HealthStream Announces Expansion of Share Repurchase Program

Rhea-AI Summary

HealthStream (Nasdaq: HSTM) has expanded its share repurchase program, authorizing up to an additional $10 million for repurchasing outstanding shares. This follows the prior $20 million repurchased since the program's inception on November 30, 2021. Repurchases will be conducted based on market conditions and regulatory compliance, with a termination date set for March 13, 2023, or once the budget is depleted. The program aims to enhance shareholder value through increased earnings per share.

Positive

• Expansion of share repurchase program by an additional $10 million.
• Previous repurchase of $20 million indicates confidence in financial health.
• Potential increase in shareholder value and EPS as a result of buyback.

Negative

• None.

NASHVILLE, Tenn.--(BUSINESS WIRE)-- HealthStream (Nasdaq: HSTM), a leading provider of workforce and provider solutions for the healthcare industry, today announced that its Board of Directors has approved an expansion of its share repurchase program for the Company’s common stock, under which the Company may repurchase up to an additional $10 million of outstanding shares of common stock. The Company previously repurchased the $20 million of common stock authorized under the share repurchase program announced on November 30, 2021.

Repurchases under the authorization may be made from time to time in the open market, including under a Rule 10b5-1 plan, through privately negotiated transactions, or otherwise. In addition, any repurchases under the authorization will be subject to prevailing market conditions, liquidity and cash flow considerations, applicable securities laws requirements (including under Rule 10b-18 and Rule 10b5-1 of the Securities Exchange Act of 1934, as applicable), and other factors. The share repurchase program will terminate on the earlier of March 13, 2023 or when the maximum dollar amount has been expended. The share repurchase program does not require the Company to acquire any amount of shares and may be suspended or discontinued at any time.

About HealthStream

HealthStream (Nasdaq: HSTM) is dedicated to improving patient outcomes through the development of healthcare organizations’ greatest asset: their people. Our unified suite of solutions is contracted by healthcare organizations across the U.S. for workforce development, training & learning management, nurse & staff scheduling, clinical education, credentialing, privileging, provider enrollment, performance assessment, and managing simulation-based education programs. HealthStream’s corporate office is in Nashville, Tennessee. For more information, visit http://www.healthstream.com or call 800-521-0574.

This press release includes certain forward-looking statements (statements other than solely with respect to historical fact) that involve risks and uncertainties regarding HealthStream. These statements are based upon management’s beliefs, as well as assumptions made by and data currently available to management. This information has been, or in the future may be, included in reliance on the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. The Company cautions that forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by the forward-looking statements, including as the result of risks referenced in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, filed on February 28, 2022, and in the Company’s other filings with the Securities and Exchange Commission from time to time. The Company undertakes no obligation to update or revise any such forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220314005806/en/

Mollie Condra, Ph.D.

HealthStream

(615)-301-3237

mollie.condra@healthstream.com

Source: HealthStream

FAQ

What is the recent share repurchase program expansion by HealthStream?

HealthStream has expanded its share repurchase program by adding up to $10 million for repurchasing its common stock.

When was the previous share repurchase program announced for HealthStream?

The previous share repurchase program, totaling $20 million, was authorized on November 30, 2021.

What factors influence HealthStream's share repurchase decisions?

Repurchases will depend on market conditions, liquidity, cash flow, and compliance with applicable securities laws.

What is the termination date for HealthStream's share repurchase program?

The program will terminate on March 13, 2023, or when the maximum amount is exhausted.

How does HealthStream's share repurchase program affect shareholders?

The share repurchase program is aimed at enhancing shareholder value and potentially increasing earnings per share.