Filing Flows › Health Catalyst (HCAT) › Q3 2026 › vs Q3 2025
Health Catalyst (HCAT) Q3 2026 vs Q3 2025 (year over year)
Health Catalyst's revenue fell $20.0M (-26%) from $76.3M in Q3 2025 to $56.3M in Q3 2026. The biggest changes: Technology −$11.4M (-22%); Accumulated Impairment Losses −$8.7M (-36%). Operating margin 89.1% against -22.9% (+112.0 pts).
Health Catalyst, Q3 2026: revenue $56.3M (-26% year over year), operating margin 89.1%, net earnings $40.5M, operating cash flow −$1.9M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 89.1% | -22.9% | +112.0 pts |
| Net margin | 72.0% | -29.1% | +101.1 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Technology | $40.7M | $52.1M | −$11.4M | -22% |
| Accumulated Impairment Losses | $15.6M | $24.3M | −$8.7M | -36% |
| Revenue | $56.3M | $76.3M | −$20.0M | -26% |
| Operating profit | $50.1M | −$17.5M | $67.6M | — |
| Pre-tax earnings | $40.1M | −$22.2M | $62.3M | — |
| Other expense, net | $10.0M | $4.7M | $5.4M | +114% |
| Income tax benefit | $393K | −$41K | $434K | — |
| Net earnings | $40.5M | −$22.2M | $62.7M | — |
| Operating cash sources | $56.2M | −$2.1M | $58.3M | — |
| Depreciation & amortization | $9.7M | $12.6M | −$2.9M | -23% |
| Share-based compensation | $4.1M | $7.0M | −$3.0M | -42% |
| Cash used in operations | $1.9M | $464K | $1.4M | +304% |
| Working capital & other | $56.2M | −$2.1M | $58.3M | — |
Questions
How much did Health Catalyst's revenue grow year over year in Q3 2026?
Health Catalyst's revenue fell $20.0M (-26%) from $76.3M in Q3 2025 to $56.3M in Q3 2026.
What drove Health Catalyst's revenue change in Q3 2026?
Technology −$11.4M (-22%); Accumulated Impairment Losses −$8.7M (-36%).