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Definitive Healthcare Reports Financial Results for First Quarter Fiscal Year 2022
First quarter revenue grew 36% year-over-year to $50.1 million FRAMINGHAM, Mass., May 05, 2022 (GLOBE NEWSWIRE) -- Definitive Healthcare Corp. (“Definitive
About this update from Definitive Healthcare Corp.
[{"type":"text","content":"First quarter revenue grew 36% year-over-year to $50.1 million\nFRAMINGHAM, Mass., May 05, 2022 (GLOBE NEWSWIRE) -- Definitive Healthcare Corp. (“Definitive Healthcare”) (Nasdaq: DH), an industry leader in healthcare commercial intelligence, today announced financial results for the quarter ended March 31, 2022. First Quarter 2022 Financial and Other Recent Highlights: Financial Highlights: Revenue was $50.1 million, an increase of 36% from $36.9 million in Q1 2021. Net loss was ($13.1) million, or 26% of revenue, compared to ($10.5) million, or 28% of revenue in Q1 2021. Adjusted Net Income was $7.7 million, compared to $2.6 million in Q1 2021. Adjusted EBITDA was $14.0 million, or 28% of revenue, compared to $14.1 million, or 38% of revenue in Q1 2021. Cash flow from operations was $13.6 million in the quarter or 27% of revenue. For the trailing twelve-month period, cash flow from operations was $25.3 million, or 14% of revenue.Unlevered free cash flow was $23.9 million in the quarter, or 48% of revenue. For the trailing twelve-month period, unlevered free cash flow was $60.4 million, or 34% of revenue. “The first quarter of 2022 continued Definitive Healthcare’s impressive track record of financial performance,” said Jason Krantz, CEO and Founder of Definitive Healthcare. “We once again demonstrated our ability to generate the unique combination of high growth and high profitability. We continue to deliver the healthcare commercial intelligence that our customers need to succeed in the complex healthcare market, resulting in growth across all parts of our business. Customers ranging from global life sciences companies to large healthcare systems to provider staffing agencies all continue to choose Definitive Healthcare.” Recent Business and Operating Highlights: Customer Wins In the first quarter, Definitive Healthcare continued to grow its enterprise client base, ending the quarter with 447 enterprise customers, defined as those customers with more than one hundred thousand dollars in annual recurring revenue. Significant customer wins included: An enterprise deal with a 10,000-employee global medical device company focused on interventional urology, wound care, and ostomy. This client signed a multi-year enterprise deal to segment the market and understand the specific physicians and integrated delivery networks that prescr...