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Definitive Healthcare Reports Financial Results for Second Quarter Fiscal Year 2022
Second quarter revenue grew 37% year-over-year to $54.5 million FRAMINGHAM, Mass., Aug. 04, 2022 (GLOBE NEWSWIRE) -- Definitive Healthcare Corp. (“Definitive
About this update from Definitive Healthcare Corp.
[{"type":"text","content":"Second quarter revenue grew 37% year-over-year to $54.5 million\nFRAMINGHAM, Mass., Aug. 04, 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 June 30, 2022. Second Quarter 2022 Financial and Other Recent Highlights: Financial Highlights: Revenue was $54.5 million, an increase of 37% from $39.8 million in Q2 2021. Net loss was ($9.6) million, or 18% of revenue, compared to ($15.0) million, or 38% of revenue in Q2 2021. Adjusted Net Income was $8.9 million, compared to $2.0 million in Q2 2021. Adjusted EBITDA was $16.3 million, or 30% of revenue, compared to $14.4 million, or 36% of revenue in Q2 2021. Cash flow from operations was $15.5 million in the quarter or 28% of revenue. For the trailing twelve-month period, cash flow from operations was $32.4 million, or 17% of revenue.Unlevered free cash flow was $19.1 million in the quarter, or 35% of revenue. For the trailing twelve-month period, unlevered free cash flow was $63.4 million, or 33% of revenue. “We are pleased with our second quarter 2022 financial results,” said Robert Musslewhite, CEO of Definitive Healthcare. “We continued to see strong revenue growth and delivered adjusted EBITDA that demonstrates the leverage of our business model. Demand generation remains healthy, and we are confident in Definitive Healthcare’s growth prospects.” Recent Business and Operating Highlights: Customer Wins In the second quarter, Definitive Healthcare continued to grow its enterprise client base, ending the quarter with 486 enterprise customers, defined as those customers with more than one hundred thousand dollars in annual recurring revenue. Significant customer wins included: A multi-year enterprise new business deal at a medical device company manufacturing compression pumps for lymphedema patients. This customer will use Definitive Healthcare reference data, lab data, and account profiles to improve targeting, account profiles, and competitive analysis.A multi-year upsell deal for Passport Promotional Analytics at one of the world’s largest independent biotechnology companies. This customer is a long-time user of the Analytical Wizards product suite, and it significantly increased its investment in the second quarter by adding ...