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Side-by-side financial comparison of ADAMAS TRUST, INC. (ADAM) and HEALTHSTREAM INC (HSTM). Click either name above to swap in a different company.
HEALTHSTREAM INC is the larger business by last-quarter revenue ($79.7M vs $43.2M, roughly 1.8× ADAMAS TRUST, INC.). On growth, ADAMAS TRUST, INC. posted the faster year-over-year revenue change (61.6% vs 7.4%). ADAMAS TRUST, INC. produced more free cash flow last quarter ($125.9M vs $13.0M). Over the past eight quarters, ADAMAS TRUST, INC.'s revenue compounded faster (55.5% CAGR vs 4.7%).
HealthStream Inc is a leading U.S.-based provider of workforce development, compliance, and training solutions tailored for the healthcare industry. It offers cloud-based platforms covering clinical skill training, talent management, patient safety education, and regulatory adherence tools, serving over 4,000 healthcare organizations including hospitals, clinics, and long-term care facilities nationwide.
ADAM vs HSTM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.2M | $79.7M |
| Net Profit | $53.5M | — |
| Gross Margin | — | — |
| Operating Margin | — | 3.0% |
| Net Margin | 124.0% | — |
| Revenue YoY | 61.6% | 7.4% |
| Net Profit YoY | 270.5% | — |
| EPS (diluted) | $0.45 | $0.09 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $43.2M | $79.7M | ||
| Q3 25 | $36.6M | $76.5M | ||
| Q2 25 | $36.4M | $74.4M | ||
| Q1 25 | $33.1M | $73.5M | ||
| Q4 24 | $26.7M | $74.2M | ||
| Q3 24 | $20.2M | $73.1M | ||
| Q2 24 | $19.0M | $71.6M | ||
| Q1 24 | $17.9M | $72.8M |
| Q4 25 | $53.5M | — | ||
| Q3 25 | $44.8M | $6.1M | ||
| Q2 25 | $8.5M | $5.4M | ||
| Q1 25 | $42.2M | $4.3M | ||
| Q4 24 | $-31.4M | — | ||
| Q3 24 | $42.8M | $5.7M | ||
| Q2 24 | $-15.6M | $4.2M | ||
| Q1 24 | $-57.9M | $5.2M |
| Q4 25 | — | 3.0% | ||
| Q3 25 | — | 9.9% | ||
| Q2 25 | 11.7% | 7.9% | ||
| Q1 25 | — | 6.0% | ||
| Q4 24 | -119.0% | 6.3% | ||
| Q3 24 | — | 8.9% | ||
| Q2 24 | -124.7% | 6.2% | ||
| Q1 24 | -448.8% | 7.8% |
| Q4 25 | 124.0% | — | ||
| Q3 25 | 122.5% | 8.0% | ||
| Q2 25 | 23.4% | 7.2% | ||
| Q1 25 | 127.4% | 5.9% | ||
| Q4 24 | -117.5% | — | ||
| Q3 24 | 211.7% | 7.8% | ||
| Q2 24 | -81.9% | 5.8% | ||
| Q1 24 | -324.1% | 7.2% |
| Q4 25 | $0.45 | $0.09 | ||
| Q3 25 | $0.36 | $0.20 | ||
| Q2 25 | $-0.04 | $0.18 | ||
| Q1 25 | $0.33 | $0.14 | ||
| Q4 24 | $-0.46 | $0.16 | ||
| Q3 24 | $0.36 | $0.19 | ||
| Q2 24 | $-0.29 | $0.14 | ||
| Q1 24 | $-0.75 | $0.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $210.3M | $36.2M |
| Total DebtLower is stronger | $735.8M | — |
| Stockholders' EquityBook value | $1.4B | $354.0M |
| Total Assets | $12.6B | $520.4M |
| Debt / EquityLower = less leverage | 0.52× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $210.3M | $36.2M | ||
| Q3 25 | $185.3M | $53.5M | ||
| Q2 25 | $160.4M | $52.1M | ||
| Q1 25 | $177.1M | $77.3M | ||
| Q4 24 | $167.4M | $59.5M | ||
| Q3 24 | $195.1M | $57.5M | ||
| Q2 24 | $235.5M | $46.1M | ||
| Q1 24 | $226.9M | $52.4M |
| Q4 25 | $735.8M | — | ||
| Q3 25 | $766.6M | — | ||
| Q2 25 | $653.0M | — | ||
| Q1 25 | $654.4M | — | ||
| Q4 24 | $573.2M | — | ||
| Q3 24 | $699.4M | — | ||
| Q2 24 | $800.7M | — | ||
| Q1 24 | $1.0B | — |
| Q4 25 | $1.4B | $354.0M | ||
| Q3 25 | $1.4B | $349.2M | ||
| Q2 25 | $1.4B | $350.6M | ||
| Q1 25 | $1.4B | $362.8M | ||
| Q4 24 | $1.4B | $359.4M | ||
| Q3 24 | $1.4B | $355.5M | ||
| Q2 24 | $1.4B | $349.2M | ||
| Q1 24 | $1.5B | $344.9M |
| Q4 25 | $12.6B | $520.4M | ||
| Q3 25 | $12.4B | $499.9M | ||
| Q2 25 | $10.6B | $500.1M | ||
| Q1 25 | $10.0B | $524.0M | ||
| Q4 24 | $9.2B | $510.8M | ||
| Q3 24 | $8.9B | $502.8M | ||
| Q2 24 | $8.2B | $499.6M | ||
| Q1 24 | $7.4B | $511.6M |
| Q4 25 | 0.52× | — | ||
| Q3 25 | 0.55× | — | ||
| Q2 25 | 0.47× | — | ||
| Q1 25 | 0.47× | — | ||
| Q4 24 | 0.41× | — | ||
| Q3 24 | 0.48× | — | ||
| Q2 24 | 0.56× | — | ||
| Q1 24 | 0.67× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $134.0M | $13.2M |
| Free Cash FlowOCF − Capex | $125.9M | $13.0M |
| FCF MarginFCF / Revenue | 291.6% | 16.3% |
| Capex IntensityCapex / Revenue | 18.9% | 0.3% |
| Cash ConversionOCF / Net Profit | 2.50× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $59.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $134.0M | $13.2M | ||
| Q3 25 | $6.9M | $18.0M | ||
| Q2 25 | $39.2M | $5.0M | ||
| Q1 25 | $25.8M | $27.1M | ||
| Q4 24 | $14.1M | $11.2M | ||
| Q3 24 | $-922.0K | $19.1M | ||
| Q2 24 | $-993.0K | $6.5M | ||
| Q1 24 | $-13.1M | $20.9M |
| Q4 25 | $125.9M | $13.0M | ||
| Q3 25 | — | $17.9M | ||
| Q2 25 | — | $2.7M | ||
| Q1 25 | — | $26.0M | ||
| Q4 24 | $-10.6M | $11.0M | ||
| Q3 24 | $-8.6M | $18.8M | ||
| Q2 24 | $-8.6M | $6.3M | ||
| Q1 24 | $-19.1M | $20.2M |
| Q4 25 | 291.6% | 16.3% | ||
| Q3 25 | — | 23.4% | ||
| Q2 25 | — | 3.6% | ||
| Q1 25 | — | 35.4% | ||
| Q4 24 | -39.6% | 14.8% | ||
| Q3 24 | -42.3% | 25.8% | ||
| Q2 24 | -44.9% | 8.8% | ||
| Q1 24 | -107.0% | 27.8% |
| Q4 25 | 18.9% | 0.3% | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | 3.1% | ||
| Q1 25 | — | 1.4% | ||
| Q4 24 | 92.3% | 0.3% | ||
| Q3 24 | 37.7% | 0.4% | ||
| Q2 24 | 39.7% | 0.2% | ||
| Q1 24 | 33.5% | 1.0% |
| Q4 25 | 2.50× | — | ||
| Q3 25 | 0.15× | 2.96× | ||
| Q2 25 | 4.59× | 0.93× | ||
| Q1 25 | 0.61× | 6.25× | ||
| Q4 24 | — | — | ||
| Q3 24 | -0.02× | 3.34× | ||
| Q2 24 | — | 1.55× | ||
| Q1 24 | — | 4.01× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ADAM
| Other | $19.6M | 45% |
| Constructive Loans LLC | $14.4M | 33% |
| Multifamily | $9.1M | 21% |
HSTM
| Subscription Services | $77.0M | 97% |
| Professional Services | $2.7M | 3% |
