8-K
HEALTHSTREAM INC (HSTM)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 13, 2025 (March 13, 2025)
HealthStream, Inc.
(Exact name of Registrant as Specified in Its Charter)
| Tennessee | 000-27701 | 62-1443555 |
|---|---|---|
| (State or Other Jurisdiction<br><br> <br>of Incorporation) | (Commission File Number) | (IRS Employer<br><br> <br>Identification No.) |
| 500 11th Avenue North, Suite 1000,<br><br> <br>Nashville, Tennessee | 37203 | |
| (Address of Principal Executive Offices) | (Zip Code) |
Registrant’s Telephone Number, Including Area Code: 615-301-3100
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Securities registered pursuant to Section 12(b) of the Act:
| Title of each Class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common Stock (Par Value $0.00) | HSTM | Nasdaq Global Select Market |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01 Regulation FD Disclosure
On March 13, 2025, HealthStream, Inc. (the “Company”) issued a press release announcing it has signed an agreement to sublease a portion of its office space in Nashville, Tennessee. In this press release, the Company disclosed that the Company plans to utilize most of the in-year cost savings associated with the sublease on long-term growth initiatives and does not expect economics related to the sublease to impact the Company’s previously issued financial guidance for 2025.
A copy of the press release announcing the sublease agreement is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
| Exhibit<br><br> <br>Number | Description |
|---|---|
| 99.1* | Press Release Dated March 13, 2025 |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
* Furnished herewith.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| HealthStream, Inc. | ||
|---|---|---|
| Date: March 13, 2025 | By: | /s/ Scott A. Roberts |
| Scott A. Roberts | ||
| Chief Financial Officer |
ex_790072.htm
Exhibit 99.1
P R E S S R E L E A S E
For Immediate Release:
Contact:
Mollie Condra, Ph.D.
Head, Investor Relations &
Communications
HealthStream
(615)-301-3237
mollie.condra@healthstream.com
HealthStream Embraces Hybrid, High-Performance Corporate Culture, Reducing Office Space via Partial Subleasing of its Nashville Office
NASHVILLE, Tennessee (March 13, 2025) – **** HealthStream, Inc. (Nasdaq: HSTM), a leading healthcare technology platform company for workforce solutions, announced today that it has signed an agreement to sublease a portion of its office space in Nashville, Tennessee. After careful evaluation, the Company has determined that a hybrid work approach—one that incorporates a blend of in-person and remote work—is best suited for optimizing its workforce performance to deliver positive results for customers, employees, and shareholders. Our strong performance culture is evidenced by HealthStream recently being awarded the #1 spot in G2’s prestigious “2025 Best Software in Healthcare” list across all software of any type that is used in the healthcare industry.
Subleasing its 9^th^ and 10^th^ floor space in the Capitol View building, while retaining its 8^th^ floor space at that location, allows HealthStream to maintain a state-of-the-art, central location in its dynamic home city of Nashville—the healthcare city—to convene employees, customers, and stakeholders for the type of work best done in-person while right-sizing its overall office footprint. HealthStream’s corporate headquarters will remain in Nashville in the Capitol View building, while the Company will continue hiring new employees both locally and nationally to support its growth.
Robert A. Frist, Jr., Chief Executive Officer, HealthStream said, “Our results over the last five years have shown our hybrid work approach and high-performance culture are the right fit for HealthStream and an attractive option for the employees we need to continue our growth. The key to our success in this approach is our sharp focus on continuous and enhanced productivity measurement, goal-alignment, and the right mix of in-person and virtual collaboration—often optimized with the use of new technologies.”
Frist added, “Our hybrid work policy carries a high bar for employees’ performance, availability, responsiveness, and overall contribution value to the Company. In an effort to enhance our ability to identify and reward top performers and maintain an efficient workforce, we are working to gain a broader, more complete composite of individual employee contributions.”
The sublease is expected to commence in the second quarter of 2025 and end in the fourth quarter of 2031. The Company plans to utilize most of the in-year cost savings associated with the sublease on long-term growth initiatives and does not expect economics related to the sublease to impact the Company’s previously issued financial guidance for 2025.
HealthStream also maintains an office lease in San Diego, California, which is currently set to expire in June of 2026—and there are no plans to renew. At present, a majority of HealthStream’s workforce has utilized a hybrid work approach since March 2020.
About HealthStream
HealthStream (Nasdaq: HSTM) is the healthcare industry’s largest ecosystem of platform-delivered workforce solutions that empowers healthcare professionals to do what they do best: deliver excellence in patient care. For more information, visit http://www.healthstream.com or call 800-521-0574.
This press release contains forward-looking statements that involve risks and uncertainties regarding HealthStream. This information has been included in reliance on the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such results or events predicted in these statements may differ materially from actual future events or results. These forward-looking statements are based on a variety of assumptions that may not be realized, and which are subject to significant risks and uncertainties, including that the anticipated financial and strategic benefits of the acquisition may not be realized, as well as risks and uncertainties referenced from time to time in the Company’s filings with the Securities and Exchange Commission.