Filing Flows › Health Catalyst (HCAT) › Q2 2026 › vs Q2 2025
Health Catalyst (HCAT) Q2 2026 vs Q2 2025 (year over year)
Health Catalyst's revenue fell $10.2M (-13%) from $80.7M in Q2 2025 to $70.5M in Q2 2026. The biggest changes: Accumulated Impairment Losses −$6.2M (-22%); Technology −$4.1M (-8%).
Health Catalyst, Q2 2026: revenue $70.5M (-13% year over year), operating margin -51.8%, net loss $40.5M, operating cash flow $275K. The chart draws each line against Q2 2025, the increases inside each band.
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Technology | $48.8M | $52.9M | −$4.1M | -8% |
| Accumulated Impairment Losses | $21.7M | $27.8M | −$6.2M | -22% |
| Revenue | $70.5M | $80.7M | −$10.2M | -13% |
| Net loss | $40.5M | $41.0M | −$441K | -1% |
| Costs & expenses | $111M | $122M | −$10.7M | -9% |
| Operating costs | $107M | $118M | −$10.8M | -9% |
| Interest & other, net | $3.7M | $3.8M | −$61K | -2% |
| Income tax | $315K | $81K | $234K | +289% |
| Cost of revenue | $35.6M | $42.5M | −$6.9M | -16% |
| Research & development | $11.0M | $12.4M | −$1.4M | -11% |
| Sales & marketing | $10.4M | $13.2M | −$2.8M | -22% |
| General & admin | $11.9M | $8.3M | $3.6M | +44% |
| Other operating costs | $38.0M | $41.5M | −$3.4M | -8% |
| Operating cash sources | $40.8M | $32.0M | $8.8M | +28% |
| Depreciation & amortization | $11.0M | $12.7M | −$1.7M | -13% |
| Share-based compensation | $2.7M | $8.3M | −$5.6M | -67% |
| Working capital & other | $27.1M | $11.0M | $16.1M | +147% |
| Net loss absorbed | $40.5M | $41.0M | −$441K | -1% |
| Operating cash flow | $275K | −$9.0M | $9.3M | — |
| Capital expenditures | $345K | −$230K | $575K | — |
| Negative free cash flow (OCF − capex) | $70K | $8.8M | −$8.7M | -99% |
Questions
How much did Health Catalyst's revenue grow year over year in Q2 2026?
Health Catalyst's revenue fell $10.2M (-13%) from $80.7M in Q2 2025 to $70.5M in Q2 2026.
What drove Health Catalyst's revenue change in Q2 2026?
Accumulated Impairment Losses −$6.2M (-22%); Technology −$4.1M (-8%).