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Companies / Health Care / Health Catalyst, Inc.
HCAT

Health Catalyst, Inc.

Health CareComputer Services
Ticker HCATSOUTH JORDAN, UTFiscal year ends DecemberBook value per share $1.97Diluted shares 74.0M

Health Catalyst, Inc. (Nasdaq: HCAT) provides data and analytics technology and services to healthcare organizations, primarily healthcare providers. Its solution combines the Ignite cloud-based platform, software analytics applications and expertise to help clients integrate and manage data, derive insights, and… From the company’s description.

Over the twelve months to Sep 30, 2026, Health Catalyst, Inc. reported revenue of $272.20M, down 13.9% from a year earlier, and a net loss of $202.09M. Its operating margin was −65.7%, and operations generated $26.82M in cash. In fiscal 2025, it reported revenue of $311.14M, up 1.5% from fiscal 2024, and a net loss of $177.97M.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-09-30
Sales & profitability
$311.14MFY2025
+1.5% year over year
Last 12 mo $272.20M
-51.70%FY2025
−28.9 percentage points
Last 12 mo -65.72%
$-177.97MFY2025
−156.1% year over year
Last 12 mo $-202.09M
-27.75%FY2025
−8.7 percentage points
Cash & financing
$0.73MFY2025
−95.0% year over year
Last 12 mo $26.82M
$-20.02MFY2025
−1403.9% year over year
Last 12 mo $6.98M
0.62FY2025
Was 1.05× a year earlier
Last 12 mo 0.00
69.9MFY2025
+16.1% year over year
Last 12 mo 74.0M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Health Catalyst, Inc. does

In the company’s own words

Health Catalyst, Inc. (Nasdaq: HCAT) provides data and analytics technology and services to healthcare organizations, primarily healthcare providers. Its solution combines the Ignite cloud-based platform, software analytics applications and expertise to help clients integrate and manage data, derive insights, and pursue clinical, financial and operational improvements. The platform brings together data from disparate systems, while applications address clinical improvement, revenue and cost improvement, ambulatory operations, measures and registries, and data and analytics. Services include implementation, data and analytics support, domain expertise, education, and technology-enabled managed services. Customers include academic medical centers, health systems, community hospitals, physician practices, accountable care organizations, health information exchanges, insurers, life sciences organizations and other risk-bearing entities. The company serves clients through subscription-based contracts; at year-end 2025, it had 162 Platform Clients and more than 1,000 App Clients. Its application portfolio includes Patient Safety Monitor, Twistle, Carevive, VitalCDM, PowerLabor, MeasureAble, CRStar, Ninja Universe and Healthcare.AI. Health Catalyst employed more than 1,200 people at December 31, 2025. Its website is https://www.healthcatalyst.com/.

Company details
Sector
Health Care
Industry (SIC)
Computer Services
Headquarters
SOUTH JORDAN, UT
Fiscal year end
December
CIK
1636422
SIC
7370

Financial performance, year by year

Fiscal 2019–2025 · USD
$-253.41M$-99.45M$54.52M$208.49M$362.46M2019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Health Catalyst, Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

74
funds hold it
0 of 35
superinvestors hold it
$20.74M
held by funds, at market
15.5%
of shares held by funds

Largest fund holders · Health Catalyst, Inc.’s weight in each

Impax Small Cap Fund
PXSCX · IMPAX FUNDS SERIES TRUST I
0.84%of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
VANGUARD EXTENDED MARKET INDEX FUND
VXF · VANGUARD INDEX FUNDS
0.00%of fund net assets
Fidelity Small Cap Index Fund
FSSNX · Fidelity Salem Street Trust
—of fund net assets
Fidelity Enhanced Small Cap Core ETF
FESM · Fidelity Covington Trust
0.01%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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  • “How do Health Catalyst, Inc. and its peers compare on margins and cash generation over ten years?”
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