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Jun 30, 2024
Definitive Healthcare Q2 2024 Earnings Report
Definitive Healthcare's financial performance underscored commitment to operational efficiency and profitability.
Key Takeaways
Definitive Healthcare reported a 5% year-over-year increase in revenue, reaching $63.7 million for the second quarter of fiscal year 2024. The company's adjusted EBITDA increased by 21% to $20.9 million, representing 33% of revenue. However, the company experienced a net loss of $(306.2) million, which included goodwill impairment charges of $363.6 million.
Revenue was $63.7 million, a 5% increase compared to $61.0 million in Q2 2023.
Net loss, including goodwill impairment charges of $363.6 million, was $(306.2) million, a 2,538% increase compared to $(11.6) million in Q2 2023.
Adjusted Net Income was $14.2 million, compared to $12.4 million in Q2 2023.
Adjusted EBITDA was $20.9 million, up 21% from Q2 2023.
Forward Guidance
The Company is issuing the following financial guidance. Third Quarter 2024: Revenue is expected to be in the range of $61.0 – $62.5 million. Adjusted Operating Income is expected to be in the range of $16.0 – $17.5 million. Adjusted EBITDA is expected to be in the range of $17.5 – $19.0 million, and 28-31% adjusted EBITDA margin. Adjusted Net Income is expected to be $12.0 – $13.0 million. Adjusted Net Income Per Diluted Share is expected to be $0.07 – $0.08 per share on approximately 156.5 million weighted-average shares outstanding. Full Year 2024: Revenue is expected to be in the range of $247 – $251 million. Adjusted Operating Income is expected to be in the range of $67 – $71 million. Adjusted EBITDA is expected to be in the range of $74 – $77 million, for a full-year adjusted EBITDA margin of 30-31%. Adjusted Net Income is expected to be $50 – $53 million. Adjusted Net Income Per Diluted Share is expected to be $0.32 – $0.34 per share on approximately 156.8 million weighted-average shares outstanding.
Positive Outlook
- Revenue is expected to be in the range of $61.0 – $62.5 million for Q3 2024.
- Adjusted Operating Income is expected to be in the range of $16.0 – $17.5 million for Q3 2024.
- Adjusted EBITDA is expected to be in the range of $17.5 – $19.0 million for Q3 2024.
- Adjusted EBITDA margin of 28-31% is expected for Q3 2024.
- Adjusted Net Income is expected to be $12.0 – $13.0 million for Q3 2024.
Challenges Ahead
Historical Earnings Impact
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