Definitive Healthcare Files Q2 2024 10-Q

TL;DR

DH's Q2 10-Q is in - check financials for latest performance.

AI Summary

Definitive Healthcare Corp. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates. Key financial data points and disclosures are provided for the quarter and year-to-date periods, reflecting the company's ongoing business activities and financial position.

Why It Matters

This filing provides investors and analysts with the latest financial performance data for Definitive Healthcare, crucial for understanding the company's health and future prospects.

Risk Assessment

Risk Level: medium — 10-Q filings are standard disclosures for public companies, but the specific financial details and forward-looking statements within can carry inherent risks.

Key Numbers

• 01701 — ZIP Code (Definitive Healthcare's business and mailing address ZIP code)
• 001-40815 — SEC File Number (Definitive Healthcare's SEC file number)

Key Players & Entities

• Definitive Healthcare Corp. (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• 20240805 (date) — Filing date
• 508-720-4224 (phone_number) — Company business phone number

FAQ

Key Financial Figures

• $0.001 — hich registered Class A Common Stock, $0.001 par value DH The Nasdaq Stock Marke

Filing Documents

• dh-20240630.htm (10-Q) — 2701KB
• dh-ex31_1.htm (EX-31.1) — 19KB
• dh-ex31_2.htm (EX-31.2) — 18KB
• dh-ex32_1.htm (EX-32.1) — 11KB
• 0000950170-24-090808.txt ( ) — 11004KB
• dh-20240630.xsd (EX-101.SCH) — 1470KB
• dh-20240630_htm.xml (XML) — 2175KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 33 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 51 Item 4.

Controls and Procedures

Controls and Procedures 52 Part II. OTHER INFORMATION 55 Item 1.

Legal Proceedings

Legal Proceedings 54 Item 1A.

Risk Factors

Risk Factors 54 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 54 Item 3. Defaults Upon Senior Securities 55 Item 4. Mine Safety Disclosures 55 Item 5. Other Information 55 Item 6. Exhibits 56

Signatures

Signatures 57 2 GLOSSARY As used in this Quarterly Report on Form 10-Q, the terms identified below have the meanings specified below unless otherwise noted or the context indicates otherwise. References in this Form 10-Q to "Definitive Healthcare Corp." refer to Definitive Healthcare Corp. and not to any of its subsidiaries unless the context indicates otherwise. References in this Form 10-Q to "Definitive Healthcare", "Definitive", the "Company", "we", "us", and "our" refer to Definitive Healthcare Corp. and its consolidated subsidiaries unless the context indicates otherwise. " AIDH Buyer " refers to AIDH Buyer, LLC, which is a wholly owned subsidiary of Definitive OpCo and the direct parent company of DH Holdings. " Advent " refers to funds affiliated with Advent International, a global private equity firm. " AIDH Management Holdings, LLC " is a special purpose investment vehicle through which certain persons, primarily employees and certain legacy investors, indirectly hold interests in Definitive OpCo. " Amended LLC Agreement " refers to the second amended and restated limited liability company agreement entered into by Definitive Opco pursuant to which members have the right to exchange all or a portion of their LLC units for newly issued shares of Class A Common Stock in Definitive Healthcare Corp. " ARR " refers to annual recurring revenue as of period end, which is calculated by aggregating annual subscription revenue from committed contractual amounts for all existing customers during that period. ARR may also include, in rare circumstances, existing customers with expired contracts who have provided oral or written commitments to renew. " Blocker Company " or " Blocker Companies " refers to certain entities treated as corporations for U.S. federal income tax purposes that held LLC units in Definitive OpCo which, through the Reorganization Transactions, were merged into Definitive Healthcare Corp. and are now holders of Class A Common S

- FINANC IAL INFORMATION

PART I - FINANC IAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS DEFINITIVE HEALTHCARE CORP. CONDENSED CONSOLID ATED BALANCE SHEETS (in thousands, except number of shares and par value) (Unaudited) June 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 120,901 $ 130,976 Short-term investments 175,612 177,092 Accounts receivable, net 44,180 59,249 Prepaid expenses and other assets 13,927 13,120 Deferred contract costs 13,701 13,490 Total current assets 368,321 393,927 Property and equipment, net 3,526 4,471 Operating lease right-of-use assets, net 7,840 9,594 Other assets 1,946 2,388 Deferred contract costs 15,268 17,320 Intangible assets, net 307,023 323,121 Goodwill 718,496 1,075,080 Total assets $ 1,422,420 $ 1,825,901 Liabilities and Equity Current liabilities: Accounts payable $ 6,078 $ 5,787 Accrued expenses and other liabilities 34,229 51,529 Deferred revenue 97,062 97,377 Term loan 13,750 13,750 Operating lease liabilities 2,361 2,239 Total current liabilities 153,480 170,682 Long term liabilities: Deferred revenue 4 9 Term loan 235,968 242,567 Operating lease liabilities 8,120 9,372 Tax receivable agreements liability 83,391 127,000 Deferred tax liabilities 44,625 67,163 Other liabilities 10,544 9,934 Total liabilities 536,132 626,727 Equity: Class A Common Stock, par value $ 0.001 , 600,000,000 shares authorized, 117,053,339 and 116,562,252 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 117 117 Class B Common Stock, par value $ 0.00001 , 65,000,000 shares authorized, 39,489,246 and 39,082,591 shares issued and outstanding, respectively, at June 30, 2024, and 39,762,700 and 39,168,047 shares issued and outstanding, respectively, at December 31, 2023 — — Additional paid-in capital 1,094,217 1,086,581 Accumulated other compr

View Full Filing

View this 10-Q filing on SEC EDGAR