10-K · February 27, 2026
HealthStream emphasizes a single-platform SaaS strategy (hStream) and AI-enabled product innovation (including the Competency Suite) while completing four acquisitions since 2023, most recently Virsys12 in October 2025…
Earnings analysis · 10-Q
HSTM earnings analysis
Filed May 6, 2026 · Our reading of the company's report
The latest report
HealthStream, Inc. reported Q1 2026 results with revenues of $81.2 million, exceeding expectations and representing an 11% increase year-over-year. EPS also surpassed estimates at $0.20, up from $0.14 a year prior,…
Read full summary
HealthStream, Inc. reported Q1 2026 results with revenues of $81.2 million, exceeding expectations and representing an 11% increase year-over-year. EPS also surpassed estimates at $0.20, up from $0.14 a year prior, driven by strong demand for the company's SaaS applications and successful acquisitions.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.2
What stood out
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Revenue Growth of 11% Year-over-Year
Revenue increased to $81.2 million, up from $73.5 million in Q1 2025.
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Operating Income Surged 71.6%
Operating income rose to $7.5 million from $4.4 million a year ago.
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EPS Outperformance
Diluted EPS reached $0.20, an increase from $0.14 in Q1 2025.
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Strong Adjusted EBITDA Performance
Adjusted EBITDA grew to $20.1 million, up 24.1% from $16.2 million in Q1 2025.
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Improvement in Gross Margin
Gross margin improved to 66.4% in Q1 2026, compared to 65.1% in Q1 2025.
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Launch of New Share Repurchase Program
A new $10 million share repurchase program was authorized as of March 13, 2026.
What to watch
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Healthcare Policy Changes
Macroeconomic challenges and potential policy changes may impact customer purchasing decisions.
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Dependence on Acquisitions
Growth is partially dependent on recent acquisitions, which may face integration challenges.
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Negative Working Capital
As of March 31, 2026, negative working capital improved to -$3.5 million, but could impact liquidity.
Management's outlook
The Company reaffirmed its 2026 revenue guidance of $323 million to $330 million.
Earlier filings 4
10-K · February 28, 2025
HealthStream emphasizes a single-platform SaaS strategy (hStream) and recent product innovation (the AI/ML-driven “Competency Suite”), supported by four acquisitions since 2022 including two asset acquisitions in…
10-Q · October 24, 2024
HealthStream reported Q3 revenue of $73,095,000 (up $2,756,000 or ~3.9% YoY from $70,339,000) and diluted EPS of $0.19 (vs. $0.13 YoY). Operating income expanded to $6,498,000 (operating margin ~8.9% vs ~6.9% a year…
10-Q · April 25, 2024
HealthStream reported a quarter of sequential and year-over-year improvement: revenue rose to $72,760,000 (from $68,946,000 a year ago), operating income nearly doubled to $5,690,000 (from $2,891,000), and diluted EPS…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.