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Side-by-side financial comparison of HEALTHSTREAM INC (HSTM) and P10, Inc. (PX). Click either name above to swap in a different company.
P10, Inc. is the larger business by last-quarter revenue ($81.0M vs $79.7M, roughly 1.0× HEALTHSTREAM INC). On growth, HEALTHSTREAM INC posted the faster year-over-year revenue change (7.4% vs -4.7%). P10, Inc. produced more free cash flow last quarter ($18.1M vs $13.0M). Over the past eight quarters, P10, Inc.'s revenue compounded faster (10.7% 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.
P10, Inc. is a global alternative investment management firm that offers a diversified portfolio of investment solutions spanning private equity, private credit, real assets and venture capital. It primarily caters to institutional clients including pension funds, endowments, foundations, and high-net-worth individuals across North America, Europe, and Asia Pacific.
HSTM vs PX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $79.7M | $81.0M |
| Net Profit | — | $9.5M |
| Gross Margin | — | — |
| Operating Margin | 3.0% | 31.9% |
| Net Margin | — | 11.7% |
| Revenue YoY | 7.4% | -4.7% |
| Net Profit YoY | — | 79.0% |
| EPS (diluted) | $0.09 | $0.08 |
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 | $81.0M | ||
| Q3 25 | $76.5M | $75.9M | ||
| Q2 25 | $74.4M | $72.7M | ||
| Q1 25 | $73.5M | $67.7M | ||
| Q4 24 | $74.2M | $85.0M | ||
| Q3 24 | $73.1M | $74.2M | ||
| Q2 24 | $71.6M | $71.1M | ||
| Q1 24 | $72.8M | $66.1M |
| Q4 25 | — | $9.5M | ||
| Q3 25 | $6.1M | $2.1M | ||
| Q2 25 | $5.4M | $3.4M | ||
| Q1 25 | $4.3M | $4.5M | ||
| Q4 24 | — | $5.3M | ||
| Q3 24 | $5.7M | $1.4M | ||
| Q2 24 | $4.2M | $7.0M | ||
| Q1 24 | $5.2M | $5.0M |
| Q4 25 | 3.0% | 31.9% | ||
| Q3 25 | 9.9% | 14.1% | ||
| Q2 25 | 7.9% | 24.4% | ||
| Q1 25 | 6.0% | 16.6% | ||
| Q4 24 | 6.3% | 26.9% | ||
| Q3 24 | 8.9% | 11.9% | ||
| Q2 24 | 6.2% | 23.7% | ||
| Q1 24 | 7.8% | 18.3% |
| Q4 25 | — | 11.7% | ||
| Q3 25 | 8.0% | 2.8% | ||
| Q2 25 | 7.2% | 4.7% | ||
| Q1 25 | 5.9% | 6.7% | ||
| Q4 24 | — | 6.2% | ||
| Q3 24 | 7.8% | 1.9% | ||
| Q2 24 | 5.8% | 9.8% | ||
| Q1 24 | 7.2% | 7.6% |
| Q4 25 | $0.09 | $0.08 | ||
| Q3 25 | $0.20 | $0.02 | ||
| Q2 25 | $0.18 | $0.03 | ||
| Q1 25 | $0.14 | $0.04 | ||
| Q4 24 | $0.16 | $0.05 | ||
| Q3 24 | $0.19 | $0.01 | ||
| Q2 24 | $0.14 | $0.06 | ||
| Q1 24 | $0.17 | $0.04 |
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 | $28.2M |
| Total DebtLower is stronger | — | $373.2M |
| Stockholders' EquityBook value | $354.0M | $403.5M |
| Total Assets | $520.4M | $928.3M |
| Debt / EquityLower = less leverage | — | 0.93× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $36.2M | $28.2M | ||
| Q3 25 | $53.5M | $40.0M | ||
| Q2 25 | $52.1M | $33.4M | ||
| Q1 25 | $77.3M | $74.4M | ||
| Q4 24 | $59.5M | $67.5M | ||
| Q3 24 | $57.5M | $61.5M | ||
| Q2 24 | $46.1M | $31.2M | ||
| Q1 24 | $52.4M | $29.0M |
| Q4 25 | — | $373.2M | ||
| Q3 25 | — | $393.4M | ||
| Q2 25 | — | $373.0M | ||
| Q1 25 | — | $357.2M | ||
| Q4 24 | — | $319.8M | ||
| Q3 24 | — | $319.4M | ||
| Q2 24 | — | $300.6M | ||
| Q1 24 | — | $314.0M |
| Q4 25 | $354.0M | $403.5M | ||
| Q3 25 | $349.2M | $396.8M | ||
| Q2 25 | $350.6M | $388.9M | ||
| Q1 25 | $362.8M | $374.3M | ||
| Q4 24 | $359.4M | $386.9M | ||
| Q3 24 | $355.5M | $394.1M | ||
| Q2 24 | $349.2M | $396.9M | ||
| Q1 24 | $344.9M | $400.1M |
| Q4 25 | $520.4M | $928.3M | ||
| Q3 25 | $499.9M | $936.0M | ||
| Q2 25 | $500.1M | $932.2M | ||
| Q1 25 | $524.0M | $877.4M | ||
| Q4 24 | $510.8M | $869.3M | ||
| Q3 24 | $502.8M | $857.0M | ||
| Q2 24 | $499.6M | $823.2M | ||
| Q1 24 | $511.6M | $832.8M |
| Q4 25 | — | 0.93× | ||
| Q3 25 | — | 0.99× | ||
| Q2 25 | — | 0.96× | ||
| Q1 25 | — | 0.95× | ||
| Q4 24 | — | 0.83× | ||
| Q3 24 | — | 0.81× | ||
| Q2 24 | — | 0.76× | ||
| Q1 24 | — | 0.78× |
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 | $23.0M |
| Free Cash FlowOCF − Capex | $13.0M | $18.1M |
| FCF MarginFCF / Revenue | 16.3% | 22.3% |
| Capex IntensityCapex / Revenue | 0.3% | 6.0% |
| Cash ConversionOCF / Net Profit | — | 2.43× |
| TTM Free Cash FlowTrailing 4 quarters | $59.6M | $14.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.2M | $23.0M | ||
| Q3 25 | $18.0M | $-8.6M | ||
| Q2 25 | $5.0M | $13.4M | ||
| Q1 25 | $27.1M | $-4.7M | ||
| Q4 24 | $11.2M | $101.0M | ||
| Q3 24 | $19.1M | $27.5M | ||
| Q2 24 | $6.5M | $34.8M | ||
| Q1 24 | $20.9M | $11.0M |
| Q4 25 | $13.0M | $18.1M | ||
| Q3 25 | $17.9M | $-9.5M | ||
| Q2 25 | $2.7M | $11.6M | ||
| Q1 25 | $26.0M | $-6.0M | ||
| Q4 24 | $11.0M | $96.6M | ||
| Q3 24 | $18.8M | $25.2M | ||
| Q2 24 | $6.3M | $33.9M | ||
| Q1 24 | $20.2M | $10.7M |
| Q4 25 | 16.3% | 22.3% | ||
| Q3 25 | 23.4% | -12.6% | ||
| Q2 25 | 3.6% | 15.9% | ||
| Q1 25 | 35.4% | -8.9% | ||
| Q4 24 | 14.8% | 113.6% | ||
| Q3 24 | 25.8% | 34.0% | ||
| Q2 24 | 8.8% | 47.7% | ||
| Q1 24 | 27.8% | 16.2% |
| Q4 25 | 0.3% | 6.0% | ||
| Q3 25 | 0.1% | 1.2% | ||
| Q2 25 | 3.1% | 2.5% | ||
| Q1 25 | 1.4% | 1.9% | ||
| Q4 24 | 0.3% | 5.2% | ||
| Q3 24 | 0.4% | 3.0% | ||
| Q2 24 | 0.2% | 1.3% | ||
| Q1 24 | 1.0% | 0.4% |
| Q4 25 | — | 2.43× | ||
| Q3 25 | 2.96× | -4.01× | ||
| Q2 25 | 0.93× | 3.96× | ||
| Q1 25 | 6.25× | -1.05× | ||
| Q4 24 | — | 19.12× | ||
| Q3 24 | 3.34× | 19.54× | ||
| Q2 24 | 1.55× | 4.98× | ||
| Q1 24 | 4.01× | 2.18× |
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% |
PX
| Management Fees | $78.1M | 96% |
| Advisory Fees | $1.8M | 2% |
