National Research Corp. Q1 FY2023 earnings call

• NRC Health has been committed to humanizing healthcare and recently integrated patient insights into EHR. - NRC Health was named in Becker's Healthcare Top 150 Places to Work. - Linda Stacy discussed revenue decrease, TRCV details, operating income change, tax rate, and capital allocation priorities.

Revenue for the first quarter 2023 decreased by 5% compared to Q1 2022, primarily due to the scheduled closure of the Canadian location and focus on core offerings. TRCV ended the quarter at $146.7 million, with a 1% increase in TRCV for core solutions. Operating income decreased by 23% compared to Q1 2022 due to revenue decline and growth in marketing expenses. The effective tax rate in Q1 2023 was 23% vs. 25% in 2022, mainly due to increased tax benefits from share-based compensation and lower state income taxes.

The Board of Directors maintained capital allocation priorities for 2023, including funding innovation and growth investments, shareholder dividends, and share repurchases. In Q1 2023, the company funded $2.9 million for innovation and growth, $3 million for dividend payments, and $2 million for share repurchases.

Forward-looking statements in the call involve risks and uncertainties, and for further info on factors affecting results, see the company's SEC filings.

Q: Are there any questions?

A: We have no questions on this occasion.