Q3 2022+4.6%+11.3%+14.3%
Q2 2022+4.5%+2.1%-2.0%
Q1 2022+2.2%-1.6%+4.4%
Q4 2021-17.0%-16.7%-14.7%
Q3 2021-8.8%-6.0%-10.9%
Q2 2021+0.6%-0.8%+0.2%
Q1 2021+9.2%+8.0%+18.4%
Q4 2020+0.7%+0.5%-2.6%
Q3 2020-9.4%-14.2%-9.3%
Q2 2020+0.3%+1.1%-5.6%
Q1 2020-3.4%-9.7%-4.1%
Q4 2019+0.2%+1.4%-16.1%
Q3 2019+6.3%+7.0%+4.4%
Q2 2019-0.8%+3.4%+3.5%
Q1 2019-4.8%-3.0%-5.0%
Q4 2018+3.9%+1.5%+5.8%
Q3 2018+1.8%-5.3%-15.2%
Q2 2018-6.5%-4.2%+6.2%
Q1 2018+4.8%+9.7%+17.3%
Q4 2017+6.0%+2.0%+1.9%
Q3 2017-0.3%-2.7%+2.6%
Q2 2017-12.0%-12.6%-13.5%
Q1 2017+17.3%+17.3%+18.2%
Q4 2016+0.1%+5.0%-2.8%
Q3 2016-9.5%-15.6%-2.3%
Q2 2016-3.9%-6.2%+0.1%
Q1 2016-0.8%
Q4 2015+12.9%
Q3 2015+10.8%
Q2 2015-0.6%
Q1 2015+12.1%
Q4 2014-7.9%
Q3 2014+22.1%
Q2 2014+13.9%
Q1 2014-5.7%
Q4 2013-7.2%
Q3 2013-4.5%
Q2 2013+11.2%
Q1 2013+16.9%
Q4 2012-0.2%
Q3 2012+1.9%
Q2 2012-2.9%
Q1 2011-2.1%
Q1 2012+2.0%
Q4 2009-5.1%
Q4 2011-5.1%
Q3 2010-5.8%
Q3 2011-5.8%
Q2 2011-4.4%
Q2 2010-4.4%
Q4 2010-4.4%
Q1 2010+5.6%

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