Health Catalyst Inc
For the period ended Dec 31, 2023. Filed Feb 22, 2024.
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FY2023 · Filed Feb 22, 2024
HCAT$1.44-4.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Health Catalyst, Inc. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
(in thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash flows from operating activities | |||
| Net loss | $(118,147) | $(137,403) | $(153,210) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Stock-based compensation expense | 55,756 | 72,104 | 65,145 |
| Depreciation and amortization | 42,223 | 48,297 | 37,528 |
| Investment (discount accretion) and premium amortization | (9,720) | (2,236) | 1,202 |
| Impairment of long-lived assets | 4,081 | 5,023 | 1,800 |
| Non-cash operating lease expense | 2,990 | 3,231 | 3,585 |
| Provision for expected credit losses | 1,821 | 691 | 499 |
| Amortization of debt discount and issuance costs | 1,511 | 1,500 | 11,948 |
| Deferred tax provision (benefit) | 8 | (4,523) | (7,134) |
| Change in fair value of contingent consideration liabilities | — | (4,668) | 20,036 |
| Payment of acquisition-related contingent consideration | — | (3,234) | (9,085) |
| Other | 67 | (145) | (53) |
| Change in operating assets and liabilities: | |||
| Accounts receivable | (13,663) | 788 | 102 |
| Prepaid expenses and other assets | 164 | (478) | (4,442) |
| Accounts payable, accrued liabilities, and other liabilities | 4,868 | (4,702) | 5,202 |
| Deferred revenue | (1,487) | (5,997) | 7,637 |
| Operating lease liabilities | (3,552) | (3,518) | (3,883) |
| Net cash used in operating activities | (33,080) | (35,270) | (23,123) |
| Cash flows from investing activities | |||
| Proceeds from the sale and maturity of short-term investments | 336,801 | 315,171 | 186,893 |
| Purchase of short-term investments | (290,836) | (308,961) | (261,363) |
| Capitalization of internal-use software | (11,957) | (12,987) | (6,644) |
| Acquisition of businesses, net of cash acquired | (11,392) | (27,846) | (46,763) |
| Purchases of property and equipment | (1,236) | (2,167) | (10,450) |
| Purchase of intangible assets | (1,118) | (2,260) | (1,373) |
| Proceeds from the sale of property and equipment | 31 | 29 | 22 |
| Net cash provided by (used in) investing activities | 20,293 | (39,021) | (139,678) |
| Cash flows from financing activities | |||
| Proceeds from employee stock purchase plan | 3,588 | 3,153 | 4,844 |
| Repurchase of common stock | (1,808) | (8,393) | — |
| Proceeds from exercise of stock options | 950 | 3,969 | 20,350 |
| Payments of acquisition-related consideration | — | (1,342) | (6,290) |
| Proceeds from public offerings, net of discounts, commissions, and offering costs | — | — | 245,180 |
| Net cash provided by (used in) financing activities | 2,730 | (2,613) | 264,084 |
| Effect of exchange rate changes on cash and cash equivalents | 21 | (11) | (10) |
| Net (decrease) increase in cash and cash equivalents | (10,036) | (76,915) | 101,273 |
| Cash and cash equivalents at beginning of period | 116,312 | 193,227 | 91,954 |
| Cash and cash equivalents at end of period | $106,276 | $116,312 | $193,227 |
| Supplemental disclosures of cash flow information | |||
| Cash paid for interest | $5,750 | $5,750 | $6,360 |
| Cash paid for income taxes, net | 266 | 297 | 138 |
| Supplemental disclosures of non-cash investing and financing information | |||||
|---|---|---|---|---|---|
| Operating lease right-of-use assets obtained in exchange for operating lease obligations | $2,033 | $169 | $— | ||
| Purchase of intangible assets included in accounts payable and accrued liabilities | 1,310 | 488 | 520 | ||
| Stock-based compensation capitalized as internal-use software | 889 | 976 | 636 | ||
| Capitalized internal-use software included in accounts payable and accrued liabilities | 169 | 448 | — | ||
| Purchase of property and equipment included in accounts payable and accrued liabilities | 7 | 213 | 983 | ||
| Common stock issued for settlement of contingent consideration | — | 10,052 | 20,083 | ||
| Common stock issued in connection with acquisitions | — | 3,006 | 43,104 | ||
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