Definitive Healthcare Reports Preliminary Financial Results For Q2 FY23 Reaffirms Revenue Guidance; Restatement Of Previously Issued Financials; Sees Q2 EPS $0.08 Vs $0.05 Est.; Revenue $61M Vs $64.24M Est; FY23 Revenue $249M-$255M Vs $252.19M Est.
Portfolio Pulse from Happy Mohamed
Definitive Healthcare has reported preliminary financial results for Q2 FY23, with expected revenue of $61.0 million and an adjusted net income of $12.3 million to $12.4 million. The company reaffirms its full year 2023 revenue and Adjusted EBITDA guidance. However, the company's previously issued financial statements should no longer be relied upon due to a restatement of historical financial results. This is due to a review of its sales tax positions, which revealed that sales in certain states were subject to sales tax that the company had not assessed. The company expects to record an aggregate increase to previously reported general and administrative expense of between $6.8 million to $10.2 million over the periods impacted.

August 01, 2023 | 1:55 pm
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Definitive Healthcare's Q2 FY23 preliminary results are below estimates, but the company reaffirms its full year 2023 guidance. However, the restatement of historical financial results due to unassessed sales tax could negatively impact investor confidence.
The company's Q2 FY23 preliminary results are below estimates, which could negatively impact the stock price. The reaffirmation of the full year 2023 guidance might mitigate this impact to some extent. However, the restatement of historical financial results due to unassessed sales tax could negatively impact investor confidence, leading to a potential decrease in the stock price.
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