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HCAT Health Catalyst

Health Catalyst is a leading provider of data and analytics technology and services to healthcare organizations committed to being the catalyst for massive, measurable, data-informed healthcare improvement. Its customers leverage the cloud-based data platform-powered by data from more than 100 million patient records and encompassing trillions of facts-as well as its analytics software and professional services expertise to make data-informed decisions and realize measurable clinical, financial, and operational improvements. Health Catalyst envisions a future in which all healthcare decisions are data informed.

Company profile

Ticker
HCAT
Exchange
CEO
Daniel D. Burton
Employees
Incorporated
Location
Fiscal year end
Former names
HQC Holdings, Inc.
SEC CIK
Subsidiaries
Medicity LLC • Health Catalyst UK Ltd • Health Catalyst Singapore Pte. Ltd. • Able Health, LLC • Healthfinch, LLC • Vitalware, LLC ...
IRS number
453337483

HCAT stock data

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Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

5 Aug 21
21 Oct 21
31 Dec 21
Quarter (USD)
Jun 21 Mar 21 Dec 20 Sep 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 205.1M 205.1M 205.1M 205.1M 205.1M 205.1M
Cash burn (monthly) (positive/no burn) (positive/no burn) 10.77M 9.92M 1.62M 1.38M
Cash used (since last report) n/a n/a 40.22M 37.03M 6.03M 5.17M
Cash remaining n/a n/a 164.88M 168.07M 199.07M 199.93M
Runway (months of cash) n/a n/a 15.3 16.9 123.3 144.4

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
5 Oct 21 Paul Horstmeier Common Stock Sell Dispose S No Yes 48.783 1,000 48.78K 108,441
5 Oct 21 Paul Horstmeier Common Stock Sell Dispose S No Yes 48.0173 9,750 468.17K 109,441
5 Oct 21 Paul Horstmeier Common Stock Option exercise Acquire M No No 15.84 10,750 170.28K 119,191
5 Oct 21 Paul Horstmeier Stock Option Common Stock Option exercise Dispose M No No 15.84 10,750 170.28K 58,091
4 Oct 21 Bryan Richard Hinton Common Stock Sell Dispose S No Yes 49 106 5.19K 18,750
4 Oct 21 Bryan Richard Hinton Common Stock Option exercise Acquire M No No 10.78 106 1.14K 18,856
4 Oct 21 Bryan Richard Hinton Stock Option Common Stock Option exercise Dispose M No No 10.78 106 1.14K 740
1 Oct 21 Linda Llewelyn Common Stock Sell Dispose S No Yes 49.2009 2,200 108.24K 34,548
1 Oct 21 Linda Llewelyn Common Stock Sell Dispose S No Yes 50.01 1,059 52.96K 36,748
1 Oct 21 Linda Llewelyn Common Stock Option exercise Acquire M No No 10.8 950 10.26K 37,807

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

13F holders
Current Prev Q Change
Total holders 197 188 +4.8%
Opened positions 29 37 -21.6%
Closed positions 20 18 +11.1%
Increased positions 93 67 +38.8%
Reduced positions 57 58 -1.7%
13F shares
Current Prev Q Change
Total value 2.68B 2.06B +30.5%
Total shares 48.17M 43.84M +9.9%
Total puts 86.8K 97.3K -10.8%
Total calls 550.6K 250.9K +119.4%
Total put/call ratio 0.2 0.4 -59.3%
Largest owners
Shares Value Change
FMR 6.63M $367.93M +37.4%
BLK Blackrock 4.52M $250.89M +78.8%
Vanguard 3.5M $194.41M +17.8%
Capital Research Global Investors 3.09M $171.48M +3.2%
Wellington Management 2.6M $144.39M -7.5%
Alliancebernstein 2.12M $117.95M +7.5%
Clearbridge Advisors 1.93M $107.34M -0.9%
JHG Janus Henderson 1.4M $77.96M -3.0%
Riverbridge Partners 1.08M $59.75M +5.0%
American Century Companies 1.07M $59.16M -6.9%
Largest transactions
Shares Bought/sold Change
BLK Blackrock 4.52M +1.99M +78.8%
FMR 6.63M +1.8M +37.4%
Marshall Wace 0 -544.17K EXIT
Vanguard 3.5M +530.29K +17.8%
Capital International Investors 0 -495.38K EXIT
BMO Bank of Montreal 286.87K +280.31K +4269.7%
Thrivent Financial For Lutherans 11.99K -214.13K -94.7%
Wellington Management 2.6M -209.85K -7.5%
First Light Asset Management 789.39K -207.81K -20.8%
Point72 Asset Management 196.19K +196.19K NEW

Financial report summary

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Risks
  • The global coronavirus (COVID-19) pandemic could harm our business, results of operations, and financial condition.
  • Our sales cycles can be long and unpredictable, and our sales efforts require a considerable investment of time and expense. If our sales cycle lengthens or we invest substantial resources pursuing unsuccessful sales opportunities, our results of operations and growth would be harmed.
  • If we are not able to maintain and enhance our reputation and brand recognition, our business and results of operations will be harmed.
  • If we do not continue to innovate and provide services that are useful to customers and users, we may not remain competitive, and our revenue and results of operations could suffer.
  • Our business could be adversely affected if our customers are not satisfied with our Solution.
  • If our existing customers do not continue or renew their contracts with us, renew at lower fee levels or decline to purchase additional technology and services from us, it could have a material adverse effect on our business, financial condition, and results of operations.
  • Our results of operations have in the past fluctuated and may continue to fluctuate significantly, and if we fail to meet the expectations of analysts or investors, our stock price and the value of an investment in our common stock could decline substantially.
  • Our pricing may change over time and our ability to efficiently price our Solution will affect our results of operations and our ability to attract or retain customers.
  • If our Solution fails to provide accurate and timely information, or if our content or any other element of our Solution is associated with faulty clinical decisions or treatment, we could have liability to customers, members, clinicians, or patients, which could adversely affect our results of operations.
  • If we are unable to implement and maintain effective internal controls over financial reporting, investors may lose confidence in the accuracy and completeness of our financial reports and the market price of our common stock could be adversely affected.
  • Future litigation against us could be costly and time-consuming to defend and could result in additional liabilities.
  • Changes in accounting principles may cause previously unanticipated fluctuations in our financial results, and the implementation of such changes may impact our ability to meet our financial reporting obligations.
  • Economic uncertainties or downturns in the general economy or the industries in which our customers operate could disproportionately affect the demand for our Solution and negatively impact our results of operations.
  • We may acquire other companies or technologies, which could divert our management’s attention, result in dilution to our stockholders, and otherwise disrupt our operations and we may have difficulty integrating any such acquisitions successfully or realizing the anticipated benefits therefrom, any of which could have an adverse effect on our business, financial condition, and results of operations.
  • Because competition for our target employees is intense, we may not be able to attract and retain the highly skilled employees we need to support our continued growth.
  • We depend on our senior management team, and the loss of one or more of our executive officers or key employees or an inability to attract and retain highly skilled employees could adversely affect our business.
  • Our corporate culture has contributed to our success, and if we cannot maintain this culture as we grow, we could lose the innovation, creativity, and teamwork fostered by our culture, which could harm our business.
  • If we fail to effectively manage our growth and organizational change, our business and results of operations could be harmed.
  • We may not grow at the rates we historically have achieved or at all, even if our key metrics may indicate growth.
  • The estimates of market opportunity and forecasts of market growth included herein may prove to be inaccurate, and even if the markets in which we compete achieve the forecasted growth, our business may not grow at similar rates, or at all.
  • Our Solution is dependent on our ability to source data from third parties, and such third parties could take steps to block our access to data, which could impair our ability to provide our Solution or limit the effectiveness of our Solution.
  • Failure by our customers to obtain proper permissions and waivers may result in claims against us or may limit or prevent our use of data, which could harm our business.
  • If our security measures are breached or unauthorized access to customer data is otherwise obtained, our Solution may be perceived as not being secure, customers may reduce the use of or stop using our Solution, and we may incur significant liabilities.
  • We rely on third-party providers, including Microsoft Azure, for computing infrastructure, network connectivity, and other technology-related services needed to deliver our Solution. Any disruption in the services provided by such third-party providers could adversely affect our business and subject us to liability.
  • We rely on Internet infrastructure, bandwidth providers, data center providers, other third parties, and our own systems for providing services to our users, and any failure or interruption in the services provided by these third parties or our own systems could expose us to litigation, potentially require us to issue credits to our customers, and negatively impact our relationships with users or customers, adversely affecting our brand and our business.
  • Our Solution utilizes open-source software, and any failure to comply with the terms of one or more of these open-source licenses could adversely affect our business.
  • We employ third-party licensed software and software components for use in or with our Solution, and the inability to maintain these licenses or the presence of errors in the software we license could limit the functionality of our Solution and result in increased costs or reduced service levels, which would adversely affect our business.
  • Any failure to protect our intellectual property rights could impair our ability to protect our proprietary technology and our brand.
  • We may be sued by third parties for alleged infringement of their proprietary rights or misappropriation of intellectual property.
  • Government regulation of healthcare creates risks and challenges with respect to our compliance efforts and our business strategies.
  • If our arrangements with physicians and other health care professionals are found to constitute the improper rendering of professional medical services or fee splitting under applicable state laws, our business, financial condition and our ability to operate in those states could be adversely impacted.
  • The FDA may modify its enforcement policies with respect to medical software products, and our products may become subject to extensive regulatory requirements, which may increase the cost of conducting, or otherwise harm, our business.
  • The healthcare regulatory and political framework is uncertain and evolving.
  • Due to the particular nature of certain services we provide or the manner in which we provide them, we may be subject to additional government regulation and foreign government regulation.
  • Our business could be adversely impacted by changes in laws and regulations related to the Internet or changes in access to the Internet generally.
  • Taxing authorities may successfully assert that we should have collected or in the future should collect sales and use, value-added or similar transactional taxes, and we could be subject to liability with respect to past or future sales, which could adversely affect our results of operations.
  • Unanticipated changes in our effective tax rate and additional tax liabilities, including as a result of our international operations or implementation of new tax rules, could harm our future results.
  • Our ability to use our net operating losses to offset future taxable income may be subject to certain limitations.
  • Comprehensive tax reform legislation could adversely affect our business and financial condition.
  • Servicing our Notes may require a significant amount of cash, and we may not have sufficient cash or the ability to raise the funds necessary to settle conversions of the Notes in cash, repay the Notes at maturity, or repurchase the Notes as required.
  • The Capped Calls may affect the value of our common stock.
  • If we raise additional capital through debt financing, the terms of any new debt could further restrict our ability to operate our business.
  • We have a limited operating history in an evolving industry which makes it difficult to evaluate our current business future prospects and increases the risk of your investment.
  • We have experienced significant net losses since inception, we expect to incur losses in the future, and we may not be able to generate sufficient revenue to achieve and maintain profitability.
  • The market price of our common stock may be volatile and may decline regardless of our operating performance, and you may lose all or part of your investments.
  • If securities or industry analysts do not publish research, or publish inaccurate or unfavorable research, about our business, the price of our common stock and trading volume could decline.
  • Our management has broad discretion in the use of proceeds from our IPO and the Note Offering and our use may not produce a positive rate of return.
  • Our issuance of additional capital stock in connection with financings, acquisitions, investments, our stock incentive plans or otherwise will dilute all other stockholders.
  • The requirements of being a public company may strain our resources, divert management’s attention and affect our ability to attract and retain executive management and qualified board members.
  • We do not intend to pay dividends on our common stock and, consequently, the ability of common stockholders to achieve a return on investment will depend on appreciation, if any, in the price of our common stock.
  • We could be subject to securities class action litigation.
  • Provisions in our charter documents and under Delaware law could make an acquisition of our company more difficult, limit attempts by our stockholders to replace or remove our current board of directors, and limit the market price of our common stock.
  • Our amended and restated bylaws designate a state or federal court located within the State of Delaware as the exclusive forum for certain litigation that may be initiated by our stockholders, which could limit stockholders’ ability to obtain a favorable judicial forum for disputes with us.
Management Discussion
  • Total revenue was $59.6 million for the three months ended June 30, 2021, compared to $43.3 million for the three months ended June 30, 2020, an increase of $16.4 million, or 38%.
  • Technology revenue was $35.5 million, or 60% of total revenue, for the three months ended June 30, 2021, compared to $25.5 million, or 59% of total revenue, for the three months ended June 30, 2020. The technology revenue growth was primarily from new DOS Subscription Customers, acquired technology customers, revenue from existing customers paying higher technology access fees from contractual, annual escalators, and new offerings of expanded support services.
  • Professional services revenue was $24.1 million, or 40% of total revenue, for the three months ended June 30, 2021, compared to $17.8 million, or 41% of total revenue, for the three months ended June 30, 2020. The professional services revenue growth is primarily due to implementation, analytics, outsourcing, and other improvement services being provided to new DOS Subscription Customers, including higher than expected non-recurring and project-based services, partially offset by lower professional services dollar-based retention relative to historical performance. Additionally, in the prior year we provided professional services discounts to support our customers through the financial strain they experienced related to COVID-19.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Good
New words: Albuquerque, budgetary, Delta, driven, paired, science, slightly, transform, Twistle, variant
Removed: escrow, headwind, reclassified, reconciling, tracking