your badges 52W Range $1–$4 30% of range Analyst Rating HOLD 12 analysts Price Target $2 +1% upside P/E -0.5 ROE -118.1% Net Profit Margin -90.6%

HCAT Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

03
Price $1.75
Market Cap (MRQ) $131M
P/E (TTM) -0.5
EPS (TTM) $-3.69
Revenue (TTM) $292M
ROE (TTM) -118.1%
Debt/Equity (MRQ) 1.5
52W Range $1–$4

HCAT Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

04
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10-Year Performance Revenue, net income, margins and EPS trends

06
Revenue$311M
2017-12-31 → 2025-12-31
EPS$-2.55
2019-12-31 → 2025-12-31
Free Cash Flow·
2019-12-31 → 2022-12-31
Net margin-90.6%
2019-12-31 → 2022-12-31
Valuation & Ratios 07–12

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric 5Y trend HCAT 5Y avg Peer Median Verdict
P/E (TTM) -0.55Y avg ≈-5.6 ≈-5.6 · ·
P/S (TTM) 0.4 · 1.1 Undervalued
P/B (MRQ) 1.3 · 2.0 Undervalued
Price / FCF (TTM) 4.8 · · ·
Price / Cash Flow (TTM) 4.6 · 19.2 Overvalued
EV / Revenue (TTM) 0.6 · · ·
EV / FCF (TTM) 6.7 · · ·
Price / Tangible Book (MRQ) 2.95Y avg ≈10.3 ≈10.3 · ·

Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.

value · ≈ 5Y avg · industry median · verdict relative to median

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

14
Avg Surprise 8.9%
Next Report Nov 09, 2026
PeriodReportEPS ActualEPS EstSurprise
June 30, 2026 Aug 12, 2026 $0.04 $0.03 29.0%
March 31, 2026 May 12, 2026 $0.02 $0.02 14.3%
Dec. 31, 2025 $0.08 $0.09 -13.8%
Sept. 30, 2025 $0.06 $0.06 -0.66%
June 30, 2025 $0.04 $0.03 15.6%
March 31, 2025 $0.01 $0.00 —

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

15
Income Statement 13
Metric Trend 20252024202320222021202020192018
Revenue $311M$307M$296M$276M$242M$189M$155M$113M
R&D Expense $50M$58M$73M$76M$63M$54M$46M$39M
SG&A Expense $50M$57M$77M$62M$86M$59M$32M$23M
Operating Expenses $313M$211M$259M$273M$261M$187M$134M$113M
Operating Income $-161M$-70M$-127M$-140M$-144M$-96M$-55M$-60M
Pretax Income $-177M$-69M$-118M·····
Income Tax $716.0K$333.0K$356.0K$-4M$-7M$-1M$142.0K$-135.0K
Net Income $-178M$-70M$-118M$-137M$-153M$-115M$-60M$-62M
EPS (Basic) $-2.55$-1.15$-2.09$-2.56$-3.23$-2.91$-12.86·
EPS (Diluted) $-2.55$-1.15$-2.09$-2.63$-3.23$-2.91$-12.86·
Shares (Basic) 69,896,00060,185,00056,418,00053,722,00047,495,00039,541,00018,741,000·
Shares (Diluted) 69,896,00060,185,00056,418,00054,080,00047,495,00039,541,00018,741,000·
EBITDA ···$-140M$-144M$-96M$-55M·
Balance Sheet 26
Metric Trend 20252024202320222021202020192018
Cash & Equivalents $51M$250M$106M$116M$193M$92M$18M$28M
Short-term Investments $45M$142M$211M$247M$252M$179M$210M$5M
Receivables $59M$57M$60M$48M$49M$48M$28M$28M
Prepaid Expense $14M$16M$15M$16M$15M$11M$8M$5M
Current Assets $169M$466M$393M$428M$508M$330M$264M$67M
PP&E (Net) $34M$29M$26M$26M$23M$13M$4M$5M
PP&E (Gross) $87M$69M$53M$43M$35M$23M$14M$12M
Accum. Depreciation $53M$39M$27M$17M$11M$10M$10M$8M
Goodwill $209M$260M$191M$186M$170M$108M$4M$4M
Intangibles $78M$86M$73M$92M$105M$99M$26M$28M
Other Non-current Assets $6M$6M$5M$4M$4M$4M$810.0K$1M
Total Assets $503M$859M$702M$752M$832M$578M$302M$111M
Accounts Payable $9M$11M$7M$4M$5M$5M$4M$2M
Current Liabilities $90M$326M$89M$83M$93M$88M$48M$42M
Capital Leases $14M$16M$18M$18M$20M$24M$2M$4M
Other Non-current Liabilities $798.0K$154.0K$74.0K$121.0K$113.0K$2M$326.0K$0
Total Liabilities $257M$494M$335M$327M$310M$302M$102M$76M
Long-term Debt $153M$382M$228M···$48M$20M
Total Debt ···$227M$181M$169M$48M·
Common Stock ····$53.0K$43.0K$37.0K$5.0K
Paid-in Capital ····$1.40B$1.00B$811M$0
Retained Earnings $-1.36B$-1.19B$-1.12B$-999M$-879M$-726M$-611M$-375M
AOCI $2M$-835.0K$33.0K$-648.0K$-67.0K$61.0K$72.0K$-1.0K
Stockholders' Equity $246M$365M$367M$425M$522M$276M$201M$-375M
Liabilities + Equity $503M$859M$702M$752M$832M$578M$302M$111M
Shares Outstanding 72,027,33264,043,79958,295,49155,261,92252,622,08043,376,84836,678,8544,779,356
Cash Flow 15
Metric Trend 20252024202320222021202020192018
D&A $50M$41M$42M$48M$38M$19M$9M$7M
Stock-based Comp $27M$40M$56M$72M$65M$38M$18M$4M
Deferred Tax $81.0K$77.0K$8.0K$-5M$-7M$-1M$40.0K$-163.0K
Amort. of Intangibles $36M$29M$30M$37M$32M$16M$6M$5M
Operating Cash Flow $731.0K$15M$-33M$-35M$-23M$-26M$-32M$-40M
CapEx $968.0K$2M$1M$2M$10M$8M$2M$2M
Investing Cash Flow $36M$-23M$20M$-39M$-140M$-83M$-210M$21M
Debt Issued $0$152M$0·····
Stock Issued ··$0$0$245M$0$195M·
Stock Repurchased $5M$0$2M$8M$0$0$0$9M
Net Stock Activity ···$-8M$245M$0$0·
Financing Cash Flow $-236M$152M$3M$-3M$264M$183M$231M$24M
Net Change in Cash $-199M$143M$-10M$-77M$101M$74M$-10M$5M
Taxes Paid $395.0K·······
Free Cash Flow ···$-37M$-34M$-34M$-35M·
Profitability 5
Metric Trend 20252024202320222021202020192018
Operating Margin ···-50.7%-59.4%-50.9%-35.4%·
Net Margin ···-49.7%-63.3%-60.9%-38.8%·
EBITDA Margin ···-50.7%-59.4%-50.9%-35.4%·
ROA ···-17.3%-21.7%-26.1%-29.1%·
ROE ···-31.8%-28.6%-40.0%-29.5%·
Liquidity & Solvency 4
Metric Trend 20252024202320222021202020192018
Current Ratio ···5.25.53.75.5·
Quick Ratio ···5.05.33.65.3·
Debt / Equity ···0.50.30.60.2·
LT Debt / Equity ···0.50.30.60.2·
Efficiency 2
Metric Trend 20252024202320222021202020192018
Asset Turnover ···0.30.30.40.7·
Receivables Turnover ···5.75.05.05.6·
Per Share 5
Metric Trend 20252024202320222021202020192018
Book Value / Share ···$7.69$9.92$6.37··
Revenue / Share ···$5.11$5.09···
Cash Flow / Share ···$-0.65$-0.49···
Cash / Share ···$2.10$3.67$2.12··
EPS (TTM) $-2.55$-1.15$-2.09$-2.63$-3.23$-2.91$-12.86·
Growth Rates 3
Metric Trend 20252024202320222021202020192018
Revenue YoY 1.5%3.6%7.1%14.2%28.1%···
Revenue CAGR 3Y 4.0%8.2%16.2%·····
Revenue CAGR 5Y 10.5%·······
Valuation (TTM) 14
Metric Trend 20252024202320222021202020192018
Revenue TTM $311M$307M$296M$276M$242M$189M$155M·
Net Income TTM $-178M$-70M$-118M$-137M$-153M$-115M$-60M·
Market Cap ···$587M$2.08B$1.89B··
Enterprise Value ···$450M$1.82B$1.79B··
P/E -0.9-6.1-4.4-4.0-12.3-15.0-2.7·
P/S ···2.18.610.0··
P/B ···1.44.06.8··
P / Tangible Book ·23.35.24.08.427.2··
P / Cash Flow ···-16.7-90.2-72.2··
P / FCF ···-15.7-62.1-55.7··
EV / EBITDA ···-3.2-12.7-18.6··
EV / FCF ···-12.0-54.2-52.7··
EV / Revenue ···1.67.59.5··
Earnings Yield -106.7%-16.3%-22.6%-24.7%-8.2%-6.7%-37.1%·

Most recent period on the left · null values shown as ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

16
Metric 2025-12-312024-12-312023-12-312022-12-312021-12-31
Revenue $311M $307M $296M $276M $242M
Operating Margin % · · · -50.7% -59.4%
Net Income $-178M $-70M $-118M $-137M $-153M
Diluted EPS $-2.55 $-1.15 $-2.09 $-2.63 $-3.23

Institutional owners (13F) 153 filers · $123.2M total · As of June 30, 2026

17

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Holders 153
Value held $123.2M
New positions 34
Exited positions 33
Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
34 (-7 vs prior Q) 33 (+3 vs prior Q) 36 (-5 vs prior Q) 43 (+8 vs prior Q) -3.0M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
First Light Asset Management, LLC $25,493,613 12,810,861 20.69% Shares
CDC Financial, Inc. $14,114,469 7,092,698 11.45% Shares
VANGUARD GROUP INC $10,598,185 4,434,387 8.60% Shares
Palogic Value Management, L.P. $9,795,659 4,922,442 7.95% Shares
Impax Asset Management Group plc $7,960,000 4,000,000 6.46% Shares
Nepsis Inc. $5,922,612 2,976,187 4.81% Shares
VANGUARD CAPITAL MANAGEMENT LLC $5,913,480 2,971,598 4.80% Shares
BlackRock, Inc. $3,654,383 1,836,373 2.97% Shares
Whetstone Capital Advisors, LLC $3,014,850 1,515,000 2.45% Call option
JANE STREET GROUP, LLC $2,065,186 1,037,782 1.68% Shares
AMH Equity Ltd $1,881,000 660,000 1.53% Shares
DIMENSIONAL FUND ADVISORS LP $1,814,353 911,819 1.47% Shares
GEODE CAPITAL MANAGEMENT, LLC $1,774,493 891,357 1.44% Shares
HighMark Wealth Management LLC $1,733,453 871,082 1.41% Shares
Caption Management, LLC $1,691,500 850,000 1.37% Call option
Caption Management, LLC $1,691,500 850,000 1.37% Put option
Caption Management, LLC $1,539,564 773,650 1.25% Shares
Mink Brook Asset Management LLC $1,469,171 738,277 1.19% Shares
Prescott Group Capital Management, L.L.C. $1,414,498 710,803 1.15% Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $1,224,853 615,504 0.99% Shares
MILLENNIUM MANAGEMENT LLC $1,027,005 516,083 0.83% Shares
PEAK6 LLC $995,000 500,000 0.81% Call option
GOLDMAN SACHS GROUP INC $957,130 480,970 0.78% Shares
VANGUARD FIDUCIARY TRUST CO $921,380 463,005 0.75% Shares
CITADEL ADVISORS LLC $901,896 453,214 0.73% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $870,082 437,227 0.71% Shares
FMR LLC $817,166 410,637 0.66% Shares
HSBC HOLDINGS PLC $809,095 408,634 0.66% Shares
Squarepoint Ops LLC $796,418 400,210 0.65% Shares
AQR CAPITAL MANAGEMENT LLC $749,406 376,586 0.61% Shares
STATE STREET CORP $717,819 360,713 0.58% Shares
RENAISSANCE TECHNOLOGIES LLC $695,039 349,266 0.56% Shares
71 West Capital Partners $675,635 339,515 0.55% Shares
Weiss Asset Management LP $514,401 258,493 0.42% Shares
UBS Group AG $506,762 254,654 0.41% Shares
Baird Financial Group, Inc. $491,275 246,872 0.40% Shares
Jain Global LLC $430,921 216,543 0.35% Shares
NORTHERN TRUST CORP $352,544 177,158 0.29% Shares
Susquehanna Portfolio Strategies, LLC $335,202 168,443 0.27% Shares
Whetstone Capital Advisors, LLC $332,523 167,097 0.27% Shares
VANGUARD PORTFOLIO MANAGEMENT LLC $241,610 121,412 0.20% Shares
MORGAN STANLEY $211,196 106,127 0.17% Shares
Aster Capital Management (DIFC) Ltd $202,542 101,780 0.16% Shares
BARCLAYS PLC $196,316 98,651 0.16% Shares
Bank of New York Mellon Corp $158,858 79,828 0.13% Shares
Quadrature Capital Ltd $144,261 72,493 0.12% Shares
Veradace Capital Management LLC $139,300 70,000 0.11% Shares
CANADA PENSION PLAN INVESTMENT BOARD $134,126 67,400 0.11% Shares
Headlands Technologies LLC $130,773 65,715 0.11% Shares
SIG BROKERAGE, LP $129,350 65,000 0.10% Put option

Show all 153 institutional owners →

Activists & 5%+ owners 4 positions

18

Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.

Filer Filed Stake Status Purpose Filing
Palogic Capital Management, LLC, Palogic Value Fund, LP, Palogic Value Management, LP, Ryan L. Vardeman Sept. 8, 2026 7.10% Amendment · SEC
Palogic Value Management, LP, Palogic Value Fund, LP, Palogic Capital Management, LLC, Ryan L. Vardeman June 22, 2026 6.70% Initial filing Passive investment SEC
Whetstone Capital Advisors, LLC, David Atterbury ×3 filings June 8, 2026 4.50% Amendment · SEC
First Light Asset Management, LLC, Mathew P. Arens ×2 filings March 13, 2026 18.30% Amendment · SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

Company insiders 30 insiders · 16 officers · 16 directors

19
Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Simeon Kohl Chief Executive Officer Sept. 14, 2026 P 2,856,385 1 0 $105,610
Benjamin Albert CEO Sept. 10, 2026 F 1,388,406 0 0 $0
Daniel D. Burton Chief Executive Officer Dec. 1, 2025 F 1,393,099 0 0 $0
Jason Alger Chief Financial Officer Sept. 1, 2026 F 704,867 0 0 $0
Bryan Truman Hunt Chief Financial Officer March 1, 2024 F 219,849 0 0 $0
James Patrick Nelli Jr. President Sept. 1, 2022 F 265,025 0 0 $0
Daniel Lesueur Chief Operating Officer Sept. 2, 2025 F 198,367 0 0 $0
Anne Marie Bickmore COO and Chief Product Officer Dec. 1, 2023 F 63,720 0 0 $0
Paul Horstmeier Chief Operating Officer March 22, 2023 M 204,880 0 0 $0
Benjamin Landry General Counsel Sept. 1, 2026 F 351,372 0 1 $-72,402
Linda Llewelyn Chief People Officer June 1, 2026 F 321,132 0 0 $0
Kevin Lee Freeman Chief Commercial Officer Dec. 1, 2025 F 358,686 0 0 $0
David Coy Ross Chief Tech & Product Officer Sept. 2, 2025 F 204,219 0 0 $0
Daniel H. Orenstein General Counsel March 1, 2023 F 133,097 0 0 $0
Bryan Richard Hinton Chief Technology Officer Sept. 1, 2022 F 26,403 0 0 $0
Dale Sanders Chief Technology Officer Sept. 1, 2020 M 164,484 0 0 $0
Julie Larson-Green Director Sept. 1, 2026 A 185,101 0 1 $-128,152
Green Jill Hoggard Director July 16, 2026 A 144,628 0 0 $0
Justin Spencer Director July 16, 2026 A 149,263 0 0 $0
Steven H Nelson Director July 16, 2026 A 235,499 0 0 $0
Duncan Gallagher Director Feb. 17, 2026 A 132,023 0 0 $0
Dawn S. Smith Director July 9, 2025 A 101,692 0 0 $0
KANE JOHN A Director July 9, 2025 A 170,719 0 0 $0
Anita Pramoda Director Dec. 1, 2024 A 58,155 0 0 $0
Mark B Templeton Director June 14, 2023 A 39,360 0 0 $0
Fraser D Bullock Director June 10, 2021 A 44,999 0 0 $0
Timothy G. Ferris Director Jan. 11, 2021 M 5,443 0 0 $0
Michael Edward Dixon Director June 12, 2020 A 54,199 0 0 $0
Todd C Cozzens Director June 12, 2020 A 139,774 0 0 $0
HAQUE PROMOD 10% owner July 15, 2020 J 1,752,090 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 7 ETFs

20

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
IWC · iShares Trust 0.02% 178,185 SH Sept. 11, 2026 Daily
PRFZ · Invesco Exchange-Traded Fund Trust 0.00% 37,164 SH Sept. 29, 2026 Daily
DFAT · Dimensional ETF Trust 0.00% 91,369 NS July 31, 2026 N-PORT
DFAS · Dimensional ETF Trust 0.00% 23,456 NS July 31, 2026 N-PORT
VXF · VANGUARD INDEX FUNDS 0.00% 840,318 SH Aug. 19, 2026 Daily
VTI · VANGUARD INDEX FUNDS 0.00% 2,058,272 SH Aug. 19, 2026 Daily
VHT · VANGUARD WORLD FUND 0.00% 121,412 SH Aug. 19, 2026 Daily

HCAT Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

21
rating · 12 analysts BUY
Median target $1.80 +2.9%
3 25.0% Strong Buy
3 25.0% Buy
6 50.0% Hold
0 0.0% Sell
0 0.0% Strong Sell

12-Month Price Target

3 analysts · 2026-09-28

Mean target $1.77 +1.0%

Now Current price $1.75
Low$1.50 Mean$1.77 High$2.00

Peer comparison (GICS sub-industry) Key metrics vs sector peers

22

FY basis, prices as of each company's last fiscal year-end close.

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
HCAT · -0.9 1.5% · · ·
SLP $285M -4.4 13.1% -81.7% -41.2% 58.4%
AMWL $81M -0.8 -2.0% -38.4% -35.4% ·
OPRX $230M 45.4 18.8% 4.7% 4.2% 67.2%
DH · -2.2 -4.2% -57.5% -28.2% 75.9%
LFMD $159M 13.6 25.3% 7.4% 204.0% 85.7%
CCLD · · · · · ·
DRIO $79M 1.1 -17.3% -186.6% -63.2% 56.6%
VEEV $33.40B 37.5 16.3% 28.4% 13.1% 75.5%

Latest News Recent headlines mentioning this company

23
Health Catalyst (HCAT) Q4 2025 Earnings Transcript Yahoo Finance · 6 months, 2 weeks ago

My Metrics Your personal watchlist — selected rows from Full Fundamentals

26

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Source: SEC 10-Q filed Aug 6, 2026