Pulling SEC filings + quote and writing the call…

HEALTHSTREAM INC
Next earnings Aug 3, 2026 · consensus $0.18 EPS, $82.6M rev
Last earnings +2.6% on 2026-05-04
Durable healthcare-SaaS cash machine, but FY25 earnings reversed and a 43x P/E already prices in the recovery.
Sources: SEC EDGAR (CIK 0001095565, latest 10-Q filed 2026-05-06) · EODHD · analysis by claude-code · as of 6/25/2026, 3:09:54 PM.
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Middling fundamentals and a rich price (~83% above fair value) leave little margin of safety — a wait-and-see.
HSTM is a slow-and-steady healthcare-SaaS workhorse, not a growth story. Revenue inched up 4.3% to $304M in FY2025 — the fifth straight year of mid-single-digit growth — but net income actually fell 8.3% to $18.3M and diluted EPS slipped to $0.61 from $0.66. Operating margin compressed to 6.7% from ~7.3%, breaking a multi-year up-trend. MD&A is candid about the mix shift behind this: subscription growth in Competency Suite, CredentialStream and ShiftWizard (plus Virsys12 + MissionCare acquisitions) is being partially offset by declines in 'legacy credentialing, scheduling, and content program solutions' and softer demand for 'health equity and belonging content' as customers cut elective spend.
The risks, catalysts, 12-month price target and the cited SEC figures behind this rating — with Pro.
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| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $257M | $267M | $279M | $292M | $304M |
| Gross profit | — | — | — | — | — |
| Operating income | $8.05M | $12.4M | $16.0M | $21.3M | $20.2M |
| Net income | $5.84M | $12.1M | $15.2M | $20.0M | $18.3M |
| Diluted EPS | $0.18 | $0.39 | $0.50 | $0.66 | $0.61 |
| Net margin | 2.3% | 4.5% | 5.5% | 6.9% | 6.0% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Annual meeting results disclosed; routine shareholder voting outcomes.
Executive/director change disclosed under item 5.02.
Q1 2026 10-Q filed; subscription growth continuing on hStream platform.
Q1 2026 earnings released; subscription-led SaaS growth pattern continued.
2026 proxy: routine director slate, executive comp, auditor ratification.
Entered material definitive agreement; likely financing or partnership deal.
FY25 10-K: revenue $304M (+4%), net income $18.3M (-8%), EPS $0.61 (-8%).
FY25 earnings: revenue +4% but EPS fell to $0.61 from $0.66, net income -8%.
Disclosed MissionCare acquisition (~$24.6M cash + $4M stock) bolstering platform.
1047 tracked peers · median
Disclosed under the STOCK Act
Self-reported periodic transaction reports (STOCK Act). Amounts are disclosed ranges; a trade may be a spouse's. Disclosures lag the trade by up to ~45 days. Source: House Clerk + Senate eFD.
Source: EODHD. Yield = trailing-12-month dividends ÷ price.
Dates from 8-K (Item 2.02); beat/miss = reported EPS vs consensus (Finnhub, recent quarters); move = prior close → close on/after.
Recent news tone vs the market's typical (which skews positive). A soft signal, not a recommendation.
| 2026-06-08 | Beard Charles Jr. Director | Exercise | 1.25K | |
| 2026-06-08 | DENT THOMPSON Director | Exercise | 3.15K | |
| 2026-06-08 | Jahangir Amir Alex Director | Exercise | 3.15K | |
| 2026-06-08 | MCLAREN JEFFREY L Director | Exercise | 3.15K | |
| 2026-06-08 | RAPPUHN TERRY ALLISON Director | Exercise | 3.15K | |
| 2026-06-08 | REBROVICK LINDA Director | Award | 3.15K | |
| 2026-06-08 | Taylor Tate Deborah Director | Exercise | 3.15K | |
| 2026-06-08 | GORDON FRANK Director | Exercise | 3.15K |