Health Catalyst Reports Fourth Quarter and Year End 2025 Results

Core Insights - Health Catalyst, Inc. reported total revenue of $311.1 million for the year ended December 31, 2025, reflecting a 1% increase from $306.6 million in 2024, while the quarterly revenue for Q4 2025 was $74.7 million, down 6% from $79.6 million in Q4 2024 [2][3][22] - The company experienced a significant net loss of $178 million for the full year 2025, compared to a net loss of $69.5 million in 2024, marking a 156% increase in losses [3][22] - Adjusted EBITDA for the year was $41.4 million, a 59% increase from $26.1 million in 2024, with Q4 2025 showing a 74% increase to $13.8 million from $7.9 million in Q4 2024 [3][22][40] Financial Performance - Total revenue for Q4 2025 was $74.7 million, down from $79.6 million in Q4 2024, while total revenue for the full year was $311.1 million, slightly up from $306.6 million in 2024 [3][22] - Gross profit for Q4 2025 was $31.4 million, a 10% increase from $28.6 million in Q4 2024, and for the full year, gross profit was $120.4 million, up 5% from $114.5 million in 2024 [3][22] - The gross margin improved to 42.0% in Q4 2025 from 35.9% in Q4 2024, and for the full year, it was 38.7%, up from 37.3% in 2024 [3][22] Client Metrics - The number of platform clients increased to 162 as of December 31, 2025, compared to 130 in 2024 [5] - The dollar-based retention rate for technology and Tech-Enabled Managed Services (TEMS) was 93% for 2025, down from 102% in 2024 [5][7] Cash Flow and Balance Sheet - Cash and cash equivalents decreased to $50.8 million as of December 31, 2025, from $249.6 million in 2024 [19][26] - The company reported a net cash provided by operating activities of $731,000 for the year, a significant decrease from $14.6 million in 2024 [26] Strategic Outlook - The company is focused on long-term success and aims to address challenges while leveraging its strengths in data and analytics technology for healthcare organizations [2][12] - Health Catalyst has not provided full-year guidance for 2026 due to an ongoing internal strategic and operational review [9][10]