Filing Flows › Healthstream (HSTM) › Q1 2026
Healthstream (HSTM) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 6, 2026
Healthstream (HSTM) reported revenue of $81.2M for the first quarter 2026 (Q1 2026), +11% from a year earlier and +2% from the quarter before. Operating margin was 9.3%, net earnings $5.9M (7.3% of revenue).
Healthstream, Q1 2026: revenue $81.2M (+10% year over year), operating margin 9.3%, net earnings $5.9M, operating cash flow $27.1M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $81.2M | +2% | +11% |
| Operating profit | $7.5M | +212% | +72% |
| Net earnings | $5.9M | +133% | +36% |
| Operating cash flow | $27.1M | +106% | +0.2% |
| Free cash flow | $26.4M | +103% | +1% |
What changed
Revenue was $81.2M in Q1 2026, up 11% year over year and up 2% from the previous quarter. Subscription Services was the largest line at 97% of revenue. Subscription Services added $7.6M year over year (up 11%), 99% of the total change.
Operating profit was $7.5M, a 9.3% margin (up 3.3 points year over year). Of the extra revenue versus Q1 2025, 41% reached operating profit, above the 6% margin then. Total costs grew 7% against revenue growth of 11%. The fastest-growing cost line was Research & development (+13%). Net earnings were $5.9M, up 36% year over year. The effective tax rate was 24.4%.
Operating cash flow was $27.1M (roughly flat year over year), 459% of net earnings. Non-cash charges added back $11.4M of depreciation and amortization and $1.3M of share-based compensation. Working capital and other items added $8.6M. Capital expenditures of $740K left free cash flow of $26.4M.
Questions
What was Healthstream's revenue in the first quarter 2026?
Healthstream (HSTM) reported revenue of $81.2M for the first quarter 2026 (Q1 2026), +11% from a year earlier and +2% from the quarter before.
Was Healthstream profitable in the first quarter 2026?
Operating profit was $7.5M (9.3% of revenue) and net earnings $5.9M.
Source: Healthstream 10-Q on SEC EDGAR.