American Well vs Health Catalyst
Health Catalyst is the larger business, with $311m of revenue in fiscal 2025 against $249m for American Well (1.2 times as much). Health Catalyst grew faster (1.5% against -2.0%). American Well kept more of each dollar of sales as profit: a net margin of -38.4% against -57.2%.
| Latest fiscal year | American WellAMWL, 2025 | Health CatalystHCAT, 2025 |
|---|---|---|
| Revenue | $249m | $311m |
| Revenue growth | -2.0% | 1.5% |
| Net income | −$95.7m | −$178m |
| Operating margin | — | -51.7% |
| Net margin | -38.4% | -57.2% |
| Return on equity | -35.4% | -58.3% |
| Free cash flow | −$66.0m | −$237,000 |
| Cash | $182m | $50.8m |
| Total debt | $0 | $161m |
| Debt to equity | — | 65.4% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $4,000 | $5.0m |
| Employees | 562 | 1,200 |
| Market value | $215m | $109m |
| Price vs our value range | — | — |
| Moat score | 12 (Weak) | 9 (Weak) |
| Insider trades, 12 months | 1 buys, 29 sales | 1 buys, 2 sales |