DH on Nasdaq

Definitive Healthcare Corp.

American prepackaged software services company, incorporated in Delaware. Summary from the record

Price unavailable

Last updated Oct 19, 2026.

Overview

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  • TickerDH on Nasdaq1
  • IndustryServices-Prepackaged Software1
  • HeadquartersFramingham, Massachusetts1
  • Incorporated inDE2
  • Business address492 Old Connecticut Path, Suite 401, Framingham, Ma 017012
  • Filer categoryAccelerated filer, Smaller reporting company2

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

75.9%Gross margin3
-92.9%Operating margin3
-57.5%Net margin3
-4.2%Revenue growth, 20253
-36.7%Return on equity3
0.41×Debt to equity3
$37.1MFree cash flow3

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Subscription Services brought in 96% of the revenue Definitive Healthcare Corp. broke down this way in fiscal 2025.

  1. Subscription Services$232.2M396%down 5% from 2024
  2. Professional Services$9.3M34%up 27% from 2024
Products and services by year
Products and services202320242025
Subscription Services$243.1M$244.9M$232.2M
Professional Services$8.4M$7.3M$9.3M

Regions

United States brought in 93% of the revenue Definitive Healthcare Corp. broke down this way in fiscal 2025.

  1. United States$224.4M393%down 7% from 2024
  2. Outside the United States$17.2M37%up 65% from 2024
Regions by year
Regions202320242025
United States$239.5M$241.8M$224.4M
Outside the United States$12.0M$10.4M$17.2M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue24¢$58.2M
  • Research and development14¢$34.8M
  • Other costs53¢$127.3M
  • Interest5¢$11.3M
  • Income tax4¢$10.0M

Out of $241.5M in revenue.3 The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

  • Capital spending25¢$16.7M
  • Share buybacks75¢$49.5M

Out of $53.8M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.3

Financial statements

Revenue4563$241.5M in 2025+104% since 2020
0$100.0M$200.0M$300.0M2020: $118.3M$118.3M20202021: $166.2M$166.2M2021+40%2022: $222.7M$222.7M2022+34%2023: $251.4M$251.4M2023+13%2024: $252.2M$252.2M2024+0%2025: $241.5M$241.5M2025−4%
Gross profit4563$183.3M in 2025+109% since 2020
0$100.0M$200.0M$300.0M2020: $87.8M$87.8M20202021: $125.5M$125.5M2021+43%2022: $180.0M$180.0M2022+43%2023: $203.9M$203.9M2023+13%2024: $197.5M$197.5M2024−3%2025: $183.3M$183.3M2025−7%
Operating income4563-$224.3M in 2025+1312% since 2020
-$800.0M-$600.0M-$400.0M-$200.0M02020: -$15.9M-$15.9M20202021: -$27.3M-$27.3M2021+72%2022: -$44.0M-$44.0M2022+61%2023: -$329.8M-$329.8M2023+649%2024: -$710.8M-$710.8M2024+116%2025: -$224.3M-$224.3M2025−68%
Net income4563-$138.9M in 2025
-$600.0M-$400.0M-$200.0M02020: $0$020202021: -$17.8M-$17.8M20212022: -$7.2M-$7.2M2022−60%2023: -$202.4M-$202.4M2023+2702%2024: -$413.1M-$413.1M2024+104%2025: -$138.9M-$138.9M2025−66%

Every line of the income statement as filed: the last 3 fiscal years, latest first.3

Period ending2025-12-312024-12-312023-12-31
Revenue$241.5M$252.2M$251.4M
Cost of revenue exclusive of amortization$38.0M$40.7M$34.7M
Amortization$20.3M$14.0M$12.7M
Gross profit$183.3M$197.5M$203.9M
Sales and marketing$81.6M$83.8M$94.5M
Product development$34.8M$36.5M$42.4M
General and administrative$51.6M$49.3M$58.9M
Depreciation and amortization$35.8M$37.6M$39.0M
Transaction, integration, and restructuring expenses$7.6M$12.2M$11.5M
Goodwill impairment$196.1M$688.9M$287.4M
Total operating expenses$407.5M$908.3M$533.7M
Loss from operations-$224.3M-$710.8M-$329.8M
Interest income$7.0M$14.6M$13.6M
Interest expense-$11.3M-$14.8M-$15.2M
Gain on remeasurement of TRA liability$21.7M$76.9M$23.5M
Loss on partial extinguishment of debt-$507.0K$0$0
Other (expense) income, net-$1.8M$411.0K-$291.0K
Total other income, net$15.0M$77.1M$21.6M
Loss before income taxes-$209.3M-$633.7M-$308.2M
Benefit from income taxes$10.0M$42.3M$18.6M
Net loss-$199.3M-$591.4M-$289.6M
Less: Net loss attributable to noncontrolling interests-$60.4M-$178.3M-$87.2M
Net loss attributable to Definitive Healthcare Corp.-$138.9M-$413.1M-$202.4M
Basic-$1.30-$3.54-$1.79
Diluted-$1.30-$3.54-$1.79
Basic106.7M shares116.6M shares112.8M shares
Diluted106.7M shares116.6M shares112.8M shares

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Leadership

Who has led Definitive Healthcare Corp., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Jason Ronald Krantz2021–2024
  2. Robert W. Musslewhite2022–2024
  3. Kevin Coop2024–2026
  4. Clay Brian Ritchey2026–now

President

  1. Robert W. Musslewhite2021–2022
  2. Jonathan Maack2022–2024

Chief financial officer

  1. Richard Douglas Booth2021–2025
  2. Casey Heller2025–now

Chief operating officer

  1. Kate Marie Shamsuddin2024–now
2025
Board members and other officers (26)

Timeline

  1. Sep 16, 2026New chief executive Clay Brian Ritchey becomes CEO10
  2. Jun 24, 2024New chief executive Kevin Coop becomes CEO11
  3. Oct 12, 2022New chief executive Robert W. Musslewhite becomes CEO12
  4. Sep 15, 2021New chief executive Jason Ronald Krantz becomes CEO13

Filings

333 filings to the SEC since October 2021: 6 annual reports, 16 quarterly reports, 49 major events, 201 insider forms, 22 large holders, 39 other. The latest 20:

  1. Oct 5, 20264 EDGAR
  2. Oct 5, 20264 EDGAR
  3. Oct 1, 2026SCHEDULE 13D/A EDGAR
  4. Sep 16, 20263 EDGAR
  5. Sep 9, 20268-K EDGAR
  6. Sep 3, 20264 EDGAR
  7. Sep 2, 20268-K EDGAR
  8. Sep 2, 2026SCHEDULE 13D EDGAR
  9. Sep 2, 20268-K EDGAR
  10. Sep 2, 2026SCHEDULE 13D EDGAR
  11. Aug 10, 202610-Q EDGAR
  12. Aug 10, 20268-K EDGAR
  13. Aug 4, 20264 EDGAR
  14. Aug 4, 20264 EDGAR
  15. Jul 6, 20264 EDGAR
  16. Jul 6, 20264 EDGAR
  17. Jun 24, 20268-K EDGAR
  18. Jun 9, 20264 EDGAR
  19. Jun 8, 20264 EDGAR
  20. Jun 8, 20264 EDGAR

The 333 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

11 open-market trades by officers, directors and large owners since October 2021: 2 buys and 9 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Dec 3, 2024Moschella WilliamChief Product & Tech OfficerSale45,000$4.70$211.5KForm 4
Aug 24, 2023Spectrum VII Co-Investment Fund, L.P.DirectorSale6,656$9.39$62.5KForm 4
May 12, 2023Spectrum VII Co-Investment Fund, L.P.DirectorSale6,240$9.11$56.8KForm 4
Feb 27, 2023SE VII DHC AIV Feeder, L.P.DirectorSale3,000,000$11.12$33.4MForm 4
Nov 7, 2022Krantz Jason RonaldDirectorBuy450,000$11.54$5.2MForm 4
Aug 9, 2022SE VII DHC AIV, L.P.DirectorSale1,016,000$22.75$23.1MForm 4
Aug 8, 2022Winn David RandallDirectorSale2,200,000$24.03$52.9MForm 4
Aug 8, 2022SE VII DHC AIV, L.P.DirectorSale1,100,000$24.50$26.9MForm 4
May 11, 2022Haywood Jeffrey CharlesDirectorSale18,315$15.46$283.1KForm 4
May 11, 2022Spectrum VII Co-Investment Fund, L.P.DirectorSale6,240$15.89$99.2KForm 4
Mar 3, 2022Booth Richard DouglasCHIEF FINANCIAL OFFICERBuy2,374$21.06$50.0KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Advent International, L.P.62,493,676$51.9M0.3%No change
Goldman Sachs Group Inc5,959,143$5.0M0.0%−84,757
D. E. Shaw & Co., Inc.1,973,193$1.6M0.0%−126,358
Vanguard Capital Management LLC1,829,463$1.5M0.0%−36,866
Kennedy Capital Management LLC1,737,044$1.4M0.0%New
Dimensional Fund Advisors LP1,453,209$1.2M0.0%−213,160
BlackRock, Inc.1,408,621$1.2M0.0%−1,576,946
Aqr Capital Management LLC899,132$747.1K0.0%+197,109
Geode Capital Management, LLC550,753$457.9K0.0%−628,941
Renaissance Technologies LLC525,040$436.3K0.0%+13,900
Two Sigma Investments, LP509,328$423.2K0.0%+275,747
Jacobs Levy Equity Management, Inc472,710$392.8K0.0%+173,237
Corient Private Wealth LP454,486$377.6K0.0%New
Arrowstreet Capital, Limited Partnership404,124$335.8K0.0%−24,818
Squarepoint Ops LLC351,575$292.1K0.0%+111,634
Barclays PLC323,670$268.9K0.0%−2,810
Millennium Management LLC275,896$229.2K0.0%−314,486
Pinnacle Associates Ltd260,037$216.1K0.0%+37
Pinnacle Wealth Management Advisory Group, LLC260,037$216.1K0.0%+37
Morgan Stanley254,149$211.2K0.0%−170,152
Vanguard Fiduciary Trust Co250,545$208.2K0.0%−10,061
State Street Corp241,671$200.8K0.0%−614,507
Charles Schwab Investment Management Inc201,901$167.8K0.0%−47,749
Sei Investments Co181,535$150.8K0.0%New
Citadel Advisors LLC166,291$138.2K0.0%−267,117

13F reports cover disclosed long positions in U.S. stocks only.

Sources

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