HealthStream(HSTM) - 2024 Q4 - Annual Results

Financial Performance - Revenues for Q4 2024 increased by $3.7 million, or 5.2$74.2 million compared to Q4 2023[3] - Operating income for Q4 2024 was $4.7 million, up 10.2$4.3 million in Q4 2023[4] - Net income for Q4 2024 was $4.9 million, up 6.5$4.6 million in Q4 2023[6] - Adjusted EBITDA for Q4 2024 was $16.2 million, up 1.3$16.0 million in Q4 2023[7] - Full-year 2024 revenues were $291.6 million, an increase of 4.5$279.1 million in 2023[9] - Full-year 2024 operating income increased by 32.9% to $21.3 million compared to$16.0 million in 2023[9] - HealthStream reported Q4 2024 revenues of $74,235,000, a 2.3$70,580,000 in Q4 2023[31] - For the full year 2024, revenues reached $291,646,000, up 4.5$279,063,000 in 2023[31] - Adjusted EBITDA for Q4 2024 was $16,179,000, compared to$15,975,000 in Q4 2023, reflecting a 1.3% increase[37] - HealthStream's net income for the full year 2024 was $20,007,000, a 31.2$15,213,000 in 2023[31] Cash and Assets - HealthStream's total assets increased to $510,766,000 as of December 31, 2024, compared to$499,942,000 at the end of 2023[33] - Cash and cash equivalents rose to $59,469,000 in Q4 2024, up from$40,333,000 in Q4 2023[35] - Deferred revenue as of December 31, 2024, was $84,227,000, slightly up from$83,623,000 in 2023[33] Dividends - The board declared a quarterly cash dividend of $0.031 per share, reflecting a 10.7$0.028 per share in Q4 2024, compared to $0.025 per share in Q4 2023[31] Acquisitions - The company completed acquisitions of Total Clinical Placement System and The Clinical Hub, with purchase prices of up to$1.65 million and $0.6 million, respectively[11] Future Guidance - Guidance for 2025 includes projected revenues of$302.0 million to $307.0 million and adjusted EBITDA of$70.0 million to $74.0 million[19] - The company provided a 2025 financial outlook with projected adjusted EBITDA between$70,000,000 and $74,000,000[39] Risks and Forward-Looking Statements - The company highlighted potential risks and uncertainties affecting future results, including economic conditions and geopolitical instability[40] - The company filed its Annual Report on Form 10-K for the year ended December 31, 2023, on February 26, 2024, detailing various risks[40] - Forward-looking statements are based on management's beliefs and assumptions, which may not be realized[40] - The company cautioned against placing undue reliance on forward-looking statements, as many factors are beyond its control[40] - HealthStream's management emphasized the importance of understanding the risks associated with their projections[40] - The company has no obligation to update or revise forward-looking statements after the date of the release[40] - The potential impact of inflationary conditions and changes in U.S. policy were noted as significant factors[40] - The press release includes a disclaimer regarding the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995[40] - HealthStream's quarterly cash dividend policy may be modified, suspended, or canceled based on the Board's discretion[40] Recognition - HealthStream's Learning Center was ranked 1 in healthcare software by G2, highlighting the success of its platform strategy[12]