Health Catalyst (HCAT) Operating Margin (2018 - 2026)
Health Catalyst (HCAT) posted Operating Margin of -51.75% for Q2 2026, down 5.80 percentage points from -45.95% a year earlier but up 98.73 percentage points from the prior quarter.
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Analysis
Health Catalyst (HCAT) Operating Margin (2018 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Operating Margin at Health Catalyst was -84.36%, down 56.38 percentage points year-over-year; for FY2025, it was -51.70%, down 28.93 percentage points from FY2024.
- Annual Operating Margin shows a five-year change of -0.80 percentage points (FY2020 to FY2025).
- In prior years, Health Catalyst's Operating Margin was -22.77% in FY2024 (+20.11 pp), -42.88% in FY2023 (+7.80 pp), -50.68% in FY2022 (+8.69 pp) and -59.38% in FY2021 (-8.48 pp).
- Quarterly Operating Margin has run from a low of -150.48% in Q1 2026 to a high of -17.93% in Q3 2024 over five years.
- On a year-over-year basis, Operating Margin has declined in each of the last five quarters, with an average year-over-year change of -26.51 percentage points over the last eight quarters.
- The strongest year-over-year quarter for Operating Margin in the past five years was Q3 2023, with a gain of 33.57 percentage points; the weakest was Q1 2026, with a drop of 125.08 percentage points.
- According to Business Quant data, Operating Margin for the three prior quarters was -150.48% (Q1 2026), -115.27% (Q4 2025) and -22.94% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Bryn | 945.00 Bn | 945.00 Bn | - | - |
| 2 | Veeva Systems | 45.35 Bn | 17.59 Bn | 695.95 Mn | 29.64% |
| 3 | Samsara | 22.20 Bn | 18.97 Bn | 392.58 Mn | 0.96% |
| 4 | Toast | 17.53 Bn | 10.20 Bn | 516.00 Mn | 7.97% |
| 5 | Ptc | 15.47 Bn | 14.28 Bn | 490.47 Mn | 27.75% |
| 6 | Trimble | 13.41 Bn | 12.48 Bn | 674.90 Mn | 13.58% |
| 7 | Duolingo | 12.56 Bn | 7.73 Bn | 216.74 Mn | 11.37% |
| 8 | Manhattan Associates | 11.77 Bn | 10.77 Bn | 168.33 Mn | 22.24% |
| 9 | Costar | 10.95 Bn | 4.91 Bn | 728.00 Mn | 8.22% |
| 10 | Health Catalyst | 132.23 Mn | -267.31 Mn | 34.86 Mn | -51.75% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -51.75% |
| 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% |
API Access
Health Catalyst Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=HCAT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "HCAT", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=HCAT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();