$HSTM
HEALTHSTREAM INC

2020 Q3 Form 10-Q Financial Statement

#000156459020048906 Filed on October 29, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2019 Q3 2019 Q2
Revenue $60.88M $62.45M $63.78M
YoY Change -2.51% 4.21% 11.88%
Cost Of Revenue $23.30M $25.35M $26.81M
YoY Change -8.09% 1.0% 15.36%
Gross Profit $37.58M $37.10M $36.98M
YoY Change 1.29% 6.55% 9.48%
Gross Profit Margin 61.72% 59.41% 57.97%
Selling, General & Admin $18.85M $19.01M $20.13M
YoY Change -0.84% 8.26% 18.83%
% of Gross Profit 50.16% 51.24% 54.44%
Research & Development $8.192M $7.195M $7.640M
YoY Change 13.86% 9.02% 16.69%
% of Gross Profit 21.8% 19.39% 20.66%
Depreciation & Amortization $7.406M $7.150M $6.942M
YoY Change 3.58% 18.97% 15.33%
% of Gross Profit 19.71% 19.27% 18.77%
Operating Expenses $8.192M $7.195M $7.640M
YoY Change 13.86% 9.02% 16.69%
Operating Profit $3.134M $3.748M $2.268M
YoY Change -16.38% -19.59% -46.81%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $100.0K $853.0K $852.0K
YoY Change -88.28% -255.66% 78.99%
Pretax Income $3.234M $4.601M $3.120M
YoY Change -29.71% 11.86% -34.18%
Income Tax $600.0K $1.100M $700.0K
% Of Pretax Income 18.55% 23.91% 22.44%
Net Earnings $2.634M $3.712M $2.401M
YoY Change -29.04% 22.27% -5.66%
Net Earnings / Revenue 4.33% 5.94% 3.76%
Basic Earnings Per Share $0.08 $0.11 $0.07
Diluted Earnings Per Share $0.08 $0.11 $0.07
COMMON SHARES
Basic Shares Outstanding 31.96M 32.38M 32.39M
Diluted Shares Outstanding 31.98M 32.44M 32.43M

Balance Sheet

Concept 2020 Q3 2019 Q3 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $149.7M $172.6M $161.6M
YoY Change -13.3% -0.95% -2.36%
Cash & Equivalents $107.0M $133.9M $120.8M
Short-Term Investments $42.67M $38.72M $40.74M
Other Short-Term Assets $19.10M $10.20M $11.09M
YoY Change 87.25% -4.8% -7.32%
Inventory
Prepaid Expenses
Receivables $30.30M $25.92M $27.80M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $199.1M $223.0M $214.5M
YoY Change -10.7% -3.33% -4.7%
LONG-TERM ASSETS
Property, Plant & Equipment $49.50M $26.93M $28.54M
YoY Change 83.8% 210.16% 225.47%
Goodwill $97.54M $97.30M
YoY Change 13.23% 12.95%
Intangibles
YoY Change
Long-Term Investments $6.900M $6.800M $6.800M
YoY Change 1.47% 100.0% 78.95%
Other Assets $18.60M $982.0K $1.224M
YoY Change 1794.09% 29.04% 63.86%
Total Long-Term Assets $277.5M $257.2M $262.0M
YoY Change 7.86% 34.79% 36.0%
TOTAL ASSETS
Total Short-Term Assets $199.1M $223.0M $214.5M
Total Long-Term Assets $277.5M $257.2M $262.0M
Total Assets $476.6M $480.2M $476.5M
YoY Change -0.76% 13.93% 14.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $22.10M $17.40M $16.40M
YoY Change 27.01% -13.43% -25.45%
Accrued Expenses $10.30M $17.70M $15.20M
YoY Change -41.81% 16.45% 43.4%
Deferred Revenue $64.57M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $95.00M $99.70M $98.30M
YoY Change -4.71% 2.25% 1.66%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $31.90M $343.0K $616.0K
YoY Change 9200.29% -61.11% -5.52%
Total Long-Term Liabilities $31.90M $343.0K $616.0K
YoY Change 9200.29% -61.11% -5.52%
TOTAL LIABILITIES
Total Short-Term Liabilities $95.00M $99.70M $98.30M
Total Long-Term Liabilities $31.90M $343.0K $616.0K
Total Liabilities $140.3M $100.0M $146.8M
YoY Change 40.24% 1.68% 50.79%
SHAREHOLDERS EQUITY
Retained Earnings $44.46M $40.75M
YoY Change 50.29% 53.49%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $336.3M $333.9M $329.7M
YoY Change
Total Liabilities & Shareholders Equity $476.6M $480.2M $476.5M
YoY Change -0.75% 13.93% 14.07%

Cashflow Statement

Concept 2020 Q3 2019 Q3 2019 Q2
OPERATING ACTIVITIES
Net Income $2.634M $3.712M $2.401M
YoY Change -29.04% 22.27% -5.66%
Depreciation, Depletion And Amortization $7.406M $7.150M $6.942M
YoY Change 3.58% 18.97% 15.33%
Cash From Operating Activities $17.22M $15.94M $20.52M
YoY Change 8.03% 17.21% 208.57%
INVESTING ACTIVITIES
Capital Expenditures -$5.210M -$4.660M -$11.70M
YoY Change 11.8% 15.92% 195.45%
Acquisitions
YoY Change
Other Investing Activities -$11.15M $1.830M $1.860M
YoY Change -709.29% -198.39% -146.85%
Cash From Investing Activities -$16.36M -$2.830M -$9.840M
YoY Change 478.09% -51.95% 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 -6.410M -50.00K -440.0K
YoY Change 12720.0% 400.0% -98.63%
NET CHANGE
Cash From Operating Activities 17.22M 15.94M 20.52M
Cash From Investing Activities -16.36M -2.830M -9.840M
Cash From Financing Activities -6.410M -50.00K -440.0K
Net Change In Cash -5.550M 13.06M 10.24M
YoY Change -142.5% 69.61% -130.61%
FREE CASH FLOW
Cash From Operating Activities $17.22M $15.94M $20.52M
Capital Expenditures -$5.210M -$4.660M -$11.70M
Free Cash Flow $22.43M $20.60M $32.22M
YoY Change 8.88% 16.91% 203.68%

Facts In Submission

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hstm Description Of Sales Commission Plan
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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 payment either 15 or 27 months after the initial payment, depending on the contract term.
hstm Sales Commissions Amortization Term Description
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RevenueFromContractWithCustomerExcludingAssessedTax
183008000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
191417000
CY2020Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
3134000
CY2019Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
3748000
CY2019Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
131538000
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
1445000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
2634000
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
3712000
us-gaap Net Income Loss
NetIncomeLoss
13168000
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31955000
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32376000
CY2020Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
26000
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.41
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.04
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.41
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.37
CY2019Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.11
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.41
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.33
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.04
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.11
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.41
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.37
CY2020Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
14000
CY2020Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
5000
CY2020Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
149673000
CY2020Q3 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
107007000
CY2020Q3 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
42666000
CY2019Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
172864000
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
7000
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
5000
CY2019Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
172866000
us-gaap Operating Income Loss
OperatingIncomeLoss
14681000
us-gaap Operating Income Loss
OperatingIncomeLoss
11384000
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.08
CY2020Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
149664000
CY2020Q3 us-gaap Assets
Assets
476557000
CY2019Q4 us-gaap Assets
Assets
489544000
CY2020Q3 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
3900000
CY2019Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
5900000
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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