Definitive Healthcare Reports Solid Q1 2026 Results with Revenue at High End of Guidance
Definitive Healthcare, a leading provider of healthcare commercial intelligence and analytics, announced its financial results for the first quarter ended March 31, 2026, highlighting revenue performance at the top end of company guidance, continued profitability improvements, and encouraging operational momentum across its business segments.
The company reported first-quarter revenue of $55.9 million, representing a 6% decline compared to $59.2 million recorded during the same period in 2025. Despite the year-over-year decline, management emphasized that results exceeded expectations and reflected improving customer retention trends and strong execution across strategic initiatives.
Definitive Healthcare posted a net loss of $192.4 million during the quarter, largely driven by non-cash goodwill impairment charges totaling $197.2 million. This compares with a net loss of $155.1 million in the prior-year quarter, which also included goodwill impairment charges of $176.5 million. Excluding these and other non-GAAP adjustments, the company generated adjusted net income of $8.5 million, improving from $7.0 million in the first quarter of 2025.
Adjusted EBITDA for the quarter reached $15.3 million, representing a margin of 27% of revenue, compared with $14.7 million and a 25% margin in the same quarter last year. The company also delivered strong cash generation, reporting $11.6 million in operating cash flow and $18.0 million in unlevered free cash flow during the quarter.
Kevin Coop, Chief Executive Officer of Definitive Healthcare, said the company entered 2026 with positive momentum and continued progress against its long-term strategic priorities.
“Definitive Healthcare started 2026 on a solid note, with financial results at or above the high end of our guidance ranges,” Coop said. “We continue to make progress against each of our strategic pillars and are realizing some positive early indications of success, including improvements in retention rates.”
He added that the company remains focused on making investments designed to support sustainable operational and financial growth while continuing to generate meaningful profitability and cash flow.
During the quarter, Definitive Healthcare continued expanding its presence across multiple healthcare end markets, securing new customers and deepening relationships with existing clients. Management highlighted several notable customer wins that underscored the value of the company’s healthcare-specific data intelligence capabilities.
One major life sciences company entered into a six-figure, multi-year agreement with Definitive Healthcare after becoming dissatisfied with a generic multi-industry data provider that lacked specialized healthcare insights. According to the company, the customer required more detailed information related to oncology and rheumatology providers, including physician affiliations, prescription pattern visibility, and key opinion leader identification.
Definitive Healthcare said its specialized healthcare datasets and analytics capabilities enabled the customer to reduce research time, improve identification of influential healthcare professionals, and enhance sales targeting strategies through more precise physician-level insights.
The company also reported an important expansion opportunity involving an existing Monocl customer. Following the customer’s acquisition by a larger biopharmaceutical organization, Definitive Healthcare successfully demonstrated how its platform could support integration efforts by streamlining collaboration, data sharing, and operational alignment across the combined enterprise.
Management noted that the successful upsell positions the company for broader adoption within the parent organization as integration efforts continue.
Definitive Healthcare continues to position itself as a strategic intelligence partner for organizations operating across the healthcare ecosystem, including pharmaceutical companies, medical device manufacturers, healthcare providers, and healthcare technology firms. Its platform combines commercial intelligence, provider data, market analytics, and workflow solutions designed to help organizations improve sales execution, market access, and business development efforts.
The company’s leadership believes demand for specialized healthcare intelligence remains strong despite broader macroeconomic challenges and ongoing spending scrutiny across the healthcare and technology sectors.
Looking ahead, Definitive Healthcare issued financial guidance for both the second quarter and full year 2026.
For the second quarter of 2026, the company expects revenue in the range of $55.0 million to $56.0 million. Adjusted operating income is projected between $10.5 million and $11.5 million, while adjusted EBITDA is expected to range from $13.5 million to $14.5 million, representing an adjusted EBITDA margin of 24% to 26%.
The company also anticipates adjusted net income between $5.0 million and $6.0 million for the quarter, with adjusted diluted earnings per share expected to range from $0.03 to $0.04 based on approximately 144.2 million weighted-average shares outstanding.
For the full fiscal year 2026, Definitive Healthcare expects revenue between $220.0 million and $226.0 million. Adjusted operating income is forecast to range from $43.5 million to $47.5 million.
Adjusted EBITDA for the year is expected to total between $55.0 million and $59.0 million, corresponding to an adjusted EBITDA margin of approximately 25% to 26%. The company projects adjusted net income of $23.0 million to $27.0 million and adjusted diluted earnings per share between $0.16 and $0.19, based on roughly 144.9 million weighted-average shares outstanding.
Management noted that the company does not provide a quantitative reconciliation for forward-looking non-GAAP measures to the most directly comparable GAAP measures due to the complexity and variability associated with certain items. These include equity-based compensation expense, taxes, deferred tax assets and liabilities, tax receivable agreement impacts, and restructuring or transaction-related expenses, all of which could significantly affect future GAAP results.
Definitive Healthcare’s results reflect a broader effort by the company to balance disciplined cost management with strategic investments in innovation, customer success, and platform enhancements. Executives have repeatedly emphasized the importance of improving retention rates and increasing product adoption among enterprise customers as key drivers of long-term growth.
The healthcare data and analytics market remains highly competitive, with increasing demand for actionable intelligence that helps organizations navigate provider networks, identify growth opportunities, and improve commercial effectiveness. Definitive Healthcare differentiates itself by focusing specifically on the healthcare sector, offering highly curated datasets and workflow tools tailored to industry-specific needs.
Industry trends such as value-based care, provider consolidation, increased pharmaceutical commercialization complexity, and growing healthcare digitalization continue to create demand for sophisticated healthcare market intelligence platforms.
Investors and analysts will likely continue monitoring the company’s retention trends, revenue stabilization efforts, and ability to expand enterprise relationships as indicators of future performance. While revenue declined year over year, the company’s profitability improvements and strong cash flow generation may provide confidence that operational initiatives are beginning to deliver measurable results.
Definitive Healthcare also announced that it will host a conference call on May 7, 2026, at 5:00 p.m. Eastern Time to discuss the company’s quarterly results and outlook in greater detail. A live webcast and replay of the event will be made available through the company’s investor relations website.
Founded to simplify the complexity of healthcare commercial intelligence, Definitive Healthcare provides data, analytics, and insights designed to help healthcare organizations make faster and more informed business decisions. The company serves a broad customer base across the healthcare ecosystem and continues investing in technologies and solutions aimed at improving healthcare market transparency and operational efficiency.
About Definitive Healthcare
Definitive Healthcare is a data and analytics company focused on the business side of healthcare. The healthcare market is complex — our data makes it clearer. We cut through the noise to deliver the insights that healthcare organizations and companies need to make smarter, faster, more strategic decisions. Because when our customers succeed, healthcare gets better for everyone
