Doximity Inc Stock Price, News & Analysis

Doximity reported Q1 fiscal 2023 revenues of $90.6 million, a 25% increase year-over-year, alongside an operating cash flow of $44.8 million, up 35%. The net income of $22.4 million marked a decrease from the previous year's $26.3 million, leading to a margin drop from 36% to 25%. The company maintains a positive outlook, projecting Q2 revenue between $99.5 million and $100.5 million and adjusting full-year revenue guidance to between $424.0 million and $432.0 million.

Doximity, Inc. (NYSE: DOCS) will report its first-quarter financial results for the period ending June 30, 2022, after market close on August 4, 2022. A conference call to discuss these results will take place at 2:00 p.m. PT (5:00 p.m. ET). Doximity, founded in 2010, is the leading digital platform for U.S. medical professionals, encompassing over 80% of physicians across various specialties. The platform offers tools for collaboration, medical news updates, career management, and virtual patient visits, aiming to enhance productivity in healthcare.

Doximity, Inc. (NYSE: DOCS), a leading digital platform for U.S. medical professionals, announced its participation in two key investor conferences. The first is William Blair's 42nd Annual Growth Stock Conference on June 7, 2022, where Dr. Nate Gross will present at 5:40 pm ET. The second is the Goldman Sachs 43rd Annual Global Healthcare Conference on June 16, 2022, featuring CFO Anna Bryson at 11:40 am ET. Live webcasts will be available on Doximity's investor relations website.

Doximity reported Q4 revenue of $93.7 million, a 40% increase year-over-year, with a net income margin of 39%.

For fiscal year 2022, total revenue reached $343.5 million, up 66% year-over-year, with a net income margin of 45%.

The company projects Q1 revenue between $88.6 million and $89.6 million and updates fiscal 2023 guidance to $454.0 million to $458.0 million.

Doximity also announced a $70 million stock repurchase program to buy back shares over the next year.

Doximity, Inc. (NYSE:DOCS) is set to report its financial results for the fourth quarter ended March 31, 2022, after market close on May 17, 2022. A conference call and webcast will take place at 2:00 p.m. PT (5:00 p.m. ET) to discuss these results. Doximity stands as the leading digital platform for U.S. medical professionals, with over 80% of U.S. physicians in its network. Its mission is to enhance physician productivity to enable better patient care.

Doximity's recent report indicates that over 73% of patients intend to continue using telemedicine post-pandemic. A survey of 2,000 patients found varied adoption rates among demographics, with 67% of patients adopting telemedicine in 2021. The report highlights significant adoption among physicians of all ages and specialties, particularly in endocrinology and oncology. The findings suggest that telemedicine enhances trust in patient-physician relationships.

Doximity (NYSE: DOCS) announced its participation in two virtual fireside chats at investor events. The first event is the SVB Leerink Virtual 11th Annual Global Healthcare Conference on February 16, 2022, where CFO Anna Bryson will present at 1:40 pm ET. The second event is the Morgan Stanley Technology, Media & Telecom Conference 2022 on March 10, 2022, featuring co-founder and CEO Jeff Tangney at 4:50 pm ET. Webcast links for both presentations will be available on Doximity's investor relations website.

Doximity (NYSE: DOCS) announced the acquisition of Amion, a top on-call physician scheduling platform, managing nearly 200,000 physician schedules across thousands of hospitals. This strategic move aims to enhance Doximity's physician cloud platform by integrating scheduling capabilities, which will drive engagement across its services. The acquisition is expected to be finalized on April 1, 2022, bridging a decade-long partnership between the two companies. Amion, recognized for its efficiency in scheduling, will leverage Doximity's growth potential to provide improved tools for physicians.

Doximity, Inc. (DOCS) reported a strong fiscal Q3 with revenue of $97.9 million, up 67% year-over-year. The company achieved a net income of $55.6 million with a net income margin of 57%. Key performance metrics included a 171% net revenue retention rate and an adjusted EBITDA of $47.0 million, growing 119% year-over-year. Doximity announced plans to acquire Amion, enhancing its offerings. Future guidance includes Q4 revenue between $89 million and $90 million, and for FY 2023, anticipated revenue growth of 33% to around $450 million.