Health Catalyst (HCAT) Gross Margin (2018 - 2026)
Health Catalyst (HCAT) reported Gross Margin of 50.12% for Q1 2026, up 449.0% on a YoY basis from 9.13% in Q1 2025, and down 4.96% quarter-over-quarter from 52.74% in Q4 2025.
Health Catalyst (HCAT) Gross Margin (2018 - 2026) Analysis & Trends
Health Catalyst has reported Gross Margin for 9 years, with the latest figure at 50.12% in Q1 2026.
- For the quarter ending Q1 2026, Gross Margin rose 449.0% year-over-year to 50.12%; the trailing twelve-month figure through Mar 2026 stood at 67.55% (up 2231.0% YoY), and the FY2025 full-year result was 48.75%, up 283.0% from the prior year.
- Gross Margin for Q1 2026 stood at 50.12%, down from 52.74% in the prior quarter.
- The five-year high for Gross Margin was 83.64% in Q2 2025, with the low at 51.9% in Q4 2023.
- Historically, Gross Margin has averaged 49.15% across 5 years, with a median of 52.74% in 2025.
- Annual changes were most pronounced in 2022 — Gross Margin tumbled 5741 bps — and 2024, when it surged 6117 bps.
- Health Catalyst's Gross Margin stood at 9.75% in 2022, then slumped by 432 bps to 51.9% in 2023, then surged by 118 bps to 9.27% in 2024, then jumped by 469 bps to 52.74% in 2025, then decreased by 5 bps to 50.12% in 2026.
- The last three Gross Margin figures came in at 50.12% (Q1 2026), 52.74% (Q4 2025), and 81.18% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 24.83 Bn | 17.52 Bn | 662.02 Mn | 74.98% |
| 2 | BrightSpring Health Services | 13.57 Bn | 12.69 Bn | 482.22 Mn | 13.34% |
| 3 | Healthequity | 7.20 Bn | 6.93 Bn | 256.31 Mn | 72.27% |
| 4 | Hinge Health | 5.42 Bn | 5.11 Bn | 154.23 Mn | 84.60% |
| 5 | 10x Genomics | 4.46 Bn | 3.92 Bn | 106.18 Mn | 70.39% |
| 6 | Doximity | 3.81 Bn | 3.06 Bn | 125.97 Mn | 86.65% |
| 7 | Waystar Holding | 3.52 Bn | 3.36 Bn | 268.04 Mn | 85.40% |
| 8 | Privia Health | 2.94 Bn | 2.57 Bn | 595.71 Mn | 98.65% |
| 9 | Omnicell | 1.76 Bn | 1.59 Bn | 140.36 Mn | 45.30% |
| 10 | Health Catalyst | 125.95 Mn | 17.13 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 | 81.18% |
| Jun 30, 2025 | 83.64% |
| Mar 31, 2025 | 45.63% |
| Dec 31, 2024 | 9.27% |
| Sep 30, 2024 | 44.58% |
| Jun 30, 2024 | 83.21% |
| Mar 31, 2024 | 48.45% |
| Dec 31, 2023 | -51.90% |
| Sep 30, 2023 | 43.36% |
| Jun 30, 2023 | 77.60% |
| Mar 31, 2023 | 74.86% |
| Dec 31, 2022 | -9.75% |
| Sep 30, 2022 | 62.84% |
| Jun 30, 2022 | 70.38% |
| Mar 31, 2022 | 69.42% |
| Dec 31, 2021 | 47.65% |
| Sep 30, 2021 | 66.30% |
| Jun 30, 2021 | 71.98% |