Health Catalyst(US:HCAT)2025-11-10 21:17Financial Performance - Total revenue for Q3 2025 was $76.3 million, slightly down from $76.4 million in Q3 2024, representing a year-over-year change of 0%[4] - Gross profit increased to $30.0 million in Q3 2025, up 8% from $27.8 million in Q3 2024, resulting in a gross margin of 39%[4] - Adjusted EBITDA for Q3 2025 was $12.0 million, a significant increase of 64% compared to $7.3 million in Q3 2024[4] - The net loss for Q3 2025 was $22.2 million, which is a 51% increase from a net loss of $14.7 million in Q3 2024[4] - For Q4 2025, the company expects total revenue of approximately $73.5 million and Adjusted EBITDA of approximately $13.4 million[6] - For the full year 2025, total revenue is projected to be approximately $310 million, with Adjusted EBITDA expected to reach approximately $41 million[6] - The net loss for the nine months ended September 30, 2025, was $86,949,000, compared to a net loss of $48,829,000 for the same period in 2024, indicating an increase in losses of 78%[20] - Net loss for the three months ended September 30, 2025, was $22,229,000, compared to a net loss of $14,726,000 for the same period in 2024, representing a 51.0% increase in losses[31] Cash and Assets - Cash and cash equivalents as of September 30, 2025, were $40.3 million, a decrease from $249.6 million as of December 31, 2024[14] - Total assets decreased to $587.1 million as of September 30, 2025, down from $858.9 million as of December 31, 2024[14] - Cash flows from operating activities for the nine months ended September 30, 2025, resulted in a net cash used of $9,181,000, compared to net cash provided of $18,086,000 for the same period in 2024[20] - Cash and cash equivalents at the end of the period on September 30, 2025, were $40,305,000, down from $328,327,000 at the end of the same period in 2024, representing a decrease of 87%[20] Profitability Metrics - The company reported an increase in Adjusted Gross Profit to $40.1 million in Q3 2025, up 11% from $36.3 million in Q3 2024[4] - Adjusted Gross Profit for the three months ended September 30, 2025, was $40,133,000, with an Adjusted Gross Margin of 53%, compared to $36,289,000 and 48% for the same period in 2024[26] - Adjusted Net Income for Q3 2025 was $4,306,000, compared to $4,431,000 in Q3 2024, a decrease of 2.8%[34] - Adjusted Net Income per share for Q3 2025 was $0.06, slightly down from $0.07 in Q3 2024[34] Operating Expenses - Total operating expenses for Q3 2025 were $55,325,000, compared to $47,727,000 in Q3 2024, reflecting a 15.5% increase[32] - Adjusted Operating Expenses for Q3 2025 were $28,133,000, slightly down from $28,994,000 in Q3 2024, showing a decrease of 3.0%[32] - Stock-based compensation for Q3 2025 was $7,039,000, down from $9,512,000 in Q3 2024, a reduction of 26.0%[34] Special Charges - Acquisition-related costs for the three months ended September 30, 2025, totaled $(1,816,000), compared to $1,487,000 for the same period in 2024[17] - Restructuring costs for the three months ended September 30, 2025, amounted to $4,772,000, compared to no restructuring costs in the same period in 2024[18] - Non-recurring lease-related charges for the three months ended September 30, 2025, were $6,900,000, compared to $2,200,000 for the same period in 2024[18] Guidance and Strategy - The company continues to focus on high-impact solutions with proven ROI, reaffirming its full-year 2025 guidance[3]