Definitive Healthcare Corp. · NASDAQ:DH
Definitive Healthcare — Q2 2025 Earnings Presentation
19 slides from Definitive Healthcare's earnings presentation, Aug 7, 2025
Slide 1: Second quarter 2025 earnings presentation
Second quarter 2025 earnings presentation August 7, 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: Q2'25
—— Q2’25
Slide 4: Q2 2025 Performance Highlights
Q2 2025 Performance Highlights (5%) “Overall, we continue to make progress on our strategic priorities. While there is still more that needs to be done, our conviction that we are taking Revenue Decline YoY the right steps to improve the business has increased. As a result of our progress in the fir
Slide 5: Q2 2025 Results
Q2 2025 Results (P&L on non-GAAP basis) § Q2 Performance above high end of guided ranges § Adjusted EBITDA margin decline on down revenue Revenue Mix $ Millions Subscription, 96% mix Q2'25 Q2'24 YoY Change (6%) YoY revenue decline except per share amounts Total Revenue $60.8 $63.7 (5%) Professional
Slide 6: Q2 2025 Cash Flow and Balance Sheet Highlights
Q2 2025 Cash Flow and Balance Sheet Highlights $ Millions Q2’25 Q2’24 YoY Change Cash Flow from Operations $9.3 $14.0 (34%) Unlevered Free Cash Flow1 $11.5 $21.5 (47%) $57.1 million TTM uFCF5 June 30, June 30, $ Millions YoY Change 2025 2024 80% Cash, cash equivalents & short-term investments 2 $184
Slide 7: Guidance
—- Guidance
Slide 8: Q3 and FY 2025 Guidance
Q3 and FY 2025 Guidance (as of Aug 7, 2025) $ MILLIONS, except percentages and per share info Third Quarter 2025 Full Year 2025 § Our full year 2025 guidance reflects our Revenue $59.0 - 60.0 $237.0 - 240.0 view of the year under existing % change YoY (6%) - (4%) (6%) - (5%) macroeconomic conditions
Slide 9: Appendix
Appendix Non-GAAP reconciliations & basis of presentation 9
Slide 10: Q2 Performance and Guidance
Q2 Performance and Guidance $ MILLIONS, except Second Quarter 2025 Guidance Range percentages and per share info Revenue $60.8 $58.5 - 60.0 § Q2 results were above the high end of the % growth YoY (5%) (8%) - (6%) guided range Adjusted Operating Income1 $15.6 $12.0 - 13.0 o Revenue decline of (5%) w
Slide 11: Key Shareholder Statistics
Key Shareholder Statistics Public Shares Minority Interest Comments Key shareholder statistics as of 6/30/2025 (Class A) (Class B) Combined § 602K Class B shares were exchanged into Class A public shares in the quarter Sponsor ownership (as-if converted) 63,935,333 13,843,158 77,778,491 § 0.5M 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 JUNE 30, SIX MONTHS ENDED JUNE 30, $ THOUSANDS 2025 2024 $ % 2025 2024 $ % GAAP Gross Profit $46,613 $50,454 ($3,841) (8%) $90,373 $100,836 ($10,463) (10%) Amortization of intangible assets result
Slide 14: Reconciliation from GAAP to non-GAAP operating expenses
Reconciliation from GAAP to non-GAAP operating expenses THREE MONTHS ENDED JUNE 30, SIX MONTHS ENDED JUNE 30, $ THOUSANDS 2025 2024 $ % 2025 2024 $ % GAAP Sales and Marketing $20,469 $21,545 ($1,076) (5%) $41,122 $43,305 ($2,183) (5%) Equity-based compensation (1,038) (1,686) $648 (38%) (2,217) (3,9
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 JUNE 30, SIX MONTHS ENDED JUNE 30, $ THOUSANDS 2025 2024 $ % 2025 2024 $ % GAAP Net Loss ($9,265) ($306,187) $296,922 (97%) ($164,358) ($318,905) $154,547 (48%) Interest expense (income), net 1,241 4
Slide 16: Reconciliation from net loss to adjusted EBITDA
Reconciliation from net loss to adjusted EBITDA THREE MONTHS ENDED JUNE 30, SIX MONTHS ENDED JUNE 30, $ THOUSANDS 2025 2024 $ % 2025 2024 $ % GAAP Net Loss ($9,265) ($306,187) $296,922 (97%) ($164,358) ($318,905) $154,547 (48%) Interest expense (income), net 1,241 46 1,195 >100% 1,622 (65) 1,687 >(1
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 JUNE 30, SIX MONTHS ENDED JUNE 30, $ THOUSANDS 2025 2024 $ % 2025 2024 $ % Cash Flow from Operations $9,304 $14,040 ($4,736) (34%) $35,370 $30,629 $4,741 15% Cash interest expense 2,959 3,590 ($631) (18%) 5,
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 JUNE 30, SIX MONTHS ENDED JUNE 30, $ THOUSANDS 2025 2024 2025 2024 Merger and acquisition due diligence and transaction costs $270 $687 $1,448 $1,296 Integration costs 402 294 959 728 Fair valu
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 futu
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