Filing Flows › Healthstream (HSTM) › Q3 2026 › vs Q3 2025
Healthstream (HSTM) Q3 2026 vs Q3 2025 (year over year)
Healthstream's revenue rose $6.8M (+9%) from $76.5M in Q3 2025 to $83.3M in Q3 2026. The biggest changes: Subscription Services +$6.2M (+8%); Professional Services +$679K (+26%). 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 Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 7.9% | 9.9% | -2.0 pts |
| Net margin | 6.4% | 8.0% | -1.5 pts |
| Free cash flow margin | 20.5% | 23.4% | -3.0 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Subscription Services | $80.0M | $73.9M | $6.2M | +8% |
| Professional Services | $3.3M | $2.6M | $679K | +26% |
| Revenue | $83.3M | $76.5M | $6.8M | +9% |
| Other income, net | $482K | $685K | −$203K | -30% |
| Operating profit | $6.6M | $7.6M | −$980K | -13% |
| Costs & expenses | $76.7M | $68.9M | $7.8M | +11% |
| Pre-tax earnings | $7.1M | $8.3M | −$1.2M | -14% |
| Cost of revenue | $30.0M | $26.5M | $3.5M | +13% |
| Research & development | $13.5M | $12.1M | $1.4M | +12% |
| Sales & marketing | $13.3M | $12.1M | $1.2M | +10% |
| Other operating costs | $19.9M | $18.1M | $1.7M | +9% |
| Net earnings | $5.4M | $6.1M | −$713K | -12% |
| Income tax | $1.7M | $2.2M | −$470K | -22% |
| Depreciation & amortization | $11.3M | $10.8M | $445K | +4% |
| Share-based compensation | $1.2M | $794K | $402K | +51% |
| Working capital & other | $443K | −$330K | $773K | — |
| Operating cash flow | $17.4M | $18.0M | −$639K | -4% |
| Free cash flow (OCF − capex) | $17.1M | $17.9M | −$860K | -5% |
| Capital expenditures | $330K | $109K | $221K | +203% |
Questions
How much did Healthstream's revenue grow year over year in Q3 2026?
Healthstream's revenue rose $6.8M (+9%) from $76.5M in Q3 2025 to $83.3M in Q3 2026.
What drove Healthstream's revenue change in Q3 2026?
Subscription Services +$6.2M (+8%); Professional Services +$679K (+26%).