HealthStream, Inc. (NASDAQ:HSTM) Q2 2023 Earnings Conference Call July 25, 2023 9:00 AM ET
Company Participants
Mollie Condra - Vice President of Investor Relations and Communications
Bobby Frist - Chief Executive Officer
Scott Roberts - Chief Financial Officer
Conference Call Participants
Matt Hewitt - Craig-Hallum
Richard Close - Canaccord
Vincent Colicchio - Barrington
Jack Melick - William Blair
Operator
Good morning, and welcome to the HealthStream's Second Quarter 2023 Earnings Conference Call. At this time, I would like to inform you that this conference is being recorded, and that all participants are in a listen-only mode. At the request of the company, we will open the conference up for question-and-answers after the presentation.
I will now turn the conference over to Mollie Condra, Vice President of Investor Relations and Communications. Please go ahead, Ms.Condra.
Mollie Condra
Thank you, and good morning. Thank you for joining us today to discuss our second quarter 2023 results. [Technical Difficulty]
So with that start, I'll now turn the call over to CEO, Bobby Frist.
Bobby Frist
Thank you, Mollie. Good morning, everyone, and welcome to our second quarter 2023 earnings call.
Mollie, you were breaking up just a little bit, so I think I heard the hand off correctly, and maybe someone will text me if I'm also breaking up.
But look, some quarters you move the company forward more than others, and this was one of those solid prints, as they say, or a good quarter. We're pleased to report our results to you now this morning. In the second quarter, in fact, we achieved record revenue and record adjusted EBITDA. So, I'd like to start by highlighting those strong financial metrics.
Top-line revenue reached $69.2 million in the quarter, which was up 5% over the same period of 2022. We also delivered solid profitability with $15.3 million of adjusted EBITDA, which was up 17% over the same period of 2022. In just a minute, I'll describe some of the key customer wins in each of our learning, credentialing and scheduling application suites that help drive these results.
All right. I need one second because I see lots of text flying in. I got to make sure I'm not breaking up. Okay. It says I sound clear. I'm going to come back here. Perfect.
So, before we dive into some business updates, let's take a moment to refresh everyone about our business overall, which is also helpful to anyone who's new to HealthStream. First and foremost, HealthStream is a healthcare technology company, dedicated to developing, credentialing and scheduling the healthcare workforce through SaaS-based solutions. Each of which are becoming more valuable, we believe, because of the interoperability they are achieving through our hStream technology platform.