Health Catalyst, Inc. (HCAT)
Health Care · Healthcare data analytics and business intelligence software · Nasdaq
Health Catalyst provides cloud-based data analytics and improvement services to healthcare systems, but faces significant headwinds from customer financial strain, platform migration challenges, and macroeconomic pressures on healthcare budgets.
What Health Catalyst, Inc. does
Health Catalyst is a leading provider of cloud-based data and analytics technology and services to healthcare organizations. The company's solution comprises a data platform, analytics applications, and professional services expertise that enable healthcare providers to manage data, derive insights, and achieve measurable clinical, financial, and operational improvements. Its clients are primarily healthcare providers and health systems that use Health Catalyst's offerings to make data-informed decisions across their organizations.
Themes: ["Healthcare analytics and insights","Data-informed healthcare operations","Cloud healthcare technology","Healthcare provider software","Clinical and financial performance improvement","Health system digital transformation"]
Fundamentals
- Price$2.29 as of 2026-07-10 close
- Market cap$169M as of 2026-07-13
- 1-year return-42.6% as of 2026-07-10 close
- Net margin-87.7% as of 2026-07-13
- Gross margin+50.4% as of 2026-07-13
- ROE-99.8% as of 2026-07-13
- Debt / equity1.11 as of 2026-07-13
- Revenue growth (YoY)-2.8% as of 2026-07-13
- Revenue CAGR (3y)+4.0% SEC XBRL
- Beta1.56 as of 2026-07-13
Key risks (from latest filing)
["Significant revenue churn and down-sell from DOS to Ignite platform migration ($52M at-risk ARR estimated), with clients reducing engagement before full adoption of new platform","Severe macroeconomic headwinds impacting healthcare sector, including Medicaid cuts ($1 trillion reduction projected over 10 years under OBBBA), high interest rates, and inflation pressuring customer budgets and elongating sales cycles","Financial distress of core health system customer base creating demand uncertainty; company is experiencing net losses, goodwill impairment charges ($95.5M), and negative revenue growth (-2.83% YoY)"]
Competitors & peers
- Optum Insight
- IBM Watson Health
- Infor
- McKesson
- Salesforce Health Cloud
- Epic Systems
Fundamentals: Finnhub, as of 2026-07-13. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-10.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.