The following is a summary of the National Research Corporation (NRC) Q1 2024 Earnings Call Transcript:
Financial Performance:
National Research Corporation's financial results for Q1 2024 were consistent with expectations and showed no significant year-over-year changes.
The company's net debt stands at approximately $40 million.
They have a robust financial capacity with $23 million available on their line of credit and another $56 million available under the delayed draw term loan facility.
There was a marked increase in Operating cash flows to $12 million, up from $8 million the previous year.
Business Progress:
National Research Corporation is focused on doubling its total addressable market through portfolio additions, acquisitions, and partnerships.
They envision driving double-digit annual revenue growth, enhancing margins, and providing substantial value to investors.
They plan to introduce AI-enhanced, healthcare-specific solutions later this year.
The expansion of their sales force is in the pipeline, with significant hiring expected over the coming two to three years.
Organizational changes have been enacted, with new leadership roles, sales associates, and a technology team restructure.
They have shown a commitment to investment and shareholder value, spending $4 million on innovation and growth and returning $18 million to stockholders through dividends and stock repurchases.
More details: National Research IR
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