National Research Corporation
13.45+0.20 (+1.51%)
Oct 29, 4:00:00 PM EDT · NasdaqGS · NRC · USD
Key Stats
Market Cap
304.74MP/E (TTM)
18.94Basic EPS (TTM)
0.71Dividend Yield
0.04%Recent Filings
8-K
CFO Appointment Announced
National Research Corporation appointed Shane Harrison as Executive Vice President and Chief Financial Officer, effective September 25, 2025, succeeding Michael D. Hays as principal financial officer. Harrison brings 25 years of finance expertise from PowerSchool, NAVEX Global, and FLIR Systems, with a compensation package including $400,000 base salary, $100,000 signing bonus, and 172,000 restricted shares vesting over three years. This leadership shift aims to drive growth and profitability. Forward-looking statements highlight potential risks from uncertainties.
10-Q
Q2 FY2025 results
National Research Corporation's Q2 revenue dipped 3% year-over-year to $34.0M, driven by a $1.3M drop in recurring revenue from existing clients, yet sequential gains in total recurring contract value signal stabilizing demand. Operating income plunged 82% to $1.6M amid $6.6M in executive cash bonuses and elevated share-based compensation, pushing SG&A up 58% and shrinking margins to 5%; net loss hit $0.1M or $(0.01) per diluted share on 22.7M shares, with anti-dilution from 403K options. Free cash flow wasn't disclosed in the 10-Q. Cash stood at $5.3M with $30M revolver availability and $27.6M untapped on the $110M delayed draw term loan maturing 2030 at 6.67%, funding $10.9M share repurchases and $5.5M dividends while compliant with covenants. The Nobl acquisition added intangible amortization but no fresh goodwill. New CEO Trent Green took helm June 1. Yet competition in healthcare analytics remains fierce.
8-K
Q2 revenue dips, TRCV grows
NRC Health reported Q2 2025 revenue of $34.0 million, down from $35.0 million last year, with a net loss of $0.1 million due to $6.6 million in non-recurring executive compensation from the CEO transition. Yet TRCV grew 2% sequentially, marking the third straight quarter of gains from stronger sales and retention. Adjusted EBITDA hit $10.3 million at 30.3% margin. The board declared a $0.12 quarterly dividend; repurchases returned $16.1 million YTD.
8-K
Shareholders approve incentive plan
National Research Corporation's shareholders approved the 2025 Omnibus Incentive Plan on May 7, 2025, replacing the 2006 Equity Incentive Plan and 2004 Non-Employee Director Stock Plan. The plan, effective immediately, garnered strong support with 16.9 million votes in favor against 4.0 million opposed. Donald M. Berwick and Stephen H. Lockhart joined the board for three-year terms. Shareholders also ratified KPMG LLP as auditors and approved executive compensation advisory.
10-Q
Q1 FY2025 results
NRC Health's Q1 revenue dipped 5% year-over-year to $33.6M, driven by a $2.1M drop in recurring revenue from existing clients, yet sequential recurring contract value rose modestly amid stronger sales and retention. Operating income held steady at $8.6M with margins expanding to 26% from 25%, thanks to 8% lower SG&A from reduced marketing and legal fees offsetting the topline slide. Diluted EPS came in at $0.25, aligning with 22,974 weighted shares and a 25% effective tax rate up from 22%. Cash from operations fell 45% to $6.6M while free cash flow (derived) turned negative at -$0.4M after $3.0M capex, mainly for software and headquarters renovations; liquidity remains solid with $2.5M cash, $26.5M revolver availability, and $47.6M untapped on the $110M Delayed Draw Term Loan at 6.67% (maturing 2030), alongside $62.2M outstanding debt and covenant compliance. The Nobl Health acquisition from Q3 2024 added intangible amortization, with $0.6M contingent liability tied to contract metrics. Client non-renewals pose an ongoing challenge.
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