Strong Core Business Growth
CredentialStream experienced a 25% growth, ShiftWizard grew by 19%, and Competency suite by 12%. The core business grew over 6% after excluding the impact of legacy products and customer bankruptcy.
Record Contract Win
HealthStream secured a $14 million deal, one of the largest in its history, with a major health system, including new Competency suite products.
Strong Financial Position
The company reported cash and investment balances of $113.3 million, with no interest-bearing debt, highlighting a strong balance sheet.
Improved Cash Flows
Cash flows from operations were $27.1 million, marking a 29.3% increase from the previous year. Free cash flows improved by 38.3% to $18.2 million.
High Remaining Performance Obligations
The remaining performance obligations were $613 million as of the end of the first quarter, compared to $514 million in the prior year.
Successful User Group Conference
The Annual Credentialing User Group Conference, Thrive25, was well-received, where customers shared success stories using CredentialStream.