EX-99.1 2 ex_806194.htm EXHIBIT 99.1 ex_806194.htm

EXHIBIT 99.1

 

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1245 Q Street, Lincoln, NE 68508

P: 1 800 388 4264 | F: 402 475 9061
nrchealth.com

 

 

 

Contact:

Michelle Bachman

  402-475-2525

 

 

NRC HEALTH ANNOUNCES FIRST QUARTER RESULTS


 

 

LINCOLN, Nebraska, April 28, 2025 — National Research Corporation, dba NRC Health, (NASDAQ:NRC) today announced results for the first quarter 2025 and other corporate developments.

 

Highlights:  
 

Total Recurring Value Contract Value Increases Sequentially

 

Sales Force Expansion Accelerates

 

New Share Repurchase Program Announced

 

Operating Expenses Decline

 

Dividend Declared

 

Overview

 

Michael D. Hays, Chief Executive Officer of NRC Health, commented on the Company’s performance and recent developments:

 

“The key milestone this quarter was a second consecutive quarter of sequential increase in total recurring contract value, which remains the leading indicator of revenue growth. This progress reflects the rebuilding of our sales force - never a quick process, but one that is already delivering results. We are seeing meaningful increases in our pipeline, win rates, and overall sales. Building on this momentum, we are now aggressively accelerating our sales force expansion plans to fully capitalize on our broader product offerings and a differentiated message that sets NRC Health apart in the marketplace.”

 

Hays continued, “I would also like to recognize Helen Hrdy, our Chief Operating Officer, for her relentless focus on driving organizational efficiencies. Her leadership continues to be instrumental in enhancing our ability to invest in future growth while delivering strong returns to shareholders through share repurchases and dividends.”

 

Hays concluded, “Finally, I welcome the opportunity to personally introduce you to Trent Green, who will be joining us as our incoming CEO in June. Introductory calls are available on June 9 and 10, 2025 and can be arranged by contacting [email protected].

 

 

 

NRC Announces First Quarter 2025 Results

Page 2

April 28, 2025

 

Dividends and Share Repurchase

 

The Company’s Board of Directors on April 25, 2025, declared a quarterly cash dividend of $0.12 (twelve cents) per share payable Friday, July 11, 2025, to shareholders of record as of the close of business on Friday, June 27, 2025.

 

During the first quarter, the Company completed its prior share repurchase program adopted in 2022. On April 25, 2025, the Company’s Board of Directors approved repurchasing up to one million additional shares of its common stock.

 

 

 

About NRC Health

 

For more than 40 years, NRC Health’s (NASDAQ: NRC) commitment to Human Understanding® helps leading healthcare systems know each patient, caregivers, employees, and the communities they serve not as point-in-time insights, but to personalize an ongoing relationship at scale.

For more information, email  [email protected], or visit www.nrchealth.com

 

 

 

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, share repurchases, and revenue 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.

 

 

 

 

NRC Announces First Quarter 2025 Results

Page 3

April 28, 2025

 

NATIONAL RESEARCH CORPORATION AND SUBSIDIARY

Unaudited Condensed Consolidated Statements of Income

(In thousands, except per share data)

 

   

Three months ended
March 31,

 
   

2025

   

2024

 
                 

Revenue

  $ 33,551     $ 35,313  
                 

Operating expenses:

               

Direct

    13,057       13,856  

Selling, general and administrative

    10,356       11,250  

Depreciation and amortization

    1,542       1,447  

Total operating expenses

    24,955       26,553  
                 

Operating income

    8,596       8,706  
                 

Other income (expense):

               

Interest income

    19       44  

Interest expense

    (899 )     (605 )

Other, net

    7       (5 )
                 

Total other income (expense)

    (873 )     (566 )
                 

Income before income taxes

    7,723       8,194  
                 

Provision for income taxes

    1,936       1,835  
                 

Net income

  $ 5,787     $ 6,359  
                 

Earnings Per Share of Common Stock:

               

Basic Earnings Per Share

  $ 0.25     $ 0.27  

Diluted Earnings Per Share

  $ 0.25     $ 0.27  
                 

Weighted average shares and share equivalents outstanding

               
Basic     22,972       23,868  

Diluted

    22,974       23,963  

 

 

 

NRC Announces First Quarter 2025 Results

Page 4

April 28, 2025

 

NATIONAL RESEARCH CORPORATION AND SUBSIDIARY

Unaudited Condensed Consolidated Balance Sheets

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

 

   

March 31,

2025

   

December 31,

2024

 

Assets

               

Current assets:

               

Cash and cash equivalents

  $ 2,502     $ 4,233  

Accounts receivable, net

    11,326       11,054  

Other current assets

    6,574       4,313  

Total current assets

    20,402       19,600  
                 

Property and equipment, net

    40,390       38,269  

Goodwill

    66,152       66,152  

Other, net

    8,231       8,518  

Total assets

  $ 135,175     $ 132,539  
                 

Liabilities and Shareholders Equity

               

Current liabilities:

               

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

  $ 3,036     $ 4,789  

Line of credit

    3,500       --  

Accounts payable and accrued expenses

    6,743       6,285  

Accrued compensation

    4,915       4,774  

Deferred revenue

    15,507       15,786  

Dividends payable

    2,735       2,770  

Other current liabilities

    1,338       1,454  

Total current liabilities

    37,774       35,858  
                 

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

    58,669       57,895  

Other non-current liabilities

    9,060       7,502  

Total liabilities

    105,503       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 31,082,158 in 2025 and 31,072,144 in 2024, outstanding 22,785,421 in 2025 and 23,083,116 in 2024

    31       31  

Additional paid-in capital

    180,552       180,249  

Retained earnings (accumulated deficit)

    (14,012 )     (17,064 )

Treasury stock

    (136,899 )     (131,932 )

Total shareholders’ equity

  $ 29,672     $ 31,284  

Total liabilities and shareholders’ equity

  $ 135,175     $ 132,539