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Side-by-side financial comparison of HEALTHSTREAM INC (HSTM) and Velocity Financial, Inc. (VEL). Click either name above to swap in a different company.
HEALTHSTREAM INC is the larger business by last-quarter revenue ($79.7M vs $51.6M, roughly 1.5× Velocity Financial, Inc.). On growth, Velocity Financial, Inc. posted the faster year-over-year revenue change (32.8% vs 7.4%). Velocity Financial, Inc. produced more free cash flow last quarter ($17.9M vs $13.0M). Over the past eight quarters, Velocity Financial, Inc.'s revenue compounded faster (32.3% 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.
Velocity Financial, Inc. is a U.S.-headquartered real estate finance company that offers specialized mortgage loan solutions primarily for residential investment properties. It partners with independent mortgage brokers nationwide, providing real estate investors with short-term bridge loans and long-term rental property financing options tailored to their operational needs.
HSTM vs VEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $79.7M | $51.6M |
| Net Profit | — | $34.8M |
| Gross Margin | — | — |
| Operating Margin | 3.0% | 97.0% |
| Net Margin | — | 67.3% |
| Revenue YoY | 7.4% | 32.8% |
| Net Profit YoY | — | 67.0% |
| EPS (diluted) | $0.09 | $0.90 |
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 | $51.6M | ||
| Q3 25 | $76.5M | $49.1M | ||
| Q2 25 | $74.4M | $47.6M | ||
| Q1 25 | $73.5M | $37.5M | ||
| Q4 24 | $74.2M | $38.9M | ||
| Q3 24 | $73.1M | $35.1M | ||
| Q2 24 | $71.6M | $32.4M | ||
| Q1 24 | $72.8M | $29.5M |
| Q4 25 | — | $34.8M | ||
| Q3 25 | $6.1M | $25.4M | ||
| Q2 25 | $5.4M | $26.0M | ||
| Q1 25 | $4.3M | $18.9M | ||
| Q4 24 | — | $20.8M | ||
| Q3 24 | $5.7M | $15.8M | ||
| Q2 24 | $4.2M | $14.8M | ||
| Q1 24 | $5.2M | $17.3M |
| Q4 25 | 3.0% | 97.0% | ||
| Q3 25 | 9.9% | 72.1% | ||
| Q2 25 | 7.9% | 71.3% | ||
| Q1 25 | 6.0% | 71.7% | ||
| Q4 24 | 6.3% | 82.5% | ||
| Q3 24 | 8.9% | 60.6% | ||
| Q2 24 | 6.2% | 61.3% | ||
| Q1 24 | 7.8% | 78.8% |
| Q4 25 | — | 67.3% | ||
| Q3 25 | 8.0% | 51.7% | ||
| Q2 25 | 7.2% | 54.6% | ||
| Q1 25 | 5.9% | 50.4% | ||
| Q4 24 | — | 53.5% | ||
| Q3 24 | 7.8% | 45.1% | ||
| Q2 24 | 5.8% | 45.6% | ||
| Q1 24 | 7.2% | 58.5% |
| Q4 25 | $0.09 | $0.90 | ||
| Q3 25 | $0.20 | $0.65 | ||
| Q2 25 | $0.18 | $0.69 | ||
| Q1 25 | $0.14 | $0.51 | ||
| Q4 24 | $0.16 | $0.56 | ||
| Q3 24 | $0.19 | $0.44 | ||
| Q2 24 | $0.14 | $0.42 | ||
| Q1 24 | $0.17 | $0.49 |
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 | $92.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $354.0M | $672.5M |
| Total Assets | $520.4M | $7.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $36.2M | $92.1M | ||
| Q3 25 | $53.5M | $99.0M | ||
| Q2 25 | $52.1M | $79.6M | ||
| Q1 25 | $77.3M | $51.7M | ||
| Q4 24 | $59.5M | $49.9M | ||
| Q3 24 | $57.5M | $44.1M | ||
| Q2 24 | $46.1M | $47.4M | ||
| Q1 24 | $52.4M | $34.8M |
| Q4 25 | $354.0M | $672.5M | ||
| Q3 25 | $349.2M | $634.3M | ||
| Q2 25 | $350.6M | $597.9M | ||
| Q1 25 | $362.8M | $563.2M | ||
| Q4 24 | $359.4M | $516.9M | ||
| Q3 24 | $355.5M | $484.6M | ||
| Q2 24 | $349.2M | $471.3M | ||
| Q1 24 | $344.9M | $452.9M |
| Q4 25 | $520.4M | $7.4B | ||
| Q3 25 | $499.9M | $7.0B | ||
| Q2 25 | $500.1M | $6.5B | ||
| Q1 25 | $524.0M | $6.0B | ||
| Q4 24 | $510.8M | $5.5B | ||
| Q3 24 | $502.8M | $5.2B | ||
| Q2 24 | $499.6M | $4.9B | ||
| Q1 24 | $511.6M | $4.6B |
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 | $18.2M |
| Free Cash FlowOCF − Capex | $13.0M | $17.9M |
| FCF MarginFCF / Revenue | 16.3% | 34.6% |
| Capex IntensityCapex / Revenue | 0.3% | 0.5% |
| Cash ConversionOCF / Net Profit | — | 0.52× |
| TTM Free Cash FlowTrailing 4 quarters | $59.6M | $40.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.2M | $18.2M | ||
| Q3 25 | $18.0M | $11.5M | ||
| Q2 25 | $5.0M | $7.7M | ||
| Q1 25 | $27.1M | $3.5M | ||
| Q4 24 | $11.2M | $37.8M | ||
| Q3 24 | $19.1M | $-17.6M | ||
| Q2 24 | $6.5M | $11.5M | ||
| Q1 24 | $20.9M | $10.6M |
| Q4 25 | $13.0M | $17.9M | ||
| Q3 25 | $17.9M | $11.4M | ||
| Q2 25 | $2.7M | $7.6M | ||
| Q1 25 | $26.0M | $3.5M | ||
| Q4 24 | $11.0M | $37.5M | ||
| Q3 24 | $18.8M | $-17.6M | ||
| Q2 24 | $6.3M | $11.4M | ||
| Q1 24 | $20.2M | $10.5M |
| Q4 25 | 16.3% | 34.6% | ||
| Q3 25 | 23.4% | 23.2% | ||
| Q2 25 | 3.6% | 15.9% | ||
| Q1 25 | 35.4% | 9.2% | ||
| Q4 24 | 14.8% | 96.4% | ||
| Q3 24 | 25.8% | -50.3% | ||
| Q2 24 | 8.8% | 35.1% | ||
| Q1 24 | 27.8% | 35.8% |
| Q4 25 | 0.3% | 0.5% | ||
| Q3 25 | 0.1% | 0.1% | ||
| Q2 25 | 3.1% | 0.2% | ||
| Q1 25 | 1.4% | 0.2% | ||
| Q4 24 | 0.3% | 0.7% | ||
| Q3 24 | 0.4% | 0.2% | ||
| Q2 24 | 0.2% | 0.3% | ||
| Q1 24 | 1.0% | 0.1% |
| Q4 25 | — | 0.52× | ||
| Q3 25 | 2.96× | 0.45× | ||
| Q2 25 | 0.93× | 0.29× | ||
| Q1 25 | 6.25× | 0.19× | ||
| Q4 24 | — | 1.81× | ||
| Q3 24 | 3.34× | -1.11× | ||
| Q2 24 | 1.55× | 0.78× | ||
| Q1 24 | 4.01× | 0.61× |
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% |
VEL
| Related Party | $19.3M | 37% |
| Nonrelated Party | $16.9M | 33% |
| Other | $15.4M | 30% |
