Filing Flows

Filing Flows › Healthstream (HSTM) › Q3 2026 › vs Q2 2026

Healthstream (HSTM) Q3 2026 vs Q2 2026 (quarter over quarter)

Healthstream's revenue fell $423K (-0.5%) from $83.7M in Q2 2026 to $83.3M in Q3 2026. The biggest changes: Professional Services −$480K (-13%); Subscription Services +$57K (+0.1%). Operating margin 7.9% against 9.9% (-2.0 pts).

Healthstream, Q3 2026: revenue $83.3M (+9% year over year), operating margin 7.9%, net earnings $5.4M, operating cash flow $17.4M. The chart draws each line against Q2 2026, the increases inside each band.

Healthstream: what changed, Q3 2026 vs Q2 2026Healthstream: what changed, Q3 2026 vs Q2 2026Working capital & other−$5.2MFree cash flow (OCF − capex)$4.5MOperating cash flow$4.0MOperating profit−$1.7MPre-tax earnings−$1.6MCosts & expenses$1.3MNet earnings−$1.3MCost of revenue$995KCapital expenditures−$580KOther operating costs$555K

Margins

Q3 2026Q2 2026Change
Operating margin7.9%9.9%-2.0 pts
Net margin6.4%8.0%-1.5 pts
Free cash flow margin20.5%15.0%+5.5 pts

Every line

LineQ3 2026Q2 2026Change%
Subscription Services$80.0M$80.0M$57K+0.1%
Professional Services$3.3M$3.7M−$480K-13%
Revenue$83.3M$83.7M−$423K-0.5%
Other income, net$482K$375K$107K+29%
Operating profit$6.6M$8.3M−$1.7M-21%
Costs & expenses$76.7M$75.4M$1.3M+2%
Pre-tax earnings$7.1M$8.7M−$1.6M-19%
Cost of revenue$30.0M$29.0M$995K+3%
Research & development$13.5M$13.6M−$56K-0.4%
Sales & marketing$13.3M$13.5M−$183K-1%
Other operating costs$19.9M$19.3M$555K+3%
Net earnings$5.4M$6.7M−$1.3M-19%
Income tax$1.7M$2.0M−$331K-16%
Depreciation & amortization$11.3M$11.3M−$10K-0.1%
Share-based compensation$1.2M$1.1M$90K+8%
Working capital & other$443K$5.6M−$5.2M-92%
Operating cash flow$17.4M$13.4M$4.0M+29%
Free cash flow (OCF − capex)$17.1M$12.5M$4.5M+36%
Capital expenditures$330K$910K−$580K-64%

Questions

How much did Healthstream's revenue grow quarter over quarter in Q3 2026?

Healthstream's revenue fell $423K (-0.5%) from $83.7M in Q2 2026 to $83.3M in Q3 2026.

What drove Healthstream's revenue change in Q3 2026?

Professional Services −$480K (-13%); Subscription Services +$57K (+0.1%).

Q3 2026 results → · Compare in the interactive Sankey →