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Health Catalyst Reports Fourth Quarter and Year End 2024 Results
HCATHealth Catalyst(HCAT) GlobeNewswire·2025-02-26 21:03

Core Insights - Health Catalyst, Inc. reported strong financial performance for the full year 2024, achieving total revenue of 307millionandAdjustedEBITDAof307 million and Adjusted EBITDA of 26 million, with expectations for continued growth in 2025 [2][4][11] - The Technology segment generated 195millioninrevenuefor2024,reflectinga10195 million in revenue for 2024, reflecting a 10% year-over-year growth, and is anticipated to grow faster than the overall business in 2025 [2][4] - The company has made leadership changes, including the appointment of Dr. Jill Hoggard Green to the Board of Directors and promotions within the leadership team [3] Financial Performance - For Q4 2024, total revenue was 79.6 million, a 6% increase from 75.1millioninQ42023[4]−GrossprofitforQ42024was75.1 million in Q4 2023 [4] - Gross profit for Q4 2024 was 28.6 million, up 20% from 23.9millioninQ42023,resultinginagrossmarginof3623.9 million in Q4 2023, resulting in a gross margin of 36% [4] - The net loss for Q4 2024 was 20.7 million, a 32% improvement compared to a net loss of 30.3millioninQ42023[4]KeyMetrics−ThenumberofPlatformClientsincreasedto130in2024,upfrom109in2023[5]−TheDollar−basedRetentionRatefortheTechnologysegmentandTech−EnabledManagedServices(TEMS)was10230.3 million in Q4 2023 [4] Key Metrics - The number of Platform Clients increased to 130 in 2024, up from 109 in 2023 [5] - The Dollar-based Retention Rate for the Technology segment and Tech-Enabled Managed Services (TEMS) was 102% [7] - Cash and cash equivalents at the end of 2024 were 249.6 million, significantly higher than 106.3millionattheendof2023[17][24]FinancialOutlook−ForQ12025,thecompanyexpectstotalrevenueofapproximately106.3 million at the end of 2023 [17][24] Financial Outlook - For Q1 2025, the company expects total revenue of approximately 79 million and Adjusted EBITDA of approximately 4million[11]−Forthefullyear2025,totalrevenueisprojectedtobeapproximately4 million [11] - For the full year 2025, total revenue is projected to be approximately 335 million, with Technology revenue expected to reach approximately 220millionandAdjustedEBITDAtargetedatapproximately220 million and Adjusted EBITDA targeted at approximately 41 million [11]