Welcome to our dedicated page for Health Catalyst news (Ticker: HCAT), a resource for investors and traders seeking the latest updates and insights on Health Catalyst stock.
Health Catalyst, Inc. (Nasdaq: HCAT) is a leading provider of data and analytics technology and services to healthcare organizations. Founded by healthcare veterans, the company specializes in building comprehensive data warehousing and process improvement solutions, aiming to significantly enhance healthcare delivery. Health Catalyst's innovative solutions are powered by its adaptive data architecture, which uses a late-binding bus model for agile and quick implementation.
The company operates primarily through two segments: Technology and Professional Services. The Technology segment is the key revenue driver, providing data platforms, analytics applications, and support services under cloud-based subscriptions, time-based licenses, and maintenance agreements. The Professional Services segment offers analytics, implementation, strategic advisory, outsourcing, and improvement services, enabling clients to maximize the utility of Health Catalyst's technological offerings.
Health Catalyst has recently gained recognition with several achievements:
- VitalCDM: Ranked number one in the Revenue Cycle - Chargemaster Management category of the 2024 Best in KLAS: Software & Services.
- MeasureAble™: Achieved ONC-Health IT 2015 Edition Certification, allowing its use for various quality reporting programs.
- Able Health Registry: Received QPP Qualified Registry approval for the 2024 performance year from CMS.
- Acquisition of Carevive Systems: Strengthened their capabilities in oncology data analytics, improving patient care and outcomes.
Financially, Health Catalyst continues to show promising trends, with forward-looking revenue and EBITDA guidance indicating growth. The company frequently updates its investors through quarterly earnings calls and reports, reflecting transparency and financial health.
Health Catalyst envisions a future where all healthcare decisions are data-informed, leveraging a cloud-based data platform encompassing over 100 million patient records and trillions of data points. This commitment to data-informed decision-making is at the core of its mission to drive measurable improvements in clinical, financial, and operational metrics for healthcare organizations.
For more information, visit the Health Catalyst Investor Relations page.
Health Catalyst, Inc. reported strong financial results for the first quarter of 2024, with total revenue of $74.7 million and Adjusted EBITDA of $3.4 million, beating guidance mid-points. The company remains focused on long-term profitability goals and reaffirmed its full-year guidance for 2024. Key metrics show growth in gross profit and margins, with a 1% increase in total revenue year over year. However, there was a 19% decrease in Adjusted EBITDA compared to the same period last year.
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