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Definitive Healthcare Reports Financial Results for Third Quarter Fiscal Year 2022
Third quarter revenue grew 33% year-over-year to $57.4 million FRAMINGHAM, Mass., Nov. 03, 2022 (GLOBE NEWSWIRE) -- Definitive Healthcare Corp. (“Definitive
About this update from Definitive Healthcare Corp.
[{"type":"text","content":"Third quarter revenue grew 33% year-over-year to $57.4 million\nFRAMINGHAM, Mass., Nov. 03, 2022 (GLOBE NEWSWIRE) -- Definitive Healthcare Corp. (“Definitive Healthcare” or the “Company”) (Nasdaq: DH), an industry leader in healthcare commercial intelligence, today announced financial results for the quarter ended September 30, 2022. Third Quarter 2022 Financial and Other Recent Highlights: Financial Highlights: Revenue was $57.4 million, an increase of 33% from $43.1 million in Q3 2021. Net loss was ($6.4) million, or 11% of revenue, compared to ($21.0) million, or 49% of revenue in Q3 2021. Adjusted Net Income was $8.9 million, compared to $2.2 million in Q3 2021. Adjusted EBITDA was $16.4 million, or 29% of revenue, compared to $14.4 million, or 33% of revenue in Q3 2021. Cash flow from operations was $10.7 million in the quarter or 19% of revenue. For the trailing twelve-month period, cash flow from operations was $44.0 million, or 21% of revenue.Unlevered free cash flow was $15.5 million in the quarter, or 27% of revenue. For the trailing twelve-month period, unlevered free cash flow was $67.4 million, or 32% of revenue. “We once again delivered an attractive combination of strong top line growth and substantial profitability. Revenue exceeded the top end of our guidance range and adjusted EBITDA was at the top end of our range, a clear demonstration of our highly efficient business model,” said Robert Musslewhite, CEO of Definitive Healthcare. “We continued to execute on our land and expand strategy with important wins at new and existing customers. We also launched several important products, including Passport Express, while making good progress on the continuing integration of Analytical Wizards.” Recent Business and Operating Highlights: Customer Wins In the third quarter, Definitive Healthcare had multiple key customer wins, including: A multi-year, seven-figure Monocl win at an existing Definitive Healthcare medical device customer. This long-time customer of our View products needed intelligence around key opinion leaders to better inform their product development process.A multi-year enterprise deal at a global specialty generic pharmaceutical company for our Passport Analytics Suite to improve their market segmentation and analyze their marketing spend to ensure it is spent most efficiently across their different ...