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 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $311.14M | $306.58M | $295.94M | $276.24M | $241.93M | $188.84M |
| Cost of Revenue | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - |
| R&D | $49.77M | $57.95M | $72.63M | $75.68M | $62.73M | $53.52M |
| SG&A | $49.56M | $56.82M | $76.56M | $61.70M | $85.93M | $59.24M |
| Total Operating Expenses | $312.53M | $210.59M | $258.73M | $273.19M | $261.22M | $186.89M |
| D&A | $50.50M | $41.43M | $42.22M | $48.30M | $37.53M | $18.73M |
| Operating Income | ($160.85M) | ($69.81M) | ($126.90M) | ($140.00M) | ($143.65M) | ($96.13M) |
| Interest Expense | - | - | - | - | - | - |
| Income Tax | $716.0K | $333.0K | $356.0K | ($4.28M) | ($6.90M) | ($1.19M) |
| Net Income | ($177.97M) | ($69.50M) | ($118.15M) | ($137.40M) | ($153.21M) | ($115.02M) |
| EPS - Basic | ($2.55) | ($1.15) | ($2.09) | ($2.56) | ($2.91) | - |
| EPS - Diluted | ($2.55) | ($1.15) | ($2.09) | ($2.63) | ($2.91) | - |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $50.81M | $249.65M | $106.28M | $116.31M | $193.23M | $91.95M |
| Accounts Receivable | $59.13M | $57.18M | $60.29M | $47.97M | $48.80M | $48.30M |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | $9.36M | $11.43M | $6.64M | $4.42M | $4.69M | $5.33M |
| Current Assets | $169.31M | $465.65M | $393.40M | $427.80M | $508.39M | $329.80M |
| Total Assets | $502.64M | $858.93M | $701.81M | $752.29M | $832.10M | $577.74M |
| Current Liabilities | $89.57M | $325.85M | $89.03M | $82.51M | $93.05M | $88.04M |
| Long-term Debt | $151.62M | $151.18M | $228.03M | $226.52M | $180.94M | $168.99M |
| Total Liabilities | $256.86M | $493.72M | $334.89M | $327.28M | $310.00M | $301.64M |
| Stockholders' Equity | $245.78M | $365.21M | $366.92M | $425.01M | $522.10M | $276.10M |
| Retained Earnings | ($1.36B) | ($1.19B) | ($1.12B) | ($999.02M) | ($878.86M) | ($725.65M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $731.0K | $14.56M | ($33.08M) | ($35.27M) | ($23.12M) | ($26.15M) |
| Investing Cash Flow | $36.19M | ($22.90M) | $20.29M | ($39.02M) | ($139.68M) | ($82.56M) |
| Financing Cash Flow | ($235.78M) | $151.75M | $2.73M | ($2.61M) | $264.08M | $182.61M |
| CapEx | $968.0K | $1.62M | $1.24M | $2.17M | $10.45M | $7.78M |
| Free Cash Flow | ($237.0K) | $12.94M | ($34.32M) | ($37.44M) | ($33.57M) | ($33.92M) |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | - |
| Operating margin | -51.7% | -22.8% | -42.9% | -50.7% | -59.4% | -50.9% |
| EBITDA margin | -35.5% | -9.3% | -28.6% | -33.2% | -43.9% | -41.0% |
| Net margin | -57.2% | -22.7% | -39.9% | -49.7% | -63.3% | -60.9% |
| Free cash flow margin | -0.1% | 4.2% | -11.6% | -13.6% | -13.9% | -18.0% |
| FCF / Net income | 0.00 | -0.19 | 0.29 | 0.27 | 0.22 | 0.29 |
| R&D / Revenue | 16.0% | 18.9% | 24.5% | 27.4% | 25.9% | 28.3% |
| SG&A / Revenue | 15.9% | 18.5% | 25.9% | 22.3% | 35.5% | 31.4% |
| Effective tax rate | - | - | - | - | - | - |
| Return on assets | -35.4% | -8.1% | -16.8% | -18.3% | -18.4% | -19.9% |
| Return on equity | -72.4% | -19.0% | -32.2% | -32.3% | -29.3% | -41.7% |
| Return on invested capital | -32.0% | -10.7% | -16.8% | -17.0% | -16.1% | -17.1% |
| Liquidity | ||||||
| Current ratio | 1.89 | 1.43 | 4.42 | 5.18 | 5.46 | 3.75 |
| Quick ratio | 1.89 | 1.43 | 4.42 | 5.18 | 5.46 | 3.75 |
| Cash ratio | 0.57 | 0.77 | 1.19 | 1.41 | 2.08 | 1.04 |
| Leverage | ||||||
| Debt / Equity | 0.62 | 0.41 | 0.62 | 0.53 | 0.35 | 0.61 |
| Debt / Assets | 0.30 | 0.18 | 0.32 | 0.30 | 0.22 | 0.29 |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - |
| Equity multiplier | 2.05 | 2.35 | 1.91 | 1.77 | 1.59 | 2.09 |
| Liabilities / Assets | 0.51 | 0.57 | 0.48 | 0.44 | 0.37 | 0.52 |
| Efficiency | ||||||
| Asset turnover | 0.62 | 0.36 | 0.42 | 0.37 | 0.29 | 0.33 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 69d | 68d | 74d | 63d | 74d | 93d |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | 0.7x | 1.2x | 1.4x | 1.4x | 3.0x | - |
| P / S | 0.5x | 1.4x | 1.8x | 2.1x | 6.5x | - |
| EV / EBITDA | - | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | 1.5% | 3.6% | 7.1% | 14.2% | 28.1% | 158.4% |
| Revenue CAGR (3y) | 4.0% | 8.2% | 16.2% | 55.8% | - | - |
| Revenue CAGR (5y) | 10.5% | 33.2% | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - |
| Operating income growth (YoY) | -130.4% | 45.0% | 9.4% | 2.5% | -49.4% | -111.1% |
| Net income growth (YoY) | -156.1% | 41.2% | 14.0% | 10.3% | -33.2% | -144.5% |
| EPS growth (YoY) | -121.7% | 45.0% | 20.5% | 9.6% | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | 8.3% | -11.5% | 1.0% | 13.7% |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | -32.7% | -0.5% | -13.7% | -18.6% | 89.1% | 37.6% |
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%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
-2.16
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
4/9
Neutral
- ✗Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✓Current ratio improved
- ✗No share dilution
- -Gross margin improved
- ✓Asset turnover improved
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.