DH · Definitive Healthcare Corp.

Definitive Healthcare's Q1 2026 results reflect a company navigating a revenue decline while improving profitability and cash generation. Revenue of $55.9 million decreased 6% year-over-year from $59.2 million, but landed at the top end of guidance, suggesting stabilization. The net loss of $192.4 million was primarily driven by a $197.2 million goodwill impairment charge, similar to the prior year's $176.5 million impairment. On an adjusted basis, net income rose to $8.5 million from $7.0 million, and adjusted EBITDA increased to $15.3 million (27% margin) from $14.7 million (25% margin), indicating successful cost management. Operating cash flow of $11.6 million and unlevered free cash flow of $18.0 million underscore strong cash generation. Management highlighted early improvements in retention rates and strategic progress. Customer wins included a life sciences company signing a six-figure multi-year deal and an expansion with an existing Monocl customer. For Q2 2026, the company expects revenue of $55-56 million, adjusted EBITDA of $13.5-14.5 million (24-26% margin), and adjusted net income of $5-6 million. Full-year 2026 guidance calls for revenue of $220-226 million, adjusted EBITDA of $55-59 million (25-26% margin), and adjusted net income of $23-27 million. The guidance implies a gradual recovery in the second half of the year. The company's focus on healthcare-specific data and analytics, combined with disciplined cost control, positions it to navigate the current environment while investing for long-term growth.