The 11% revenue decline and massive impairment signal structural headwinds; despite adjusted EBITDA growth, the top-line contraction and lowered full-year outlook suggest the strategic reset will take time. Monitor client churn from the DOS-to-Ignite migration and any further impairments.
Price Chart
Executive Summary
Health Catalyst reported Q1 2026 revenue of $70.8M, down 11% YoY, with a GAAP net loss of $111M including a $95.5M goodwill impairment. Adjusted EPS of $0.02 beat consensus of -$0.09, and full-year 2026 revenue guidance of $260-265M implies continued contraction vs 2025's $311M.
Key Financial Metrics
Key Facts
- Q1 2026 revenue $70.8M, down 11% YoY from $79.4M
- GAAP net loss $111M vs $23.7M loss a year ago, driven by $95.5M goodwill impairment
- Adjusted EPS $0.02 vs consensus -$0.09 (beat)
- Adjusted EBITDA $9.1M, up 46% YoY from $6.3M
- Full-year 2026 revenue guided to $260-265M, below 2025's $311M
- Q2 2026 revenue guidance $68-70M, roughly in line with Q1 run rate
Financial Impact
Revenue decline of ~$8.7M YoY; $95.5M non-cash goodwill impairment; full-year outlook implies ~15% revenue contraction at midpoint
Risk Factors
- Continued revenue decline from professional services and technology segments
- Potential additional goodwill or asset impairments
- Client churn or down-selling related to platform migration
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001636422-26-000064 |
| Document: hcat-20260511.htm | 0001636422-26-000064 |
| Document: 0001636422-26-000064-index-headers.html | 0001636422-26-000064 |
| Document: 0001636422-26-000064-index.html | 0001636422-26-000064 |
| Document: 0001636422-26-000064.txt | 0001636422-26-000064 |
| 8-K Data (Synthetic) | 0001636422-26-000064 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 5d ago | Press Release | $1.74 | awaiting T+20 | — | $1.57 (−9.77%) |
Oct 5, 2026 22d ago | 3 | $1.77 | awaiting T+20 | — | $1.57 (−11.30%) |
Sep 14, 2026 6w ago | 8-K | $1.72 $1.74 | ▲ +1.16% | ▼ −1.56% | $1.57 (−8.72%) |
Jul 28, 2026 12w ago | Press Release | $2.16 | awaiting T+20 | — | $1.57 (−27.31%) |
Jun 4, 2026 20w ago | 8-K | $1.94 $2.08 | ▲ +7.22% | ▲ +8.59% | $1.57 (−19.07%) |
Jun 3, 2026 20w ago | DEFA14A | $1.94 $2.08 | ▲ +7.22% | ▲ +8.59% | $1.57 (−19.07%) |
May 11, 2026 24w ago | 8-K | $1.48 $1.60 | ▼ −8.11% | ▼ −9.84% | $1.57 (−6.08%) |
May 1, 2026 25w ago | Press Release | $1.45 $1.39 | ▼ −4.14% | ▼ −9.42% | $1.57 (+8.28%) |
Apr 30, 2026 25w ago | 10-K/A | $1.45 $1.39 | ▼ −4.14% | ▼ −9.40% | $1.57 (+8.28%) |
Apr 30, 2026 25w ago | Press Release | $1.25 $1.40 | ▲ +12.00% | ▲ +7.03% | $1.57 (+25.60%) |
US Market Status
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