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Sep 30, 2024
Definitive Healthcare Q3 2024 Earnings Report
Revenue exceeded guidance, and a $100 million repurchase authorization was announced.
Key Takeaways
Definitive Healthcare reported a revenue of $62.7 million, a decrease of 4% compared to Q3 2023. The company's financial performance exceeded the high end of its guidance on revenue, adjusted net income, and adjusted EBITDA. A stock repurchase program of up to $100 million was authorized.
Revenue was $62.7 million, a decrease of 4% from $65.3 million in Q3 2023.
Net Loss, inclusive of goodwill impairment charges of $228.2 million, was $(187.8) million, down 24% compared to $(248.7) million in Q3 2023.
Adjusted Net Income was $15.4 million, compared to $14.6 million in Q3 2023.
Adjusted EBITDA was $20.6 million, down 5% from Q3 2023.
Forward Guidance
The Company is issuing the following financial guidance. Revenue is expected to be in the range of $60.0 – $61.0 million. Adjusted Operating Income is expected to be in the range of $14.0 – $15.0 million. Adjusted EBITDA is expected to be in the range of $16.0 – $17.0 million, and 26 – 28 % adjusted EBITDA margin. Adjusted Net Income is expected to be $10.5 – $11.5 million. Adjusted Net Income Per Diluted Share is expected to be approximately $0.07 per share on approximately 154.4 million weighted-average shares outstanding.
Positive Outlook
- Revenue is expected to be in the range of $60.0 – $61.0 million.
- Adjusted Operating Income is expected to be in the range of $14.0 – $15.0 million.
- Adjusted EBITDA is expected to be in the range of $16.0 – $17.0 million
- Adjusted EBITDA is expected to be 26 – 28 % adjusted EBITDA margin.
- Adjusted Net Income is expected to be $10.5 – $11.5 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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