The end of the earnings season is always a good time to take a step back and see who shined (and who didn’t). Let’s take a look at how healthcare technology stocks fared in Q1, starting with Tandem Diabetes (NASDAQ: TNDM).

Healthcare technology companies develop software, data analytics, and digital platforms supporting clinical operations, administrative functions, and patient engagement across healthcare systems. Tailwinds include healthcare digitization driving demand for electronic health records, telehealth platforms, and AI-powered diagnostic tools. Regulatory incentives promote interoperability and data sharing, while labor shortages increase automation demand. Headwinds include lengthy sales cycles with risk-averse healthcare buyers, complex regulatory requirements including data privacy compliance, and integration challenges with legacy systems. Competition from established technology giants entering healthcare and reimbursement uncertainties for digital health solutions add market complexity.

The 7 healthcare technology stocks we track reported a strong Q1. As a group, revenues beat analysts’ consensus estimates by 1.6% while next quarter’s revenue guidance was 2.8% above.

Luckily, healthcare technology stocks have performed well with share prices up 21.9% on average since the latest earnings results.

Tandem Diabetes (NASDAQ: TNDM)

With technology that automatically adjusts insulin delivery based on continuous glucose monitoring data, Tandem Diabetes Care (NASDAQ: TNDM) develops and manufactures automated insulin delivery systems that help people with diabetes manage their blood glucose levels.

Tandem Diabetes reported revenues of $247.2 million, up 5.5% year on year. This print exceeded analysts’ expectations by 3.2%. Overall, it was a very strong quarter for the company with a beat of analysts’ EPS estimates and full-year revenue guidance meeting analysts’ expectations.

Investor expectations, however, were likely higher than Wall Street’s published projections, leaving some wishing for even better results (analysts’ consensus estimates are those published by big banks and advisory firms, not the investors who make buy and sell decisions). The stock is down 16.1% since reporting and currently trades at $15.50.

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

Best Q1: Omnicell (NASDAQ: OMCL)

Driven by the vision of an "Autonomous Pharmacy" with zero medication errors, Omnicell (NASDAQ: OMCL) provides medication management automation and adherence tools that help healthcare systems and pharmacies reduce errors and improve efficiency.

Omnicell reported revenues of $309.9 million, up 14.9% year on year, outperforming analysts’ expectations by 1.8%. The business had an exceptional quarter with EBITDA guidance for next quarter exceeding analysts’ expectations and a beat of analysts’ EPS estimates.

The market seems happy with the results as the stock is up 24.5% since reporting. It currently trades at $46.84.

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

Weakest Q1: Hims & Hers Health (NYSE: HIMS)

Originally launched with a focus on stigmatized conditions like hair loss and sexual health, Hims & Hers Health (NYSE: HIMS) operates a consumer-focused telehealth platform that connects patients with healthcare providers for prescriptions and wellness products.

Hims & Hers Health reported revenues of $608.1 million, up 3.8% year on year, falling short of analysts’ expectations by 1.4%. It was a slower quarter as it posted a significant miss of analysts’ EPS estimates and EBITDA guidance for next quarter missing analysts’ expectations significantly.

Interestingly, the stock is up 27.1% since the results and currently trades at $37.05.

Read our full analysis of Hims & Hers Health’s results here.

Astrana Health (NASDAQ: ASTH)

Formerly known as Apollo Medical Holdings until early 2024, Astrana Health (NASDAQ: ASTH) operates a technology-powered healthcare platform that enables physicians to deliver coordinated care while successfully participating in value-based payment models.

Astrana Health reported revenues of $965.1 million, up 55.6% year on year. This print surpassed analysts’ expectations by 1.9%. Taking a step back, it was a satisfactory quarter as it also produced a beat of analysts’ EPS estimates but full-year EBITDA guidance slightly missing analysts’ expectations.

Astrana Health achieved the fastest revenue growth but had the weakest guidance update and weakest full-year guidance update among its peers. The stock is up 30.2% since reporting and currently trades at $46.99.

Read our full, actionable report on Astrana Health here, it’s free.

Evolent Health (NYSE: EVH)

Founded in 2011 to transform how healthcare is delivered to patients with complex needs, Evolent Health (NYSE: EVH) provides specialty care management services and technology solutions that help health plans and providers deliver better care for patients with complex conditions.

Evolent Health reported revenues of $496.2 million, up 2.6% year on year. This number missed analysts’ expectations by 6.9%. All in all, it was a mixed quarter for the company.

Evolent Health had the weakest performance against analyst estimates of the whole group. The stock is up 53% since reporting and currently trades at $5.86.

Read our full, actionable report on Evolent Health here, it’s free.

Market Update

Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership.

Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products.

By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals.

Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Quality Compounder Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.