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Health Catalyst (HCAT) Financials

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$2.29 0.00 (0.00%)
Closing price 07/13/2026 04:00 PM Eastern
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$2.34 +0.05 (+2.31%)
As of 07:00 AM Eastern
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Annual Income Statements for Health Catalyst

Annual Income Statements for Health Catalyst

This table shows Health Catalyst's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -114 -241 -115 -153 -137 -118 -70 -178
Consolidated Net Income / (Loss)		 -62 -60 -115 -153 -137 -118 -70 -178
Net Income / (Loss) Continuing Operations		 -62 -60 -115 -153 -137 -118 -70 -178
Total Pre-Tax Income 		-62 -60 -116 -160 -142 -118 -69 -177
Total Operating Income		 -60 -55 -96 -144 -140 -127 -70 -161
Total Gross Profit		 53 80 91 118 133 132 141 152
Total Revenue		 113 155 189 242 276 296 307 311
Operating Revenue		 113 155 189 242 276 296 307 311
Total Cost of Revenue		 60 75 98 124 143 164 166 159
Operating Cost of Revenue		 60 75 98 124 143 164 166 159
Total Operating Expenses		 113 134 187 261 273 259 211 313
Selling, General & Admin Expense		 23 32 59 86 62 77 57 50
Marketing Expense		 44 47 55 75 88 67 54 52
Research & Development Expense		 39 46 54 63 76 73 58 50
Depreciation Expense		 7.41 9.21 19 38 48 42 41 51
Impairment Charge		 - - - - - 0.00 0.00 110
Total Other Income / (Expense), net		 -2.02 -5.09 -20 -16 -1.68 9.11 0.64 -16
Interest & Investment Income		 - - - - -1.68 9.11 0.64 -16
Income Tax Expense		 -0.14 0.14 -1.19 -6.90 -4.28 0.36 0.33 0.72
Basic Earnings per Share		 ($23.76) ($12.86) ($2.91) ($3.23) ($2.56) ($2.09) ($1.15) ($2.55)
Weighted Average Basic Shares Outstanding		 4.80M 18.74M 39.54M 47.49M 53.72M 56.42M 60.18M 69.90M
Diluted Earnings per Share		 ($23.76) ($12.86) ($2.91) ($3.23) ($2.63) ($2.09) ($1.15) ($2.55)
Weighted Average Diluted Shares Outstanding		 4.80M 18.74M 39.54M 47.49M 54.08M 56.42M 60.18M 69.90M
Weighted Average Basic & Diluted Shares Outstanding		 4.80M 18.74M 39.54M 53.35M 55.81M 58.56M 70.21M 73.59M

Quarterly Income Statements for Health Catalyst

This table shows Health Catalyst's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -22 -30 -21 -14 -15 -21 -24 -41 -22 -91 -111
Consolidated Net Income / (Loss)		 -22 -30 -21 -14 -15 -21 -24 -41 -22 -91 -111
Net Income / (Loss) Continuing Operations		 -22 -30 -21 -14 -15 -21 -24 -41 -22 -91 -111
Total Pre-Tax Income 		-22 -30 -20 -13 -15 -20 -24 -41 -22 -91 -111
Total Operating Income		 -25 -33 -23 -16 -14 -18 -20 -37 -18 -86 -106
Total Gross Profit		 32 31 36 36 34 35 36 38 38 39 35
Total Revenue		 74 75 75 76 76 80 79 81 76 75 71
Operating Revenue		 74 75 75 76 76 80 79 81 76 75 71
Total Cost of Revenue		 42 45 39 40 42 45 43 42 39 35 35
Operating Cost of Revenue		 42 45 39 40 42 45 43 42 39 35 35
Total Operating Expenses		 57 63 59 52 48 52 56 75 55 125 142
Selling, General & Admin Expense		 14 15 15 14 12 16 14 8.28 16 11 14
Marketing Expense		 15 17 19 13 11 11 15 13 14 10 11
Research & Development Expense		 18 20 15 14 14 15 15 12 12 9.91 9.78
Depreciation Expense		 10 10 11 11 9.98 10 12 13 13 13 12
Impairment Charge		 - - - 0.00 0.00 - 0.00 29 0.00 - 96
Total Other Income / (Expense), net		 2.61 2.62 2.34 2.36 -1.51 -2.55 -3.36 -3.80 -4.68 -4.57 -4.14
Interest & Investment Income		 2.61 2.62 2.34 2.36 -1.51 -2.55 -3.36 -3.80 -4.68 -4.57 -4.14
Income Tax Expense		 0.06 0.14 0.11 0.07 -0.48 0.63 0.22 0.08 0.04 0.38 0.41
Basic Earnings per Share		 ($0.39) ($0.52) ($0.35) ($0.23) ($0.24) ($0.33) ($0.35) ($0.59) ($0.32) ($1.29) ($1.53)
Weighted Average Basic Shares Outstanding		 56.71M 56.42M 58.59M 59.30M 60.44M 60.18M 68.55M 69.63M 70.38M 69.90M 72.59M
Diluted Earnings per Share		 ($0.39) ($0.52) ($0.35) ($0.23) ($0.24) ($0.33) ($0.35) ($0.59) ($0.32) ($1.29) ($1.53)
Weighted Average Diluted Shares Outstanding		 56.71M 56.42M 58.59M 59.30M 60.44M 60.18M 68.55M 69.63M 70.38M 69.90M 72.59M
Weighted Average Basic & Diluted Shares Outstanding		 57.55M 58.56M 59.03M 60.47M 60.85M 70.21M 69.60M 70.37M 70.73M 73.59M 73.89M

Annual Cash Flow Statements for Health Catalyst

This table details how cash moves in and out of Health Catalyst's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 5.45 -10 74 101 -77 -10 143 -199
Net Cash From Operating Activities		 -40 -32 -26 -23 -35 -33 15 0.73
Net Cash From Continuing Operating Activities		 -40 -32 -26 -23 -35 -33 15 0.73
Net Income / (Loss) Continuing Operations		 -62 -60 -115 -153 -137 -118 -70 -178
Consolidated Net Income / (Loss)		 -62 -60 -115 -153 -137 -118 -70 -178
Depreciation Expense		 7.41 9.21 19 38 48 42 41 51
Amortization Expense		 0.39 0.47 9.40 13 -0.74 -8.21 -1.50 2.16
Non-Cash Adjustments To Reconcile Net Income		 7.50 23 52 62 78 65 46 149
Changes in Operating Assets and Liabilities, net		 6.39 -4.74 9.10 17 -23 -14 -2.08 -23
Net Cash From Investing Activities		 21 -210 -83 -140 -39 20 -23 36
Net Cash From Continuing Investing Activities		 21 -210 -83 -140 -39 20 -23 36
Purchase of Property, Plant & Equipment		 -2.08 -2.02 -7.78 -10 -2.17 -1.24 -1.62 -0.97
Acquisitions		 -0.23 -1.94 -103 -48 -30 -13 -81 -42
Purchase of Investments		 -14 -256 -190 -261 -309 -291 -168 -65
Sale of Property, Plant & Equipment		 0.03 0.06 0.01 0.02 0.03 0.03 0.01 0.04
Sale and/or Maturity of Investments		 38 51 219 187 315 337 242 164
Other Investing Activities, net		 -0.20 -0.38 -1.44 -6.64 -13 -12 -14 -20
Net Cash From Financing Activities		 24 231 183 264 -2.61 2.73 152 -236
Net Cash From Continuing Financing Activities		 24 231 183 264 -2.61 2.73 152 -236
Repayment of Debt		 0.00 -22 -57 - 0.00 0.00 -3.11 -232
Repurchase of Common Equity		 -8.71 -4.61 0.00 0.00 -8.39 -1.81 0.00 -5.00
Issuance of Debt		 9.95 47 222 - 0.00 0.00 152 0.00
Issuance of Common Equity		 0.00 198 4.27 250 3.15 3.59 2.41 1.51
Other Financing Activities, net		 -11 0.94 13 14 2.63 0.95 0.17 0.00
Effect of Exchange Rate Changes		 - 0.01 0.03 -0.01 -0.01 0.02 -0.03 0.03
Cash Interest Paid		 3.94 5.56 4.98 6.36 5.75 5.75 10 22

Quarterly Cash Flow Statements for Health Catalyst

This table details how cash moves in and out of Health Catalyst's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -21 11 95 0.53 126 -79 92 -291 -10 11 9.05
Net Cash From Operating Activities		 3.12 -19 10 1.61 6.21 -3.53 0.28 -9.00 -0.46 9.91 19
Net Cash From Continuing Operating Activities		 3.12 -19 10 1.61 6.21 -3.53 0.28 -9.00 -0.46 9.91 19
Net Income / (Loss) Continuing Operations		 -22 -30 -21 -14 -15 -21 -24 -41 -22 -91 -111
Consolidated Net Income / (Loss)		 -22 -30 -21 -14 -15 -21 -24 -41 -22 -91 -111
Depreciation Expense		 10 10 11 11 9.98 10 12 13 13 13 12
Amortization Expense		 -2.44 -2.53 -1.59 -0.80 0.57 0.32 0.29 0.86 0.47 0.53 0.41
Non-Cash Adjustments To Reconcile Net Income		 15 15 16 11 10 9.29 9.09 38 15 86 100
Changes in Operating Assets and Liabilities, net		 2.33 -12 5.69 -5.38 0.33 -2.73 2.32 -20 -6.31 1.17 17
Net Cash From Investing Activities		 -25 30 84 -1.78 7.65 -113 97 -52 -9.35 1.01 -9.41
Net Cash From Continuing Investing Activities		 -25 30 84 -1.78 7.65 -113 97 -52 -9.35 1.01 -9.41
Purchase of Property, Plant & Equipment		 -0.15 -0.26 -0.21 -0.29 -0.71 -0.41 -0.67 0.23 -0.26 -0.27 -0.34
Acquisitions		 -0.02 -12 -0.08 -19 -36 -25 -41 -0.29 -0.33 -0.18 -0.55
Purchase of Investments		 -89 -36 -50 - - -118 0.00 -47 -10 -7.91 -25
Sale of Property, Plant & Equipment		 0.01 0.01 0.00 0.00 0.00 0.00 0.01 0.02 0.01 0.01 0.00
Sale and/or Maturity of Investments		 68 81 137 21 48 36 143 - 6.24 15 21
Other Investing Activities, net		 -2.94 -2.63 -2.53 -3.76 -3.57 -4.42 -4.66 -5.43 -4.55 -5.14 -4.60
Net Cash From Financing Activities		 1.04 0.40 0.86 0.70 112 38 -4.71 -230 -0.54 -0.43 -0.00
Net Cash From Continuing Financing Activities		 1.04 0.40 0.86 0.70 112 38 -4.71 -230 -0.54 -0.43 -0.00
Repayment of Debt		 - - 0.00 - - 0.54 -0.41 -230 -1.07 -0.41 -0.41
Repurchase of Common Equity		 - - 0.00 - - - -5.00 - - - 0.00
Issuance of Common Equity		 1.00 0.38 0.84 0.59 0.63 0.35 0.70 0.31 0.53 -0.03 0.40
Effect of Exchange Rate Changes		 -0.02 0.03 -0.02 -0.00 0.08 -0.10 -0.01 0.07 -0.05 0.02 -0.05

Annual Balance Sheets for Health Catalyst

This table presents Health Catalyst's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 111 302 578 832 752 702 859 503
Total Current Assets		 67 264 330 508 428 393 466 169
Cash & Equivalents		 28 18 92 193 116 106 250 51
Short-Term Investments		 4.76 210 179 252 247 211 142 45
Accounts Receivable		 28 28 48 49 48 60 57 59
Prepaid Expenses		 5.32 8.39 11 15 16 15 16 14
Plant, Property, & Equipment, net		 4.68 4.30 13 23 26 26 29 34
Total Noncurrent Assets		 39 34 235 300 299 283 364 299
Goodwill		 3.69 3.69 108 170 186 191 260 209
Intangible Assets		 28 26 99 105 92 73 86 78
Other Noncurrent Operating Assets		 7.44 4.60 28 26 20 19 18 13
Total Liabilities & Shareholders' Equity		 111 302 578 832 752 702 859 503
Total Liabilities		 76 102 302 310 327 335 494 257
Total Current Liabilities		 42 48 88 93 83 89 326 90
Short-Term Debt		 3.46 0.00 14 4.58 - 0.00 231 1.63
Accounts Payable		 1.81 3.62 5.33 4.69 4.42 6.64 11 9.36
Accrued Expenses		 9.20 8.94 17 24 20 23 26 19
Current Deferred Revenue		 25 31 47 57 55 56 53 56
Other Current Liabilities		 2.58 5.00 4.62 3.43 3.43 3.36 3.61 3.78
Total Noncurrent Liabilities		 34 53 214 217 245 246 168 167
Long-Term Debt		 19 48 169 181 227 228 151 152
Noncurrent Deferred Revenue		 7.28 1.46 1.88 0.93 0.11 0.08 0.25 0.41
Other Noncurrent Operating Liabilities		 8.00 1.98 43 35 18 18 16 15
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -375 201 276 522 425 367 365 246
Total Preferred & Common Equity		 -375 201 276 522 425 367 365 246
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -375 201 276 522 425 367 365 246
Common Stock		 0.01 811 1,002 1,401 1,425 1,484 1,553 1,609
Retained Earnings		 -375 -611 -726 -879 -999 -1,117 -1,187 -1,365
Accumulated Other Comprehensive Income / (Loss)		 -0.00 0.07 0.06 -0.07 -0.65 0.03 -0.84 1.59

Quarterly Balance Sheets for Health Catalyst

This table presents Health Catalyst's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 776 752 723 713 695 692 813 892 616 587 412
Total Current Assets		 443 435 411 408 397 376 457 423 181 165 182
Cash & Equivalents		 124 133 116 95 201 202 328 342 51 40 60
Short-Term Investments		 256 223 228 253 126 106 59 0.00 47 51 49
Accounts Receivable		 50 62 52 46 54 55 52 64 68 60 59
Prepaid Expenses		 14 16 15 15 15 13 19 17 15 14 14
Plant, Property, & Equipment, net		 25 26 26 26 25 26 28 32 33 33 35
Total Noncurrent Assets		 308 291 286 278 273 290 328 437 402 389 195
Goodwill		 186 186 186 186 191 206 234 313 286 286 113
Intangible Assets		 101 84 79 72 66 67 76 106 98 90 69
Other Noncurrent Operating Assets		 21 21 21 20 16 17 17 17 18 14 12
Total Liabilities & Shareholders' Equity		 776 752 723 713 695 692 813 892 616 587 412
Total Liabilities		 336 347 333 331 338 335 458 515 269 255 274
Total Current Liabilities		 91 102 87 84 92 318 324 340 99 88 108
Short-Term Debt		 0.00 - - - 3.35 0.89 230 232 1.63 1.63 1.63
Accounts Payable		 6.82 9.24 7.97 6.33 5.70 11 14 8.95 8.94 4.94 12
Accrued Expenses		 24 24 16 21 20 18 24 24 17 19 21
Current Deferred Revenue		 56 66 60 53 64 56 52 71 67 59 70
Other Current Liabilities		 3.46 3.39 3.47 3.40 - 232 3.33 3.76 3.88 3.86 3.73
Total Noncurrent Liabilities		 245 245 246 246 246 17 134 175 170 167 166
Long-Term Debt		 226 227 227 228 228 0.00 115 151 151 152 152
Noncurrent Deferred Revenue		 0.32 0.19 0.09 0.31 0.08 0.05 0.26 0.41 0.33 0.39 0.23
Other Noncurrent Operating Liabilities		 19 18 19 18 0.09 17 19 23 18 15 14
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 440 405 390 382 357 357 355 377 348 332 138
Total Preferred & Common Equity		 440 405 390 382 357 357 355 377 348 332 138
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 440 405 390 382 357 357 355 377 348 332 138
Common Stock		 1,404 1,438 1,455 1,469 1,495 1,508 1,521 1,587 1,597 1,604 1,613
Retained Earnings		 -963 -1,032 -1,065 -1,087 -1,138 -1,151 -1,166 -1,210 -1,251 -1,274 -1,476
Accumulated Other Comprehensive Income / (Loss)		 -0.88 -0.30 -0.20 -0.17 -0.12 -0.16 -0.11 0.14 2.23 1.51 1.01

Annual Metrics And Ratios for Health Catalyst

This table displays calculated financial ratios and metrics derived from Health Catalyst's official financial filings.

Metric 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 0.00 36,565,033.00 42,498,469.00 52,055,293.00 - - - 70,730,884.00
DEI Adjusted Shares Outstanding		 0.00 36,565,033.00 42,498,469.00 52,055,293.00 - - - 70,730,884.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 -6.59 -2.71 -2.94 - - - -2.52
Growth Metrics		 - - - - - - - -
Revenue Growth		 0.00% 37.63% 21.88% 28.11% 14.18% 7.13% 3.60% 1.48%
EBITDA Growth		 0.00% 13.59% -50.48% -36.73% 0.57% -0.47% 67.83% -262.14%
EBIT Growth		 0.00% 8.70% -75.20% -49.44% 2.54% 9.36% 44.99% -130.43%
NOPAT Growth		 0.00% 8.70% -75.20% -49.44% 2.54% 9.36% 44.99% -130.43%
Net Income Growth		 0.00% 3.05% -91.39% -33.21% 10.32% 14.01% 41.17% -156.07%
EPS Growth		 0.00% 45.88% 77.37% -11.00% 18.58% 20.53% 44.98% -121.74%
Operating Cash Flow Growth		 0.00% 20.13% 18.75% 11.57% -52.53% 6.21% 144.01% -94.98%
Free Cash Flow Firm Growth		 0.00% 0.00% -536.71% 25.25% 29.29% 36.79% -63.06% 52.57%
Invested Capital Growth		 0.00% -7.17% 741.17% 39.22% 9.67% -3.76% 28.26% -14.70%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 4.96% 1.64% 2.04% 1.50% -1.56%
EBITDA Q/Q Growth		 0.00% 0.00% 0.00% -2.60% 4.03% 1.41% 37.72% -154.92%
EBIT Q/Q Growth		 0.00% 0.00% 0.00% -4.24% 5.42% 3.03% 17.96% -74.32%
NOPAT Q/Q Growth		 0.00% 0.00% 0.00% -4.24% 5.42% 3.03% 17.96% -74.32%
Net Income Q/Q Growth		 0.00% 0.00% 0.00% -4.06% 8.77% 4.43% 12.18% -65.37%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 2.71% 11.15% 5.00% 14.18% -60.38%
Operating Cash Flow Q/Q Growth		 0.00% -0.23% 25.44% -32.21% -16.70% -14.62% 1,624.50% 105.75%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 57.88% -14.75% -15.61% 58.48%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% 171.82% 0.72% 5.67% 13.67% -22.93%
Profitability Metrics		 - - - - - - - -
Gross Margin		 46.83% 51.37% 48.06% 48.60% 48.21% 44.55% 45.92% 48.75%
EBITDA Margin		 -46.45% -29.16% -36.01% -38.43% -33.47% -31.39% -9.74% -34.77%
Operating Margin		 -53.38% -35.41% -50.90% -59.38% -50.68% -42.88% -22.77% -51.70%
EBIT Margin		 -53.38% -35.41% -50.90% -59.38% -50.68% -42.88% -22.77% -51.70%
Profit (Net Income) Margin		 -55.06% -38.79% -60.91% -63.33% -49.74% -39.92% -22.67% -57.20%
Tax Burden Percent		 99.78% 100.24% 98.97% 95.69% 96.98% 100.30% 100.48% 100.40%
Interest Burden Percent		 103.37% 109.28% 120.90% 111.46% 101.20% 92.82% 99.09% 110.20%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -174.13% -164.88% -63.76% -44.56% -35.59% -31.43% -15.44% -34.18%
ROIC Less NNEP Spread (ROIC-NNEP)		 8.28% -141.95% -27.82% -14.21% -15.72% -5.56% 26.11% -307.27%
Return on Net Nonoperating Assets (RNNOA)		 -2.58% 113.89% 15.51% 6.17% 6.58% 1.59% -3.54% -24.08%
Return on Equity (ROE)		 -176.71% -50.99% -48.25% -38.39% -29.02% -29.84% -18.99% -58.26%
Cash Return on Invested Capital (CROIC)		 0.00% -157.45% -221.26% -77.35% -44.82% -27.60% -40.20% -18.31%
Operating Return on Assets (OROA)		 -54.15% -26.55% -21.84% -20.38% -17.67% -17.45% -8.95% -23.63%
Return on Assets (ROA)		 -55.85% -29.08% -26.14% -21.73% -17.34% -16.25% -8.91% -26.14%
Return on Common Equity (ROCE)		 1,887.98% 37.67% -48.25% -38.39% -29.02% -29.84% -18.99% -58.26%
Return on Equity Simple (ROE_SIMPLE)		 16.54% -29.95% -41.66% -29.35% -32.33% -32.20% -19.03% 0.00%
Net Operating Profit after Tax (NOPAT)		 -42 -38 -67 -101 -98 -89 -49 -113
NOPAT Margin		 -37.37% -24.79% -35.63% -41.56% -35.48% -30.02% -15.94% -36.19%
Net Nonoperating Expense Percent (NNEP)		 -182.41% -22.94% -35.93% -30.36% -19.88% -25.87% -41.55% 273.09%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - -15.04% -14.93% -6.54% -28.22%
Cost of Revenue to Revenue		 53.17% 48.63% 51.94% 51.40% 51.79% 55.45% 54.08% 51.25%
SG&A Expenses to Revenue		 20.16% 20.47% 31.37% 35.52% 22.34% 25.87% 18.53% 15.93%
R&D to Revenue		 34.28% 29.85% 28.34% 25.93% 27.40% 24.54% 18.90% 16.00%
Operating Expenses to Revenue		 100.22% 86.78% 98.97% 107.98% 98.90% 87.43% 68.69% 100.45%
Earnings before Interest and Taxes (EBIT)		 -60 -55 -96 -144 -140 -127 -70 -161
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -52 -45 -68 -93 -92 -93 -30 -108
Valuation Ratios		 - - - - - - - -
Price to Book Value (P/BV)		 0.00 6.32 6.70 3.95 1.37 1.45 1.18 0.69
Price to Tangible Book Value (P/TBV)		 0.00 7.40 26.67 8.34 3.96 5.18 22.18 0.00
Price to Revenue (P/Rev)		 1.62 8.19 9.80 8.53 2.11 1.80 1.40 0.54
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 24.05 48.55 9.34 6.86 1.55 1.60 1.18 0.75
Enterprise Value to Revenue (EV/Rev)		 5.16 7.03 9.33 7.45 1.61 1.50 1.37 0.73
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 28.89 309.94
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - -
Debt to Equity		 0.64 0.24 0.66 0.36 0.53 0.62 1.05 0.62
Long-Term Debt to Equity		 0.54 0.24 0.61 0.35 0.53 0.62 0.41 0.62
Financial Leverage		 -0.31 -0.80 -0.56 -0.43 -0.42 -0.29 -0.14 0.08
Leverage Ratio		 3.16 1.75 1.85 1.77 1.67 1.84 2.13 2.23
Compound Leverage Factor		 3.27 1.92 2.23 1.97 1.69 1.70 2.11 2.46
Debt to Total Capital		 38.84% 19.37% 39.92% 26.22% 34.77% 38.33% 51.15% 38.41%
Short-Term Debt to Total Capital		 6.03% 0.00% 3.14% 0.65% 0.00% 0.00% 30.92% 0.41%
Long-Term Debt to Total Capital		 32.81% 19.37% 36.78% 25.57% 34.77% 38.33% 20.22% 38.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 714.64% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 -653.48% 80.63% 60.08% 73.78% 65.23% 61.67% 48.85% 61.59%
Debt to EBITDA		 -0.43 -1.07 -2.70 -2.00 -2.45 -2.46 -12.80 -1.42
Net Debt to EBITDA		 0.21 3.99 1.29 2.79 1.48 0.97 0.32 -0.53
Long-Term Debt to EBITDA		 -0.36 -1.07 -2.49 -1.95 -2.45 -2.46 -5.06 -1.40
Debt to NOPAT		 -0.53 -1.26 -2.73 -1.84 -2.31 -2.57 -7.83 -1.36
Net Debt to NOPAT		 0.26 4.69 1.30 2.58 1.40 1.01 0.20 -0.51
Long-Term Debt to NOPAT		 -0.45 -1.26 -2.51 -1.80 -2.31 -2.57 -3.09 -1.35
Altman Z-Score		 -3.79 5.43 2.20 2.83 -0.49 -0.93 -1.13 -3.65
Noncontrolling Interest Sharing Ratio		 1,168.42% 173.87% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - -
Current Ratio		 1.60 5.48 3.75 5.46 5.18 4.42 1.43 1.89
Quick Ratio		 1.46 5.31 3.63 5.31 4.99 4.25 1.38 1.73
Cash Flow Metrics		 - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -37 -234 -175 -123 -78 -127 -60
Operating Cash Flow to CapEx		 -1,966.62% -1,647.93% -336.92% -221.74% -1,649.67% -2,745.23% 908.23% 79.11%
Free Cash Flow to Firm to Interest Expense		 0.00 -7.21 -11.63 -10.61 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 -19.91 -6.32 -1.30 -1.41 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 -20.92 -6.71 -1.69 -2.04 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - -
Asset Turnover		 1.01 0.75 0.43 0.34 0.35 0.41 0.39 0.46
Accounts Receivable Turnover		 4.06 5.61 4.98 4.98 5.71 5.47 5.22 5.35
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 24.07 34.54 22.01 13.37 11.22 11.46 11.13 9.84
Accounts Payable Turnover		 33.03 27.73 21.91 24.81 31.38 29.66 18.35 15.34
Days Sales Outstanding (DSO)		 89.80 65.10 73.32 73.25 63.93 66.76 69.93 68.22
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 11.05 13.16 16.66 14.71 11.63 12.31 19.89 23.80
Cash Conversion Cycle (CCC)		 78.75 51.93 56.66 58.53 52.30 54.46 50.03 44.42
Capital & Investment Metrics		 - - - - - - - -
Invested Capital		 24 22 189 263 288 277 356 303
Invested Capital Turnover		 4.66 6.65 1.79 1.07 1.00 1.05 0.97 0.94
Increase / (Decrease) in Invested Capital		 0.00 -1.73 166 74 25 -11 78 -52
Enterprise Value (EV)		 581 1,089 1,763 1,803 445 443 421 227
Market Capitalization		 182 1,269 1,850 2,062 582 533 430 169
Book Value per Share		 ($78.10) $5.49 $6.50 $10.03 $7.76 $6.38 $6.00 $3.47
Tangible Book Value per Share		 ($84.77) $4.69 $1.63 $4.75 $2.68 $1.79 $0.32 ($0.58)
Total Capital		 57 249 460 708 652 595 748 399
Total Debt		 22 48 183 186 227 228 382 153
Total Long-Term Debt		 19 48 169 181 227 228 151 152
Net Debt		 -11 -180 -87 -259 -137 -90 -9.64 58
Capital Expenditures (CapEx)		 2.05 1.95 7.76 10 2.14 1.21 1.60 0.92
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -4.68 -12 -15 -25 -18 -13 -21 -14
Debt-free Net Working Capital (DFNWC)		 29 216 256 420 345 304 371 81
Net Working Capital (NWC)		 25 216 242 415 345 304 140 80
Net Nonoperating Expense (NNE)		 20 22 48 53 39 29 21 65
Net Nonoperating Obligations (NNO)		 -11 -178 -87 -259 -137 -90 -9.64 58
Total Depreciation and Amortization (D&A)		 7.80 9.68 28 51 48 34 40 53
Debt-free, Cash-free Net Working Capital to Revenue		 -4.16% -7.91% -7.77% -10.36% -6.59% -4.52% -6.86% -4.62%
Debt-free Net Working Capital to Revenue		 25.33% 139.42% 135.66% 173.57% 125.00% 102.85% 121.01% 26.15%
Net Working Capital to Revenue		 22.25% 139.42% 128.02% 171.68% 125.00% 102.85% 45.60% 25.63%
Earnings Adjustments		 - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 ($2.91) ($3.23) ($2.56) ($2.09) ($1.15) ($2.55)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 44.04M 47.49M 53.72M 56.42M 60.18M 69.90M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 ($2.91) ($3.23) ($2.63) ($2.09) ($1.15) ($2.55)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 44.04M 47.49M 54.08M 56.42M 60.18M 69.90M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 ($2.91) $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 39.54M 53.35M 55.81M 58.56M 70.21M 73.59M
Normalized Net Operating Profit after Tax (NOPAT)		 -42 -38 -67 -101 -98 -89 -49 -35
Normalized NOPAT Margin		 -37.37% -24.79% -35.63% -41.56% -35.48% -30.02% -15.94% -11.39%
Pre Tax Income Margin		 -55.18% -38.69% -61.54% -66.18% -51.29% -39.80% -22.56% -56.97%
Debt Service Ratios		 - - - - - - - -
EBIT to Interest Expense		 -29.69 -10.78 -4.79 -8.73 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 -20.78 -7.55 -3.35 -6.11 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 -30.70 -11.16 -5.17 -9.36 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 -21.80 -7.93 -3.74 -6.74 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 -14.06% -7.67% 0.00% 0.00% -6.11% -1.53% 0.00% -2.81%

Quarterly Metrics And Ratios for Health Catalyst

This table displays calculated financial ratios and metrics derived from Health Catalyst's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - 70,210,651.00 69,601,233.00 70,373,625.00 70,730,884.00 73,586,183.00
DEI Adjusted Shares Outstanding		 - - - - - - 70,210,651.00 69,601,233.00 70,373,625.00 70,730,884.00 73,586,183.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - -0.34 -0.59 -0.32 -1.29 -1.51
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 7.93% 8.56% 1.16% 3.67% 3.50% 6.02% 6.28% 6.35% -0.04% -6.19% -10.90%
EBITDA Growth		 50.48% 5.04% 45.64% 76.68% 81.37% 72.35% 45.53% -295.57% -41.04% -951.00% -1,143.30%
EBIT Growth		 46.24% 10.78% 34.66% 54.34% 44.32% 46.62% 11.58% -134.67% -27.92% -391.89% -427.87%
NOPAT Growth		 46.24% 10.78% 34.66% 54.34% 44.32% 46.62% 11.58% -134.67% -27.92% -391.89% -427.87%
Net Income Growth		 51.83% 15.29% 37.97% 58.56% 33.16% 31.80% -15.33% -203.18% -50.95% -340.31% -367.64%
EPS Growth		 53.57% 17.46% 41.67% 60.34% 38.46% 36.54% 0.00% -156.52% -33.33% -290.91% -337.14%
Operating Cash Flow Growth		 125.89% -28.47% 283.98% 113.93% 99.29% 81.48% -97.27% -658.13% -107.47% 381.03% 6,511.07%
Free Cash Flow Firm Growth		 102.90% 76.27% -10.72% 4,884.64% -1,036.28% -646.75% -701.82% -278.53% -54.83% 91.18% 204.53%
Invested Capital Growth		 -8.26% -3.76% 1.16% -81.84% 19.23% 28.26% 50.09% 712.32% 25.80% -14.70% -56.26%
Revenue Q/Q Growth		 0.76% 1.78% -0.48% 1.58% 0.59% 4.26% -0.24% 1.65% -5.45% -2.15% -5.25%
EBITDA Q/Q Growth		 34.07% -48.59% 44.52% 57.09% 47.32% -120.47% -9.30% -211.61% 81.22% -1,542.91% -29.30%
EBIT Q/Q Growth		 29.00% -33.38% 30.42% 30.71% 13.41% -27.86% -15.26% -83.90% 52.80% -391.63% -23.70%
NOPAT Q/Q Growth		 29.00% -33.38% 30.42% 30.71% 13.41% -27.86% -15.26% -83.90% 52.80% -391.63% -23.70%
Net Income Q/Q Growth		 32.44% -37.58% 32.08% 34.35% -8.95% -40.38% -14.85% -72.60% 45.75% -309.49% -21.97%
EPS Q/Q Growth		 32.76% -33.33% 32.69% 34.29% -4.35% -37.50% -6.06% -68.57% 45.76% -303.13% -18.60%
Operating Cash Flow Q/Q Growth		 126.91% -711.27% 153.92% -84.30% 285.11% -156.81% 107.94% -3,313.21% 94.84% 2,236.21% 86.75%
Free Cash Flow Firm Q/Q Growth		 244.32% -289.17% -57.82% 1,210.44% -128.24% -50.88% -69.46% -147.24% 75.51% 91.41% 2,108.96%
Invested Capital Q/Q Growth		 -4.01% 5.67% 0.39% -82.16% 530.17% 13.67% 17.47% -3.46% -2.41% -22.93% -39.77%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 43.36% 40.63% 48.45% 47.22% 44.58% 43.58% 45.63% 47.37% 49.55% 52.74% 50.12%
EBITDA Margin		 -22.81% -33.30% -18.57% -7.84% -4.11% -8.69% -9.52% -29.17% -5.80% -97.30% -132.79%
Operating Margin		 -33.32% -43.66% -30.53% -20.83% -17.93% -21.98% -25.40% -45.95% -22.94% -115.27% -150.48%
EBIT Margin		 -33.32% -43.66% -30.53% -20.83% -17.93% -21.98% -25.40% -45.95% -22.94% -115.27% -150.48%
Profit (Net Income) Margin		 -29.86% -40.37% -27.55% -17.81% -19.29% -25.97% -29.90% -50.77% -29.12% -121.89% -156.91%
Tax Burden Percent		 100.27% 100.47% 100.55% 100.52% 96.88% 103.12% 100.91% 100.20% 100.18% 100.42% 100.37%
Interest Burden Percent		 89.39% 92.02% 89.75% 85.06% 111.06% 114.56% 116.64% 110.25% 126.72% 105.30% 103.88%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -24.67% -32.00% -22.92% -27.04% -13.18% -14.91% -15.90% -44.90% -14.37% -76.21% -106.14%
ROIC Less NNEP Spread (ROIC-NNEP)		 -21.15% -25.51% -18.50% -25.88% -6.84% 2.05% 34.70% -32.97% -117.30% -204.73% -191.58%
Return on Net Nonoperating Assets (RNNOA)		 7.05% 7.30% 5.07% 14.69% 1.50% -0.28% -1.80% 11.78% -3.31% -16.04% -31.78%
Return on Equity (ROE)		 -17.62% -24.70% -17.85% -12.35% -11.68% -15.19% -17.70% -33.13% -17.68% -92.25% -137.92%
Cash Return on Invested Capital (CROIC)		 -24.80% -27.60% -30.19% 96.91% -38.26% -40.20% -53.57% -183.50% -41.14% -18.31% 20.65%
Operating Return on Assets (OROA)		 -12.98% -17.77% -12.52% -8.82% -7.10% -8.64% -9.97% -22.21% -10.36% -52.68% -69.83%
Return on Assets (ROA)		 -11.63% -16.43% -11.30% -7.54% -7.64% -10.20% -11.73% -24.54% -13.15% -55.71% -72.81%
Return on Common Equity (ROCE)		 -17.62% -24.70% -17.85% -12.35% -11.68% -15.19% -17.70% -33.13% -17.68% -92.25% -137.92%
Return on Equity Simple (ROE_SIMPLE)		 -32.33% 0.00% -29.55% -24.21% -22.29% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -17 -23 -16 -11 -9.58 -12 -14 -26 -12 -60 -75
NOPAT Margin		 -23.32% -30.57% -21.37% -14.58% -12.55% -15.39% -17.78% -32.17% -16.06% -80.69% -105.34%
Net Nonoperating Expense Percent (NNEP)		 -3.52% -6.50% -4.42% -1.16% -6.34% -16.96% -50.61% -11.93% 102.93% 128.53% 85.43%
Return On Investment Capital (ROIC_SIMPLE)		 - -3.86% - - - -1.64% -1.86% -5.19% -2.53% -15.10% -25.57%
Cost of Revenue to Revenue		 56.64% 59.37% 51.55% 52.78% 55.42% 56.42% 54.37% 52.63% 50.45% 47.26% 49.88%
SG&A Expenses to Revenue		 18.47% 20.55% 19.49% 18.92% 15.99% 19.70% 17.83% 10.26% 21.05% 14.79% 19.73%
R&D to Revenue		 23.95% 27.02% 19.90% 18.29% 18.59% 18.85% 19.12% 15.35% 16.09% 13.27% 13.82%
Operating Expenses to Revenue		 76.68% 84.30% 78.98% 68.05% 62.51% 65.56% 71.03% 93.33% 72.49% 168.00% 200.60%
Earnings before Interest and Taxes (EBIT)		 -25 -33 -23 -16 -14 -18 -20 -37 -18 -86 -106
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -17 -25 -14 -5.95 -3.14 -6.91 -7.56 -24 -4.42 -73 -94
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.51 1.45 1.21 1.06 1.39 1.18 0.84 0.76 0.60 0.69 0.68
Price to Tangible Book Value (P/TBV)		 4.63 5.18 4.32 4.49 11.14 22.18 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 1.99 1.80 1.46 1.26 1.63 1.40 1.02 0.83 0.63 0.54 0.31
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 1.74 1.60 1.27 1.41 1.44 1.18 0.86 0.79 0.67 0.75 0.76
Enterprise Value to Revenue (EV/Rev)		 1.57 1.50 1.19 0.23 1.49 1.37 1.15 1.01 0.83 0.73 0.46
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 28.89 78.49 0.00 0.00 309.94 7.28
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.45 0.00 0.00 0.00 0.00 0.00 0.00 2.23
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.60 0.62 0.70 0.00 0.97 1.05 1.02 0.44 0.46 0.62 1.11
Long-Term Debt to Equity		 0.60 0.62 0.69 0.00 0.32 0.41 0.40 0.44 0.46 0.62 1.10
Financial Leverage		 -0.33 -0.29 -0.27 -0.57 -0.22 -0.14 -0.05 -0.36 0.03 0.08 0.17
Leverage Ratio		 1.81 1.84 1.90 1.89 2.07 2.13 2.16 1.86 2.04 2.23 2.53
Compound Leverage Factor		 1.62 1.69 1.70 1.61 2.30 2.44 2.52 2.05 2.58 2.35 2.63
Debt to Total Capital		 37.32% 38.33% 41.06% 0.25% 49.29% 51.15% 50.40% 30.57% 31.57% 38.41% 52.61%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.55% 0.25% 32.91% 30.92% 30.48% 0.33% 0.34% 0.41% 0.56%
Long-Term Debt to Total Capital		 37.32% 38.33% 40.51% 0.00% 16.37% 20.22% 19.92% 30.25% 31.24% 38.00% 52.05%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 62.68% 61.67% 58.94% 99.75% 50.71% 48.85% 49.60% 69.43% 68.43% 61.59% 47.39%
Debt to EBITDA		 -2.42 -2.46 -3.06 -0.01 -7.19 -12.80 -16.25 -3.72 -3.61 -1.42 -0.79
Net Debt to EBITDA		 1.27 0.97 0.97 4.98 0.88 0.32 -1.74 -1.35 -1.45 -0.53 -0.23
Long-Term Debt to EBITDA		 -2.42 -2.46 -3.02 0.00 -2.39 -5.06 -6.42 -3.68 -3.57 -1.40 -0.78
Debt to NOPAT		 -2.49 -2.57 -3.10 -0.01 -5.79 -7.83 -8.14 -2.47 -2.37 -1.36 -0.89
Net Debt to NOPAT		 1.31 1.01 0.98 4.57 0.71 0.20 -0.87 -0.90 -0.95 -0.51 -0.26
Long-Term Debt to NOPAT		 -2.49 -2.57 -3.06 0.00 -1.92 -3.09 -3.22 -2.45 -2.35 -1.35 -0.88
Altman Z-Score		 -0.25 -0.49 -0.68 -1.20 -0.85 -0.93 -1.14 -1.78 -1.97 -3.16 -4.71
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 4.85 4.42 4.31 1.18 1.41 1.43 1.24 1.83 1.88 1.89 1.69
Quick Ratio		 4.67 4.25 4.14 1.14 1.36 1.38 1.20 1.68 1.73 1.73 1.56
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 6.41 -12 -19 213 -60 -91 -154 -380 -93 -7.99 160
Operating Cash Flow to CapEx		 2,241.01% -7,771.84% 5,007.80% 563.64% 884.33% -860.24% 42.23% 0.00% -186.35% 3,812.31% 5,542.22%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.39 0.41 0.41 0.42 0.40 0.39 0.39 0.48 0.45 0.46 0.46
Accounts Receivable Turnover		 6.07 5.47 5.13 5.58 6.18 5.22 5.28 5.13 5.66 5.35 4.91
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 11.34 11.46 11.61 11.59 11.19 11.13 11.05 10.72 10.45 9.84 9.09
Accounts Payable Turnover		 23.99 29.66 22.00 17.76 16.06 18.35 23.28 17.70 17.59 15.34 14.69
Days Sales Outstanding (DSO)		 60.18 66.76 71.17 65.37 59.05 69.93 69.14 71.17 64.53 68.22 74.33
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 15.22 12.31 16.59 20.55 22.73 19.89 15.68 20.63 20.75 23.80 24.85
Cash Conversion Cycle (CCC)		 44.96 54.46 54.57 44.82 36.32 50.03 53.46 50.55 43.78 44.42 49.48
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 262 277 278 50 313 356 418 403 394 303 183
Invested Capital Turnover		 1.06 1.05 1.07 1.85 1.05 0.97 0.89 1.40 0.89 0.94 1.01
Increase / (Decrease) in Invested Capital		 -24 -11 3.18 -224 50 78 139 354 81 -52 -235
Enterprise Value (EV)		 456 443 354 70 450 421 359 318 262 227 138
Market Capitalization		 576 533 433 377 492 430 318 262 201 169 93
Book Value per Share		 $6.71 $6.38 $6.10 $6.05 $5.87 $6.00 $5.37 $4.99 $4.72 $3.47 $1.88
Tangible Book Value per Share		 $2.18 $1.79 $1.71 $1.42 $0.73 $0.32 ($0.61) ($0.53) ($0.61) ($0.58) ($0.60)
Total Capital		 610 595 606 358 700 748 760 501 485 399 292
Total Debt		 228 228 249 0.89 345 382 383 153 153 153 153
Total Long-Term Debt		 228 228 246 0.00 115 151 151 151 152 152 152
Net Debt		 -120 -90 -79 -307 -42 -9.64 41 56 62 58 45
Capital Expenditures (CapEx)		 0.14 0.25 0.21 0.29 0.70 0.41 0.66 -0.25 0.25 0.26 0.33
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -23 -13 -20 -249 -23 -21 -27 -14 -12 -14 -32
Debt-free Net Working Capital (DFNWC)		 324 304 308 59 364 371 315 83 79 81 76
Net Working Capital (NWC)		 324 304 305 58 134 140 83 82 77 80 75
Net Nonoperating Expense (NNE)		 4.83 7.36 4.62 2.45 5.15 8.42 9.62 15 9.97 31 36
Net Nonoperating Obligations (NNO)		 -120 -90 -79 -307 -42 -9.64 41 56 62 58 45
Total Depreciation and Amortization (D&A)		 7.75 7.78 8.94 9.85 11 11 13 14 13 13 13
Debt-free, Cash-free Net Working Capital to Revenue		 -8.10% -4.52% -6.57% -83.25% -7.68% -6.86% -8.75% -4.42% -3.94% -4.62% -10.74%
Debt-free Net Working Capital to Revenue		 111.79% 102.85% 103.87% 19.68% 120.52% 121.01% 101.11% 26.38% 25.02% 26.15% 25.23%
Net Working Capital to Revenue		 111.79% 102.85% 102.74% 19.38% 44.24% 45.60% 26.71% 25.86% 24.51% 25.63% 24.70%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.39) ($0.52) ($0.35) ($0.23) ($0.24) ($0.33) ($0.35) ($0.59) ($0.32) ($1.29) ($1.53)
Adjusted Weighted Average Basic Shares Outstanding		 56.71M 56.42M 58.59M 59.30M 60.44M 60.18M 68.55M 69.63M 70.38M 69.90M 72.59M
Adjusted Diluted Earnings per Share		 ($0.39) ($0.52) ($0.35) ($0.23) ($0.24) ($0.33) ($0.35) ($0.59) ($0.32) ($1.29) ($1.53)
Adjusted Weighted Average Diluted Shares Outstanding		 56.71M 56.42M 58.59M 59.30M 60.44M 60.18M 68.55M 69.63M 70.38M 69.90M 72.59M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 57.55M 58.56M 59.03M 60.47M 60.85M 70.21M 69.60M 70.37M 70.73M 73.59M 73.89M
Normalized Net Operating Profit after Tax (NOPAT)		 -17 -23 -16 -11 -9.58 -12 -14 -5.83 -12 -60 -7.68
Normalized NOPAT Margin		 -23.32% -30.57% -21.37% -14.58% -12.55% -15.39% -17.78% -7.22% -16.06% -80.69% -10.86%
Pre Tax Income Margin		 -29.78% -40.18% -27.40% -17.71% -19.91% -25.18% -29.63% -50.66% -29.07% -121.38% -156.33%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 -1.46% -1.53% 0.00% 0.00% 0.00% 0.00% -6.88% -4.99% -4.65% -2.81% 0.00%

Financials Breakdown Chart

Key Financial Trends

Health Catalyst (NASDAQ: HCAT) is still in a loss-making phase, but the latest quarter shows some improvement in operating cash flow even as the income statement remains pressured by a large impairment charge. Over the last several quarters, revenue has been fairly stable, but profitability has been volatile and the balance sheet has shifted meaningfully after a major reduction in cash and investments compared with 2024.

  • Q1 2026 operating cash flow turned positive, with net cash from operating activities of $18.5 million versus $9.9 million in Q4 2025 and just $0.3 million in Q1 2025.
  • Revenue held relatively steady at $70.8 million in Q1 2026, versus $74.7 million in Q4 2025 and $79.4 million in Q1 2025.
  • Gross margin remains solid: Q1 2026 gross profit was $35.5 million on $70.8 million of revenue, or roughly 50% gross margin.
  • Cash and short-term investments totaled about $108.8 million at the end of Q1 2026, giving the company a meaningful liquidity cushion.
  • Current assets exceeded current liabilities in Q1 2026, with $182.3 million in current assets versus $107.6 million in current liabilities.
  • Accounts receivable improved modestly to $59.1 million from $60.1 million in Q3 2025, suggesting no major deterioration in collections.
  • The business is still unprofitable, posting a Q1 2026 net loss of $111.0 million and EPS of $(1.53), driven largely by a $95.5 million impairment charge.
  • Long-term debt remains material at $151.7 million in Q1 2026, though it is lower than the much higher debt burden seen in early 2025.
  • Deferred revenue remains a key operating liability, with current deferred revenue of $69.7 million in Q1 2026, which is supportive of near-term revenue visibility.
  • Share count has risen over time, with weighted average basic shares at 72.6 million in Q1 2026 versus 58.6 million in Q1 2024, which can pressure per-share results.
  • Q1 2026 included a huge impairment charge of $95.5 million, which pushed operating income deeply negative and highlights ongoing balance-sheet or asset-quality concerns.
  • Operating income remains sharply negative at $(106.5) million in Q1 2026, showing the company is not yet close to consistent operating profitability.
  • Cash generation has been inconsistent over the past year: operating cash flow was negative in Q2 2025 and Q3 2025 before improving in Q4 2025 and Q1 2026.
  • Balance-sheet leverage increased sharply in 2025 after the company went from a large net cash position in Q1 2025 to a debt-heavy structure by year-end, before partially recovering in 2026.
  • Retained earnings remain deeply negative at $(1.48) billion, reflecting years of cumulative losses.

Bottom line: Health Catalyst is showing signs of improved cash flow discipline, but investors should not ignore the very large impairment charge, ongoing net losses, and debt load. The company’s revenue looks relatively stable, yet the path to sustained earnings profitability still appears uncertain.

07/14/26 07:50 AM ETAI Generated. May Contain Errors.

Health Catalyst Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Health Catalyst's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Health Catalyst's net income appears to be on an upward trend, with a most recent value of -$177.97 million in 2025, rising from -$61.98 million in 2018. The previous period was -$69.50 million in 2024. Check out Health Catalyst's forecast to explore projected trends and price targets.

Health Catalyst's total operating income in 2025 was -$160.85 million, based on the following breakdown:
  • Total Gross Profit: $151.68 million
  • Total Operating Expenses: $312.53 million

Over the last 7 years, Health Catalyst's total revenue changed from $112.57 million in 2018 to $311.14 million in 2025, a change of 176.4%.

Health Catalyst's total liabilities were at $256.86 million at the end of 2025, a 48.0% decrease from 2024, and a 238.4% increase since 2018.

In the past 7 years, Health Catalyst's cash and equivalents has ranged from $18.03 million in 2019 to $249.65 million in 2024, and is currently $50.81 million as of their latest financial filing in 2025.

Over the last 7 years, Health Catalyst's book value per share changed from -78.10 in 2018 to 3.47 in 2025, a change of -104.4%.


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Financial statements for NASDAQ:HCAT last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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