Health Catalyst, Inc.

Listed Company

HCATCIK 0001636422NasdaqAcceleratedServices-Computer Programming, Data Processing, Etc.DelawareFY ends Dec 31

Period

FY 2025

Revenue

$311.14M

Net Income

—

Total Assets

—

Equity

—

Shares Out

73.89M

Op. Cash Flow

$731.0K

Business

Health Catalyst, Inc. is a provider of data and analytics technology and services to healthcare organizations, delivering a comprehensive solution that integrates a cloud-based platform, analytics applications, and expert services to enable data-informed clinical, financial, and operational improvements. It offers the Ignite data and analytics platform, purpose-built analytics applications across clinical, revenue, ambulatory, measures & registries, AI and interoperability tools, cybersecurity solutions, and professional services including implementation, managed and tech-enabled services, data engineering, and education. The company’s operations are organized around its platform, applications, and expertise/service segments that together drive measurable improvements. It primarily serves healthcare providers and related entities in the United States and opportunistically in select international markets through subscription contracts, direct sales, partnerships, and acquisitions.

Summary from filing dated 2025-02-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	311	307	296	276	242
Total cost of revenue, excluding depreciation and amortization	159	166	164	143	124
Sales and marketing	52	54	67	88	75
Research and development	50	58	73	76	63
General and administrative	50	57	77	62	86
Depreciation and amortization	51	41	42	48	38
Impairment of goodwill and intangible assets	110	0	0	—	—
Total operating expenses	313	211	259	273	261
Loss from operations	−161	−70	−127	−140	−144
Interest and other (expense) income, net	−16	637,000	9	−2	—
Loss before income taxes	−177	−69	−118	−142	−160
Income tax provision	716,000	333,000	356,000	−4	−7
Net loss	−178	−70	−118	−137	−153
Net loss per share, basic (in USD per share)	−2.55	−1.15	−2.09	−2.56	−3.23
Net loss per share, diluted (in USD per share)	−2.55	−1.15	−2.09	−2.63	−3.23
Weighted-average shares outstanding used in calculating net loss per share, basic (in shares)	70	60	56	54	47
Weighted-average shares outstanding used in calculating net loss per share, diluted (in shares)	70	60	56	54	47

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	51	250	106	116	193
Short-term investments	45	142	211	247	252
Accounts receivable, net	59	57	60	48	49
Prepaid expenses and other assets	14	16	15	16	15
Total current assets	169	466	393	428	508
Property and equipment, net	34	29	26	26	23
Intangible assets, net	78	86	73	92	105
Operating lease right-of-use assets	7	12	14	17	21
Goodwill	209	260	191	186	170
Other assets	6	6	5	4	4
Total assets	503	859	702	752	832
Accounts payable	9	11	7	4	5
Accrued liabilities	19	26	23	20	24
Deferred revenue	56	53	56	55	57
Operating lease liabilities	4	4	3	3	3
Current portion of long-term debt	2	231	0	—	—
Total current liabilities	90	326	89	83	93
Long-term debt, net of current portion	152	151	228	227	181
Deferred revenue, net of current portion	410,000	249,000	77,000	105,000	929,000
Operating lease liabilities, net of current portion	14	16	18	18	20
Contingent consideration liabilities, net of current portion	250,000	0	—	0	15
Other liabilities	798,000	154,000	74,000	121,000	113,000
Total liabilities	257	494	335	327	310
Commitments and contingencies (Notes 9 and 16)	—	—	—	—	—
Preferred stock, $0.001 par value per share; 25,000,000 shares authorized and no shares issued and outstanding as of December 31, 2025 and 2024	0	0	0	0	0
Common stock, $0.001 par value per share, and additional paid-in capital; 500,000,000 shares authorized as of December 31, 2025 and 2024; 72,027,332 and 64,043,799 shares issued and outstanding as of December 31, 2025 and 2024, respectively	1,609	1,553	1,484	1,425	1,401
Accumulated deficit	−1,365	−1,187	−1,117	−999	−879
Accumulated other comprehensive income (loss)	2	−835,000	33,000	−648,000	−67,000
Total stockholders equity	246	365	367	425	522
Total liabilities and stockholders equity	503	859	702	752	832

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Stock-based compensation expense	27	40	56	72	65
Investment discount and premium accretion	−2	−5	−10	−2	1
Impairment of long-lived assets	7	2	4	—	—
Non-cash operating lease expense	3	3	3	3	4
Provision for expected credit losses	2	1	2	691,000	499,000
Amortization of debt discount, issuance costs, and deferred financing costs	4	3	2	2	12
Deferred tax provision	81,000	77,000	8,000	−5	−7
Change in fair value of contingent consideration liabilities	−7	−2	0	−5	20
Other	−429,000	141,000	67,000	−145,000	−53,000
Accounts receivable, net	−2	4	−14	788,000	102,000
Prepaid expenses and other assets	2	−50,000	164,000	−478,000	−4
Accounts payable, accrued liabilities, and other liabilities	−12	6	5	−5	5
Deferred revenue	607,000	−7	−1	−6	8
Operating lease liabilities	−4	−3	−4	−4	−4
Net cash provided by (used in) operating activities	731,000	15	−33	−35	−23
Proceeds from the sale and maturity of short-term investments	164	242	337	315	187
Purchases of short-term investments	−65	−168	−291	−309	−261
Capitalization of internal-use software	−20	−14	−12	−13	−7
Acquisition of businesses, net of cash acquired	−41	−80	−11	−28	−47
Purchases of property and equipment	−968,000	−2	−1	−2	−10
Purchases of intangible assets	−805,000	−508,000	−1	−2	−1
Proceeds from the sale of property and equipment	44,000	13,000	31,000	29,000	22,000
Net cash provided by (used in) investing activities	36	−23	20	−39	−140
Proceeds from issuance of long-term debt, net of issuance costs	0	152	0	—	—
Payment of deferred financing costs	0	−2	0	0	—
Repayment of debt	232	959,000	0	—	—
Proceeds from employee stock purchase plan	2	2	4	3	5
Proceeds from exercise of stock options	0	169,000	950,000	4	20
Repurchase of common stock	−5	0	−2	−8	0
Net cash (used in) provided by financing activities	−236	152	3	−3	264
Effect of exchange rate changes on cash and cash equivalents	27,000	−34,000	21,000	−11,000	−10,000
Net (decrease) increase in cash and cash equivalents	−199	143	−10	−77	101
Cash paid for interest	22	10	6	6	6
Operating lease right-of-use assets obtained in exchange for operating lease obligations	806,000	1	2	169,000	0
Stock-based compensation capitalized as internal-use software	1	1	900,000	1	600,000
Capitalized internal-use software included in accounts payable and accrued liabilities	189,000	265,000	169,000	448,000	0
Purchase of property and equipment included in accounts payable and accrued liabilities	76,000	13,000	7,000	213,000	983,000
Purchase of intangible assets included in accounts payable and accrued liabilities	2	0	1	488,000	520,000

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