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Companies / Technology / Health Catalyst, Inc.
HCAT

Health Catalyst, Inc.

TechnologyComputer Services
Ticker HCATSOUTH JORDAN, UTFiscal year ends DecemberBook value per share $1.38Diluted shares 73.3M

Health Catalyst, Inc. (NASDAQ: HCAT) is a leading provider of data and analytics technology and services to healthcare organizations. The company operates through a comprehensive solution comprising its cloud-based Ignite Data and Analytics platform, software analytics applications, and professional services… From the company’s description.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$311.14M
+1.5% year over year
Last 12 mo $292.25M
-51.70%
−28.9 percentage points
Last 12 mo -84.36%
$-177.97M
−156.1% year over year
Last 12 mo $-264.82M
-27.67%
−8.6 percentage points
Last 12 mo -262.64%
Cash & financing
$0.73M
−95.0% year over year
Last 12 mo $28.23M
$-20.02M
−1403.9% year over year
Last 12 mo $7.92M
0.62
Was 1.05× a year earlier
Last 12 mo 1.52
69.9M
+16.1% year over year
Last 12 mo 73.3M

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) is a leading provider of data and analytics technology and services to healthcare organizations. The company operates through a comprehensive solution comprising its cloud-based Ignite Data and Analytics platform, software analytics applications, and professional services expertise. Health Catalyst serves primarily healthcare providers including academic medical centers, integrated delivery networks, community hospitals, large physician practices, accountable care organizations, health information exchanges, health insurers, and other risk-bearing entities. As of December 31, 2025, the company served 162 Platform Clients and over 1,000 App Clients.

The Ignite platform is a healthcare-specific, open, flexible, and scalable ecosystem designed to integrate data from disparate software systems and enable analytics across clinical, financial, and operational objectives. The company's applications portfolio spans five focus areas: Clinical Improvement, Revenue and Cost Improvement, Ambulatory Operations, Measures and Registries, and Data and Analytics. Notable applications include Patient Safety Monitor, Twistle for patient engagement, Carevive for oncology care management, Lumeon for care orchestration, VitalCDM for revenue improvement, PowerCosting for activity-based costing, and MeasureAble for quality and regulatory measures. Health Catalyst has generated over 2,000 documented, client-verified improvements across clinical, financial, and operational domains.

The company employs more than 1,200 team members, including over 950 analytics experts and domain experts. Health Catalyst operates through a subscription-based contract model providing recurring revenue visibility. The company has built a distinctive culture centered on team member engagement, operating principles of improvement, accountability, respect, and transparency, and cultural attributes emphasizing continuous learning, commitment, humility, and excellence. Health Catalyst has received numerous industry recognitions including KLAS Overall Customer Satisfaction Scores and 132 "best place to work" designations. The company maintains an international presence in Singapore, the United Kingdom, and select other countries while pursuing opportunistic expansion into adjacent markets including life sciences organizations and health insurance providers. More information is available at www.healthcatalyst.com.

Company details
Sector
Technology
Industry
Computer Services
Headquarters
SOUTH JORDAN, UT
Fiscal year end
December
CIK
1636422
SIC
7370

Financial performance, year by year

Fiscal 2019–2025 · USD
$-322.41M$-149.63M$23.16M$195.95M$368.73M2019202020212022202320242025Last 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
15.7%
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
0.00%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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