$HSTM
HealthStream Inc

2018 Q1 Form 10-Q Financial Statement

#000119312518154404 Filed on May 07, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $54.86M $51.97M
YoY Change 5.56% -3.9%
Cost Of Revenue $22.25M $21.15M
YoY Change 5.18% -7.63%
Gross Profit $32.61M $30.82M
YoY Change 5.83% -1.16%
Gross Profit Margin 59.44% 59.3%
Selling, General & Admin $16.81M $16.77M
YoY Change 0.24% 1.45%
% of Gross Profit 51.55% 54.42%
Research & Development $6.001M $5.775M
YoY Change 3.91% -17.71%
% of Gross Profit 18.4% 18.74%
Depreciation & Amortization $6.073M $5.902M
YoY Change 2.9% 14.82%
% of Gross Profit 18.62% 19.15%
Operating Expenses $6.001M $5.775M
YoY Change 3.91% -17.71%
Operating Profit $3.730M $2.365M
YoY Change 57.72% -4.91%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $313.0K $130.0K
YoY Change 140.77% 622.22%
Pretax Income $4.043M $2.495M
YoY Change 62.04% -0.4%
Income Tax $414.0K $786.0K
% Of Pretax Income 10.24% 31.5%
Net Earnings $23.85M $1.285M
YoY Change 1755.72% -14.39%
Net Earnings / Revenue 43.47% 2.47%
Basic Earnings Per Share $0.74 $0.04
Diluted Earnings Per Share $0.74 $0.04
COMMON SHARES
Basic Shares Outstanding 32.10M 31.77M shares
Diluted Shares Outstanding 32.13M 32.10M shares

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $195.4M $115.3M
YoY Change 69.47% -23.39%
Cash & Equivalents $156.0M $53.03M
Short-Term Investments $39.30M $62.30M
Other Short-Term Assets $5.962M $7.965M
YoY Change -25.15% 25.02%
Inventory
Prepaid Expenses
Receivables $36.50M $39.27M
Other Receivables $0.00 $0.00
Total Short-Term Assets $258.5M $184.0M
YoY Change 40.46% -10.54%
LONG-TERM ASSETS
Property, Plant & Equipment $8.297M $10.49M
YoY Change -20.94% -13.77%
Goodwill $86.14M $109.8M
YoY Change -21.52% 28.75%
Intangibles
YoY Change
Long-Term Investments $3.800M $3.300M
YoY Change 15.15% -8.33%
Other Assets $5.746M $645.0K
YoY Change 790.85% 5.39%
Total Long-Term Assets $198.7M $217.8M
YoY Change -8.77% 28.06%
TOTAL ASSETS
Total Short-Term Assets $258.5M $184.0M
Total Long-Term Assets $198.7M $217.8M
Total Assets $457.2M $401.8M
YoY Change 13.78% 6.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $24.50M $3.837M
YoY Change 538.52% 177.04%
Accrued Expenses $13.40M $7.656M
YoY Change 75.03% -12.31%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $139.6M $98.13M
YoY Change 42.29% 17.33%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $670.0K $1.590M
YoY Change -57.86% 50.0%
Total Long-Term Liabilities $670.0K $1.590M
YoY Change -57.86% 50.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $139.6M $98.13M
Total Long-Term Liabilities $670.0K $1.590M
Total Liabilities $140.3M $99.72M
YoY Change 40.7% 17.74%
SHAREHOLDERS EQUITY
Retained Earnings $24.00M $8.823M
YoY Change 172.04% 185.35%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $309.0M $289.8M
YoY Change
Total Liabilities & Shareholders Equity $457.2M $401.8M
YoY Change 13.78% 6.93%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income $23.85M $1.285M
YoY Change 1755.72% -14.39%
Depreciation, Depletion And Amortization $6.073M $5.902M
YoY Change 2.9% 14.82%
Cash From Operating Activities $8.549M $16.53M
YoY Change -48.27% 189.44%
INVESTING ACTIVITIES
Capital Expenditures $1.858M $931.0K
YoY Change 99.57% -65.33%
Acquisitions
YoY Change
Other Investing Activities $65.08M -$9.510M
YoY Change -784.33% 47450.0%
Cash From Investing Activities $60.68M -$12.86M
YoY Change -571.86% 173.6%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.034M -268.0K
YoY Change -858.96% 16.52%
NET CHANGE
Cash From Operating Activities 8.549M 16.53M
Cash From Investing Activities 60.68M -12.86M
Cash From Financing Activities 2.034M -268.0K
Net Change In Cash 71.26M 3.400M
YoY Change 1995.88% 335.9%
FREE CASH FLOW
Cash From Operating Activities $8.549M $16.53M
Capital Expenditures $1.858M $931.0K
Free Cash Flow $6.691M $15.60M
YoY Change -57.1% 415.57%

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506000
CY2018Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-6074000
CY2018Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
3629000
CY2018Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
20217000
CY2018Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-421000
CY2018Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
35000 shares
CY2018Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.11
CY2018Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.63
CY2018Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
7000
CY2018Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
414000
CY2018Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
530000
CY2018Q1 us-gaap Increase Decrease In Prepaid Royalties
IncreaseDecreaseInPrepaidRoyalties
2467000
CY2018Q1 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
1864000
CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
60792000
CY2018Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
9551000
CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
60677000
CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2034000
CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
2034000
CY2018Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
8549000
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
23846000
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
3730000
CY2018Q1 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
15000
CY2018Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
15000
CY2018Q1 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
7742000
CY2018Q1 us-gaap Other Noncash Expense
OtherNoncashExpense
30000
CY2018Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
313000
CY2018Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
297000
CY2018Q1 us-gaap Payments For Software
PaymentsForSoftware
2541000
CY2018Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1858000
CY2018Q1 us-gaap Payments Of Merger Related Costs Financing Activities
PaymentsOfMergerRelatedCostsFinancingActivities
37000
CY2018Q1 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
12612000
CY2018Q1 us-gaap Proceeds From Divestiture Of Businesses And Interests In Affiliates
ProceedsFromDivestitureOfBusinessesAndInterestsInAffiliates
58203000
CY2018Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
19600000
CY2018Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2368000
CY2018Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
390000
CY2018Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6001000
CY2018Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod
P12M
CY2018Q1 us-gaap Sales Revenue Net
SalesRevenueNet
54858000
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
419000
CY2018Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
9064000
CY2018Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
2071000
CY2018Q1 us-gaap Stock Issued During Period Shares Share Based Compensation Gross
StockIssuedDuringPeriodSharesShareBasedCompensationGross
0 shares
CY2018Q1 dei Trading Symbol
TradingSymbol
HSTM
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32132000 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32097000 shares
CY2018Q1 hstm Number Of Stock Incentive Plans
NumberOfStockIncentivePlans
2 Incentive_Plan
CY2018Q1 hstm Description Of Sales Commission Plan
DescriptionOfSalesCommissionPlan
Sales commissions earned by our sales force are considered incremental and recoverable costs of obtaining a contract with a customer. The Company’s sales commission plans include multiple payments, including initial payments in the period a customer contract is obtained and subsequent payments either 15 or 27 months after the initial payment.
CY2018Q1 hstm Sales Commissions Amortization Term Description
SalesCommissionsAmortizationTermDescription
Non-commensurate commissions will be amortized over the greater of contract term or technological obsolescence period, which has been determined to be three years.
CY2018Q1 hstm Sales Commissions Amortization Period
SalesCommissionsAmortizationPeriod
P3Y

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