Health Catalyst reported strong Q3 results, exceeding revenue and EBITDA expectations and maintaining positive bookings trends. The company made strategic expansions and acquisitions, indicating solid growth potential. However, there were challenges with technology and professional services gross margins, and extended timelines for revenue recognition from certain contracts. The overall sentiment is cautiously optimistic with a focus on strategic growth.

Company Guidance

During the Health Catalyst Q3 2024 earnings call, the company provided updated guidance and key metrics for the remainder of 2024 and into 2025. For the full year 2024, Health Catalyst now anticipates revenue between $305 million and $311 million, with an adjusted EBITDA expectation of $25 million to $27 million. The company highlighted its Q3 2024 financial performance, reporting total revenue of $76.4 million and adjusted EBITDA of $7.3 million, both exceeding previous guidance midpoints. Health Catalyst also reiterated its full-year 2024 bookings expectations, aiming for net new platform subscription client additions in the low 20s and a dollar-based retention rate of 100% to 106%. Looking ahead to 2025, the company projects a return to double-digit revenue growth and approximately 50% growth in adjusted EBITDA compared to 2024, driven by strong demand, client expansions, and strategic acquisitions, including the acquisition of Enterprise Health for $43 million.

Exceeding Revenue and EBITDA Expectations

Health Catalyst reported total revenue of $76.4 million and adjusted EBITDA of $7.3 million for Q3 2024, both exceeding the midpoint of their previous guidance.

Bookings and Client Expansion

Health Catalyst reiterated its full year 2024 bookings expectations, including net new platform subscription client additions in the low 20s and a dollar-based retention rate between 100% and 106%.

Cost Savings and Client Success

A case study with Guy's and St. Thomas' NHS Foundation Trust resulted in over $8.5 million in cost savings by leveraging Health Catalyst's data platform.

Positive Industry Recognition

Health Catalyst received several accolades, including being named one of the best workplaces in healthcare by Fortune and Utah Business Magazine's healthcare hero award.

Strategic Acquisition

Health Catalyst announced the acquisition of Enterprise Health, a tech-enabled cybersecurity provider, for $43 million to enhance their cybersecurity offerings.

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Health Catalyst (HCAT) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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HCAT Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Mar 04, 2025	2024 (Q4)	0.07 / -	0.02	―	―	―
Nov 06, 2024	2024 (Q3)	0.10 / 0.07	0.03	133.33% (+0.04)	―
Aug 07, 2024	2024 (Q2)	0.08 / 0.12	0.05	140.00% (+0.07)	―
May 09, 2024	2024 (Q1)	0.03 / 0.05	0.05	0.00% (0.00)	―
Feb 22, 2024	2023 (Q4)	0.01 / 0.02	-0.05	140.00% (+0.07)	―
Nov 02, 2023	2023 (Q3)	>-0.01 / 0.03	-0.13	123.08% (+0.16)	―
Aug 08, 2023	2023 (Q2)	-0.01 / 0.05	-0.03	266.67% (+0.08)	―
May 09, 2023	2023 (Q1)	-0.04 / 0.05	-0.06	183.33% (+0.11)	―
Feb 28, 2023	2022 (Q4)	-0.11 / -0.05	-0.19	73.68% (+0.14)	―
Nov 08, 2022	2022 (Q3)	-0.19 / -0.13	-0.18	27.78% (+0.05)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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HCAT Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 06, 2024	$8.25	$8.86	+7.39%
Aug 07, 2024	$5.48	$7.55	+37.77%
May 09, 2024	$6.67	$6.41	-3.90%
Feb 22, 2024	$8.47	$7.78	-8.15%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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