HealthStream, Inc. (NASDAQ:HSTM) Q2 2024 Earnings Call Transcript July 23, 2024 9:00 AM ET

Company Participants

Mollie Condra - VP of IR and Communications
Bobby Frist - CEO and Chairman
Scotty Roberts - CFO and SVP of Finance and Accounting

Conference Call Participants

Matt Hewitt - Craig-Hallum
Anna Kruszenski - Barclays
Jared Haase - William Blair
Richard Close - Canaccord Genuity
Constantine Davides - Citizens JMP
Vincent Colicchio - Barrington Research

Operator

Good morning and welcome to HealthStream's Second Quarter 2024 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 questions-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. Good morning and thank you for joining us today to discuss our second quarter 2024 results. Also in the conference call with me is Robert A. Frist Jr., CEO and Chairman of HealthStream; and Scotty Roberts, CFO and Senior Vice President of Finance and Accounting.

I would also like to remind you that this conference call may contain forward-looking statements regarding future events and the future performance of HealthStream that involve risks and uncertainties that could cause the actual results to differ materially from those projected in the forward-looking statements. Information concerning these risks and other factors that could cause the results to differ materially from those forward-looking statements are contained in the company's filings with the SEC, including forms 10-K, 10-Q and our earnings release. Additionally, we may reference measures such as adjusted EBITDA, which is a non-GAAP financial measure. A table providing supplemental information on adjusted EBITDA and reconciling to the net income attributable to HealthStream is included in the earnings release that we issued yesterday and may refer to in this call.

So at this time, I'll turn the call over to CEO, Bobby Frist.

Bobby Frist

Thank you, Mollie. Good morning everyone, and welcome to our second quarter 2024 earnings call. We'll just jump right in and hit some of the key highlights. Pleased to report, during the second quarter, our financial performance showed year-over-year increases in each of the major categories that we highlight in our earnings release. So we finished the quarter with strong sales and solid sales pipeline, and we were able to reiterate our 2024 guidance ranges. In particular, we're seeing strong sales pipelines on CredentialStream in our credentialing area, ShiftWizard in our scheduling area, and our new enterprise competency suite in learning, and we'll talk more about some of these later in the call, which we believe that emerging enterprise competency suite is the most complete offering of its kind in the industry.