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Health Catalyst (HCAT) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 5, 2026
Health Catalyst (HCAT) reported revenue of $56.3M for the third quarter 2026 (Q3 2026), -26% from a year earlier and -20% from the quarter before. Operating margin was 89.1%, net earnings $40.5M (72.0% of revenue).
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 follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $56.3M | -20% | -26% |
| Operating profit | $50.1M | — | — |
| Net earnings | $40.5M | — | — |
| Operating cash flow | −$1.9M | -782% | — |
What changed
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.
Questions
What was Health Catalyst's revenue in the third quarter 2026?
Health Catalyst (HCAT) reported revenue of $56.3M for the third quarter 2026 (Q3 2026), -26% from a year earlier and -20% from the quarter before.
Was Health Catalyst profitable in the third quarter 2026?
Operating profit was $50.1M (89.1% of revenue) and net earnings $40.5M.
Source: Health Catalyst 10-Q on SEC EDGAR.