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Side-by-side financial comparison of HEALTHSTREAM INC (HSTM) and LandBridge Co LLC (LB). Click either name above to swap in a different company.
HEALTHSTREAM INC is the larger business by last-quarter revenue ($79.7M vs $51.0M, roughly 1.6× LandBridge Co LLC). On growth, LandBridge Co LLC posted the faster year-over-year revenue change (16.0% vs 7.4%). LandBridge Co LLC produced more free cash flow last quarter ($40.9M vs $13.0M). Over the past eight quarters, LandBridge Co LLC's revenue compounded faster (40.2% 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.
HSTM vs LB — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $79.7M | $51.0M |
| Net Profit | — | $17.9M |
| Gross Margin | — | — |
| Operating Margin | 3.0% | 57.2% |
| Net Margin | — | 35.0% |
| Revenue YoY | 7.4% | 16.0% |
| Net Profit YoY | — | 15.6% |
| EPS (diluted) | $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.
| Q1 26 | — | $51.0M | ||
| Q4 25 | $79.7M | $56.8M | ||
| Q3 25 | $76.5M | $50.8M | ||
| Q2 25 | $74.4M | $47.5M | ||
| Q1 25 | $73.5M | $44.0M | ||
| Q4 24 | $74.2M | $36.5M | ||
| Q3 24 | $73.1M | $28.5M | ||
| Q2 24 | $71.6M | $26.0M |
| Q1 26 | — | $17.9M | ||
| Q4 25 | — | $8.1M | ||
| Q3 25 | $6.1M | $8.1M | ||
| Q2 25 | $5.4M | $7.5M | ||
| Q1 25 | $4.3M | $6.5M | ||
| Q4 24 | — | $49.3M | ||
| Q3 24 | $5.7M | $2.7M | ||
| Q2 24 | $4.2M | $-57.7M |
| Q1 26 | — | 57.2% | ||
| Q4 25 | 3.0% | 60.0% | ||
| Q3 25 | 9.9% | 60.8% | ||
| Q2 25 | 7.9% | 60.0% | ||
| Q1 25 | 6.0% | 57.0% | ||
| Q4 24 | 6.3% | 49.4% | ||
| Q3 24 | 8.9% | 11.2% | ||
| Q2 24 | 6.2% | -197.4% |
| Q1 26 | — | 35.0% | ||
| Q4 25 | — | 14.2% | ||
| Q3 25 | 8.0% | 15.9% | ||
| Q2 25 | 7.2% | 15.8% | ||
| Q1 25 | 5.9% | 14.7% | ||
| Q4 24 | — | 135.2% | ||
| Q3 24 | 7.8% | 9.3% | ||
| Q2 24 | 5.8% | -222.1% |
| Q1 26 | — | — | ||
| Q4 25 | $0.09 | $0.24 | ||
| Q3 25 | $0.20 | $0.26 | ||
| Q2 25 | $0.18 | $0.24 | ||
| Q1 25 | $0.14 | $0.20 | ||
| Q4 24 | $0.16 | — | ||
| Q3 24 | $0.19 | $-0.04 | ||
| Q2 24 | $0.14 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $36.2M | $29.7M |
| Total DebtLower is stronger | — | $433.0K |
| Stockholders' EquityBook value | $354.0M | — |
| Total Assets | $520.4M | $1.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $29.7M | ||
| Q4 25 | $36.2M | $30.7M | ||
| Q3 25 | $53.5M | $28.3M | ||
| Q2 25 | $52.1M | $20.3M | ||
| Q1 25 | $77.3M | $14.9M | ||
| Q4 24 | $59.5M | $37.0M | ||
| Q3 24 | $57.5M | $14.4M | ||
| Q2 24 | $46.1M | $24.6M |
| Q1 26 | — | $433.0K | ||
| Q4 25 | — | $570.7M | ||
| Q3 25 | — | $366.1M | ||
| Q2 25 | — | $370.9M | ||
| Q1 25 | — | $375.5M | ||
| Q4 24 | — | $385.5M | ||
| Q3 24 | — | $242.4M | ||
| Q2 24 | — | $360.8M |
| Q1 26 | — | — | ||
| Q4 25 | $354.0M | $340.3M | ||
| Q3 25 | $349.2M | $272.0M | ||
| Q2 25 | $350.6M | $266.4M | ||
| Q1 25 | $362.8M | $217.0M | ||
| Q4 24 | $359.4M | $211.8M | ||
| Q3 24 | $355.5M | $97.2M | ||
| Q2 24 | $349.2M | $296.4M |
| Q1 26 | — | $1.4B | ||
| Q4 25 | $520.4M | $1.4B | ||
| Q3 25 | $499.9M | $1.1B | ||
| Q2 25 | $500.1M | $1.1B | ||
| Q1 25 | $524.0M | $1.0B | ||
| Q4 24 | $510.8M | $1.0B | ||
| Q3 24 | $502.8M | $689.9M | ||
| Q2 24 | $499.6M | $710.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.68× | ||
| Q3 25 | — | 1.35× | ||
| Q2 25 | — | 1.39× | ||
| Q1 25 | — | 1.73× | ||
| Q4 24 | — | 1.82× | ||
| Q3 24 | — | 2.49× | ||
| Q2 24 | — | 1.22× |
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 | $13.2M | $41.1M |
| Free Cash FlowOCF − Capex | $13.0M | $40.9M |
| FCF MarginFCF / Revenue | 16.3% | 80.3% |
| Capex IntensityCapex / Revenue | 0.3% | — |
| Cash ConversionOCF / Net Profit | — | 2.30× |
| TTM Free Cash FlowTrailing 4 quarters | $59.6M | $232.8M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $41.1M | ||
| Q4 25 | $13.2M | $126.3M | ||
| Q3 25 | $18.0M | $34.9M | ||
| Q2 25 | $5.0M | $37.3M | ||
| Q1 25 | $27.1M | $15.9M | ||
| Q4 24 | $11.2M | $67.6M | ||
| Q3 24 | $19.1M | $7.5M | ||
| Q2 24 | $6.5M | $16.0M |
| Q1 26 | — | $40.9M | ||
| Q4 25 | $13.0M | $122.0M | ||
| Q3 25 | $17.9M | $33.7M | ||
| Q2 25 | $2.7M | $36.1M | ||
| Q1 25 | $26.0M | $15.8M | ||
| Q4 24 | $11.0M | $66.7M | ||
| Q3 24 | $18.8M | $7.1M | ||
| Q2 24 | $6.3M | $15.7M |
| Q1 26 | — | 80.3% | ||
| Q4 25 | 16.3% | 214.9% | ||
| Q3 25 | 23.4% | 66.3% | ||
| Q2 25 | 3.6% | 75.9% | ||
| Q1 25 | 35.4% | 36.0% | ||
| Q4 24 | 14.8% | 182.6% | ||
| Q3 24 | 25.8% | 25.1% | ||
| Q2 24 | 8.8% | 60.4% |
| Q1 26 | — | — | ||
| Q4 25 | 0.3% | 7.5% | ||
| Q3 25 | 0.1% | 2.3% | ||
| Q2 25 | 3.1% | 2.6% | ||
| Q1 25 | 1.4% | 0.2% | ||
| Q4 24 | 0.3% | 2.7% | ||
| Q3 24 | 0.4% | 1.1% | ||
| Q2 24 | 0.2% | 1.4% |
| Q1 26 | — | 2.30× | ||
| Q4 25 | — | 15.68× | ||
| Q3 25 | 2.96× | 4.31× | ||
| Q2 25 | 0.93× | 4.98× | ||
| Q1 25 | 6.25× | 2.46× | ||
| Q4 24 | — | 1.37× | ||
| Q3 24 | 3.34× | 2.80× | ||
| Q2 24 | 1.55× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HSTM
| Subscription Services | $77.0M | 97% |
| Professional Services | $2.7M | 3% |
LB
| Other | $14.2M | 28% |
| Easements and other surface-related revenues | $11.6M | 23% |
| Surface use royalties - related party | $11.0M | 22% |
| Resource sales | $5.2M | 10% |
| Resource royalties | $4.3M | 8% |
| Easements and other surface-related revenues - related party | $3.2M | 6% |
| Resource royalties - related party | $1.3M | 2% |
| Resource sales - related party | $205.0K | 0% |
