Health Catalyst, Inc.(HCAT)Earnings, Financials & Key Ratios

HCAT•NASDAQ

$2.27

Price updated Jul 7, 2026

SectorHealthcare IndustryHealthcare IT Sub-IndustryHealthcare Data, Analytics and AI

AboutHealth Catalyst, Inc. provides data and analytics technology and services to healthcare organizations. Its offerings include data and analytics platform, a commercial-grade data and analytics platform for the healthcare sector; AI and data science, providing integration of AI into existing business intelligence tools, increasing analytics accuracy; population health management identifies improvement across the care continuum as well as actionable guidance for success and automated workflows; financial transformation providing costing and labor productivity insights and revenue capture; quality and safety improvement using clinical quality and patient safety data, analytics, and expert services; and national data ecosystem for thought leadership and mutual knowledge exchange to transform care delivery through next-gen insights. 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 based in South Jordan, Utah.Show more

Revenue$311M+1.5%
EBITDA$14M+150.7%
Net Income-$178M-156.1%
EPS (Diluted)-2.55-121.7%
Gross Margin33.47%-27.1%
EBITDA Margin4.63%+150.0%
Operating Margin-11.6%+49.0%
Net Margin-57.2%-152.3%
ROE-58.26%-206.8%

HCAT Price & Volume

Health Catalyst, Inc. (HCAT) stock price & volume — 10-year historical chart

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Persistent Operational Losses Challenge Scalability and Liquidity

Investment Thesis • Updated 2026Q1

VerdictNegative

Growth:Contracting

Profitability:Negative

Financial:Vulnerable

Cash Flow:Mixed

Primary Risk:Persistent Operating Cash Burn

Key Thesis Takeaways

Health Catalyst faces a critical inflection point as its service-heavy business model struggles to achieve sustainable profitability, evidenced by a -156.9% net margin in 2026Q1.
While the company has aggressively reduced its debt from $402.4M in 2025Q1 to $18.8M in 2026Q1, the rapid depletion of cash reserves to $59.9M creates significant execution risk.
Investors should monitor whether the firm can pivot toward higher-margin software revenue to offset the structural challenges inherent in its current professional services reliance.

Verdict Logic

the company's inability to generate positive operating income, evidenced by a -9.5% operating margin in 2026Q1, suggests that the current business model lacks the necessary scale to provide long-term shareholder value.

HCAT Growth Metrics

Health Catalyst, Inc. (HCAT) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-

5 Years10.5%

3 Years4.05%

TTM-2.83%

Profit CAGR

10 Years-

5 Years-

3 Years-

TTM-265.08%

EPS CAGR

10 Years-

5 Years-

3 Years-

TTM-223.48%

Return on Capital

10 Years-31.2%

5 Years-16.57%

3 Years-13.2%

Last Year-7.63%

HCAT Recent Earnings

Health Catalyst, Inc. (HCAT) EPS & revenue vs analyst estimates — last 4 quarters

Full history →

●Beat EPS 8/12 qtrs (67%)●Beat Revenue 9/12 qtrs (75%)

Q2 2026Latest

May 11, 2026

Metric

Actual

Est

EPS

$0.02+100.0%

$0.01

Rev

$71M+2.2%

$69M

Q2 2026

Mar 12, 2026

Metric

Actual

Est

EPS

$0.08-11.1%

$0.09

Rev

$75M+1.0%

$74M

Q4 2025

Nov 10, 2025

Metric

Actual

Est

EPS

$0.06+20.0%

$0.05

Rev

$76M+3.0%

$74M

Q3 2025

Aug 7, 2025

Metric

Actual

Est

EPS

$0.04+33.3%

$0.03

Rev

$81M-5.2%

$85M

Quarter	Date	EPS (Act vs Est)	Revenue (Act vs Est)
Q2 2026Latest	May 11, 2026	$0.02vs $0.01+100.0%	$71Mvs $69M+2.2%
Q2 2026	Mar 12, 2026	$0.08vs $0.09-11.1%	$75Mvs $74M+1.0%
Q4 2025	Nov 10, 2025	$0.06vs $0.05+20.0%	$76Mvs $74M+3.0%
Q3 2025	Aug 7, 2025	$0.04vs $0.03+33.3%	$81Mvs $85M-5.2%

Based on last 12 quarters of dataView full earnings history →

Latest HCAT News

Recent stock market news and headlines for Health Catalyst, Inc. (HCAT)

GlobeNewsWire·Jun 16, 2026

Health Catalyst to Participate in Upcoming Investor Conference

SALT LAKE CITY, June 16, 2026 (GLOBE NEWSWIRE) -- Health Catalyst, Inc. ("Health Catalyst", Nasdaq: HCAT), a healthcare intelligence company designed to accelerate measurable improvement for health systems, today announced that members of senior management will participate in the Truist Securities Healthcare Disruptors & Digital Health Conference, including a panel discussion titled “AI ROI in Healthcare: Real vs Hype Debate,” with Ben Albert, Chief Executive Officer, on Wednesday, June 24, 2026, at 3:30pm ET.

Peers Comparison

Key metrics vs top competitors for Health Catalyst, Inc. (HCAT)

Full Screener →

Company	Price	Market Cap	P/E Ratio	Rev Growth (1Y)	Net Margin	ROE	Div Yield
HCATHealth Catalyst, Inc.Current	$2.27	$167.74M	-0.89	1.48%	-57.2%	-58.26%	—
HIMSHims & Hers Health, Inc.	$36.17	$7.94B	70.92	59%	-0.56%	-2.48%	—
DOCSDoximity, Inc.	$22.74	$4.25B	23.20	13.05%	30.4%	19.36%	—
INVAInnoviva, Inc.	$22.25	$1.64B	6.74	18.52%	118.91%	47.59%	—
TDOCTeladoc Health, Inc.	$9.10	$1.64B	-7.98	-1.54%	-6.81%	-12.37%	—
PINCPremier, Inc.	$28.26	$2.34B	128.45	-10.86%	-2.42%	-1.59%	—

Compare HCAT vs Peers

Health Catalyst, Inc. (HCAT) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs HIMS

Most directly comparable listed peer for HCAT.

Scale Benchmark

vs GOOG

Larger-name benchmark to compare HCAT against a more recognizable public peer.

Peer Set

Compare Top 5

vs HIMS, DOCS, INVA, TDOC

HCAT SEC Filings & Documents

Health Catalyst, Inc. (HCAT) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

May 11, 2026·SEC

Material company update

Apr 30, 2026·SEC

Material company update

Apr 27, 2026·SEC

10-K Annual Reports

FY 2026

Mar 12, 2026·SEC

FY 2025

Feb 26, 2025·SEC

10-Q Quarterly Reports

FY 2026

May 11, 2026·SEC

FY 2025

Nov 10, 2025·SEC

FY 2025

Aug 8, 2025·SEC

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HCAT Frequently Asked Questions

Health Catalyst, Inc. (HCAT) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

What is Health Catalyst, Inc.'s revenue?

Health Catalyst, Inc. (HCAT) reported $302.5M in revenue for fiscal year 2025. This represents a 314% increase from $73.1M in 2017.

How fast is Health Catalyst, Inc. growing?

Health Catalyst, Inc. (HCAT) grew revenue by 1.5% over the past year. Growth has been modest.

Is HCAT profitable?

Health Catalyst, Inc. (HCAT) reported a net loss of $265.3M for fiscal year 2025.

Dividend & Returns

What is HCAT's return on equity?

Health Catalyst, Inc. (HCAT) has a return on equity (ROE) of -58.3%. Negative ROE indicates the company is unprofitable.

What is Health Catalyst, Inc.'s free cash flow?

Health Catalyst, Inc. (HCAT) generated $9.2M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in HCAT back in 2017?

Total return calculator · dividends reinvested · 9+ years of data

See returns →

Quarter

Date

EPS (Act vs Est)

Revenue (Act vs Est)

Q2 2026Latest

May 11, 2026

$0.02vs $0.01+100.0%

$71Mvs $69M+2.2%

Q2 2026

Mar 12, 2026

$0.08vs $0.09-11.1%

$75Mvs $74M+1.0%

Q4 2025

Nov 10, 2025

$0.06vs $0.05+20.0%

$76Mvs $74M+3.0%

Q3 2025

Aug 7, 2025

$0.04vs $0.03+33.3%

$81Mvs $85M-5.2%

Company

Price

Market Cap

P/E Ratio

Rev Growth (1Y)

Net Margin

ROE

Div Yield

HCATHealth Catalyst, Inc.Current

$2.27

$167.74M

-0.89

1.48%

-57.2%

-58.26%

—

HIMSHims & Hers Health, Inc.

$36.17

$7.94B

70.92

59%

-0.56%

-2.48%

—

DOCSDoximity, Inc.

$22.74

$4.25B

23.20

13.05%

30.4%

19.36%

—

INVAInnoviva, Inc.

$22.25

$1.64B

6.74

18.52%

118.91%

47.59%

—

TDOCTeladoc Health, Inc.

$9.10

$1.64B

-7.98

-1.54%

-6.81%

-12.37%

—

PINCPremier, Inc.

$28.26

$2.34B

128.45

-10.86%

-2.42%

-1.59%

—