Health Catalyst (NASDAQ:HCAT) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Health Catalyst (NASDAQ:HCAT) announced its earnings results on Thursday. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02), FiscalAI reports. Health Catalyst had a negative return on equity of 3.98% and a negative net margin of 57.20%.The firm had revenue of $74.68 million for the quarter, compared to analyst estimates of $73.99 million.

Here are the key takeaways from Health Catalyst’s conference call:

• CEO Ben Albert assumed the role and launched a comprehensive strategic review (including “turning over every rock”) and will delay full-year guidance while evaluating options to maximize shareholder value.
• For FY2025 the company reported revenue of $311.1M (+1% YoY), technology revenue of $208.3M (+7% YoY), and Adjusted EBITDA of $41.4M (up 59%), with adjusted gross margin improving to 51.1%.
• Health Catalyst recorded $110.2M of goodwill and intangible impairment charges in 2025, contributing to a GAAP net loss of $178M.
• Management warned of significant migration pressure from the DOS→Ignite transition, with $12.5M of DOS-related ARR already notified for churn (≈75% expected in 2026) and an additional $52M at risk — including $35M of data platform infrastructure ARR.
• The company highlighted restructuring, workforce optimization, and tighter commercial focus that reduced adjusted operating expenses and improved margins, while prioritizing technology ARR bookings, retention, and targeted AI/R&D investments.

Health Catalyst Price Performance

HCAT opened at $1.32 on Friday. The firm has a market cap of $93.36 million, a price-to-earnings ratio of -0.52 and a beta of 1.76. Health Catalyst has a fifty-two week low of $1.20 and a fifty-two week high of $5.06. The company’s 50-day moving average price is $2.05 and its 200 day moving average price is $2.57. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.46.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Citigroup cut their price objective on shares of Health Catalyst from $2.75 to $1.75 and set a “neutral” rating on the stock in a report on Friday. Raymond James Financial set a $3.00 price objective on shares of Health Catalyst in a research note on Friday. Stifel Nicolaus cut their price target on Health Catalyst from $3.75 to $2.00 and set a “hold” rating on the stock in a research note on Friday. Canaccord Genuity Group cut their target price on Health Catalyst from $5.00 to $2.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Cantor Fitzgerald reduced their price objective on shares of Health Catalyst from $4.00 to $3.00 and set a “neutral” rating on the stock in a research note on Friday. Five analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Health Catalyst has an average rating of “Hold” and a consensus price target of $3.16.

Institutional Trading of Health Catalyst

A number of institutional investors and hedge funds have recently made changes to their positions in HCAT. Invesco Ltd. lifted its holdings in shares of Health Catalyst by 6.5% in the 4th quarter. Invesco Ltd. now owns 118,591 shares of the company’s stock worth $283,000 after purchasing an additional 7,186 shares during the last quarter. Jane Street Group LLC bought a new stake in Health Catalyst in the second quarter valued at $173,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Health Catalyst by 7.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,047 shares of the company’s stock valued at $163,000 after acquiring an additional 2,624 shares during the period. State of Wyoming boosted its holdings in shares of Health Catalyst by 97.3% during the fourth quarter. State of Wyoming now owns 67,573 shares of the company’s stock valued at $161,000 after acquiring an additional 33,320 shares during the period. Finally, Jump Financial LLC grew its position in shares of Health Catalyst by 124.5% during the fourth quarter. Jump Financial LLC now owns 59,000 shares of the company’s stock worth $141,000 after acquiring an additional 32,717 shares during the last quarter. 85.00% of the stock is currently owned by institutional investors and hedge funds.

Health Catalyst News Roundup

Here are the key news stories impacting Health Catalyst this week:

• Positive Sentiment: Revenue and some profitability metrics showed resilience: Q4 revenue slightly beat consensus ($74.68M vs. $73.99M) and the company reported full‑year revenue of $311.1M with Adjusted EBITDA of $41.4M — signals that core demand remains. Health Catalyst Reports Fourth Quarter and Year End 2025 Results
• Positive Sentiment: Some chart/analyst commentary suggests the stock may be finding technical support (hammer pattern) and that earnings‑estimate revisions could stabilize — a possible near‑term bottom for opportunistic buyers. HCAT May Find a Bottom Soon
• Neutral Sentiment: Management has launched a strategic review and the CEO would not rule out a potential sale — this could unlock value but also creates uncertainty around capital allocation and timing. Seeking Alpha: CEO declines to rule out sale
• Negative Sentiment: The quarter showed an EPS miss and continued negative margins — Q4 EPS missed estimates (reported ~$0.08 vs. consensus around $0.10), which undercut confidence in near‑term profitability. MarketBeat Q4 results summary
• Negative Sentiment: Q1 revenue guidance was lowered to $68.0M–$70.0M vs. consensus ~ $74.1M — the guidance shortfall appears to be the main driver of the selloff since it signals softer near‑term top‑line momentum. Earnings press release / guidance
• Negative Sentiment: Multiple sell‑side firms lowered price targets and moved to neutral/hold/equal‑weight (Citigroup to $1.75, Stephens and Stifel to $2.00), increasing downward pressure and reducing buy‑side conviction. Analyst price-target cuts (Benzinga)
• Negative Sentiment: Market reaction was amplified by heavy volume and headlines emphasizing the mixed print and management uncertainty, leading to sharp intraday selling despite the revenue beat. MSN: stock reaction

Health Catalyst Company Profile

Health Catalyst (NASDAQ: HCAT) is a healthcare data and analytics technology company founded in 2008 and headquartered in Salt Lake City, Utah. The company went public in 2019 and has since focused on delivering a unified data platform that helps healthcare organizations aggregate and analyze clinical, financial and operational information.

The core of Health Catalyst’s offering is the Data Operating System (DOS), a modular data management platform that integrates disparate data sources—from electronic health records to claims and patient-generated data—into a single analytics environment.