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HealthStream Announces Second Quarter 2022 Results
NASHVILLE, Tenn.--(BUSINESS WIRE)-- (July 25, 2022)—HealthStream, Inc. (Nasdaq: HSTM), a leading provider of workforce and provider solutions for the
About this update from Healthstream, Inc.
[{"type":"text","content":" NASHVILLE, Tenn.--(BUSINESS WIRE)--\n(July 25, 2022)—HealthStream, 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, 2022.\n\n\nRevenues of $65.6 million in the second quarter of 2022, up 1% from $64.8 million in the second quarter of 2021\n\n\nOperating income of $3.0 million in the second quarter of 2022, down 14% from $3.4 million in the second quarter of 2021\n\n\nNet income of $3.1 million in the second quarter of 2022, up 26% from $2.4 million in the second quarter of 2021\n\n\nEarnings per share (EPS) of $0.10 per share (diluted) in the second quarter of 2022 compared to $0.08 per share (diluted) in the second quarter of 2021\n\n\nAdjusted EBITDA1 of $13.1 million in the second quarter of 2022, down 10% from $14.5 million in the second quarter of 2021\n\n\nCompleted the acquisition of the remaining ownership interest of CloudCME, LLC, a Nashville-based healthcare technology company, on May 18, 2022.\n\n\n\n1 Adjusted EBITDA is a non-GAAP financial measure. A reconciliation of adjusted EBITDA to net income and disclosure regarding why we believe adjusted EBITDA provides useful information to investors is included later in this release.\n\n\nFinancial Results:\n\nSecond Quarter 2022 Compared to Second Quarter 2021\n\nRevenues for the second quarter of 2022 increased by $0.8 million, or one percent, to $65.6 million, compared to $64.8 million for the second quarter of 2021.\n\nRevenues from our Workforce Solutions segment were $52.5 million for the second quarter of 2022, an increase of one percent compared to $52.2 million for the second quarter of 2021. The workforce segment experienced growth in several product categories, including contributions from recent acquisitions, partially offset by declines from the legacy resuscitation business, as well as lower installed software license sales from the legacy portion of our Scheduling application suite.\n\nRevenues from our Provider Solutions segment were $13.2 million for the second quarter of 2022, an increase of four percent compared to $12.7 million for the second quarter of 2021. This revenue growth of $0.5 million was primarily attributable to subscription revenues.\n\nPrior to the Company adopting ASU 2021-08 on January 1, 2022, generally accepted accoun...