HealthStream(HSTM) - 2024 Q3 - Quarterly Results

Financial Performance - Revenues for Q3 2024 were $73.1 million, a 3.9% increase from $70.3 million in Q3 2023[2] - Operating income rose to $6.5 million, up 33.6% from $4.9 million in Q3 2023[3] - Net income increased to $5.7 million, a 48.0% rise from $3.9 million in Q3 2023[4] - Earnings per share (EPS) for Q3 2024 were $0.19, compared to $0.13 in Q3 2023[4] - Adjusted EBITDA for Q3 2024 was $17.7 million, up 9.0% from $16.2 million in Q3 2023[4] - Year-to-date revenues for 2024 reached $217.4 million, a 4.3% increase over $208.5 million in the same period of 2023[5] - Revenues for Q3 2024 reached $73,095,000, a 3.4% increase from $70,339,000 in Q3 2023[15] - Net income for Q3 2024 was $5,725,000, compared to $3,867,000 in Q3 2023, representing a 47.9% increase[15] - Operating income for Q3 2024 increased to $6,498,000, up from $4,863,000 in Q3 2023, a growth of 33.5%[15] - Adjusted EBITDA for Q3 2024 was $17,702,000, an increase from $16,245,000 in Q3 2023, representing an 8.9% growth[18] Future Projections - The company expects 2024 revenue guidance between $290.0 million and $292.0 million[8] - Projected net income for 2024 is estimated to be between $18.5 million and $19.5 million[8] - Adjusted EBITDA is expected to range from $66,000,000 to $67,500,000 for 2024[19] - Interest income is anticipated to be between $(3,700,000) and $(3,800,000)[19] - Income tax provision is estimated at $5,400,000 to $5,700,000[19] - Stock-based compensation expense is projected to be between $4,400,000 and $4,500,000[19] - Depreciation and amortization expenses are expected to be in the range of $41,300,000 to $41,500,000[19] Cash and Equity - Cash and cash equivalents at the end of Q3 2024 were $57,489,000, up from $40,333,000 at the end of 2023, a 42.5% increase[16] - Total assets as of September 30, 2024, were $502,831,000, compared to $499,942,000 at the end of 2023, showing a modest growth[16] - The total shareholders' equity increased to $355,481,000 as of September 30, 2024, compared to $340,752,000 at the end of 2023, a growth of 4.3%[16] - Net cash provided by operating activities for the nine months ended September 30, 2024, was $46,500,000, down from $50,158,000 for the same period in 2023[17] Dividends - The company declared a quarterly cash dividend of $0.028 per share, payable on November 15, 2024[6] - The company declared dividends of $0.028 per share in Q3 2024, up from $0.025 per share in Q3 2023[15] Risks and Uncertainties - The company cautions that forward-looking statements involve risks and uncertainties that may affect actual results[20] - The quarterly cash dividend policy may be modified, suspended, or canceled based on the Board's discretion[20] - The company emphasizes that many factors influencing future results are beyond its control[20] - Management's views reflected in forward-looking statements are only valid as of the date of the report[20]