HealthStream (HSTM) Financial Statements & Analysis

HealthStream (HSTM) Income Statement

HealthStream reported revenue of $304.06M in fiscal 2025 (fiscal year ended Dec 31, 2025), up 4.3% from $291.65M a year earlier. Net income was $18.34M, down 8.3% year over year, a net margin of 6.0%. Gross margin was 64.7% and operating margin 6.7%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $83.73M, up 12.5% from the same quarter a year earlier.

HealthStream Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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HealthStream, Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	304.06	291.65	279.06	266.83	256.71	244.83	254.11	231.62	247.66
Cost of Revenue	107.21	97.94	95.02	91.14	91.03	89.33	103.89	96.01	106.00
Gross Profit	196.86	193.71	184.04	175.68	165.68	155.49	150.22	135.60	141.66
Operating Expenses
Research & Development	50.98	48.89	45.54	44.28	41.66	32.31	29.11	25.74	27.90
Selling, General & Administrative	81.66	82.29	81.41	80.81	79.15	77.18	78.52	70.15	77.68
Operating Expenses	176.62	172.42	168.02	163.23	157.62	139.68	135.50	120.11	131.86
Operating Income	20.24	21.29	16.02	12.45	8.06	15.82	14.72	15.49	9.80
Other Income/Expense
Interest Income	3.34	3.83	2.36	0.44	0.00	0.00	0.00	0.00	0.00
Interest Expense	0.00	0.00	-0.12	0.00	0.00	0.00	0.00	0.00	0.00
Other Income/Expense	3.70	3.52	2.49	3.14	-0.29	2.01	3.21	1.08	0.73
Income
Income Before Tax	23.22	24.80	18.51	15.59	7.77	17.82	17.93	16.58	10.53
Income Tax Expense	4.88	4.80	3.30	3.49	1.92	3.73	3.73	3.32	0.53
Net Income	18.34	20.01	15.21	12.09	5.85	14.09	15.77	32.22	10.00
Net Income - Continuous Operations	18.34	20.01	15.21	12.09	5.85	14.09	15.77	32.22	10.00
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	38.31	66.05	35.10	31.69	44.87	46.01	42.59	39.72	33.45
EBIT	20.74	21.29	16.02	12.65	8.06	-	-	-	-
Depreciation & Amortization	43.48	41.24	19.08	19.05	36.81	30.19	27.87	24.23	24.05
Earnings Per Share
Basic EPS	1.00	1.00	-	-	-	-	-	1.00	-
Diluted EPS	1.00	1.00	1.00	-	-	-	-	1.00	-
Basic Shares Outstanding	30.02	30.39	30.57	30.65	31.53	31.96	32.37	32.26	31.86
Diluted Shares Outstanding	30.14	30.54	30.67	30.72	31.62	31.99	32.43	32.34	32.20

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About HealthStream Financial Statements

What was HealthStream's revenue in fiscal 2025?

HealthStream reported revenue of $304.06M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 4.3% from $291.65M a year earlier.

Is HealthStream profitable?

Yes. HealthStream earned net income of $18.34M in fiscal 2025, a net margin of 6.0%. In fiscal 2024 it earned $20.01M.

What is HealthStream's operating margin?

HealthStream's operating income was $20.24M on revenue of $304.06M in fiscal 2025, an operating margin of 6.7%, compared with 7.3% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition