HSTM - Earnings call transcript Q2 2022

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Operator

Good morning, and welcome to HealthStream's Second Quarter 2022 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 Scotty Roberts, CFO and Senior Vice President. Please go ahead, Mr. Robert.

Scotty Roberts

you. Thank thank XXXX us results. and our to for quarter second you morning, today joining discuss Good I'll Mollie Condra. filling be in this morning for in with Also call Robert conference A. me is the and CEO Frist of Jr., Chairman HealthStream. to would statements from actual HealthStream results cause forward-looking events that remind I risks future forward-looking projected like you this in uncertainties may regarding performance conference future the materially the and to those that the and involve differ contain call of statements. could also that could that contained factors the other filings and release. risks these those XX-K, are concerning differ to statements with Forms from earnings in cause materially and including Information results company's our XX-Q the forward-looking SEC, the

information income earnings release adjusted is turn we which may the A call non-GAAP the is on Bobby reference attributable included to in and in issued CEO, a now we supplemental refer measure. call. adjusted to Frist. reconciling to to such Additionally, this our EBITDA may HealthStream net as and yesterday EBITDA, financial that providing measures over table I'll

Robert Frist

recessionary so Good and Scotty. continue are XXXX a or shifting. you, At call. many morning, when quarter air, to just things our so earnings the pandemic, in in there's time the everyone. up many things world unpredictable second Welcome trends Thank they

opportunity and of And that open our for to I of double think to kind reason, are business basics in going. here we're it's everyone I'm important bit pause the business and little take we a our where to to down on the and going focus. reground who

recurring applications. to on contracts, highly healthcare subscription developing, predictable. healthcare workforce dedicated which applications on under are the a credentialing and link. our scheduling HealthStream average We foremost, First these is to a company revenues means years three sell and through That five SaaS based basis and technology

of we be define healthcare around, end fortunate are on We're as we customers within healthcare, professionals. resistant healthcare. solely our more users it's recession markets to a XX.X and to professionals have no applications. our the We also large million And we profitable the of see about of SaaS healthcare audience focused are little debt. target one rather Those

We led and through and both record flows proven team track inorganic by of are a earnings executives cash means. have organic generating who seasoned

our unreliable We acquiring million of such expect enterprise done X.X% in in key $XX have markets have of place, patented internally market that of innovative I at and three March sight as even approximately outstanding us HealthStream have developed remainder of such have for Jane, in these to the as Learning applications, price solutions so. process. repurchasing to we that allowed and Center, for robust to reliably approximately internally, an takeaways want retiring deliver repurchased $XX.XX, continue doing the average Keeping have year. companies. shares other our share developed again, created we shares fundamentals class we this XXXX, suites integrating When as With of CredentialStream been times, shares, framework new our well. through we Since as and application leading have such appropriate of

half. growth deliver in CloudCME we rate, acquisition our the will year. the of our second line growth of generally are of This an X%, rate more to the inclusive of First, be we believe rate positioned of double than improved half around top which first

mix our a the point improvement time from products. occurred margin second quarter, representing improvement XXXX gross XX%. margin basis to in higher XX% improving XXX gross due sequentially That margin of our of Second, over is the

positive be we each take the person the compared our items when of with of in higher Third, up virtual an height of We beginning we levels sales to reporting indicate sales the pick pandemic. believe engagement second are of move of increased on as meetings that these customer indicators to year. and the into bookings purchasing half customers decisions level to based teams and three

now as a to years. more on talk the last results I'll offense Scotty future we first, we're we the with excited fact, or in about exciting developments on reflect It's offense. In on the as in second more slightly over be management for team defensive to turn few provide expansion. quarter. our will posture single areas the Roberts, maybe on But strategy Later prior that CFO, platform as to believe the I'll drive and it important that feel call, our years, three details to financial well our growth is

Scotty Roberts

and into Thank Operating financial I'll X%. was income which and revenues million metrics $XX.X down Revenues million, $X.X a share, down for And were $X million, income and X%. from quarter. XX%. were the key Workforce million beginning EBITDA recap share Solutions million, per $X.XX with Earnings is X% XX%. up financials, were Net up up Provider was were per were the revenues jump up XX%. $XX.X which Bobby. was were you, $XX.X XX%. and adjusted up of million was our $XX.X Solutions

ShiftWizard to contributions the product Rievent market application, and Jane, application, leading Credential and such solutions sales HealthStream learning competency CloudCME see from scheduling and positive our the continue the adoption Learning Center, like acquisitions. as We areas new momentum application, Stream clinical in the

year-over-year lower impacted comparison, pleased was the segment growth with the quarter. products two this particularly these revenues although by workforce that in are the We solutions, of experienced

software NurseGrid a $X.X from and legacy legacy the products The million. million product of the $X runoff we application they of scheduling features the revenue ANSOS along first second resuscitation expected was the management an in application comprise other the was decline in capacity approximately perpetual products with XXXX, acquired and software acquired, ShiftWizard and ANSOS sold under licenses. installed nonrecurring two Unlike ANSOS suite. our collectively, scheduling and was

new software. of sales churn installed a and legacy During the quarter, rate experienced higher ANSOS its lower of

demonstrated upgrading SaaS compared XX% Our way, same year. ShiftWizard, focus to the to on including growth revenue ANSOS revenue by legacy is now the applications, recurring customers our last period scheduling which

XX.X% to compared XX.X% was year. margin last gross Our

a mentioned product in ago, margin As our higher mix minute continues just solutions improve shift to our Bobby gross margin. to

operating at Looking expenses.

$X.X were million. Excluding X% of up cost revenues, or [sales]

staffing revenue grown travel for the over combination sales, drive marketing growth, create sales our have levels, particular, by growth and past to and sales were product spend. primary year, increased XX% levels, focus and has commissions, business increased primary marketing been and new products have in increased our and expenses expense Investing our and a staffing As Sales and enhancements year. and for over included development driver scheduling last the marketing customers. which of labor capitalized capacity costs costs the increased it with as activity management prior year It's fleet increased development. for good quarter. the increase Capitalized margin the application that net and approximately as well products. though $XXX,XXX even development This associated brings labor expense. by levels higher increased courseware is software in to of over were the to X%, pickup of sales of in some more investments Product mainly create see development was in

travel began the business spent to our We quarter up pick quarter. about last compared quarter in this anticipated, second during less of year. $XXX,XXX to the $XX,XXX As second than

what full our well year quarter this of the pre-COVID exceeded amount is spend, in spent the we travel below for $XXX,XXX XXXX. While

ANSOS savings to with year, reduction last were expenses, generated in bad remain the associated service X%. lease and Partially will recruiting increase continue savings, General staff year. and versus debt, insurance onboarding. although scheduling higher associated with offsetting transition acquisition, software employee premiums cost both though, costs costs that administrative and lease pre-COVID levels. the expenses declined the likely office costs of below The during it expect and travel We second will half the by

in adjusted $X.X last Our was ended million, XX% EBITDA record million, was quarter. the second was year's quarter. We by of the $XX.X $XX.X since cash quarter last investment from with that million down which is set and down which high balances

compared we million million of to basis, flows to DSO expenditures repurchases, to million year-to-date operations share was deployed CloudCME. from to and quarter, million XX million the $X year. cash cash last $X.X XX $XX.X During last compared days for a free and acquire cash capital On year. million for $X.X were last were $XX.X our million $XX year flows $XX compared days

program. the said, over of spent over million and stock. history shares the $X million share. shares X.X% share per have in common half of last retiring in repurchased two deploying towards of at the I and half we we outstanding of approximately years, completed had CloudCME our this of the program ownership years common acquisitions. we approximately remaining long mergers cash acquisition was in million as average $XX.XX May $X.X and the which and we've a program, $X.X our capital in we price $X.X this two for stock million and also repurchase XXth, approximately towards share had And under buybacks, Over on interest capital We've under deployed our we the The remaining $XX million For quarter past process.

associated value minority gain the also complements accredited we for the to We of CME million recognized organizations. CloudCME. the of of acquisition interest provide in with last management December CloudCME The completed change $X.X year. that in Rievent our acquisition companies Both in software held solutions a previously fair healthcare

Now let's discuss guidance.

range our previously and EBITDA to $XXX forecasted and $XX capital which $XX.X between million. expenditures $XXX.X million million between between and guidance, is We are Adjusted million forecasted million. follows. to revenues Consolidated issued are reaffirming is forecasted range million range $XX as to $XX are and

I first and said, top declines some line software, flushed growth. first ANSOS reduced the result will half year-over-year behind the during the will the we year. showing That drag With top mostly half the and second there during as will the quarters, year earlier, selling us line improvement out of which focus on second nonrecurring revenues expect begin some the of mentioned of on in perpetual on a be the

filling of hiring the X% a the rate for in addition a first From increased would by rate line year. revenue double retention new year, which headcount half still of the the our half even the half is employees. growth through first year, more the of and for through an approximate the of X.X% of range end low than As perspective, result growth our CloudCME positions and our the second top reminder,

during X% quarters. staffing to X% plan remains been and rates employee recruit levels Our similar to remain what turnover effectively experienced past increase We've hire to able the our year. several we've the while to by

lower shows to to travel, first and in your of turn software, for of the higher nonrecurring year. be we to half they year the expected second now. sales and first in will morning. you ANSOS I'll Bobby, adjusted the the perpetual attributed this half, half Thanks than such time over compensation part as of as the be EBITDA than were expect lower the back trade expenses call guidance, the Looking expenses will

Robert Frist

never for applications the for Learning What the that interoperability. is easy or that's firmly even should where is best Thank but of credentialing do. is clear HealthStream next other for is the make offers not that's stopped do believe easy what application want our best and you, workforce. the application together. CredentialStream learning, healthcare as believe Center to those application course, and what answer hStream should say, platform we The ShiftWizard One now asking next. we the we they leverage Scotty. SaaS why to it's comes Whether application for is each scheduling, And HealthStream applications to ourselves better That's work to we in.

Our platform to designed deliver emerging interoperability. hStream is

and portal customer the be this example, already commercially portal for said, HealthStream available number Center into first will December at The being to HRIS customers. the plugged portal our developer in available third over the application. that has API interoperability included establish are system APIs, largest small example, launch the become our will partners. and between With learning launch in developer Learning APIs the our of With our its learning quarter and used APIs, in the start launch, year, will hStream of large expected developer time. customers That of some of the services platform grow the by to one for their of

of they happens Learning as soon This example automatically APIs, with as is integrated of a the how customer makes time training programs Center HealthStream nurse new saving to more the the resources. automatically enrolled deeply extends our our value the propositions. appropriate is reach and our hired, applications This are Now improves interoperability customer learning one application. and workflows in in just network, the

continue created With of updating will] developer on you journey. expand. portal opportunities the it that to to interoperability and the our look the We will APIs forward contain, through emergence

happening is go a questions, tell our participate to we I at that individual about individuals to for want healthcare to you Before professionals -- new enter new There's HealthStream. and network. something way in

model. a For platform are the on first time, business-to-professional people our directly arriving through

seven them I'll XX possible. rating, their couple last a just describe of applications acquired it the added subscribe are logged and me subscribers the making And in Let of network of that's with course days compounding week, level every star the new find NurseGrid by I with App love XXXX. in the NurseGrid, I one for the XXX,XXX with users the over has growth. colleagues. shifts this we organic of week. to socialize that means fantastic. the X.X The and month. monthly days. the actively of XX,XXX to ratings. That X,XXX Apple's United last people X,XXX application in believe That's switch during choosing and eight in now about of start number in effect, average over is XXX,XXX since it Store we to app increased XX% March that top-rated States Nurses NurseGrid nurses past the in use which nurses on

us signing see than only a careers professional students allowing before. why between examples, Another of capacity platform in The of this their their up all users rotation myClinicalExchange, steady United clinical in Not constant before approximately to the estimate on these signing development. students influx they students and but business-to-professional begin. up nursing we're allow in individuals application nursing us Through even form States is their XX% of for that using our earlier about individuals. new that ensure are enroll to and you This myClinicalExchange. relationship go a flow they're excited first start upstream as new We as -- myClinicalExchange.

and users For and our XX platform applications to use, employer were professional NurseGrid them healthcare a welcoming strictly developer business while our go to reporting interacted we launching to progress sincere business making note a applications company. business-to-business myClinicalExchange who with questions, are possible. our did now, professional through the a this offense, purchased for it's so professional that due experience, while our Every all are employees because directly years, we for our over products the job leading new but that is amazing to base. a like us millions customer solutions their it even and of the applications not that to back subscription to better, portal Q&A now growing will Whether new our the employees. making In to on potential. to become hope say healthcare and on turn customers to success you With to HealthStreamers on Please before use reimagine our launching the HealthStream. excited as in great future, we'll in professionals we management creates that who that, from opportunity over of I'll quarter, thank deal their capacity creating I individual I'm be unlocks It consumers our to all and operator for the workforce HealthStream well. this analysts. begin

Operator

from comes Our Company. the Blair first line question Hasse Instructions] Jared & [Operator from William of

Jared Hasse

in trends market an kind else favorable in now, growth market to gives little couple general of you aggressively remarks put you point, through perhaps can the the even as on just bit a you're really that prepared comment that behind years, the just circle could Should the more few that this going you that a faster that. better of maybe from feeling or profile feeling combined end about around to more context just transitions a years? and little play bit we office these -- with sort something some there more think invest having been the of that of confidence more at of next just were drive about you just about to on last that wanted sort over is I little seeing you've back like

Robert Frist

Well, it's combination things. of definitely the those

risks we've As spent you explaining been going the know, involved through business many these in we've transitions quarters some them. of and

gotten here we've the ways strategy. course. exciting feel very for it's finding any normal into new normal have talked new need us our companies course other that we didn't them. to out so at I grow, to is script launching kind address that about And words, end prepared to like of a products, tuck acquiring the In to of and And back

the hardest great pandemic pointed facilities, their they've care And second uncertainties. So The the executives in my -- pandemic and is you generally, is employees. were tone adjusting I facilities the just long and one skilled certainly, our the -- market through opening if our of because customers nursing strategy. my in term the out, mean, then your and it I, about as been attitude hospitals predominantly, different. times this lifetime, feels and as of talked comments, conditions, it through too, the

it So our It's continue out a through improve normal watch well, think to reflected patients. for customer some all watch them as care in I them. delivery of base this, their of to the many ways. public to many And few to of fight as some [some] way growth encouraging affected quarters their conditions continue market generally they show in the over announcements, customers last our their new announcements figure change. to company And of that's

think it's recessionary also the of mentioned things demand. I with need demand be and environment that why the in that, still always plenty in but fillers So healthcare overhangs both have macro care we always for to We seems quality and like that's conditions. is

so And market the well and that feel well. we products solutions as our in are positioned

both and of to it on instead changing to say, change on of is that condition good offense the the customers defense. to tone me target in it deposit So feels internal leads our back be

Jared Hasse

some in to year. confidence for call things it this think the there you're anything the out the of in on of rest as follow-up. just or of system on this Is of competitively comments gives see positive sort starting it just regards as activities to to more booking And relates you to velocity seeing a the it But I that trends that these starting of alleviate you is comment health been just the related is a more couple last years, of comfort, impacting end the specifically what pipeline. market have just that just maybe macro to giving that's the for little pipeline, really bit and

Robert Frist

bit both. a little definitely It's of

less -- like pandemic, system the kind the know them you described how breaks it if effective creates I kind works it in bubbles things air air during of get of bubbles, braking. cars So call I

sales process, of the capacity in really they think a way purchased pandemic, in a so or of certain of bubbles to I those is, building have are sometimes return and are I've see But think if with purchasing kind characterized quietly, had the I those they busy weren't country, the parts they during the patterns. think addition, of deal where worked the there didn't quietly way times something, lot a And capacity with and the pandemic. implementation. they products system out in that and we I have we not air the their new were so mode to

for We CredentialStream best -- think billing a privilege the best an CredentialStream positive credential our to has we're for most we in I has onboarding the now productivity getting application work, organization time the customers. to to economic think that huge We our CredentialStream through impact our believe for onboarded our for application positioned economic suite is competitive industry. enrolled time them example, and physicians. It's shorten as newly physicians, And application clear and believe advantage. suite the suite comprehensive billing. ready For and for

products the bit positioning So a about of them. I as be implement little We're our the both. able of would prior and my as our really purchase some excited to to are, answer, as conditions we say, of much with customers it's of

Operator

Canaccord of Our comes line Genuity. next from question from Richard Close the

Richard Close

respect the with Difficulty] question. [Technical previous to

because model, with to or the company confidence respect SaaS through half growth, the Bobby so had softness flow the in a speak. So bookings, while you're of to know that to I and second years, couple some takes couple a you over Scotty, a the last in

speak. that second in So of does does you that a level workforce half, and here, gauge I'm in new live are contracts as area? we provider going the sudden, a the just accelerated trying that the confidence lot all of of the confidence or growth then to in have that is -- the

Robert Frist

to things track. in from stems mentioned, We're of and the virtually. these confidence and person seem processes the reiterated all we've having already some So on getting both be purchase that more back you meetings

to person and Our them sales is virtually. meet accommodating model customers in

So have growth. I and a right for we now with challenges, good. like on of us little bit drag some a feel are the aligned our operational is did have needs do environment products we And

a That So what to bit issues issues. we normalize a well. on scheduling that we're in to those. have bit backlog as said because the and backlog good refer some we more a opportunities those to installed we're struggling about some but on revenue and through as the as products we've guess talked -- get try little we acquired that I are that wins we as factor the trying There we can And now than revenue to had we nice -- to CredentialStream really we fast contract they're platform, expected. the getting have get and not did like we little got

think of more it's our -- So those than of that will it's double. we growth net things. effect blend the a is rate as all all But really always,

fact, we're acquisition, our which is we inclusive detail at in that that In looking provided. we a provided additional range of X% that CloudCME the little

X% more able inclusive were target. for of we to a our growth range reiterate the So the at a and clarity using little CloudCME provide

Richard Close

improvement With I you're respect backlog. clear guess the there with quarter, any over to on last the respect implementations any Has -- talked that on thoughts that? to CredentialStream, you've to and been referring

Robert Frist

allow implementation. the for provide rate enhance, migration teams better even tools processes implementation actually of increase help to tools or the and The or migrate strategies of prepare to customers been now, for preselling and processes teams to and and we've tools hiring some we the to people the experiment

selling we're but getting better So lot. a also we're

backlog that So winning deals. we're to adding by

all don't might the we We customers. But CredentialStream healthy in know have and sets matured generally exactly considerably a always to and our tool the last go months the us So processes help XX faster. dynamic implement normal. it's

Richard Close

And my ANSOS. final question would be, Scotty, on

million said the headwind think second in that first the as in quarter was headwind $X I there Was quarter. from you well? any there

Scotty Roberts

through product, and and back upfront last then saw higher services that combination some first some then benefits other revenue Richard, sales particular, professional we an as both perpetual in of QX some and in first they And those this licenses, year, for which well. recognition kind kind the a to saw half, normalized. reductions and just as of looking just of the QX of come half But items of played year. out in have

So I those reductions product. think combined to quarters both and related both it's QX that we see QX, of

Operator

the Vincent line Our next from comes question Barrington. Colicchio from of

Vincent Colicchio

wanted to people for. able ask the you're you're the to you hire market. labor Just sounds It looking about like

Just inflation? curious, wage is of there any tempering

Robert Frist

and we're -- but the at doing strategies We've or successful roles. for hiring of for being better our hiring our No, rate at shifting hiring strategies people we types pools of kind of need. different

fairly positions pay getting backfilling I grades as people. less a experienced think probably in we're general, maybe at but little consistent before,

industries. to We as employees talked churn those have and train high for colleagues company positions I to and more all our to the continues the in really remain across

up that but we experienced costs And we've getting be in in to people order the probably pressures more to costs been manage pay on inflationary of we're may less so we're training scales. bringing manage able slightly --

Vincent Colicchio

your helping sales the force for travel is sales And out like seems increased process. it

when changed normalize on you versus sales pre-COVID Just levels. on your things how may spend much have curious thoughts

Robert Frist

patterns Well, now, still right the just return. we're watching

or virtually meetings, And manage it costs. when We're allowing exceptions so be a managers encouraging encourage relationship to our done with we're some to sale. customer to our facilitates still internal a travel generally

new it I the the budget, And is in say seen each the so up the it half planned the total that, to pick we're would of the less in of fourth. still establish quarter. have in in pre-pandemic even than our travel for we've again and second again be would probably again pick year third But up what pick quarter And to We, the trying in up after budget levels. rate. first all and

insisted on we've of of things because at to people -- prioritizing show, trade that. send so five for like three, instead assuming try travel customer-facing And we kind

So it difference our teams we're making encouraging closing style relationship. out can deal in adjustments make get our building a a customers when or but with to to the

Vincent Colicchio

and the And then Does for in last your there competitive meet been quarter, in that resuscitation has business. behavior? change question the any expectations me, the

Robert Frist

the the is It's year. now. but tracking the up Competitive expectations implementations, right through seem be all dynamic holding middle of steep rates, to utilization

products improving. We're got -- we've So a customers for against partners really both a to strong way as represent and we go, options long though. up both are

the And so there's as facilitating quite in both for of to a continue going of development for delivery the of battle And we're the the market Red kind share on invest and there. products Cross solution well.

Operator

Close from Our next of Canaccord question comes from Richard Genuity. line the

Richard Close

NurseGrid. curious to and respect myClinicalExchange the was with I Bobby,

think of I the not term to with how guess, providers, what respect you that you clinicians, accessing the with platform. term and people, monetize long that the benefit is about the, as terms In longer ecosystem? What

Robert Frist

more with this an case, in if institution, log of employed a and longitudinal activities, in a finding student. This out service what engaging meaning instead that they're rotation out, is different our is when hospital we've these But now. provider, reach the points months. to It's their higher engagement individuals participate increasingly makes it XX levels history. Well, can -- now in phenomenon we're new a you're XX-year just in mentioned, a represent kind they in of of last career. as It at does at us working of

that for to been hope solutions years, directly tools so we'll We professionals. with longitudinal other person And lifetime. we concept end come testing the commerce as them few history for it each by a working will their that online can we've that of carry the year, create some on think like portfolio our throughout be a they the

fourth some in them have e-commerce. offerings, quarter, we'll to some value directly provide the And through our through so professionals first attempts hopefully, to as

kind model. selling different So a of

and and of applications that on, the development And of their is, answer conceptually fairly over so through was the map as based think but of healthcare answer, increasingly myClinicalExchange, is showing we know instead suites the maintain robust professionals needs be the And we service we individuals BXB ends at NurseGrid and you have we're really do that will opportunities. service employment like of the don't some just during their of our ePortfolio the we think working idea a their through yes. a I the only career application. numbers can lifetime going tools I their to career and further road on contact the And

watch have So about about growth professional. their plant XX% I pretty you're excited to and nurses, new two that. monthly But active it right, we're to these with mean a talk we're business seed of kind NurseGrid to for -- call BXP, that. growth. in I examples you to wanted of organically users and We

So we're new to network, but in professionals do individual as of have we our but the consumers. millions not business-to-professional world,

in got provide next be some announce we've value some pilots months, XX to so the of successful strategies to And also I our that hope revenue. and were them able to generate and

tools. of roll have quarters some while we on these hold out for to of of the kind So next couple

Richard Close

in the the you in learning strength question final center. last my about is, quarter, in -- strength And talked renewed XQ,

talked on programs. maybe some clinical the of about You some softness

strength or or just clinical strength has seeing Jane, Center. mentioned you reversed being helpful? as softness that be morning, as that this think and of Have update area Learning programs, any the in there on did, the well I you're would Scotty an as

Robert Frist

their people, to the new I'm or new XXX,XXX trying to the if big first, years due quarter the that renewals even really HealthStream of largely back believe number to was believe share the I there's the couple have subscribers, quarter strong but would to surprisingly added more additions cover five extended big number. over second was in number what ago, was, -- exciting over find I that Learning that a which Center. contracts think a think then. been you also I in market and new seven

markets. into selling these so And we're niche

people added ourselves. our We it selling as then part a systems bundle. expanded and of direct have application other We're users. And reselling of hospital some the

more see second well. in XXX,XXX I XXX,XXX learning our really let's think one you to market which to and oldest it But that all ago, exceptional. a sure, Jane not XX,XXX fantastic. and there. platform, XXX,XXX five of I'll And I the subscribers good put was range is and just done close if to Checklist products even share, But subscribers right our have new in around still because it's I'm or put to CE years it XXX% then fun the So was is believe guess this quarter. grabbing I it add but did the quarter. and around and back Center on XX,XXX was used between quarter. products say we EBSCO XX,XXX some net

And clinical so those all products. are we --

and what a a a is to investing subscription provisioning CE see development. more hopefully, see and bit library institutions buying benefit And in education. of the and like particularly showing Netflix subscription in for almost in education pickup, a retain so large we we continuing bulk which as We Center, strategy employees their to call for their their the them -- maybe a

now the So this Center year. by first we're Jane, half EBSCO, well encouraged performed of in and all pretty CE Checklist,

Operator

I would the remarks. executives you. back now closing conference Thank to the like turn to for

Robert Frist

you, come the everyone, you call. see time Thank employees participation we'll to schedules everyone, our earnings our look off. And on and for you the to all, Congratulations in we Thank forward next third reporting quarter for call. permits the progress. our earnings your as as

Operator

for This participating. concludes call. today's conference Thank you

may You disconnect. now

HealthStream (HSTM) 26 Jul 222022 Q2 Earnings call transcript