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Definitive Healthcare cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$9.0M in Q3 2026 · $24.2M over twelve months

Operating cash flow$11.4M
Capital spending−$2.4M
Free cash flow+$9.0M
Cash conversion cycle13 days

Analysis

In Q3 2026, Definitive Healthcare generated $11.4M of operating cash flow and spent $2.4M on capital projects, leaving free cash flow of $9.0M. That is $4.4M less than in Q3 2025 ($13.4M).

Over the twelve months to Sep 30, 2026, operating cash flow was $37.2M; the largest uses were capital spending ($13.0M), net borrowing (+) / repaid (−) ($8.8M), other financing ($8.4M); besides operations, cash came from other investing ($65.6M); the cash balance rose by $68.8M.

Operating cash flow was $11.4M against net income of −$5.4M. The largest differences: deferred revenue −$8.6M, stock-based pay +$5.5M, payables +$3.5M.

Its cash conversion cycle was 13 days (receivables 51 + inventory 0 − payables 38).

Free cash flow

Definitive Healthcare: free cash flow by quarterDefinitive Healthcare: free cash flow by quarter−$2.8MQ4 2024$18.4MQ1 2025$7.0MQ2 2025$13.4MQ3 2025−$1.7MQ4 2025$8.4MQ1 2026$8.5MQ2 2026$9.0MQ3 2026
Operating cash flow less capital spending.
Definitive Healthcare: operating cash flow against capital spendingDefinitive Healthcare: operating cash flow against capital spendingOperating cash flowCapital spending$8.1M$10.9MQ4 2024$26.1M$7.7MQ1 2025$9.3M$2.3MQ2 2025$15.7M$2.3MQ3 2025$2.7M$4.4MQ4 2025$11.6M$3.2MQ1 2026$11.5M$2.9MQ2 2026$11.4M$2.4MQ3 2026
Latest (Q3 2026): Operating cash flow $11.4M, Capital spending $2.4M.

Capital allocation, year by year

Definitive Healthcare: where the cash came from (up) and went (down), by fiscal yearDefinitive Healthcare: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $25.2MFY2021: Net borrowing $275MFY2021: Shares issued $835MFY2021: Capital spending −$6.7MFY2021: Acquisitions −$40.0MFY2021: Buybacks −$232M$1.1BFY2021FY2022: Operating cash flow $35.6MFY2022: Net borrowing −$6.9MFY2022: Capital spending −$8.3MFY2022: Acquisitions −$56.3M$35.6MFY2022FY2023: Operating cash flow $41.2MFY2023: Net borrowing −$8.6MFY2023: Capital spending −$3.0MFY2023: Acquisitions −$45.0M$41.2MFY2023FY2024: Operating cash flow $58.2MFY2024: Net borrowing −$13.8MFY2024: Capital spending −$12.3MFY2024: Acquisitions −$13.5MFY2024: Buybacks −$22.4M$58.2MFY2024FY2025: Operating cash flow $53.8MFY2025: Net borrowing −$77.8MFY2025: Capital spending −$16.7MFY2025: Buybacks −$49.5M$53.8MFY2025
Over these 5 years operating cash flow totalled $214M; the largest uses were buybacks ($304M) and acquisitions ($155M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$190M
Debt$166M
Net cash$23.7M
Due within a year$8.8M

Definitive Healthcare funds itself: free cash flow was $24.2M over the last twelve months, and $190M of cash and investments stands against $166M of debt ($8.8M due within a year, 21.7× covered by cash).

Definitive Healthcare: debt maturities by year (FY2025)Definitive Healthcare: debt maturities by year (FY2025)$8.8MYear 1$8.8MYear 2$8.8MYear 3$8.8MYear 4$131MYear 5
Principal due in each year as disclosed in the annual report, against $190M of cash and investments now.

Where the cash came from and went

Definitive Healthcare: sources (+) and uses (−) of cash, Q3 2026Definitive Healthcare: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$11.4MCash drawn (+) / kept (−)−$6.3MCapital spending−$2.4MNet borrowing (+) / repaid (−)−$2.2MExchange rates−$325KTaxes on employees’ shares−$251K
Definitive Healthcare: sources (+) and uses (−) of cash, TTM to Q3 2026Definitive Healthcare: sources (+) and uses (−) of cash, TTM to Q3 2026Cash drawn (+) / kept (−)−$68.8MOther investing$65.6MOperating cash flow$37.2MCapital spending−$13.0MNet borrowing (+) / repaid (−)−$8.8MOther financing−$8.4MTaxes on employees’ shares−$3.1MExchange rates−$740K

From profit to cash

Definitive Healthcare: net income to operating cash flow, Q3 2026Definitive Healthcare: net income to operating cash flow, Q3 2026Net income−$5.4MDepreciation & amortization$1.2MStock-based pay$5.5MReceivables$1.4MPayables$3.5MDeferred revenue−$8.6MPrepaid and other assets$1.4MOperating cash flow$11.4M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202651—3813
Q2 202658—3325
Q1 202673—3043
Q4 202565—3826
Q3 202555—541
Q2 202560—528
Q1 202573—5518
Q4 202466—651

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$11.4M−$2.4M—−$2.2M−$6.3M$9.0M
Q2 2026$11.5M−$2.9M—−$2.2M−$13.2M$8.5M
Q1 2026$11.6M−$3.2M—−$2.2M$6.0M$8.4M
Q4 2025$2.7M−$4.4M—−$2.2M−$55.3M−$1.7M
Q3 2025$15.7M−$2.3M−$9.2M−$2.2M−$27.3M$13.4M
Q2 2025$9.3M−$2.3M−$19.1M−$2.2M$25.1M$7.0M
Q1 2025$26.1M−$7.7M−$21.2M−$71.2M−$721K$18.4M
Q4 2024$8.1M−$10.9M−$7.3M−$3.4M$32.2M−$2.8M

Definitive Healthcare: income statement and cash flow

Definitive Healthcare, Q3 2026: revenue $54.6M (-9% year over year), operating margin -9.1%. The chart follows the revenue to costs, profit and cash.

Definitive Healthcare: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.