Business
Health Catalyst Reports Third Quarter 2021 Results
SALT LAKE CITY, Nov. 09, 2021 (GLOBE NEWSWIRE) -- Health Catalyst, Inc. ("Health Catalyst," Nasdaq: HCAT), a leading provider of data and analytics technology
About this update from Health Catalyst, Inc
[{"type":"text","content":"SALT LAKE CITY, Nov. 09, 2021 (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, 2021. “In the third quarter of 2021, I am pleased to share that we achieved strong performance across our business, including exceeding the mid-point of our quarterly guidance for both revenue and Adjusted EBITDA,” said Dan Burton, CEO of Health Catalyst. “In addition to this financial and operational execution, we held our eighth annual Healthcare Analytics Summit conference in September, hosting more than 3,000 registrants representing more than 675 organizations and 18 countries. This year’s Summit was an important opportunity for Health Catalyst to continue to provide thought leadership within the healthcare data and analytics ecosystem, while further cultivating and deepening our relationships with customers and prospects.” Financial Highlights for the Three Months Ended September 30, 2021 Key Financial Metrics Three Months Ended September 30, 2021 2020 Year over Year ChangeGAAP Financial Data:(in thousands, except percentages, unaudited)Technology revenue$38,262 $27,964 37%Professional services revenue$23,475 $19,227 22%Total revenue$61,737 $47,191 31%Loss from operations$(42,249) $(23,458) (80)%Net loss$(40,014) $(27,326) (46)%Other Non-GAAP Financial Data:(1) Adjusted Technology Gross Profit$26,731 $19,115 40%Adjusted Technology Gross Margin70 % 68 % Adjusted Professional Services Gross Profit$4,696 $4,823 (3)%Adjusted Professional Services Gross Margin20 % 25 % Total Adjusted Gross Profit$31,427 $23,938 31%Total Adjusted Gross Margin51 % 51 % Adjusted EBITDA$(5,794) $(6,434) 10% _____________________ (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 four...