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HealthStream (HSTM) investor relations material

HealthStream Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary5 Aug, 2025

Executive summary

  • Achieved record quarterly revenue of $74.4M in Q2 2025, up 4% year-over-year, with net income rising 29.3% to $5.4M and operating income up 33.4% to $5.9M.

  • Adjusted EBITDA grew 11.3% to $17.6M; diluted EPS increased to $0.18 from $0.14 year-over-year.

  • Board authorized a $25M share repurchase, with $18.1M completed in Q2 and the remainder in July; quarterly dividend of $0.031 per share declared.

  • Launched new AI-powered learning platform HLX, now live with 47,000 users and generating revenue.

  • Sublease of office space began in April 2025, generating $0.7M in Q2 and expected to provide $3.2M annually.

Financial highlights

  • Q2 2025 revenues: $74.4M (+4% YoY); six months: $147.9M (+2.5% YoY); subscription revenue up 4.2%, professional services down 3%.

  • Q2 2025 net income: $5.4M (+29% YoY); diluted EPS: $0.18 (up from $0.14); adjusted EBITDA: $17.6M (+11% YoY).

  • Gross margin for Q2 2025: 64.5%–65% due to higher cloud hosting and royalty costs.

  • Free cash flow YTD improved to $14.2M; cash flows from operations up 17.2% to $32.1M.

  • Cash, cash equivalents, and marketable securities totaled $90.6M at June 30, 2025; no debt.

Outlook and guidance

  • Full-year 2025 revenue guidance: $297.5M–$303.5M; adjusted EBITDA expected at $68.5M–$72.5M.

  • Net income guidance raised to $19.5M–$22.4M; capital expenditures projected at $31M–$34M.

  • 39% of $618M in remaining performance obligations expected to be recognized in the next 12 months.

  • Gross margin expected to hover around 65% for the remainder of the year.

  • Guidance excludes impacts from potential acquisitions or asset impairments.

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Frequently asked questions

HealthStream Inc provides workforce and provider solutions for the healthcare industry. Its software-as-a-service offerings support employee training, credentialing, performance evaluation, and scheduling for healthcare organizations. The company serves hospitals, clinics, and other medical providers across the United States. The company is headquartered in Nashville, Tennessee, and its shares are listed on the NASDAQ.

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