Health Catalyst, Inc. (NASDAQ:HCAT) Q1 2024 Earnings Call Transcript May 9, 2024
Health Catalyst, Inc isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).
Operator: Good afternoon, everyone, and welcome to the Health Catalyst First Quarter 2024 Earnings Conference Call. [Operator Instructions]. I would now like to turn the conference over to Jack Knight, Vice President of Investor Relations. Please go ahead.
Jack Knight: Good afternoon, and welcome to Health Catalyst earnings conference call. For the first quarter of 2024, which ended on March 31, 2024. My name is Jack, and I am the Vice President of Investor Relations for Health Catalyst. And with me on the call is Dan Burton, our Chief Executive Officer; and Jason Alger, our Chief Financial Officer. A complete disclosure of our results can be found in our press release issued today, as well as in our related Form 8-K furnished to the SEC, both of which are available on the Investor Relations section of our website at ir.healthcatalyst.com. As a reminder, today’s call is being recorded and a replay will be available following the conclusion of the call. During today’s call, we will make forward-looking statements pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, regarding our future growth and our financial outlook for the second quarter and full year of 2024.
Our ability to attract new clients and retain and expand our relationships with existing clients, trends, strategies, the impact of the macroeconomic challenges, including the impact of inflation and the interest rate environment, the tight labor market, bookings, our pipeline conversion rates, the demand for deployment and development of our data and analytics platform, and the general anticipated performance of our business. These forward-looking statements are based on management’s current views and expectations as of today, and should not be relied upon as representing our views as of any subsequent date. We disclaim any obligation to update any forward-looking statements or outlook. Actual results may materially differ. Please refer to the risk factors in our Form 10-K for the full-year 2023 filed with the SEC on February 22, 2024, and our Form 10-Q for the first quarter of 2024 that will be filed with the SEC.
We will also refer to certain non-GAAP financial measures to provide additional information to investors. Non-GAAP financial information is presented for supplemental informational purposes only as limitations as an analytical tool and should not be considered in isolation, or as a substitute for financial information presented in accordance with GAAP. A reconciliation of non-GAAP financial measures for the first quarters of 2024 and 2023 to their most comparable GAAP measures is provided in our press release. However, we have not provided forward-looking guidance for professional services gross margin, the most directly comparable GAAP measure, to adjusted professional services gross margin, we will discuss later. Technology gross margin, the most directly comparable GAAP measure to our adjusted technology gross margin, we will discuss later.
Our net cash from operating activities, the most comparable GAAP measure to adjusted free cash flow, we will discuss later. And therefore, not provided related reconciliations of these non-GAAP measures to their most comparable GAAP measures because there are items that are not within our control or cannot be reasonably forecasted. With that, I will turn the call over to Dan. Dan?
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