HSTM on Nasdaq

HEALTHSTREAM INC

HealthStream’s focus is and has always been on improving the quality of healthcare through the development and support of the dedicated individuals who deliver care.4 From its latest annual report

Price unavailable

Last updated Oct 19, 2026.

Overview

Compare with Health Catalyst, Inc., Eventbrite or PubMatic, Inc., or pick any stock.

  • TickerHSTM on Nasdaq2
  • IndustryServices-Computer Programming, Data Processing, Etc.2
  • HeadquartersNashville, United States2
  • Incorporated inTN3
  • Business address500 11Th Avenue North, Suite 850, Nashville, Tn3
  • Filer categoryAccelerated filer3
  • Legal formCorporation2
  • LEI529900OJ88H8635JNH642
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered address209 10th Avenue, South, Suite 450, 37203 Nashville, United States2
  • Registered withBusiness Services (Department of State), 0002330532

HealthStream’s focus is and has always been on improving the quality of healthcare through the development and support of the dedicated individuals who deliver care. Like healthcare itself, our mission remains constant, but how we accomplish that mission continues to evolve and improve over time. Originally, we pioneered the use of online learning to hospitals, which began with courses specifically tailored to educate healthcare professionals and meet hospitals' required regulatory needs, and we remain a leading innovator in those areas today. Since our inception, the scope of HealthStream’s Software-as-a-Service (SaaS) solutions has expanded well beyond our governance, risk, and compliance (GRC) offerings to include a diverse ecosystem of applications that optimize and support the healthcare workforce and the students preparing to enter that workforce. Today, we are characterized by our…4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

6.7%Operating margin5
6.0%Net margin5
4.3%Revenue growth, 20255
5.2%Return on equity5
$59.6MFree cash flow5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Subscription Services brought in 97% of the revenue HEALTHSTREAM INC broke down this way in fiscal 2025.

  1. Subscription Services$293.6M597%up 5% from 2024
  2. Professional Services$10.4M53%down 8% from 2024
Products and services by year
Products and services202320242025
Subscription Services$267.9M$280.3M$293.6M
Professional Services$11.1M$11.3M$10.4M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Research and development17¢$51.0M
  • Other costs76¢$229.9M
  • Income tax2¢$4.9M
  • Profit6¢$18.3M

Out of $304.1M in revenue.5

Where each dollar of operating cash went, fiscal 2025

  • Capital spending6¢$3.7M
  • Dividends paid6¢$3.7M
  • Share buybacks47¢$30.0M
  • Kept or used elsewhere41¢$25.9M

Out of $63.3M of cash from operations.5

Financial statements

Revenue67895$304.1M in 2025+20% since 2019
0$100.0M$200.0M$300.0M$400.0M2019: $254.1M$254.1M20192020: $244.8M$244.8M2020−4%2021: $256.7M$256.7M2021+5%2022: $266.8M$266.8M2022+4%2023: $279.1M$279.1M2023+5%2024: $291.6M$291.6M2024+5%2025: $304.1M$304.1M2025+4%
Operating income67895$20.2M in 2025+37% since 2019
0$10.0M$20.0M$30.0M2019: $14.7M$14.7M20192020: $15.8M$15.8M2020+7%2021: $8.1M$8.1M2021−49%2022: $12.4M$12.4M2022+55%2023: $16.0M$16.0M2023+29%2024: $21.3M$21.3M2024+33%2025: $20.2M$20.2M2025−5%
Net income67895$18.3M in 2025+16% since 2019
0$10.0M$20.0M$30.0M2019: $15.8M$15.8M20192020: $14.1M$14.1M2020−11%2021: $5.8M$5.8M2021−59%2022: $12.1M$12.1M2022+107%2023: $15.2M$15.2M2023+26%2024: $20.0M$20.0M2024+32%2025: $18.3M$18.3M2025−8%

Every line of the income statement as filed: the last 3 fiscal years, latest first.5

Period ending2025-12-312024-12-312023-12-31
Revenues, net$304.1M$291.6M$279.1M
Cost of revenues (excluding depreciation and amortization)$107.2M$97.9M$95.0M
Product development$51.0M$48.9M$45.5M
Sales and marketing$49.4M$47.2M$45.7M
General and administrative expenses$32.8M$35.1M$35.7M
Depreciation and amortization$43.5M$41.2M$41.1M
Total operating costs and expenses$283.8M$270.4M$263.0M
Operating income$20.2M$21.3M$16.0M
Interest income$3.3M$3.8M$2.4M
Other (expense) income, net-$358.0K-$318.0K$136.0K
Income before income tax provision$23.2M$24.8M$18.5M
Income tax provision$4.9M$4.8M$3.3M
Net income$18.3M$20.0M$15.2M
Basic (in dollars per share)$0.61$0.66$0.50
Diluted (in dollars per share)$0.61$0.66$0.50
Basic (in shares)30.0M shares30.4M shares30.6M shares
Diluted (in shares)30.1M shares30.5M shares30.7M shares
Dividends declared per share (in dollars per share)$0.12$0.11$0.10

Compare HEALTHSTREAM INC with another company

Leadership

Who has led HEALTHSTREAM INC, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (26)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive OfficerJeffrey D. Cunningham named Dec 30, 202546
  • DirectorCharles E. Beard, Jr. named Dec 30, 202546
  • DirectorDeborah Taylor Tate named Dec 30, 202546

Timeline

  1. Feb 21, 2006New chief executive Robert A. Frist Jr. becomes CEO13

Filings

522 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 54 major events, 401 insider forms, 14 large holders, 1 private raises, 32 other. The latest 20:

  1. Sep 29, 20264 EDGAR
  2. Sep 29, 20264 EDGAR
  3. Sep 29, 20264 EDGAR
  4. Sep 29, 20264 EDGAR
  5. Sep 29, 20264 EDGAR
  6. Sep 29, 20264 EDGAR
  7. Sep 29, 20264 EDGAR
  8. Sep 29, 20264 EDGAR
  9. Sep 23, 20268-K EDGAR
  10. Sep 22, 20264 EDGAR
  11. Sep 22, 20264 EDGAR
  12. Sep 22, 20264 EDGAR
  13. Sep 22, 20264 EDGAR
  14. Sep 22, 20264 EDGAR
  15. Sep 22, 20264 EDGAR
  16. Sep 22, 20264 EDGAR
  17. Sep 22, 20264 EDGAR
  18. Sep 21, 2026SCHEDULE 13D EDGAR
  19. Sep 15, 20264 EDGAR
  20. Sep 15, 20268-K EDGAR

The 522 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

22 open-market trades by officers, directors and large owners since October 2021: 2 buys and 20 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 14, 2026FRIST ROBERT A JRCEO and ChairmanSale144,068$29.50$4.3MForm 4
Jul 6, 2026REBROVICK LINDADirectorSale6,000$29.00$174.0KForm 4
Jun 1, 2026REBROVICK LINDADirectorSale2,000$25.00$50.0KForm 4
May 28, 2026REBROVICK LINDADirectorSale2,000$25.00$50.0KForm 4
May 20, 2026O'Hara Kevin PExecutive Vice PresidentSale3,000$24.08$72.2KForm 4
Dec 10, 2025Cunningham JeffChief Technology OfficerSale2,100$24.09$50.6KForm 4
Dec 8, 2025O'Hara Kevin PExecutive Vice PresidentSale2,000$24.26$48.5KForm 4
Nov 26, 2025Taylor Tate DeborahDirectorSale1,580$25.46$40.2KForm 4
Aug 27, 2025O'Hara Kevin PExecutive Vice PresidentSale2,000$27.97$55.9KForm 4
Feb 27, 2025Fenstermacher ScottSenior Vice PresidentSale2,000$33.15$66.3KForm 4
Aug 29, 2024Taylor Tate DeborahDirectorSale1,400$28.53$39.9KForm 4
Aug 26, 2024Fenstermacher ScottSenior Vice PresidentSale1,000$28.99$29.0KForm 4
Aug 7, 2024O'Hara Kevin PExecutive Vice PresidentSale3,000$28.03$84.1KForm 4
May 1, 2024Fenstermacher ScottSenior Vice PresidentSale1,000$26.19$26.2KForm 4
Feb 26, 2024Sousa MichaelExecutive Vice PresidentSale15,000$27.25$408.8KForm 4
Feb 22, 2024Fenstermacher ScottSenior Vice PresidentSale1,000$26.59$26.6KForm 4
Feb 22, 2024Coady Trisha LExecutive Vice PresidentSale7,000$26.34$184.4KForm 4
Apr 27, 2023PEARSON J EDWARDPresident and COOSale15,150$24.96$378.1KForm 4
Feb 24, 2023Taylor Tate DeborahDirectorSale3,374$25.26$85.2KForm 4
Jul 29, 2022MCLAREN JEFFREY LDirectorSale5,000$24.17$120.8KForm 4

All 22 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Dec 15, 2025Raised $4 million in a private offering of equity Form D: 1 investor so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.4,080,144$111.2M0.0%+228,215
Dimensional Fund Advisors LP1,557,981$42.5M0.0%+101,938
Copeland Capital Management, LLC1,248,384$34.0M0.7%−28,355
First Eagle Investment Management, LLC1,183,796$32.3M0.0%+758,098
Vanguard Capital Management LLC1,045,298$28.5M0.0%−2,629
State Street Corp1,004,170$27.4M0.0%+8,613
Vanguard Portfolio Management LLC880,543$24.0M0.0%−41,303
Two Sigma Investments, LP805,584$22.0M0.0%−38,836
Geode Capital Management, LLC779,219$21.2M0.0%+64,472
Goldman Sachs Group Inc665,917$18.1M0.0%+391,459
Jpmorgan Chase & Co635,565$17.2M0.0%+181,827
Arrowstreet Capital, Limited Partnership433,651$11.8M0.0%+55,706
Renaissance Technologies LLC423,000$11.5M0.0%−54,848
Morgan Stanley382,954$10.4M0.0%+13,968
Northern Trust Corp379,711$10.3M0.0%+18,034
Creative Planning285,852$7.8M0.0%+67,666
Lazard Asset Management LLC240,950$6.6M0.0%+83,742
Aqr Capital Management LLC240,232$6.5M0.0%+181,390
Charles Schwab Investment Management Inc237,710$6.5M0.0%−27,934
Bank of New York Mellon Corp227,493$6.2M0.0%+3,856
Kennedy Capital Management LLC191,504$5.2M0.1%−3,737
Nuveen, LLC189,904$5.2M0.0%+138,153
Envestnet Asset Management Inc189,539$5.2M0.0%−10,092
Fmr LLC166,812$4.5M0.0%−8,338
Sei Investments Co157,794$4.3M0.0%+11,394

13F reports cover disclosed long positions in U.S. stocks only.

Sources

The numbers on this page point here. Each one links to the record it came from.

  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
  6. 6
  7. 7
  8. 8
  9. 9
  10. 10
  11. 11
  12. 12
  13. 13
  14. 14
  15. 15
  16. 16
  17. 17
  18. 18
  19. 19
  20. 20
  21. 21
  22. 22
  23. 23
  24. 24
  25. 25
  26. 26
  27. 27
  28. 28
  29. 29
  30. 30
  31. 31
  32. 32
  33. 33
  34. 34
  35. 35
  36. 36
  37. 37
  38. 38
  39. 39
  40. 40
  41. 41
  42. 42
  43. 43
  44. 44
  45. 45
  46. 46
  47. 47
  48. 48
  49. 49