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Definitive Healthcare Foresees 33% To 35% Revenue Growth In 2022

Definitive Healthcare Corp. (DH), which reported impressive financial results for the first quarter, foresees 33% to 35% revenue growth for this year.

The company is a provider of healthcare commercial intelligence to global life science companies, large healthcare systems and staffing agencies.

The financial results for the first quarter ended March 31, 2022 were reported on May 5.

On an adjusted basis, net income for the first quarter of 2022 increased to $7.7 million or $0.05 per share from $2.6 million in the year-ago quarter. Revenue for Q1, 2022 jumped to $50.1 million from $36.9 million in Q1 2021.

The company, which has been growing its client base, ended the first quarter of 2022 with 447 *enterprise customers. (*Customers with more than one hundred thousand dollars in annual recurring revenue).

Definitive Healthcare is confident in its ability to generate the unique combination of high growth and high profitability.

For the second quarter of 2022, the company expects adjusted net income to be $7.0 to $8.0 million, or $0.04 to $0.05 per share. Revenue for the quarter is expected to be in the range of $53.0 to $54.0 million, implying a 34% increase year over year.

For full year 2022, Definitive Healthcare anticipates adjusted net income to be $35.0 to $41.0 million, or $0.22 to $0.26 per share. Adjusted net income was $13.4 million in 2021.

Revenue for this year is expected to be in the range of $220.5 to $224.5 million, compared to $166.2 million reported in 2021.

Cash position:

As of March 31, 2022, the company had cash and cash equivalents of $229.79 million.

Definitive Healthcare shares began trading on the Nasdaq Global Select Market on September 15, 2021, priced at $27 each.

DH has thus far hit a low of $14.76 and a high of $50.30. The stock is currently trading at $19.31, up nearly 7%.

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