Health Catalyst (HCAT) Cost of Revenue (2018 - 2026)
Health Catalyst (HCAT) posted Cost of Revenue of $35.3 million for Q1 2026, little changed on a QoQ basis from $35.3 million in Q4 2025, and down 18.26% year-over-year from $43.2 million in Q1 2025.
Health Catalyst (HCAT) Cost of Revenue (2018 - 2026) Analysis & Trends
Health Catalyst's Cost of Revenue history runs 9 years deep, the most recent figure standing at $35.3 million for Q1 2026.
- Quarterly Cost of Revenue fell 18.26% year-over-year to $35.3 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $151.6 million (down 11.08% YoY) and the FY2025 annual result came in at $159.5 million, down 3.83% from the prior year.
- Cost of Revenue was $35.3 million for Q1 2026 at Health Catalyst, roughly flat from $35.3 million in the prior quarter.
- Across five years, Cost of Revenue topped out at $44.9 million in Q4 2024 and bottomed at $34.0 million in Q1 2022.
- A 5-year average of $39.3 million and a median of $38.5 million in 2024 frame the typical range for Cost of Revenue.
- Annual changes were most pronounced in 2022 — Cost of Revenue rose 24.35% — and 2025, when it declined 21.42%.
- Health Catalyst's Cost of Revenue stood at $38.1 million in 2022, then rose by 16.98% to $44.6 million in 2023, then grew by 0.76% to $44.9 million in 2024, then retreated by 21.42% to $35.3 million in 2025, then slipped by 0.01% to $35.3 million in 2026.
- Business Quant data shows HCAT's Cost of Revenue at $35.3 million in Q1 2026, $35.3 million in Q4 2025, and $38.5 million in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 31.81 Bn | 24.49 Bn | 662.02 Mn | 220.92 Mn |
| 2 | BrightSpring Health Services | 14.76 Bn | 13.86 Bn | 482.22 Mn | 260.92 Mn |
| 3 | Healthequity | 8.36 Bn | 8.10 Bn | 256.31 Mn | 98.33 Mn |
| 4 | Hinge Health | 5.91 Bn | 5.60 Bn | 154.23 Mn | 28.07 Mn |
| 5 | 10x Genomics | 5.89 Bn | 5.35 Bn | 106.18 Mn | 44.67 Mn |
| 6 | MiniMed | 4.45 Bn | 4.16 Bn | 480.00 Mn | 357.00 Mn |
| 7 | Waystar Holding | 4.41 Bn | 4.35 Bn | 216.84 Mn | 97.04 Mn |
| 8 | Doximity | 3.93 Bn | 3.18 Bn | 125.97 Mn | 19.41 Mn |
| 9 | Privia Health | 3.10 Bn | 2.68 Bn | - | - |
| 10 | Health Catalyst | 155.71 Mn | 46.89 Mn | 35.46 Mn | 35.29 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 35.29 Mn |
| Mar 31, 2026 | 35.29 Mn |
| Dec 31, 2025 | 35.30 Mn |
| Dec 31, 2025 | 35.30 Mn |
| Sep 30, 2025 | 38.51 Mn |
| Sep 30, 2025 | 38.51 Mn |
| Jun 30, 2025 | 42.48 Mn |
| Jun 30, 2025 | 42.48 Mn |
| Mar 31, 2025 | 43.18 Mn |
| Mar 31, 2025 | 43.18 Mn |
| Dec 31, 2024 | 44.92 Mn |
| Dec 31, 2024 | 44.92 Mn |
| Sep 30, 2024 | 42.31 Mn |
| Sep 30, 2024 | 42.31 Mn |
| Jun 30, 2024 | 40.06 Mn |
| Jun 30, 2024 | 40.06 Mn |
| Mar 31, 2024 | 38.52 Mn |
| Mar 31, 2024 | 38.52 Mn |
| Dec 31, 2023 | 44.58 Mn |
| Dec 31, 2023 | 44.58 Mn |