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 ...

Health Catalyst, Inc. (NASDAQ:HCAT) Q4 2022 Earnings Conference Call February 28, 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 Stephanie Davis – SVB Securities Anne Samuel – JPMorgan Jared Haase – William Blair Jessica Tassan – Piper Sandler Daniel Grosslight – Citi Elizabeth Anderson – Evercore ISI Richard Close – Canaccord Genuity Thomas Kelliher ...

Client Base and Market Opportunities - As of December 31, 2022, the company served 98 clients with a DOS subscription contract and over 425 other clients, indicating a strong client base[34]. - The total core addressable market includes more than 1,200 healthcare organizations, indicating substantial growth opportunities[45]. - The company plans to expand into international markets, leveraging similar challenges faced by healthcare providers outside the United States[45]. - A significant portion of revenue is expected from renewing existing client contracts and selling additional technology and services, making client retention essential for future growth[135]. Product and Service Offerings - The Data Operating System (DOS) platform is a cloud-based, flexible, and scalable platform that integrates data from disparate software systems, enhancing analytics capabilities for clients[35]. - The company’s analytics applications are designed to address common problems faced by clients across Clinical & Quality, Population Health, and Financial & Operational use cases, driving measurable improvements[35]. - The DOS platform allows clients to integrate and organize disparate data sources, enabling insights across clinical, financial, and operational objectives[47]. - Revenue workflow optimization and analytics solution (VitalCDM) enhances hospital billing transparency and operational efficiency, leading to more accurate reimbursements[15]. - Labor management solution (PowerLabor) enables healthcare decision-makers to predict labor needs and optimize staff-to-patient ratios[15]. - Comprehensive charge capture solution (VitalIntegrity) minimizes revenue leakage and compliance issues, improving hospital charge capture processes[15]. - Financial accelerators provide pre-built financial data models that help clients achieve faster time-to-value solutions[15]. Innovation and Development - The company has a strong focus on innovation and continuous improvement to remain competitive and meet client needs[26]. - The DOS platform is cloud-based, enabling quicker product iteration and innovation, which supports scalability[51]. - The company has invested significant resources over the last decade to build a comprehensive set of healthcare-specific products and services[42]. - The company employs over 495 analytics experts and over 70 domain experts to drive meaningful improvements for clients[57]. Employee Engagement and Culture - The company emphasizes team member engagement, achieving a 95th to 99th percentile ranking in engagement as measured by Gallup, which is critical for long-term success[20]. - The company employs over 1,200 team members, with engagement scores consistently ranking in the 95th to 99th percentile[62][65]. - The company has received 76 awards as a "best place to work" and multiple client satisfaction awards from KLAS and others[65]. - The company is committed to diversity and inclusion, with initiatives led by the Chief Diversity & Inclusion Officer and six affinity groups[104]. - The company invests significantly in talent development, offering extensive onboarding and annual continuing education reimbursement[105]. Competitive Landscape - The company operates in a highly competitive industry and faces risks related to macroeconomic challenges, client satisfaction, and technological changes[15]. - The company faces intense competition from industry-agnostic analytics companies and EHR vendors, which may have greater resources and established networks[71][74]. - The company faces intense competition from well-established entities in the healthcare solutions market, which may impact its market share[112]. - The company faces intense competition for skilled employees, which may hinder its ability to attract and retain necessary talent for growth[163]. Regulatory and Compliance Challenges - The regulatory environment includes compliance with the FDA for medical devices, which requires either 510(k) premarket notification or PMA approval for commercial distribution[89]. - The company must adhere to various federal and state fraud and abuse laws, which can result in significant penalties for violations[82]. - The company is a HIPAA business associate and is required to enter into business associate agreements (BAAs) with clients to safeguard protected health information (PHI)[201]. - The company anticipates ongoing compliance costs related to HIPAA and other privacy laws, which could significantly impact its financial results[201]. - The company must navigate complex healthcare regulations that may not have anticipated the data analytics services it provides, posing risks to compliance efforts[209]. Financial Performance and Risks - The Dollar-based Retention Rates for DOS Subscription Clients were 100%, 112%, and 102% for the years ended December 31, 2022, 2021, and 2020, respectively[45]. - The company has experienced significant growth over the last five years, but future revenue growth may not match historical rates or could decline[169]. - The company relies on a limited number of clients for a significant portion of its revenue, with the three largest clients contributing 11.2% of total revenue in 2022, down from 12.2% in 2021[152]. - The company recognizes technology and professional services revenue ratably over the term of contracts, meaning downturns may not be immediately reflected in financial results, complicating future performance evaluations[155]. Technology and Cybersecurity - The cybersecurity program includes industry-standard frameworks and certifications, such as HITRUST and SOC 2 - Type II, to protect sensitive information[78]. - The company may face increased cybersecurity risks due to reliance on internet technology and remote work arrangements[176]. - The company is migrating a significant portion of its computing infrastructure to Microsoft Azure, which may increase hosting costs and negatively impact technology gross margins[179]. - Disruptions in services from third-party providers could adversely affect the company's operations and client satisfaction[179]. Legal and Intellectual Property - The company holds 13 issued U.S. patents and intends to pursue additional patent protection to enhance its competitive position[68]. - The company may face significant expenses and operational disruptions due to potential intellectual property litigation, which could divert management's attention from core business operations[200]. - The company faces risks related to the potential infringement of third-party intellectual property rights, which could lead to costly litigation and operational limitations[199]. Market Trends and Economic Factors - The lingering effects of the COVID-19 pandemic and macroeconomic challenges, including high inflation and rising interest rates, continue to adversely affect the company's operations[117]. - Changes in the healthcare industry and client consolidation could negatively affect demand for the company's solutions and contract negotiations[115]. - Future changes in laws and regulations could impair the company's ability to collect and use consumer information, potentially decreasing demand for its solutions[208].

Health Catalyst, Inc. (NASDAQ:HCAT) Q3 2022 Earnings Conference Call November 8, 2022 5:00 PM ET Company Participants Adam Brown - Senior Vice President-Finance and Investor Relations Daniel Burton - Chief Executive Officer Bryan Hunt - Chief Financial Officer Conference Call Participants Anne Samuel - JPMorgan Ryan Daniels - William Blair Jessica Tassan - Piper Sandler Elizabeth Anderson - Evercore ISI Richard Close - Canaccord Genuity Daniel Grosslight - Citi David Larsen - BTIG Cindy Motz - Goldman Sachs ...

Revenue Performance - Total revenue for Q3 2022 was $68.354 million, a 10.5% increase from $61.737 million in Q3 2021[25] - Total revenue for the three months ended September 30, 2022, was $68.4 million, a 10.4% increase from $61.7 million in the same period of 2021[190] - For the nine months ended September 30, 2022, total revenue reached $207.1 million, up 16.9% from $177.2 million in 2021[190] - Recurring technology revenue for the nine months ended September 30, 2022, was $131.144 million, up 22.1% from $107.358 million in 2021[117] - The Technology segment generated $43.997 million in revenue for the three months ended September 30, 2022, compared to $38.262 million in 2021, reflecting a growth of 15.5%[181] - The Professional Services segment reported revenue of $24.357 million for the three months ended September 30, 2022, a slight increase from $23.475 million in 2021[181] Profitability and Losses - Net loss for Q3 2022 was $45.735 million, compared to a net loss of $40.014 million in Q3 2021, reflecting a 14.4% increase in losses[25] - The company reported a comprehensive loss of $46.175 million for Q3 2022, compared to a comprehensive loss of $40.056 million in Q3 2021[29] - For the nine months ended September 30, 2022, the net loss was $101.621 million, compared to a net loss of $104.218 million for the same period in 2021, representing a decrease of 2.6%[36] - Net losses for the three months ended September 30, 2022, were $(45.7) million, compared to $(40.0) million in the same period of 2021[190] - Adjusted EBITDA for the three months ended September 30, 2022, was $(4.6) million, an improvement from $(5.8) million in 2021[190] Assets and Liabilities - Total assets decreased to $776.200 million as of September 30, 2022, down from $832.096 million as of December 31, 2021[21] - Total liabilities increased to $336.234 million as of September 30, 2022, compared to $309.998 million as of December 31, 2021[21] - Cash and cash equivalents decreased to $124.224 million as of September 30, 2022, down from $193.227 million as of December 31, 2021[21] - Total stockholders' equity as of September 30, 2022, was $439.966 million, down from $549.206 million as of September 30, 2021, indicating a decline of 19.9%[34] Operating Expenses - Operating expenses for Q3 2022 totaled $77.735 million, an increase from $70.900 million in Q3 2021[25] - Cash flows from operating activities resulted in a net cash used of $20.449 million for the nine months ended September 30, 2022, compared to $13.348 million for the same period in 2021, reflecting an increase in cash outflow of 53.1%[36] - Advertising costs for the three months ended September 30, 2022, were $4.4 million, compared to $2.3 million for the same period in 2021[77] Stock and Compensation - The weighted-average shares outstanding for calculating net loss per share, basic, was 54.304 million in Q3 2022, compared to 48.999 million in Q3 2021[25] - Total stock-based compensation for the three months ended September 30, 2022, was $17,304,000, slightly down from $17,487,000 in the same period of 2021[154] - The total stock-based compensation expense for the nine months ended September 30, 2022, was $53,356,000, compared to $48,724,000 for the same period in 2021[154] - The company had $114.4 million of unrecognized stock-based compensation expense related to outstanding RSUs expected to be recognized over a weighted-average period of 2.6 years[156] Acquisitions - Health Catalyst acquired ARMUS Corporation for a total consideration of $9.4 million, consisting of $9.3 million in cash and $0.1 million in common shares[98] - Health Catalyst acquired KPI Ninja, Inc. for a total consideration of $21.4 million, which included $18.5 million in cash and $2.9 million in common shares[105] - The acquisition of Twistle, Inc. was completed for $91.9 million, including $46.7 million in cash and $43.1 million in common shares, resulting in goodwill of $62.15 million[113] Financial Instruments and Equity - The fair value of convertible senior notes, with an aggregate principal of $230.0 million, was estimated at $196.0 million as of September 30, 2022[127] - The company recorded a net increase to the convertible senior notes balance of $44.0 million due to the reclassification of the conversion premium from equity to debt following the adoption of the new standard[93] - The company has authorized up to 25,000,000 shares of preferred stock, but none were issued or outstanding as of September 30, 2022[144] Future Expectations - The company expects to recognize $105.0 million of revenue on unsatisfied performance obligations as of September 30, 2022, with approximately 70% expected to be recognized over the next 24 months[177] - The company anticipates additional restructuring costs of at least $2.0 million in the fourth quarter of 2022 as part of its ongoing restructuring initiatives[185] - The company expects Adjusted Technology Gross Margin to fluctuate and potentially decline in the near term due to ongoing customer transitions to third-party hosted data centers[214]

Health Catalyst, Inc. (NASDAQ:HCAT) Q2 2022 Earnings Conference Call August 4, 2022 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 – J.P. Morgan Jared Haase – William Blair Elizabeth Anderson – Evercore Stephanie Davis – SVB Securities John Ransom – Raymond James Jessica Tassan – Piper Sandler Richard Close – Canaccord Genuity Daniel Grosslight ...