Health Catalyst

healthcatalyst.com →

-31%

est. 2Y upside i

HealthcareIPO

Rank

#4263

Sector

HealthTech

Est. Liquidity

~0Y

Data Quality

Data: High

Health Catalyst presents a highly risky equity opportunity for a job seeker.

Last updated: March 10, 2026

Bull (5%)+100%

Despite current challenges, a new CEO and strategic initiatives, potentially including further M&A, could drive a significant turnaround in growth and a clearer path to profitability. This could push the market capitalization to approximately $260M (a 100% increase), but common equity holders would still face substantial dilution risk due to the large liquidation preference of existing investors.

Base (30%)-10%

Health Catalyst continues to operate in a highly competitive market with flat to slightly declining revenue and persistent unprofitability. The market capitalization might see a modest decline to around $117M (a -10% change). Given the $392M in total funding, common stock holders would likely see no return in this scenario.

Bear (65%)-50%

Increased competition from incumbents like Epic and Oracle, coupled with continued revenue decline and inability to achieve profitability, leads to further market cap erosion. The valuation could drop to approximately $65M (a -50% change). With $392M in liquidation preferences, common stock holders would likely receive nothing.

Est. time to liquidity~0.0 years

Preference Stack Risk

severe

Funding Intensity

67%

Investors hold $392M in total funding, which is over 3x the current market capitalization of approximately $130M. This means common stock holders face a severe liquidation preference, likely resulting in no return unless the company's valuation significantly exceeds $392M.

Dilution Risk

high

The company's ongoing unprofitability and forecasted revenue decline suggest a continued need for capital, increasing the risk of future equity dilution for common shareholders.

Secondary Liquidity

active

As a publicly traded company on Nasdaq (HCAT), shares are actively traded, providing daily liquidity for equity holders.

Questions to Ask at the Interview

Strategic questions based on Health Catalyst's data — designed to show you've done your homework.

  • 1

    “Given the significant incumbent threat from EHR giants like Epic and large tech players like Microsoft, what is Health Catalyst's differentiated strategy to maintain and grow market share in the healthcare data and analytics space?”

  • 2

    “With analysts forecasting a revenue decline and continued unprofitability, what are the immediate priorities for the new CEO, Ben Albert, to drive sustainable growth and a clear path to positive free cash flow?”

  • 3

    “Considering the substantial amount of capital raised ($392M) relative to the current market capitalization (~$130M), how does Health Catalyst plan to create meaningful value for common stock and option holders over a two-year horizon?”

Community

Valuation Sentiment

Our model estimates -31% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.