HealthStream Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>HealthStream Inc. reported $19.5 million in revenue and $16.6 million in net income for fiscal year 2023.</b>

AI Summary

HEALTHSTREAM INC (HSTM) filed a Annual Report (10-K) with the SEC on February 26, 2024. Total revenue for the fiscal year ended December 31, 2023, was $19,503,000. Net income for the fiscal year ended December 31, 2023, was $16,603,000. Earnings per share (EPS) for the fiscal year ended December 31, 2023, was $0.10. Total assets as of December 31, 2023, were $127,009,000. Total debt as of December 31, 2023, was $0.

Why It Matters

For investors and stakeholders tracking HEALTHSTREAM INC, this filing contains several important signals. The filing provides a comprehensive overview of HealthStream's financial performance and business operations for the fiscal year 2023, crucial for investors assessing the company's health and future prospects. Key financial metrics such as revenue, net income, and debt levels are detailed, offering insights into the company's profitability and financial stability.

Risk Assessment

Risk Level: low — HEALTHSTREAM INC shows low risk based on this filing. The company has minimal debt, indicating a low financial risk profile.

Analyst Insight

Investors should review the detailed financial statements and risk factors to understand HealthStream's operational performance and market position.

Financial Highlights

revenue

19,503,000

operating Margin

30.3

total Assets

127,009,000

total Debt

0

net Income

16,603,000

eps

0.10

gross Margin

30.6

Key Numbers

• 19,503,000 — Total Revenue (Fiscal year ended December 31, 2023)
• 16,603,000 — Net Income (Fiscal year ended December 31, 2023)
• 0.10 — EPS (Fiscal year ended December 31, 2023)
• 127,009,000 — Total Assets (As of December 31, 2023)
• 0 — Total Debt (As of December 31, 2023)
• 30.3 — Operating Margin (Fiscal year ended December 31, 2023)
• 30.6 — Gross Margin (Fiscal year ended December 31, 2023)

Key Players & Entities

• HEALTHSTREAM INC (company) — Filer name
• 2023-12-31 (date) — Conformed period of report
• 2024-02-26 (date) — Filed as of date
• 500 11TH AVENUE NORTH SUITE 1000 (address) — Business address
• NASHVILLE (location) — City in business address
• TN (location) — State in business address
• 37203 (postal_code) — ZIP code in business address
• 6153013100 (phone_number) — Business phone

FAQ

Industry Context

HealthStream Inc. operates in the healthcare technology sector, providing solutions for healthcare organizations.

Regulatory Implications

The filing adheres to SEC regulations for annual reports (Form 10-K), ensuring transparency for investors.

What Investors Should Do

1. Analyze the detailed revenue and net income figures for fiscal year 2023.
2. Examine the company's asset and debt structure as of December 31, 2023.
3. Review any disclosed risk factors or management discussion sections for potential challenges.

Year-Over-Year Comparison

This filing represents the annual report for fiscal year 2023, providing year-end financial data.

Key Financial Figures

• $0.00 — ch registered Common Stock (Par Value $0.00) HSTM Nasdaq Global Select Market
• $4.5 — the healthcare industry reached nearly $4.5 trillion in 2022, or 17.3% of the U.S.
• $1.4 — increased 2.2% in 2022 to reach nearly $1.4 trillion, the rate of increase was slig

Filing Documents

• hstm20231231_10k.htm (10-K) — 1407KB
• ex_598030.htm (EX-10.5) — 17KB
• ex_598032.htm (EX-21.1) — 5KB
• ex_598033.htm (EX-23.1) — 4KB
• ex_598034.htm (EX-31.1) — 10KB
• ex_598035.htm (EX-31.2) — 10KB
• ex_598036.htm (EX-32.1) — 5KB
• ex_598037.htm (EX-32.2) — 5KB
• carrot01.jpg (GRAPHIC) — 1KB
• graph23.jpg (GRAPHIC) — 93KB
• 0001437749-24-005530.txt (&nbsp;) — 7488KB
• hstm-20231231.xsd (EX-101.SCH) — 66KB
• hstm-20231231_cal.xml (EX-101.CAL) — 67KB
• hstm-20231231_def.xml (EX-101.DEF) — 461KB
• hstm-20231231_lab.xml (EX-101.LAB) — 435KB
• hstm-20231231_pre.xml (EX-101.PRE) — 506KB
• hstm20231231_10k_htm.xml (XML) — 966KB

Risk Factors

Risk Factors 11 Item 1B. Unresolved Staff Comments 24 Item 1C. Cybersecurity 24 Item 2.

Properties

Properties 25 Item 3.

Legal Proceedings

Legal Proceedings 25 Item 4. Mine Safety Disclosures 25 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 26 Item 6. Reserved 28 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 28 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 37 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 38 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 62 Item 9A.

Controls and Procedures

Controls and Procedures 62 Item 9B. Other Information 63 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 63 PART III Item 10. Directors, Executive Officers and Corporate Governance 64 Item 11.

Executive Compensation

Executive Compensation 64 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 64 Item 13. Certain Relationships and Related Transactions, and Director Independence 64 Item 14. Principal Accounting Fees and Services 64 PART IV Item 15. Exhibits, Financial Statement Schedules 65 Item 16. Form 10-K Summary 66

Signatures

Signatures 67 Table of Contents PART I This Annual Report on Form 10-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, among others, those statements including the words "expects," "anticipates," "intends," "believes," "may," "will," "should," "continue," and similar language or the negative of such terms or other comparable terminology. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause our actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by the forward-looking statements included herein. Factors that might cause or contribute to such differences include, but are not limited to, those discussed in the section Risk Factors in Item 1A of this Annual Report on Form 10-K and elsewhere in this document. In addition, factors that we are not currently aware of, or that we currently deem immaterial, could harm our future operating results. You should carefully review the risks described in other documents HealthStream files from time to time with the Securities and Exchange Commission. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this Annual Report on Form 10-K. HealthStream undertakes no obligation to publicly release any revisions to the forward-looking statements to reflect future events or circumstances after the date of this document.

Business

Item 1. Business OVERVIEW AND HISTORY HealthStream's focus is and has always been on improving the quality of healthcare through the development of the dedicated individuals who deliver care. Like healthcare itself, our mission remains constant, but how we accomplish that mission continues to evolve and improve over time. Originally, we pioneered the use of online learning to hospitals, which began with courses specifically tailored to educate healthcare professionals and meet hospitals' required regulatory needs, and we remain a leading innovator in those areas today. Since our inception, the scope of HealthStream's Software-as-a-Service (SaaS) solutions has expanded well beyond our governance, risk, and compliance (GRC) offerings to include a diverse ecosystem of applications that optimize and support the healthcare workforce and the students preparing to enter that workforce. Today, we are characterized by our single platform strategy, which is designed to create interoperability among the various applications in our ecosystem through our proprietary hStream technology platform. We believe that our single platform strategy, as represented by hStream, is the best way to realize our mission of improving the quality of care by developing the people who deliver care, and the best way to create value for our shareholders in the process. For healthcare organizations—our primary customers—HealthStream's solutions help to effectively onboard, retain, engage, educate, manage, and develop workforce talent; meet rigorous GRC requirements; optimize staff scheduling and capacity management; and automate the management of medical staff credentialing, privileging, and enrollment. For healthcare professionals and students—our primary end users—HealthStream's solutions help them to professionally develop their knowledge and skills, manage and fulfill their required continuing education and certifications, manage their schedules, including swapping and filling shifts, engage

View Full Filing

View this 10-K filing on SEC EDGAR