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Definitive Healthcare Corp. (DH) stock

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NASDAQ: DH Nasdaq Health Care Technology Next results ~November 5, 2026

C Fundamentals grade

Definitive Healthcare Corp. is a US-listed company in the health care technology industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: after-tax interest is 209% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy.

Price vs value

Under review: after-tax interest is 209% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy. We'll show the comparison once resolved.

Definitive Healthcare Corp. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds53 adding, 69 cuttingOf 26 active managers that changed their stake, 13 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Definitive Healthcare files

Where Definitive Healthcare stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $233m, down 5.0% on a year earlier, a steeper fall than the 3.9% decline a quarter earlier. Free-cash-flow margin fell to 12.3% from 16.9% a year earlier. Operating margin widened to -104.6% from -209.8%. The diluted share count is down 7.4% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 4 of our 7 financial-health checks.

Our model value for Definitive Healthcare is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 10, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

Definitive Healthcare Corp.'s trailing-twelve-month revenue fell 5.0% year on year, with a free-cash-flow margin of 12.3%. Where it stands out: change in share count of -7.4% ranks 2 of 19 health care technology companies we cover. Where it lags: operating margin of -104.6% ranks 19 of 22 health care technology companies we cover.

Our discounted-cash-flow model values the business at ~$2.0 per share in the base case (~$1.4–$2.7 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Net income rising while operating cash flow falls: TTM net income grew 44.8% while operating cash flow fell 34.2% — earnings and cash are telling different stories.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Margins widening. Operating margin is up 105.2 points on a year ago.
  • Shrinking share count. Diluted shares fell 7.4% in a year, so each share owns more of the business.

Things to watch

  • Results due soon. Results are expected around 5 November; the share price can move sharply on the day.
  • Revenue shrinking. Revenue fell 5.0% over the last 12 months.
  • Loss-making. Operating margin is -104.6%: costs exceed revenue.
  • Volatile shares. Over the past year the shares showed annualised volatility of 77% and a beta of 1.2 against the S&P 500.
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 30.6% ranks 12 of 15 health care technology companies we cover (median 20.1%).
  • Earnings expected to fall. The consensus expects earnings per share to fall 4% next year.

Latest results: FY2026 Q2

Filed August 10, 2026
Earnings per share
$0.05 against an average estimate of $0.04: beat by 17.1%
Revenue
$55m, down 9.1% on a year earlier
Share reaction
-9.8% in the first session after the results on August 10, 2026, against -0.3% for the S&P 500
Guidance given
revenue $54m to $55m (Third Quarter 2026); adjusted Operating Income $10.5m to $11.5m (Third Quarter 2026)
Next report
November 5, 2026; average EPS estimate $0.04

Definitive Healthcare's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+0.9%
  • 1 week+4.6%
  • 1 month+21.1%
  • This year-60.6%
  • 1 year-59.2%
  • 5 years-97.2%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$233M
Operating margin
-104.6%
Net margin
-72.3%
EPS (TTM, diluted)
$-1.61

Growth

Revenue growth
−5.0%
Change in growth rate
−1.1 pts
Share count change
−7.4%

Cash

Free cash flow (TTM)
$28.6M
FCF margin
12.3%
Stock pay % of revenue
10.9%

Earnings

Last results
August 10, 2026
Next results (est.)
November 5, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Announcement
  3. Leadership
  4. Results
  5. Guidance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Definitive Healthcare Corp. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: held for review: after-tax interest is 209% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Definitive Healthcare Corp. as an operating company, with every model that fits that kind of business. Cost of equity 10.4%: the 10-year Treasury yield (4.9%) plus a beta of 1.21 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. — Does not apply: This model is withheld pending its input or assumption review.
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$2.6 ~$1.9–$3.9 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: This model is withheld pending its input or assumption review.
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: This model is withheld pending its input or assumption review.
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Definitive Healthcare Corp. with Health Care Technology in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20212022202320242025Now
Share price$27.33$10.99$9.94$4.11$2.87$1.13
Market value$2.5bn$1.1bn$1.1bn$479m$306m$118m
+ Net debt (− = net cash)−$114m$119m$127m$139m$3m−$10m
Enterprise value$2.4bn$1.2bn$1.2bn$618m$309m$108m
Multiples
Price / sales 15.1x5.0x4.5x1.9x1.3x0.5x
Price / earnings ——————
Price / free cash flow 135.9x40.8x29.3x10.5x8.3x4.1x
EV / EBITDA ——————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

58 /100

Moderate moat

How hard Definitive Healthcare's competitive advantage looks for rivals to wear away, judged from 6 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 4 / 20

    Cash operating profit has been a median 4.2% of total assets over 5 years.

  • Pricing power 19 / 20

    Gross margin has been a median 76.7%, moving by 2.6 percentage points (standard deviation) across 6 years.

  • Durability 10 / 20

    Operating margin has been a median -62.9%; its worst year was -267.5%.

  • Cash conversion 18 / 20

    Free cash flow was positive in 5 of 5 years, at a median 15.1% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (63 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, after the close. Analysts expect revenue of $55m and EPS of $0.04 (range $0.04 to $0.05) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.19 −19% $221m −8%
Next $0.19 −4% $221m −0%

Next year's EPS estimate has moved −0.1% in 90 days, across 7 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +7.5% on 90 days ago. In the last 30 days, 4 analysts raised Definitive Healthcare Corp.'s forecast and 1 cut it.

Consensus EPS forecast Definitive Healthcare Corp., last 90 days
$0.18 $0.18 $0.19 $0.20 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.18 Current fiscal year, 60 days ago: $0.18 Current fiscal year, 30 days ago: $0.18 Current fiscal year, 7 days ago: $0.19 Current fiscal year, Now: $0.19 $0.19 Next fiscal year, 90 days ago: $0.19 Next fiscal year, 60 days ago: $0.18 Next fiscal year, 30 days ago: $0.19 Next fiscal year, 7 days ago: $0.19 Next fiscal year, Now: $0.19 $0.19

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.18$0.19
60 days ago $0.18$0.18
30 days ago $0.18$0.19
7 days ago $0.19$0.19
Now $0.19$0.19

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.04 $0.05 +17.1%
Mar 2026 $0.03 $0.06 +84.3%
Dec 2025 $0.06 $0.06 −1.9%
Sept 2025 $0.06 $0.07 +27.3%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 10, 2026
  • Revenue Full Year 2026 $220m to $222m
    “Revenue is expected to be in the range of $220.0 - $222.0 million.” source
  • Revenue Third Quarter 2026 $54m to $55m
    “Revenue is expected to be in the range of $54.0 - $55.0 million.” source
  • Adjusted Net Income Per Diluted Share Full Year 2026 $0.18 to $0.20 Non-GAAP
    “Adjusted Net Income Per Diluted Share is expected to be $0.18 to $0.20 per share on approximately 144.6 million weighted-average shares outstanding.” source
  • Adjusted Net Income Per Diluted Share Third Quarter 2026 $0.04 to $0.05 Non-GAAP
    “Adjusted Net Income Per Diluted Share is expected to be $0.04 to $0.05 per share on approximately 145.1 million weighted-average shares outstanding.” source
  • Adjusted EBITDA Margin Full Year 2026 26% to 27% Non-GAAP
    “Adjusted EBITDA is expected to be in the range of $57.0 - $59.0 million, and 26% - 27% adjusted EBITDA Margin.” source
  • Adjusted EBITDA Margin Third Quarter 2026 25% to 27% Non-GAAP
    “Adjusted EBITDA is expected to be in the range of $13.5 - $14.5 million, and 25% - 27% adjusted EBITDA Margin.” source
Show 6 more items
  • Adjusted Operating Income Full Year 2026 $45.5m to $47.5m Non-GAAP
    “Adjusted Operating Income is expected to be in the range of $45.5 - $47.5 million.” source
  • Adjusted EBITDA Full Year 2026 $57m to $59m Non-GAAP
    “Adjusted EBITDA is expected to be in the range of $57.0 - $59.0 million, and 26% - 27% adjusted EBITDA Margin.” source
  • Adjusted Net Income Full Year 2026 $27m to $29m Non-GAAP
    “Adjusted Net Income is expected to be $27.0 - $29.0 million.” source
  • Adjusted Operating Income Third Quarter 2026 $10.5m to $11.5m Non-GAAP
    “Adjusted Operating Income is expected to be in the range of $10.5 - $11.5 million.” source
  • Adjusted EBITDA Third Quarter 2026 $13.5m to $14.5m Non-GAAP
    “Adjusted EBITDA is expected to be in the range of $13.5 - $14.5 million, and 25% - 27% adjusted EBITDA Margin.” source
  • Adjusted Net Income Third Quarter 2026 $5.5m to $6.5m Non-GAAP
    “Adjusted Net Income is expected to be $5.5 - $6.5 million.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

7 analysts, Oct 2026
Buy114%
Hold571%
Sell114%

Monthly trend

  1. Oct 20261517
  2. Sep 20261528
  3. Aug 20261528

Counts of recommendations published by analysts covering Definitive Healthcare Corp., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
4.3%
of tradable shares
Days to cover
2.72
at average volume
Short interest, 1 month
+6%
to October 15, 2026
Held by institutions
83%
of shares
Held by insiders
6.2%
of shares
Employees
678
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −59.2%

$2.77 on October 31, 2025 to $1.13

ThenNowEffect
Revenue (last 12 months) $245m $233m −5.0%
P/S multiple 1.3x 0.5x −60.3%
Share count 113m 104m +8.0%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years −84.5%

$7.27 on November 3, 2023 to $1.13

ThenNowEffect
Revenue (last 12 months) $238m $233m −2.3%
P/S multiple 3.6x 0.5x −86.1%
Share count 119m 104m +14.2%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 20222023202420252026 to date
Return
DH−60%−10%−59%−30%−61%
Industry peers (median)−67%−25%−8%−27%−26%
S&P 500−18%+26%+25%+18%+11%
Months that ended higher
DH42%50%33%58%27%
S&P 50042%67%75%75%46%
Largest fall from a high during the year
DH−65%−59%−65%−59%−78%
S&P 500−25%−10%−8%−19%−9%

Worst fall since September 15, 2021: 99% from September 17, 2021 to June 25, 2026. Getting back needed a 7701% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$0.63 – $2.93
From 52-week high
−61.4%
vs 50-day average
+14.5%
vs 200-day average
+5.5%
Volatility (1 year)
77%
Beta vs S&P 500
1.17

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 8 down
typical move ±14.1%
After a week
3 up, 9 down
typical move ±15.7%
After a month
5 up, 7 down
typical move ±22.1%
Results releasedNext dayS&P 500 next day5 days21 days
August 10, 2026 −9.8% −0.3% −10.5% +44.3%
May 7, 2026 +0.8% +0.5% −9.0% −10.4%
February 26, 2026 −9.2% −1.0% −13.5% −25.5%
November 6, 2025 +7.7% −1.0% 0.0% −9.9%
August 7, 2025 −1.8% +0.7% −3.3% +5.6%
May 8, 2025 +35.7% +0.6% +22.1% +34.6%
February 27, 2025 −36.7% −0.1% −48.4% −42.4%
November 7, 2024 −1.4% +1.2% +3.7% +9.3%
August 5, 2024 −1.4% −2.0% +0.8% +21.6%
July 30, 2024 −34.7% +1.1% −38.9% −25.0%
May 7, 2024 −27.1% +0.1% −25.7% −22.9%
February 28, 2024 +2.3% +0.2% −12.6% −13.3%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Definitive Healthcare Corp. in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Definitive Healthcare Corp.
$230M $240M $250M $260M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $246.1M Revenue (TTM), FY23 Q4: $251.4M Revenue (TTM), FY24 Q1: $255.7M Revenue (TTM), FY24 Q2: $258.5M Revenue (TTM), FY24 Q3: $255.8M Revenue (TTM), FY24 Q4: $252.2M Revenue (TTM), FY25 Q1: $247.9M Revenue (TTM), FY25 Q2: $244.9M Revenue (TTM), FY25 Q3: $242.3M Revenue (TTM), FY25 Q4: $241.5M Revenue (TTM), FY26 Q1: $238.3M Revenue (TTM), FY26 Q2: $232.7M $232.7M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $246.1M
FY23 Q4 $251.4M
FY24 Q1 $255.7M
FY24 Q2 $258.5M
FY24 Q3 $255.8M
FY24 Q4 $252.2M
FY25 Q1 $247.9M
FY25 Q2 $244.9M
FY25 Q3 $242.3M
FY25 Q4 $241.5M
FY26 Q1 $238.3M
FY26 Q2 $232.7M
Revenue growth, TTM YoY Definitive Healthcare Corp.
-10% 0% 10% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 18.1% Revenue growth, TTM YoY, FY23 Q4: 12.9% Revenue growth, TTM YoY, FY24 Q1: 10.3% Revenue growth, TTM YoY, FY24 Q2: 8.5% Revenue growth, TTM YoY, FY24 Q3: 4.0% Revenue growth, TTM YoY, FY24 Q4: 0.3% Revenue growth, TTM YoY, FY25 Q1: -3.0% Revenue growth, TTM YoY, FY25 Q2: -5.2% Revenue growth, TTM YoY, FY25 Q3: -5.3% Revenue growth, TTM YoY, FY25 Q4: -4.2% Revenue growth, TTM YoY, FY26 Q1: -3.9% Revenue growth, TTM YoY, FY26 Q2: -5.0% -5.0%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 18.1%
FY23 Q4 12.9%
FY24 Q1 10.3%
FY24 Q2 8.5%
FY24 Q3 4.0%
FY24 Q4 0.3%
FY25 Q1 -3.0%
FY25 Q2 -5.2%
FY25 Q3 -5.3%
FY25 Q4 -4.2%
FY26 Q1 -3.9%
FY26 Q2 -5.0%
Operating margin (TTM) Definitive Healthcare Corp.
-400% -300% -200% -100% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -134.2% Operating margin (TTM), FY23 Q4: -131.2% Operating margin (TTM), FY24 Q1: -130.5% Operating margin (TTM), FY24 Q2: -267.5% Operating margin (TTM), FY24 Q3: -242.9% Operating margin (TTM), FY24 Q4: -281.8% Operating margin (TTM), FY25 Q1: -354.7% Operating margin (TTM), FY25 Q2: -209.8% Operating margin (TTM), FY25 Q3: -122.7% Operating margin (TTM), FY25 Q4: -92.9% Operating margin (TTM), FY26 Q1: -101.1% Operating margin (TTM), FY26 Q2: -104.6% -104.6%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -134.2%
FY23 Q4 -131.2%
FY24 Q1 -130.5%
FY24 Q2 -267.5%
FY24 Q3 -242.9%
FY24 Q4 -281.8%
FY25 Q1 -354.7%
FY25 Q2 -209.8%
FY25 Q3 -122.7%
FY25 Q4 -92.9%
FY26 Q1 -101.1%
FY26 Q2 -104.6%
FCF margin (TTM) Definitive Healthcare Corp.
10% 15% 20% 25% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 10.2% FCF margin (TTM), FY23 Q4: 15.2% FCF margin (TTM), FY24 Q1: 16.0% FCF margin (TTM), FY24 Q2: 16.7% FCF margin (TTM), FY24 Q3: 20.6% FCF margin (TTM), FY24 Q4: 18.2% FCF margin (TTM), FY25 Q1: 19.3% FCF margin (TTM), FY25 Q2: 16.9% FCF margin (TTM), FY25 Q3: 14.9% FCF margin (TTM), FY25 Q4: 15.3% FCF margin (TTM), FY26 Q1: 11.4% FCF margin (TTM), FY26 Q2: 12.3% 12.3%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 10.2%
FY23 Q4 15.2%
FY24 Q1 16.0%
FY24 Q2 16.7%
FY24 Q3 20.6%
FY24 Q4 18.2%
FY25 Q1 19.3%
FY25 Q2 16.9%
FY25 Q3 14.9%
FY25 Q4 15.3%
FY26 Q1 11.4%
FY26 Q2 12.3%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 118 166 223 251 252 242 233
Gross profit 88 125 180 204 197 183 175
EBITDA −15 −26 −42 −328 −709 −221 −224
Operating income −16 −27 −44 −330 −711 −224 −243
Net income 0 −18 −7 −202 −413 −139 −168
Diluted EPS — −$0.19 −$0.07 −$1.79 −$3.54 −$1.30 −$1.61
Growth (year on year)
Revenue — +40.4% +34.0% +12.9% +0.3% −4.2% −5.0%
Margins
Gross margin 74.2% 75.5% 80.9% 81.1% 78.3% 75.9% 75.2%
EBITDA margin −12.5% −15.4% −18.8% −130.4% −281.0% −91.5% −96.1%
Operating margin −13.4% −16.4% −19.8% −131.2% −281.8% −92.9% −104.6%
Net margin 0.0% −10.7% −3.2% −80.5% −163.8% −57.5% −72.3%
Free-cash-flow margin 18.4% 11.1% 12.2% 15.2% 18.2% 15.3% 12.3%
Cash flow
Cash from operations 23 25 36 41 58 54 41
Capital spending 1 7 8 3 12 17 13
Free cash flow 22 18 27 38 46 37 29
Stock-based pay 2 10 36 49 38 29 25
Free cash flow after stock pay 20 9 −9 −11 8 8 3
Balance sheet
Cash 25 387 147 131 105 164 171
Total debt 473 273 266 258 244 166 161
Net debt (negative = net cash) 448 −114 119 127 139 3 −10
Diluted shares — 92m 101m 113m 117m 107m 104m
Returned to shareholders
Buybacks 0 232 0 0 22 49 9
Total returned 0 232 0 0 22 49 9

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

4 of 7 checks passed · June 30, 2026
What it owns · $497m
Short-term assets $240mLonger-term assets $257m
What it owes, and who funded it · $497m
Short-term liabilities $129mLonger-term liabilities $180mShareholders' equity $188m
  • Short-term assets cover short-term liabilities $240m of assets due within a year against $129m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $240m short-term assets against $180m of longer-dated liabilities.
  • More cash than debt $171m of cash against $161m of debt.
  • Debt below 40% of shareholders' equity Debt is 86% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 18% to 86% over five years.
  • A year's operating cash flow covers at least 20% of debt $41m of operating cash flow against $161m of debt.
  • Operating profit covers interest at least five times over Operating income of −$243m against $11m of interest.

From Definitive Healthcare Corp.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$9.2M
Returned to shareholders
32%
of free cash flow
Buybacks, last 3 fiscal years
$71.8M
Diluted share count
−7.4%
year over year
Total shareholder yield
7.7%
dividends 0.0% + buybacks 7.7% of market value
R&D spending
13.2%
of revenue
Days sales outstanding
49 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in health care technology
Last 12 months unless stated DH AMWL HCAT HSTM CCLD WGS Median
Revenue, last 12 months $233m $219m $292m $321m $129m $454m $292m
Revenue growth, last 12 months −5.0% −19.0% −7.5% 8.8% 15.1% 25.4% 8.8%
Revenue growth, 3-year average −0.8% −7.4% 0.9% 5.4% 0.8% 24.3% 0.8%
Revenue growth, latest quarter −9.1% −26.6% −12.7% 12.5% 16.4% 11.4% 7.4%
Gross margin 75.2% — — 59.1% — 69.4% 58.6%
Operating margin −104.6% −37.3% −84.4% 8.0% 7.1% −20.3% −12.5%
Operating margin, 3-year average −194.0% −72.7% −48.1% 7.3% −7.0% −19.0% −18.8%
Net margin −72.3% −35.7% −90.6% 6.6% 6.2% −23.4% −12.5%
Cash from operations / revenue 17.8% −12.1% 9.7% 22.4% 20.8% −10.7% 9.7%
Free-cash-flow margin 12.3% −12.1% 9.2% 21.7% 17.7% −16.7% 9.2%
Free-cash-flow margin, 3-year average 15.3% −34.5% 1.7% 21.4% 16.7% −18.7% 8.2%
Stock pay / revenue 10.9% 5.9% 6.0% 2.7% 0.3% 7.9% 9.5%
Change in share count −7.4% 6.2% 10.3% −3.3% 73.1% 2.6% 2.9%

Median of all 23 companies we cover in health care technology. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

23 health care technology companies
Measure Company Peer median Rank
Revenue growth Growth -5.0% 8.8% 19 of 23
Change in growth rate Growth -1.1pp -0.3pp 15 of 23
Gross margin Profitability 75.2% 58.2% 2 of 14
Operating margin Profitability -104.6% -6.6% 19 of 22
Net margin Profitability -72.3% -12.5% 17 of 23
Free-cash-flow margin Cash generation 12.3% 10.6% 9 of 22
Stock pay as % of revenue Cash generation 10.9% 9.7% 13 of 22
Long-term debt as % of assets Balance sheet 30.6% 20.1% 12 of 15
Change in share count Balance sheet -7.4% 2.6% 2 of 19
Days sales outstanding Balance sheet 49 days 58 days 7 of 21

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Subscription Services $232M 96.2% ▼ 5.2%
Professional Services $9.3M 3.8% ▲ 27.1%
Geography
Region Revenue Share YoY
United States $224M 92.9% ▼ 7.2%
Outside the US $17.2M 7.1% ▲ 65.1%

From Definitive Healthcare Corp.'s 10-K filed February 26, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$72M
Institutions reporting
99
Shares held vs prior quarter
▼ 2.4%
Positions opened / closed
19 / 34

Top buyers and sellers, Q2 2026: 53 institutions bought and 69 sold ; the biggest buyer was Kennedy Capital Management LLC (+1.7M shares) and the biggest seller Blackrock, Inc (−1.6M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Advent International, L.P. $51.9M 62.5M 72.1% 0.0%
Goldman Sachs Group Inc $5M 6.0M 6.9% ▼ 1.4%
D. E. Shaw & Co., Inc. $1.6M 2.0M 2.3% ▼ 6.0%
Vanguard Capital Management LLC $1.5M 1.8M 2.1% ▼ 2.0%
Kennedy Capital Management LLC $1.4M 1.7M 2.0% New
Dimensional Fund Advisors LP $1.2M 1.5M 1.7% ▼ 12.8%
Blackrock, Inc. $1.2M 1.4M 1.6% ▼ 52.8%
AQR Capital Management LLC $747,087 899K 1.0% ▲ 28.1%
Geode Capital Management, LLC $457,944 551K 0.6% ▼ 53.3%
Gsa Capital Partners LLP $437,000 526K 0.6% ▲ 56.7%
Renaissance Technologies LLC $436,256 525K 0.6% ▲ 2.7%
Two Sigma Investments, LP $423,201 509K 0.6% ▲ 118.1%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Definitive Healthcare Corp.'s complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 5, 2026 estimated from the company's past filing pattern, not announced

  • August 10, 2026
  • May 7, 2026
  • February 26, 2026
  • November 6, 2025
  • August 7, 2025
  • May 8, 2025

Recent SEC filings

Data status

When each part of this page on Definitive Healthcare Corp. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Definitive Healthcare Corp. in brief

What does Definitive Healthcare Corp. do?
Definitive Healthcare Corp. is a US-listed company in the health care technology industry. Its financial year ends in December.
What is Definitive Healthcare Corp.'s stock ticker?
Definitive Healthcare Corp. trades under the ticker DH on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Definitive Healthcare Corp.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Definitive Healthcare Corp. reported revenue of $233M, 5.0% lower than a year earlier, according to its SEC filings.
What is Definitive Healthcare Corp.'s free cash flow?
Definitive Healthcare Corp.'s free-cash-flow margin is 12.3% of revenue over the trailing twelve months, ranking 9 of the 22 health care technology companies we cover.
Who are Definitive Healthcare Corp.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Advent International, L.P., Goldman Sachs Group Inc and D. E. Shaw & Co., Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Definitive Healthcare Corp. buying back stock, and does it pay a dividend?
Definitive Healthcare Corp. spent $9.2M on share repurchases over the trailing twelve months, and its diluted share count fell 7.4% over the year.
What is Definitive Healthcare Corp.'s market cap?
On November 2, 2026, Definitive Healthcare Corp.'s market capitalisation was about $118M and net debt of -$10.2M. Market figures come from third-party market data and may be delayed.
How much debt does Definitive Healthcare Corp. have?
Definitive Healthcare Corp.'s debt-to-equity ratio is 85.5%, from its latest balance sheet (17.6% five years earlier). The financial health section below sets out its other solvency checks.
Who are Definitive Healthcare Corp.'s competitors?
In our Health Care Technology peer group, the companies closest to Definitive Healthcare Corp. are American Well Corp, Health Catalyst, Inc., Healthstream Inc, Carecloud, Inc. and Genedx Holdings Corp. The side-by-side comparison below sets their revenue, margins and growth against Definitive Healthcare Corp.'s.
When is Definitive Healthcare Corp.'s next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Definitive Healthcare Corp. announces its own schedule.