By Josh Beckerman
Shares of Definitive Healthcare, which provides data and analytics about the healthcare sector, fell to a 52-week low after the company reported fourth-quarter results and projected lower 2025 revenue.
The stock was recently down 39% to $3 Friday and is down about 27% this year. Its intraday low was $2.58.
Quarterly revenue was down 6% to $62.3 million. Adjusted net income rose to $12.6 million from $10.6 million. Definitive Healthcare expects revenue of $230 million to $240 million this year, down from $252.2 million in 2024.
Stifel Financial said the company's client churn "accelerated in the quarter and will remain elevated into 1Q," but said it is encouraged by various actions to reduce churn and improve the platform. It said the stock is "range-bound, pending improving data points."
The company also said Casey Heller, senior vice president of finance, will become chief financial officer effective June 2, succeeding Rick Booth, who has been CFO since March 2021.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
February 28, 2025 13:43 ET (18:43 GMT)
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