HealthStream, Inc. (NASDAQ:HSTM) Q3 2024 Results Conference Call October 22, 2024 9:00 AM ET

Company Participants

Mollie Condra - VP, IR & Communications
Bobby Frist - Co-Founder, Chairman of the Board & CEO
Scott Roberts - CFO & SVP, Accounting & Finance

Conference Call Participants

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

Operator

Good morning, and welcome to HealthStream's Third Quarter 2024 Earnings Conference Call. At this time, I would like to inform you that this conference is being recorded. [Operator Instructions].

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 quarter 2024 results. Also on the conference call 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 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 third quarter 2024 earnings call.

We have a lot to cover today, and I'll just jump right in. We'll start with some basic financials. I'm pleased to report that in the third quarter, our financial performance showed year-over-year increases in each of the major categories we highlight in our earnings release.

We delivered record quarterly revenues of $73.1 million and record quarterly adjusted EBITDA of $17.7 million. Moreover, we are seeing strong sales pipelines on CredentialStream and in credentialing, ShiftWizard in scheduling and on our new reporting and analytics and API-related products that bolster our market-leading HealthStream learning center. And so in that third one there, I'll talk a little bit about an exciting product rollout that's happening right now.