Health Catalyst, Inc. (HCAT)

Nasdaq · Common Stock · Services-Computer Programming, Data Processing, Etc.

One email a week from me: what it filed, which 13F holders added or cut, where its scores stand. Free.

Corporate structure

6 entities across 4 jurisdictions. Read directly from the company’s own 10-K EX-21 filed 2026-03-12 — see the exhibit.

Which other public companies file entities in the same places:

England and Wales2 India2 Australia1 Singapore1

Subsidiaries of Health Catalyst, Inc. as disclosed in its SEC filing
Entity	Jurisdiction	Note
Health Catalyst Australia PTY LTD	Australia
Health Catalyst UK Ltd	England and Wales
Health Catalyst India Private Limited	India
Health Catalyst Singapore Pte. Ltd.	Singapore
Lumeon Ltd	England and Wales
PatientBond India Private Limited	India

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

4 / 8

FAILReturn on assets positiveROA -35.4%
PASSOperating cash flow positiveOCF 731000.0
FAILReturn on assets improving-8.1% → -35.4%
PASSCash flow exceeds earningsOCF 731000.0 vs NI -178M
FAILLong-term debt ratio falling17.6% → 30.2% of assets
PASSCurrent ratio improving1.43 → 1.89
FAILNo share dilution60M → 70M shares
FAILGross margin improvingno gross profit reported
PASSAsset turnover improving0.36× → 0.62×

Six-year record

Year	Revenue	Net income	Free cash flow	Gross margin	Shares
FY2020	$188.8M	−$115.0M	−$33.9M	—	39,540,726
FY2021	$241.9M	−$153.2M	−$33.6M	—	47,494,768
FY2022	$276.2M	−$137.4M	−$37.4M	—	54,079,732
FY2023	$295.9M	−$118.1M	−$34.3M	—	56,418,397
FY2024	$306.6M	−$69.5M	$12.9M	—	60,184,920
FY2025	$311.1M	−$178.0M	−$237,000	—	69,896,134

Ownership flow

11 institutions tracked — 3 added, 8 reduced.

Institutional holders of Health Catalyst, Inc. and their share-count change
Manager	Kind	Shares	Change	Value
BlackRock, Inc.	Index	1,836,373	−3,301,649	$3.7M
STATE STREET CORP	Index	360,713	−964,136	$717,819
JPMORGAN CHASE & CO	Active fund	1,947	−676,002	$3,816
GEODE CAPITAL MANAGEMENT, LLC	Index	891,357	−610,076	$1.8M
CITADEL ADVISORS LLC	Hedge fund	546,714	+479,914	$1.1M
AQR CAPITAL MANAGEMENT LLC	Hedge fund	376,586	−166,658	$749,406
RENAISSANCE TECHNOLOGIES LLC	Hedge fund	349,266	+132,197	$695,039
BANK OF AMERICA CORP /DE/	Active fund	52,461	−43,269	$104,397
FMR LLC	Active fund	410,637	+43,164	$817,166
PRICE T ROWE ASSOCIATES INC /MD/	Active fund	67,863	−31,347	$136,000
MORGAN STANLEY	Active fund	106,127	−28,053	$211,196

From 13F filings, which cover institutions managing over $100m and are filed up to 45 days after the quarter ends — so this is a considered position, not a live one, and it is not the whole shareholder register.

Capital returned

What the company actually paid out and bought back, as reported — the record behind any yield figure.

Shares repurchased

2026Q1: $0
2025Q1: $5.0M
2024Q1: $0
2023Q1: $1.8M
2022Q1: $0

Identity

CIK: 0001636422
LEI: 549300223PL6GWKVJG92
FIGI: BBG00LDPZMS6
SIC: 7370 · Services-Computer Programming, Data Processing, Etc.
Incorporated: DE
Headquarters: SOUTH JORDAN, UT

Ownership

Institutional: 71.5%
Institutions: 161
Insiders: 5.7%

Ownership percentages are a vendor aggregate, not a filing — unlike everything else on this page.

Other services-computer programming, data processing, etc. companies

Health Catalyst, Inc. files under SIC 7370 — all 21 services-computer programming, data processing, etc. companies compared on assets and F-score.

Alphabet Inc.GOOGL Meta Platforms, Inc.META Flutter Entertainment plcFLUT Zoom Communications, Inc.ZM Snap IncSNAP People IncPPLI

Questions about Health Catalyst, Inc.

How many subsidiaries does Health Catalyst, Inc. file with the SEC?: 6, listed in its most recent exhibit 21. They are incorporated across 4 jurisdictions (Australia, England and Wales, India, Singapore). That exhibit is filed with the company's annual report and is the company's own list, not an estimate.
Is Health Catalyst, Inc. financially healthy?: Health Catalyst, Inc. scores 4 out of 8 on the Piotroski F-score. Only 8 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.
Who are the largest institutional holders of Health Catalyst, Inc.?: Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are BlackRock, Inc. (trimming), GEODE CAPITAL MANAGEMENT, LLC (trimming), CITADEL ADVISORS LLC (adding). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.

This page is one panel of the terminal

The structure map above is the Corporate Blueprint, and in the desktop it is interactive — click any entity to re-centre the map on it and walk the ownership chain. It sits alongside the screener, the scorecard and the filings lab on one desk, on your machine.

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Sourced from SEC EDGAR primary filings. Figures are as reported by the company and are not investment advice. Scores are standard published screens computed from those filings; every input is shown above so you can check the arithmetic.

Corporate structure

6 entities across 4 jurisdictions. Read directly from the company’s own 10-K EX-21 filed 2026-03-12 — see the exhibit.

Entity

Jurisdiction

Note

Health Catalyst Australia PTY LTD

Australia

Health Catalyst UK Ltd

England and Wales

Health Catalyst India Private Limited

India

Health Catalyst Singapore Pte. Ltd.

Singapore

Lumeon Ltd

England and Wales

PatientBond India Private Limited

India

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

4 / 8

FAILReturn on assets positiveROA -35.4%
PASSOperating cash flow positiveOCF 731000.0
FAILReturn on assets improving-8.1% → -35.4%
PASSCash flow exceeds earningsOCF 731000.0 vs NI -178M
FAILLong-term debt ratio falling17.6% → 30.2% of assets
PASSCurrent ratio improving1.43 → 1.89
FAILNo share dilution60M → 70M shares
FAILGross margin improvingno gross profit reported
PASSAsset turnover improving0.36× → 0.62×

Six-year record

Year	Revenue	Net income	Free cash flow	Gross margin	Shares
FY2020	$188.8M	−$115.0M	−$33.9M	—	39,540,726
FY2021	$241.9M	−$153.2M	−$33.6M	—	47,494,768
FY2022	$276.2M	−$137.4M	−$37.4M	—	54,079,732
FY2023	$295.9M	−$118.1M	−$34.3M	—	56,418,397
FY2024	$306.6M	−$69.5M	$12.9M	—	60,184,920
FY2025	$311.1M	−$178.0M	−$237,000	—	69,896,134

Ownership flow

11 institutions tracked — 3 added, 8 reduced.

Institutional holders of Health Catalyst, Inc. and their share-count change
Manager	Kind	Shares	Change	Value
BlackRock, Inc.	Index	1,836,373	−3,301,649	$3.7M
STATE STREET CORP	Index	360,713	−964,136	$717,819
JPMORGAN CHASE & CO	Active fund	1,947	−676,002	$3,816
GEODE CAPITAL MANAGEMENT, LLC	Index	891,357	−610,076	$1.8M
CITADEL ADVISORS LLC	Hedge fund	546,714	+479,914	$1.1M
AQR CAPITAL MANAGEMENT LLC	Hedge fund	376,586	−166,658	$749,406
RENAISSANCE TECHNOLOGIES LLC	Hedge fund	349,266	+132,197	$695,039
BANK OF AMERICA CORP /DE/	Active fund	52,461	−43,269	$104,397
FMR LLC	Active fund	410,637	+43,164	$817,166
PRICE T ROWE ASSOCIATES INC /MD/	Active fund	67,863	−31,347	$136,000
MORGAN STANLEY	Active fund	106,127	−28,053	$211,196

Questions about Health Catalyst, Inc.

How many subsidiaries does Health Catalyst, Inc. file with the SEC?

6, listed in its most recent exhibit 21. They are incorporated across 4 jurisdictions (Australia, England and Wales, India, Singapore). That exhibit is filed with the company's annual report and is the company's own list, not an estimate.

Is Health Catalyst, Inc. financially healthy?

Health Catalyst, Inc. scores 4 out of 8 on the Piotroski F-score. Only 8 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.

Who are the largest institutional holders of Health Catalyst, Inc.?

Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are BlackRock, Inc. (trimming), GEODE CAPITAL MANAGEMENT, LLC (trimming), CITADEL ADVISORS LLC (adding). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.