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Mar 31, 2022
Definitive Healthcare Q1 2022 Earnings Report
Definitive Healthcare's financial performance remained strong, marked by substantial revenue growth and strategic customer acquisitions.
Key Takeaways
Definitive Healthcare reported a 36% year-over-year increase in revenue, reaching $50.1 million for the first quarter of 2022. The company continued to grow its enterprise client base and achieved significant customer wins while also focusing on product innovation with the launch of the Passport Analytics Suite and Latitude Discovery.
Revenue increased by 36% year-over-year, totaling $50.1 million compared to $36.9 million in Q1 2021.
Net loss was ($13.1) million, representing 26% of revenue, compared to ($10.5) million, or 28% of revenue in Q1 2021.
Adjusted EBITDA reached $14.0 million, accounting for 28% of revenue, slightly down from $14.1 million, or 38% of revenue in Q1 2021.
The company ended the quarter with 447 enterprise customers, defined as those with more than $100,000 in annual recurring revenue.
Forward Guidance
Definitive Healthcare provided revenue guidance for Q2 2022 to be in the range of $53.0 - $54.0 million, a 34% increase year over year. Adjusted Operating Income is expected to be in the range of $13.0 – $14.0 million.
Positive Outlook
- Revenue is expected to be in the range of $53.0 – $54.0 million, a 34% increase year over year.
- Adjusted Operating Income is expected to be in the range of $13.0 – $14.0 million.
- Adjusted EBITDA is expected to be in the range of $14.0 – $15.0 million.
- Adjusted Net Income is expected to be $7.0 – $8.0 million.
- Adjusted Net Income Per Diluted Share is expected to be $0.04 – $0.05 on approximately 154.8 million weighted-average shares outstanding.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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