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Definitive Healthcare
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Latest analysis
Updated Nov 5, 2026
Definitive Healthcare Q3 2026 revenue fell 9% YoY to $54.7M as Advent International takeover bid suspends guidance and investor communications.
Definitive Healthcare's Q3 2026 revenue of $54.7 million declined from $60.0 million in Q3 2025, with Adjusted EBITDA of $15.7 million (29% margin) beating internal expectations despite top-line pressure. The most consequential development is not operational: Advent International submitted a non-binding acquisition proposal for all outstanding shares not already owned by Advent or founder Jason Krantz, prompting the Board's Special Committee to suspend financial guidance and cancel the earnings call entirely. The company's $197.2 million goodwill impairment recorded through the nine-month period — wiping the entire goodwill balance to zero — signals management's own assessment that the business's carrying value has structurally reset.
Tone: defensiveRevenue
$241.5M
DH 10-K · FY 2025
Employees
686
Revenue FY2024
$252.2M
EBITDA margin
29%
Profile
DH 10-K Item 1 · Feb 26, 2026Definitive Healthcare is a SaaS-based provider of healthcare commercial intelligence, delivering data, analytics, and expertise on the U.S. healthcare ecosystem to approximately 2,330 customers. The company serves three primary end markets — Life Sciences, Provider, and Diversified — with subscription-based access to its platform. Its data products help customers with product development, go-to-market planning, and sales and marketing execution.
Read filing description ↓ Collapse description ↑
Definitive Healthcare is a leading provider of healthcare data and analytics. We provide accurate, comprehensive information on healthcare providers and their activities, enabling customers to make informed decisions across product development, go-to-market planning, and sales and marketing execution. We also offer claims and consumer analytics built from modeled data on millions of unique consumers to help healthcare organizations target, message, and engage specific healthcare audiences. Delivered through our SaaS products and solutions, our data is important to the commercial success of our approximately 2,330 customers as of December 31, 2025 and can be applied in ways that ultimately benefit patient access and care. We generally define a customer as a company that maintains one or more active paid subscriptions. We serve three primary end markets: Life Sciences, Provider, and Diversified. Our Life Sciences customers comprise biopharmaceutical and medical device companies. Providers comprise hospitals, health systems, and other care delivery organizations. Diversified customers include healthcare information technology companies and other organizations operating within the healthcare market, such as staffing firms, commercial real estate firms, financial institutions, and marketing and advertising agencies. Within these organizations, our data serves a broad set of functional groups, including sales, marketing, clinical research, product development, strategy, talent acquisition, and physician network management. Customers access our data products on a subscription basis, and we generate substantially all our revenue from subscription fees.
Primary products
- SaaS-based healthcare data products and solutions
- healthcare commercial intelligence platform
- claims and consumer analytics
- intelligence modules
- workflow products
End markets
Geographies
Named competitors
“While we believe no competitor matches our breadth of data and intelligence solutions or offers as comprehensive and accurate a commercial intelligence platform, we compete either directly or indirectly with: Legacy raw claims data providers, such as Clarivate, IQVIA, and Symphony Health; Emerging point solution players, such as AcuityMD and MedScout; Niche healthcare specialists, such as Komodo Health, H1 Healthcare, Trella Health, and Trilliant Health; Ecosystem players that may house or analyze similar intelligence, such as SG2 and Veeva; and Horizontal go-to-market intelligence platforms, such as ZoomInfo, LinkedIn, and Dun & Bradstreet.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Revenue declined from $252.2 million in 2024 to $241.5 million in 2025, driven by elevated customer churn, macroeconomic pressure on Life Sciences customers, and continued disruption from go-to-market restructuring.
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