Definitive Healthcare (US:DH) GlobeNewswire News Roomยท2024-11-07 21:05Core Insights - Definitive Healthcare reported a revenue of $62.7 million for Q3 2024, a decrease of 4% from $65.3 million in Q3 2023 [2] - The company experienced a net loss of $(187.8) million, which includes goodwill impairment charges of $228.2 million, compared to a net loss of $(248.7) million in Q3 2023 [2] - Adjusted net income for the quarter was $15.4 million, an increase from $14.6 million in Q3 2023 [2] - The CEO highlighted improved expansion sales and the return of several former customers as positive indicators for future momentum [3] Financial Performance - Revenue for Q3 2024 was $62.7 million, down 4% from Q3 2023 [2] - Adjusted EBITDA was $20.6 million, a decrease of 5% from Q3 2023, maintaining a 33% margin [2] - Cash flow from operations was $19.4 million, with unlevered free cash flow at $24.3 million [2] Customer Growth - The enterprise customer base grew by one year-over-year, totaling 530 customers [4] - Notable customer wins included a leading health organization focused on Alzheimer's care and a California-based pharmaceutical company [4][5] Share Repurchase Program - The Board of Directors authorized a stock repurchase program of up to $100 million, effective upon completion of a previous $20 million program [7] Executive Transition - The CFO, Richard Booth, will leave the company effective June 1, 2025, with a search for his successor commencing [8][9] Business Outlook - For Q4 2024, revenue is expected to be between $60.0 million and $61.0 million, with adjusted net income projected at $10.5 million to $11.5 million [10] - Full-year 2024 revenue is anticipated to be in the range of $250.0 million to $251.0 million [11]