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Health Catalyst (HCAT) Financials

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$1.16 -0.19 (-13.81%)
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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 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 -137 -118 -70
Consolidated Net Income / (Loss)		 -137 -118 -70
Net Income / (Loss) Continuing Operations		 -137 -118 -70
Total Pre-Tax Income 		-142 -118 -69
Total Operating Income		 -140 -127 -70
Total Gross Profit		 133 132 141
Total Revenue		 276 296 307
Operating Revenue		 276 296 307
Total Cost of Revenue		 143 164 166
Operating Cost of Revenue		 143 164 166
Total Operating Expenses		 273 259 211
Selling, General & Admin Expense		 62 77 57
Marketing Expense		 88 67 54
Research & Development Expense		 76 73 58
Depreciation Expense		 48 42 41
Total Other Income / (Expense), net		 -1.68 9.11 0.64
Interest & Investment Income		 -1.68 9.11 0.64
Income Tax Expense		 -4.28 0.36 0.33
Basic Earnings per Share		 ($2.56) ($2.09) ($1.15)
Weighted Average Basic Shares Outstanding		 53.72M 56.42M 60.18M
Diluted Earnings per Share		 ($2.63) ($2.09) ($1.15)
Weighted Average Diluted Shares Outstanding		 54.08M 56.42M 60.18M
Weighted Average Basic & Diluted Shares Outstanding		 55.81M 58.56M 70.21M

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 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 -46 -36 -33 -33 -22 -30 -21 -14 -15 -21
Consolidated Net Income / (Loss)		 -46 -36 -33 -33 -22 -30 -21 -14 -15 -21
Net Income / (Loss) Continuing Operations		 -46 -36 -33 -33 -22 -30 -21 -14 -15 -21
Total Pre-Tax Income 		-46 -36 -33 -33 -22 -30 -20 -13 -15 -20
Total Operating Income		 -46 -37 -35 -35 -25 -33 -23 -16 -14 -18
Total Gross Profit		 32 31 36 34 32 31 36 36 34 35
Total Revenue		 68 69 74 73 74 75 75 76 76 80
Operating Revenue		 68 69 74 73 74 75 75 76 76 80
Total Cost of Revenue		 36 38 38 39 42 45 39 40 42 45
Operating Cost of Revenue		 36 38 38 39 42 45 39 40 42 45
Total Operating Expenses		 78 68 70 68 57 63 59 52 48 52
Selling, General & Admin Expense		 19 16 24 24 14 15 15 14 12 16
Marketing Expense		 25 20 19 16 15 17 19 13 11 11
Research & Development Expense		 21 20 17 18 18 20 15 14 14 15
Depreciation Expense		 12 12 11 11 10 10 11 11 9.98 10
Total Other Income / (Expense), net		 0.14 1.02 1.79 2.09 2.61 2.62 2.34 2.36 -1.51 -2.55
Interest & Investment Income		 - - 1.79 2.09 2.61 2.62 2.34 2.36 -1.51 -2.55
Income Tax Expense		 0.16 0.06 0.07 0.09 0.06 0.14 0.11 0.07 -0.48 0.63
Basic Earnings per Share		 ($0.84) ($0.68) ($0.60) ($0.58) ($0.39) ($0.52) ($0.35) ($0.23) ($0.24) ($0.33)
Weighted Average Basic Shares Outstanding		 54.30M 53.72M 55.48M 55.98M 56.71M 56.42M 58.59M 59.30M 60.44M 60.18M
Diluted Earnings per Share		 ($0.84) ($0.63) ($0.60) ($0.58) ($0.39) ($0.52) ($0.35) ($0.23) ($0.24) ($0.33)
Weighted Average Diluted Shares Outstanding		 54.30M 54.08M 55.48M 55.98M 56.71M 56.42M 58.59M 59.30M 60.44M 60.18M
Weighted Average Basic & Diluted Shares Outstanding		 54.75M 55.81M 56.26M 56.96M 57.55M 58.56M 59.03M 60.47M 60.85M 70.21M

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 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 -77 -10 143
Net Cash From Operating Activities		 -35 -33 15
Net Cash From Continuing Operating Activities		 -35 -33 15
Net Income / (Loss) Continuing Operations		 -137 -118 -70
Consolidated Net Income / (Loss)		 -137 -118 -70
Depreciation Expense		 48 42 41
Amortization Expense		 -0.74 -8.21 -1.50
Non-Cash Adjustments To Reconcile Net Income		 78 65 46
Changes in Operating Assets and Liabilities, net		 -23 -14 -2.08
Net Cash From Investing Activities		 -39 20 -23
Net Cash From Continuing Investing Activities		 -39 20 -23
Purchase of Property, Plant & Equipment		 -2.17 -1.24 -1.62
Acquisitions		 -30 -13 -81
Purchase of Investments		 -309 -291 -168
Sale of Property, Plant & Equipment		 0.03 0.03 0.01
Sale and/or Maturity of Investments		 315 337 242
Other Investing Activities, net		 -13 -12 -14
Net Cash From Financing Activities		 -2.61 2.73 152
Net Cash From Continuing Financing Activities		 -2.61 2.73 152
Repayment of Debt		 0.00 0.00 -3.11
Repurchase of Common Equity		 -8.39 -1.81 0.00
Issuance of Debt		 0.00 0.00 152
Issuance of Common Equity		 3.15 3.59 2.41
Other Financing Activities, net		 2.63 0.95 0.17
Effect of Exchange Rate Changes		 -0.01 0.02 -0.03
Cash Interest Paid		 5.75 5.75 10
Cash Income Taxes Paid		 0.30 0.27 0.27

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 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Change in Cash & Equivalents		 -53 -7.91 17 -18 -21 11 95 0.53 126 -79
Net Cash From Operating Activities		 -12 -15 -5.58 -12 3.12 -19 10 1.61 6.21 -3.53
Net Cash From Continuing Operating Activities		 -12 -15 -5.58 -12 3.12 -19 10 1.61 6.21 -3.53
Net Income / (Loss) Continuing Operations		 -46 -36 -33 -33 -22 -30 -21 -14 -15 -21
Consolidated Net Income / (Loss)		 -46 -36 -33 -33 -22 -30 -21 -14 -15 -21
Depreciation Expense		 12 12 11 11 10 10 11 11 9.98 10
Amortization Expense		 -0.64 -1.25 -1.60 -1.64 -2.44 -2.53 -1.59 -0.80 0.57 0.32
Non-Cash Adjustments To Reconcile Net Income		 23 16 16 18 15 15 16 11 10 9.29
Changes in Operating Assets and Liabilities, net		 -1.36 -5.83 2.06 -6.15 2.33 -12 5.69 -5.38 0.33 -2.73
Net Cash From Investing Activities		 -33 6.26 23 -7.42 -25 30 84 -1.78 7.65 -113
Net Cash From Continuing Investing Activities		 -33 6.26 23 -7.42 -25 30 84 -1.78 7.65 -113
Purchase of Property, Plant & Equipment		 -1.19 -0.42 -0.43 -0.41 -0.15 -0.26 -0.21 -0.29 -0.71 -0.41
Acquisitions		 -0.02 -0.94 -0.10 -0.87 -0.02 -12 -0.08 -19 -36 -25
Purchase of Investments		 -114 -34 -81 -84 -89 -36 -50 - - -118
Sale of Property, Plant & Equipment		 0.01 0.01 0.01 0.01 0.01 0.01 0.00 0.00 0.00 0.00
Sale and/or Maturity of Investments		 85 45 107 82 68 81 137 21 48 36
Other Investing Activities, net		 -3.00 -2.96 -2.86 -3.53 -2.94 -2.63 -2.53 -3.76 -3.57 -4.42
Net Cash From Financing Activities		 -7.54 0.64 0.09 1.20 1.04 0.40 0.86 0.70 112 38
Net Cash From Continuing Financing Activities		 -7.54 0.64 0.09 1.20 1.04 0.40 0.86 0.70 112 38
Repayment of Debt		 - - - - - - - - - 0.54
Issuance of Debt		 - - - - - - - - - 37
Issuance of Common Equity		 1.03 0.60 1.17 1.03 1.00 0.38 0.84 0.59 0.63 0.35
Effect of Exchange Rate Changes		 -0.01 0.02 0.01 -0.00 -0.02 0.03 -0.02 -0.00 0.08 -0.10

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 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Total Assets		 752 702 859
Total Current Assets		 428 393 466
Cash & Equivalents		 116 106 250
Short-Term Investments		 247 211 142
Accounts Receivable		 48 60 57
Prepaid Expenses		 16 15 16
Plant, Property, & Equipment, net		 26 26 29
Total Noncurrent Assets		 299 283 364
Goodwill		 186 191 260
Intangible Assets		 92 73 86
Other Noncurrent Operating Assets		 20 19 18
Total Liabilities & Shareholders' Equity		 752 702 859
Total Liabilities		 327 335 494
Total Current Liabilities		 83 89 326
Short-Term Debt		 - 0.00 231
Accounts Payable		 4.42 6.64 11
Accrued Expenses		 20 23 26
Current Deferred Revenue		 55 56 53
Other Current Liabilities		 3.43 3.36 3.61
Total Noncurrent Liabilities		 245 246 168
Long-Term Debt		 227 228 151
Noncurrent Deferred Revenue		 0.11 0.08 0.25
Other Noncurrent Operating Liabilities		 18 18 16
Commitments & Contingencies		 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 425 367 365
Total Preferred & Common Equity		 425 367 365
Preferred Stock		 0.00 0.00 0.00
Total Common Equity		 425 367 365
Common Stock		 1,425 1,484 1,553
Retained Earnings		 -999 -1,117 -1,187
Accumulated Other Comprehensive Income / (Loss)		 -0.65 0.03 -0.84

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
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024
Total Assets		 776 752 723 713 695 692 813
Total Current Assets		 443 435 411 408 397 376 457
Cash & Equivalents		 124 133 116 95 201 202 328
Short-Term Investments		 256 223 228 253 126 106 59
Accounts Receivable		 50 62 52 46 54 55 52
Prepaid Expenses		 14 16 15 15 15 13 19
Plant, Property, & Equipment, net		 25 26 26 26 25 26 28
Total Noncurrent Assets		 308 291 286 278 273 290 328
Goodwill		 186 186 186 186 191 206 234
Intangible Assets		 101 84 79 72 66 67 76
Other Noncurrent Operating Assets		 21 21 21 20 16 17 17
Total Liabilities & Shareholders' Equity		 776 752 723 713 695 692 813
Total Liabilities		 336 347 333 331 338 335 458
Total Current Liabilities		 91 102 87 84 92 318 324
Short-Term Debt		 0.00 - - - 3.35 0.89 230
Accounts Payable		 6.82 9.24 7.97 6.33 5.70 11 14
Accrued Expenses		 24 24 16 21 20 18 24
Current Deferred Revenue		 56 66 60 53 64 56 52
Other Current Liabilities		 3.46 3.39 3.47 3.40 - 232 3.33
Total Noncurrent Liabilities		 245 245 246 246 246 17 134
Long-Term Debt		 226 227 227 228 228 0.00 115
Noncurrent Deferred Revenue		 0.32 0.19 0.09 0.31 0.08 0.05 0.26
Other Noncurrent Operating Liabilities		 19 18 19 18 0.09 17 19
Commitments & Contingencies		 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
Total Preferred & Common Equity		 440 405 390 382 357 357 355
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 440 405 390 382 357 357 355
Common Stock		 1,404 1,438 1,455 1,469 1,495 1,508 1,521
Retained Earnings		 -963 -1,032 -1,065 -1,087 -1,138 -1,151 -1,166
Accumulated Other Comprehensive Income / (Loss)		 -0.88 -0.30 -0.20 -0.17 -0.12 -0.16 -0.11

Annual Metrics And Ratios for Health Catalyst

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

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - -
Revenue Growth		 14.18% 7.13% 3.60%
EBITDA Growth		 0.57% -0.47% 67.83%
EBIT Growth		 2.54% 9.36% 44.99%
NOPAT Growth		 2.54% 9.36% 44.99%
Net Income Growth		 10.32% 14.01% 41.17%
EPS Growth		 18.58% 20.53% 44.98%
Operating Cash Flow Growth		 -52.53% 6.21% 144.01%
Free Cash Flow Firm Growth		 29.29% 36.79% -63.06%
Invested Capital Growth		 9.67% -3.76% 28.26%
Revenue Q/Q Growth		 1.64% 2.04% 1.50%
EBITDA Q/Q Growth		 4.03% 1.41% 37.72%
EBIT Q/Q Growth		 5.42% 3.03% 17.96%
NOPAT Q/Q Growth		 5.42% 3.03% 17.96%
Net Income Q/Q Growth		 8.77% 4.43% 12.18%
EPS Q/Q Growth		 11.15% 5.00% 14.18%
Operating Cash Flow Q/Q Growth		 -16.70% -14.62% 1,624.50%
Free Cash Flow Firm Q/Q Growth		 57.88% -14.75% -15.61%
Invested Capital Q/Q Growth		 0.72% 5.67% 13.67%
Profitability Metrics		 - - -
Gross Margin		 48.21% 44.55% 45.92%
EBITDA Margin		 -33.47% -31.39% -9.74%
Operating Margin		 -50.68% -42.88% -22.77%
EBIT Margin		 -50.68% -42.88% -22.77%
Profit (Net Income) Margin		 -49.74% -39.92% -22.67%
Tax Burden Percent		 96.98% 100.30% 100.48%
Interest Burden Percent		 101.20% 92.82% 99.09%
Effective Tax Rate		 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -35.59% -31.43% -15.44%
ROIC Less NNEP Spread (ROIC-NNEP)		 -15.72% -5.56% 26.11%
Return on Net Nonoperating Assets (RNNOA)		 6.58% 1.59% -3.54%
Return on Equity (ROE)		 -29.02% -29.84% -18.99%
Cash Return on Invested Capital (CROIC)		 -44.82% -27.60% -40.20%
Operating Return on Assets (OROA)		 -17.67% -17.45% -8.95%
Return on Assets (ROA)		 -17.34% -16.25% -8.91%
Return on Common Equity (ROCE)		 -29.02% -29.84% -18.99%
Return on Equity Simple (ROE_SIMPLE)		 -32.33% -32.20% -19.03%
Net Operating Profit after Tax (NOPAT)		 -98 -89 -49
NOPAT Margin		 -35.48% -30.02% -15.94%
Net Nonoperating Expense Percent (NNEP)		 -19.88% -25.87% -41.55%
Return On Investment Capital (ROIC_SIMPLE)		 -15.04% -14.93% -6.54%
Cost of Revenue to Revenue		 51.79% 55.45% 54.08%
SG&A Expenses to Revenue		 22.34% 25.87% 18.53%
R&D to Revenue		 27.40% 24.54% 18.90%
Operating Expenses to Revenue		 98.90% 87.43% 68.69%
Earnings before Interest and Taxes (EBIT)		 -140 -127 -70
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -92 -93 -30
Valuation Ratios		 - - -
Price to Book Value (P/BV)		 1.37 1.45 1.18
Price to Tangible Book Value (P/TBV)		 3.96 5.18 22.18
Price to Revenue (P/Rev)		 2.11 1.80 1.40
Price to Earnings (P/E)		 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 1.55 1.60 1.18
Enterprise Value to Revenue (EV/Rev)		 1.61 1.50 1.37
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 28.89
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00
Leverage & Solvency		 - - -
Debt to Equity		 0.53 0.62 1.05
Long-Term Debt to Equity		 0.53 0.62 0.41
Financial Leverage		 -0.42 -0.29 -0.14
Leverage Ratio		 1.67 1.84 2.13
Compound Leverage Factor		 1.69 1.70 2.11
Debt to Total Capital		 34.77% 38.33% 51.15%
Short-Term Debt to Total Capital		 0.00% 0.00% 30.92%
Long-Term Debt to Total Capital		 34.77% 38.33% 20.22%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00%
Common Equity to Total Capital		 65.23% 61.67% 48.85%
Debt to EBITDA		 -2.45 -2.46 -12.80
Net Debt to EBITDA		 1.48 0.97 0.32
Long-Term Debt to EBITDA		 -2.45 -2.46 -5.06
Debt to NOPAT		 -2.31 -2.57 -7.83
Net Debt to NOPAT		 1.40 1.01 0.20
Long-Term Debt to NOPAT		 -2.31 -2.57 -3.09
Altman Z-Score		 -0.49 -0.93 -1.13
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00%
Liquidity Ratios		 - - -
Current Ratio		 5.18 4.42 1.43
Quick Ratio		 4.99 4.25 1.38
Cash Flow Metrics		 - - -
Free Cash Flow to Firm (FCFF)		 -123 -78 -127
Operating Cash Flow to CapEx		 -1,649.67% -2,745.23% 908.23%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00
Efficiency Ratios		 - - -
Asset Turnover		 0.35 0.41 0.39
Accounts Receivable Turnover		 5.71 5.47 5.22
Inventory Turnover		 0.00 0.00 0.00
Fixed Asset Turnover		 11.22 11.46 11.13
Accounts Payable Turnover		 31.38 29.66 18.35
Days Sales Outstanding (DSO)		 63.93 66.76 69.93
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 11.63 12.31 19.89
Cash Conversion Cycle (CCC)		 52.30 54.46 50.03
Capital & Investment Metrics		 - - -
Invested Capital		 288 277 356
Invested Capital Turnover		 1.00 1.05 0.97
Increase / (Decrease) in Invested Capital		 25 -11 78
Enterprise Value (EV)		 445 443 421
Market Capitalization		 582 533 430
Book Value per Share		 $7.76 $6.38 $6.00
Tangible Book Value per Share		 $2.68 $1.79 $0.32
Total Capital		 652 595 748
Total Debt		 227 228 382
Total Long-Term Debt		 227 228 151
Net Debt		 -137 -90 -9.64
Capital Expenditures (CapEx)		 2.14 1.21 1.60
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -18 -13 -21
Debt-free Net Working Capital (DFNWC)		 345 304 371
Net Working Capital (NWC)		 345 304 140
Net Nonoperating Expense (NNE)		 39 29 21
Net Nonoperating Obligations (NNO)		 -137 -90 -9.64
Total Depreciation and Amortization (D&A)		 48 34 40
Debt-free, Cash-free Net Working Capital to Revenue		 -6.59% -4.52% -6.86%
Debt-free Net Working Capital to Revenue		 125.00% 102.85% 121.01%
Net Working Capital to Revenue		 125.00% 102.85% 45.60%
Earnings Adjustments		 - - -
Adjusted Basic Earnings per Share		 ($2.56) ($2.09) ($1.15)
Adjusted Weighted Average Basic Shares Outstanding		 53.72M 56.42M 60.18M
Adjusted Diluted Earnings per Share		 ($2.63) ($2.09) ($1.15)
Adjusted Weighted Average Diluted Shares Outstanding		 54.08M 56.42M 60.18M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 55.81M 58.56M 70.21M
Normalized Net Operating Profit after Tax (NOPAT)		 -98 -89 -49
Normalized NOPAT Margin		 -35.48% -30.02% -15.94%
Pre Tax Income Margin		 -51.29% -39.80% -22.56%
Debt Service Ratios		 - - -
EBIT to Interest Expense		 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00
Payout Ratios		 - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00%
Augmented Payout Ratio		 -6.11% -1.53% 0.00%

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 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 10.72% 6.87% 8.49% 3.65% 7.93% 8.56% 1.16% 3.67% 3.50% 6.02%
EBITDA Growth		 -19.40% 12.84% -114.00% -26.37% 50.48% 5.04% 45.64% 76.68% 81.37% 72.35%
EBIT Growth		 -8.22% 17.92% -43.40% -4.30% 46.24% 10.78% 34.66% 54.34% 44.32% 46.62%
NOPAT Growth		 -8.22% 17.92% -43.40% -4.30% 46.24% 10.78% 34.66% 54.34% 44.32% 46.62%
Net Income Growth		 -14.30% 26.96% -47.79% 2.44% 51.83% 15.29% 37.97% 58.56% 33.16% 31.80%
EPS Growth		 -2.44% 34.38% -11.11% 6.45% 53.57% 17.46% 41.67% 60.34% 38.46% 36.54%
Operating Cash Flow Growth		 -124.46% -51.62% -581.87% -20.86% 125.89% -28.47% 283.98% 113.93% 99.29% 81.48%
Free Cash Flow Firm Growth		 -414.54% 51.45% 93.85% 98.52% 102.90% 76.27% -10.72% 4,884.64% -1,036.28% -646.75%
Invested Capital Growth		 195.97% 9.67% -2.53% -6.75% -8.26% -3.76% 1.16% -81.84% 19.23% 28.26%
Revenue Q/Q Growth		 -3.23% 1.18% 6.80% -0.89% 0.76% 1.78% -0.48% 1.58% 0.59% 4.26%
EBITDA Q/Q Growth		 -68.24% 22.52% 3.08% -0.02% 34.07% -48.59% 44.52% 57.09% 47.32% -120.47%
EBIT Q/Q Growth		 -37.75% 19.63% 4.98% 0.85% 29.00% -33.38% 30.42% 30.71% 13.41% -27.86%
NOPAT Q/Q Growth		 -37.75% 19.63% 4.98% 0.85% 29.00% -33.38% 30.42% 30.71% 13.41% -27.86%
Net Income Q/Q Growth		 -36.82% 21.76% 7.24% 1.74% 32.44% -37.58% 32.08% 34.35% -8.95% -40.38%
EPS Q/Q Growth		 -35.48% 25.00% 4.76% 3.33% 32.76% -33.33% 32.69% 34.29% -4.35% -37.50%
Operating Cash Flow Q/Q Growth		 -25.64% -23.19% 62.35% -107.42% 126.91% -711.27% 153.92% -84.30% 285.11% -156.81%
Free Cash Flow Firm Q/Q Growth		 26.35% 76.90% 66.18% 74.30% 244.32% -289.17% -57.82% 1,210.44% -128.24% -50.88%
Invested Capital Q/Q Growth		 -2.43% 0.72% -4.49% -0.66% -4.01% 5.67% 0.39% -82.16% 530.17% 13.67%
Profitability Metrics		 - - - - - - - - - -
Gross Margin		 46.84% 44.90% 48.15% 46.13% 43.36% 40.63% 48.45% 47.22% 44.58% 43.58%
EBITDA Margin		 -49.72% -38.07% -34.55% -34.87% -22.81% -33.30% -18.57% -7.84% -4.11% -8.69%
Operating Margin		 -66.89% -53.13% -47.27% -47.28% -33.32% -43.66% -30.53% -20.83% -17.93% -21.98%
EBIT Margin		 -66.89% -53.13% -47.27% -47.28% -33.32% -43.66% -30.53% -20.83% -17.93% -21.98%
Profit (Net Income) Margin		 -66.91% -51.74% -44.93% -44.55% -29.86% -40.37% -27.55% -17.81% -19.29% -25.97%
Tax Burden Percent		 100.34% 100.17% 100.21% 100.26% 100.27% 100.47% 100.55% 100.52% 96.88% 103.12%
Interest Burden Percent		 99.69% 97.22% 94.86% 93.96% 89.39% 92.02% 89.75% 85.06% 111.06% 114.56%
Effective Tax Rate		 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)		 -66.52% -37.31% -33.48% -33.26% -24.67% -32.00% -22.92% -27.04% -13.18% -14.91%
ROIC Less NNEP Spread (ROIC-NNEP)		 -62.00% -32.24% -28.16% -27.53% -21.15% -25.51% -18.50% -25.88% -6.84% 2.05%
Return on Net Nonoperating Assets (RNNOA)		 38.02% 13.49% 10.44% 9.38% 7.05% 7.30% 5.07% 14.69% 1.50% -0.28%
Return on Equity (ROE)		 -28.51% -23.82% -23.04% -23.89% -17.62% -24.70% -17.85% -12.35% -11.68% -15.19%
Cash Return on Invested Capital (CROIC)		 -153.15% -44.82% -35.26% -30.58% -24.80% -27.60% -30.19% 96.91% -38.26% -40.20%
Operating Return on Assets (OROA)		 -22.42% -18.53% -16.90% -17.54% -12.98% -17.77% -12.52% -8.82% -7.10% -8.64%
Return on Assets (ROA)		 -22.43% -18.04% -16.07% -16.53% -11.63% -16.43% -11.30% -7.54% -7.64% -10.20%
Return on Common Equity (ROCE)		 -28.51% -23.82% -23.04% -23.89% -17.62% -24.70% -17.85% -12.35% -11.68% -15.19%
Return on Equity Simple (ROE_SIMPLE)		 -34.23% 0.00% -36.56% -37.79% -32.33% 0.00% -29.55% -24.21% -22.29% 0.00%
Net Operating Profit after Tax (NOPAT)		 -32 -26 -24 -24 -17 -23 -16 -11 -9.58 -12
NOPAT Margin		 -46.82% -37.19% -33.09% -33.10% -23.32% -30.57% -21.37% -14.58% -12.55% -15.39%
Net Nonoperating Expense Percent (NNEP)		 -4.53% -5.08% -5.32% -5.73% -3.52% -6.50% -4.42% -1.16% -6.34% -16.96%
Return On Investment Capital (ROIC_SIMPLE)		 - -3.95% - - - -3.86% - - - -1.64%
Cost of Revenue to Revenue		 53.16% 55.10% 51.85% 53.87% 56.64% 59.37% 51.55% 52.78% 55.42% 56.42%
SG&A Expenses to Revenue		 28.08% 23.35% 32.26% 32.33% 18.47% 20.55% 19.49% 18.92% 15.99% 19.70%
R&D to Revenue		 30.39% 28.36% 23.13% 24.03% 23.95% 27.02% 19.90% 18.29% 18.59% 18.85%
Operating Expenses to Revenue		 113.72% 98.03% 95.41% 93.42% 76.68% 84.30% 78.98% 68.05% 62.51% 65.56%
Earnings before Interest and Taxes (EBIT)		 -46 -37 -35 -35 -25 -33 -23 -16 -14 -18
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -34 -26 -26 -26 -17 -25 -14 -5.95 -3.14 -6.91
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 1.21 1.37 1.61 1.80 1.51 1.45 1.21 1.06 1.39 1.18
Price to Tangible Book Value (P/TBV)		 3.46 3.96 4.83 5.63 4.63 5.18 4.32 4.49 11.14 22.18
Price to Revenue (P/Rev)		 1.95 2.11 2.31 2.47 1.99 1.80 1.46 1.26 1.63 1.40
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
Dividend Yield		 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%
Enterprise Value to Invested Capital (EV/IC)		 1.32 1.55 1.89 2.15 1.74 1.60 1.27 1.41 1.44 1.18
Enterprise Value to Revenue (EV/Rev)		 1.39 1.61 1.85 2.06 1.57 1.50 1.19 0.23 1.49 1.37
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
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
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
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 28.89
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.45 0.00 0.00
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.51 0.53 0.56 0.58 0.60 0.62 0.70 0.00 0.97 1.05
Long-Term Debt to Equity		 0.51 0.53 0.56 0.58 0.60 0.62 0.69 0.00 0.32 0.41
Financial Leverage		 -0.61 -0.42 -0.37 -0.34 -0.33 -0.29 -0.27 -0.57 -0.22 -0.14
Leverage Ratio		 1.64 1.67 1.78 1.79 1.81 1.84 1.90 1.89 2.07 2.13
Compound Leverage Factor		 1.63 1.63 1.69 1.68 1.62 1.69 1.70 1.61 2.30 2.44
Debt to Total Capital		 33.95% 34.77% 35.90% 36.83% 37.32% 38.33% 41.06% 0.25% 49.29% 51.15%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.55% 0.25% 32.91% 30.92%
Long-Term Debt to Total Capital		 33.95% 34.77% 35.90% 36.83% 37.32% 38.33% 40.51% 0.00% 16.37% 20.22%
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%
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%
Common Equity to Total Capital		 66.05% 65.23% 64.10% 63.17% 62.68% 61.67% 58.94% 99.75% 50.71% 48.85%
Debt to EBITDA		 -2.35 -2.45 -2.14 -2.04 -2.42 -2.46 -3.06 -0.01 -7.19 -12.80
Net Debt to EBITDA		 1.60 1.48 1.23 1.05 1.27 0.97 0.97 4.98 0.88 0.32
Long-Term Debt to EBITDA		 -2.35 -2.45 -2.14 -2.04 -2.42 -2.46 -3.02 0.00 -2.39 -5.06
Debt to NOPAT		 -2.18 -2.31 -2.15 -2.14 -2.49 -2.57 -3.10 -0.01 -5.79 -7.83
Net Debt to NOPAT		 1.49 1.40 1.23 1.10 1.31 1.01 0.98 4.57 0.71 0.20
Long-Term Debt to NOPAT		 -2.18 -2.31 -2.15 -2.14 -2.49 -2.57 -3.06 0.00 -1.92 -3.09
Altman Z-Score		 -0.09 -0.04 -0.04 -0.02 -0.25 -0.49 -0.68 -1.20 -0.85 -0.93
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - -
Current Ratio		 4.87 5.18 4.24 4.74 4.85 4.42 4.31 1.18 1.41 1.43
Quick Ratio		 4.72 4.99 4.09 4.57 4.67 4.25 4.14 1.14 1.36 1.38
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -221 -51 -17 -4.44 6.41 -12 -19 213 -60 -91
Operating Cash Flow to CapEx		 -1,016.13% -3,650.49% -1,331.74% -2,879.10% 2,241.01% -7,771.84% 5,007.80% 563.64% 884.33% -860.24%
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
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
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
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.34 0.35 0.36 0.37 0.39 0.41 0.41 0.42 0.40 0.39
Accounts Receivable Turnover		 5.59 5.71 5.40 5.68 6.07 5.47 5.13 5.58 6.18 5.22
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 11.81 11.22 10.99 10.81 11.34 11.46 11.61 11.59 11.19 11.13
Accounts Payable Turnover		 23.96 31.38 19.51 22.27 23.99 29.66 22.00 17.76 16.06 18.35
Days Sales Outstanding (DSO)		 65.28 63.93 67.62 64.21 60.18 66.76 71.17 65.37 59.05 69.93
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 15.23 11.63 18.71 16.39 15.22 12.31 16.59 20.55 22.73 19.89
Cash Conversion Cycle (CCC)		 50.05 52.30 48.91 47.82 44.96 54.46 54.57 44.82 36.32 50.03
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 286 288 275 273 262 277 278 50 313 356
Invested Capital Turnover		 1.42 1.00 1.01 1.00 1.06 1.05 1.07 1.85 1.05 0.97
Increase / (Decrease) in Invested Capital		 189 25 -7.15 -20 -24 -11 3.18 -224 50 78
Enterprise Value (EV)		 377 445 521 587 456 443 354 70 450 421
Market Capitalization		 531 582 651 703 576 533 433 377 492 430
Book Value per Share		 $8.04 $7.76 $7.26 $6.93 $6.71 $6.38 $6.10 $6.05 $5.87 $6.00
Tangible Book Value per Share		 $2.80 $2.68 $2.41 $2.22 $2.18 $1.79 $1.71 $1.42 $0.73 $0.32
Total Capital		 666 652 632 617 610 595 606 358 700 748
Total Debt		 226 227 227 227 228 228 249 0.89 345 382
Total Long-Term Debt		 226 227 227 227 228 228 246 0.00 115 151
Net Debt		 -154 -137 -130 -117 -120 -90 -79 -307 -42 -9.64
Capital Expenditures (CapEx)		 1.18 0.41 0.42 0.40 0.14 0.25 0.21 0.29 0.70 0.41
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -28 -18 -25 -20 -23 -13 -20 -249 -23 -21
Debt-free Net Working Capital (DFNWC)		 352 345 332 324 324 304 308 59 364 371
Net Working Capital (NWC)		 352 345 332 324 324 304 305 58 134 140
Net Nonoperating Expense (NNE)		 14 10 8.75 8.38 4.83 7.36 4.62 2.45 5.15 8.42
Net Nonoperating Obligations (NNO)		 -154 -137 -130 -117 -120 -90 -79 -307 -42 -9.64
Total Depreciation and Amortization (D&A)		 12 10 9.39 9.09 7.75 7.78 8.94 9.85 11 11
Debt-free, Cash-free Net Working Capital to Revenue		 -10.21% -6.59% -8.83% -6.90% -8.10% -4.52% -6.57% -83.25% -7.68% -6.86%
Debt-free Net Working Capital to Revenue		 129.65% 125.00% 117.73% 113.91% 111.79% 102.85% 103.87% 19.68% 120.52% 121.01%
Net Working Capital to Revenue		 129.65% 125.00% 117.73% 113.91% 111.79% 102.85% 102.74% 19.38% 44.24% 45.60%
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.84) ($0.68) ($0.60) ($0.58) ($0.39) ($0.52) ($0.35) ($0.23) ($0.24) ($0.33)
Adjusted Weighted Average Basic Shares Outstanding		 54.30M 53.72M 55.48M 55.98M 56.71M 56.42M 58.59M 59.30M 60.44M 60.18M
Adjusted Diluted Earnings per Share		 ($0.84) ($0.63) ($0.60) ($0.58) ($0.39) ($0.52) ($0.35) ($0.23) ($0.24) ($0.33)
Adjusted Weighted Average Diluted Shares Outstanding		 54.30M 54.08M 55.48M 55.98M 56.71M 56.42M 58.59M 59.30M 60.44M 60.18M
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
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 54.75M 55.81M 56.26M 56.96M 57.55M 58.56M 59.03M 60.47M 60.85M 70.21M
Normalized Net Operating Profit after Tax (NOPAT)		 -32 -26 -24 -24 -17 -23 -16 -11 -9.58 -12
Normalized NOPAT Margin		 -46.82% -37.19% -33.09% -33.10% -23.32% -30.57% -21.37% -14.58% -12.55% -15.39%
Pre Tax Income Margin		 -66.68% -51.65% -44.84% -44.43% -29.78% -40.18% -27.40% -17.71% -19.91% -25.18%
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
NOPAT to Interest Expense		 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
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
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%
Augmented Payout Ratio		 -5.57% -6.11% -6.89% -6.92% -1.46% -1.53% 0.00% 0.00% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

Health Catalyst, Inc. (HCAT) has released quarterly results across 2024 and earlier years. Here are the key trends from the last four years, focused on income statements, cash flow, and the balance sheet. Bulleted points below are ordered with positives first, then neutral, then negatives.

  • Revenue scale: The company consistently reports revenue in the mid-to-high $70M per quarter in 2024 (e.g., Q4 2024 Operating Revenue of $79.6M), indicating a sizable market footprint.
  • Gross margin stability: Gross margin has generally hovered in the mid-40% range (Q4 2024 gross profit $34.69M on $79.61M revenue ≈ 43.6%), suggesting reasonable gross profitability despite losses at the bottom line.
  • Operating cash flow improvements in early 2024: Positive operating cash flow in multiple 2024 quarters, including Q1 2024 ($10.27M) and Q3 2024 ($6.21M), indicating improving cash generation before year-end pressures.
  • Liquidity on the balance sheet: Significant liquidity, with cash & equivalents around $328M (Q3 2024) and total assets around $813M, providing a liquidity runway for ongoing activities.
  • Modest year-over-year revenue change: Revenue in 2024 remained roughly in line with 2023 levels, with Q4 2024 revenue of $79.6M vs Q4 2023 revenue of about $75.1M, indicating only modest growth.
  • Net income trajectory: Net losses persist but show fluctuation across quarters (e.g., -$20.7M in Q4 2024 vs -$14.7M in Q3 2024), suggesting some quarterly improvements but no sustained profit yet.
  • Gross margin consistency: The mid-40s% gross margin trend persists across 2024 quarters, indicating ongoing gross profitability despite operating losses.
  • Ongoing net losses: Net income attributable to common shareholders remains negative in recent quarters (e.g., -$20.7M in Q4 2024; -$14.7M in Q3 2024), underscoring continued profitability challenges.
  • High operating expense burden: Total operating expenses remain high relative to revenue (Q4 2024 total operating expenses about $52.2M vs gross profit $34.7M), pressuring margins.
  • Cash burn from investing activities: Large investing outflows, including acquisitions and investments (e.g., Q4 2024 net cash from investing activities around -$112.7M), contribute to a negative quarterly change in cash and raise liquidity considerations for future funding needs.
05/14/26 11:55 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 2024 ended on December 31, 2024.

Health Catalyst's net income appears to be on a downward trend, with a most recent value of -$69.50 million in 2024, falling from -$137.40 million in 2022. The previous period was -$118.15 million in 2023. Find out what analysts predict for Health Catalyst in the coming months.

Health Catalyst's total operating income in 2024 was -$69.81 million, based on the following breakdown:
  • Total Gross Profit: $140.78 million
  • Total Operating Expenses: $210.59 million

Over the last 2 years, Health Catalyst's total revenue changed from $276.24 million in 2022 to $306.58 million in 2024, a change of 11.0%.

Health Catalyst's total liabilities were at $493.72 million at the end of 2024, a 47.4% increase from 2023, and a 50.9% increase since 2022.

In the past 2 years, Health Catalyst's cash and equivalents has ranged from $106.28 million in 2023 to $249.65 million in 2024, and is currently $249.65 million as of their latest financial filing in 2024.

Over the last 2 years, Health Catalyst's book value per share changed from 7.76 in 2022 to 6.00 in 2024, a change of -22.7%.


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Financial statements for NASDAQ:HCAT last updated on 4/6/2025 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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