Health Catalyst, Inc. logo

Health Catalyst, Inc.

HCAT

NASDAQHealthcareMedical - Healthcare Information Services

Latest quote

$1.54

−$0.10 · -6.13%

Aug 21, 3:55 PM ET

HCAT company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Sell

Trim exposure — unfavorable risk-reward

Valuation

52

Fair Value

Momentum

48

Neutral

Sentiment

43

Mixed

Risk resilience

29

High Risk

Full GoAI research

Thesis, catalysts, evidence, and risk analysis.

View full GoAI research

AI-generated, informational only, and not investment advice.

Company profile

Company website

Health Catalyst, Inc. equips healthcare providers with crucial data and analytical technologies, alongside specialized services. Their extensive product line features a robust, enterprise-level data and analytics platform designed specifically for the healthcare sector. They additionally offer advanced artificial intelligence (AI) and data science solutions that integrate AI seamlessly into existing business intelligence tools, thereby enhancing analytical precision. The company's services also cover population health management, which identifies areas for improvement throughout the patient care journey, offering actionable recommendations and automated processes. For financial effectiveness, they provide critical insights into cost analysis, workforce efficiency, and revenue maximization. Moreover, Health Catalyst contributes to improving quality and safety by leveraging clinical and patient safety data, sophisticated analytics, and expert consulting. They also facilitate a national data ecosystem, promoting collaborative thought leadership and shared knowledge to generate groundbreaking insights that redefine healthcare delivery. Established in 2008 and based in South Jordan, Utah, the company was formerly known as HQC Holdings, Inc. before officially becoming Health Catalyst, Inc. in March 2017.

Industry
Medical - Healthcare Information Services
Sector
Healthcare
Headquarters
US
CEO
Benjamin Albert
Listed since
Jul 25, 2019
Employees
1,200

Market position

Volume
1.06M
0.8× average
Average volume
1.34M
Average daily volume
Market cap
113.06M USD
Beta
1.56
Market reference 1

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
287.48M USD
P/E (TTM)
-0.42×
P/B (TTM)
1.12×
P/S (TTM)
0.39×
EV / EBITDA
-2.61×
Earnings yield
-106.54%
Free cash flow yield
-0.14%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
46.44%
Operating margin
-19.67%
Net margin
-90.61%
Return on equity
-72.41%
Return on assets
-35.41%
Return on invested capital
-8.63%

Financial health

Debt / equity
1.69×
Current ratio
1.89×
Altman Z-score
-6.6
Piotroski F-score
5 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends60%15%-30%-75%Gross margin, FY2021: 48.60%Gross margin, FY2022: 48.21%Gross margin, FY2023: 44.55%Gross margin, FY2024: 45.92%Gross margin, FY2025: 33.47%Operating margin, FY2021: -59.38%Operating margin, FY2022: -50.68%Operating margin, FY2023: -42.88%Operating margin, FY2024: -22.77%Operating margin, FY2025: -11.60%Net margin, FY2021: -63.33%Net margin, FY2022: -49.74%Net margin, FY2023: -39.92%Net margin, FY2024: -22.67%Net margin, FY2025: -57.20%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 48.60%. Gross margin FY2022 48.21%. Gross margin FY2023 44.55%. Gross margin FY2024 45.92%. Gross margin FY2025 33.47%. Operating margin FY2021 -59.38%. Operating margin FY2022 -50.68%. Operating margin FY2023 -42.88%. Operating margin FY2024 -22.77%. Operating margin FY2025 -11.60%. Net margin FY2021 -63.33%. Net margin FY2022 -49.74%. Net margin FY2023 -39.92%. Net margin FY2024 -22.67%. Net margin FY2025 -57.20%.

Income trends

Revenue

311.14M USD+1.48%

Operating income

−36.1M USD+48.28%

Net income

−177.97M USD-156.07%
Income trends across reported periods360.05M USD164.4M USD−31.24M USD−226.89M USDRevenue, FY2021: 241.93M USDRevenue, FY2022: 276.24M USDRevenue, FY2023: 295.94M USDRevenue, FY2024: 306.58M USDRevenue, FY2025: 311.14M USDOperating income, FY2021: −143.65M USDOperating income, FY2022: −140.01M USDOperating income, FY2023: −126.9M USDOperating income, FY2024: −69.81M USDOperating income, FY2025: −36.1M USDNet income, FY2021: −153.21M USDNet income, FY2022: −137.4M USDNet income, FY2023: −118.15M USDNet income, FY2024: −69.5M USDNet income, FY2025: −177.97M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 241.93M USD. Revenue FY2022 276.24M USD. Revenue FY2023 295.94M USD. Revenue FY2024 306.58M USD. Revenue FY2025 311.14M USD. Operating income FY2021 −143.65M USD. Operating income FY2022 −140.01M USD. Operating income FY2023 −126.9M USD. Operating income FY2024 −69.81M USD. Operating income FY2025 −36.1M USD. Net income FY2021 −153.21M USD. Net income FY2022 −137.4M USD. Net income FY2023 −118.15M USD. Net income FY2024 −69.5M USD. Net income FY2025 −177.97M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue311.14M USD306.58M USD295.94M USD276.24M USD241.93M USD
Cost of goods sold207M USD165.81M USD164.11M USD143.05M USD124.35M USD
Gross profit104.13M USD140.78M USD131.83M USD133.19M USD117.57M USD
Research and development49.77M USD57.95M USD72.63M USD75.68M USD62.73M USD
Selling, general, and administrative102.04M USD111.2M USD143.88M USD149.22M USD160.96M USD
Operating expenses140.24M USD210.59M USD258.73M USD273.19M USD261.22M USD
Interest income7.54M USD17.98M USD16.39M USD5.69M USD831K USD
Interest expense16.4M USD17.09M USD7.29M USD7.24M USD17.31M USD
Depreciation and amortization50.5M USD41.43M USD42.22M USD51.53M USD41.11M USD
Operating income−36.1M USD−69.81M USD−126.9M USD−140.01M USD−143.65M USD
Net income−177.97M USD−69.5M USD−118.15M USD−137.4M USD−153.21M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
64%
7 beats, 3 misses, 1 met estimate
Average EPS surprise
+264.70%
11 comparable reports
Latest EPS result
0.04
Estimate 0.03 · Beat by 33.87%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.150.080-0.07Q1 '25MissQ2 '25MetQ3 '25BeatQ4 '25BeatQ1 '26MissQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 26, 2025: actual 0.04, estimate 0.11, surprise -63.64%, Miss. Q2 2025, reported May 7, 2025: actual 0.01, estimate 0.01, surprise 0.00%, Met estimate. Q3 2025, reported Aug 7, 2025: actual 0.04, estimate 0.03, surprise +33.33%, Beat. Q4 2025, reported Nov 10, 2025: actual 0.06, estimate 0.05, surprise +20.00%, Beat. Q1 2026, reported Mar 12, 2026: actual 0.08, estimate 0.09, surprise -11.11%, Miss. Q2 2026, reported May 11, 2026: actual 0.02, estimate 0.01, surprise +100.00%, Beat. Q3 2026, reported Aug 6, 2026: actual 0.04, estimate 0.03, surprise +33.87%, Beat. Q4 2026, reported Nov 9, 2026: actual —, estimate -0.03, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates88.54M76.37M64.2M52.03MQ1 '25BeatQ2 '25BeatQ3 '25MissQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 26, 2025: actual 79.61M USD, estimate 79.59M USD, surprise +0.02%, Beat. Q2 2025, reported May 7, 2025: actual 79.41M USD, estimate 79.16M USD, surprise +0.32%, Beat. Q3 2025, reported Aug 7, 2025: actual 80.72M USD, estimate 85.14M USD, surprise -5.19%, Miss. Q4 2025, reported Nov 10, 2025: actual 76.32M USD, estimate 74.08M USD, surprise +3.03%, Beat. Q1 2026, reported Mar 12, 2026: actual 74.68M USD, estimate 73.97M USD, surprise +0.96%, Beat. Q2 2026, reported May 11, 2026: actual 70.76M USD, estimate 69.24M USD, surprise +2.19%, Beat. Q3 2026, reported Aug 6, 2026: actual 70.49M USD, estimate 69.09M USD, surprise +2.02%, Beat. Q4 2026, reported Nov 9, 2026: actual —, estimate 55.44M USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$2.08

35.95% upside
Past 12 months12-month forecast

Price history unavailable

High $3.00Average $2.08Low $1.75

Rating distribution

22 ratings
Strong buy00%
Buy1150%
Hold1150%
Sell00%
Strong sell00%

Recent analyst actions

12 institutions

HCAT news

HCAT peers

Continue in GoAI

Research HCAT

research.disclaimer