Health Catalyst (HCAT) Operating Margin (2018 - 2026)
Health Catalyst posted quarterly Operating Margin of 150.48% for Q1 2026, down 12508.0% year-on-year from N/an in Q1 2025, and down 30.55% on a QoQ basis from 115.27% in Q4 2025.
Health Catalyst (HCAT) has 9 years of Operating Margin data on file, last reported at 150.48% in Q1 2026.
- For the quarter ending Q1 2026, Operating Margin fell 12508.0% year-over-year to 150.48%; the trailing twelve-month figure through Mar 2026 stood at 81.71% (down 6013.0% YoY), and the FY2025 full-year result was 51.7%, down 2893.0% from the prior year.
- Operating Margin for Q1 2026 stood at 150.48%, down from 115.27% in the prior quarter.
- Across five years, Operating Margin topped out at 17.93% in Q3 2024 and bottomed at 150.48% in Q1 2026.
- The 5-year median for Operating Margin is 43.66% (2023), against an average of 48.57%.
- The widest annual swing landed in 2023, when Operating Margin surged 3357 bps; it then tumbled 12508 bps in 2026.
- A 5-year view of Operating Margin shows it stood at 53.13% in 2022, then advanced by 18 bps to 43.66% in 2023, then surged by 50 bps to 21.98% in 2024, then plunged by 424 bps to 115.27% in 2025, then plunged by 31 bps to 150.48% in 2026.
- The last three Operating Margin figures came in at 150.48% (Q1 2026), 115.27% (Q4 2025), and 22.94% (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 30.85 Bn | 24.28 Bn | 622.47 Mn | 29.41% |
| 2 | BrightSpring Health Services | 12.29 Bn | 11.41 Bn | 482.22 Mn | 3.36% |
| 3 | Healthequity | 7.80 Bn | 7.48 Bn | 256.31 Mn | 29.03% |
| 4 | Hinge Health | 4.82 Bn | 4.51 Bn | 154.23 Mn | 17.59% |
| 5 | Doximity | 4.21 Bn | 3.46 Bn | 125.97 Mn | 17.08% |
| 6 | Waystar Holding | 4.18 Bn | 4.03 Bn | 268.04 Mn | 25.64% |
| 7 | 10x Genomics | 3.78 Bn | 3.24 Bn | 106.18 Mn | -11.30% |
| 8 | Privia Health | 2.65 Bn | 2.28 Bn | 595.71 Mn | 1.23% |
| 9 | Omnicell | 1.95 Bn | 1.78 Bn | 140.36 Mn | 5.44% |
| 10 | Health Catalyst | 98.36 Mn | -10.46 Mn | 35.46 Mn | -150.48% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -150.48% |
| Dec 31, 2025 | -115.27% |
| Sep 30, 2025 | -22.94% |
| Jun 30, 2025 | -45.95% |
| Mar 31, 2025 | -25.40% |
| Dec 31, 2024 | -21.98% |
| Sep 30, 2024 | -17.93% |
| Jun 30, 2024 | -20.83% |
| Mar 31, 2024 | -30.53% |
| Dec 31, 2023 | -43.66% |
| Sep 30, 2023 | -33.32% |
| Jun 30, 2023 | -47.28% |
| Mar 31, 2023 | -47.27% |
| Dec 31, 2022 | -53.13% |
| Sep 30, 2022 | -66.89% |
| Jun 30, 2022 | -46.99% |
| Mar 31, 2022 | -35.76% |
| Dec 31, 2021 | -69.17% |
| Sep 30, 2021 | -68.43% |
| Jun 30, 2021 | -54.20% |
| Mar 31, 2021 | -43.54% |
| Dec 31, 2020 | -73.05% |
| Sep 30, 2020 | -49.71% |
| Jun 30, 2020 | -36.15% |
| Mar 31, 2020 | -40.13% |
| Dec 31, 2019 | -31.43% |
| Sep 30, 2019 | -52.60% |
| Jun 30, 2019 | -25.44% |
| Mar 31, 2019 | -31.51% |
| Dec 31, 2018 | -35.84% |
| Sep 30, 2018 | -50.19% |
| Jun 30, 2018 | -81.82% |