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Side-by-side financial comparison of HEALTHSTREAM INC (HSTM) and Lifeway Foods, Inc. (LWAY). Click either name above to swap in a different company.
HEALTHSTREAM INC is the larger business by last-quarter revenue ($79.7M vs $55.4M, roughly 1.4× Lifeway Foods, Inc.). On growth, Lifeway Foods, Inc. posted the faster year-over-year revenue change (18.0% vs 7.4%). HEALTHSTREAM INC produced more free cash flow last quarter ($13.0M vs $-17.4M). Over the past eight quarters, Lifeway Foods, Inc.'s revenue compounded faster (11.4% 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.
Lifeway Foods is an Illinois-based health food company founded in 1986. They are a leading U.S. supplier of kefir and fermented probiotic products to support the microbiome.
HSTM vs LWAY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $79.7M | $55.4M |
| Net Profit | — | $2.5M |
| Gross Margin | — | 27.8% |
| Operating Margin | 3.0% | 6.8% |
| Net Margin | — | 4.6% |
| Revenue YoY | 7.4% | 18.0% |
| Net Profit YoY | — | 1688.1% |
| EPS (diluted) | $0.09 | $0.15 |
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 | $79.7M | $55.4M | ||
| Q3 25 | $76.5M | $57.1M | ||
| Q2 25 | $74.4M | $53.9M | ||
| Q1 25 | $73.5M | $46.1M | ||
| Q4 24 | $74.2M | $46.9M | ||
| Q3 24 | $73.1M | $46.1M | ||
| Q2 24 | $71.6M | $49.2M | ||
| Q1 24 | $72.8M | $44.6M |
| Q4 25 | — | $2.5M | ||
| Q3 25 | $6.1M | $3.5M | ||
| Q2 25 | $5.4M | $4.2M | ||
| Q1 25 | $4.3M | $3.5M | ||
| Q4 24 | — | $-160.0K | ||
| Q3 24 | $5.7M | $3.0M | ||
| Q2 24 | $4.2M | $3.8M | ||
| Q1 24 | $5.2M | $2.4M |
| Q4 25 | — | 27.8% | ||
| Q3 25 | — | 28.7% | ||
| Q2 25 | — | 28.6% | ||
| Q1 25 | — | 23.9% | ||
| Q4 24 | — | 25.3% | ||
| Q3 24 | — | 25.7% | ||
| Q2 24 | — | 27.0% | ||
| Q1 24 | — | 25.8% |
| Q4 25 | 3.0% | 6.8% | ||
| Q3 25 | 9.9% | 8.8% | ||
| Q2 25 | 7.9% | 10.8% | ||
| Q1 25 | 6.0% | 3.4% | ||
| Q4 24 | 6.3% | 1.5% | ||
| Q3 24 | 8.9% | 9.1% | ||
| Q2 24 | 6.2% | 11.0% | ||
| Q1 24 | 7.8% | 8.0% |
| Q4 25 | — | 4.6% | ||
| Q3 25 | 8.0% | 6.2% | ||
| Q2 25 | 7.2% | 7.9% | ||
| Q1 25 | 5.9% | 7.7% | ||
| Q4 24 | — | -0.3% | ||
| Q3 24 | 7.8% | 6.5% | ||
| Q2 24 | 5.8% | 7.7% | ||
| Q1 24 | 7.2% | 5.4% |
| Q4 25 | $0.09 | $0.15 | ||
| Q3 25 | $0.20 | $0.23 | ||
| Q2 25 | $0.18 | $0.28 | ||
| Q1 25 | $0.14 | $0.23 | ||
| Q4 24 | $0.16 | $0.00 | ||
| Q3 24 | $0.19 | $0.19 | ||
| Q2 24 | $0.14 | $0.25 | ||
| Q1 24 | $0.17 | $0.16 |
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 | $5.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $354.0M | $85.8M |
| Total Assets | $520.4M | $105.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $36.2M | $5.6M | ||
| Q3 25 | $53.5M | $23.0M | ||
| Q2 25 | $52.1M | $21.2M | ||
| Q1 25 | $77.3M | $19.4M | ||
| Q4 24 | $59.5M | $16.7M | ||
| Q3 24 | $57.5M | $20.6M | ||
| Q2 24 | $46.1M | $14.6M | ||
| Q1 24 | $52.4M | $12.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $2.5M |
| Q4 25 | $354.0M | $85.8M | ||
| Q3 25 | $349.2M | $82.8M | ||
| Q2 25 | $350.6M | $78.7M | ||
| Q1 25 | $362.8M | $74.2M | ||
| Q4 24 | $359.4M | $71.9M | ||
| Q3 24 | $355.5M | $71.5M | ||
| Q2 24 | $349.2M | $68.0M | ||
| Q1 24 | $344.9M | $63.5M |
| Q4 25 | $520.4M | $105.6M | ||
| Q3 25 | $499.9M | $109.5M | ||
| Q2 25 | $500.1M | $98.3M | ||
| Q1 25 | $524.0M | $93.7M | ||
| Q4 24 | $510.8M | $90.5M | ||
| Q3 24 | $502.8M | $91.3M | ||
| Q2 24 | $499.6M | $84.9M | ||
| Q1 24 | $511.6M | $82.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.04× |
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 | $267.0K |
| Free Cash FlowOCF − Capex | $13.0M | $-17.4M |
| FCF MarginFCF / Revenue | 16.3% | -31.5% |
| Capex IntensityCapex / Revenue | 0.3% | 31.9% |
| Cash ConversionOCF / Net Profit | — | 0.11× |
| TTM Free Cash FlowTrailing 4 quarters | $59.6M | $-16.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.2M | $267.0K | ||
| Q3 25 | $18.0M | $6.9M | ||
| Q2 25 | $5.0M | $3.9M | ||
| Q1 25 | $27.1M | $-150.0K | ||
| Q4 24 | $11.2M | $-2.6M | ||
| Q3 24 | $19.1M | $7.5M | ||
| Q2 24 | $6.5M | $6.5M | ||
| Q1 24 | $20.9M | $1.5M |
| Q4 25 | $13.0M | $-17.4M | ||
| Q3 25 | $17.9M | $1.8M | ||
| Q2 25 | $2.7M | $1.6M | ||
| Q1 25 | $26.0M | $-2.4M | ||
| Q4 24 | $11.0M | $-3.8M | ||
| Q3 24 | $18.8M | $5.9M | ||
| Q2 24 | $6.3M | $5.1M | ||
| Q1 24 | $20.2M | $-923.0K |
| Q4 25 | 16.3% | -31.5% | ||
| Q3 25 | 23.4% | 3.1% | ||
| Q2 25 | 3.6% | 3.0% | ||
| Q1 25 | 35.4% | -5.1% | ||
| Q4 24 | 14.8% | -8.2% | ||
| Q3 24 | 25.8% | 12.8% | ||
| Q2 24 | 8.8% | 10.4% | ||
| Q1 24 | 27.8% | -2.1% |
| Q4 25 | 0.3% | 31.9% | ||
| Q3 25 | 0.1% | 9.0% | ||
| Q2 25 | 3.1% | 4.3% | ||
| Q1 25 | 1.4% | 4.8% | ||
| Q4 24 | 0.3% | 2.7% | ||
| Q3 24 | 0.4% | 3.3% | ||
| Q2 24 | 0.2% | 2.9% | ||
| Q1 24 | 1.0% | 5.5% |
| Q4 25 | — | 0.11× | ||
| Q3 25 | 2.96× | 1.96× | ||
| Q2 25 | 0.93× | 0.92× | ||
| Q1 25 | 6.25× | -0.04× | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.34× | 2.50× | ||
| Q2 24 | 1.55× | 1.73× | ||
| Q1 24 | 4.01× | 0.64× |
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% |
LWAY
| Drinkable Kefirotherthan Pro Bugs | $47.8M | 86% |
| Cheese | $4.7M | 8% |
| Cream And Other | $1.7M | 3% |
| Other | $1.2M | 2% |
