Dun & Bradstreet Holdings, Inc. (NYSE: DNB), reported GAAP Revenue and Adjusted Revenue for the fourth quarter of 2021 of $598.3 million, an increase of 24.7% and 25.5% on a constant currency basis compared to the fourth quarter of 2020.

Excluding the net impact of acquisitions, organic revenue, before the effect of foreign exchange, was $504.4 million, an increase of 5.0% compared to fourth quarter of 2020, which included a 0.2 percentage point impact from the net impact of lower deferred revenue purchase accounting adjustments of $0.6 million.

GAAP Net loss for the fourth quarter of 2021 was $11.6 million, or diluted loss per share of $0.03, compared to net income of $1.8 million or diluted earnings per share of less than $0.01 for the prior year quarter. Adjusted net income was $141.9 million, or adjusted diluted earnings per share of $0.33, compared to adjusted net income of $114.7 million, or adjusted diluted earnings per share of $0.27 for the prior year quarter.

GAAP Revenue for the year ended December 31, 2021 was $2,165.6 million, an increase of 24.5% and 24.3% on a constant currency basis compared to the year ended December 31, 2020, which included the net impact of acquisitions completed in 2021 and the net impact of lower deferred revenue purchase accounting adjustments of $20.9 million.

Adjusted Revenue for the year ended December 31, 2021 was $2,170.2 million, an increase of 24.8% and 24.6% on a constant currency basis compared to the year ended December 31, 2020. Excluding the net impact of acquisitions, organic revenue, before the effect of foreign exchange, was $1,822.6 million, an increase of 4.5% compared to the year ended December 31, 2020, which included a 1.3 percentage point impact from the net impact of lower deferred revenue purchase accounting adjustments of $20.9 million.

GAAP Net loss for the year ended December 31, 2021 was $71.7 million, or diluted loss per share of $0.17, compared to a net loss of $180.6 million, or diluted loss per share of $0.49 for the prior year period. Adjusted net income was $471.1 million, or adjusted diluted earnings per share of $1.10, compared to adjusted net income of $346.6 million, or adjusted diluted earnings per share of $0.94 for the prior year period.

Segment Results

North America

For the fourth quarter of 2021, North America revenue was $428.7 million, an increase of $27.6 million or 6.9% and 6.8% on a constant currency basis compared to the fourth quarter of 2020. Excluding the positive impact of foreign exchange of $0.3 million and the net impact of acquisitions which contributed revenue of $10.6 million, North America organic revenue increased 4.1%.

  • Finance and Risk revenue for the fourth quarter of 2021 was $230.5 million, an increase of $12.5 million or 5.7% and 5.6% on a constant currency basis compared to the fourth quarter of 2020.
  • Sales and Marketing revenue for the fourth quarter of 2021 was $198.2 million, an increase of $15.1 million or 8.3% and 8.2% on a constant currency basis compared to the fourth quarter of 2020.

North America adjusted EBITDA for the fourth quarter of 2021 was $211.3 million, an increase of 6.9%, with adjusted EBITDA margin of 49.3%.

For the year ended December 31, 2021, North America revenue was $1,499.4 million, an increase of $39.4 million or 2.7% and 2.6% on a constant currency basis compared to the year ended December 31, 2020. Excluding the positive impact of foreign exchange of $2.1 million and the net impact of acquisitions which contributed revenue of $6.7 million, North America organic revenue increased 2.1%.

  • Finance and Risk revenue for the year ended December 31, 2021 was $834.7 million, an increase of $23.5 million or 2.9% and 2.7% on a constant currency basis compared to the year ended December 31, 2020.
  • Sales and Marketing revenue for the year ended December 31, 2021 was $664.7 million, an increase of $15.9 million or 2.4% compared to the year ended December 31, 2020.

North America adjusted EBITDA for the year ended December 31, 2021 was $715.3 million, an increase of 2.8%, with adjusted EBITDA margin of 47.7%.

International

International revenue for the fourth quarter of 2021 was $169.6 million, an increase of $90.2 million or 113.5% and 118.6% on a constant currency basis compared to the fourth quarter of 2020. Excluding the negative impact of foreign exchange of $4.3 million and the net impact of the Bisnode acquisition which contributed revenue of $88.0 million, organic revenue before the effect of foreign exchange increased 8.2%.

  • Finance and Risk revenue for the fourth quarter of 2021 was $110.2 million, an increase of $46.5 million or 73.0% and 76.2% on a constant currency basis compared to the fourth quarter of 2020. Organic revenue before the effect of foreign exchange increased 9.7%.
  • Sales and Marketing revenue for the fourth quarter of 2021 was $59.4 million, an increase of $43.7 million or 276.9% and 289.0% on a constant currency basis compared to the fourth quarter of 2020. Organic revenue before the effect of foreign exchange increased 2.2%.

International adjusted EBITDA was $46.0 million for the fourth quarter ended December 31, 2021, an increase of 142.6%, with adjusted EBITDA margin of 27.1%.

International revenue for the year ended December 31, 2021 was $671.0 million, an increase of $371.2 million or 123.8% and 121.9% on a constant currency basis compared to the year ended December 31, 2020. Excluding the positive impact of foreign exchange of $1.0 million and the net impact of the Bisnode acquisition which contributed revenue of $344.0 million, organic revenue before the effect of foreign exchange increased 8.6%.

  • Finance and Risk revenue for the year ended December 31, 2021 was $430.3 million, an increase of $186.3 million or 76.4% and 74.2% on a constant currency basis compared to the year ended December 31, 2020. Organic revenue before the effect of foreign exchange increased 7.1%.
  • Sales and Marketing revenue for the year ended December 31, 2021 was $240.7 million, an increase of $184.9 million or 330.9% and 329.7% on a constant currency basis compared to the year ended December 31, 2020. Organic revenue before the effect of foreign exchange increased 15.4%.

International adjusted EBITDA was $194.1 million for the year ended December 31, 2021, an increase of 113.4%, with adjusted EBITDA margin of 28.9%.

Business Outlook

  • Adjusted Revenues are expected to be in the range of $2,270 million to $2,315 million.
  • Adjusted EBITDA is expected to be in the range of $865 million to $905 million.
  • Adjusted EPS is expected to be in the range of $1.13 to $1.20.

The foregoing forward-looking statements reflect Dun & Bradstreet’s expectations as of Feb 16 and Revenue assumes constant foreign currency rates. Dun & Bradstreet does not present a qualitative reconciliation of its forward-looking non-GAAP financial measures to the most directly comparable GAAP measure due to the inherent difficulty, without unreasonable efforts, in forecasting and quantifying with reasonable accuracy significant items required for this reconciliation. Given the number of risk factors, uncertainties and assumptions, actual results may differ materially. Dun & Bradstreet does not intend to update its forward-looking statements until its next quarterly results announcement, other than in publicly available statements.

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Source:  D&B Earnings Release