UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________ Form 10-K _______________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Table of Contents For the transition period from _____ to _____ Commission File Number: 001-38993 HEALTH CATALYST, INC. (Exact name of registrant as specified in its ...

Financial Data and Key Metrics Changes - Total revenue for Q3 2020 was $47.2 million, with $46.3 million excluding the one-month contribution from the Vitalware acquisition, representing an 18% year-over-year increase [9][45] - Total technology revenue for Q3 2020 was $28 million, or $27.2 million excluding Vitalware, reflecting a 28% growth compared to the same period last year [10][46] - Adjusted gross margin for Q3 2020 was 50.7%, an increase of approximately 170 basis points from Q2 2020, but a decrease of about 300 basis points year-over-year [11][48] - Adjusted EBITDA for Q3 2020 was a loss of $6.4 million, an improvement from a loss of $8.4 million in Q3 2019 [11][52] - Cash and cash equivalents at the end of Q3 2020 were $275 million, up from $228 million at the end of 2019 [54] Business Line Data and Key Metrics Changes - Professional services revenue for Q3 2020 was $19.2 million, representing a 5% growth year-over-year, driven by services provided to new customers and expanded services with existing customers [47] - Adjusted gross margin for professional services was 25.1%, a decrease of approximately 1150 basis points year-over-year [50] Market Data and Key Metrics Changes - The company noted a 40% increase in the usage of foundational analytics applications since the onset of the COVID-19 pandemic [21] - The recurring revenue model accounts for over 90% of total revenue, which has helped mitigate the near-term impact of COVID-19 on top-line performance [20] Company Strategy and Development Direction - The company is focused on leveraging the COVID-19 pandemic as a tailwind for the adoption of data and analytics in healthcare [26][110] - Recent acquisitions, including Vitalware, Healthfinch, and Able Health, are expected to enhance the company's product offerings and market reach [28][99] - The introduction of a new President role aims to oversee growth functions and drive international expansion [30][31] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the healthcare provider ecosystem's preparedness to respond to ongoing pandemic challenges [18] - The company anticipates a slower revenue growth rate of approximately 20% in 2021 due to the impact of COVID-19 on 2020 bookings [60][61] - Management emphasized the importance of data and analytics in the current environment, which is expected to drive future growth [84][110] Other Important Information - The company announced leadership promotions, including Patrick Nelli to President and Bryan Hunt to Chief Financial Officer, effective January 1, 2021 [30][36] - The company plans to continue investing in M&A opportunities, leveraging its strong cash position [97] Q&A Session Summary Question: Thoughts on 2021 new DOS adds and pipeline performance - Management noted that the second half of 2020 pipeline performance is similar to pre-COVID levels, but the impact of COVID-19 on new customer additions is still a concern [68][71] Question: International expansion opportunities - The company signed its first Middle East customer and is cautiously optimistic about future international growth, though it may take time to see material impacts [73][74] Question: Margins and revenue growth dynamics - Management expects technology revenue to grow faster than professional services revenue, which will positively impact overall gross margins [76][77] Question: Contribution from recent acquisitions - Vitalware contributed approximately $900,000 in Q3 and is expected to contribute around $4 million in Q4, with a projected $20 million impact in 2021 [78][99] Question: Professional services revenue outlook - Management indicated that professional services dollar-based net retention is expected to be lower than historical levels due to COVID-19, but technology revenue retention remains strong [104][105] Question: Role in vaccine distribution - The company anticipates providing analytics support for vaccine distribution, leveraging existing infrastructure [89]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________ FORM 10-Q ________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number: 001-38993 HEALTH CATALYST, INC. (Exact name of registrant as specified in its cha ...

Health Catalyst, Inc. (NASDAQ:HCAT) Q2 2020 Earnings Conference Call August 11, 2020 5:00 PM ET Company Participants Adam Brown - SVP, IRn Dan Burton - CEO Patrick Nelli - CFO Conference Call Participants Robert Jones - Goldman Sachs Anne Samuel - JPMorgan Ryan Daniels - William Blair Sean Wieland - Piper Sandler Sandy Draper - Truist Securities Elizabeth Anderson - Evercore Stephanie Davis - SVB Leerink Richard Close - Canaccord Genuity David Grossman - Stifle Daniel Grosslight - Citi David Larson - Verity ...

[Part I. Financial Information](index=5&type=section&id=Part%20I.%20Financial%20Information) [Item 1. Financial Statements](index=5&type=section&id=Item%201.%20Financial%20Statements) The unaudited condensed consolidated financial statements show total assets increased to **$466.4 million** by June 30, 2020, with a **23% revenue increase** to **$88.4 million** but a **net loss of $44.7 million** for the six months Condensed Consolidated Balance Sheets Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2020 (unaudited) | December 31, 2019 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $104,185 | $18,032 | | Short-term investments | $248,932 | $210,245 | | Total current assets | $396,953 | $264,239 | | Goodwill | $18,419 | $3,694 | | **Total assets** | **$466,396** | **$302,360** | | **Liabilities & Stockholders' Equity** | | | | Total current liabilities | $50,185 | $48,217 | | Long-term debt | $163,480 | $48,200 | | **Total liabilities** | **$232,434** | **$101,716** | | **Total stockholders' equity** | **$233,962** | **$200,644** | | **Total liabilities and stockholders' equity** | **$466,396** | **$302,360** | Condensed Consolidated Statements of Operations Statement of Operations Summary (in thousands) | Metric | Three Months Ended June 30, 2020 | Three Months Ended June 30, 2019 | Six Months Ended June 30, 2020 | Six Months Ended June 30, 2019 | | :--- | :--- | :--- | :--- | :--- | | **Total revenue** | **$43,259** | **$36,804** | **$88,375** | **$72,017** | | Technology Revenue | $25,487 | $20,085 | $50,186 | $40,233 | | Professional Services Revenue | $17,772 | $16,719 | $38,189 | $31,784 | | Loss from operations | $(15,640) | $(9,363) | $(33,745) | $(20,457) | | Loss on extinguishment of debt | $(8,514) | $— | $(8,514) | $(1,670) | | **Net loss** | **$(27,183)** | **$(10,694)** | **$(44,673)** | **$(24,414)** | | Net loss per share, basic and diluted | $(0.71) | $(21.98) | $(1.19) | $(38.29) | Condensed Consolidated Statements of Cash Flows Cash Flow Summary for the Six Months Ended June 30 (in thousands) | Cash Flow Activity | 2020 | 2019 | | :--- | :--- | :--- | | Net cash used in operating activities | $(17,520) | $(13,641) | | Net cash used in investing activities | $(56,684) | $(30,214) | | Net cash provided by financing activities | $160,366 | $36,243 | | **Net increase (decrease) in cash** | **$86,153** | **$(7,612)** | - Financing activities in H1 2020 were primarily driven by **$222.5 million** in net proceeds from convertible senior notes, offset by a **$57.0 million** repayment of credit facilities and a **$21.7 million** purchase of capped calls[36](index=36&type=chunk)[37](index=37&type=chunk) Notes to the Condensed Consolidated Financial Statements The notes detail significant accounting policies, recent business combinations, and financial instrument specifics, including the **Able Health acquisition**, **convertible senior notes issuance**, and subsequent acquisitions of **Healthfinch** and **Vitalware** - On February 21, 2020, the company acquired Able Health, Inc. for total consideration of **$21.5 million**, comprising **$15.2 million** in cash, **$3.3 million** in common stock, and **$3.0 million** in contingent consideration, resulting in **$14.7 million** of goodwill[99](index=99&type=chunk)[103](index=103&type=chunk) - In April 2020, the company issued **$230.0 million** of 2.50% Convertible Senior Notes due 2025, receiving net proceeds of **$222.5 million**, and purchased capped calls for **$21.7 million** to reduce potential dilution[117](index=117&type=chunk)[126](index=126&type=chunk) - Proceeds from the new notes were used to prepay the OrbiMed term loan in full, resulting in a loss on debt extinguishment of **$8.5 million** in Q2 2020[132](index=132&type=chunk) - Subsequent to quarter-end, the company acquired Healthfinch, Inc. on July 31, 2020, for approximately **$45 million** and entered an agreement on August 11, 2020, to acquire Vitalware LLC for approximately **$120 million**[180](index=180&type=chunk)[181](index=181&type=chunk)[183](index=183&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=45&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses a **23% revenue increase** to **$88.4 million** for H1 2020, the mixed impact of COVID-19, and strategic financial actions including issuing **$230 million** in convertible senior notes COVID-19 Impact The COVID-19 pandemic is expected to have a muted impact on total revenue due to the recurring revenue model, but led to temporary discounts and fewer new customer additions - The company's highly recurring revenue model (over **90%**) is expected to mute the overall impact of COVID-19 on 2020 total revenue[190](index=190&type=chunk) - To support customers, the company provided temporary discounts on Professional Services, which lowered revenue growth and gross margin for that segment in Q2 2020[191](index=191&type=chunk) - Net new DOS subscription customer additions in H1 2020 were lower than anticipated due to the pandemic's impact on health systems[192](index=192&type=chunk) Results of Operations Revenue Comparison (in thousands) | Period | 2020 | 2019 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | **Three Months Ended June 30** | | | | | | Total Revenue | $43,259 | $36,804 | $6,455 | 18% | | *Technology* | *$25,487* | *$20,085* | *$5,402* | *27%* | | *Professional Services* | *$17,772* | *$16,719* | *$1,053* | *6%* | | **Six Months Ended June 30** | | | | | | Total Revenue | $88,375 | $72,017 | $16,358 | 23% | | *Technology* | *$50,186* | *$40,233* | *$9,953* | *25%* | | *Professional Services* | *$38,189* | *$31,784* | *$6,405* | *20%* | Operating Expenses Comparison for Six Months Ended June 30 (in thousands) | Expense Category | 2020 | 2019 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Sales and marketing | $25,989 | $20,858 | $5,131 | 25% | | Research and development | $25,149 | $19,732 | $5,417 | 27% | | General and administrative | $17,814 | $12,320 | $5,494 | 45% | | **Total operating expenses** | **$74,923** | **$57,438** | **$17,485** | **30%** | - The increase in operating expenses for H1 2020 was primarily driven by higher stock-based compensation (**$14.7 million** increase YoY), acquisition-related costs (**$1.3 million**), and increased salary costs from higher headcount[260](index=260&type=chunk)[261](index=261&type=chunk)[263](index=263&type=chunk)[265](index=265&type=chunk) Liquidity and Capital Resources The company strengthened its liquidity with **$353.1 million** in cash and investments as of June 30, 2020, primarily from **$222.5 million** in net proceeds from convertible senior notes used to prepay existing debt - As of June 30, 2020, the company had **$353.1 million** in cash, cash equivalents, and short-term investments[276](index=276&type=chunk) - In April 2020, the company raised **$222.5 million** in net proceeds from a private offering of **$230.0 million** in 2.50% Convertible Senior Notes due 2025[278](index=278&type=chunk) - The company used **$57.0 million** of the note proceeds to prepay all outstanding debt under its Credit Agreement with OrbiMed and terminated the agreement[285](index=285&type=chunk) Contractual Obligations as of June 30, 2020 (in thousands) | Obligation | Total | Less than 1 Year | 1 to 3 Years | 3 to 5 Years | More than 5 Years | | :--- | :--- | :--- | :--- | :--- | :--- | | Convertible senior notes | $258,750 | $5,750 | $11,500 | $241,500 | $— | | Operating lease obligations | $37,611 | $3,392 | $6,845 | $6,714 | $20,660 | | Acquisition-related consideration | $3,250 | $3,250 | $— | $— | $— | | **Total** | **$299,611** | **$12,392** | **$18,345** | **$248,214** | **$20,660** | [Item 3. Quantitative and Qualitative Disclosures about Market Risk](index=71&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company's primary market risk is interest rate fluctuations on its **$353.1 million** in cash and investments, with foreign currency and inflation risks currently deemed immaterial - The company's main market risk is interest rate risk on its **$353.1 million** portfolio of cash, cash equivalents, and short-term investments[314](index=314&type=chunk) - Foreign currency exchange risk is currently limited due to the small size of international operations, with most sales contracts denominated in U.S. dollars[318](index=318&type=chunk)[319](index=319&type=chunk) - Inflation is not believed to have had a material effect on the business[320](index=320&type=chunk) [Item 4. Controls and Procedures](index=72&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2020, with no material changes to internal control over financial reporting during the quarter - As of June 30, 2020, the CEO and CFO concluded that the company's disclosure controls and procedures were effective[322](index=322&type=chunk) - No material changes in internal control over financial reporting occurred during the quarter ended June 30, 2020[323](index=323&type=chunk) [Part II. Other Information](index=73&type=section&id=Part%20II.%20Other%20Information) [Item 1. Legal Proceedings](index=73&type=section&id=Item%201.%20Legal%20Proceedings) The company is subject to legal proceedings in the normal course of business but reports no significant outstanding claims as of the reporting date - The company is subject to legal proceedings in the normal course of business, but reports no significant outstanding claims[326](index=326&type=chunk) [Item 1A. Risk Factors](index=73&type=section&id=Item%201A.%20Risk%20Factors) The company faces significant risks from intense competition, the COVID-19 pandemic, data security breaches, regulatory compliance (HIPAA, CCPA, GDPR, FDA), and financial challenges including a history of net losses - The company faces intense competition from industry-agnostic analytics companies, EHR vendors like Epic and Cerner, and large, well-resourced entities such as Optum and IBM[329](index=329&type=chunk)[330](index=330&type=chunk) - The COVID-19 pandemic poses a significant risk, potentially decreasing healthcare spending, lengthening sales cycles, and impacting customer renewals and collections[335](index=335&type=chunk) - The business is highly dependent on customer satisfaction and contract renewals; failure to renew or renewing at lower fee levels could materially harm financial results[339](index=339&type=chunk) - Security breaches or unauthorized access to customer data, including Protected Health Information (PHI), could lead to significant liabilities, reputational damage, and loss of customers[344](index=344&type=chunk) - The company is subject to extensive and evolving healthcare regulations, including HIPAA, anti-kickback laws, and potential FDA regulation of its software as a medical device, which could create significant compliance costs and liabilities[441](index=441&type=chunk)[442](index=442&type=chunk)[443](index=443&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=111&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) In April 2020, the company raised **$222.5 million** in net proceeds from convertible senior notes, used for capped call transactions, debt repayment, and general corporate purposes - In April 2020, the company raised net proceeds of **$222.5 million** from a private placement of **$230.0 million** in convertible senior notes[497](index=497&type=chunk)[498](index=498&type=chunk) - The company used **$57.0 million** of the proceeds to prepay its credit agreement with OrbiMed and **$21.6 million** for capped call transactions[498](index=498&type=chunk) [Item 6. Exhibits](index=112&type=section&id=Item%206.%20Exhibits) This section lists key exhibits, including the Indenture for the 2.50% Convertible Senior Notes due 2025 and CEO/CFO certifications - Key exhibits filed include the Indenture and form of Global Note for the 2.50% Convertible Senior Notes due 2025[501](index=501&type=chunk) - Certifications from the CEO and CFO pursuant to Sections 302 and 906 of the Sarbanes-Oxley Act of 2002 are included as exhibits[501](index=501&type=chunk)

Health Catalyst, Inc. (NASDAQ:HCAT) Q1 2020 Earnings Conference Call May 12, 2020 8:30 AM ET Company Participants Adam Brown - SVP, IR Dan Burton - CEO Patrick Nelli - CFO Conference Call Participants Robert Jones - Goldman Sachs Anne Samuel - JPMorgan Ryan Daniels - William Blair Sean Wieland - Piper Sandler Mike Newshel - Evercore Stephanie Davis - SVB Leerink Sandy Draper - SunTrust Richard Close - Canaccord Genuity Sean Dodge - RBC Capital Markets Operator Ladies and gentlemen, thank you for standing by ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________ FORM 10-Q ________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 Or (Address of principal executive offices, including zip code) (801) 708-6800 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number: 001-38993 ...

Financial Data and Key Metrics Changes - Total revenue for Q4 2019 was $43.5 million, representing a 21% growth compared to Q4 2018 [7][8] - Full year 2019 total revenue was $154.9 million, indicating a 38% annual growth [9] - Adjusted gross margin for Q4 2019 was 51.2%, up from 48.6% in Q4 2018 [8] - Full year 2019 adjusted gross margin was 52.2%, an increase of approximately 430 basis points compared to 2018 [9] - Adjusted EBITDA for Q4 2019 was a loss of $6.5 million, improving from a loss of $9.4 million in Q4 2018 [8][33] - Full year 2019 adjusted EBITDA was a loss of $27.4 million, an improvement from a loss of $38.1 million in 2018 [9][33] Business Line Data and Key Metrics Changes - Technology revenue for Q4 2019 was $22.6 million, a 20% increase year-over-year [26] - Professional services revenue for Q4 2019 was $20.9 million, a 21% increase year-over-year [26] - The Medicity business was noted as a headwind on technology revenue growth in Q4 2019 [27] Market Data and Key Metrics Changes - The company ended 2019 with 65 DOS subscription customers, having added 15 net new customers during the year [16][18] - Dollar-based retention rate for 2019 was 109%, up from 107% in 2018 [18] Company Strategy and Development Direction - The company aims to enable massive, measurable improvements for customers while maintaining high satisfaction and engagement [11] - There is a focus on digital transformation within healthcare, with a growing demand for outsourced technology-enabled services [19][20] - The acquisition of Able Health is expected to enhance quality and regulatory measures capabilities [22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's performance and outlook for 2020, with guidance for total revenue between $185 million and $188 million [37] - The company has over 90% visibility to projected 2020 revenue, which is beneficial for forecasting [55] - Management has not seen any impact from the coronavirus on the pipeline or forecast [70] Other Important Information - The company ended Q4 2019 with $228.3 million in cash and short-term investments, compared to $33.2 million at year-end 2018 [35] - Total debt as of December 31, 2019, was $48.2 million, an increase of $28 million over the end of 2018 [35] Q&A Session Summary Question: Composition of new adds in 2019 - The composition of the 15 net new DOS subscription clients was a mix of health systems and some risk-bearing entities [42][43] Question: Cadence of growth for new DOS subscription customers - The company expects a stronger performance in the second half of the year for Medicity cross-sells, with a typical sales cycle of about one year [47][48] Question: Opportunities for tuck-in acquisitions - There are many opportunities for acquisitions in the apps layer, with a robust pipeline of potential companies [49][50] Question: Upsell opportunity to existing customers - The greater than $10 million represents annual recurring revenue, indicating strong potential for similar opportunities in the future [52][53] Question: Impact of coronavirus on contracting decisions - There has been no observed impact on the pipeline or forecast due to the coronavirus [70] Question: Trends in deferred revenues - Deferred revenues can fluctuate due to the timing of new client additions and the nature of contracts [63] Question: Percentage of DOS clients on Azure - Most new clients have been transitioned to Microsoft Azure, with ongoing conversions expected to take 1-2 years [65]

Financial Data and Key Metrics Changes - Total revenue for Q3 2019 was $39.4 million, representing a 20% year-over-year increase [25] - Adjusted gross margin for Q3 2019 was 54%, up from 50% in Q3 2018 [7] - Adjusted EBITDA loss for Q3 2019 was $8.4 million, an improvement from a loss of $11.3 million in Q3 2018 [31] Business Line Data and Key Metrics Changes - Technology revenue was $21.2 million, a 16% increase year-over-year [25] - Professional services revenue was $18.3 million, a 25% increase year-over-year [25] - Adjusted gross margin for technology was 68%, an increase of approximately 190 basis points year-over-year [27] Market Data and Key Metrics Changes - The company reported that over 90% of its revenue is recurring, with greater than 100% dollar-based retention [44] - The healthcare analytics summit hosted over 1,600 professionals, achieving an overall satisfaction rating of greater than 99% [12] Company Strategy and Development Direction - The company is focused on enabling measurable improvements for customers while maintaining high satisfaction [8] - There is a strong emphasis on digital transformation within healthcare, with the company positioning itself as a partner to facilitate this transition [14] - The company plans to continue investing in core markets and new markets, including Life Sciences and international expansion [42] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the robustness of the sales pipeline moving into Q4 2019 and beyond [41] - The acquisition of Medicity is seen as a headwind, but management anticipates cross-sell opportunities to materialize in 2020 [43] - The company does not expect significant impacts from the political environment on its sales efforts [71] Other Important Information - The company appointed two new board members effective January 1, 2020, enhancing its leadership team [21][22] - The company ended Q3 2019 with $241.4 million in cash and short-term investments, compared to $33.2 million at the end of 2018 [34] Q&A Session Summary Question: How to think about headwinds and tailwinds looking into 2020? - Management highlighted investments in core and new markets as tailwinds, while the Medicity acquisition represents a revenue headwind [41][43] Question: How does the start of 2020 look regarding the sales pipeline? - Management feels good about the current pipeline supporting projections for Q4 and the full year 2019 [48] Question: Feedback from this year's summit compared to previous ones? - This year's summit had the highest attendance and provided significant feedback on the need for foundational analytics support [51][52] Question: Update on professional services gross margin and hiring? - Management reported progress in hiring and maintaining a sustainable pace for the professional services team [57] Question: Thoughts on the Google-related news and competition? - Management believes that cloud companies will play a significant role in the healthcare ecosystem, but the company focuses on higher-level healthcare-specific solutions [85]

Revenue Performance - Total revenue for Q3 2019 was $39.423 million, a 20% increase from $32.868 million in Q3 2018[21] - Technology revenue reached $21.160 million, up 16% from $18.283 million year-over-year[21] - Professional services revenue increased by 25% to $18.263 million compared to $14.585 million in the same quarter last year[21] - Total revenue for the three months ended September 30, 2019, was $39.423 million, a 20% increase from $32.87 million in the same period of 2018[169] - Revenue for the Technology segment was $21.16 million for the three months ended September 30, 2019, up from $18.28 million in the same period of 2018, representing a growth of 10.1%[169] - Revenue for the Professional Services segment increased to $18.26 million for the three months ended September 30, 2019, compared to $14.59 million in 2018, reflecting a growth of 25.5%[169] - Recurring technology revenue for the nine months ended September 30, 2019, was $61.393 million, up 67.2% from $36.701 million in 2018[102] Financial Position - Cash and cash equivalents increased to $52.059 million as of September 30, 2019, from $28.431 million at the end of 2018[17] - Total assets as of September 30, 2019, were $319.969 million, significantly up from $110.975 million at the end of 2018[17] - Current liabilities increased to $53.047 million as of September 30, 2019, compared to $41.806 million at the end of 2018[17] - Total stockholders' equity as of September 30, 2019, was $206,553,000, up from $206,553,000 as of June 30, 2019, reflecting stability in equity position[28] - As of September 30, 2019, the company had cash, cash equivalents, and short-term investments totaling $241.4 million[285] Losses and Expenses - The net loss for Q3 2019 was $21.416 million, compared to a net loss of $16.876 million in Q3 2018[21] - The company reported a net loss attributable to common stockholders of $39.586 million for Q3 2019, compared to $17.390 million in Q3 2018[21] - The company reported a net loss before income taxes of $21.40 million for the three months ended September 30, 2019, compared to a net loss of $16.87 million in the same period of 2018[169] - Stock-based compensation expense increased to $13,028,000 for the nine months ended September 30, 2019, compared to $2,887,000 for the same period in 2018, indicating increased investment in employee incentives[35] - Total stock-based compensation expense for the three months ended September 30, 2019, was $9.974 million, compared to $933,000 for the same period in 2018[141] Debt and Financing - The term loan balance as of September 30, 2019, was $50 million, with a remaining capacity of $25 million[112] - The OrbiMed debt financing agreement provided an $80.0 million senior term loan commitment, with $50.0 million available and up to an additional $30.0 million contingent upon achieving minimum technology revenues of $60.0 million[116] - The contractual interest rate for the OrbiMed term loan is the higher of LIBOR plus 7.5% or 10.0%, with monthly principal payments starting in February 2023[117] Shareholder Information - The company had a weighted-average share count of 28.223 million for calculating net loss per share in Q3 2019, compared to 4.686 million in Q3 2018[21] - The total number of common shares outstanding as of September 30, 2019, was 36,472,223, an increase from 4,732,780 shares as of September 30, 2018, indicating significant equity growth[32] - Health Catalyst had 45,427,441 shares of redeemable convertible preferred stock authorized, with 22,713,694 shares issued and outstanding as of December 31, 2018[121] - Upon the closing of the IPO, the redeemable convertible preferred stock was converted into 23,151,481 shares of common stock at an IPO price of $26.00 per share, totaling $602.7 million[124] Acquisitions and Investments - The acquisition of Medicity LLC was completed for consideration valued at $2.3 million in Series E redeemable convertible preferred stock, as part of a $15 million capital raise[96] - Total assets acquired from Medicity amounted to $15.222 million, with total liabilities assumed of $12.970 million, resulting in net assets acquired of $2.252 million[98] - Revenue from the acquired business of Medicity amounted to $12.5 million from June 29, 2018, to December 31, 2018[101] Revenue Recognition and Accounting - Health Catalyst's revenue recognition follows ASC Topic 606, with a focus on technology subscriptions and professional services, ensuring compliance with accounting standards[47] - The company reported a deferred revenue of $7,601,000 for the nine months ended September 30, 2019, compared to $7,415,000 for the same period in 2018, suggesting stable revenue recognition[35] - For the three months ended September 30, 2019, 48% of the revenue recognized was included in deferred revenue at the beginning of the period, compared to 36% in 2018[162] - For the nine months ended September 30, 2019, 18% of the revenue recognized was included in deferred revenue at the beginning of the period, up from 13% in 2018[162]