HCAT · Health Catalyst, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $70.76M | - | $76.32M | $80.72M | $79.41M | - | $76.35M | $75.90M | $74.72M | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | $36.29M | - | - | - | - | - | - | - |
| R&D | $9.78M | - | $12.28M | $12.39M | $15.19M | - | $14.19M | $13.88M | $14.87M | - |
| SG&A | $13.96M | - | $16.07M | $8.28M | $14.16M | - | $12.21M | $14.36M | $14.56M | - |
| Total Operating Expenses | $141.94M | - | $55.33M | $75.33M | $56.41M | - | $47.73M | $51.65M | $59.02M | - |
| D&A | $12.12M | - | $12.61M | $12.68M | $12.32M | - | $9.98M | $10.66M | $10.53M | - |
| Operating Income | ($106.48M) | - | ($17.51M) | ($37.09M) | ($20.17M) | - | ($13.69M) | ($15.81M) | ($22.81M) | - |
| Interest Expense | - | - | - | - | - | - | - | - | - | - |
| Income Tax | $414.0K | - | $41.0K | $81.0K | $215.0K | - | ($475.0K) | $70.0K | $113.0K | - |
| Net Income | ($111.03M) | - | ($22.23M) | ($40.98M) | ($23.74M) | - | ($14.73M) | ($13.52M) | ($20.59M) | - |
| EPS - Basic | ($1.53) | - | ($0.32) | ($0.59) | ($0.35) | - | ($0.24) | ($0.23) | ($0.35) | - |
| EPS - Diluted | ($1.53) | - | ($0.32) | ($0.59) | ($0.35) | - | ($0.24) | ($0.23) | ($0.35) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $59.86M | $50.81M | $40.30M | $50.71M | $341.97M | $249.65M | $328.33M | $201.90M | $201.37M | $106.28M |
| Accounts Receivable | $59.15M | $59.13M | $60.11M | $68.38M | $64.05M | $57.18M | $51.65M | $54.90M | $53.87M | $60.29M |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $11.69M | $9.36M | $4.94M | $8.94M | $8.95M | $11.43M | $14.28M | $10.60M | $5.70M | $6.64M |
| Current Assets | $182.31M | $169.31M | $165.35M | $180.58M | $422.72M | $465.65M | $457.41M | $376.07M | $397.14M | $393.40M |
| Total Assets | $412.20M | $502.64M | $587.13M | $616.18M | $891.54M | $858.93M | $813.05M | $691.72M | $695.11M | $701.81M |
| Current Liabilities | $107.61M | $89.57M | $87.89M | $98.82M | $339.56M | $325.85M | $323.78M | $318.02M | $92.21M | $89.03M |
| Long-term Debt | $151.74M | $151.62M | $151.51M | $151.40M | $151.29M | $151.18M | $114.61M | $0 | $228.41M | $228.03M |
| Total Liabilities | $274.06M | $256.86M | $255.21M | $268.63M | $514.73M | $493.72M | $458.01M | $334.72M | $337.90M | $334.89M |
| Stockholders' Equity | $138.15M | $245.78M | $331.92M | $347.55M | $376.81M | $365.21M | $355.04M | $357.00M | $357.21M | $366.92M |
| Retained Earnings | ($1.48B) | ($1.36B) | ($1.27B) | ($1.25B) | ($1.21B) | ($1.19B) | ($1.17B) | ($1.15B) | ($1.14B) | ($1.12B) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $18.51M | - | - | - | $280.0K | - | - | - | $10.27M | - |
| Investing Cash Flow | ($9.41M) | - | - | - | $96.76M | - | - | - | $83.98M | - |
| Financing Cash Flow | ($4.0K) | - | - | - | ($4.71M) | - | - | - | $863.0K | - |
| CapEx | $338.0K | - | - | - | $670.0K | - | - | - | $208.0K | - |
| Free Cash Flow | $18.17M | - | - | - | ($390.0K) | - | - | - | $10.06M | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | 47.5% | - | - | - | - | - | - | - |
| Operating margin | -150.5% | - | -22.9% | -46.0% | -25.4% | - | -17.9% | -20.8% | -30.5% | - |
| EBITDA margin | -133.4% | - | -6.4% | -30.2% | -9.9% | - | -4.9% | -6.8% | -16.4% | - |
| Net margin | -156.9% | - | -29.1% | -50.8% | -29.9% | - | -19.3% | -17.8% | -27.6% | - |
| Free cash flow margin | 25.7% | - | - | - | -0.5% | - | - | - | 13.5% | - |
| FCF / Net income | -0.16 | - | - | - | 0.02 | - | - | - | -0.49 | - |
| R&D / Revenue | 13.8% | - | 16.1% | 15.4% | 19.1% | - | 18.6% | 18.3% | 19.9% | - |
| SG&A / Revenue | 19.7% | - | 21.1% | 10.3% | 17.8% | - | 16.0% | 18.9% | 19.5% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -26.9% | - | -3.8% | -6.7% | -2.7% | - | -1.8% | -2.0% | -3.0% | - |
| Return on equity | -80.4% | - | -6.7% | -11.8% | -6.3% | - | -4.1% | -3.8% | -5.8% | - |
| Return on invested capital | -29.0% | - | -2.9% | -5.9% | -3.0% | - | -2.3% | -3.5% | -3.1% | - |
| Liquidity | ||||||||||
| Current ratio | 1.69 | 1.89 | 1.88 | 1.83 | 1.24 | 1.43 | 1.41 | 1.18 | 4.31 | 4.42 |
| Quick ratio | 1.69 | 1.89 | 1.88 | 1.83 | 1.24 | 1.43 | 1.41 | 1.18 | 4.31 | 4.42 |
| Cash ratio | 0.56 | 0.57 | 0.46 | 0.51 | 1.01 | 0.77 | 1.01 | 0.63 | 2.18 | 1.19 |
| Leverage | ||||||||||
| Debt / Equity | 1.10 | 0.62 | 0.46 | 0.44 | 0.40 | 0.41 | 0.32 | 0.00 | 0.64 | 0.62 |
| Debt / Assets | 0.37 | 0.30 | 0.26 | 0.25 | 0.17 | 0.18 | 0.14 | 0.00 | 0.33 | 0.32 |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 2.98 | 2.05 | 1.77 | 1.77 | 2.37 | 2.35 | 2.29 | 1.94 | 1.95 | 1.91 |
| Liabilities / Assets | 0.66 | 0.51 | 0.43 | 0.44 | 0.58 | 0.57 | 0.56 | 0.48 | 0.49 | 0.48 |
| Efficiency | ||||||||||
| Asset turnover | 0.17 | - | 0.13 | 0.13 | 0.09 | - | 0.09 | 0.11 | 0.11 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 305d | - | 287d | 309d | 294d | - | 247d | 264d | 263d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | 0.7x | - | 0.6x | 0.8x | 0.8x | - | 1.4x | 1.1x | 1.2x | - |
| P / S | 1.3x | - | 2.6x | 3.3x | 3.9x | - | 6.4x | 5.0x | 5.9x | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -10.9% | - | -0.0% | 6.3% | 6.3% | - | 3.5% | 3.7% | 1.2% | - |
| Revenue CAGR (3y) | -1.4% | - | 3.7% | 4.6% | 5.3% | - | 7.3% | 8.4% | 10.2% | - |
| Revenue CAGR (5y) | 4.8% | - | 10.1% | 13.3% | 12.0% | - | 14.1% | 27.0% | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | -427.9% | - | -27.9% | -134.7% | 11.6% | - | 44.3% | 54.3% | 34.7% | - |
| Net income growth (YoY) | -367.6% | - | -51.0% | -203.2% | -15.3% | - | 33.2% | 58.6% | 38.0% | - |
| EPS growth (YoY) | -337.1% | - | -33.3% | -156.5% | 0.0% | - | 38.5% | 60.3% | 41.7% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -63.3% | -32.7% | -6.5% | -2.6% | 5.5% | -0.5% | -7.2% | -8.4% | -11.8% | -13.7% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$311.14M totalTechnology$208.28M · 66.9%
Professional Services$102.86M · 33.1%
Product / service
$519.41M totalRecurring Technology$208.28M · 40.1%
Technology$208.28M · 40.1%
Professional Services$102.86M · 19.8%
Peer comparison
Same SIC group: Services-Computer Programming, Data Processing, Etc.
Comparing Health Catalyst against the 5 most active filers in the same SIC group.