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Health Catalyst, Inc. (HCAT) SEC Filing 10-Q Quarterly Report for the period ending Friday, March 31, 2023

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Health Catalyst, Inc.

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CIK: 1636422 Ticker: HCAT

Exhibit 99.1
healthcatalystlogo1aa.jpg

Health Catalyst Reports First Quarter 2023 Results


SALT LAKE CITY, UT, May 9, 2023
 — 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 ended March 31, 2023.

“In the first quarter of 2023, I am pleased to share that we achieved strong performance across our business, including exceeding the mid-point of our quarterly guidance for both revenue and Adjusted EBITDA. This financial performance demonstrates our ability to continue to scale our business as we drive toward our long-term profitability goals,” said Dan Burton, CEO of Health Catalyst. “Additionally, I am excited to announce a meaningful expansion of our tech-enabled managed services partnership with our longest-standing client, Allina Health. This expansion, which includes more chart abstraction responsibility, increases Allina’s recurring revenue to now be approximately $11 million per year. We continue to appreciate Allina’s multi-faceted partnership and trust in Health Catalyst since the beginning of our relationship with them nearly 15 years ago, and we are encouraged to see other potential areas of expansion with them in the future.”


Financial Highlights for the Three Months Ended March 31, 2023

Key Financial Metrics
Three Months Ended March 31,Year over Year Change
20232022
GAAP Financial Data:(in thousands, except percentages, unaudited)
Technology revenue$47,186 $42,230 12%
Professional services revenue$26,682 $25,857 3%
Total revenue$73,868 $68,087 8%
Loss from operations$(34,914)$(24,347)(43)%
Net loss$(33,190)$(22,458)(48)%
Other Non-GAAP Financial Data:(1)
Adjusted Technology Gross Profit$32,958 $29,598 11%
Adjusted Technology Gross Margin70 %70 %
Adjusted Professional Services Gross Profit$5,414 $7,574 (29)%
Adjusted Professional Services Gross Margin20 %29 %
Total Adjusted Gross Profit$38,372 $37,172 3%
Total Adjusted Gross Margin52 %55 %
Adjusted EBITDA$4,164 $671 521%
___________________
(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.





The following information was filed by Health Catalyst, Inc. (HCAT) on Tuesday, May 9, 2023 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Health Catalyst, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Loss
Condensed Consolidated Statements Of Operations
Condensed Consolidated Statements Of Stockholders' Equity
Accrued Liabilities
Accrued Liabilities (Details)
Accrued Liabilities (Tables)
Business Combinations
Business Combinations (Tables)
Business Combinations - Narrative (Details)
Business Combinations - Schedule Of Recognized Assets Acquired And Liabilities Assumed (Details)
Commitments And Contingencies
Convertible Senior Notes
Convertible Senior Notes (Tables)
Convertible Senior Notes - Interest Expense (Details)
Convertible Senior Notes - Narrative (Details)
Convertible Senior Notes - Net Carrying Value Of The Liability (Details)
Deferred Revenue And Performance Obligations
Deferred Revenue And Performance Obligations - Narrative (Details)
Deferred Revenue And Performance Obligations - Remaining Performance Obligation (Details)
Description Of Business And Summary Of Significant Accounting Policies
Description Of Business And Summary Of Significant Accounting Policies (Policies)
Description Of Business And Summary Of Significant Accounting Policies (Tables)
Description Of Business And Summary Of Significant Accounting Policies - Allowance For Credit Losses (Details)
Description Of Business And Summary Of Significant Accounting Policies - Narrative (Details)
Description Of Business And Summary Of Significant Accounting Policies - Schedule Of Intangible Assets Useful Life (Details)
Description Of Business And Summary Of Significant Accounting Policies - Schedule Of Property And Equipment Useful Life (Details)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (Tables)
Fair Value Of Financial Instruments - Narrative (Details)
Fair Value Of Financial Instruments - Schedule Of Fair Value Of Financial Instruments (Details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Narrative (Details)
Goodwill And Intangible Assets - Schedule Of Goodwill By Reporting Unit (Details)
Goodwill And Intangible Assets - Schedule Of Intangible Assets (Details)
Income Taxes
Income Taxes (Details)
Net Loss Per Share
Net Loss Per Share (Tables)
Net Loss Per Share - Schedule Of Share Totals With A Potentially Dilutive Impact (Details)
Net Loss Per Share - Schedule Of The Calculation Of Basic And Diluted Net Loss Per Share Attributable To Common Stockholders (Details)
Property And Equipment
Property And Equipment (Tables)
Property And Equipment - Components Of Property And Equipment (Details)
Property And Equipment - Narrative (Details)
Related Parties
Restructuring Costs
Restructuring Costs (Tables)
Restructuring Costs - Schedule Of Restructuring Costs (Details)
Restructuring Costs - Schedule Of Restructuring-Related Charges And Related Liability (Details)
Revenue
Revenue (Tables)
Revenue - Narrative (Details)
Revenue - Schedule Of Revenue Disaggregated By Type Of Arrangement (Details)
Segments
Segments (Tables)
Segments - Narrative (Details)
Segments - Schedule Of Segment Adjusted Gross Profit (Details)
Segments - Scheduled Of Segment Revenue (Details)
Short-Term Investments
Short-Term Investments (Tables)
Short-Term Investments - Cash Equivalents And Short-Term Investments (Details)
Short-Term Investments - Narrative (Details)
Short-Term Investments - Short-Term Investments (Details)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Effect Of Stock-Based Compensation Expense On Statement Of Operations (Details)
Stock-Based Compensation - Narrative (Details)
Stock-Based Compensation - Restricted Stock Unit And Performance-Based Restricted Stock Units Activity (Details)
Stock-Based Compensation - Schedule Of The Performance-Based Restricted Stock Units Assumptions (Details)
Stock-Based Compensation - Schedule Of The Purchase Right For The Espp Option Assumptions (Details)
Stock-Based Compensation - Stock Option Activity (Details)
Stockholders??? Equity
Stockholders??? Equity (Details)
Ticker: HCAT
CIK: 1636422
Form Type: 10-Q Quarterly Report
Accession Number: 0001636422-23-000058
Submitted to the SEC: Tue May 09 2023 9:18:11 PM EST
Accepted by the SEC: Wed May 10 2023
Period: Friday, March 31, 2023
Industry: Computer Programming Data Processing

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