vs
Side-by-side financial comparison of HEALTHSTREAM INC (HSTM) and Vericel Corp (VCEL). Click either name above to swap in a different company.
Vericel Corp is the larger business by last-quarter revenue ($92.9M vs $79.7M, roughly 1.2× HEALTHSTREAM INC). On growth, Vericel Corp posted the faster year-over-year revenue change (23.3% vs 7.4%). HEALTHSTREAM INC produced more free cash flow last quarter ($13.0M vs $12.8M). Over the past eight quarters, Vericel Corp's revenue compounded faster (34.6% 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.
Vericel Corporation is a publicly traded American biopharmaceutical company which was known prior to October 2014 as Aastrom Bio. Aastrom Bio was formed in 1989 in Ann Arbor, Michigan.
HSTM vs VCEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $79.7M | $92.9M |
| Net Profit | — | $23.2M |
| Gross Margin | — | 78.7% |
| Operating Margin | 3.0% | 24.1% |
| Net Margin | — | 25.0% |
| Revenue YoY | 7.4% | 23.3% |
| Net Profit YoY | — | 17.3% |
| EPS (diluted) | $0.09 | $0.46 |
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 | $92.9M | ||
| Q3 25 | $76.5M | $67.5M | ||
| Q2 25 | $74.4M | $63.2M | ||
| Q1 25 | $73.5M | $52.6M | ||
| Q4 24 | $74.2M | $75.4M | ||
| Q3 24 | $73.1M | $57.9M | ||
| Q2 24 | $71.6M | $52.7M | ||
| Q1 24 | $72.8M | $51.3M |
| Q4 25 | — | $23.2M | ||
| Q3 25 | $6.1M | $5.1M | ||
| Q2 25 | $5.4M | $-553.0K | ||
| Q1 25 | $4.3M | $-11.2M | ||
| Q4 24 | — | $19.8M | ||
| Q3 24 | $5.7M | $-901.0K | ||
| Q2 24 | $4.2M | $-4.7M | ||
| Q1 24 | $5.2M | $-3.9M |
| Q4 25 | — | 78.7% | ||
| Q3 25 | — | 73.5% | ||
| Q2 25 | — | 73.7% | ||
| Q1 25 | — | 69.0% | ||
| Q4 24 | — | 77.6% | ||
| Q3 24 | — | 71.9% | ||
| Q2 24 | — | 69.5% | ||
| Q1 24 | — | 68.9% |
| Q4 25 | 3.0% | 24.1% | ||
| Q3 25 | 9.9% | 5.1% | ||
| Q2 25 | 7.9% | -3.2% | ||
| Q1 25 | 6.0% | -24.3% | ||
| Q4 24 | 6.3% | 24.5% | ||
| Q3 24 | 8.9% | -4.3% | ||
| Q2 24 | 6.2% | -11.5% | ||
| Q1 24 | 7.8% | -10.7% |
| Q4 25 | — | 25.0% | ||
| Q3 25 | 8.0% | 7.5% | ||
| Q2 25 | 7.2% | -0.9% | ||
| Q1 25 | 5.9% | -21.4% | ||
| Q4 24 | — | 26.3% | ||
| Q3 24 | 7.8% | -1.6% | ||
| Q2 24 | 5.8% | -8.9% | ||
| Q1 24 | 7.2% | -7.5% |
| Q4 25 | $0.09 | $0.46 | ||
| Q3 25 | $0.20 | $0.10 | ||
| Q2 25 | $0.18 | $-0.01 | ||
| Q1 25 | $0.14 | $-0.23 | ||
| Q4 24 | $0.16 | $0.40 | ||
| Q3 24 | $0.19 | $-0.02 | ||
| Q2 24 | $0.14 | $-0.10 | ||
| Q1 24 | $0.17 | $-0.08 |
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 | $137.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $354.0M | $354.6M |
| Total Assets | $520.4M | $488.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $36.2M | $137.5M | ||
| Q3 25 | $53.5M | $135.4M | ||
| Q2 25 | $52.1M | $116.9M | ||
| Q1 25 | $77.3M | $112.9M | ||
| Q4 24 | $59.5M | $116.2M | ||
| Q3 24 | $57.5M | $101.7M | ||
| Q2 24 | $46.1M | $102.5M | ||
| Q1 24 | $52.4M | $110.6M |
| Q4 25 | $354.0M | $354.6M | ||
| Q3 25 | $349.2M | $321.9M | ||
| Q2 25 | $350.6M | $306.8M | ||
| Q1 25 | $362.8M | $295.5M | ||
| Q4 24 | $359.4M | $292.0M | ||
| Q3 24 | $355.5M | $257.5M | ||
| Q2 24 | $349.2M | $243.0M | ||
| Q1 24 | $344.9M | $233.9M |
| Q4 25 | $520.4M | $488.0M | ||
| Q3 25 | $499.9M | $453.3M | ||
| Q2 25 | $500.1M | $435.6M | ||
| Q1 25 | $524.0M | $424.6M | ||
| Q4 24 | $510.8M | $432.7M | ||
| Q3 24 | $502.8M | $390.4M | ||
| Q2 24 | $499.6M | $376.8M | ||
| Q1 24 | $511.6M | $356.7M |
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 | $15.0M |
| Free Cash FlowOCF − Capex | $13.0M | $12.8M |
| FCF MarginFCF / Revenue | 16.3% | 13.8% |
| Capex IntensityCapex / Revenue | 0.3% | 2.4% |
| Cash ConversionOCF / Net Profit | — | 0.65× |
| TTM Free Cash FlowTrailing 4 quarters | $59.6M | $24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.2M | $15.0M | ||
| Q3 25 | $18.0M | $22.1M | ||
| Q2 25 | $5.0M | $8.2M | ||
| Q1 25 | $27.1M | $6.6M | ||
| Q4 24 | $11.2M | $22.2M | ||
| Q3 24 | $19.1M | $10.2M | ||
| Q2 24 | $6.5M | $18.5M | ||
| Q1 24 | $20.9M | $7.2M |
| Q4 25 | $13.0M | $12.8M | ||
| Q3 25 | $17.9M | $19.5M | ||
| Q2 25 | $2.7M | $81.0K | ||
| Q1 25 | $26.0M | $-7.6M | ||
| Q4 24 | $11.0M | $8.5M | ||
| Q3 24 | $18.8M | $-9.2M | ||
| Q2 24 | $6.3M | $1.8M | ||
| Q1 24 | $20.2M | $-6.8M |
| Q4 25 | 16.3% | 13.8% | ||
| Q3 25 | 23.4% | 28.8% | ||
| Q2 25 | 3.6% | 0.1% | ||
| Q1 25 | 35.4% | -14.5% | ||
| Q4 24 | 14.8% | 11.2% | ||
| Q3 24 | 25.8% | -15.9% | ||
| Q2 24 | 8.8% | 3.4% | ||
| Q1 24 | 27.8% | -13.3% |
| Q4 25 | 0.3% | 2.4% | ||
| Q3 25 | 0.1% | 3.9% | ||
| Q2 25 | 3.1% | 12.9% | ||
| Q1 25 | 1.4% | 27.0% | ||
| Q4 24 | 0.3% | 18.3% | ||
| Q3 24 | 0.4% | 33.5% | ||
| Q2 24 | 0.2% | 31.8% | ||
| Q1 24 | 1.0% | 27.3% |
| Q4 25 | — | 0.65× | ||
| Q3 25 | 2.96× | 4.35× | ||
| Q2 25 | 0.93× | — | ||
| Q1 25 | 6.25× | — | ||
| Q4 24 | — | 1.12× | ||
| Q3 24 | 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
HSTM
| Subscription Services | $77.0M | 97% |
| Professional Services | $2.7M | 3% |
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
