Peak NRR of 103% in FY2025-Q1. Latest is 92% - that's -11pp from peak.
Health Catalyst is above the Healthcare SaaS Public median by +0pp (cell median: 92%)
Health Catalyst (HCAT) is a healthcare saas company at the public stage. As of its most recent disclosure (FY-2025), Health Catalyst reported a Net Revenue Retention rate of 92% - a below-average result for B2B SaaS at this segment.
Health Catalyst's NRR peaked at 103% in FY2025-Q1, 11pp above today's level.
Within its peer set (healthcare saas companies at public stage in the $500k+ acv band), Health Catalyst's NRR is roughly in line with the cell median of 92%. Compare against the full peer cell aggregate for distribution and top performers.
Contract shape and forward-booked revenue.
Health scores, usage, and time-to-value when disclosed.
Logo flow per period (count-side complement to dollar-based NRR).
Revenue, ARR, and team-size denominators for the productivity ratios.
CS team segments: HIE client deployments · managed services
Education programs: Health Catalyst Analytics Summit (HAS)
Top customer exec: Ryan Berry - Chief Client Services Officer (since 2025)
Computed from the data above. Shows where value comes from and where leakage hides.
Named CS initiatives across recent disclosures (newest first).
Proactive migration of existing DOS clients to the next-generation Ignite platform to improve efficiency.
"we anticipate we will continue to migrate our existing DOS clients to Ignite over the next couple of years"
Operational and business restructuring to transform operating model, improve cost structure, and integrate functions.
"Two weeks ago, we announced a comprehensive operational and business restructuring we're calling Project Nexus."
Suite of agentic AI models across cost management, clinical quality, and consumer experience.
"We are building a growing suite of agentic AI models across cost management, clinical quality, consumer experience"
Strategic migration of clients from legacy DOS platform to Ignite data and analytics platform.
"We've made substantial progress in migrating our DOS clients to Ignite, but... we do still have work ahead."
Adjusting the Ignite migration timeline to be more client-centric, allowing some clients to remain on DOS legacy.
"we've adjusted our timeline and approach to be more client-centric, recognizing that some organizations prefer to remain on DOS"
Migrating legacy DOS clients to the next-generation Ignite platform, offering 20%+ cost savings.
"Ignite migration, which often represents a 20+% savings relative to the cost of DOS."
Exiting unprofitable services contracts to improve overall profitability and focus on technology revenue.
"proactively been assessing and changing the structure of a handful of client contract relationships"
Purpose-built solution designed for the mid-market health system segment.
"early traction with Ignite Spark, a purpose-built solution designed for the mid-market"
Challenges acknowledged by management. Useful peer signals - your team is probably not alone.
International and HIE contracts take longer to ramp into revenue due to complex implementation requirements.
"These contracts generally take longer to ramp into revenue than traditional Ignite contracts."
Newer service area in ambulatory operations experiencing temporary margin pressure during the learning phase.
"we're still learning. We're still coming up the learning curve there... working through the cost structure elements."
Rigid migration timelines created churn dynamics impacting 2026 revenue.
"Setting a rigid timeline for DOS to Ignite migration efforts over the last two years has created a churn dynamic"
Data platform layer is becoming commoditized by cross-industry tech vendors like Snowflake and Databricks.
"Healthcare data infrastructure has increasingly commoditized. Durable advantage lives in the intelligence"
Clients downselling or churning data platform infrastructure during migrations to cross-industry solutions.
"Data platform infrastructure... is where we're seeing the highest degree of pressure."
Migration from DOS to Ignite is causing dollar-based retention pressure as Ignite is lower priced.
"experiencing dollar-based retention pressure in 2025 due to the ongoing migration efforts"
Curated quotes about customer outcomes, retention, renewals.
"As we've continued our client-by-client retention work, we continue to see significant pressure in this area."
"The result is what one client called a culture of improvement that converts into outcomes."
"The transition to Ignite may temporarily impact our dollar-based retention rate... we expect this effect to subside by mid-2026."
"Ignite, because of its modularity, can really sort of attach those capabilities in a very modular and just-in-time fashion to each of those use cases."
"We continue to focus on cross-selling additional applications to these clients, which we expect will continue to help offset this reduction in spend."
"Ignite is a more profitable platform than DOS, with approximately 70% gross margins compared to approximately 60% for DOS."
Side-by-side NRR, customer cohorts, commercial structure, and CS motion.
Health Catalyst appears on 1 of our retention leaderboards.
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