Market Overview

Health Catalyst IPO: What You Need To Know

Health Catalyst IPO: What You Need To Know

An exciting IPO prospect that capitalizes on the booming health care data analytics market is slated to hit Wall Street this week.

The IPO Terms

Salt Lake City, Utah-based Health Catalyst, Inc. plans to offer 7 million shares in an IPO to be priced between $24 and $25, according to a S-1/Afiling done on July 23.

The company upsized the offering from the initially planned 6 million share as well as hiked the estimated price range from $20 to $23.

At the midpoint of the estimated price range, the offering is expected to raise gross proceeds of $171.5 million.

The company's shares have been approved for listing on the Nasdaq under the ticker symbol HCAT.

Goldman Sachs, JPMorgan and William Blair are the lead underwriters for the offering.

The Company

Health Catalyst provides data and analytics technology and services to healthcare organizations, primarily healthcare providers, which use its solutions to manage their data, derive analytical insights to operate their organization and produce measurable clinical, financial and operational improvements.

The company serves its customers through a subscription-based contract model. As of Dec. 31, it served 126 customers.

The Finances

Health Catalyst reported revenues of $112.57 million for the year ended Dec. 31, up 54% year-over-year. Revenues for the three-months ended March 31 improved year-over-year from $20.63 million to $35.21 million.

The net loss for the fiscal year widened from $47.04 million to $61.98 million. For the March quarter, the company reported a loss of $13.72 million compared to a loss of $12.21 million in the year-ago quarter.

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