Content Detail

• Content META

  Title	Health Catalyst Reports Fourth Quarter and Year End 2024 Results
  ID	7345020
  External ID	7583946599
  Author	Unknown
  Published Date	Feb. 26, 2025, 6:51 p.m.
  Summary	By: Health Catalyst, Inc. via GlobeNewswire SALT LAKE CITY, Feb. 26, 2025 (GLOBE NEWSWIRE) -- Health Catalyst, Inc. ("Health Catalyst," Nasdaq: HCAT), a leading provider of data and analytics technol
  Tags	press-release
  URL	http://business.minstercommunitypost.com/minstercommunitypost/article/gnwcq-2025-2-26-health-catalyst-reports-fourth-quarter-and-year-end-2024-results
  Sentiment	Negative: 0.01079    Neutral: 0.15037    Positive: 0.83885
  Relevance	0.02609

• Content Details

  Content ID	4650266
  Key	da2bfd2c-00c7-45e9-bdf3-fd044ed56e94
  Content	By: Health Catalyst, Inc. via GlobeNewswire SALT LAKE CITY, Feb. 26, 2025 (GLOBE NEWSWIRE) -- Health Catalyst, Inc. ("Health Catalyst," Nasdaq: HCAT), a leading provider of data and analytics technology and services to healthcare organizations, today reported financial results for the quarter and year ended December 31, 2024. “For the full year 2024, I am pleased to share that we achieved strong performance across our business, including total revenue of $307 million and Adjusted EBITDA of $26 million. Additionally, I am encouraged with our Technology segment, which had revenue of $195 million for full-year 2024 and $52 million for the fourth quarter of 2024, which represents 10% growth year-over-year. I am pleased with this progress and excited that we anticipate a continued reacceleration of topline growth for full year 2025, with our Tech segment growing faster than the total business. Likewise, I am pleased with our profitability progress and excited that we have raised our target for 2025 Adjusted EBITDA by $2 million, to approximately $41 million.” said Dan Burton, CEO of Health Catalyst. "As part of our annual planning process, we're grateful to share a few governance and leadership updates. First, we are thrilled to welcome Dr. Jill Hoggard Green to the Health Catalyst Board of Directors as of December 1, 2024. Jill is the former Chief Executive Officer of The Queens Health System and has been an extraordinary leader throughout her career. We are excited for Jill to be a member of our Board. Next, we wanted to take a moment to thank Anita Pramoda for her dedicated service as a member of our Board. After nearly a decade, she will complete her service on March 1, 2025. We are deeply grateful for her meaningful contributions. Finally, I'm excited to announce recent promotions to our leadership team. Dr. Daniel Samarov has been promoted to Chief AI Officer. In addition, Allie Coronis, Senior Vice President of Tech-Enabled Managed Services, and Dan Heinmiller, Senior Vice President of Implementation Services, have been appointed to our company-wide leadership team. We're looking forward to the meaningful impact these leaders will have in their new roles." Financial Highlights for the Three and Twelve Months Ended December 31, 2024 Key Financial Measures Three Months Ended December 31, Year over Year Change Twelve Months Ended December 31, Year over Year Change GAAP Financial Measures: (in thousands, except percentages) (in thousands, except percentages) Revenue Gross profit Gross margin Net loss Non-GAAP Financial Measures: Adjusted Gross Profit Adjusted Gross Margin Adjusted EBITDA ________________________ (1) These measures are not calculated in accordance with generally accepted accounting principles in the United States (GAAP). See the accompanying "Non-GAAP Financial Measures" section below for more information about these financial measures, including the limitations of such measures, and for a reconciliation of each measure to the most directly comparable measure calculated in accordance with GAAP. Other Key Metrics As of December 31, Platform Clients Year Ended December 31, Dollar-based Retention Rate (legacy) Dollar-based Retention Rate (Tech + TEMS) __________________ (1) We have updated the name and definition of this key metric to Platform Clients from DOS Subscription Clients to better reflect the deep, long-standing, multi-faceted relationships we strive to build with the entities we serve. Platform Clients have historically been defined as clients who directly or indirectly access our platform via a technology subscription contract. Direct access to our platform has included access to our DOS platform, Ignite platform, or Ninja Universe. Indirect access to our platform has included platform module components such as Ignite connectors, Healthcare.AI, Pop Analyzer, IDEA, and other platform components. Given the modularity of our Ignite platform, we anticipate Ignite infrastructure will be included in all of our technology Solutions in the near future and many of our Solutions already include Ignite components. Accordingly, beginning in 2025, Platform Clients will be defined as: (i) all Platform Clients as of December 31, 2024 under our historical definition (i.e., these clients will be included in our Platform Client count going forward until they cease to have an active subscription as of the end of the period), and (ii) going forward in 2025 and beyond, any technology client that signs contracts with at least $100,000 of incremental total annual recurring revenue (ARR) and non-recurring revenue in a given calendar year, inclusive of clients that come through acquisition if we first begin recognizing revenue for the client post-acquisition and that total ARR and non-recurring revenue exceeds $100,000 in that calendar year, so long as such client maintains an active subscription as of the end of the period. Once a client is designated as a Platform Client, it will continue to be a Platform Client unless it is no longer a client with an active subscription as of the end of the period. Please see our Annual Report on Form 10-K for the year ended December 31, 2024 expected to be filed with the SEC on or about February 26, 2025 for additional information. (2) Dollar-based Retention Rate (legacy) is calculated as of a period end by starting with the sum of the technology and professional services ARR from our Platform Clients as of the date 12 months prior to such period end and then calculating the sum of the ARR from these same clients as of the current period end. Please see our Annual Report on Form 10-K for the year ended December 31, 2024 expected to be filed with the SEC on or about February 26, 2025 for additional information. (3) Dollar-based Retention Rate (Tech + TEMS) is calculated as of a period end by starting with the sum of the technology ARR and Tech-Enabled Managed Services (TEMS) ARR from our Platform Clients as of the date 12 months prior to such period end (this calculation excludes professional services ARR and non-recurring revenue), calculating the sum of the ARR from these same clients as of the current period end (which includes any upsells and also reflects contraction or attrition over the trailing twelve months but excludes revenue from new Platform Clients added in the current period who were not clients at the beginning of such period; this current period ARR may include acquired ARR from clients that overlap with the Platform Clients in a given calendar year), and then dividing the current period ARR by the prior period ARR. Please see our Annual Report on Form 10-K for the year ended December 31, 2024 expected to be filed with the SEC on or about February 26, 2025 for additional information. Financial Outlook Health Catalyst provides forward-looking guidance on total revenue, a GAAP measure, and Adjusted EBITDA, a non-GAAP measure. For the first quarter of 2025, we expect: Total revenue of approximately $79 million, and Adjusted EBITDA of approximately $4 million For the full year of 2025, we expect: Total revenue of approximately $335 million, Technology revenue of approximately $220 million, and Adjusted EBITDA of approximately $41 million We have not reconciled guidance for Adjusted EBITDA to net loss, the most directly comparable GAAP measure, and have not provided forward-looking guidance for net loss, because there are items that may impact net loss, including stock-based compensation, that are not within our control or cannot be reasonably forecasted. Quarterly Conference Call Details We will host a conference call to review the results today, Wednesday, February 26, 2025, at 5:00 p.m. E.T. The conference call can be accessed by dialing (800) 343-5172 for U.S. participants, or (203) 518-9856 for international participants, and referencing conference ID “HCATQ424.” A live audio webcast will be available online at https://ir.healthcatalyst.com/. A replay of the call will be available via webcast for on-demand listening shortly after the completion of the call, at the same web link, and will remain available for approximately 90 days. About Health Catalyst Health Catalyst (Nasdaq: HCAT) is a leading provider of data and analytics technology and services that ignite smarter healthcare, lighting the path to measurable clinical, financial, and operational improvement. More than 1,000 organizations worldwide rely on Health Catalyst's offerings, including our cloud-based technology ecosystem Health Catalyst Ignite™, AI-enabled data and analytics solutions, and expert services to drive meaningful outcomes across hundreds of millions of patient records. Powered by high-value data, standardized measures and registries, and deep healthcare domain expertise, Ignite helps organizations transform complex information into actionable insights. Backed by a multi-decade mission and a proven track record of delivering billions of dollars in measurable results, Health Catalyst continues to serve as the catalyst for massive, measurable, data-informed healthcare improvement and innovation. Available Information Our investors and others should note that we announce material information to the public about our company, products and services, and other matters related to our company through a variety of means, including our website (https://www.healthcatalyst.com/), our investor relations website (https://ir.healthcatalyst.com/), press releases, SEC filings, public conference calls, and social media, including our and our CEO's social media accounts (including on LinkedIn), in order to achieve broad, non-exclusionary distribution of information to the public and to comply with our disclosure obligations under Regulation FD. Forward-Looking Statements This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended. These forward-looking statements include statements regarding our future growth and our financial outlook for Q1 and fiscal year 2025. Forward-looking statements are subject to risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. Important risks and uncertainties that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) changes in laws and regulations applicable to our business model; (ii) changes in market or industry conditions, regulatory environment, and receptivity to our technology and services; (iii) results of litigation or a security incident; (iv) the loss of one or more key clients or partners; (v) macroeconomic challenges (including high inflationary and/or high interest rate environments, or market volatility caused by bank failures and measures taken in response thereto) and any new public health crisis; and (vi) changes to our abilities to recruit and retain qualified team members. For a detailed discussion of the risk factors that could affect our actual results, please refer to the risk factors identified in our SEC reports, including, but not limited to the Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2024 that was filed with the SEC on November 7, 2024 and the Annual Report on Form 10-K for the year ended December 31, 2024 expected to be filed with the SEC on or about February 26, 2025. All information provided in this release and in the attachments is as of the date hereof, and we undertake no duty to update or revise this information unless required by law. Consolidated Balance Sheets (in thousands, except share and per share data) As of December 31, Assets Current assets: Cash and cash equivalents Short-term investments Accounts receivable, net Prepaid expenses and other assets Total current assets Property and equipment, net Intangible assets, net Operating lease right-of-use assets Goodwill Other assets Total assets Liabilities and stockholders' equity Current liabilities: Accounts payable Accrued liabilities Deferred revenue Operating lease liabilities Current portion of long-term debt — Total current liabilities Long-term debt, net of current portion Deferred revenue, net of current portion Operating lease liabilities, net of current portion Other liabilities Total liabilities Stockholders' equity: Preferred stock, $0.001 par value per share; 25,000,000 shares authorized and no shares issued and outstanding as of December 31, 2024 and 2023 — — Common stock, $0.001 par value per share, and additional paid-in capital; 500,000,000 shares authorized as of December 31, 2024 and 2023; 64,043,799 and 58,295,491 shares issued and outstanding as of December 31, 2024 and 2023, respectively Accumulated deficit Accumulated other comprehensive (loss) income Total stockholders' equity Total liabilities and stockholders' equity Consolidated Statements of Operations (in thousands, except per share data, unaudited) Three Months Ended December 31, Twelve Months Ended December 31, Revenue: Technology Professional services Total revenue Cost of revenue, excluding depreciation and amortization: Technology Professional services Total cost of revenue, excluding depreciation and amortization Operating expenses: Sales and marketing Research and development General and administrative Depreciation and amortization Total operating expenses Loss from operations Interest and other expense, net Loss before income taxes Income tax provision Net loss Net loss per share, basic Net loss per share, diluted Weighted-average shares outstanding used in calculating net loss per share, basic Weighted-average shares outstanding used in calculating net loss per share, diluted _______________ (1) Includes stock-based compensation expense as follows: Three Months Ended December 31, Twelve Months Ended December 31, Stock-Based Compensation Expense: (in thousands) (in thousands) Cost of revenue, excluding depreciation and amortization: Technology Professional services Sales and marketing Research and development General and administrative Total (2) Includes acquisition-related costs, net as follows: Three Months Ended December 31, Twelve Months Ended December 31, Acquisition-related costs, net: (in thousands) (in thousands) Cost of revenue, excluding depreciation and amortization: Technology Professional services Sales and marketing Research and development General and administrative Total (3) Includes restructuring costs, as follows: Three Months Ended December 31, Twelve Months Ended December 31, Restructuring costs: (in thousands) (in thousands) Cost of revenue, excluding depreciation and amortization: Technology — Professional services — Sales and marketing — Research and development — General and administrative — Total — (4) Includes litigation costs, as follows: Three Months Ended December 31, Twelve Months Ended December 31, Litigation costs: (in thousands) (in thousands) General and administrative — — — (5) Includes non-recurring lease-related charges, as follows: Three Months Ended December 31, Twelve Months Ended December 31, Non-recurring lease-related charges: (in thousands) (in thousands) General and administrative — Consolidated Statements of Cash Flows (in thousands) Year Ended December 31, Cash flows from operating activities Net loss Adjustments to reconcile net loss to net cash provided by (used in) operating activities: Stock-based compensation expense Depreciation and amortization Investment discount and premium accretion Impairment of long-lived assets Non-cash operating lease expense Provision for expected credit losses Amortization of debt discount, issuance costs, and deferred financing costs Deferred tax provision (benefit) Change in fair value of contingent consideration liabilities — Other Change in operating assets and liabilities: Accounts receivable, net Prepaid expenses and other assets Accounts payable, accrued liabilities, and other liabilities Deferred revenue Operating lease liabilities Net cash provided by (used in) operating activities Cash flows from investing activities Proceeds from the sale and maturity of short-term investments Purchases of short-term investments Capitalization of internal-use software Acquisition of businesses, net of cash acquired Purchases of property and equipment Purchases of intangible assets Proceeds from the sale of property and equipment Net cash provided by (used in) investing activities Cash flows from financing activities Proceeds from issuance of long-term debt, net of issuance costs — Payment of deferred financing costs — Repayment of debt — Proceeds from employee stock purchase plan Proceeds from exercise of stock options Repurchase of common stock — Net cash provided by (used in) financing activities Effect of exchange rate changes on cash and cash equivalents Net increase (decrease) in cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period Non-GAAP Financial Measures To supplement our financial information presented in accordance with GAAP, we believe certain non-GAAP financial measures, including Adjusted Gross Profit, Adjusted Gross Margin, Adjusted EBITDA, Adjusted Net Income, and Adjusted Net Income per share, basic and diluted, are useful in evaluating our operating performance. For example, we exclude stock-based compensation expense because it is non-cash in nature and excluding this expense provides meaningful supplemental information regarding our operational performance and allows investors the ability to make more meaningful comparisons between our operating results and those of other companies. We use this non-GAAP financial information to evaluate our ongoing operations, as a component in determining employee bonus compensation, and for internal planning and forecasting purposes. We believe that non-GAAP financial information, when taken collectively, may be helpful to investors because it provides consistency and comparability with past financial performance. However, non-GAAP financial information is presented for supplemental informational purposes only, has limitations as an analytical tool and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP. In addition, other companies, including companies in our industry, may calculate similarly-titled non-GAAP financial measures differently or may use other measures to evaluate their performance. A reconciliation is provided below for each non-GAAP financial measure to the most directly comparable financial measure stated in accordance with GAAP. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures, and not to rely on any single financial measure to evaluate our business. Adjusted Gross Profit and Adjusted Gross Margin Adjusted Gross Profit is a non-GAAP financial measure that we define as revenue less cost of revenue, excluding depreciation and amortization, adding back stock-based compensation, acquisition-related costs, net, and restructuring costs as applicable. We define Adjusted Gross Margin as our Adjusted Gross Profit divided by our revenue. We believe Adjusted Gross Profit and Adjusted Gross Margin are useful to investors as they eliminate the impact of certain non-cash expenses and certain other non-recurring operating expenses, and allow a direct comparison of these measures between periods without the impact of non-cash expenses and certain other non-recurring operating expenses. The following is a reconciliation of our Adjusted Gross Profit and Adjusted Gross Margin, in total and for technology and professional services, to gross profit and gross margin, the most directly comparable financial measures calculated in accordance with GAAP, for the three and twelve months ended December 31, 2024 and 2023: Three Months Ended December 31, 2024 (in thousands, except percentages) Technology Professional Services Total Revenue Cost of revenue, excluding depreciation and amortization Amortization of intangible assets, cost of revenue — Depreciation of property and equipment, cost of revenue — Gross profit Gross margin Add: Amortization of intangible assets, cost of revenue — Depreciation of property and equipment, cost of revenue — Stock-based compensation Acquisition-related costs, net
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  Publisher Name	The Community Post (#5559)
  Publisher URL	http://business.minstercommunitypost.com
  Description	None
  Trust Flow Score	0
  Citation Flow Score	20

• Data Source

  Data Source Name	Quantexa News (#5)
  Data Source Type	news
  Data Source URL	https://app.aylien.com/dashboard
  Description	Welcome to Quantexa News API — the most powerful way to aggregate, filter, and integrate global news data into your apps and models.
  Weight	10