Businesswire  | 
aufrufe Aufrufe: 72

NRC Health Announces Fourth Quarter 2025 Results

National Research Corporation, dba NRC Health, (NASDAQ: NRC), a leader in healthcare experience improvement solutions, today announced results for the fourth quarter 2025.

play Anhören
share Teilen
feedback Feedback
copy Kopieren
newsletter
font_big Schrift vergrößern
NRC HEALTH CORP. 17,39 $ NRC HEALTH CORP. Chart +5,65%
Zugehörige Wertpapiere:

“Our fourth quarter results reflect the strong, disciplined execution happening across NRC Health and the deep trust our customers place in us,” said Trent Green, CEO of NRC Health. “With TRCV reaching $144 million and momentum building across our portfolio, we finished the year with a strong foundation for continued execution. As healthcare leaders navigate unprecedented complexity, our mission—turning human understanding into meaningful, measurable action—has never been more essential. I’m incredibly proud of our teams and energized by the opportunity ahead as we continue helping our partners elevate the experiences of the people they serve.”

Fourth Quarter 2025 Highlights

  • Revenue: Total revenue was $35.2 million for the three months ended December 31, 2025, up 2% quarter-over-quarter
  • Net Income: GAAP net income was $1.8 million, representing 5% of revenue, and Adjusted Net Income* was $3.4 million, representing 10% of revenue
  • Adjusted EBITDA: Adjusted EBITDA* was $8.7 million, representing 25% of revenue
  • Earnings Per Share: GAAP net income per fully diluted share was $0.08 on 21.8 million fully diluted shares; Adjusted net income per diluted share* was $0.16 on 21.8 million fully diluted shares
  • Cash Flow: Net cash from operating activities was $7.2 million, representing 20% of revenue
  • TRCV: Total Recurring Contract Value (TRCV)* was $144.1 million, up 8% year-over-year, and grew sequentially for the fifth consecutive quarter

Full-Year 2025 Highlights

  • Revenue: Total revenue was $137.4 million for the year ended December 31, 2025
  • Net Income: GAAP net income was $11.6 million, representing 8% of revenue, and Adjusted Net Income* was $20.7 million, representing 15% of revenue
  • Adjusted EBITDA: Adjusted EBITDA* was $40.2 million, representing 29% of revenue
  • Earnings Per Share: GAAP net income per fully diluted share was $0.50 on 22.4 million fully diluted shares; Adjusted net income per diluted share* was $0.93 on 22.4 million fully diluted shares
  • Cash Flow: Net cash from operating activities was $26.5 million, representing 19% of revenue

* These financial measures are defined below under the headings “Non-GAAP Financial Measures” and “Total Recurring Contract Value.” Reconciliations of the non-GAAP measures to their most closely comparable GAAP measures are included in the tables in this release.

Dividend Declaration

The Company’s Board of Directors on January 21, 2026, declared a quarterly cash dividend of $0.16 per share. The dividend will be payable on Friday, April 10, 2026, to shareholders of record as of the close of business on Friday, March 27, 2026.

Earnings Call Information

The company will be hosting a conference call to discuss the financial results on Tuesday, February 3, 2026, at 4:30 p.m. ET. A live webcast and replay of the call will be available on the NRC Health Investor Relations website at nrchealth.com/investor-relations.

About NRC Health

For more than 40 years, NRC Health (NASDAQ: NRC) has led the charge to humanize healthcare and support organizations in their understanding of each unique individual. NRC Health’s commitment to Human Understanding® helps leading healthcare systems get to know the patients, families, consumers, employees, and communities they serve on a human level. Guided by its uniquely empathic heritage, human-centered approach, unmatched national market research, and emphasis on consumer preferences, NRC Health is transforming the healthcare experience, creating strong outcomes across the healthcare journey. For more information, email info@nrchealth.com, or visit www.nrchealth.com.

Total Recurring Contract Value

Total Recurring Contract Value, or TRCV, is a measure of revenue expected under our renewable contracts for their respective annual renewal periods and is viewed by management as a projection of our subscription revenue for the next 12-month period.

Non-GAAP Financial Measures

In addition to consolidated GAAP financial measures, NRC Health reviews various non-GAAP financial measures that management believes to be important in the evaluation of its operating results and performance, including “Adjusted Net Income,” “Adjusted Earnings per Share,” and “Adjusted EBITDA.” Reconciliations of GAAP to non-GAAP financial information are provided later in this release. NRC Health believes Adjusted Net Income, Adjusted Earnings per Share, and Adjusted EBITDA are helpful supplemental measures to assist management and investors in evaluating the Company’s operating results as (i) they exclude certain items that are unusual in nature or whose fluctuation from period to period do not necessarily correspond to changes in the operations of NRC Health’s business, and (ii) the exclusion of non-cash stock compensation is useful for investors applying certain valuation metrics and is consistent with the leverage ratio for our credit facility. Adjusted Net Income represents net income adjusted to add back certain non-recurring executive compensation and non-cash stock compensation and the related tax. Adjusted EBITDA represents net income before interest, taxes, depreciation, amortization and certain non-recurring executive compensation and non-cash stock compensation items. There is no comprehensive, authoritative guidance for the presentation of such non-GAAP information, which is only meant to supplement GAAP results by providing additional information that management utilizes to assess performance.

Forward-Looking Statements

This press release contains certain statements that may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are subject to the safe harbor created by those sections and the Private Securities Litigation Reform Act of 1995, as amended. Such statements may be identified by their use of terms or phrases such as “believes,” “expect,” “focus,” “potential,” “will,” derivations thereof, and similar terms and phrases. In this press release, the statements related to future dividends are forward-looking statements. Forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, which could cause future events and actual results to differ materially from those set forth in, contemplated by, or underlying the forward-looking statements, including those risks and uncertainties as set forth in the Risk Factors section of our Annual Report on Form 10-K for the year ended December 31, 2024, and various disclosures in our press releases, stockholder reports, and other filings with the Securities and Exchange Commission. We disclaim any obligation to update or revise any forward-looking statements to reflect actual results or changes in the factors affecting the forward-looking information.

NATIONAL RESEARCH CORPORATION AND SUBSIDIARY

Condensed Consolidated Statements of Income

(In thousands except per share data, unaudited)

 

 

 

Three months ended
December 31,

 

 

Twelve months ended
December 31,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

35,193

 

 

36,907

 

 

137,390

 

 

143,060

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Direct

 

 

13,936

 

 

 

14,350

 

 

 

52,371

 

 

 

56,933

 

Selling, general and administrative

 

 

14,444

 

 

 

11,452

 

 

 

54,805

 

 

 

44,911

 

Depreciation and amortization

 

 

2,145

 

 

 

1,516

 

 

 

7,624

 

 

 

6,022

 

Total operating expenses

 

 

30,525

 

 

 

27,318

 

 

 

114,800

 

 

 

107,866

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income

 

 

4,668

 

 

 

9,589

 

 

 

22,590

 

 

 

35,194

 

Other income (expense):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

 

30

 

 

 

22

 

 

 

111

 

 

 

125

 

Interest expense

 

 

(1,370

 

 

(729

 

 

(4,762

 

 

(2,595

Other, net

 

 

(61

 

 

(6

 

 

(95

 

 

(34

Total other expense

 

 

(1,401

 

 

(713

 

 

(4,746

 

 

(2,504

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income before income taxes

 

 

3,268

 

 

 

8,876

 

 

 

17,844

 

 

 

32,690

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provision for income taxes

 

 

1,471

 

 

 

2,315

 

 

 

6,244

 

 

 

7,907

 

Net income

 

1,797

 

 

6,561

 

 

11,600

 

 

24,783

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share of common stock:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

0.08

 

 

0.28

 

 

0.50

 

 

1.05

 

Diluted

 

0.08

 

 

0.28

 

 

0.50

 

 

1.04

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares and share equivalents outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

21,786

 

 

 

23,354

 

 

 

22,383

 

 

 

23,703

 

Diluted

 

 

21,807

 

 

 

23,366

 

 

 

22,396

 

 

 

23,743

 

NATIONAL RESEARCH CORPORATION AND SUBSIDIARY

Condensed Consolidated Balance Sheets

(Dollars in thousands except share amounts and par value, unaudited)

 

 

 

 

2025

 

 

 

2024

 

 

 

 

 

 

 

 

 

Assets

 

 

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

4,139

 

 

4,233

 

Accounts receivable, net

 

 

11,108

 

 

 

11,054

 

Other current assets

 

 

4,962

 

 

 

4,313

 

Total current assets

 

 

20,209

 

 

 

19,600

 

 

 

 

 

 

 

 

 

 

Property and equipment, net

 

 

40,474

 

 

 

38,269

 

Goodwill

 

 

66,152

 

 

 

66,152

 

Other, net

 

 

8,043

 

 

 

8,518

 

Total assets

 

134,878

 

 

132,539

 

 

 

 

 

 

 

 

 

 

Liabilities and Shareholders’ Equity

 

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

 

Current portion of notes payable, net of unamortized debt issuance costs

 

4,014

 

 

4,789

 

Accounts payable and accrued expenses

 

 

4,066

 

 

 

6,285

 

Accrued wages and bonuses

 

 

7,218

 

 

 

4,774

 

Deferred revenue

 

 

16,201

 

 

 

15,786

 

Dividends payable

 

 

3,625

 

 

 

2,770

 

Other current liabilities

 

 

1,496

 

 

 

1,454

 

Total current liabilities

 

 

36,620

 

 

 

35,858

 

 

 

 

 

 

 

 

 

 

Notes payable, net of current portion and unamortized debt issuance costs

 

 

75,021

 

 

 

57,895

 

Other non-current liabilities

 

 

9,247

 

 

 

7,502

 

Total liabilities

 

 

120,888

 

 

 

101,255

 

 

 

 

 

 

 

 

 

 

Shareholders’ equity:

 

 

 

 

 

 

 

 

Preferred stock, $0.01 par value, authorized 2,000,000 shares, none issued

 

 

 

 

 

 

Common stock, $0.001 par value; authorized 110,000,000 shares, issued 31,966,504 in 2025 and 31,072,144 in 2024, outstanding 22,637,252 in 2025 and 23,083,116 in 2024

 

 

32

 

 

 

31

 

Additional paid-in capital

 

 

183,880

 

 

 

180,249

 

Retained earnings (accumulated deficit)

 

 

(17,298

 

 

(17,064

Treasury stock

 

 

(152,624

 

 

(131,932

Total shareholders’ equity

 

13,990

 

 

 

31,284

 

Total liabilities and shareholders’ equity

 

134,878

 

 

132,539

 

NATIONAL RESEARCH CORPORATION AND SUBSIDIARY

Condensed Consolidated Statements of Cash Flows

(In thousands, unaudited)

 

 

 

Three months ended

 

 

Twelve months ended

 

 

 

December 31,

 

 

December 31,

 

 

 

 

2025

 

 

 

2024

 

 

 

2025

 

 

 

2024

Cash flows from operating activities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

1,797

 

 

6,560

 

 

11,600

 

24,783

 

Adjustments to reconcile net income to net cash provided by operating activities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

2,145

 

 

 

1,517

 

 

 

7,624

 

 

6,022

 

Deferred income taxes

 

 

2,533

 

 

(546

 

 

2,453

 

 

(664

Reserve for uncertain tax positions

 

 

70

 

 

 

47

 

 

 

174

 

 

258

 

Loss on disposal of property and equipment

 

 

61

 

 

 

17

 

 

 

61

 

 

17

 

Non-cash share-based compensation expense

 

 

1,909

 

 

 

188

 

 

3,312

 

 

284

 

Change in fair value of contingent consideration

 

 

10

 

 

 

60

 

 

 

141

 

 

83

 

Loss on extinguishment of debt

 

 

 

 

 

 

 

 

67

 

 

 

Amortization of debt issuance costs

 

 

28

 

 

 

 

 

 

102

 

 

28

 

Net changes in assets and liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trade accounts receivable

 

 

1,641

 

 

Für dich aus unserer Redaktion zusammengestellt

Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte.


Weitere Artikel des Autors

Themen im Trend