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Health Catalyst (HCAT) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 6, 2026
Health Catalyst (HCAT) reported revenue of $70.5M for the second quarter 2026 (Q2 2026), -13% from a year earlier and -0.4% from the quarter before. Operating margin was -51.8%, net loss $40.5M (57.5% of revenue).
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 follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $70.5M | -0.4% | -13% |
| Operating profit | −$36.5M | — | — |
| Net earnings | −$40.5M | — | — |
| Operating cash flow | $275K | -99% | — |
What changed
Revenue was $70.5M in Q2 2026, down 13% year over year and roughly flat from the previous quarter. Technology was the largest line at 69% of revenue. Accumulated Impairment Losses lost $6.2M year over year (down 22%), 60% of the total change.
Operating costs exceeded revenue by $36.5M, an operating margin of -51.8%. Total costs fell 9% while revenue fell 13%. The fastest-growing cost line was General & admin (+44%). The quarter ended with a net loss of $40.5M, narrower than the previous quarter's $111.0M loss.
Operating cash flow was $275K. Non-cash charges added back $11.0M of depreciation and amortization and $2.7M of share-based compensation. Working capital and other items added $27.1M. Capital expenditures of $345K exceeded it, leaving free cash flow of −$70K.
Questions
What was Health Catalyst's revenue in the second quarter 2026?
Health Catalyst (HCAT) reported revenue of $70.5M for the second quarter 2026 (Q2 2026), -13% from a year earlier and -0.4% from the quarter before.
Was Health Catalyst profitable in the second quarter 2026?
Operating loss was $36.5M (-51.8% of revenue) and net loss $40.5M.
Source: Health Catalyst 10-Q on SEC EDGAR.