Health Catalyst (HCAT) Research & Development (2018 - 2026)
Health Catalyst's Research & Development was $11.03 million in Q2 2026, down 11.0% from $12.39 million a year earlier but up 12.8% from the prior quarter.
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Analysis
Health Catalyst (HCAT) Research & Development (2018 - 2026) Analysis & Trends
On a trailing twelve-month basis, Health Catalyst's Research & Development was $43 million through Jun 30, 2026, down 24.3% year-over-year; for FY2025, it came in at $49.77 million, down 14.1% from FY2024.
- Research & Development has now declined for three consecutive years, with a five-year compound annual growth rate of -1.4% (FY2020 to FY2025).
- In earlier years, Research & Development was $57.95 million in FY2024 (-20.2%), $72.63 million in FY2023 (-4.0%), $75.68 million in FY2022 (+20.6%) and $62.73 million in FY2021 (+17.2%).
- Quarterly Research & Development has moved between $9.78 million (Q1 2026) and $20.77 million (Q3 2022) over five years.
- Compared with a year earlier, Research & Development has declined for five straight quarters, with an average decline of 18.5% over the last eight quarters.
- The best year-over-year quarter for Research & Development over five years was Q3 2022 (growth of 26.8%); the worst was Q1 2026 (a decline of 35.6%).
- Per Business Quant data, HCAT's Research & Development in the three quarters before Q2 2026 was $9.78 million (Q1 2026), $9.91 million (Q4 2025) and $12.28 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Bryn | 945.00 Bn | 945.00 Bn | - | - |
| 2 | Veeva Systems | 45.35 Bn | 17.59 Bn | 695.95 Mn | 222.92 Mn |
| 3 | Samsara | 22.20 Bn | 18.97 Bn | 392.58 Mn | 102.56 Mn |
| 4 | Toast | 17.53 Bn | 10.20 Bn | 516.00 Mn | 109.00 Mn |
| 5 | Ptc | 15.47 Bn | 14.28 Bn | 490.47 Mn | 115.71 Mn |
| 6 | Trimble | 13.41 Bn | 12.48 Bn | 674.90 Mn | 177.10 Mn |
| 7 | Duolingo | 12.56 Bn | 7.73 Bn | 216.74 Mn | 92.20 Mn |
| 8 | Manhattan Associates | 11.77 Bn | 10.77 Bn | 168.33 Mn | 34.77 Mn |
| 9 | Costar | 10.95 Bn | 4.91 Bn | 728.00 Mn | 107.00 Mn |
| 10 | Health Catalyst | 132.23 Mn | -267.31 Mn | 34.86 Mn | 11.03 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 11.03 Mn |
| Mar 31, 2026 | 9.78 Mn |
| Dec 31, 2025 | 9.91 Mn |
| Sep 30, 2025 | 12.28 Mn |
| Jun 30, 2025 | 12.39 Mn |
| Mar 31, 2025 | 15.19 Mn |
| Dec 31, 2024 | 15.00 Mn |
| Sep 30, 2024 | 14.19 Mn |
| Jun 30, 2024 | 13.88 Mn |
| Mar 31, 2024 | 14.87 Mn |
| Dec 31, 2023 | 20.29 Mn |
| Sep 30, 2023 | 17.67 Mn |
| Jun 30, 2023 | 17.59 Mn |
| Mar 31, 2023 | 17.08 Mn |
| Dec 31, 2022 | 19.61 Mn |
| Sep 30, 2022 | 20.77 Mn |
| Jun 30, 2022 | 18.15 Mn |
| Mar 31, 2022 | 17.15 Mn |
| Dec 31, 2021 | 17.48 Mn |
| Sep 30, 2021 | 16.39 Mn |
API Access
Health Catalyst Research & Development 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=research-and-development&ticker=HCAT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "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=research-and-development&ticker=HCAT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();