SALT LAKE CITY, Oct. 27, 2023 /PRNewswire/ — Health Catalyst, Inc. (“Health Catalyst,”Nasdaq: HCAT), a number one supplier of information and analytics expertise and companies to healthcare organizations, immediately reported preliminary monetary outcomes for the quarter ended September 30, 2023. Given latest market and sector dynamics, we’re reporting our preliminary monetary outcomes and offering fourth quarter and up to date full 12 months 2023 steering upfront of the date of our launch of our full third quarter 2023 working outcomes.

We are additionally updating the date of the discharge of our full third quarter 2023 working outcomes to Thursday, November 2, 2023, after market shut.  In conjunction, we are going to host a convention name to evaluate the outcomes at 5:00 p.m. E.T. on the identical day.  Please notice that that is an replace relative to the beforehand introduced earnings convention name timing. See beneath for quarterly convention name particulars.

“For the third quarter of 2023, I am pleased by our strong preliminary financial results, including total revenue of $73.8 million and Adjusted EBITDA of $2.0 million, with these results beating the mid-point of our quarterly guidance on each metric.  Additionally, we are grateful to be in a position to raise our full year 2023 revenue guidance range and reiterate our full year 2023 Adjusted EBITDA guidance range.  We are also encouraged by our bookings results through Q3 2023, which are in line with our expectations,” stated Dan Burton, CEO of Health Catalyst.

Our monetary data is preliminary and unaudited and topic to alter as we full our monetary statements as of and for the three months ended September 30, 2023. Our preliminary monetary outcomes as set forth herein are based mostly on data at the moment accessible to administration. This preliminary monetary data has been ready by, and is the accountability of, administration. In addition, preliminary estimates could also be topic to revision as we put together our monetary statements and disclosures for the three and 9 months ended September 30, 2023. As a consequence, and in reference to our quarterly closing and evaluate course of for the third quarter of 2023, we might establish gadgets that will require changes to the preliminary monetary outcomes as set forth herein. The last outcomes and different disclosures as of September 30, 2023 and for the three months ended September 30, 2023 might differ materially from the preliminary monetary outcomes.

Financial Highlights for the Three Months Ended September 30, 2023

Key Financial Metrics

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Financial Outlook

Health Catalyst gives forward-looking steering on complete income, a GAAP measure, and Adjusted EBITDA, a non-GAAP measure.

For the fourth quarter of 2023, we count on:

• Total income between $70.1 million and $75.1 million, and
• Adjusted EBITDA between $0.3 million and $2.3 million

For the complete 12 months of 2023, we count on:

• Total income between $291.0 million and $296.0 million, and
• Adjusted EBITDA between $10.0 million and $12.0 million

We haven’t reconciled steering for Adjusted EBITDA to internet loss, probably the most instantly comparable GAAP measure, and haven’t offered forward-looking steering for internet loss, as a result of there are gadgets that will impression internet loss, together with stock-based compensation, that aren’t inside our management or can’t be moderately forecasted.

Quarterly Conference Call Details

We will host a convention name to evaluate the complete third quarter 2023 working outcomes on Thursday, November 2, 2023, at 5:00 p.m. E.T. The convention name will be accessed by dialing (800)-225-9448 for U.S. members, or 203-518-9708 for worldwide members, and referencing convention ID “HCAT Q323.” A stay audio webcast shall be accessible on-line at https://ir.healthcatalyst.com/. A replay of the decision shall be accessible by way of webcast for on-demand listening shortly after the completion of the decision, on the similar internet hyperlink, and can stay accessible for roughly 90 days.

About Health Catalyst

Health Catalyst is a number one supplier of information and analytics expertise and companies to healthcare organizations dedicated to being the catalyst for large, measurable, data-informed healthcare enchancment. Its purchasers leverage the cloud-based information platform — powered by information from greater than 100 million affected person information and encompassing trillions of details—in addition to its analytics software program {and professional} companies experience to make data-informed selections and understand measurable medical, monetary, and operational enhancements. Health Catalyst envisions a future wherein all healthcare selections are information knowledgeable.

Available Information

Our buyers and others ought to notice that we announce materials data to the general public about our firm, services, and different issues associated to our firm by a wide range of means, together with our web site (https://www.healthcatalyst.com/), our investor relations web site (https://ir.healthcatalyst.com/), press releases, SEC filings, public convention calls, and social media, together with our and our CEO’s social media accounts, to be able to obtain broad, non-exclusionary distribution of data to the general public and to adjust to our disclosure obligations underneath Regulation FD.

Forward-Looking Statements

This launch comprises forward-looking statements throughout the that means 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 embrace statements concerning our monetary outlook for This autumn and financial 12 months 2023. Forward-looking statements are topic to dangers and uncertainties and are based mostly on doubtlessly inaccurate assumptions that might trigger precise outcomes to vary materially from these anticipated or implied by the forward-looking statements. Actual outcomes might differ materially from the outcomes predicted, and reported outcomes shouldn’t be thought-about as a sign of our precise monetary outcomes or future efficiency.

Important dangers and uncertainties that might trigger our precise outcomes and monetary situation to vary materially from these indicated within the forward-looking statements embrace, amongst others, the next: (i) adjustments in legal guidelines and rules relevant to our enterprise mannequin; (ii) adjustments in market or trade situations, regulatory atmosphere, and receptivity to our expertise and companies; (iii) outcomes of litigation or a safety incident; (iv) the lack of a number of key purchasers or companions; (v) the impression of the difficult macroeconomic atmosphere (together with excessive inflationary and/or excessive rate of interest environments) on our enterprise and outcomes of operations; and (vi) adjustments to our skills to recruit and retain certified staff members. For an in depth dialogue of the chance elements that might have an effect on our precise outcomes, please consult with the chance elements recognized in our SEC reviews, together with, however not restricted to the Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2023 that shall be filed with the SEC no later than November 9, 2023 and the Annual Report on Form 10-Okay for the 12 months ended December 31, 2022 filed with the SEC on February 28, 2023. All data offered on this launch and within the attachments is as of the date hereof, and we undertake no responsibility to replace or revise this data until required by regulation.

Non-GAAP Financial Measures

To complement our monetary data offered in accordance with GAAP, we imagine sure non-GAAP measures, together with Adjusted Gross Profit, Adjusted Gross Margin, and Adjusted EBITDA, are helpful in evaluating our working efficiency. For instance, we exclude stock-based compensation expense as a result of it’s non-cash in nature and excluding this expense gives significant supplemental data concerning our operational efficiency and permits buyers the power to make extra significant comparisons between our working outcomes and people of different firms. We use this non-GAAP monetary data to guage our ongoing operations, as a element in figuring out worker bonus compensation, and for inner planning and forecasting functions.

We imagine that non-GAAP monetary data, when taken collectively, could also be useful to buyers as a result of it gives consistency and comparability with previous monetary efficiency. However, non-GAAP monetary data is offered for supplemental informational functions solely, has limitations as an analytical instrument and shouldn’t be thought-about in isolation or as an alternative choice to monetary data offered in accordance with GAAP. In addition, different firms, together with firms in our trade, might calculate similarly-titled non-GAAP measures otherwise or might use different measures to guage their efficiency. A reconciliation is offered beneath for every non-GAAP monetary measure to probably the most instantly comparable monetary measure acknowledged in accordance with GAAP. Investors are inspired to evaluate the associated GAAP monetary measures and the reconciliation of those non-GAAP monetary measures to their most instantly comparable GAAP monetary measures, and to not depend on any single monetary measure to guage our enterprise.

Adjusted Gross Profit and Adjusted Gross Margin

Adjusted Gross Profit is a non-GAAP monetary measure that we outline as income much less value of income, excluding depreciation and amortization, including again stock-based compensation, acquisition-related prices, internet, and restructuring prices, as relevant. We outline Adjusted Gross Margin as our Adjusted Gross Profit divided by our income. We imagine Adjusted Gross Profit and Adjusted Gross Margin are helpful to buyers as they get rid of the impression of sure non-cash bills and permit a direct comparability of those measures between intervals with out the impression of non-cash bills and sure different non-recurring working bills. The following is a reconciliation of income, probably the most instantly comparable GAAP monetary measure, to Adjusted Gross Profit, for the three months ended September 30, 2023 and 2022:

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Adjusted EBITDA

Adjusted EBITDA is a non-GAAP monetary measure that we outline as internet loss adjusted for (i) curiosity and different (earnings) expense, internet, (ii) earnings tax provision (profit), (iii) depreciation and amortization, (iv) stock-based compensation, (v) acquisition-related prices, internet, (vi) litigation prices, (vii) restructuring prices, and (viii) non-recurring lease-related prices. We view acquisition-related bills when relevant, equivalent to transaction prices and adjustments within the honest worth of contingent consideration liabilities which might be instantly associated to enterprise combos, as prices which might be unpredictable, dependent upon elements exterior of our management, and aren’t essentially reflective of operational efficiency throughout a interval. We imagine that excluding restructuring prices and litigation prices permits for extra significant comparisons between working outcomes from interval to interval as these are separate from the core actions that come up within the bizarre course of our enterprise and aren’t a part of our ongoing operations. We imagine Adjusted EBITDA gives buyers with helpful data on period-to-period efficiency as evaluated by administration and a comparability with our previous monetary efficiency, and is helpful in evaluating our working efficiency in comparison with that of different firms in our trade, as this metric usually eliminates the results of sure gadgets that will range from firm to firm for causes unrelated to general working efficiency. The following is a reconciliation of our internet loss, probably the most instantly comparable GAAP monetary measure, to Adjusted EBITDA, for the  three months ended September 30, 2023 and 2022:

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Health Catalyst Investor Relations Contact:
Adam Brown
Senior Vice President, Investor Relations and FP&A
+1 (855)-309-6800
ir@healthcatalyst.com

Health Catalyst Media Contact:
Tarah Neujahr Bryan
Chief Marketing Officer
media@healthcatalyst.com

SOURCE Health Catalyst