What is HealthStream's net debt?

HealthStream (HSTM) reported net debt of -$34.64M in Q1 2026.

How has HealthStream's net debt changed year-over-year?

HealthStream's net debt increased by 42.9% year-over-year, from -$60.65M to -$34.64M.

What is the long-term trend for HealthStream's net debt?

Over 5 years (2020 to 2025), HealthStream's net debt has grown at a 31.7% compound annual growth rate (CAGR), from -$4.7M to -$18.58M.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

HealthStream HSTM Net debt

Discontinued — last reported Q1 '26

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-0.2×-0.1×

HES

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3.1×-0.1×

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11.8×+10.5×

Other financials

Income statement

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Revenue$81.2M+10.5%

Gross profit$49.2M+1.6%

Operating income$5.1M-4.9%

Net income$5.9M+28.9%

EPS (diluted)$0.15-7.6%

Balance sheet

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Cash & equivalents$48.7M-37.0%

Total debt$14.1M-15.5%

Total equity$352.0M-3.0%

Total assets$527.4M+0.6%

Cash flow

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Operating cash flow$27.1M+0.2%

CapEx$740.0K-29.9%

Free cash flow$26.4M+1.4%

Valuation

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Market cap$762.81M-6.1%

Enterprise value$728.16M-3.1%

P/E38.8×-2.7×

P/S2.5×-0.3×

Profitability

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Gross margin64.7%-1.7pp

Operating margin6.7%-0.6pp

Net margin6.3%-0.4pp

FCF margin19.2%-2.0pp

Returns & leverage

See full

Return on equity5.5%0.0pp

Debt / equity0×0.0×

Current ratio1×-0.4×

Where this comes from

Calculated from HealthStream’s reported figures.

$14.1Mtotal debt−$48.7Mcash and equivalents=-$34.64M

The official record: HealthStream’s 10-Q, filed May 6, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is HealthStream's net debt?: HealthStream (HSTM) reported net debt of -$34.64M in Q1 2026.
How has HealthStream's net debt changed year-over-year?: HealthStream's net debt increased by 42.9% year-over-year, from -$60.65M to -$34.64M.
What is the long-term trend for HealthStream's net debt?: Over 5 years (2020 to 2025), HealthStream's net debt has grown at a 31.7% compound annual growth rate (CAGR), from -$4.7M to -$18.58M.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.