Health Catalyst (HCAT) Net Margin (2018 - 2026)
Health Catalyst's (HCAT) quarterly Net Margin came in at 156.91% in Q1 2026, down 12702.0% YoY from N/an in Q1 2025, and down 28.74% on a QoQ basis from 121.89% in Q4 2025.
Health Catalyst (HCAT) Net Margin (2018 - 2026) Analysis & Trends
Health Catalyst (HCAT) has 9 years of Net Margin data on file, last reported at 156.91% in Q1 2026.
- Quarterly Net Margin fell 12702.0% year-over-year to 156.91% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 87.69% (down 6435.0% YoY) and the FY2025 annual result came in at 57.2%, down 3453.0% from the prior year.
- Net Margin slipped to 156.91% in Q1 2026, from 121.89% in the prior quarter.
- In the past five years, Net Margin ranged from a high of 17.81% in Q2 2024 to a low of 156.91% in Q1 2026.
- A 5-year average of 49.28% and a median of 40.37% in 2023 frame the typical range for Net Margin.
- Annual changes were most pronounced in 2023 — Net Margin jumped 3704 bps — and 2026, when it plunged 12702 bps.
- Tracing HCAT's Net Margin over 5 years: stood at 51.68% in 2022, then increased by 22 bps to 40.37% in 2023, then jumped by 36 bps to 25.97% in 2024, then slumped by 369 bps to 121.89% in 2025, then decreased by 29 bps to 156.91% in 2026.
- The last three Net Margin figures came in at 156.91% (Q1 2026), 121.89% (Q4 2025), and 29.12% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 39.72 Bn | 32.40 Bn | 662.02 Mn | 29.55% |
| 2 | BrightSpring Health Services | 12.19 Bn | 11.64 Bn | 492.75 Mn | 2.18% |
| 3 | Healthequity | 8.79 Bn | 8.52 Bn | 256.31 Mn | 19.57% |
| 4 | 10x Genomics | 7.31 Bn | 6.76 Bn | 112.50 Mn | -11.87% |
| 5 | Hinge Health | 7.10 Bn | 6.71 Bn | 183.95 Mn | 20.25% |
| 6 | MiniMed | 5.66 Bn | 5.36 Bn | 480.00 Mn | -22.10% |
| 7 | Waystar Holding | 4.76 Bn | 4.56 Bn | 221.99 Mn | 12.78% |
| 8 | Doximity | 4.46 Bn | 3.77 Bn | 132.93 Mn | 15.53% |
| 9 | Heartflow | 3.66 Bn | 3.28 Bn | 53.19 Mn | -24.57% |
| 10 | Health Catalyst | 138.20 Mn | 34.76 Mn | 34.86 Mn | -57.51% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | -57.51% |
| Mar 31, 2026 | -156.91% |
| Dec 31, 2025 | -121.89% |
| Sep 30, 2025 | -29.12% |
| Jun 30, 2025 | -50.76% |
| Mar 31, 2025 | -29.90% |
| Dec 31, 2024 | -25.97% |
| Sep 30, 2024 | -19.29% |
| Jun 30, 2024 | -17.81% |
| Mar 31, 2024 | -27.55% |
| Dec 31, 2023 | -40.37% |
| Sep 30, 2023 | -29.86% |
| Jun 30, 2023 | -44.55% |
| Mar 31, 2023 | -44.93% |
| Dec 31, 2022 | -51.68% |
| Sep 30, 2022 | -66.91% |
| Jun 30, 2022 | -47.33% |
| Mar 31, 2022 | -32.91% |
| Dec 31, 2021 | -75.63% |
| Sep 30, 2021 | -64.81% |