Doximity on the Recent York Stock Exchange for its initial public offering on June 24, 2021.
Source: NYSE
Shares of Doximity popped 25% in prolonged trading on Thursday after the corporate reported third-quarter fiscal 2025 results that beat analysts’ expectations for revenue and offered rosy guidance.
Here’s how the corporate did:
- Earnings per share: 37 cents, may not compare with the 34 cents expected by LSEG
- Revenue: $168.6 million vs. $152.8 million expected by LSEG
Doximity is a digital platform for medical professionals that helps clinicians stay current on medical news, manage paperwork, find referrals and perform telehealth appointments with patients. The corporate primarily generates revenue through its telehealth tools, hiring solutions and marketing offerings for clients akin to pharmaceutical firms.
Doximity’s revenue increased 25% in its third quarter from $135.3 million in the course of the same period last yr, in accordance with a release.
For its fiscal fourth quarter, Doximity said it expects to report revenue between $132.5 million and $133.5 million, compared with analysts’ estimates of $123.8 million.
The corporate also raised guidance for its full fiscal yr, and said it expects to report revenue between $564.6 million and $565.6 million, up from the range the corporate shared last quarter, when it expected $535 million to $540 million. Analysts were expecting $540 million for the yr.
“We’re proud to deliver one other quarter of record engagement in Q3, with over 610,000 unique providers using our clinical workflow tools,” Doximity CEO Jeff Tangney said in a press release. “Our AI tools grew the fastest last quarter, up 60% over the prior quarter, while our newsfeed surpassed multiple million unique providers.”
The corporate reported net income of $75.2 million, or 37 cents per share, during its third quarter, up from $48.0 million, or 24 cents per share, a yr prior. Doximity’s adjusted EBITDA was $102.0 million, up 39% yr over yr.
Doximity has been a brilliant spot inside the battered digital health sector, which has faced a reckoning as firms have had to regulate to a more muted growth environment. The corporate’s stock price greater than doubled in 2024.
