HealthStream Announces Fourth Quarter & Full-Year 2023 Results; Increases Quarterly Dividend
- Strong financial results for HealthStream, Inc. (HSTM) in Q4 2023 and full-year 2023.
- Q4 2023 revenues increased by 3% to $70.6 million compared to Q4 2022.
- Operating income for Q4 2023 was $4.3 million, up 38% from Q4 2022.
- Net income in Q4 2023 rose by 87% to $4.6 million.
- Adjusted EBITDA for Q4 2023 increased by 17% to $16.0 million.
- Full-year 2023 revenues were up 5% to $279.1 million compared to 2022.
- Operating income for full-year 2023 increased by 29% to $16.0 million.
- Net income for full-year 2023 rose by 26% to $15.2 million.
- Adjusted EBITDA for full-year 2023 increased by 15% to $61.3 million.
- A 12% increase in quarterly cash dividend declared by the Board of Directors.
- 2024 outlook projects revenue between $292.0 - $296.0 million and adjusted EBITDA between $64.5 - $67.5 million.
- None.
Insights
The recent financial results of HealthStream, Inc. indicate a positive trend in the company's performance, with a 3% increase in fourth quarter revenues and a 5% increase in full-year revenues. Notably, the 38% rise in operating income and 87% surge in net income for Q4, along with a 29% and 26% increase respectively for the full year, demonstrate a robust improvement in profitability. The growth in net income is particularly impressive, nearly doubling from the previous year's quarter, which may reflect operational efficiencies and successful strategic initiatives.
From a financial analysis perspective, the company's capitalization of labor for software development suggests a strategic investment in technology to drive future growth, although it's important to note that this also leads to higher amortization expenses. The declaration of a quarterly cash dividend, with a 12% increase, could be seen as a signal of confidence in HealthStream's financial health and a commitment to delivering shareholder value.
Looking ahead, the company's 2024 guidance indicates a continued positive trajectory. However, investors should consider the potential impact of external economic factors, such as inflationary pressures and the fact that the guidance does not account for possible acquisitions or changes in the value of minority investments. These factors could introduce variability to the forecasted outcomes.
HealthStream's performance can be partially attributed to its strategic focus on the healthcare technology sector, which is experiencing growth due to increasing demand for digital solutions. The expansion into the nursing education market and the development of the hStream platform are strategic moves that broaden the company's addressable market and enhance its product ecosystem.
The Platform-as-a-Service (PaaS) model adopted by HealthStream is becoming increasingly popular in the healthcare industry, as it allows for scalability and interoperability between different applications and services. The reported 5.79 million contracted subscriptions to hStream highlight the platform's adoption and potential for recurring revenue streams. The introduction of e-commerce capabilities, targeting direct sales to healthcare professionals, represents a diversification of sales channels, which could further drive revenue growth.
It's important to monitor the competitive landscape and the adoption rates of new products and services. The company's ability to innovate and adapt to the evolving needs of healthcare providers will be critical for maintaining its growth momentum.
The financial report includes a discussion on non-GAAP financial measures, specifically adjusted EBITDA. It is crucial for stakeholders to understand that these measures exclude certain expenses and income that are included in the most comparable GAAP measures. While management believes that adjusted EBITDA provides a more reflective measure of the company's operating performance, it is essential to recognize that these are not standardized measures and may not be directly comparable to similar metrics reported by other companies.
The company's early adoption of ASU 2021-08 has implications for how contracts acquired in acquisitions are treated. This accounting update allows the company to avoid write-downs of deferred revenue to fair value, which historically has impacted reported revenue and net income. By adjusting for these write-downs in their adjusted EBITDA, HealthStream aims to provide a clearer picture of the underlying performance post-acquisition. Stakeholders should be aware of these accounting practices when evaluating the company's financial health and future prospects.
Fourth Quarter 2023
-
Revenues of
$70.6 million 3% from$68.5 million -
Operating income of
$4.3 million 38% from$3.1 million -
Net income of
$4.6 million 87% from$2.5 million -
Earnings per share (EPS) of
$0.15 $0.08 -
Adjusted EBITDA1 of
$16.0 million 17% from$13.6 million -
Board of Directors has declared a quarterly cash dividend of
$0.02 812% over the previous quarter’s dividend of$0.02 5
Full-Year 2023
-
Revenues of
$279.1 million 5% from$266.8 million -
Operating income of
$16.0 million 29% from$12.4 million -
Net income of
$15.2 million 26% from$12.1 million -
Earnings per share (EPS) of
$0.50 $0.39 -
Adjusted EBITDA of
$61.3 million 15% from$53.4 million
1 Adjusted EBITDA is a non-GAAP financial measure. A reconciliation of adjusted EBITDA to net income and disclosure regarding why we believe adjusted EBITDA provides useful information to investors is included later in this release. |
Financial Results:
Fourth Quarter 2023 Compared to Fourth Quarter 2022
Revenues for the fourth quarter of 2023 increased by
Operating income was
Net income was
Adjusted EBITDA was
At December 31, 2023, the Company had cash and cash equivalents and marketable securities of
Full-Year 2023 Compared to Full-Year 2022
For 2023, revenues were
Other Business Updates
As of December 31, 2023, we had approximately 5.79 million contracted subscriptions to hStream, our Platform-as-a-Service technology, which characterizes our single platform approach. By establishing interoperability, the hStream platform enables healthcare organizations and their respective workforces to easily connect to and gain value from the growing HealthStream ecosystem of applications, tools, and content.
On September 13, 2023, the Company announced a share repurchase program approved by the Company's Board of Directors under which the Company is authorized to repurchase of up to
On February 19, 2024, the Board approved a quarterly cash dividend under the Company's dividend policy of
Financial Outlook for 2024
The Company is providing guidance for 2024 for the measures set forth below, including adjusted EBITDA, a non-GAAP financial measure as defined later in this release. For a reconciliation of projected adjusted EBITDA to projected net income (the most comparable GAAP measure) for 2024, see the table included on page nine of this release.
|
Full-Year 2024 Guidance |
||||||||||
|
|
Low |
|
High |
|||||||
Revenue |
|
$ |
292.0 |
- |
|
$ |
296.0 |
|
million |
||
|
|
|
|
|
|
|
|
|
|
||
Adjusted EBITDA1 |
|
$ |
64.5 |
- |
|
$ |
67.5 |
|
million |
||
|
|
|
|
|
|
|
|
|
|
||
Capital Expenditures |
|
$ |
28.0 |
- |
|
$ |
30.0 |
|
million |
||
1 Adjusted EBITDA is a non-GAAP financial measure. A reconciliation of projected adjusted EBITDA to projected net income (the most comparable GAAP measure) is included later in this release. |
|||||||||||
The Company’s guidance for 2024 as set forth above reflects the Company’s assumptions regarding, among other things, expectations for new sales and renewals, and assumes that general economic conditions, including inflationary pressures, do not deteriorate. This consolidated guidance does not include the impact of any acquisitions that we may complete during 2024, gains or losses from changes in the fair value of minority investments, or impairment of long-lived assets.
Commenting on fourth quarter & full-year 2023 results, Robert A. Frist, Jr., Chief Executive Officer, HealthStream, said, “Our financial performance for full-year 2023 was strong. Compared to the prior year, in 2023 our revenues were up five percent, adjusted EBITDA was up 15 percent, operating income was up 29 percent, and net income was up 26 percent. Based on our projections and guidance, I believe we will set new records again in 2024.”
“In 2023, we expanded our addressable market to include the nation’s nursing schools and their one million nursing students. Powered by advances in our hStream platform, we also launched new e-commerce capabilities, enabling us to make direct sales to physicians, nurses, and nursing students—where we saw early positive results. These exciting developments attest to the unique value proposition that HealthStream is delivering to customers.”
A conference call with Robert A. Frist, Jr., Chief Executive Officer, Scott A. Roberts, Chief Financial Officer and Senior Vice President, and Mollie Condra, Vice President of Investor Relations and Corporate Communications, will be held on Tuesday, February 20, 2024, at 9:00 a.m. (ET). Participants may access the conference call live via webcast using this link: https://edge.media-server.com/mmc/p/wjbaqrsi. To participate via telephone, please register in advance using this link: : https://register.vevent.com/register/BI9a139cdfdfda40be87c2909549ffa8ce. A replay of the conference call and webcast will be archived on the Company’s website in the Investor Relations section under “Events & Presentations.”
Use of Non-GAAP Financial Measures
This press release presents adjusted EBITDA, a non-GAAP financial measure used by management in analyzing the Company’s financial results and ongoing operational performance. In order to better assess the Company’s financial results, management believes that net income excluding the impact of the deferred revenue write-downs associated with fair value accounting for acquired businesses (as discussed in greater detail below) and before interest, income taxes, stock-based compensation, depreciation and amortization, and changes in fair value of, including gains (losses) on the sale of, non-marketable equity investments (“adjusted EBITDA”) is a useful measure for evaluating the operating performance of the Company because adjusted EBITDA reflects net income adjusted for certain GAAP accounting, non-cash and/or non-operating items which we believe, in any such case, are not fully reflective of the underlying operating performance of our business. We also believe that adjusted EBITDA is useful to investors to assess the Company’s ongoing operating performance and to compare the Company's operating performance between periods. In addition, short-term cash incentive bonuses and certain performance-based equity awards are based on the achievement of adjusted EBITDA (as defined in applicable bonus and equity grant documentation) targets.
As noted above, the definition of adjusted EBITDA includes an adjustment for the impact of the deferred revenue write-downs associated with fair value accounting for acquired businesses. Prior to the Company early adopting ASU 2021-08 effective January 1, 2022, following the completion of any acquisition by the Company, the Company was required to record the acquired deferred revenue at fair value as defined in GAAP, which typically resulted in a write-down of the acquired deferred revenue. When the Company was required to record a write-down of deferred revenue, it resulted in lower recognized revenue, operating income, and net income in subsequent periods. Revenue for any such acquired business was deferred and was typically recognized over a one-to-two-year period following the completion of any particular acquisition, so our GAAP revenues for this one-to-two-year period would not reflect the full amount of revenues that would have been reported if the acquired deferred revenue was not written down to fair value. Management believes that including an adjustment in the definition of adjusted EBITDA for the impact of the deferred write-downs associated with fair value accounting for businesses acquired prior to the January 1, 2022 effective date of the Company's adoption of ASU 2021-08 provides useful information to investors because the deferred revenue write-down recognized in periods after an acquisition may, given the nature of this non-cash accounting impact, cause our GAAP financial results during such periods to not fully reflect our underlying operating performance and thus adjusting for this amount may assist in comparing the Company’s results of operations between periods. Following the adoption of ASU 2021-08, contracts acquired in an acquisition completed on or after January 1, 2022 are measured as if the Company had originated the contract (rather than the contract being measured at fair value) such that, for such acquisitions, the Company no longer records deferred revenue write-downs associated with acquired businesses (for acquisitions completed prior to January 1, 2022, the Company continues to record deferred revenue write-downs associated with fair value accounting for periods on and after January 1, 2022 consistent with this prior standard). Through December 31, 2023, the Company continued to include an adjustment in the definition of adjusted EBITDA for the impact of deferred revenue write-downs from business acquired prior to January 1, 2022, given the impact of such deferred revenue on our financial results.
Adjusted EBITDA is a non-GAAP financial measure and should not be considered as a measure of financial performance under GAAP. Because adjusted EBITDA is not a measurement determined in accordance with GAAP, adjusted EBITDA is susceptible to varying calculations. Accordingly, adjusted EBITDA, as presented, may not be comparable to other similarly titled measures of other companies and has limitations as an analytical tool.
This non-GAAP financial measure should not be considered a substitute for, or superior to, measures of financial performance, which are prepared in accordance with GAAP. Investors are encouraged to review the reconciliations of adjusted EBITDA to net income (the most comparable GAAP measure), which is set forth below in this release.
About HealthStream
HealthStream (Nasdaq: HSTM) is the healthcare industry’s largest ecosystem of platform-delivered workforce solutions that empowers healthcare professionals to do what they do best: deliver excellence in patient care. For more information about HealthStream, visit www.healthstream.com or call 800-521-0574.
HEALTHSTREAM, INC. |
||||||||||||
Condensed Consolidated Statements of Income |
||||||||||||
(In thousands, except per share data) |
||||||||||||
(Unaudited) |
||||||||||||
|
|
|
|
|
||||||||
|
|
Three Months Ended
|
|
Year Ended
|
||||||||
|
|
2023 |
|
2022 |
|
2023 |
|
2022 |
||||
Revenues, net |
|
$ |
70,580 |
|
$ |
68,536 |
|
$ |
279,063 |
|
$ |
266,826 |
Operating costs and expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenues (excluding depreciation and amortization) |
|
|
24,010 |
|
|
23,536 |
|
|
95,021 |
|
|
91,143 |
Product development |
|
|
11,929 |
|
|
11,807 |
|
|
45,540 |
|
|
44,277 |
Sales and marketing |
|
|
11,418 |
|
|
11,494 |
|
|
45,743 |
|
|
44,146 |
Other general and administrative expenses |
|
|
8,441 |
|
|
9,009 |
|
|
35,664 |
|
|
36,866 |
Depreciation and amortization |
|
|
10,526 |
|
|
9,611 |
|
|
41,076 |
|
|
37,945 |
Total operating costs and expenses |
|
|
66,324 |
|
|
65,457 |
|
|
263,044 |
|
|
254,377 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating income |
|
|
4,256 |
|
|
3,079 |
|
|
16,019 |
|
|
12,449 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Other income, net |
|
|
1,162 |
|
|
191 |
|
|
2,492 |
|
|
3,136 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Income before income tax provision |
|
|
5,418 |
|
|
3,270 |
|
|
18,511 |
|
|
15,585 |
Income tax provision |
|
|
828 |
|
|
819 |
|
|
3,298 |
|
|
3,494 |
Net income |
|
$ |
4,590 |
|
$ |
2,451 |
|
$ |
15,213 |
|
$ |
12,091 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income per share: |
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
$ |
0.15 |
|
$ |
0.08 |
|
$ |
0.50 |
|
$ |
0.39 |
Diluted |
|
$ |
0.15 |
|
$ |
0.08 |
|
$ |
0.50 |
|
$ |
0.39 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average shares of common stock outstanding: |
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
|
30,326 |
|
|
30,574 |
|
|
30,571 |
|
|
30,648 |
Diluted |
|
|
30,489 |
|
|
30,717 |
|
|
30,673 |
|
|
30,717 |
Dividends declared per share |
|
$ |
0.025 |
|
$ |
— |
|
$ |
0.10 |
|
$ |
— |
HEALTHSTREAM, INC. |
||||||||
Condensed Consolidated Balance Sheets |
||||||||
(In thousands) |
||||||||
(Unaudited) |
||||||||
|
|
|
|
|
||||
|
|
December 31, |
|
December 31, |
||||
|
|
2023 |
|
2022 |
||||
ASSETS |
|
|
|
|
|
|
||
Current assets: |
|
|
|
|
|
|
||
Cash and cash equivalents |
|
$ |
40,333 |
|
|
$ |
46,023 |
|
Marketable securities |
|
|
30,800 |
|
|
|
7,885 |
|
Accounts and unbilled receivables, net |
|
|
38,446 |
|
|
|
42,710 |
|
Prepaid and other current assets |
|
|
20,631 |
|
|
|
17,759 |
|
Total current assets |
|
|
130,210 |
|
|
|
114,377 |
|
|
|
|
|
|
|
|
||
Capitalized software development, net |
|
|
40,643 |
|
|
|
37,118 |
|
Property and equipment, net |
|
|
13,005 |
|
|
|
15,483 |
|
Operating lease right of use assets, net |
|
|
20,114 |
|
|
|
22,759 |
|
Goodwill and intangible assets, net |
|
|
259,410 |
|
|
|
273,951 |
|
Deferred tax assets |
|
|
246 |
|
|
|
383 |
|
Deferred commissions |
|
|
31,700 |
|
|
|
28,344 |
|
Other assets |
|
|
4,614 |
|
|
|
5,326 |
|
Total assets |
|
$ |
499,942 |
|
|
$ |
497,741 |
|
|
|
|
|
|
|
|
||
LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
|
|
|
|
|
||
Current liabilities: |
|
|
|
|
|
|
||
Accounts payable, accrued, and other liabilities |
|
$ |
34,738 |
|
|
$ |
37,744 |
|
Deferred revenue |
|
|
83,623 |
|
|
|
79,469 |
|
Total current liabilities |
|
|
118,361 |
|
|
|
117,213 |
|
Deferred tax liabilities |
|
|
16,132 |
|
|
|
17,996 |
|
Deferred revenue, noncurrent |
|
|
2,169 |
|
|
|
2,937 |
|
Operating lease liability, noncurrent |
|
|
20,247 |
|
|
|
23,321 |
|
Other long-term liabilities |
|
|
2,281 |
|
|
|
2,210 |
|
Total liabilities |
|
|
159,190 |
|
|
|
163,677 |
|
|
|
|
|
|
|
|
||
Shareholders’ equity: |
|
|
|
|
|
|
||
Common stock |
|
|
249,075 |
|
|
|
254,832 |
|
Accumulated other comprehensive loss |
|
|
(691 |
) |
|
|
(981 |
) |
Retained earnings |
|
|
92,368 |
|
|
|
80,213 |
|
Total shareholders’ equity |
|
|
340,752 |
|
|
|
334,064 |
|
Total liabilities and shareholders' equity |
|
$ |
499,942 |
|
|
$ |
497,741 |
|
HEALTHSTREAM, INC. |
||||||||
Condensed Consolidated Statements of Cash Flows |
||||||||
(In thousands) |
||||||||
(Unaudited) |
||||||||
|
||||||||
|
|
Year Ended |
||||||
|
|
December 31, |
|
December 31, |
||||
|
|
2023 |
|
2022 |
||||
Operating activities: |
|
|
|
|
|
|
||
Net income |
|
$ |
15,213 |
|
|
$ |
12,091 |
|
Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
|
|
|
||
Depreciation and amortization |
|
|
41,076 |
|
|
|
37,945 |
|
Amortization of deferred commissions |
|
|
11,495 |
|
|
|
10,599 |
|
Stock-based compensation |
|
|
4,153 |
|
|
|
3,554 |
|
Deferred income taxes |
|
|
(1,725 |
) |
|
|
710 |
|
Provision for credit losses |
|
|
1,021 |
|
|
|
385 |
|
Gain on sale of fixed assets |
|
|
— |
|
|
|
(25 |
) |
Loss on equity method investments |
|
|
384 |
|
|
|
747 |
|
Change in fair value of non-marketable equity investments |
|
|
(425 |
) |
|
|
(3,596 |
) |
Other |
|
|
(891 |
) |
|
|
3 |
|
Changes in assets and liabilities: |
|
|
|
|
|
|
||
Accounts and unbilled receivables |
|
|
3,243 |
|
|
|
(7,770 |
) |
Deferred commissions |
|
|
(14,852 |
) |
|
|
(14,931 |
) |
Prepaid and other assets |
|
|
(2,046 |
) |
|
|
2,621 |
|
Accounts payable, accrued, and other liabilities |
|
|
3,938 |
|
|
|
4,148 |
|
Deferred revenue |
|
|
3,386 |
|
|
|
4,707 |
|
Net cash provided by operating activities |
|
|
63,970 |
|
|
|
51,188 |
|
|
|
|
|
|
|
|
||
Investing activities: |
|
|
|
|
|
|
||
Business combinations, net of cash acquired |
|
|
(6,621 |
) |
|
|
(3,965 |
) |
Changes in marketable securities |
|
|
(22,018 |
) |
|
|
(2,842 |
) |
Proceeds from sale of non-marketable equity investments |
|
|
47 |
|
|
|
3,494 |
|
Proceeds from sale of fixed assets |
|
|
— |
|
|
|
26 |
|
Purchases of property and equipment |
|
|
(2,200 |
) |
|
|
(1,768 |
) |
Payments associated with capitalized software development |
|
|
(25,806 |
) |
|
|
(23,334 |
) |
Net cash used in investing activities |
|
|
(56,598 |
) |
|
|
(28,389 |
) |
|
|
|
|
|
|
|
||
Financing activities: |
|
|
|
|
|
|
||
Taxes paid related to net settlement of equity awards |
|
|
(934 |
) |
|
|
(565 |
) |
Payment of debt issuance costs |
|
|
(118 |
) |
|
|
— |
|
Repurchases of common stock |
|
|
(8,929 |
) |
|
|
(23,137 |
) |
Payment of cash dividends |
|
|
(3,058 |
) |
|
|
— |
|
Net cash used in financing activities |
|
|
(13,039 |
) |
|
|
(23,702 |
) |
|
|
|
|
|
|
|
||
Effect of exchange rate changes on cash and cash equivalents |
|
|
(23 |
) |
|
|
21 |
|
Net decrease in cash and cash equivalents |
|
|
(5,690 |
) |
|
|
(882 |
) |
Cash and cash equivalents at beginning of period |
|
|
46,023 |
|
|
|
46,905 |
|
Cash and cash equivalents at end of period |
|
$ |
40,333 |
|
|
$ |
46,023 |
|
Reconciliation of GAAP to Non-GAAP Financial Measures(1) |
||||||||||||||||
Operating Results Summary |
||||||||||||||||
(In thousands) |
||||||||||||||||
(Unaudited) |
||||||||||||||||
|
|
|
|
|
||||||||||||
|
|
Three Months Ended
|
|
Year Ended
|
||||||||||||
|
|
2023 |
|
2022 |
|
2023 |
|
2022 |
||||||||
GAAP net income |
|
$ |
4,590 |
|
|
$ |
2,451 |
|
|
$ |
15,213 |
|
|
$ |
12,091 |
|
Deferred revenue write-down |
|
|
84 |
|
|
|
44 |
|
|
|
212 |
|
|
|
267 |
|
Interest income |
|
|
(777 |
) |
|
|
(289 |
) |
|
|
(2,356 |
) |
|
|
(444 |
) |
Interest expense |
|
|
26 |
|
|
|
33 |
|
|
|
124 |
|
|
|
132 |
|
Income tax provision |
|
|
828 |
|
|
|
819 |
|
|
|
3,298 |
|
|
|
3,494 |
|
Stock-based compensation expense |
|
|
1,077 |
|
|
|
946 |
|
|
|
4,153 |
|
|
|
3,554 |
|
Depreciation and amortization |
|
|
10,526 |
|
|
|
9,611 |
|
|
|
41,076 |
|
|
|
37,945 |
|
Change in fair value of non-marketable equity investments |
|
|
(379 |
) |
|
|
— |
|
|
|
(425 |
) |
|
|
(3,596 |
) |
Adjusted EBITDA |
|
$ |
15,975 |
|
|
$ |
13,615 |
|
|
$ |
61,295 |
|
|
$ |
53,443 |
|
(1) This press release presents adjusted EBITDA, which is a non-GAAP financial measure used by management in analyzing its financial results and ongoing operational performance. |
||||||||||||||||
Reconciliation of GAAP to Non-GAAP Financial Measures |
||||||||
Financial Outlook for 2024 |
||||||||
(In thousands) |
||||||||
(Unaudited) |
||||||||
|
|
|
|
|
||||
|
|
Low |
|
High |
||||
Net income |
|
$ |
14,500 |
|
|
$ |
16,500 |
|
Interest income |
|
|
(2,400 |
) |
|
|
(2,600 |
) |
Interest expense |
|
|
100 |
|
|
|
100 |
|
Income tax provision |
|
|
5,200 |
|
|
|
5,800 |
|
Stock-based compensation expense |
|
|
4,800 |
|
|
|
5,000 |
|
Depreciation and amortization |
|
|
42,300 |
|
|
|
42,700 |
|
Adjusted EBITDA |
|
$ |
64,500 |
|
|
$ |
67,500 |
|
This press release includes certain forward-looking statements (statements other than solely with respect to historical fact), including statements regarding expectations for financial performance for 2024, our share repurchase program, and our quarterly dividend policy, 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 a result of negative economic conditions, ongoing inflationary and recessionary pressures, geopolitical instability (including as the result of the
View source version on businesswire.com: https://www.businesswire.com/news/home/20240219837664/en/
Scott A. Roberts
Chief Financial Officer
(615) 301-3182
ir@healthstream.com
Media:
Mollie Condra, Ph.D.
Vice President,
Investor Relations &
Communications
(615) 301-3237
mollie.condra@healthstream.com
Source: HealthStream, Inc.
FAQ
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