HealthStream(HSTM) - 2025 Q1 - Quarterly Results

Financial Performance - Revenues for Q1 2025 increased by $0.7 million, or 1.0%, to $73.5 million compared to Q1 2024's $72.8 million[4] - Operating income for Q1 2025 was $4.4 million, down 23.1% from $5.7 million in Q1 2024[5] - Net income for Q1 2025 was $4.3 million, a decrease of 17.1% from $5.2 million in Q1 2024, with diluted EPS at $0.14, down from $0.17[6] - Adjusted EBITDA for Q1 2025 was $16.2 million, down 5.0% from $17.1 million in Q1 2024[6] - Net income for Q1 2025 was $4,332,000, a decrease of 17.1% from $5,227,000 in Q1 2024[27] - Adjusted EBITDA for Q1 2025 was $16,201,000, down 5.0% from $17,059,000 in Q1 2024[29] Cash and Cash Equivalents - As of March 31, 2025, the company had cash, cash equivalents, and marketable securities totaling $113.3 million[9] - Cash and cash equivalents at the end of Q1 2025 were $77,289,000, up from $52,407,000 at the end of Q1 2024, representing a 47.4% increase[27] Guidance and Projections - The updated revenue guidance for full year 2025 is between $297.5 million and $303.5 million, down from the previous range of $302.0 to $307.0 million[13] - The updated net income guidance for 2025 is between $18.6 million and $21.0 million, revised from $19.2 to $21.4 million[13] - The company projects net income for 2025 to be between $18,600,000 and $21,000,000[31] - Adjusted EBITDA guidance for 2025 is set between $68,500,000 and $72,500,000[31] Capital Expenditures and Investments - Capital expenditures for Q1 2025 were $7.9 million, with full year guidance set between $31.0 million and $34.0 million[9][13] - The company reported a net cash used in investing activities of $7,248,000 in Q1 2025, slightly higher than $7,120,000 in Q1 2024[27] Other Financial Metrics - Stock-based compensation expense for Q1 2025 was $1,104,000, slightly up from $1,060,000 in Q1 2024[29] - Depreciation and amortization for Q1 2025 was $10,755,000, compared to $10,336,000 in Q1 2024, indicating a 4.0% increase[29] - Net cash provided by operating activities increased to $27,074,000 in Q1 2025, compared to $20,938,000 in Q1 2024, reflecting a growth of 29.4%[27] Customer Contracts - The company signed one of the largest customer contracts in its history during Q1 2025[16] Exchange Rate Effects - The effect of exchange rate changes on cash and cash equivalents resulted in a gain of $7,000 in Q1 2025, compared to a loss of $40,000 in Q1 2024[27] Dividends - The company declared a quarterly cash dividend of $0.031 per share, payable on May 30, 2025[8]