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Health Catalyst (HCAT) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Health Catalyst (HCAT) Q3 2026 earnings results →
Q3 2026 Revenue down 26% year over year to $56.3M · 72¢ of every $1 of revenue kept as net profit · operating margin 89.1%
Health Catalyst made $56.3M in Q3 2026 (-26% Y/Y): Technology $40.7M, Accumulated Impairment Losses $15.6M. Operating margin 89.1%, net earnings $40.5M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $56.3M in Q3 2026, down 26% year over year and down 20% from the previous quarter. Technology was the largest line at 72% of revenue. Technology lost $11.4M year over year (down 22%), 57% of the total change.
Operating profit was $50.1M, a 89.1% margin (up 112.0 points year over year). Net earnings were $40.5M. The effective tax rate was -1.0%.
Operating cash flow was −$1.9M. Non-cash charges added back $9.7M of depreciation and amortization and $4.1M of share-based compensation. Working capital and other items used $56.2M. Capital expenditures of $156K exceeded it, leaving free cash flow of −$2.0M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $56.3M | -26% | 89.1% | $40.5M | −$1.9M |
| Q2 2026 | 10-Q | Aug 6, 2026 | $70.5M | -13% | -51.8% | −$40.5M | $275K |
| Q1 2026 | 10-Q | May 11, 2026 | $70.8M | -11% | -150.5% | −$111M | $18.5M |
| Q4 2025 | 10-K | Mar 12, 2026 | $74.7M | -6% | -115.3% | −$91.0M | $9.9M |
| Q3 2025 | 10-Q | Nov 10, 2025 | $76.3M | 0% | -22.9% | −$22.2M | −$464K |
| Q2 2025 | 10-Q | Aug 8, 2025 | $80.7M | +6% | -46.0% | −$41.0M | −$9.0M |
| Q1 2025 | 10-Q | May 9, 2025 | $79.4M | +6% | -25.4% | −$23.7M | $280K |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
Buys from
About Health Catalyst
We are a leading provider of data and analytics technology and services to healthcare organizations. Our Solution comprises our cloud-based data and analytics platform, software applications, and expertise. Our clients, which are primarily healthcare providers, use our Solution to manage their data, derive analytical insights to operate their organization, and produce measurable clinical, financial, and operational improvements. We envision a future where all healthcare decisions are data-informed. Our mission is to be the catalyst for massive, measurable, data-informed healthcare improvement. We fulfill our mission through a confluence of the following elements:
In its own words, from its 10-K, filed Mar 12, 2026.
Health Catalyst against its Services-Computer Programming, Data Processing, Etc. peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -26% against the peers' median +14%. Operating margin: 89.1% against the peers' median 20.1%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| HCAT Health Catalyst | Q3 2026 | $56.3M | -26% | 89.1% |
| GOOGL Alphabet | Q3 2026 | $127.6B | +25% | 31.8% |
| META Meta Platforms | Q3 2026 | $64.6B | +26% | 20.1% |
| SPCX Space Exploration Technologies | Q3 2026 | $14.6B | +161% | 19.1% |
| FLUT Flutter Entertainment | Q3 2026 | $3.9B | +2% | -30.7% |
| APP AppLovin | Q3 2026 | $2.2B | +56% | 78.2% |
| SNAP Snap | Q3 2026 | $1.7B | +14% | 4.5% |
| ZM Zoom Communications | Q2 FY27 | $1.3B | +5% | 24.6% |
| PINS Pinterest | Q3 2026 | $1.2B | +12% | 2.6% |
Source: Health Catalyst 10-Q on SEC EDGAR · CIK 1636422 · Services-Computer Programming, Data Processing, Etc.
Guidance and outlook
13F: who owns HCAT and who is buying
More on HCAT
- How Health Catalyst makes money: revenue by segment
- Health Catalyst next earnings date and what analysts expect
- Health Catalyst stock forecast, price target and fair value
- Who owns Health Catalyst stock: holders, funds and Congress trades
- Health Catalyst guidance and outlook
- Is Health Catalyst a takeover target? LBO and rumors
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results