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Definitive Healthcare Corp.

CIK:0001861795|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 55,195	$ 60,750	$ 111,124	$ 119,941
Cost of revenue:
Cost of revenue exclusive of amortization	9,418	8,800	18,773	18,941
Amortization	5,236	5,337	10,160	10,627
Gross profit	40,541	46,613	82,191	90,373
Operating expenses:
Sales and marketing	19,158	20,469	38,736	41,122
Product development	6,756	7,968	13,255	17,269
General and administrative	10,806	12,673	22,890	24,942
Depreciation and amortization	8,542	9,001	16,867	17,528
Transaction, integration, and restructuring expenses	2,027	672	1,262	1,937
Goodwill impairment	0	0	197,219	176,531
Total operating expenses	47,289	50,783	290,229	279,329
Loss from operations	(6,748)	(4,170)	(208,038)	(188,956)
Other income (expense), net:
Interest income	1,253	1,749	2,550	3,801
Interest expense	(2,628)	(2,990)	(5,257)	(5,423)
Gain (loss) on remeasurement of Tax Receivable Agreement liability	64	(2,901)	6,585	17,763
Loss on partial extinguishment of debt	0	0	0	(507)
Other income (expense), net	262	(497)	574	(1,466)
Total other (expense) income, net	(1,049)	(4,639)	4,452	14,168
Net loss before income taxes	(7,797)	(8,809)	(203,586)	(174,788)
Benefit from (provision for) income taxes	345	(456)	3,780	10,430
Net loss	(7,452)	(9,265)	(199,806)	(164,358)
Less: Net loss attributable to noncontrolling interests	(2,030)	(1,714)	(55,763)	(49,579)
Net loss attributable to Definitive Healthcare Corp.	$ (5,422)	$ (7,551)	$ (144,043)	$ (114,779)
Net loss per share of Class A common stock:
Basic	$ (0.05)	$ (0.07)	$ (1.37)	$ (1.05)
Diluted	$ (0.05)	$ (0.07)	$ (1.37)	$ (1.05)
Weighted average Class A common stock outstanding:
Basic	105,810,516	106,815,740	105,245,928	109,782,640
Diluted	105,810,516	106,815,740	105,245,928	109,782,640

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2026	Mar. 31, 2026	Jun. 30, 2025	Mar. 31, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Cash flows provided by (used in) operating activities:
Net loss	$ (7,452)	$ (192,354)	$ (9,265)	$ (155,093)	$ (199,806)	$ (164,358)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization					2,074	1,459
Amortization of intangible assets					24,953	26,696
Amortization of deferred contract costs					7,439	7,935
Equity-based compensation					10,474	14,299
Amortization of debt issuance costs					340	249
Recovery of doubtful accounts receivable					(192)	(321)
Loss on partial extinguishment of debt	0		0		0	507
Non-cash restructuring charges					183	192
Goodwill impairment charges	0	197,200	0	176,500	197,219	176,531	$ 196,064
Tax Receivable Agreement remeasurement					(6,585)	(17,763)
Changes in fair value of contingent consideration					0	(690)
Deferred income taxes					(4,002)	(10,609)
Changes in operating assets and liabilities:
Accounts receivable					21,223	15,874
Prepaid expenses and other assets					(949)	(4,230)
Deferred contract costs					(5,787)	(6,259)
Accounts payable, accrued expenses and other liabilities					(13,537)	(12,145)
Deferred revenue					(10,027)	8,003
Net cash provided by operating activities					23,020	35,370
Cash flows (used in) provided by investing activities:
Purchases of property, equipment, and data assets					(6,144)	(9,999)
Purchases of short-term investments					(12,500)	(64,065)
Maturities of short-term investments					17,326	147,447
Net cash (used in) provided by investing activities					(1,318)	73,383
Cash flows (used in) provided by financing activities:
Repayments of term loan					(4,375)	(248,438)
Proceeds from term loan					0	175,000
Payments of debt issuance costs					0	(1,660)
Taxes paid related to net share settlement of equity awards					(1,446)	(2,483)
Repurchases of Class A common stock					0	(40,231)
Payments under Tax Receivable Agreement					(8,077)	(13,767)
Member distributions					0	(2,827)
Net cash used in financing activities					(13,898)	(134,406)
Net increase (decrease) in cash and cash equivalents					7,804	(25,653)
Effect of exchange rate changes on cash and cash equivalents					(565)	1,259
Cash and cash equivalents, beginning of period		$ 163,627		$ 105,378	163,627	105,378	105,378
Cash and cash equivalents, end of period	$ 170,866		$ 80,984		170,866	80,984	$ 163,627
Supplemental cash flow disclosures:
Interest					4,918	5,201
Income taxes, net of refunds received					200	32
Supplemental disclosure of non-cash investing activities:
Capital expenditures included in accounts payable and accrued expenses and other liabilities					$ 2,926	$ 4,947

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 170,866	$ 163,627
Short-term investments	12,729	17,262
Accounts receivable, net	30,970	51,978
Prepaid expenses and other assets	13,343	11,972
Deferred contract costs	12,190	12,766
Total current assets	240,098	257,605
Property and equipment, net	14,753	12,680
Operating lease right-of-use assets, net	4,216	5,394
Other assets	3,277	2,277
Deferred contract costs	11,764	12,840
Intangible assets, net	222,724	247,477
Goodwill	0	197,219
Total assets	496,832	735,492
Current liabilities:
Accounts payable	4,531	3,596
Accrued expenses and other liabilities	23,787	44,773
Deferred revenue	89,342	96,989
Term loan	8,750	8,750
Operating lease liabilities	2,654	2,679
Total current liabilities	129,064	156,787
Long term liabilities:
Deferred revenue	0	2,383
Term loan	151,885	156,085
Operating lease liabilities	3,767	5,152
Tax Receivable Agreement liability	12,034	19,212
Deferred tax liabilities	11,072	14,634
Other liabilities	1,145	2,247
Total liabilities	308,967	356,500
Equity:
Additional paid-in capital	1,069,701	1,061,965
Accumulated other comprehensive deficit	(1,606)	(1,450)
Accumulated deficit	(923,549)	(779,506)
Noncontrolling interests	43,213	97,879
Total equity	187,865	378,992
Total liabilities and equity	496,832	735,492
Common Class A
Equity:
Common stock, value	106	104
Common Class B
Equity:
Common stock, value	$ 0	$ 0