$HSTM
HealthStream Inc

2015 Q4 Form 10-Q Financial Statement

#000119312515360248 Filed on October 30, 2015

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2014 Q3
Revenue $55.87M $53.84M $44.53M
YoY Change 23.22% 20.91% 32.28%
Cost Of Revenue $23.63M $23.13M $19.12M
YoY Change 21.99% 20.98% 35.64%
Gross Profit $32.23M $30.71M $25.41M
YoY Change 24.1% 20.85% 29.86%
Gross Profit Margin 57.69% 57.04% 57.07%
Selling, General & Admin $17.95M $15.55M $13.64M
YoY Change 25.17% 13.98% 30.69%
% of Gross Profit 55.69% 50.64% 53.69%
Research & Development $7.560M $6.195M $4.211M
YoY Change 71.43% 47.11% 31.18%
% of Gross Profit 23.46% 20.17% 16.57%
Depreciation & Amortization $4.850M $4.639M $2.815M
YoY Change 62.21% 64.8% 38.06%
% of Gross Profit 15.05% 15.11% 11.08%
Operating Expenses $30.36M $6.195M $17.85M
YoY Change 39.65% -65.3% 30.81%
Operating Profit $1.870M $4.325M $4.741M
YoY Change -55.79% -8.77% 22.22%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $170.0K $28.00K $49.00K
YoY Change 466.67% -42.86% 6.52%
Pretax Income $2.050M $4.353M $4.790M
YoY Change -51.88% -9.12% 22.04%
Income Tax $240.0K $1.739M $1.354M
% Of Pretax Income 11.71% 39.95% 28.27%
Net Earnings $1.810M $2.614M $3.436M
YoY Change -31.7% -23.92% 49.65%
Net Earnings / Revenue 3.24% 4.86% 7.72%
Basic Earnings Per Share $0.08 $0.12
Diluted Earnings Per Share $56.51K $0.08 $0.12
COMMON SHARES
Basic Shares Outstanding 31.65M shares 31.64M shares 27.61M shares
Diluted Shares Outstanding 32.03M shares 28.05M shares

Balance Sheet

Concept 2015 Q4 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $149.0M $144.8M $116.4M
YoY Change 23.14% 24.4% 11.17%
Cash & Equivalents $82.01M $67.44M $64.93M
Short-Term Investments $67.00M $77.40M $51.50M
Other Short-Term Assets $8.169M $6.649M $3.566M
YoY Change 41.63% 86.46% 11.58%
Inventory
Prepaid Expenses
Receivables $36.35M $33.12M $28.18M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $209.5M $201.7M $162.9M
YoY Change 20.0% 23.78% 15.85%
LONG-TERM ASSETS
Property, Plant & Equipment $12.47M $11.85M $9.007M
YoY Change 32.08% 31.53% 14.45%
Goodwill $83.07M $84.00M $42.65M
YoY Change 98.2% 96.93% 25.29%
Intangibles
YoY Change
Long-Term Investments $3.600M $3.700M
YoY Change 100.0%
Other Assets $927.0K $1.752M $984.0K
YoY Change -54.49% 78.05% 19.42%
Total Long-Term Assets $170.0M $173.0M $80.40M
YoY Change 105.72% 115.23% 25.32%
TOTAL ASSETS
Total Short-Term Assets $209.5M $201.7M $162.9M
Total Long-Term Assets $170.0M $173.0M $80.40M
Total Assets $379.6M $374.7M $243.3M
YoY Change 47.54% 53.99% 18.81%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.616M $2.251M $799.0K
YoY Change -2.88% 181.73% -56.76%
Accrued Expenses $7.003M $7.672M $11.76M
YoY Change -3.06% -34.77% 55.77%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $89.08M $85.47M $74.44M
YoY Change 15.3% 14.83% 36.97%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.058M $766.0K $710.0K
YoY Change -60.06% 7.89% 10.42%
Total Long-Term Liabilities $1.058M $766.0K $710.0K
YoY Change -60.06% 7.89% 10.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $89.08M $85.47M $74.44M
Total Long-Term Liabilities $1.058M $766.0K $710.0K
Total Liabilities $90.14M $86.24M $75.15M
YoY Change 12.8% 14.76% 36.66%
SHAREHOLDERS EQUITY
Retained Earnings $1.591M -$220.0K -$9.677M
YoY Change -122.63% -97.73% -49.56%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $280.3M $278.8M $161.2M
YoY Change
Total Liabilities & Shareholders Equity $379.6M $374.7M $243.3M
YoY Change 47.54% 53.99% 18.81%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income $1.810M $2.614M $3.436M
YoY Change -31.7% -23.92% 49.65%
Depreciation, Depletion And Amortization $4.850M $4.639M $2.815M
YoY Change 62.21% 64.8% 38.06%
Cash From Operating Activities $9.400M $6.390M $6.580M
YoY Change 68.46% -2.89% -44.47%
INVESTING ACTIVITIES
Capital Expenditures -$4.020M -$3.720M -$1.960M
YoY Change 28.43% 89.8% -9.68%
Acquisitions
YoY Change
Other Investing Activities $9.910M $6.520M -$820.0K
YoY Change -11.44% -895.12% -92.18%
Cash From Investing Activities $5.890M $2.800M -$2.770M
YoY Change -26.92% -201.08% -78.12%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -720.0K 3.760M 260.0K
YoY Change -120.99% 1346.15% -79.37%
NET CHANGE
Cash From Operating Activities 9.400M 6.390M 6.580M
Cash From Investing Activities 5.890M 2.800M -2.770M
Cash From Financing Activities -720.0K 3.760M 260.0K
Net Change In Cash 14.57M 12.95M 4.070M
YoY Change -14.65% 218.18% 804.44%
FREE CASH FLOW
Cash From Operating Activities $9.400M $6.390M $6.580M
Capital Expenditures -$4.020M -$3.720M -$1.960M
Free Cash Flow $13.42M $10.11M $8.540M
YoY Change 54.08% 18.38% -39.09%

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-10000
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
11672000
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
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us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
28000000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-98000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4862000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
5426000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
26052000
us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
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us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-14554000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-140750000
us-gaap Costs And Expenses
CostsAndExpenses
141457000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
100677000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
16654000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
123000
us-gaap Other Noncash Expense
OtherNoncashExpense
938000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
98014000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
3082000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
328000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
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us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
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3721000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
38440000
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
0
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us-gaap Depreciation Depletion And Amortization
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us-gaap Cost Of Goods Sold Excluding Depreciation Depletion And Amortization
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65752000
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184000
us-gaap Goodwill Acquired During Period
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42086000
hstm Number Of Stock Incentive Plans
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2 Incentive_Plan
CY2014Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.12
CY2014Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
41000 shares
CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
28047000 shares
CY2014Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
442000 shares
CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27605000 shares
CY2014Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.12
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
3436000
CY2014Q3 us-gaap Sales Revenue Net
SalesRevenueNet
44525000
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
4741000
CY2014Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
49000
CY2014Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-13000
CY2014Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
3423000
CY2014Q3 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-13000
CY2014Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
4790000
CY2014Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1354000
CY2014Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
7585000
CY2014Q3 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
6058000
CY2014Q3 us-gaap Costs And Expenses
CostsAndExpenses
39784000
CY2014Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
4211000
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31643000 shares
CY2015Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.08
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
2614000
CY2015Q3 us-gaap Sales Revenue Net
SalesRevenueNet
53835000
CY2015Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
4325000
CY2015Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
28000
CY2014Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
388000
CY2014Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2815000
CY2014Q3 us-gaap Cost Of Goods Sold Excluding Depreciation Depletion And Amortization
CostOfGoodsSoldExcludingDepreciationDepletionAndAmortization
19115000
CY2015Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.08
CY2015Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
26000 shares
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32029000 shares
CY2015Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
386000 shares
CY2015Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
31000
CY2015Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
2645000
CY2015Q3 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
31000
CY2015Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
4353000
CY2015Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1739000
CY2015Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
8377000
CY2015Q3 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
7173000
CY2015Q3 us-gaap Costs And Expenses
CostsAndExpenses
49510000
CY2015Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6195000
CY2015Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
440000
CY2015Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4639000
CY2015Q3 us-gaap Cost Of Goods Sold Excluding Depreciation Depletion And Amortization
CostOfGoodsSoldExcludingDepreciationDepletionAndAmortization
23126000

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