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Data Analytics Stocks Q3 Results: Benchmarking Health Catalyst (NASDAQ:HCAT)


Radek Strnad /
2023/01/27 3:57 am EST

As Q4 earnings season starts, it’s time to take stock of this quarter's best and worst performers amongst the data analytics stocks from Q3, including Health Catalyst (NASDAQ:HCAT) and its peers.

Organizations generate a lot of data that is stored in silos, often in incompatible formats, making it slow and costly to extract actionable insights, which in turn drives demand for modern cloud-based data analysis platforms that can efficiently analyze the silo-ed data.

The 5 data analytics stocks we track reported a decent Q3; on average, revenues beat analyst consensus estimates by 4.2%, while on average next quarter revenue guidance was 1.99% above consensus. Investors abandoned cash burning companies since high interest rates will make it harder to raise capital, but data analytics stocks held their ground better than others, with the share prices up 20% since the previous earnings results, on average.

Slowest Q3: Health Catalyst (NASDAQ:HCAT)

Founded by healthcare professionals Tom Burton and Steve Barlow in 2008, Health Catalyst (NASDAQ:HCAT) provides data and analytics technology to healthcare organizations, enabling them to improve care and lower costs.

Health Catalyst reported revenues of $68.3 million, up 10.7% year on year, beating analyst expectations by 2.33%. It was a weak quarter for the company, with a decline in gross margin and underwhelming revenue guidance for the next quarter.

“In the third quarter of 2022, I am pleased to share that we achieved strong performance across our business, including exceeding the mid-point of our quarterly guidance for both revenue and Adjusted EBITDA, and, based on an expanding pipeline and ahead-of-schedule cost reduction efforts, we are also pleased to raise our full year 2022 revenue and Adjusted EBITDA guidance. In addition, we now expect our 2022 dollar-based retention achievement level to be between 97% and 101%, an increase relative to the range we shared last quarter. This incremental confidence is driven by growth in our existing client expansion pipeline relative to prior expectations and a modest reduction in forecasted churn for 2022.” said Dan Burton, CEO of Health Catalyst.

Health Catalyst Total Revenue

Health Catalyst delivered the slowest revenue growth of the whole group. The stock is up 107% since the results and currently trades at $13.38.

Read our full report on Health Catalyst here, it's free.

Best Q3: Alteryx (NYSE:AYX)

Initially created as a way to organise census data for the government, Alteryx (NYSE:AYX) provides software that helps companies automate and analyse their internal data processes.

Alteryx reported revenues of $215.7 million, up 74.6% year on year, beating analyst expectations by 12.2%. It was an incredible quarter for the company, with an impressive beat of analyst estimates and very optimistic guidance for the next quarter.

Alteryx Total Revenue

Alteryx scored the strongest analyst estimates beat, fastest revenue growth, and highest full year guidance raise among its peers. The company added 44 customers to a total of 8,340. The stock is up 12.1% since the results and currently trades at $53.94.

Is now the time to buy Alteryx? Access our full analysis of the earnings results here, it's free.

Domo (NASDAQ:DOMO)

Founded by Josh James after selling his former business Omniture to Adobe, Domo (NASDAQ:DOMO) provides business intelligence software that allows managers to access and visualize critical business metrics in real-time, using their smartphones.

Domo reported revenues of $79 million, up 21.4% year on year, beating analyst expectations by 3.47%. It was a slower quarter for the company, with underwhelming revenue guidance for the next quarter.

Domo had the weakest full year guidance update in the group. The stock is down 5.15% since the results and currently trades at $14.12.

Read our full analysis of Domo's results here.

Palantir (NYSE:PLTR)

Started by Peter Thiel after seeing US defence agencies struggle in the aftermath of the 2001 terrorist attacks, Palantir (NYSE:PLTR) offers software as a service platform that helps government agencies and large enterprises use data to make better decisions.

Palantir reported revenues of $477.8 million, up 21.8% year on year, in line with analyst expectations. It was a weaker quarter for the company, with underwhelming revenue guidance for the next quarter.

Palantir had the weakest performance against analyst estimates among the peers. The stock is down 9.45% since the results and currently trades at $7.18.

Read our full, actionable report on Palantir here, it's free.

Amplitude (NASDAQ:AMPL)

Born out of a failed voice recognition startup by founder Spenser Skates, Amplitude (NASDAQ:AMPL) is data analytics software helping companies improve and optimize their digital products.

Amplitude reported revenues of $61.6 million, up 35.4% year on year, beating analyst expectations by 2.36%. It was a decent quarter for the company, with exceptional revenue growth.

The company added 77 customers to a total of 1,913. The stock is down 4.51% since the results and currently trades at $14.17.

Read our full, actionable report on Amplitude here, it's free.

The author has no position in any of the stocks mentioned