Health Catalyst , Inc. (NASDAQ:HCAT), a provider of data and analytics technology and services to healthcare organizations, announced the results of its annual stockholders' meeting held on June 13, 2024. The company, headquartered in South Jordan, Utah, saw its stockholders pass all proposals presented at the meeting.
The first proposal concerned the election of directors. Stockholders re-elected three Class II directors to serve a three-year term expiring at the annual meeting in 2027. Daniel Burton received 31,119,449 votes for and 12,090,333 votes withheld; John A. Kane had 30,312,852 votes for and 12,896,930 votes withheld; and Julie Larson-Green secured 30,723,384 votes for with 12,486,398 votes withheld. There were 5,967,527 broker non-votes for each director.
The second proposal was the ratification of the appointment of Ernst & Young LLP as the company's independent registered public accounting firm for the fiscal year ending December 31, 2024. This proposal passed with a significant majority, garnering 49,068,137 votes for, 106,662 against, and 2,510 abstentions.
The third proposal addressed the compensation of the company's named executive officers. This advisory, non-binding vote was also approved by the stockholders, with 42,599,851 votes for, 597,262 against, and 12,669 abstentions, alongside the same number of broker non-votes as the director elections.
Health Catalyst, previously known as HQC Holdings, Inc., is incorporated in Delaware and operates within the computer programming and data processing industry. The company's fiscal year concludes at the end of December. The information is based on a press release statement.
In other recent news, Health Catalyst announced its Q1 2024 financial results, reporting a total revenue of $74.7 million and an adjusted EBITDA of $3.4 million. This surpasses the midpoint of its guidance and shows a year-over-year revenue increase of 1%. The company is actively evaluating potential acquisitions and maintains a strong cash position, ending Q1 with $327.8 million in cash, cash equivalents, and short-term investments.
Health Catalyst has also expanded its partnership with Saudi German Health to improve health outcomes in the United Arab Emirates. Analysts point out a slight decrease in adjusted gross margin and challenges faced by clients like Steward Health. However, they anticipate strong demand for the Health Catalyst Ignite platform and an increase in the company's full portfolio as the end market improves. These are among the recent developments for the company.
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