HSTM - HealthStream Inc. (HSTM) Q1 2024 Earnings Call Transcript

2024-04-23 14:10:25 ET

HealthStream, Inc. (HSTM)

Q1 2024 Earnings Conference Call

April 23, 2024 9:00 AM ET

Company Participants

Mollie Condra - Vice President of Investor Relations and Communications

Bobby Frist - Chief Executive Officer

Scotty Roberts - Chief Financial Officer and Senior Vice President, Accounting and Finance

Conference Call Participants

Matt Hewitt - Craig-Hallum

Jared Haase - William Blair and Company

Richard Close - Canaccord Genuity

Constantine Davides - Citizens JMP

Vincent Colicchio - Barrington Research

Stephanie Davis - Barclays

Presentation

Operator

Good morning, and welcome to HealthStream's First 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 and good morning. Thank you for joining us today to discuss our first quarter 2024 results. Also on the conference call with me today 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 could 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 the 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 with that start today, I'll turn the call over to CEO, Bobby Frist.

Bobby Frist

Thank you, Molly. Good morning, everyone and welcome to our first quarter 2024 earnings call. As our analysts sometimes say, it was a solid print. In the first quarter, we achieved record revenue and record adjusted EBITDA. In fact, our quarterly financial performance showed year-over-year increases in each of the major categories we highlight in our earnings release. I'm excited to be able to report that hyper-performance....

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