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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
www.healthcatalyst.com
Market Cap
$93.36M
P/E (TTM)
-0.5
35.1
Dividend Yield
--
52W High
$5.06
52W Low
$1.20
52W Range
3%
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

Q4 2025 Data

Revenue

$74.68M+0.00%
4-Quarter Trend

EPS

-$1.28+0.00%
4-Quarter Trend

FCF

$9.64M+0.00%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Total Revenue Increased 4% Nine months total revenue reached $236.5M, up 4% from $227.0M, driven by new and existing client growth.
Adjusted EBITDA Significantly Improved Nine months Adjusted EBITDA grew to $27.6M, a 51% increase over $18.2M last year, showing operational leverage.
Technology Revenue Grew 9% Technology revenue for nine months was $156.4M, marking 9% growth, while Professional Services revenue declined 4%.
Goodwill Impairment Recorded Recorded $28.8M non-cash goodwill impairment charge as of June 30, 2025, primarily impacting the Technology reporting unit.

Risk Factors

Macroeconomic Pressures Persist High inflation, interest rates, and Medicaid funding uncertainty negatively affect client budgets and elongate sales cycles.
Goodwill Impairment Triggered Interim goodwill test showed reporting units below carrying values, resulting in $28.8M impairment charge for nine months 2025.
Ignite Migration Pressures Margins DOS client migration to Ignite increases near-term technology cost of revenue, potentially causing near-term Adjusted Technology Gross Margin decline.
Client Contract Renewal Risk Significant revenue relies on renewals; clients may reduce spend or fail to renew, materially impacting future financial results.

Outlook

Focus on Ignite Migration Continuing DOS client migration to Ignite, expecting two-thirds complete by end of 2025, prioritizing client flexibility.
Executing Cost Optimization Plan Authorized August 2025 Restructuring Plan to reduce headcount and optimize cost structure, expecting $0.5M additional costs Q4 2025.
Future Bookings Mix Shift Anticipating higher proportion of gross bookings from existing client base through upsells rather than solely new Platform Clients.
Sufficient Near-Term Liquidity Existing cash, cash equivalents, and marketable securities of $91.5M are sufficient for working capital needs over next 12 months.

Peer Comparison

Revenue (TTM)

ATLN stock ticker logoATLN
$445.38M
+3.8%
HCAT stock ticker logoHCAT
$311.14M
+1.5%
STIM stock ticker logoSTIM
$129.87M
+78.6%

Gross Margin (Latest Quarter)

ACRS stock ticker logoACRS
162.0%
+39.1pp
ENTA stock ticker logoENTA
100.0%
+0.0pp
SGMO stock ticker logoSGMO
100.0%
+0.0pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
ACRS$426.91M-6.7-52.0%1.3%
ATLN$296.95M-2.3606.4%69.5%
ENTA$294.85M-3.8-78.6%58.6%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-2.0%
Flat Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
50%
Cash Flow Needs Attention

Deep Research

Next earnings:May 5, 2026
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Financials
Earnings Calls
Reports
News
Income Statement
Balance Sheet
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Ratios
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Income Statement
LTM
No Data