What is the revenue and EPS growth rate for Healthstream year over year?

What guidance did Healthstream's management provide for the next earnings period?

What factors drove the changes in Healthstream's revenue and profit?

What is Healthstream's latest dividend and current dividend yield?

What were the key takeaways from Healthstream's earnings call?

What does Healthstream do and what are its main business segments?

Did Healthstream beat or miss consensus estimates last quarter?

What is the market's earnings forecast for Healthstream next quarter?

- **Revenue Growth**: Q3 2025 revenues rose 4.6% to $76.5 million, driven by CredentialStream (23% YoY) and ShiftWizard (29% YoY) growth.
- **Strategic Expansion**: $11.2M Virsys12 acquisition expands payer market presence, with $900k Q4 contribution and up to $4M contingent payments.
- **Career Networks**: NurseGrid (660K users) and myClinicalExchange (250K students) leverage hStream ID for seamless data integration, with monetization strategies like job postings and education.
- **Financial Strength**: $92.6M cash balance, 7.9% YoY EBITDA growth to $19.1M, and completion of $25M share buyback program.
- **Legacy Transition**: $1.7M decline in legacy revenues offset by core growth, with full-year guidance maintained despite $3M legacy drop in Q4.

**【CEO Summary Section】**
- **Record Financial Performance**: Q3 2025 revenues reached $76.5 million, up 4.6% YoY, with operating income rising 16.5% to $7.6 million. Adjusted EBITDA hit $19.1 million, a 7.9% YoY increase.
- **Strategic Acquisition**: Acquired Virsys12 for $11.2 million, expanding into the payer market with a $900k expected Q4 contribution. The deal includes up to $4 million in contingent payments over 3 years.
- **Career Networks Growth**: NurseGrid boasts 660,000 monthly active users, while myClinicalExchange serves 250,000 clinical students. Both platforms are integrated via hStream ID, enabling seamless data sharing and portfolio management.
- **Product Momentum**: CredentialStream and ShiftWizard grew 23% and 29% YoY, respectively, driven by conversions from legacy systems. The Competency Suite, a bundled offering, saw an 18% YoY revenue increase.
- **Legacy Transition**: Legacy credentialing and scheduling revenues declined $1.7 million YoY, offsetting core growth. Full-year guidance remains unchanged, with narrowed ranges reflecting operational confidence.

**【CFO Financial Commentary】**
- **Financial Health**: Ended Q3 with $92.6 million in cash, up from $90.6 million last quarter. Free cash flow for the year is $24.7 million, down 1.2% YoY due to higher capex.
- **Gross Margin Dynamics**: Gross margin dipped to 65.3% (from 66.5%) due to cloud and software licensing costs. Operating expenses rose 0.6%, with sales and marketing up 5.6% on staffing additions.
- **Shareholder Returns**: Repurchased $6.9 million in shares under a $25 million program, completed in Q3. Dividends of $0.031 per share were declared, maintaining a steady payout.
- **Guidance Update**: Full-year 2025 revenue expected between $299.5M-$301.5M, with adjusted EBITDA of $69.5M-$71.5M. Excludes potential future acquisitions.

**【Q&A Highlights】**
- **Virsys12 Mix**: Revenue from Virsys12 is split between subscription and consulting, with $900k expected in Q4. The acquisition brings payer expertise and a 25+ customer base.
- **Career Network Monetization**: NurseGrid explores LinkedIn-style monetization, including job postings, education, and debt consolidation partnerships. myClinicalExchange generates $30/student, with 2,000 weekly ID additions.
- **Product Growth Drivers**: ShiftWizard and CredentialStream growth reflects competitive takeaways and existing customer expansion. The Competency Suite's 18% YoY growth highlights bundled sales appeal.
- **Small Hospital Strategy**: Bundled solutions like the Critical Access bundle target cost-conscious small hospitals, combining learning, scheduling, and policy management at a discounted rate.


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