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Health Catalyst Earnings Calls
| Release date | May 11, 2026 |
| EPS estimate | $0.0100 |
| EPS actual | $0.0200 |
| EPS Surprise | 100.00% |
| Revenue estimate | 69.243M |
| Revenue actual | 70.756M |
| Revenue Surprise | 2.19% |
| Release date | Mar 12, 2026 |
| EPS estimate | $0.0900 |
| EPS actual | $0.0800 |
| EPS Surprise | -11.11% |
| Revenue estimate | 73.967M |
| Revenue actual | 74.679M |
| Revenue Surprise | 0.96% |
| Release date | Nov 10, 2025 |
| EPS estimate | $0.0500 |
| EPS actual | $0.0600 |
| EPS Surprise | 20.00% |
| Revenue estimate | 74.076M |
| Revenue actual | 76.323M |
| Revenue Surprise | 3.03% |
| Release date | Aug 07, 2025 |
| EPS estimate | $0.0300 |
| EPS actual | $0.0400 |
| EPS Surprise | 33.33% |
| Revenue estimate | 85.136M |
| Revenue actual | 80.721M |
| Revenue Surprise | -5.19% |
Last 4 Quarters for Health Catalyst
Below you can see how HCAT performed 4 days prior and 4 days after releasing the earnings report. Also, you can see the pre-estimates and the actual earnings. This information can give you a slight idea of what you might expect for the next quarter's release.
| Release date | Aug 07, 2025 |
| Price on release | $3.69 |
| EPS estimate | $0.0300 |
| EPS actual | $0.0400 |
| EPS surprise | 33.33% |
| Date | Price |
|---|---|
| Aug 01, 2025 | $3.52 |
| Aug 04, 2025 | $3.63 |
| Aug 05, 2025 | $3.82 |
| Aug 06, 2025 | $3.82 |
| Aug 07, 2025 | $3.69 |
| Aug 08, 2025 | $2.83 |
| Aug 11, 2025 | $2.70 |
| Aug 12, 2025 | $3.00 |
| Aug 13, 2025 | $3.22 |
| 4 days before | 4.83% |
| 4 days after | -12.74% |
| On release day | -23.31% |
| Change in period | -8.52% |
| Release date | Nov 10, 2025 |
| Price on release | $2.85 |
| EPS estimate | $0.0500 |
| EPS actual | $0.0600 |
| EPS surprise | 20.00% |
| Date | Price |
|---|---|
| Nov 04, 2025 | $3.03 |
| Nov 05, 2025 | $3.05 |
| Nov 06, 2025 | $2.96 |
| Nov 07, 2025 | $2.83 |
| Nov 10, 2025 | $2.85 |
| Nov 11, 2025 | $2.69 |
| Nov 12, 2025 | $2.46 |
| Nov 13, 2025 | $2.35 |
| Nov 14, 2025 | $2.27 |
| 4 days before | -5.94% |
| 4 days after | -20.53% |
| On release day | -5.61% |
| Change in period | -25.25% |
| Release date | Mar 12, 2026 |
| Price on release | $1.79 |
| EPS estimate | $0.0900 |
| EPS actual | $0.0800 |
| EPS surprise | -11.11% |
| Date | Price |
|---|---|
| Mar 06, 2026 | $1.95 |
| Mar 09, 2026 | $1.91 |
| Mar 10, 2026 | $1.82 |
| Mar 11, 2026 | $1.86 |
| Mar 12, 2026 | $1.79 |
| Mar 13, 2026 | $1.32 |
| Mar 16, 2026 | $1.22 |
| Mar 17, 2026 | $1.17 |
| Mar 18, 2026 | $1.16 |
| 4 days before | -8.21% |
| 4 days after | -35.20% |
| On release day | -26.26% |
| Change in period | -40.51% |
| Release date | May 11, 2026 |
| Price on release | $1.38 |
| EPS estimate | $0.0100 |
| EPS actual | $0.0200 |
| EPS surprise | 100.00% |
| Date | Price |
|---|---|
| May 05, 2026 | $1.60 |
| May 06, 2026 | $1.57 |
| May 07, 2026 | $1.59 |
| May 08, 2026 | $1.52 |
| May 11, 2026 | $1.38 |
| May 12, 2026 | $1.48 |
| May 13, 2026 | $1.34 |
| May 14, 2026 | $1.17 |
| May 15, 2026 | $1.19 |
| 4 days before | -13.75% |
| 4 days after | -13.77% |
| On release day | 7.25% |
| Change in period | -25.63% |
Health Catalyst Earnings Call Transcript Summary of Q1 2026
Key points for investors:
- Q1 2026 results beat expectations: total revenue $70.8M (tech $49.5M; services $21.3M) and adjusted EBITDA $9.1M. Adjusted technology gross margin 55.3%; adjusted gross margin 51.5%. Adjusted operating expenses down vs prior year. Cash, cash equivalents and short-term investments ~$108.8M (up $13.1M vs 12/31/25).
- Company is executing a broad transformation (Project NEXUS) to simplify the operating model, reduce costs and focus on higher‑margin, technology-led offerings and AI. Project NEXUS: expected annual run‑rate savings ~ $30M, Q2 restructuring charges ~ $4M, ~9% headcount reduction; most restructuring actions expected complete by year‑end 2026.
- Migration strategy (DAS to Ignite) caused material near-term revenue pressure. Management completed a line‑by‑line client review: of ~$52M previously identified at‑risk ARR, they expect to retain at least $22M and have ~ $30M still at risk. Current expected impact ~ $20M in 2026 and ~$10M in 2027.
- Guidance provided: full year 2026 revenue $260M–$265M; adjusted EBITDA $30M–$33M. Q2 2026 revenue guidance $68M–$70M; Q2 adjusted EBITDA $9M–$10M. New operating metric: total bookings (expected $22M–$26M of new bookings in 2026), with typical bookings-to-revenue conversion of ~3–6 months.
- Margin and mix commentary: professional services revenue will continue to decline as a percent of revenue (exit-2026 services run rate expected $55M–$65M). Management expects adjusted technology gross margin to finish 2026 in the mid-60s but near-term pressure persists due to duplicate hosting and heavy data-loading costs from migrations.
- Strategic differentiation: management emphasizes an 18-year proprietary improvement data set and purpose-built AI "improvement agents" (Ignite Intelligence) as the durable competitive moat; early AI pilots reportedly increased developer throughput and customer feedback on cost-management AI has been positive.
- Near-term tradeoff: management acknowledges short-term revenue pressure from unwinding prior migration strategy and accumulated complexity but argues these actions are necessary to deliver more durable, profitable growth by 2027.
