Business
Definitive Healthcare Reports Financial Results for Fourth Quarter and Full Year Fiscal 2021
Fourth quarter revenue grew 38% year-over-year to $46.3 millionFull year 2021 revenue grew 40% to $166.2 million FRAMINGHAM, Mass., Feb. 23, 2022 (GLOBE
About this update from Definitive Healthcare Corp.
[{"type":"text","content":"Fourth quarter revenue grew 38% year-over-year to $46.3 millionFull year 2021 revenue grew 40% to $166.2 million FRAMINGHAM, Mass., Feb. 23, 2022 (GLOBE NEWSWIRE) -- Definitive Healthcare Corp. (“Definitive Healthcare”) (Nasdaq: DH), an industry leader in healthcare commercial intelligence, today announced financial results for the quarter and full year ended December 31, 2021. Fourth Quarter 2021 Financial Highlights: Revenue was $46.3 million, an increase of 38% from $33.7 million in Q4 2020. GAAP Net loss was $(14.8) million, or 32% of revenue, compared to $(15.9) million, or 47% of revenue in Q4 2020. Adjusted Net Income was $6.6 million, compared to $3.4 million in Q4 2020 Adjusted EBITDA was $13.1 million, or 28% of revenue, compared to $12.8 million, or 38% of revenue in Q4 2020. Cash flow from operations was $4.2 million in the quarter or 9% of revenue. Full Year 2021 Financial Highlights: Revenue was $166.2 million for the year, an increase of 40% from $118.3 million for the full year 2020. GAAP Net loss was $(61.3) million, or 37% of revenue, compared to $(51.2) million, or 43% of revenue for the full year 2020.Adjusted Net Income was $13.4 million, compared to $15.4 million for the full year 2020. Adjusted EBITDA was $56.0 million, or 34% of revenue, compared to $53.5 million, or 45% of revenue for the full year 2020. Cash flow from operations was $25.2 million for the full year 2021, or 15% of revenue.Unlevered free cash flow was $55.4 million for the full year 2021, or 33% of revenue. “2021 was a transformational year for Definitive Healthcare, and we ended the year with strong financial results that reflect the significant momentum that we have across all parts of our business,” said Jason Krantz, CEO and Founder of Definitive Healthcare. “Our innovation flywheel continues to spin, as we expand our data set and deliver new analytics that address our customers’ most pressing challenges. Whether it’s our new Latitude Reporting product, or our recent acquisition of Analytical Wizards, we continue to deliver the commercial intelligence that our customers need to navigate and sell into the large and complex healthcare market.” Recent Business and Operating Highlights: Customer Wins In the fourth quarter, Definitive Healthcare continued to grow its enterprise client base, ending the year with 417 Enterprise customers, de...