HealthStream announced its third quarter 2024 financial results on October 21, 2024, reporting record quarterly revenues of $73.1 million, a 3.9% increase compared to $70.3 million in Q3 2023. Subscription revenues rose by 3.6% and professional services revenues increased by 10.8% year-over-year.
The company also achieved record adjusted EBITDA of $17.7 million, up 9.0% from $16.2 million in the prior year's quarter. Net income for the quarter was $5.7 million, a 48.0% increase from $3.9 million, resulting in diluted earnings per share of $0.19, up from $0.13.
HealthStream updated its full-year 2024 guidance, revising revenue expectations to $290.0 - $292.0 million from the previous $292.0 - $296.0 million. However, net income guidance was raised to $18.5 - $19.5 million from $16.7 - $18.6 million, and adjusted EBITDA guidance was updated to $66.0 - $67.5 million from $64.5 - $67.5 million. The Board also approved a quarterly cash dividend of $0.028 per share.
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