HealthStream Announces Second Quarter 2020 Results

About this update from Healthstream, Inc.

[{"type":"text","content":" NASHVILLE, Tenn.--(BUSINESS WIRE)--\nHealthStream, Inc. (Nasdaq: HSTM), a leading provider of workforce and provider solutions for the healthcare industry, announced today results for the second quarter ended June 30, 2020. In this earnings release, results for the six months ended June 30, 2020 and 2019 are presented for continuing operations only, unless otherwise indicated, as our results for the six months ended June 30, 2019 reflect a gain on the sale of our previously divested Patient Experience business included in discontinued operations. In contrast, our results for the three months ended June 30, 2020 and 2019 do not include any discontinued operations.\n\n\n\nRevenues of $60.6 million in the second quarter of 2020, down 5% from $63.8 million in the second quarter of 2019.\n\n\nOperating income of $4.3 million in the second quarter of 2020 compared to $2.3 million in the second quarter of 2019.\n\n\nNet income of $3.4 million in the second quarter of 2020, up 43% from $2.4 million in the second quarter of 2019.\n\n\nEarnings per share (EPS) of $0.11 per share (diluted) in the second quarter of 2020 compared to $0.07 per share (diluted) in the second quarter of 2019.\n\n\nAdjusted EBITDA1 of $12.0 million in the second quarter of 2020, up 2% from $11.8 million in the second quarter of 2019.\n\n\n\nFinancial Results: \n\n\nSecond Quarter 2020 Compared to Second Quarter 2019\n\n\nRevenues for the second quarter of 2020 decreased by $3.2 million, or 5 percent, to $60.6 million, compared to $63.8 million for the second quarter of 2019.\n\n\nRevenues from our Workforce Solutions segment were $48.9 million for the second quarter of 2020, compared to $52.4 million for the second quarter of 2019. Revenues from legacy resuscitation products accounted for this decline, as such products decreased by $4.8 million and were $10.7 million in the second quarter of 2020 compared to $15.5 million in the second quarter of 2019. Other workforce revenues increased by $1.3 million, representing an increase in platform and content subscriptions of $1.8 million, or 5 percent, offset by a decline in professional services revenues of $0.5 million, or 34 percent.\n\n\nRevenues from our Provider Solutions segment were $11.7 million for the second quarter of 2020, compared to $11.4 million for the second quarter of 2019. Revenue growth of $0.3 mil...

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