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NASDAQ · SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. · MID CAP

Health Catalyst, Inc. HCAT

9 fiscal years on record · USD · FY2025 reported · SEC filings only
$311.1M
▲ 1.5% YoY
$-178.0M
$-237,000
▼ 101.8% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

Health Catalyst, Inc. provides data and analytics technology and services to healthcare organizations through a cloud-based data and analytics platform, software applications, and expertise. As of December 31, 2025, the Company had more than 1,200 team members, the vast majority of whom were located in the United States and approximately 16% of whom were located in India. The Company also has a presence in Singapore, the UK, and a small number of other countries. As of December 31, 2025, the Company served 162 Platform Clients and over 1,000 App Clients. The Company has organized its applications into sets that generate insights for improvement across five key areas: Clinical Improvement, Revenue and Cost Improvement, Ambulatory Operations, Measures and Registries, and Data and Analytics. Health Catalyst, Inc. was incorporated under the laws of Delaware in September 2011, was formerly known as HQC Holdings, Inc., and changed its name to Health Catalyst, Inc. in March 2017.

Written from the business description in Health Catalyst, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 12 March 2026. Every sentence was checked against that document before publication.

Growth

USD 311.1M
Revenue, FY2025 · full 9-year series below
Revenue $M Net income $M
FY2025 · Revenue 311.1 · Net income -178.0
150M300M-100M-200M
2017202020232025
Compound annual growth
+4.0%
+10.5%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +10.5% a year over the five years to FY2025.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

−57 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -51.7% · Net -57.2%
-20%-40%-60%
201720212025
ROE
FY2025 · ROE -58.3%
-20%-40%
201720212025
Three returns, three denominators.

Each USD of equity lost 58 cents this year.

Cash & shareholders

USD 5.0M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -0.2
5M10M-15M-30M
201720212025
Net buybacks $M Dividends $M
FY2025 · Dividends · · Net buybacks 5.0
-100M-200M
201720182019202020212022202320242025

USD 5.0M in buybacks went back to shareholders in a year without profit.

Total assetsUSD 502.6M
EquityUSD 245.8M
CashUSD 50.8M
Gross debtUSD 153.3M
Net debtUSD 102.4M
Current ratio1.89×

Net debt stands at 42% of equity.

The 9-year record

9 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative—not applicable◌not available in our data
HCAT, 9-year financial record
Metric 202520242023202220212020201920182017
Revenue $B0.30.30.30.30.20.20.20.10.1
Operating income $B−0.2−0.1−0.1−0.1−0.1−0.1−0.1−0.1−0.0
EBITDA $B−0.1−0.1−0.1−0.1−0.1−0.1−0.1−0.1−0.0
Income tax $B0.00.00.0−0.0−0.0−0.00.0−0.00.0
Net income $B−0.2−0.1−0.1−0.1−0.2−0.1−0.1−0.1−0.0
Free cash flow $B−0.00.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0
EPS, diluted $−2.55−1.15−2.09−2.63−3.23−2.91−12.86−23.76−12.13
Dividend / sh $◌◌◌◌◌◌◌◌◌
Payout % — not applicable: no dividend—————————
ROE %−58.3−19.0−29.8−29.0−38.4−48.3———
Shares out B0.070.060.060.060.050.040.04◌◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

More in this sector

Other companies filing in the same sector

Provenance

Company facts, as filed

How we verify · 0 failures in 34 reconciliationsAUDITED

Reconciled in 9 of the 9 fiscal years we could check. 22 checks were skipped: the balance sheet is not tagged before 2018. 10 checks were skipped: EPS is not tagged before 2017. 10 checks were skipped: revenue is not tagged before 2017.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityServices-Computer Programming, Data Processing, Etc.
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2017

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