National Research Corp
NASDAQ:NRC
National Research Corp
National Research Corp. engages in the provision of analytics and insights that facilitate patient, employee, and customer retention. The company is headquartered in Lincoln, Nebraska and currently employs 511 full-time employees. The Company’s purpose is to enable human understanding. Its solutions enable healthcare organizations to understand what matters most to each person they serve. The Company’s portfolio of solutions represents a set of capabilities that individually and collectively provide value to its clients. The Company’s portfolio of subscription-based solutions provides actionable information and analysis to healthcare organizations across a range of constituent-related elements, including patient experience, service recovery, care transitions, health risk assessments, employee engagement, reputation management and brand loyalty. Its clients include integrated health systems, post-acute providers and payer organizations.
National Research Corp. engages in the provision of analytics and insights that facilitate patient, employee, and customer retention. The company is headquartered in Lincoln, Nebraska and currently employs 511 full-time employees. The Company’s purpose is to enable human understanding. Its solutions enable healthcare organizations to understand what matters most to each person they serve. The Company’s portfolio of solutions represents a set of capabilities that individually and collectively provide value to its clients. The Company’s portfolio of subscription-based solutions provides actionable information and analysis to healthcare organizations across a range of constituent-related elements, including patient experience, service recovery, care transitions, health risk assessments, employee engagement, reputation management and brand loyalty. Its clients include integrated health systems, post-acute providers and payer organizations.
Revenue: Q4 revenue was $35.2 million, down 5% year-over-year but up 2% sequentially, showing improving momentum.
Recurring Revenue: 99% of revenue is recurring, providing strong visibility and predictability.
Contract Value Growth: Total recurring contract value (TRCV) reached $144.1 million, up 8% year-over-year and marking five consecutive quarters of growth.
Profitability: Q4 adjusted EBITDA was $8.7 million; full-year adjusted EBITDA was $40.2 million with a 29% margin, demonstrating steady profitability despite lower revenue.
Retention & Sales: Achieved the highest retention rate in over 7 years; new sales for the year grew 86%, driven by a restructured sales approach.
Outlook: Management expects revenue growth to return in 2026, following TRCV gains in 2025.
Capital Allocation: Continued quarterly dividend of $0.12 per share and a flexible approach to investment, share repurchases, and potential acquisitions.
