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]

Core Viewpoint - Baidu Inc. (BIDU) is currently viewed as a better value opportunity compared to HealthStream (HSTM) based on various valuation metrics and earnings outlook improvements [1][3][7] Valuation Metrics - BIDU has a forward P/E ratio of 9.09, significantly lower than HSTM's forward P/E of 51.23 [5] - The PEG ratio for BIDU is 2.17, while HSTM's PEG ratio is 4.27, indicating BIDU's expected earnings growth is more favorably priced [5] - BIDU's P/B ratio stands at 0.81, compared to HSTM's P/B of 2.85, suggesting BIDU is undervalued relative to its book value [6] Zacks Rank and Value Grades - BIDU holds a Zacks Rank of 2 (Buy), while HSTM has a Zacks Rank of 3 (Hold), indicating a stronger earnings outlook for BIDU [3][7] - Based on valuation metrics, BIDU has a Value grade of A, whereas HSTM has a Value grade of D, further supporting the conclusion that BIDU is the superior investment option [6]

Core Viewpoint - HealthStream (HSTM) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Impact - The Zacks rating system tracks the Zacks Consensus Estimate, which reflects EPS estimates from sell-side analysts, and changes in these estimates are strongly correlated with stock price movements [4][6]. - An increase in earnings estimates typically leads to higher fair value calculations by institutional investors, resulting in buying or selling pressure that affects stock prices [4]. Company Performance and Outlook - The upgrade for HealthStream suggests an improvement in its underlying business, which is expected to drive the stock price higher as investors respond positively to the earnings outlook [5][10]. - For the fiscal year ending December 2025, HealthStream is projected to earn $0.66 per share, with a 2.6% increase in the Zacks Consensus Estimate over the past three months [8]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a strong historical performance, particularly for Zacks Rank 1 stocks, which have generated an average annual return of +25% since 1988 [7][9]. - HealthStream's upgrade to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, indicating a strong potential for market-beating returns in the near term [10].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 000-27701 HEALTHSTREAM, INC. (Exact name of registrant as specified in its charter) Tennessee 62-1443555 (State or other jurisdict ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2021 ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File No.: 000-27701 HealthStream, Inc. (Exact name of registrant as specified in its charter) Tennessee 62-1443555 (State or other jurisdiction of incorporation or organization) ...

Washington, D.C. 20549 UNITED STATES SECURITIES AND EXCHANGE COMMISSION FORM 10-Q (Mark One) ☒ Quarterly Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2021 ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File No.: 000-27701 HealthStream, Inc. (Exact name of registrant as specified in its charter) Tennessee 62-1443555 (State or other jurisdiction of incorporation or organization) 500 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 000-27701 HEALTHSTREAM, INC. (Exact name of registrant as specified in its charter) incorporation or organization) Tennessee 62-14 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Exact name of registrant as specified in its charter) ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 (Mark One) Commission File No.: 000-27701 ☒ Quarterly Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 HealthStream, Inc. FORM 10-Q For the quarterly period ended September 30, 2019 Tennessee 62-1443555 (State or other jurisdiction of incorporation or organization) ...