Health Catalyst (HCAT) Gross Margin (2018 - 2026)
Health Catalyst (HCAT) posted Gross Margin of 50.12% for Q1 2026, down 4.96% on a QoQ basis from 52.74% in Q4 2025, and up 449.0% year-over-year from 9.13% in Q1 2025.
Health Catalyst (HCAT) Gross Margin (2018 - 2026) Analysis & Trends
Health Catalyst's Gross Margin history runs 9 years deep, the most recent figure standing at 50.12% for Q1 2026.
- Quarterly Gross Margin rose 449.0% year-over-year to 50.12% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 49.89% (up 465.0% YoY) and the FY2025 annual result came in at 48.75%, up 283.0% from the prior year.
- Gross Margin was 50.12% for Q1 2026 at Health Catalyst, down from 52.74% in the prior quarter.
- Across five years, Gross Margin topped out at 52.74% in Q4 2025 and bottomed at 40.63% in Q4 2023.
- A 5-year average of 47.08% and a median of 47.22% in 2024 frame the typical range for Gross Margin.
- Annual changes were most pronounced in 2023 — Gross Margin slumped 487 bps — and 2025, when it jumped 916 bps.
- Health Catalyst's Gross Margin stood at 44.9% in 2022, then slipped by 10 bps to 40.63% in 2023, then gained by 7 bps to 43.58% in 2024, then climbed by 21 bps to 52.74% in 2025, then dropped by 5 bps to 50.12% in 2026.
- Business Quant data shows HCAT's Gross Margin at 50.12% in Q1 2026, 52.74% in Q4 2025, and 49.55% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 29.34 Bn | 22.03 Bn | 662.02 Mn | 74.98% |
| 2 | BrightSpring Health Services | 13.49 Bn | 12.59 Bn | 482.22 Mn | 13.34% |
| 3 | Healthequity | 7.96 Bn | 7.70 Bn | 256.31 Mn | 72.27% |
| 4 | 10x Genomics | 6.17 Bn | 5.63 Bn | 106.18 Mn | 70.39% |
| 5 | Hinge Health | 6.02 Bn | 5.70 Bn | 154.23 Mn | 84.60% |
| 6 | MiniMed | 4.19 Bn | 3.89 Bn | 480.00 Mn | 57.35% |
| 7 | Waystar Holding | 4.14 Bn | 4.07 Bn | 216.84 Mn | 69.08% |
| 8 | Doximity | 3.82 Bn | 3.08 Bn | 125.97 Mn | 86.65% |
| 9 | Privia Health | 3.10 Bn | 2.73 Bn | - | - |
| 10 | Health Catalyst | 145.91 Mn | 37.09 Mn | 35.46 Mn | 50.12% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 50.12% |
| Dec 31, 2025 | 52.74% |
| Sep 30, 2025 | 49.55% |
| Jun 30, 2025 | 47.37% |
| Mar 31, 2025 | 45.63% |
| Dec 31, 2024 | 43.58% |
| Sep 30, 2024 | 44.58% |
| Jun 30, 2024 | 47.22% |
| Mar 31, 2024 | 48.45% |
| Dec 31, 2023 | 40.63% |
| Sep 30, 2023 | 43.36% |
| Jun 30, 2023 | 46.13% |
| Mar 31, 2023 | 48.15% |
| Dec 31, 2022 | 44.90% |
| Sep 30, 2022 | 46.84% |
| Jun 30, 2022 | 51.00% |
| Mar 31, 2022 | 50.07% |
| Dec 31, 2021 | 47.65% |
| Sep 30, 2021 | 46.41% |
| Jun 30, 2021 | 49.60% |