National Research Corporation (NASDAQ: NRC), also operating as NRC Health, is a healthcare analytics and software company that collects, measures, and analyzes experience data from patients, consumers, and employees for healthcare organizations across the United States. Revenue comes primarily from renewable subscription-based service agreements, with a smaller portion from fixed non-subscription arrangements, as disclosed in the FY2025 10-K filed March 5, 2026. The company focuses exclusively on healthcare and positions its cross-continuum platform, built over nearly 45 years, as a competitive differentiator against general-purpose analytics and software providers. Headquartered in Lincoln, Nebraska, in an owned 62,000-square-foot facility, NRC Health serves a broad and diversified customer base distributed across the United States. The company has historically paid quarterly dividends. Trent Green was appointed Chief Executive Officer effective June 1, 2025, bringing prior experience as CEO of Amazon One Medical and COO of Legacy Health.

Revenue model

Majority of revenue derived from renewable subscription-based service agreements; remaining revenue from fixed, non-subscription arrangements. Subscription contracts are subject to variable consideration, with revenue recognition requiring management estimates of future contract consideration and contract costs.

Products and services

Patient Experience solutions delivered via a subscription-based cross-continuum multi-mode digital platform, including patient experience measurement, discharge call workflows, rounding, frontline enablement tools, and CAHPS-compliant survey methods (email, mail, telephone). Consumer Experience solutions including Online Reputation (star ratings from verified patient survey data, review monitoring, listings management with AI-driven recommendations), Community Insights custom research studies, and cross-journey listening via nGage. Solutions also cover employee engagement, care transitions, service recovery, reputation management, and brand loyalty. Legacy experience-based solutions and shared intelligence for healthcare governance and strategy boards are also offered.

Customers and end markets

Healthcare organizations across the continuum of care, including healthcare systems, clinicians, and provider boards and executives. Customer base is broad and diversified across the United States. End market demand is tied to regulatory compliance (CAHPS), value-based purchasing reimbursement models, patient acquisition, and online reputation management. The filing does not disclose specific customer counts or customer concentration percentages.

Value-chain role

Data collection, transmission, analysis, and interpretation of experience data from healthcare consumers and clinicians. Delivers business intelligence, workflow enablement, coaching insights, and improvement plans to healthcare provider organizations. Acts as a software and analytics intermediary between patient and consumer feedback channels and healthcare system operational and strategic decision-making.

Geographic exposure

United States. Headquarters in Lincoln, Nebraska (owned, 62,000 square feet used for operations; 19,300 square feet leased in Lincoln for mail survey processing). The filing does not disclose international operations.

Source: SEC 10-K, filed 2026-03-05

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