HEALTHSTREAM INC
For the period ended Dec 31, 2024. Filed Feb 28, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 28, 2025
HSTM$28.71-0.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| OPERATING ACTIVITIES: | |||
| Net income | $20,007 | $15,213 | $12,091 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 41,243 | 41,076 | 37,945 |
| Stock-based compensation | 4,470 | 4,153 | 3,554 |
| Amortization of deferred commissions | 12,480 | 11,495 | 10,599 |
| Provision for credit losses | 2,595 | 1,021 | 385 |
| Deferred income taxes | (1,114) | (1,725) | 710 |
| Gain on disposal of fixed assets | — | — | (25) |
| Loss on equity method investments | 230 | 384 | 747 |
| Change in fair value of non-marketable equity investments | — | (425) | (3,596) |
| Other | (1,639) | (891) | 3 |
| Changes in operating assets and liabilities: | |||
| Accounts and unbilled receivables | 537 | 3,243 | (7,770) |
| Prepaid royalties | 655 | (1,131) | 84 |
| Other prepaid expenses and other current assets | (1,371) | (1,243) | 2,329 |
| Deferred commissions | (15,451) | (14,852) | (14,931) |
| Other assets | (258) | 328 | 208 |
| Accounts payable and accrued expenses | (5,027) | 4,825 | 3,742 |
| Accrued royalties | 633 | (887) | 406 |
| Deferred revenue | (330) | 3,386 | 4,707 |
| Net cash provided by operating activities | 57,660 | 63,970 | 51,188 |
| INVESTING ACTIVITIES: | |||
| Cash paid for acquisitions, net of cash acquired | (1,299) | (6,621) | (3,965) |
| Proceeds from maturities of marketable securities | 69,150 | 28,250 | 10,625 |
| Purchases of marketable securities | (74,446) | (50,268) | (13,467) |
| Proceeds from sale of fixed assets | — | — | 26 |
| Proceeds from sale of non-marketable equity investments | 765 | 47 | 3,494 |
| Payments associated with capitalized software development | (26,741) | (25,806) | (23,334) |
| Purchases of property and equipment | (1,401) | (2,200) | (1,768) |
| Net cash used in investing activities | (33,972) | (56,598) | (28,389) |
| FINANCING ACTIVITIES: | |||
| Taxes paid related to net settlement of equity awards | (1,113) | (934) | (565) |
| Payment of debt issuance costs | — | (118) | — |
| Repurchases of common stock | — | (8,929) | (23,137) |
| Payment of cash dividends | (3,403) | (3,058) | — |
| Net cash used in financing activities | (4,516) | (13,039) | (23,702) |
| Effect of exchange rate changes on cash and cash equivalents | (36) | (23) | 21 |
| Net increase (decrease) in cash and cash equivalents | 19,136 | (5,690) | (882) |
| Cash and cash equivalents at beginning of period | 40,333 | 46,023 | 46,905 |
| Cash and cash equivalents at end of period | $59,469 | $40,333 | $46,023 |
| SUPPLEMENTAL CASH FLOW INFORMATION: | |||
| Interest paid | $101 | $132 | $99 |
| Income taxes paid | $8,701 | $2,611 | $718 |
| NONCASH INVESTING AND FINANCING ACTIVITIES: | |||
| Purchases of property and equipment, accrued but not paid | $399 | $91 | $727 |
| Capitalized software development, accrued but not paid | $1,055 | $961 | $1,267 |
| Fair value of common stock issued as consideration for business combinations | $— | $— | $4,084 |
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