Record Quarterly Revenues
HealthStream achieved record quarterly revenues of $76.5 million, up 4.6% from the third quarter of last year.
Operating and Net Income Growth
Operating income increased by 16.5%, while net income rose by 6.3% compared to the same quarter last year.
Strong Performance in Core Solutions
CredentialStream grew by 23%, ShiftWizard by 29%, and Competency Suite by 18%.
Acquisition of Virsys12
HealthStream acquired Virsys12 to strengthen and expand its entry into the payer and health plan space.
Large Cash Balance
The company reported a strong cash balance of $92.6 million at the end of the third quarter.
Improved Cash Flow
Cash flows from operations were $50.1 million year-to-date, up from $46.5 million last year, an increase of 7.8%.