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HealthStream Announces Fourth Quarter & Full-Year 2022 Results, Initiation of Quarterly Cash Dividend, and Operational & Leadership Updates
NASHVILLE, Tenn.--(BUSINESS WIRE)-- HealthStream, Inc. (Nasdaq: HSTM), a leading healthcare technology platform for workforce solutions, announced today
About this update from Healthstream, Inc.
[{"type":"text","content":" NASHVILLE, Tenn.--(BUSINESS WIRE)--\nHealthStream, Inc. (Nasdaq: HSTM), a leading healthcare technology platform for workforce solutions, announced today results for the fourth quarter and full-year ended December 31, 2022.\n\nFourth Quarter 2022\n\n\nRevenues of $68.5 million, up 7% from $64.3 million in the fourth quarter of 2021\n\n\nOperating income of $3.1 million, up from an operating loss of $0.5 million in the fourth quarter of 20211\n\n\nNet income of $2.5 million, up from a net loss of $0.4 million in the fourth quarter of 20211\n\n\nEarnings per share (EPS) of $0.08 per share (diluted), compared to a loss of $0.01 per share (diluted) in the fourth quarter of 20211\n\n\nAdjusted EBITDA2 of $13.6 million, up 13% from $12.0 million in the fourth quarter of 2021\n\n\nCompleted the acquisition of Electronic Education Documentation System, LLC (d/b/a “eeds”), a North Carolina-based healthcare technology company, on December 31, 2022\n\n\nFull-Year 2022\n\n\nRevenues of $266.8 million, up 4% from $256.7 million in 2021\n\n\nOperating income of $12.4 million, up 55% from $8.1 million in 20211\n\n\nNet income of $12.1 million, up 107% from $5.8 million in 20211\n\n\nEarnings per share (EPS) of $0.39 per share (diluted) in 2022, compared to $0.18 per share (diluted) in 20211\n\n\nAdjusted EBITDA of $53.4 million, up 1% from $52.7 million in 2021\n\n\n2023 Updates\n\n\nOperational and management updates made, affirming single platform strategy\n\n\nBoard of Directors adopts a quarterly cash dividend policy, with an initial quarterly dividend of $0.025 per share, with the initial dividend being payable on April 28, 2023 to holders of record on April 17, 2023, and expected aggregate fiscal 2023 dividends of approximately $3.0 million\n\n\n\n\n1 Operating income, net income, and EPS for the three and twelve months ended December 31, 2021 were negatively impacted by the charge associated with a stock grant by the Company to over 1,000 employees in the amounts of $2.4 million, $1.9 million, and $0.06 per share (diluted), respectively, that was facilitated by the prior contribution of personally owned shares of common stock by Robert A. Frist, Jr., our CEO, to the Company, as discussed further below.\n\n\n\n\n\n2 Adjusted EBITDA is a non-GAAP financial measure. A reconciliation of adjusted EBITDA to net income and disclosure regardin...