Health Catalyst, Inc.
NASDAQ•HCAT
CEO: Mr. Daniel D. Burton
Sector: Healthcare
Industry: Medical - Healthcare Information Services
Listing Date: 2019-07-25
Health Catalyst, Inc. provides data and analytics technology and services to healthcare organizations in the United States. It operates in two segments, Technology and Professional Services. The company provides data operating system data platform which provides clients single comprehensive environment to integrate and organize data from their disparate software systems; and analytics applications, a software analytics applications build for data platform to analyze clients face across clinical and quality, population health, and financial and operational use cases. It offers services expertise solutions comprising data and analytics, domain expertise and education, tech-enabled managed, and implementation services; and opportunity analysis and prioritization, data governance, data modeling and analysis, quality and process improvement strategy, cost accounting, data abstraction, and population health strategies. The company was formerly known as HQC Holdings, Inc. and changed its name to Health Catalyst, Inc. in March 2017. Health Catalyst, Inc. was founded in 2008 and is headquartered in South Jordan, Utah.
Contact Information
10897 South River Front Parkway, Suite 300, South Jordan, UT, 84095, United States
801-708-6800
Market Cap
$136.70M
P/E (TTM)
-0.5
29.2
Dividend Yield
--
52W High
$4.13
52W Low
$0.96
52W Range
Rank61Top 91.5%
2.0
F-Score
Modified Piotroski Analysis
Based on 8-year fundamentals
Weak • 2 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2018-2025
Financial Dashboard
Q1 2026 Data
Revenue
$70.76M+0.00%
4-Quarter Trend
EPS
-$1.53+0.00%
4-Quarter Trend
FCF
$13.57M+0.00%
4-Quarter Trend
2025 Annual Earnings Highlights
Key Highlights
Total Revenue Modest Growth Total revenue reached $311.1M USD in 2025, marking a 1% increase driven primarily by revenue from new clients.
Adjusted EBITDA Strong Improvement Adjusted EBITDA reached $41.4M USD, showing substantial improvement over $26.1M USD reported in the prior year.
Platform Client Base Grows Platform Client count increased to 162 as of year-end 2025, up from 130 clients at the end of 2024.
Technology Revenue Mix Increases Technology revenue comprised 67% of total revenue in 2025, shifting from 64% in 2024, improving gross margin profile.
Risk Factors
Significant Goodwill Impairment Net loss widened to $(178.0M) USD, heavily impacted by a $110.2M non-cash goodwill impairment charge recorded in 2025.
Client Retention Rate Declines Dollar-based Retention Rate fell to 93% in 2025, down from 102% in 2024, signaling potential revenue pressure from existing base.
DOS Migration Revenue Headwinds Migration from DOS platform to Ignite is causing near-term pressure, with $12.5M in DOS-related ARR churn expected for 2026/2027.
Macroeconomic Pressures Persist High inflation, rising interest rates, and Medicaid funding cuts continue to strain clients, potentially delaying technology purchasing decisions.
Outlook
Focus on Operating Efficiency Strategic plan emphasizes operating efficiency, disciplined growth, and continued enhancement of the Health Catalyst Ignite platform capabilities.
Expand Existing Client Base Expect higher gross bookings from existing clients through upsells, leveraging established relationships for cross-selling success.
Selective Acquisition Strategy Plan to selectively evaluate acquisitions long-term, focusing near-term efforts on maximizing return on investment from past acquisitions.
Complete Platform Infrastructure Migration Expect to move past data platform infrastructure migration headwinds after 2027, which should benefit technology gross margin over time.
Peer Comparison
Revenue (TTM)
$435.88M
$302.48M
$151.64M
Gross Margin (Latest Quarter)
100.0%
93.0%
88.8%
Key Metrics
Symbol | Market Cap | P/E (TTM) | ROE (TTM) | Debt to Assets |
|---|---|---|---|---|
| ACRS | $520.97M | -8.0 | -55.9% | 1.0% |
| ENTA | $276.28M | -4.1 | -64.0% | 59.3% |
| OABI | $270.34M | -5.4 | -20.3% | 6.7% |
Long-Term Trends
Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-4.3%
Flat Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
50%
Cash Flow Needs Attention
Deep Research
Financials
Earnings Calls
Reports
News
Income Statement
Balance Sheet
Cash Flow Statement
Ratios
% Chg.
Income Statement | LTM |
|---|
No Data