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Definitive Healthcare Reports Preliminary Financial Results for Second Quarter Fiscal Year 2023, Reaffirms Full Year Guidance for Revenue and Adjusted EBITDA, and Announces Restatement of Previously Issued Financials
Q2 2023 Earnings Call Moved to August 14, 2023 FRAMINGHAM, Mass. , Aug. 01, 2023 (GLOBE NEWSWIRE) -- Definitive Healthcare Corp. (“Definitive Healthcare” or
About this update from Definitive Healthcare Corp.
[{"type":"text","content":"Q2 2023 Earnings Call Moved to August 14, 2023\nFRAMINGHAM, Mass. , Aug. 01, 2023 (GLOBE NEWSWIRE) -- Definitive Healthcare Corp. (“Definitive Healthcare” or the “Company”) (Nasdaq: DH), an industry leader in healthcare commercial intelligence, today announced selected preliminary financial results for the quarter ended June 30, 2023. Second Quarter 2023 Financial Highlights: Revenue is expected to be $61.0 millionNet loss is expected to be in the range of $11.4 million to $11.8 million or $(0.08) per shareAdjusted Net Income is expected to be in the range of $12.3 million to $12.4 million or $0.08 per diluted shareAdjusted EBITDA is expected to be $17.2 million These preliminary financial results are unaudited, based on currently available information and do not present all necessary information for a complete understanding of the Company’s financial condition as of June 30, 2023 or its results of operations for the quarter ended June 30, 2023. Business Outlook Based on information as of the date hereof, the Company is reaffirming its full year 2023 revenue and Adjusted EBITDA guidance: Revenue is expected to be in the range of $249.0 – $255.0 million, up 12% – 15% from the prior year.Adjusted EBITDA is expected to be in the range of $67.0 - $71.0 million. Restatement of Historical Financial Results On July 31, 2023, the Audit Committee of the Board of Directors of the Company (the “Audit Committee”), based on the recommendation of, and after consultation with, the Company’s management, concluded that the Company’s previously issued audited consolidated financial statements as of December 31, 2022 and 2021 and for the years ended December 31, 2022, 2021 and 2020, included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 (the “2022 Annual Report”), and the Company’s unaudited condensed consolidated financial statements included in the Quarterly Reports on Form 10-Q for the quarterly periods within those years (the “Historical Quarterly Reports”), as well as the unaudited condensed consolidated financial statements included in the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2023 (the “Q1 2023 Quarterly Report” and, together with the 2022 Annual Report and the Historical Quarterly Reports, the “Reports” and all financial statements included in the Reports, collectively th...