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Definitive Healthcare Reports Financial Results for Third Quarter Fiscal Year 2021
Third quarter revenue grew 43% year-over-year to $43.1 million FRAMINGHAM, Mass., Nov. 08, 2021 (GLOBE NEWSWIRE) -- Definitive Healthcare Corp. (“Definitive
About this update from Definitive Healthcare Corp.
[{"type":"text","content":"Third quarter revenue grew 43% year-over-year to $43.1 million\nFRAMINGHAM, Mass., Nov. 08, 2021 (GLOBE NEWSWIRE) -- Definitive Healthcare Corp. (“Definitive Healthcare”) (Nasdaq: DH), an industry leader in healthcare commercial intelligence, today announced financial results for the quarter ended September 30, 2021. Third Quarter 2021 Financial and Other Recent Highlights: Financial Highlights: Revenue was $43.1 million, an increase of 43% from $30.1 million in Q3 2020.GAAP Net loss was $(21.0) million, or 49% of revenue, compared to $10.0 million, or 33% of revenue in Q3 2020.Adjusted Net Income was $2.2 million, compared to $5.1 million in Q3 2020.Adjusted EBITDA was $14.4 million, or 33% of revenue, compared to $14.5 million, or 48% of revenue in Q3 2020.Cash flow from operations was ($0.9) million in the quarter or -2% of revenue. For the trailing twelve-month period, cash flow from operations was $29.7 million, or 19% of revenue.Unlevered free cash flow was $11.5 million in the quarter, or 27% of revenue. For the trailing twelve-month period, unlevered free cash flow was $59.1 million, or 38% of revenue. “I am extremely pleased with our performance in our first quarter as a public company,” said Jason Krantz, founder and CEO of Definitive Healthcare. “We saw strong revenue growth and continued to produce exceptional results. Our strength was broad-based across all of our segments, and we continue to innovate to build the next generation of healthcare commercial intelligence solutions. I want to thank all of our employees who have worked so diligently to help our customers create new paths to commercial success in the healthcare market.” Recent Business and Operating Highlights: Definitive Healthcare successfully completed its initial public offering in September after selling 17,888,888 shares at a price of $27.00 per share, for aggregate gross proceeds of approximately $483 million.The company ended the quarter with 377 customers with $100,000 or greater in annual recurring revenue, a 49% increase from 252 in Q3 2020. During the third quarter, the company brought on multiple new customers including: A large pharmaceutical technology company, who plans to use Definitive Healthcare commercial intelligence on executives, affiliations, procedure volumes, and doctors to accelerate its push into the hospital and IDN market for ...