National Research Corporation [NRC] Q1 2024 Earnings Conference Call May 8, 2024 11:00 AM ET

Company Participants

Linda Stacy - VP, Finance
Mark Scudder - ELT
Helen Hrdy - CCO

Operator

Good morning or good afternoon all, and welcome to the National Research Corporation First quarter earnings call. My name is Adam, and I'll be your operator today. [Operator instructions].

I will now hand the floor to Linda Stacy to begin. So, Linda, please go ahead when you're ready.

Linda Stacy

Thank you, Adam, and welcome, everyone, to National Research Corporation's 2024 first quarter earnings call. My name is Linda Stacy, the company's Principal Financial Officer, and joining me on the call today are Mark Scudder from our executive leadership team and Helen Hrdy, our Chief Customer Officer.

Before we continue, I'd like to point out this conference call includes forward-looking statements related to the company that involve risks and uncertainties that could cause actual results or outcomes to differ materially from those currently anticipated. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. For further information about the facts that could affect the company's future results, please see the company's filings with the Securities and Exchange Commission.

With that, I'll turn it over to Mark.

Mark Scudder

Okay, thanks, Linda. Today, we'll talk about markets and strategy and then organizational changes and investments, and then our financial results and outlook. To start, we have big financial goals over the next several years. First, doubling our total addressable market through portfolio additions, acquisitions, and partnerships. Second, double-digit annual revenue growth. Third, expanding our margins, and fourth, creating significant value for investors. The leadership team has highly aligned these goals, and we're very motivated to deliver, and the strategy for doing that is to combine historical strengths, healthcare DNA founded on decades of benchmarks and trusted thought leadership, unrivaled client service, and a mission-driven organization, with an expanding portfolio of products and innovative new technologies. We think the combination of technology and specific healthcare insights is important in our market, and to enhance outcomes and experiences for everyone in the healthcare journey while improving our clients' bottom lines. Our clients generally come from the top 400 healthcare systems in the United States. They're under enormous pressure to improve health outcomes, control costs, retain qualified employees, and expand market share, all while dealing with increasing regulation. The challenge for patients and consumers of healthcare is no less significant as all of us navigate the changing landscape.