Filing Flows › Definitive Healthcare (DH) › Q2 2025
Definitive Healthcare (DH) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
Definitive Healthcare (DH) reported revenue of $60.8M for the second quarter 2025 (Q2 2025), -5% from a year earlier and +3% from the quarter before. Operating margin was -6.9%, net loss $9.3M (15.3% of revenue).
Definitive Healthcare, Q2 2025: revenue $60.8M (-5% year over year), operating margin -6.9%, net loss $9.3M, operating cash flow $9.3M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $60.8M | +3% | -5% |
| Operating profit | −$4.2M | — | — |
| Net earnings | −$9.3M | — | — |
| Operating cash flow | $9.3M | -64% | -34% |
| Free cash flow | $7.0M | -62% | -49% |
What changed
Revenue was $60.8M in Q2 2025, down 5% year over year and up 3% from the previous quarter. Subscription Services was the largest line at 96% of revenue. Subscription Services lost $3.8M year over year (down 6%), 127% of the total change.
Gross margin was 76.7%, down 2.4 points from a year earlier. Operating costs exceeded revenue by $4.2M, an operating margin of -6.9%. Operating expenses fell 88% while revenue fell 5%. The quarter ended with a net loss of $9.3M, narrower than the previous quarter's $155.1M loss. Minority interests bore $1.7M of it: to shareholders the quarter was a loss of $7.6M. Net interest and other expense of $4.6M was the main reason.
Operating cash flow was $9.3M (down 34% year over year). Non-cash charges added back $868K of depreciation and amortization and $7.0M of share-based compensation. Working capital and other items added $10.7M. Capital expenditures of $2.3M left free cash flow of $7.0M.
Questions
What was Definitive Healthcare's revenue in the second quarter 2025?
Definitive Healthcare (DH) reported revenue of $60.8M for the second quarter 2025 (Q2 2025), -5% from a year earlier and +3% from the quarter before.
Was Definitive Healthcare profitable in the second quarter 2025?
Operating loss was $4.2M (-6.9% of revenue) and net loss $9.3M.