National Research Corp. Files 2023 Annual Report (10-K)

TL;DR

<b>National Research Corp. reported $31.0M in revenue and $6.8M in net income for FY2023.</b>

AI Summary

NATIONAL RESEARCH CORP (NRC) filed a Annual Report (10-K) with the SEC on February 27, 2024. Total revenue for the fiscal year ended December 31, 2023, was $31,002,919. Net income for the fiscal year ended December 31, 2023, was $6,783,032. Earnings per share (EPS) for the fiscal year ended December 31, 2023, was $0.48. Total assets as of December 31, 2023, were $110,000,000. Total debt as of December 31, 2023, was $0.

Why It Matters

For investors and stakeholders tracking NATIONAL RESEARCH CORP, this filing contains several important signals. The company's financial performance in FY2023 shows a slight decrease in net income compared to the previous year, indicating potential challenges in profitability or increased operating expenses. The absence of total debt ($0) suggests a strong balance sheet and financial stability, which could be attractive to investors and lenders.

Risk Assessment

Risk Level: low — NATIONAL RESEARCH CORP shows low risk based on this filing. The company has minimal debt and a history of profitability, indicating low financial risk.

Analyst Insight

Consider analyzing the revenue and net income trends over the past 3-5 years to identify growth drivers or areas for improvement.

Financial Highlights

revenue

31,002,919

total Assets

110,000,000

total Debt

0

net Income

6,783,032

eps

0.48

Key Numbers

• 31,002,919 — Total Revenue (Fiscal year ended December 31, 2023)
• 6,783,032 — Net Income (Fiscal year ended December 31, 2023)
• 0.48 — EPS (Fiscal year ended December 31, 2023)
• 110,000,000 — Total Assets (As of December 31, 2023)
• 0 — Total Debt (As of December 31, 2023)

Key Players & Entities

• NATIONAL RESEARCH CORP (company) — Filer name
• 20231231 (date) — Conformed period of report
• 20240227 (date) — Filed as of date
• LINCOLN (location) — Business address city
• NE (location) — Business address state
• DE (location) — State of incorporation

FAQ

Industry Context

National Research Corporation operates in the commercial physical and biological research sector.

Regulatory Implications

The filing is a 10-K annual report under the Securities Exchange Act of 1934.

What Investors Should Do

1. Review the detailed financial statements for revenue breakdown and expense analysis.
2. Investigate any disclosed risk factors, even if categorized as low.
3. Compare key financial metrics with industry peers for competitive analysis.

Year-Over-Year Comparison

The filing is a 10-K for the fiscal year ending December 31, 2023, providing updated financial information compared to previous filings.

Filing Documents

• nrc20231231_10k.htm (10-K) — 1724KB
• ex_627992.htm (EX-21) — 3KB
• ex_627993.htm (EX-23) — 2KB
• ex_627994.htm (EX-31.1) — 13KB
• ex_627995.htm (EX-31.2) — 13KB
• ex_627996.htm (EX-32) — 8KB
• ex_627997.htm (EX-97) — 65KB
• graph23.jpg (GRAPHIC) — 61KB
• 0001437749-24-005690.txt (&nbsp;) — 9787KB
• nrc-20231231.xsd (EX-101.SCH) — 73KB
• nrc-20231231_cal.xml (EX-101.CAL) — 80KB
• nrc-20231231_def.xml (EX-101.DEF) — 534KB
• nrc-20231231_lab.xml (EX-101.LAB) — 517KB
• nrc-20231231_pre.xml (EX-101.PRE) — 581KB
• nrc20231231_10k_htm.xml (XML) — 1808KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 7 Item 1B. Unresolved Staff Comments 15 Item 1C. Cybersecurity 15 Item 2.

Properties

Properties 16 Item 3.

Legal Proceedings

Legal Proceedings 16 Item 4. Mine Safety Disclosures 16 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 17 Item 6. [Reserved] 18 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 19 Item 7A. Quantitative and Qualitative Disclosure About Market Risk 26 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 26 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 56 Item 9A.

Controls and Procedures

Controls and Procedures 56 Item 9B. Other Information 56 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 56 PART III Item 10. Directors, Executive Officers and Corporate Governance 57 Item 11.

Executive Compensation

Executive Compensation 57 Item 12.

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

Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters 57 Item 13. Certain Relationships and Related Transactions, and Director Independence 58 Item 14. Principal Accountant Fees and Services 58 PART IV Item 15. Exhibits 59 Item 16. Form 10-K Summary 60

Signatures

Signatures 62 i Table of Contents PART I Item 1.

Business

Business Special Note Regarding Forward-Looking Statements Certain matters discussed in this Annual Report on Form 10-K are "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements can generally be identified as such because the context of the statement includes phrases such as National Research Corporation, doing business as NRC Health ("NRC Health," the "Company," "we," "our," "us" or similar terms), "believes," "expects," "may," "could," "anticipates," "estimates," "plans," "intends," or the use of words such as "would," "will," "may," "could," "goal," "focus," or "should," or other words of similar import. Similarly, statements that describe our future plans, objectives or goals are also forward-looking statements. In this Annual Report on Form 10-K, statements regarding the value and utility of, and market demand for, our service offerings, future opportunities for growth with respect to new and existing clients, our future ability to compete and the types of firms with which we will compete, future consolidation in the healthcare industry, future adequacy of our liquidity sources, future revenue sources, future revenue growth, future revenue estimates used to calculate recurring contract value, the expected impact of economic factors, including interest rates and inflation, future capital expenditures including, without limitation, our headquarters renovation costs, and the timing, amount, and sources of cash to fund such capital expenditures, future stock repurchases and dividends, the expected impact of pending claims and contingencies, the future outcome of uncertain tax positions, our future use of owned and leased real property, and the expected impact of global conflicts, among others, are forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties which could cause actual results or outcomes to differ materially f

View Full Filing

View this 10-K filing on SEC EDGAR