Definitive Healthcare Corp (DH)
NASDAQ:DH
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Definitive Healthcare Corp
(NASDAQ:DH)
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Rating:46Neutral
Price Target:
$1.00
▼(-6.54% Downside)
Action:ReiteratedDate:04/02/26
The score is held down primarily by weak financial performance (sharp revenue contraction and ongoing losses) and bearish technicals (price below key moving averages with negative MACD). Offsetting factors include positive cash generation, a substantially de-risked balance sheet, and an earnings call that highlights operational progress and profitability discipline despite continued guided revenue declines.
Positive Factors
Recurring SaaS model and proprietary data moat
Definitive’s subscription SaaS model plus proprietary longitudinal datasets and broad customer penetration create durable switching costs. Integrations into systems of record (about half of customers) increase stickiness and raise the cost of replacement, supporting recurring revenue and long-term upsell potential.
Negative Factors
Top-line contraction and guided further declines
Ongoing revenue declines and conservative 2026 guidance reduce scale and market momentum, making it harder to leverage fixed costs and sustain go-to-market investments. Persistent top-line shrinkage weakens competitive positioning and increases execution risk over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring SaaS model and proprietary data moat
Definitive’s subscription SaaS model plus proprietary longitudinal datasets and broad customer penetration create durable switching costs. Integrations into systems of record (about half of customers) increase stickiness and raise the cost of replacement, supporting recurring revenue and long-term upsell potential.
Read all positive factors
Definitive Healthcare Corp (DH) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$152.81M
Dividend YieldN/A
Average Volume (3M)338.90K
Price to Earnings (P/E)―
Beta (1Y)1.58
Revenue Growth-5.30%
EPS Growth46.01%
CountryUS
Employees782
SectorHealthcare
Sector Strength45
IndustryMedical - Healthcare Information Services
Share Statistics
EPS (TTM)0.06
Shares Outstanding104,472,374
10 Day Avg. Volume311,870
30 Day Avg. Volume338,897
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)1.09
Price to Sales (P/S)1.27
P/FCF Ratio8.26
Enterprise Value/Market Cap0.80
Enterprise Value/Revenue0.51
Enterprise Value/Gross Profit0.67
Enterprise Value/Ebitda-0.84
Forecast
1Y Price Target
$2.48Price Target Upside131.78% Upside
Rating ConsensusHold
Number of Analyst Covering9
EPS Forecast (FY)0.17
Revenue Forecast (FY)$223.61M
Definitive Healthcare Corp Business Overview & Revenue Model
Company Description
Definitive Healthcare Corp., together with its subsidiaries, provides healthcare commercial intelligence in the United States. Its solutions provide information on healthcare providers and their activities to help its customers in the area ranging...
How the Company Makes Money
Definitive Healthcare primarily makes money by selling subscriptions to its healthcare data and analytics platforms (software-as-a-service), which provide customers ongoing access to curated datasets, search and targeting tools, and analytical cap...
Definitive Healthcare Corp Earnings Call Summary
Earnings Call Date:Feb 26, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 30, 2026
Earnings Call Sentiment Neutral
The call presented a mixed but stabilizing picture: strong profitability, cash generation and operational progress (claims data remediation, faster integrations, digital activation traction and AI roadmap) are meaningful positives, while top-line weakness, reduced multi-year contract durations, and soft net dollar retention/upsell pressure continue to weigh on near-term growth. Management guided conservatively for 2026 with continued investment in product and integrations and expects NDR and revenue to improve later in the year as those investments and data fixes take hold.Positive Updates
Q4 Profitability Above Guidance
Adjusted EBITDA of approximately $18.1M in Q4 2025 representing a 29% margin, about $1.1M above the high end of guidance and expanding ~120 basis points year-over-year.
Negative Updates
Top-Line Pressure and Revenue Declines
Q4 2025 revenue of $61.5M declined 1% year-over-year; full year 2025 revenue was $241.5M, down 4% YoY. Guidance for 2026 projects revenue of $220M–$226M, a further 6%–9% decline year-over-year.
Read all updates
Q4-2025 Updates
Positive
Negative
Q4 Profitability Above Guidance
Adjusted EBITDA of approximately $18.1M in Q4 2025 representing a 29% margin, about $1.1M above the high end of guidance and expanding ~120 basis points year-over-year.
Read all positive updates
Company Guidance
The company guided Q1 2026 revenue of $54.0M–$56.0M (down 5%–9% YoY), adjusted operating income of $9.5M–$10.5M, adjusted EBITDA of $12M–$13M (22%–23% margin) and adjusted net income of $4M–$5M (~$0.03 per diluted share on ~143.2M W.A. shares). For full-year 2026 they forecast revenue of $220M–$226M (down 6%–9% YoY), adjusted operating income of $41.5M–$46.5M, adjusted EBITDA of $53M–$58M (24%–26% margin), adjusted net income of $21M–$26M and EPS of $0.14–$0.17 on ~145.4M shares; revenue dollars are expected to be roughly flat sequentially with a modest H2 uptick. Expense mix guidance calls for sales & marketing of 32%–33% of revenue, development 12%–13% and G&A 12%–13%, with targeted growth investments offset by cost efficiencies; management also expects adjusted EBITDA-to-unlevered-free-cash-flow conversion to improve by several points in 2026 given lower planned CapEx.Definitive Healthcare Corp Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
64
Positive
Cash Flow
58
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 241.52M | 252.20M | 251.41M | 222.65M | 166.15M |
| Gross Profit | 183.28M | 197.47M | 203.93M | 180.03M | 125.47M |
| EBITDA | -162.15M | -567.24M | -241.23M | 26.23M | 23.08M |
| Net Income | -138.93M | -413.12M | -202.39M | -7.22M | -51.91M |
Balance Sheet | |||||
| Total Assets | 735.49M | 1.09B | 1.83B | 2.12B | 2.12B |
| Cash, Cash Equivalents and Short-Term Investments | 180.89M | 290.16M | 308.07M | 331.87M | 387.50M |
| Total Debt | 177.82M | 253.11M | 267.93M | 275.85M | 270.68M |
| Total Liabilities | 356.50M | 482.19M | 626.73M | 640.68M | 617.78M |
| Stockholders Equity | 281.11M | 444.38M | 861.36M | 948.92M | 871.31M |
Cash Flow | |||||
| Free Cash Flow | 37.06M | 45.85M | 38.21M | 27.25M | 18.48M |
| Operating Cash Flow | 53.78M | 58.20M | 41.19M | 35.58M | 25.21M |
| Investing Cash Flow | 153.88M | -26.41M | -31.78M | -248.90M | -46.73M |
| Financing Cash Flow | -150.79M | -56.75M | -25.58M | -26.70M | 384.37M |
Definitive Healthcare Corp Technical Analysis
Negative
1.07
Price Trends
1.47
Negative
2.01
Negative
2.85
Negative
Market Momentum
-0.09
Negative
39.24
Neutral
27.13
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DH, the sentiment is Negative. The current price of 1.07 is below the 20-day moving average (MA) of 1.12, below the 50-day MA of 1.47, and below the 200-day MA of 2.85, indicating a bearish trend. The MACD of -0.09 indicates Negative momentum. The RSI at 39.24 is Neutral, neither overbought nor oversold. The STOCH value of 27.13 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DH.
Definitive Healthcare Corp Risk Analysis
Definitive Healthcare Corp disclosed 71 risk factors in its most recent earnings report. Definitive Healthcare Corp reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Definitive Healthcare Corp Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | $603.27M | 37.76 | 5.18% | 0.52% | 3.68% | 5.62% | |
62 Neutral | $702.28M | 42.49 | 4.84% | ― | 1.30% | ― | |
56 Neutral | $550.51M | -39.74 | -6.52% | ― | 14.33% | 93.62% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
46 Neutral | $152.81M | -2.20 | -47.69% | ― | -5.30% | 46.01% | |
45 Neutral | $283.56M | -0.85 | -69.22% | ― | -16.65% | -71.92% |
* Healthcare Sector Average
DH
Definitive Healthcare Corp
1.07
-1.42
-57.03%
HSTM
HealthStream
20.55
-11.08
-35.03%
EVH
Evolent Health
2.54
-7.46
-74.60%
PHR
Phreesia
9.06
-16.14
-64.05%
GDRX
GoodRx Holdings
2.05
-2.64
-56.29%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.