Health Catalyst (HCAT) Net Margin (2018 - 2026)
Health Catalyst (HCAT) posted Net Margin of 156.91% for Q1 2026, down 28.74% on a QoQ basis from 121.89% in Q4 2025, and down 12702.0% year-over-year from N/an in Q1 2025.
Health Catalyst (HCAT) Net Margin (2018 - 2026) Analysis & Trends
Health Catalyst's Net Margin history runs 9 years deep, the most recent figure standing at 156.91% for 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 was 156.91% for Q1 2026 at Health Catalyst, down from 121.89% in the prior quarter.
- Across five years, Net Margin topped out at 17.81% in Q2 2024 and bottomed at 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 tumbled 12702 bps.
- Health Catalyst's Net Margin stood at 51.68% in 2022, then gained by 22 bps to 40.37% in 2023, then soared by 36 bps to 25.97% in 2024, then plunged by 369 bps to 121.89% in 2025, then dropped by 29 bps to 156.91% in 2026.
- Business Quant data shows HCAT's Net Margin at 156.91% in Q1 2026, 121.89% in Q4 2025, and 29.12% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 29.34 Bn | 22.03 Bn | 662.02 Mn | 29.55% |
| 2 | BrightSpring Health Services | 13.49 Bn | 12.59 Bn | 482.22 Mn | 4.12% |
| 3 | Healthequity | 7.96 Bn | 7.70 Bn | 256.31 Mn | 19.57% |
| 4 | 10x Genomics | 6.17 Bn | 5.63 Bn | 106.18 Mn | -8.93% |
| 5 | Hinge Health | 6.02 Bn | 5.70 Bn | 154.23 Mn | 18.66% |
| 6 | MiniMed | 4.19 Bn | 3.89 Bn | 480.00 Mn | -22.10% |
| 7 | Waystar Holding | 4.14 Bn | 4.07 Bn | 216.84 Mn | 13.79% |
| 8 | Doximity | 3.82 Bn | 3.08 Bn | 125.97 Mn | 13.15% |
| 9 | Privia Health | 3.10 Bn | 2.73 Bn | - | 0.61% |
| 10 | Health Catalyst | 145.91 Mn | 37.09 Mn | 35.46 Mn | -156.91% |
Historic Data
Download Data| Date | Value |
|---|---|
| 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% |
| Jun 30, 2021 | -60.10% |