Short answer
Health Catalyst, Inc. (HCAT) filed its Q2 2026 10-Q quarterly report on Aug 6, 2026 for the quarter ended Jun 30, 2026. Quarterly revenue was $70M (down 12.7% year over year) with net income of −$41M.
Q2 2026 key financials · XBRL
- Revenue
- $70M
- −12.7% YoY · −0.4% QoQ
- Net income
- −$41M
- +1.1% YoY · +63.5% QoQ
- Operating margin
- -51.8%
- EPS (diluted)
- −$0.54
- +8.5% YoY · +64.7% QoQ
Source: XBRL data from the Health Catalyst, Inc. (HCAT) Q2 2026 10-Q on SEC EDGAR. USD.
Health Catalyst, Inc. Q2 2026 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Quarterly revenue $70.5M, down from $80.7M YoY, driven by TEMS exits and DOS-to-Ignite churn
- Gross margin 40% vs 38% YoY; Adjusted EBITDA $9.9M vs $9.3M
- Best segment professional services revenue $21.7M, gross margin 20% vs 13%; technology revenue $48.8M, margin 48% vs 50%
- Vitalware sale generated $147M base proceeds, used with cash on hand to repay all Credit Agreement obligations
- Near-term headwinds: technology and total Adjusted Gross Margins expected to decline amid Vitalware transaction and Ignite/Ninja Universe migration costs
Risk Factors
- Project Nexus workforce reduction approximately 7% by second quarter 2026, risking operational disruption and employee attrition
- Health Catalyst Ignite migration causing client churn, downsells, and smaller bookings amid healthcare funding cuts
- Evolving tariff landscape and potential Medicaid and research-funding reductions delaying client purchasing decisions
- Vitalware Transaction reducing high-margin revenue, with expected pressure on total revenue and Adjusted EBITDA
- Platform-client sales cycles typically approximately one year, sometimes exceeding two years, delaying revenue generation
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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