$HSTM
HealthStream Inc

2020 Q2 Form 10-Q Financial Statement

#000156459020034933 Filed on July 30, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2
Revenue $60.55M $63.78M
YoY Change -5.06% 11.88%
Cost Of Revenue $22.94M $26.81M
YoY Change -14.42% 15.36%
Gross Profit $37.62M $36.98M
YoY Change 1.74% 9.48%
Gross Profit Margin 62.13% 57.97%
Selling, General & Admin $18.33M $20.13M
YoY Change -8.94% 18.83%
% of Gross Profit 48.72% 54.44%
Research & Development $7.830M $7.640M
YoY Change 2.49% 16.69%
% of Gross Profit 20.81% 20.66%
Depreciation & Amortization $7.150M $6.942M
YoY Change 3.0% 15.33%
% of Gross Profit 19.01% 18.77%
Operating Expenses $33.31M $7.640M
YoY Change 335.99% 16.69%
Operating Profit $4.304M $2.268M
YoY Change 89.77% -46.81%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $200.0K $852.0K
YoY Change -76.53% 78.99%
Pretax Income $4.500M $3.120M
YoY Change 44.23% -34.18%
Income Tax $1.100M $700.0K
% Of Pretax Income 24.44% 22.44%
Net Earnings $3.442M $2.401M
YoY Change 43.36% -5.66%
Net Earnings / Revenue 5.68% 3.76%
Basic Earnings Per Share $0.11 $0.07
Diluted Earnings Per Share $0.11 $0.07
COMMON SHARES
Basic Shares Outstanding 32.00M 32.39M
Diluted Shares Outstanding 32.03M 32.43M

Balance Sheet

Concept 2020 Q2 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $144.5M $161.6M
YoY Change -10.57% -2.36%
Cash & Equivalents $112.5M $120.8M
Short-Term Investments $32.00M $40.74M
Other Short-Term Assets $20.30M $11.09M
YoY Change 83.06% -7.32%
Inventory
Prepaid Expenses
Receivables $33.90M $27.80M
Other Receivables $0.00 $0.00
Total Short-Term Assets $198.7M $214.5M
YoY Change -7.36% -4.7%
LONG-TERM ASSETS
Property, Plant & Equipment $51.40M $28.54M
YoY Change 80.07% 225.47%
Goodwill $97.30M
YoY Change 12.95%
Intangibles
YoY Change
Long-Term Investments $6.600M $6.800M
YoY Change -2.94% 78.95%
Other Assets $17.70M $1.224M
YoY Change 1346.08% 63.86%
Total Long-Term Assets $279.1M $262.0M
YoY Change 6.55% 36.0%
TOTAL ASSETS
Total Short-Term Assets $198.7M $214.5M
Total Long-Term Assets $279.1M $262.0M
Total Assets $477.8M $476.5M
YoY Change 0.29% 14.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $17.40M $16.40M
YoY Change 6.1% -25.45%
Accrued Expenses $8.900M $15.20M
YoY Change -41.45% 43.4%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $92.40M $98.30M
YoY Change -6.0% 1.66%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $32.50M $616.0K
YoY Change 5175.97% -5.52%
Total Long-Term Liabilities $32.50M $616.0K
YoY Change 5175.97% -5.52%
TOTAL LIABILITIES
Total Short-Term Liabilities $92.40M $98.30M
Total Long-Term Liabilities $32.50M $616.0K
Total Liabilities $138.4M $146.8M
YoY Change -5.72% 50.79%
SHAREHOLDERS EQUITY
Retained Earnings $40.75M
YoY Change 53.49%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $339.4M $329.7M
YoY Change
Total Liabilities & Shareholders Equity $477.8M $476.5M
YoY Change 0.28% 14.07%

Cashflow Statement

Concept 2020 Q2 2019 Q2
OPERATING ACTIVITIES
Net Income $3.442M $2.401M
YoY Change 43.36% -5.66%
Depreciation, Depletion And Amortization $7.150M $6.942M
YoY Change 3.0% 15.33%
Cash From Operating Activities $7.410M $20.52M
YoY Change -63.89% 208.57%
INVESTING ACTIVITIES
Capital Expenditures -$3.810M -$11.70M
YoY Change -67.44% 195.45%
Acquisitions
YoY Change
Other Investing Activities $1.620M $1.860M
YoY Change -12.9% -146.85%
Cash From Investing Activities -$2.200M -$9.840M
YoY Change -77.64% 24.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -130.0K -440.0K
YoY Change -70.45% -98.63%
NET CHANGE
Cash From Operating Activities 7.410M 20.52M
Cash From Investing Activities -2.200M -9.840M
Cash From Financing Activities -130.0K -440.0K
Net Change In Cash 5.080M 10.24M
YoY Change -50.39% -130.61%
FREE CASH FLOW
Cash From Operating Activities $7.410M $20.52M
Capital Expenditures -$3.810M -$11.70M
Free Cash Flow $11.22M $32.22M
YoY Change -65.18% 203.68%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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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 sales commission plan for 2020 typically includes two payments; the initial payment is due in the period a customer contract is entered into, and the final payment is due 60 days after the product implementation is completed. The sales commission plan for 2019 typically included an initial payment in the period a customer contract was entered into, and subsequent payments either 15 or 27 months after the initial payment, depending on the contract term.
hstm Sales Commissions Amortization Term Description
SalesCommissionsAmortizationTermDescription
Non-commensurate commissions are amortized over the greater of the contract term or technological obsolescence period of approximately three years.
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hstm Stock Repurchased Average Price Per Share
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us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
10533000
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
7181000
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
1194000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
3442000
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
2401000
us-gaap Net Income Loss
NetIncomeLoss
10533000
us-gaap Net Income Loss
NetIncomeLoss
8375000
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31997000
CY2020Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
28000
CY2019Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
40000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
25000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
40000
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32025000
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32434000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32191000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32406000
CY2020Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.11
CY2019Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.07
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.33
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.22
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.04
CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.11
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.07
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.33
CY2020Q2 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
60553000
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
63781000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
122125000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.26
CY2020Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.11
CY2019Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.07
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.33
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.22
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.04
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.11
CY2019Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.07
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.33
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.26
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
128967000
CY2020Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
4304000
CY2019Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
2268000
us-gaap Operating Income Loss
OperatingIncomeLoss
11547000
us-gaap Operating Income Loss
OperatingIncomeLoss
7637000
CY2020Q2 us-gaap Assets
Assets
477825000
CY2019Q4 us-gaap Assets
Assets
489544000
CY2020Q2 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
2100000
CY2019Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
4500000
hstm Gain On Non Marketable Equity Investments
GainOnNonMarketableEquityInvestments
100000
CY2018 hstm Change In Fair Value Of Non Marketable Equity Investments
ChangeInFairValueOfNonMarketableEquityInvestments
1300000
hstm Change In Fair Value Of Non Marketable Equity Investments
ChangeInFairValueOfNonMarketableEquityInvestments
-1200000
CY2020Q1 hstm Cost Of Goods And Services Sold Derecognized
CostOfGoodsAndServicesSoldDerecognized
3400000

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