Filing Flows › Healthstream (HSTM) › Q2 2025
Healthstream (HSTM) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
Healthstream (HSTM) reported revenue of $74.4M for the second quarter 2025 (Q2 2025), +4% from a year earlier and +1% from the quarter before. Operating margin was 7.9%, net earnings $5.4M (7.2% of revenue).
Healthstream, Q2 2025: revenue $74.4M (+4% year over year), operating margin 7.9%, net earnings $5.4M, operating cash flow $5.0M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $74.4M | +1% | +4% |
| Operating profit | $5.9M | +34% | +33% |
| Net earnings | $5.4M | +24% | +29% |
| Operating cash flow | $5.0M | -81% | -22% |
| Free cash flow | $2.7M | -90% | -57% |
What changed
Revenue was $74.4M in Q2 2025, up 4% year over year and up 1% from the previous quarter. Subscription Services was the largest line at 97% of revenue. Subscription Services added $2.9M year over year (up 4%), 103% of the total change. Professional Services declined 3%.
Operating profit was $5.9M, a 7.9% margin (up 1.7 points year over year). Of the extra revenue versus a year earlier, 52% reached operating profit, above the 6% margin then. Total costs grew 2% against revenue growth of 4%. The fastest-growing cost line was Cost of revenue (+11%). Net earnings were $5.4M, up 29% year over year. The effective tax rate was 21.5%.
Operating cash flow was $5.0M (down 22% year over year), 93% of net earnings. Non-cash charges added back $10.9M of depreciation and amortization and $836K of share-based compensation. Working capital and other items used $12.1M. Capital expenditures of $2.3M left free cash flow of $2.7M.
Questions
What was Healthstream's revenue in the second quarter 2025?
Healthstream (HSTM) reported revenue of $74.4M for the second quarter 2025 (Q2 2025), +4% from a year earlier and +1% from the quarter before.
Was Healthstream profitable in the second quarter 2025?
Operating profit was $5.9M (7.9% of revenue) and net earnings $5.4M.
Source: Healthstream 10-Q on SEC EDGAR.