Health Catalyst, Inc. (HCAT) Revenue History
Annual and quarterly revenue from 2017 to 2025
Compound Annual Growth Rate (CAGR)
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HCAT Revenue Growth
Revenue Breakdown (FY 2025)
HCAT's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
HCAT Revenue Analysis (2017–2025)
As of May 8, 2026, Health Catalyst, Inc. (HCAT) generated trailing twelve-month (TTM) revenue of $311.1 million, reflecting moderate decline in growth of -6.2% year-over-year. The most recent quarter (Q4 2025) recorded $74.7 million in revenue, down 2.2% sequentially.
Looking at the longer-term picture, HCAT's 5-year compound annual growth rate (CAGR) stands at +10.5%, indicating consistent double-digit revenue growth. The company achieved its highest annual revenue of $311.1 million in 2025, representing a new all-time high.
Revenue diversification analysis shows HCAT's business is primarily driven by Recurring Technology (100%). With over half of revenue concentrated in Recurring Technology, the company maintains significant focus in this area while developing other growth vectors.
When compared to Healthcare sector peers including HIMS (+59.0% YoY), DOCS (+15.9% YoY), and INVA (+13.6% YoY), HCAT has underperformed the peer group in terms of revenue growth. Compare HCAT vs HIMS →
HCAT Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| HCATCurrent | $311M | -6.2% | +10.5% | -51.7% | |
 HIMS | $2.3B | +59.0% | +73.6% | 5.2% | |
 DOCS | $570M | +15.9% | +37.4% | 39.9% | |
 INVA | $425M | +13.6% | +4.8% | 38.5% | |
 TDOC | $2.5B | -1.5% | +18.3% | -10.4% | |
 PINC | $1.0B | -16.2% | -4.9% | 0.1% |
HCAT Historical Revenue Data (2017–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $311.1M | +1.5% | $151.7M | 48.7% | $-160,854,000 | -51.7% |
| 2024 | $306.6M | +3.6% | $140.8M | 45.9% | $-69,806,000 | -22.8% |
| 2023 | $295.9M | +7.1% | $131.8M | 44.5% | $-126,897,000 | -42.9% |
| 2022 | $276.2M | +14.2% | $133.2M | 48.2% | $-140,005,000 | -50.7% |
| 2021 | $241.9M | +28.1% | $117.6M | 48.6% | $-143,650,000 | -59.4% |
| 2020 | $188.8M | +21.9% | $90.8M | 48.1% | $-96,125,000 | -50.9% |
| 2019 | $154.9M | +37.6% | $79.6M | 51.4% | $-54,865,000 | -35.4% |
| 2018 | $112.6M | +54.0% | $52.7M | 46.8% | $-60,095,000 | -53.4% |
| 2017 | $73.1M | - | $29.4M | 40.3% | $-45,540,000 | -62.3% |
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Start ComparisonHCAT — Frequently Asked Questions
Quick answers to the most common questions about buying HCAT stock.
Is HCAT's revenue growth accelerating or slowing?
HCAT revenue declined -6.2% year-over-year, contrasting with the 5-year CAGR of +10.5%. TTM revenue fell to $311M. This reverses the prior growth trend.
What is HCAT's long-term revenue growth rate?
Health Catalyst, Inc.'s 5-year revenue CAGR of +10.5% reflects the variable expansion pattern. Current YoY growth of -6.2% is below this long-term average.
How is HCAT's revenue distributed by segment?
HCAT reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2017-2025 are available for download. Segment mix reveals concentration and diversification trends.