Revenue: As of FY2025 Q4, the actual value is USD 79.71 M, beating the estimate of USD 76.21 M.EPS: As of FY2025 Q4, the actual value is USD 0.09, missing the estimate of USD 0.11.EBIT: As of FY2025 Q4, the actual value is USD 1.765 M.<h4>Fourth Quarter 2025 Financial Highlights</h4>Operating income for the fourth quarter of 2025 was $2.4 million, representing a 48.8% decrease from $4.7 million in the prior year quarter, primarily due to a $3.8 million charge related to the CEO Stock Gift. Excluding this impact, non-GAAP operating income was $6.2 million, an increase of 31.7% from $4.7 million in the fourth quarter of 2024. Net income decreased by 48.1% to $2.5 million from $4.9 million in the fourth quarter of 2024, with a - $2.8 million negative impact from the CEO Stock Gift. Non-GAAP net income, excluding the CEO Stock Gift impact, was $5.4 million, an increase of 9.5% from $4.9 million in the prior year quarter. Adjusted EBITDA increased by 16.4% to $18.8 million from $16.2 million in the fourth quarter of 2024. As of December 31, 2025, HealthStream, Inc. held $57.0 million in cash and cash equivalents and marketable securities. Capital expenditures incurred during the fourth quarter of 2025 totaled $7.0 million. The company repurchased $5.0 million of outstanding shares in the fourth quarter as part of an authorized $10.0 million share repurchase program.<h4>Full-Year 2025 Financial Highlights</h4>For the full year 2025, operating income decreased by 4.9% to $20.2 million from $21.3 million in 2024, influenced by a - $3.8 million CEO Stock Gift charge. Non-GAAP operating income, excluding the CEO Stock Gift, increased by 12.8% to $24.0 million from $21.3 million in 2024. Net income for 2025 was $18.3 million, down 8.3% from $20.0 million in 2024. Non-GAAP net income, excluding the CEO Stock Gift, increased by 5.8% to $21.2 million from $20.0 million in 2024. Adjusted EBITDA for the full year increased by 7.5% to $71.8 million from $66.8 million in 2024. Capital expenditures incurred during 2025 totaled $31.9 million. The company repurchased 1,111,590 shares of common stock at an aggregate fair value of $30.0 million during the twelve months ended December 31, 2025.<h4>Cash Flow and Balance Sheet (Full-Year 2025)</h4>Net cash provided by operating activities for 2025 was $63,319 thousand, compared to $57,660 thousand in 2024. Net cash used in investing activities was - $50,353 thousand in 2025, up from - $33,972 thousand in 2024. Net cash used in financing activities was - $36,267 thousand in 2025, compared to - $4,516 thousand in 2024. Cash and cash equivalents at the end of 2025 were $36,161 thousand, down from $59,469 thousand at the end of 2024. Total assets were $520,374 thousand as of December 31, 2025, while total liabilities were $166,351 thousand and total shareholders’ equity was $354,023 thousand.<h4>2026 Outlook</h4>健康流科技 (HealthStream, Inc.) projects full-year 2026 net income to range from $20.4 million to $22.8 million and Adjusted EBITDA between $73.0 million and $77.0 million. Capital expenditures for 2026 are anticipated to be between $31.0 million and $34.0 million. The Board of Directors declared a quarterly cash dividend of $0.035 per share, an increase of 12.9% over the previous quarter’s dividend, payable on March 20, 2026, to holders of record on March 9, 2026.

HealthStream | 8-K: FY2025 Q4 Revenue Beats Estimate at USD 79.71 M