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Mar 31, 2023
Definitive Healthcare Q1 2023 Earnings Report
Definitive Healthcare's financial results for Q1 2023 were reported, showing revenue growth and strategic customer wins.
Key Takeaways
Definitive Healthcare reported a solid start to 2023 with an 18% increase in revenue compared to Q1 2022, reaching $59.2 million. The company experienced a net loss of $15.6 million, while adjusted EBITDA stood at $15.7 million, representing 26% of revenue. Customer wins and product innovations were also highlighted.
Revenue increased by 18% year-over-year, reaching $59.2 million.
Net loss was ($15.6) million, representing 26% of revenue.
Adjusted EBITDA was $15.7 million, or 26% of revenue.
Unlevered free cash flow was $20.4 million, or 34% of revenue.
Forward Guidance
Definitive Healthcare provided financial guidance for the second quarter and full year of 2023.
Positive Outlook
- Second quarter revenue is expected to be in the range of $60.5 – $61.5 million, a 12% increase year over year.
- Second quarter Adjusted Operating Income is expected to be in the range of $14.5 – $15.5 million.
- Second quarter Adjusted EBITDA is expected to be in the range of $16.0 – $17.0 million.
- Second quarter Adjusted Net Income is expected to be $7.0 – $8.0 million.
- Full year revenue is expected to be in the range of $249.0 – $255.0 million, up 12% – 15% from prior year.
Challenges Ahead
- The company notes ongoing macroeconomic challenges.
- Full year Adjusted Operating Income is expected to be in the range of $61.5 – $65.5 million.
- Full year Adjusted EBITDA is expected to be in the range of $67.0 – $71.0 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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