Definitive Healthcare Corp. · NASDAQ:DH
Definitive Healthcare — Q1 2025 Earnings Presentation
19 slides from Definitive Healthcare's earnings presentation, May 8, 2025
Slide 1: First quarter 2025 earnings presentation
First quarter 2025 earnings presentation May 8, 2025
Slide 2: Cautionary statement regarding forward-looking statements
Cautionary statement regarding forward-looking statements This presentation includes forward-looking statements that reflect our current views with respect to future events and emerge from time to time, and it is not possible for us to predict all of them. Should one or more of these risks or financ
Slide 3: Q1'25
Q1’25 3
Slide 4: Q1 2025 Performance Highlights
Q1 2025 Performance Highlights “We delivered first quarter results above the high end of our guidance for both revenue and earnings, reflecting solid new logo momentum across (7%) markets, and our continued focus on operational efficiency. Even with rising Revenue Decline YoY macroeconomic uncertain
Slide 5: Q1 2025 Results
Q1 2025 Results (P&L on non-GAAP basis) Q1 Performance above high end of guided ranges Revenue Mix Adjusted EBITDA margin decline on down revenue $ Millions Subscription, 97% mix Q1'25 Q1'24 YoY Change except per share amounts (7%) YoY revenue decline Total Revenue $59.2 $63.5 (7%) Professional
Slide 6: Q1 2025 Cash Flow and Balance Sheet Highlights
Q1 2025 Cash Flow and Balance Sheet Highlights $ Millions Q1’25 Q1’24 YoY Change Cash Flow from Operations $26.1 $16.6 57% Unlevered Free Cash Flow1 $22.9 $28.3 (19%) $67.1 million TTM uFCF5 Mar 31, Mar 31, $ Millions YoY Change 2025 2024 91% Cash, cash equivalents & short-term investments2 $200.7 $
Slide 7: Guidance
Guidance 7
Slide 8: Q2 and FY 2025 Guidance
Q2 and FY 2025 Guidance (as of May 8, 2025) $ MILLIONS, except percentages and per share info Second Quarter 2025 Full Year 2025 Our full year 2025 guidance reflects our Revenue $58.5 - 60.0 $234.0 - 240.0 view of the year under existing % change YoY (8%) - (6%) (7%) - (5%) macroeconomic condition
Slide 9: Appendix
Appendix Non-GAAP reconciliations & basis of presentation 9
Slide 10: Q1 Performance and Guidance
Q1 Performance and Guidance $ MILLIONS, except First Quarter 2025 Guidance Range percentages and per share info Revenue $59.2 $55.5 - 57.0 Q1 results were above the high end of the guided range % growth YoY (7%) (13%) - (10%) o Revenue decline of (7%) was driven by a decline in 1 Adjusted Operatin
Slide 11: Key Shareholder Statistics
Key Shareholder Statistics Comments Public Shares Minority Interest 441K Class B shares were exchanged into Key shareholder statistics as of 3/31/2025 (Class A) (Class B) Combined Class A public shares in the quarter Sponsor ownership (as-if converted) 63,935,333 13,843,158 77,778,491 0.9M Class
Slide 12: Non-GAAP Financial Measures
Non-GAAP Financial Measures We define Unlevered Free Cash Flow as net cash provided by (used in) operating activities less purchases of property, equipment and other assets, plus cash interest expense, and cash payments related to transaction, integration, and restructuring related expenses, earnout
Slide 13: Reconciliation from GAAP gross profit and margin to adjusted gross profit and margin
Reconciliation from GAAP gross profit and margin to adjusted gross profit and margin THREE MONTHS ENDED MARCH 31, $ THOUSANDS 2025 2024 $ % GAAP Gross Profit $43,760 $50,382 ($6,622) (13%) Amortization of intangible assets resulting from acquisition- 3,153 2,443 710 29% related purchase accounting a
Slide 14: Reconciliation from GAAP to non-GAAP operating expenses
Reconciliation from GAAP to non-GAAP operating expenses THREE MONTHS ENDED MARCH 31, $ THOUSANDS 2025 2024 $ % GAAP Sales & Marketing $20,653 $21,760 ($1,107) (5%) Equity-based compensation (1,179) (2,271) $1,092 (48%) Other non-core items 1 0 (4) $4 (100%) Non-GAAP Sales & Marketing $19,474 $19,485
Slide 15: Reconciliation from net loss to adjusted operating income and adjusted net income
Reconciliation from net loss to adjusted operating income and adjusted net income THREE MONTHS ENDED MARCH 31, % of Revenue $ THOUSANDS 2025 2024 $ % 2025 2024 GAAP Net loss ($155,093) ($12,718) ($142,375) >100% (262%) (20%) Interest expense (income), net 381 (111) 492 >(100%) 1% (0%) Income tax ben
Slide 16: Reconciliation from net loss to adjusted EBITDA
Reconciliation from net loss to adjusted EBITDA THREE MONTHS ENDED MARCH 31, % of Revenue $ THOUSANDS 2025 2024 $ % 2025 2024 GAAP Net loss ($155,093) ($12,718) ($142,375) >100% (262%) (20%) Interest expense (income), net 381 (111) 492 >(100%) 1% (0%) Income tax benefit (10,886) (780) (10,106) >100%
Slide 17: Reconciliation from cash flow from operations to unlevered free cash flow
Reconciliation from cash flow from operations to unlevered free cash flow THREE MONTHS ENDED MARCH 31, % of Revenue $ THOUSANDS 2025 2024 $ % 2025 2024 Cash Flow from Operations $26,066 $16,589 $9,477 57% 44% 26% Cash interest expense 2,242 3,642 ($1,400) (38%) 4% 6% Transaction, integration, and re
Slide 18: Schedule of transaction, integration and restructuring expense and other non-core items
Schedule of transaction, integration and restructuring expense and other non-core items THREE MONTHS ENDED MARCH 31, $ THOUSANDS 2025 2024 Merger and acquisition due diligence and transaction costs $1,177 $609 Integration costs 557 434 Fair value adjustment for contingent consideration (690) 270 Res
Slide 19: Basis of presentation
Basis of presentation Enterprise Customers: Customers generating more than $100,000 in ARR RPO: Represents the amount of contracted future revenue that has not yet been recognized, including both deferred revenue and non-cancelable contracted amounts that will be invoiced and recognized in the futur
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