Health Catalyst Reports Third Quarter 2024 Results

Rhea-AI Summary

Health Catalyst (HCAT) reported Q3 2024 financial results with total revenue of $76.4 million, representing a 3% year-over-year growth. The company achieved an Adjusted EBITDA of $7.3 million, marking a 266% increase from the previous year. Gross profit improved by 10% to $27.8 million, with gross margin expanding to 36% from 34%. The company's net loss decreased by 33% to $14.7 million compared to the same period last year. Based on strong performance, Health Catalyst raised its Adjusted EBITDA guidance by $1 million for 2024, demonstrating commitment to financial discipline and profitable growth.

Positive

• Revenue growth of 3% YoY to $76.4 million
• Adjusted EBITDA increased 266% YoY to $7.3 million
• Gross profit improved 10% to $27.8 million
• Net loss reduced by 33% to $14.7 million
• Raised Adjusted EBITDA guidance by $1 million for 2024

Negative

• Still operating at a net loss of $14.7 million

Insights

Financial Analyst

Health Catalyst's Q3 2024 results demonstrate meaningful progress in financial performance. Revenue grew 3% year-over-year to $76.4M, while Adjusted EBITDA showed substantial improvement at $7.3M, up 266% from the previous year. The company's focus on profitable growth is evident in its improved margins, with gross margin expanding to 36% from 34%.

The 33% reduction in net loss to $14.7M and management's confidence in raising Adjusted EBITDA guidance by $1M signals strengthening operational efficiency. The robust bookings through Q3 suggest healthy demand for their healthcare analytics solutions. While revenue growth is modest, the significant EBITDA improvement indicates successful cost management and scaling initiatives.

SALT LAKE CITY, Nov. 06, 2024 (GLOBE NEWSWIRE) -- Health Catalyst, Inc. (“Health Catalyst,” Nasdaq: HCAT), a leading provider of data and analytics technology and services to healthcare organizations, today reported financial results for the quarter ended September 30, 2024.

“For the third quarter of 2024, I am pleased with our strong financial results, including total revenue of $76.4 million and Adjusted EBITDA of $7.3 million, with these results exceeding the mid-point of our quarterly guidance on each metric. This financial performance continues to demonstrate our ability to scale as we remain focused on driving profitable growth. We are encouraged with our bookings results through Q3 2024 and we are excited to continue this momentum in Q4,” said Dan Burton, CEO of Health Catalyst. “Additionally, we are happy to be in a position to raise our Adjusted EBITDA guidance by $1 million for 2024. This is a testament to our commitment to financial discipline, operating leverage, and profitable growth.”

Financial Highlights for the Three Months Ended September 30, 2024

Key Financial Metrics

	Three Months Ended September 30,								Year over Year Change
		2024				2023
GAAP Financial Measures:	(in thousands, except percentages, unaudited)
Total revenue	$	76,353			$	73,773			3%
Gross profit	$	27,758			$	25,339			10%
Gross margin		36	%			34	%
Net loss	$	(14,726	)		$	(22,032	)		33%
Non-GAAP Financial Measures:(1)
Adjusted Gross Profit	$	36,289			$	34,572			5%
Adjusted Gross Margin		48	%			47	%
Adjusted EBITDA	$	7,295			$	1,992			266%

________________________

(1) These measures are not calculated in accordance with generally accepted accounting principles in the United States (GAAP). See the accompanying "Non-GAAP Financial Measures" section below for more information about these financial measures, including the limitations of such measures, and for a reconciliation of each measure to the most directly comparable measure calculated in accordance with GAAP.

Financial Outlook

Health Catalyst provides forward-looking guidance on total revenue, a GAAP measure, and Adjusted EBITDA, a non-GAAP measure.

For the fourth quarter of 2024, we expect:

• Total revenue between $78.0 million and $84.0 million, and

• Adjusted EBITDA between $6.8 million and $8.8 million

For the full year of 2024, we expect:

• Total revenue between $305.0 million and $311.0 million, and

• Adjusted EBITDA between $25.0 million and $27.0 million

We have not provided forward-looking guidance for net loss, the most directly comparable GAAP measure to Adjusted EBITDA, and therefore have not reconciled guidance for Adjusted EBITDA to net loss, because there are items that may impact net loss, including stock-based compensation, that are not within our control or cannot be reasonably forecasted.

Quarterly Conference Call Details

We will host a conference call to review the results today, Wednesday, November 6, 2024, at 4:30 p.m. E.T. The conference call can be accessed by dialing (800) 343-5172 for U.S. participants, or (203) 518-9856 for international participants, and referencing conference ID “HCATQ324.” A live audio webcast will be available online at https://ir.healthcatalyst.com/. A replay of the call will be available via webcast for on-demand listening shortly after the completion of the call, at the same web link, and will remain available for approximately 90 days.

About Health Catalyst

Health Catalyst is a leading provider of data and analytics technology and services to healthcare organizations and is committed to being the catalyst for massive, measurable, data-informed healthcare improvement. Its clients 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.

Available Information

Our investors and others should note that we announce material information to the public about our company, products and services, and other matters related to our company through a variety of means, including our website (https://www.healthcatalyst.com/), our investor relations website (https://ir.healthcatalyst.com/), press releases, SEC filings, public conference calls, and social media, including our and our CEO's social media accounts, in order to achieve broad, non-exclusionary distribution of information to the public and to comply with our disclosure obligations under Regulation FD.

Forward-Looking Statements

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended. These forward-looking statements include statements regarding our future growth and our financial outlook for the fourth quarter and full year 2024. Forward-looking statements are subject to risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance.

Important risks and uncertainties that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) changes in laws and regulations applicable to our business model; (ii) changes in market or industry conditions, regulatory environment, and receptivity to our technology and services; (iii) results of litigation or a security incident; (iv) the loss of one or more key clients or partners; (v) the impact of the challenging macroeconomic environment (including high inflationary and/or high interest rate environments) on our business and results of operations; and (vi) changes to our abilities to recruit and retain qualified team members. For a detailed discussion of the risk factors that could affect our actual results, please refer to the risk factors identified in our SEC reports, including, but not limited to the Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2024 expected to be filed with the SEC on or about November 6, 2024 and the Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC on February 22, 2024. All information provided in this release and in the attachments is as of the date hereof, and we undertake no duty to update or revise this information unless required by law.

 

Condensed Consolidated Balance Sheets (in thousands, except share and per share data, unaudited)
	As of September 30,				As of December 31,
		2024				2023
	(unaudited)
Assets
Current assets:
Cash and cash equivalents	$	328,327			$	106,276
Short-term investments		58,929				211,452
Accounts receivable, net		51,648				60,290
Prepaid expenses and other assets		18,510				15,379
Total current assets		457,414				393,397
Property and equipment, net		27,908				25,712
Intangible assets, net		76,463				73,384
Operating lease right-of-use assets		11,222				13,927
Goodwill		234,387				190,652
Other assets		5,656				4,742
Total assets	$	813,050			$	701,814
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable	$	14,278			$	6,641
Accrued liabilities		23,548				23,282
Deferred revenue		52,202				55,753
Operating lease liabilities		3,329				3,358
Current portion of long-term debt		230,423				—
Total current liabilities		323,780				89,034
Long-term debt, net of current portion		114,611				228,034
Deferred revenue, net of current portion		258				77
Operating lease liabilities, net of current portion		15,969				17,676
Other liabilities		3,395				74
Total liabilities		458,013				334,895
Stockholders’ equity:
Preferred stock, $0.001 par value per share; 25,000,000 shares authorized and no shares issued and outstanding as of September 30, 2024 and December 31, 2023		—				—
Common stock, $0.001 par value per share, and additional paid-in capital; 500,000,000 shares authorized as of September 30, 2024 and December 31, 2023; 60,847,658 and 58,295,491 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively		1,521,146				1,484,056
Accumulated deficit		(1,165,999	)			(1,117,170	)
Accumulated other comprehensive income (loss)		(110	)			33
Total stockholders’ equity		355,037				366,919
Total liabilities and stockholders’ equity	$	813,050			$	701,814

 

Condensed Consolidated Statements of Operations (in thousands, except per share data, unaudited)
	Three Months Ended September 30,								Nine Months Ended September 30,
		2024				2023				2024				2023
	(in thousands)								(in thousands)
Revenue:
Technology	$	48,653			$	45,973			$	143,254			$	140,483
Professional services		27,700				27,800				83,724				80,371
Total revenue		76,353				73,773				226,978				220,854
Cost of revenue, excluding depreciation and amortization:
Technology(1)(2)(3)		17,609				15,169				48,991				45,755
Professional services(1)(2)(3)		24,704				26,618				71,899				73,774
Total cost of revenue, excluding depreciation and amortization		42,313				41,787				120,890				119,529
Operating expenses:
Sales and marketing(1)(2)(3)		11,342				15,084				43,145				50,050
Research and development(1)(2)(3)		14,193				17,667				42,948				52,339
General and administrative(1)(2)(3)(4)(5)		12,209				13,625				41,136				61,129
Depreciation and amortization		9,983				10,190				31,165				31,919
Total operating expenses		47,727				56,566				158,394				195,437
Loss from operations		(13,687	)			(24,580	)			(52,306	)			(94,112	)
Interest and other income (expense), net		(1,514	)			2,607				3,185				6,490
Loss before income taxes		(15,201	)			(21,973	)			(49,121	)			(87,622	)
Income tax provision (benefit)		(475	)			59				(292	)			213
Net loss	$	(14,726	)		$	(22,032	)		$	(48,829	)		$	(87,835	)
Net loss per share, basic and diluted	$	(0.24	)		$	(0.39	)		$	(0.82	)		$	(1.57	)
Weighted-average shares outstanding used in calculating net loss per share, basic and diluted		60,441				56,711				59,449				56,062

_______________
(1)   Includes stock-based compensation expense as follows:

	Three Months Ended September 30,						Nine Months Ended September 30,
		2024			2023			2024			2023
Stock-Based Compensation Expense:	(in thousands)						(in thousands)
Cost of revenue, excluding depreciation and amortization:
Technology	$	450		$	497		$	1,206		$	1,408
Professional services		1,601			1,927			4,282			5,682
Sales and marketing		2,555			5,149			8,997			16,049
Research and development		1,871			2,927			5,391			8,677
General and administrative		3,035			3,732			9,440			10,929
Total	$	9,512		$	14,232		$	29,316		$	42,745

(2)   Includes acquisition-related costs (benefit), net, as follows:

	Three Months Ended September 30,						Nine Months Ended September 30,
		2024			2023			2024			2023
Acquisition-related costs (benefit), net:	(in thousands)						(in thousands)
Cost of revenue, excluding depreciation and amortization:
Technology	$	77		$	66		$	246		$	208
Professional services		121			96			330			298
Sales and marketing		151			102			738			304
Research and development		183			198			612			587
General and administrative		955			1,664			3,805			1,705
Total	$	1,487		$	2,126		$	5,731		$	3,102

(3)   Includes restructuring costs as follows:

	Three Months Ended September 30,						Nine Months Ended September 30,
		2024			2023			2024			2023
Restructuring costs:	(in thousands)						(in thousands)
Cost of revenue, excluding depreciation and amortization:
Technology	$	—		$	—		$	79		$	12
Professional services		—			—			181			434
Sales and marketing		—			—			449			1,205
Research and development		—			—			443			286
General and administrative		—			—			936			118
Total	$	—		$	—		$	2,088		$	2,055

(4)   Includes litigation costs as follows:

	Three Months Ended September 30,						Nine Months Ended September 30,
		2024			2023			2024			2023
Litigation costs:	(in thousands)						(in thousands)
Cost of revenue, excluding depreciation and amortization:
General and administrative	$	—		$	24		$	—		$	21,279
Total	$	—		$	24		$	—		$	21,279

(5)   Includes non-recurring lease-related charges as follows:

	Three Months Ended September 30,						Nine Months Ended September 30,
		2024			2023			2024			2023
Non-recurring lease-related charges:	(in thousands)						(in thousands)
General and administrative	$	—		$	—		$	2,200		$	2,681
Total	$	—		$	—		$	2,200		$	2,681

 

Condensed Consolidated Statements of Cash Flows (in thousands, unaudited)
	Nine Months Ended September 30,
		2024				2023
Cash flows from operating activities
Net loss	$	(48,829	)		$	(87,835	)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Stock-based compensation expense		29,316				42,745
Depreciation and amortization		31,165				31,919
Impairment of long-lived assets		2,200				2,681
Non-cash operating lease expense		1,981				2,272
Amortization of debt discount, issuance costs, and deferred financing costs		2,078				1,132
Investment discount and premium accretion		(3,899	)			(6,816	)
Provision for expected credit losses		3,433				1,626
Deferred tax provision (benefit)		(517	)			6
Change in fair value of contingent consideration liabilities		(1,642	)			—
Other		87				101
Change in operating assets and liabilities:
Accounts receivable, net		6,304				259
Prepaid expenses and other assets		(617	)			385
Accounts payable, accrued liabilities, and other liabilities		4,810				1,847
Deferred revenue		(5,259	)			(1,688	)
Operating lease liabilities		(2,525	)			(2,673	)
Net cash provided by (used in) operating activities		18,086				(14,039	)
Cash flows from investing activities
Proceeds from the sale and maturity of short-term investments		206,488				256,101
Purchase of short-term investments		(50,197	)			(254,448	)
Acquisition of businesses, net of cash acquired		(54,889	)			—
Capitalization of internal-use software		(9,858	)			(9,331	)
Purchase of intangible assets		(504	)			(986	)
Purchases of property and equipment		(1,203	)			(981	)
Proceeds from the sale of property and equipment		10				21
Net cash provided by (used in) investing activities		89,847				(9,624	)
Cash flows from financing activities
Proceeds from issuance of long-term debt, net of issuance costs		115,472				—
Payment of deferred financing costs		(3,000	)			—
Proceeds from employee stock purchase plan		2,061				3,206
Proceeds from exercise of stock options		169				937
Repurchase of common stock		—				(1,808	)
Repayment of seller-financed debt		(646	)			—
Net cash provided by financing activities		114,056				2,335
Effect of exchange rate changes on cash and cash equivalents		62				(13	)
Net increase (decrease) in cash and cash equivalents		222,051				(21,341	)
Cash and cash equivalents at beginning of period		106,276				116,312
Cash and cash equivalents at end of period	$	328,327			$	94,971

Non-GAAP Financial Measures

To supplement our financial information presented in accordance with GAAP, we believe certain non-GAAP measures, including Adjusted Gross Profit, Adjusted Gross Margin, Adjusted EBITDA, Adjusted Net Income, and Adjusted Net Income per share, basic and diluted, are useful in evaluating our operating performance. For example, we exclude stock-based compensation expense because it is non-cash in nature and excluding this expense provides meaningful supplemental information regarding our operational performance and allows investors the ability to make more meaningful comparisons between our operating results and those of other companies. We use this non-GAAP financial information to evaluate our ongoing operations, as a component in determining employee bonus compensation, and for internal planning and forecasting purposes.

We believe that non-GAAP financial information, when taken collectively, may be helpful to investors because it provides consistency and comparability with past financial performance. However, non-GAAP financial information is presented for supplemental informational purposes only, has limitations as an analytical tool and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP. In addition, other companies, including companies in our industry, may calculate similarly-titled non-GAAP measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for comparison. A reconciliation is provided below for each non-GAAP financial measure to the most directly comparable financial measure stated in accordance with GAAP. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures, and not to rely on any single financial measure to evaluate our business.

Adjusted Gross Profit and Adjusted Gross Margin

Gross profit is a GAAP financial measure that is calculated as revenue less cost of revenue, including depreciation and amortization of capitalized software development costs and acquired technology. We calculate gross margin as gross profit divided by our revenue. Adjusted Gross Profit is a non-GAAP financial measure that we define as gross profit, adjusted for (i) depreciation and amortization, (ii) stock-based compensation, (iii) acquisition-related costs, net, and (iv) restructuring costs, as applicable. We define Adjusted Gross Margin as our Adjusted Gross Profit divided by our revenue. We believe Adjusted Gross Profit and Adjusted Gross Margin are useful to investors as they eliminate the impact of certain non-cash expenses, as well as certain other non-recurring operating expenses, and allow a direct comparison of these measures between periods without the impact of non-cash expenses and certain other non-recurring operating expenses.

We present both of these measures for our technology and professional services business. We believe these non-GAAP measures are useful in evaluating our operating performance compared to that of other companies in our industry, as these metrics generally eliminate the effects of certain items that may vary from company to company for reasons unrelated to overall profitability.

The following is a calculation of our gross profit and gross margin and a reconciliation of gross profit and gross margin to our Adjusted Gross Profit and Adjusted Gross Margin in total and for technology and professional services for the three months ended September 30, 2024 and 2023.

	Three Months Ended September 30, 2024
	(in thousands, except percentages)
	Technology				Professional Services				Total
Revenue	$	48,653			$	27,700			$	76,353
Cost of revenue, excluding depreciation and amortization		(17,609	)			(24,704	)			(42,313	)
Amortization of intangible assets, cost of revenue		(3,741	)			—				(3,741	)
Depreciation of property and equipment, cost of revenue		(2,541	)			—				(2,541	)
Gross profit		24,762				2,996				27,758
Gross margin		51	%			11	%			36	%
Add:
Amortization of intangible assets, cost of revenue		3,741				—				3,741
Depreciation of property and equipment, cost of revenue		2,541				—				2,541
Stock-based compensation		450				1,601				2,051
Acquisition-related costs, net(1)		77				121				198
Adjusted Gross Profit	$	31,571			$	4,718			$	36,289
Adjusted Gross Margin		65	%			17	%			48	%

___________________
(1)   Acquisition-related costs, net include deferred retention expenses attributable to the Lumeon, Carevive, ARMUS, and KPI Ninja acquisitions.

	Three Months Ended September 30, 2023
	(in thousands, except percentages)
	Technology				Professional Services				Total
Revenue	$	45,973			$	27,800			$	73,773
Cost of revenue, excluding depreciation and amortization		(15,169	)			(26,618	)			(41,787	)
Amortization of intangible assets, cost of revenue		(4,390	)			—				(4,390	)
Depreciation of property and equipment, cost of revenue		(2,257	)			—				(2,257	)
Gross profit		24,157				1,182				25,339
Gross margin		53	%			4	%			34	%
Add:
Amortization of intangible assets, cost of revenue		4,390				—				4,390
Depreciation of property and equipment, cost of revenue		2,257				—				2,257
Stock-based compensation		497				1,927				2,424
Acquisition-related costs, net(1)		66				96				162
Adjusted Gross Profit	$	31,367			$	3,205			$	34,572
Adjusted Gross Margin		68	%			12	%			47	%

___________________
(1)   Acquisition-related costs, net include deferred retention expenses attributable to the ARMUS and KPI Ninja acquisitions.

Adjusted EBITDA

Adjusted EBITDA is a non-GAAP financial measure that we define as net loss adjusted for (i) interest and other (income) expense, net, (ii) income tax provision (benefit), (iii) depreciation and amortization, (iv) stock-based compensation, (v) acquisition-related costs, net, and (vi) litigation costs. We view acquisition-related expenses when applicable, such as transaction costs and changes in the fair value of contingent consideration liabilities that are directly related to business combinations, as costs that are unpredictable, dependent upon factors outside of our control, and are not necessarily reflective of operational performance during a period. We believe that excluding litigation costs allows for more meaningful comparisons between operating results from period to period as these are separate from the core activities that arise in the ordinary course of our business and are not part of our ongoing operations. We believe Adjusted EBITDA provides investors with useful information on period-to-period performance as evaluated by management and a comparison with our past financial performance, and is useful in evaluating our operating performance compared to that of other companies in our industry, as this metric generally eliminates the effects of certain items that may vary from company to company for reasons unrelated to overall operating performance. The following is a reconciliation of our net loss, the most directly comparable GAAP financial measure, to Adjusted EBITDA, for the three months ended September 30, 2024 and 2023:

	Three Months Ended September 30,
		2024				2023
	(in thousands)
Net loss	$	(14,726	)		$	(22,032	)
Add:
Interest and other (income) expense, net		1,514				(2,607	)
Income tax provision (benefit)		(475	)			59
Depreciation and amortization		9,983				10,190
Stock-based compensation		9,512				14,232
Acquisition-related costs, net(1)		1,487				2,126
Litigation costs(2)		—				24
Adjusted EBITDA	$	7,295			$	1,992

__________________
(1)   Acquisition-related costs, net include third-party fees associated with due diligence, deferred retention expenses, post-acquisition restructuring costs incurred as part of business combinations, and changes in fair value of contingent consideration liabilities for potential earn-out payments.
(2)   Litigation costs include costs related to litigation that are outside the ordinary course of our business. For additional details, refer to Note 15 in our condensed consolidated financial statements.

Adjusted Net Income and Adjusted Net Income Per Share

Adjusted Net Income is a non-GAAP financial measure that we define as net loss adjusted for (i) stock-based compensation, (ii) amortization of acquired intangibles, (iii) acquisition-related costs, net, including the change in fair value of contingent consideration liabilities, (iv) litigation costs, (v) non-recurring lease-related charges, and (vi) non-cash interest expense related to debt facilities. We believe Adjusted Net Income provides investors with useful information on period-to-period performance as evaluated by management and comparison with our past financial performance and is useful in evaluating our operating performance compared to that of other companies in our industry, as this metric generally eliminates the effects of certain items that may vary from company to company for reasons unrelated to overall operating performance.

	Three Months Ended September 30,
		2024				2023
Numerator:	(in thousands, except share and per share amounts)
Net loss	$	(14,726	)		$	(22,032	)
Add:
Stock-based compensation		9,512				14,232
Amortization of acquired intangibles		6,839				7,063
Acquisition-related costs, net(1)		1,487				2,126
Litigation costs(2)		—				24
Non-recurring lease-related charges(3)		—				—
Non-cash interest expense related to debt facilities		1,319				378
Adjusted Net Income	$	4,431			$	1,791
Denominator:
Weighted-average shares outstanding used in calculating net loss per share, basic and diluted, and Adjusted Net Income per share, basic		60,440,694				56,710,602
Non-GAAP dilutive effect of stock-based awards		265,889				857,570
Non-GAAP weighted-average shares outstanding used in calculating Adjusted Net Income per share, diluted		60,706,583				57,568,172
Net loss per share, basic and diluted	$	(0.24	)		$	(0.39	)
Adjusted Net Income per share, basic	$	0.07			$	0.03
Adjusted Net Income per share, diluted	$	0.07			$	0.03

______________
(1)   Acquisition-related costs, net includes third-party fees associated with due diligence, deferred retention expenses, post-acquisition restructuring costs incurred as part of business combinations, and changes in fair value of contingent consideration liabilities for potential earn-out payments.
(2)   Litigation costs include costs related to litigation that are outside the ordinary course of our business. For additional details, refer to Note 15 in our condensed consolidated financial statements.
(3)   Non-recurring lease-related charges include the lease-related impairment charge related to our corporate office space designated for subleasing. For additional details, refer to Note 9 in our condensed consolidated financial statements.

Health Catalyst Investor Relations Contact:
Jack Knight
Vice President, Investor Relations
+1 (855)-309-6800
ir@healthcatalyst.com

Health Catalyst Media Contact:
Amanda Flanders
SVP, Marketing and Communications
media@healthcatalyst.com

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FAQ

What was Health Catalyst's (HCAT) revenue in Q3 2024?

Health Catalyst reported total revenue of $76.4 million in Q3 2024, representing a 3% increase year-over-year.

How much did Health Catalyst's (HCAT) Adjusted EBITDA improve in Q3 2024?

Health Catalyst's Adjusted EBITDA increased by 266% year-over-year to $7.3 million in Q3 2024.

What was Health Catalyst's (HCAT) gross margin in Q3 2024?

Health Catalyst's gross margin was 36% in Q3 2024, up from 34% in the same period of 2023.

How much did Health Catalyst (HCAT) raise its 2024 Adjusted EBITDA guidance?

Health Catalyst raised its 2024 Adjusted EBITDA guidance by $1 million.