Health Catalyst (HCAT) came out with quarterly earnings of $0.05 per share, beating the Zacks Consensus Estimate of $0.03 per share. This compares to earnings of $0.05 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 66.67%. A quarter ago, it was expected that this provider of data analytics for the health care industry would post a loss of $0.01 per share when it actually produced earnings of $0.02, delivering a surprise of 30 ...

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, 2024 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 charter ...

[Q1 2024 Financial and Operational Highlights](index=1&type=section&id=Q1%202024%20Financial%20and%20Operational%20Highlights) Health Catalyst reported strong Q1 2024 financial results, exceeding guidance for revenue and Adjusted EBITDA, and reaffirmed full-year 2024 outlook - CEO Dan Burton highlighted the strong financial performance in Q1 2024, beating guidance for both **revenue** and **Adjusted EBITDA**, and reaffirmed the full-year 2024 outlook[3](index=3&type=chunk) Q1 2024 Key Financial Metrics (vs. Q1 2023) | Metric | Q1 2024 | Q1 2023 | YoY Change | | :--- | :--- | :--- | :--- | | **GAAP Measures** | | | | | Total Revenue | $74.7M | $73.9M | 1% | | Gross Profit | $29.3M | $28.2M | 4% | | Gross Margin | 39% | 38% | +1 ppt | | Net Loss | $(20.6)M | $(33.2)M | 38% improvement | | **Non-GAAP Measures** | | | | | Adjusted Gross Profit | $38.3M | $38.4M | 0% | | Adjusted Gross Margin | 51% | 52% | -1 ppt | | Adjusted EBITDA | $3.4M | $4.2M | (19)% | [Financial Outlook](index=2&type=section&id=Financial%20Outlook) The company projects Q2 2024 revenue between $73.5M and $76.5M, with full-year revenue expected to range from $304.0M to $312.0M Q2 2024 Financial Guidance | Metric | Guidance Range | | :--- | :--- | | Total Revenue | $73.5M - $76.5M | | Adjusted EBITDA | $5.0M - $7.0M | Full Year 2024 Financial Guidance | Metric | Guidance Range | | :--- | :--- | | Total Revenue | $304.0M - $312.0M | | Adjusted EBITDA | $24.0M - $26.0M | [Condensed Consolidated Financial Statements](index=4&type=section&id=Condensed%20Consolidated%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements for Q1 2024, including Balance Sheets, Statements of Operations, and Cash Flows [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets were $695.1 million as of March 31, 2024, with cash and cash equivalents significantly increasing to $201.4 million Balance Sheet Highlights (in thousands) | Account | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | Cash and cash equivalents | $201,370 | $106,276 | | Short-term investments | $126,415 | $211,452 | | Total current assets | $397,136 | $393,397 | | Total assets | $695,112 | $701,814 | | Total current liabilities | $92,208 | $89,034 | | Total liabilities | $337,902 | $334,895 | | Total stockholders' equity | $357,210 | $366,919 | [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q1 2024 total revenue increased 1% to $74.7 million, with net loss significantly reduced to $20.6 million due to lower operating expenses Q1 2024 Statement of Operations (in thousands, except per share data) | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Technology Revenue | $46,966 | $47,186 | | Professional Services Revenue | $27,757 | $26,682 | | **Total Revenue** | **$74,723** | **$73,868** | | Loss from operations | $(22,812) | $(34,914) | | **Net loss** | **$(20,587)** | **$(33,190)** | | Net loss per share | $(0.35) | $(0.60) | - General and administrative expenses decreased significantly from **$23.8 million** in Q1 2023 to **$14.6 million** in Q1 2024, largely due to **$11.7 million** in litigation costs in Q1 2023 that did not recur[15](index=15&type=chunk)[18](index=18&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) The company generated $10.3 million in cash from operating activities in Q1 2024, with cash and cash equivalents increasing to $201.4 million Cash Flow Summary (in thousands) | Cash Flow Activity | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | $10,266 | $(5,580) | | Net cash provided by investing activities | $83,984 | $22,649 | | Net cash provided by financing activities | $863 | $93 | | **Net increase in cash and cash equivalents** | **$95,094** | **$17,167** | | **Cash and cash equivalents at end of period** | **$201,370** | **$133,479** | [Reconciliation of GAAP to Non-GAAP Financial Measures](index=8&type=section&id=Reconciliation%20of%20GAAP%20to%20Non-GAAP%20Financial%20Measures) This section reconciles GAAP to non-GAAP financial measures, including Adjusted Gross Profit, Adjusted EBITDA, and Adjusted Net Income, for performance evaluation - The company uses non-GAAP measures to supplement its GAAP financial information, believing they provide consistency and comparability with past performance by excluding certain non-cash and non-recurring expenses[22](index=22&type=chunk)[23](index=23&type=chunk) [Adjusted Gross Profit and Adjusted Gross Margin](index=8&type=section&id=Adjusted%20Gross%20Profit%20and%20Adjusted%20Gross%20Margin) Q1 2024 Adjusted Gross Profit was $38.3 million, with Adjusted Gross Margin slightly decreasing to 51% year-over-year Reconciliation of Gross Profit to Adjusted Gross Profit (in thousands) | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Gross profit (GAAP) | $29,321 | $28,158 | | Add: Depreciation and amortization | $6,885 | $7,406 | | Add: Stock-based compensation | $1,697 | $2,190 | | Add: Acquisition-related costs, net | $156 | $172 | | Add: Restructuring costs | $260 | $446 | | **Adjusted Gross Profit (Non-GAAP)** | **$38,319** | **$38,372** | [Adjusted EBITDA](index=10&type=section&id=Adjusted%20EBITDA) Adjusted EBITDA for Q1 2024 was $3.4 million, a decrease from $4.2 million in Q1 2023, after adjusting for various non-recurring costs Reconciliation of Net Loss to Adjusted EBITDA (in thousands) | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net loss (GAAP) | $(20,587) | $(33,190) | | Add: Interest and other (income) expense, net | $(2,338) | $(1,793) | | Add: Income tax provision | $113 | $69 | | Add: Depreciation and amortization | $10,525 | $10,994 | | Add: Stock-based compensation | $10,838 | $13,884 | | Add: Acquisition-related costs, net | $813 | $481 | | Add: Litigation costs | — | $11,664 | | Add: Restructuring costs | $1,813 | $2,055 | | Add: Non-recurring lease-related charges | $2,200 | — | | **Adjusted EBITDA (Non-GAAP)** | **$3,377** | **$4,164** | [Adjusted Net Income and Adjusted Net Income Per Share](index=11&type=section&id=Adjusted%20Net%20Income%20and%20Adjusted%20Net%20Income%20Per%20Share) Q1 2024 Adjusted Net Income was $2.7 million, with Adjusted Net Income per diluted share remaining constant at $0.05 year-over-year Reconciliation of Net Loss to Adjusted Net Income (in thousands) | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net loss (GAAP) | $(20,587) | $(33,190) | | Add: Stock-based compensation | $10,838 | $13,884 | | Add: Amortization of acquired intangibles | $7,251 | $7,780 | | Add: Restructuring costs | $1,813 | $2,055 | | Add: Acquisition-related costs, net | $813 | $481 | | Add: Litigation costs | — | $11,664 | | Add: Non-recurring lease-related charges | $2,200 | — | | Add: Non-cash interest expense | $379 | $377 | | **Adjusted Net Income (Non-GAAP)** | **$2,707** | **$3,051** | Adjusted Net Income Per Share | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Adjusted Net Income per share, basic | $0.05 | $0.05 | | Adjusted Net Income per share, diluted | $0.05 | $0.05 |

Wall Street analysts expect Health Catalyst (HCAT) to post quarterly earnings of $0.03 per share in its upcoming report, which indicates a year-over-year decline of 40%. Revenues are expected to be $74.81 million, up 1.3% from the year-ago quarter.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.Prior to a company's earnings announcement, it is crucial ...

Client Engagement and Market Position - Health Catalyst has generated over 1,600 documented, client-verified improvements across clinical, financial, and operational domains, enabling substantial clinical improvements, financial savings, or operational efficiencies[36]. - Client engagement has increased as measurable improvements are delivered, leading to a broader engagement and referrals for new business[37]. - As of December 31, 2023, the company served 109 DOS Subscription Clients and over 525 other clients, primarily in the healthcare sector[38]. - The company achieved Dollar-based Retention Rates for DOS Subscription Clients of 100%, 100%, and 112% for the years ended December 31, 2023, 2022, and 2021, respectively[47]. - The company estimates its total core addressable market to include more than 1,200 healthcare organizations, indicating substantial growth opportunities[47]. - A significant portion of the company's revenue is expected to derive from the renewal of existing client contracts and sales of additional technology and services[141]. Product and Service Offerings - Health Catalyst's solution includes a cloud-based data and analytics platform, software applications, and professional services expertise tailored for healthcare organizations[18]. - The Data Operating System (DOS) platform has generated over 1,600 documented, client-verified improvements across clinical, financial, and operational domains[40]. - The company plans to continue investing in product development, particularly at the analytics applications layer of its technology stack[47]. - The company has developed an activity-based costing software application, PowerCosting, which enables CFOs and analysts to understand the true cost of clinical processes and patient outcomes[58]. - The Patient Safety Monitor application uses machine learning to predict patient safety risks, allowing clinicians to intervene proactively[58]. - The company provides a suite of population health analytics modules, including Pop Analyzer and Stratify, to support value-based care arrangements[58]. - The company’s revenue improvement solution, VitalCDM, aims to enhance operational efficiency and minimize compliance risk for hospital billing departments[62]. Team Member Engagement and Culture - The company maintains a high level of team member engagement, ranking in the 94th to 99th percentile as measured by Gallup[21]. - The company employs over 1,300 team members, with team member engagement scores consistently ranking in the 94th to 99th percentile[66][69]. - The company has received 87 recognitions as a "best place to work" from various organizations, indicating strong employee satisfaction and loyalty[69]. - The company emphasizes team member engagement as a top priority, which is believed to drive client trust and financial performance[99]. - Health Catalyst has implemented various human capital management objectives, including attracting and retaining a diverse workforce and providing opportunities for career growth[100]. - The company conducts regular team member surveys and monthly meetings to assess job satisfaction and improve retention[102]. - Health Catalyst offers market-competitive compensation, short-term bonuses, long-term equity incentives, and comprehensive benefits to its team members[103]. Financial Performance and Risks - Future financial performance is subject to various risks, including competition, technological changes, and macroeconomic challenges such as inflation and interest rates[15]. - The company’s operating model benefits from the recurring nature of its revenue, providing high revenue visibility and potential for operating leverage[41]. - The company faces intense competition in the healthcare solutions market, including from well-financed entities like Optum Analytics and IBM, which may hinder its market share[114]. - Macroeconomic challenges, including high inflation and interest rates, have adversely affected demand for the company's solutions and may lead to client bankruptcies[120]. - The company’s results of operations have historically fluctuated and may continue to do so, influenced by various external factors including macroeconomic challenges[144]. - The company recognizes technology and professional services revenue ratably over contract terms, which may delay the reflection of downturns in business in financial results[161]. - The company faces potential risks from medical malpractice claims, which could result in damage awards exceeding insurance coverage limits, adversely affecting financial condition[154]. Compliance and Regulatory Environment - The company is subject to various federal and state regulations, including those related to the corporate practice of medicine and fee-splitting laws[84]. - Compliance with evolving federal and state certification requirements is critical for maintaining the company's patient safety organization certification[85]. - The FDA regulates certain medical software, and Health Catalyst believes its marketed products are not currently classified as medical devices under FDA regulations[90]. - The company is subject to foreign regulations in countries where it operates, including the UK, India, Singapore, UAE, and Australia[95]. Technology and Cybersecurity - The DOS platform is cloud-based and primarily provided through Microsoft Azure, enhancing scalability and security[49]. - Cybersecurity risks are heightened due to reliance on internet technology and remote work, which may expose the company to potential data breaches and operational disruptions[182]. - The company’s general liability insurance may not cover all potential claims related to security breaches, exposing it to unexpected costs[186]. - The company relies on third-party vendors for Internet and telecommunications services, which increases vulnerability to service interruptions and delays[197]. - The company does not maintain redundant systems, risking extended periods of system unavailability in catastrophic events[198]. Acquisitions and Growth Strategy - The company has a track record of identifying and integrating new capabilities through acquisitions, including Medicity and Able Health[47]. - The company has acquired several businesses in recent years, including ERS in 2023, but may face challenges in integrating these acquisitions and realizing anticipated benefits[165]. - The anticipated benefits of acquisitions may not materialize, leading to potential impairment charges that could adversely affect results of operations[168]. Future Outlook and Strategic Initiatives - The company plans to hold its annual Healthcare Analytics Summit in February 2024, showcasing data-informed improvements in healthcare[70]. - The company must continue to invest in research and development to enhance existing services and introduce new applications to remain competitive[138]. - Future revenue growth may not match historical rates, with potential declines due to slower client adoption of solutions and increased competition in adjacent markets[176]. - The company faces significant uncertainty regarding the impact of the Final Rule on interoperability and information blocking, which could affect data access and market competition[188].

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, 2023 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 2023 Earnings Conference Call August 8, 2023 5:00 PM ET Company Participants Adam Brown - SVP Finance & IR Dan Burton - CEO Bryan Hunt - CFO Conference Call Participants Samir Patel - Evercore ISI Vishal Patel - Piper Sandler Daniel Grosslight - Citi David Larsen - BTIG Jack Wallace - Guggenheim Securities Scott Schoenhaus - Keybanc Capital John Pinney - Canaccord Genuity Stan Berenshteyn - Wells Fargo Jeff Garro - Stephens Sarah James - Cantor Fitzgerald Thomas Kellih ...

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 June 30, 2023 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 charter) ...

Health Catalyst, Inc. (NASDAQ:HCAT) Q1 2023 Earnings Conference Call May 9, 2023 5:00 PM ET Company Participants Adam Brown - Senior Vice President, Finance and Investor Relations Dan Burton - Chief Executive Officer Bryan Hunt - Chief Financial Officer Conference Call Participants Anne Samuel - JPMorgan Jared Haase - William Blair Jessica Tassan - Piper Sandler Elizabeth Anderson - Evercore ISI Anna Kruszenski - SVB Securities Richard Close - Canaccord Genuity Daniel Grosslight - Citi John Ransom - Raymond ...

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, 2023 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 charter ...