On February 8, 2024, Doximity, Inc., a leading digital platform for U.S. medical professionals, reported its financial results for the fiscal quarter ending December 31, 2023. The company announced a 17% year-over-year increase in revenue to $135.3 million, with net income growing by 43% to $48.0 million, resulting in a net income margin of 35%. Adjusted EBITDA also saw a significant increase of 32% compared to the previous year, reaching $73.3 million. Doximity's diluted net income per share rose from $0.16 to $0.24, and non-GAAP diluted net income per share increased from $0.22 to $0.29. The company's operating cash flow and free cash flow both experienced a 3% year-over-year increase. Looking ahead, Doximity provided guidance for its fiscal fourth quarter with revenue expected to be between $115.9 million and...Show More

On February 8, 2024, Doximity, Inc., a leading digital platform for U.S. medical professionals, reported its financial results for the fiscal quarter ending December 31, 2023. The company announced a 17% year-over-year increase in revenue to $135.3 million, with net income growing by 43% to $48.0 million, resulting in a net income margin of 35%. Adjusted EBITDA also saw a significant increase of 32% compared to the previous year, reaching $73.3 million. Doximity's diluted net income per share rose from $0.16 to $0.24, and non-GAAP diluted net income per share increased from $0.22 to $0.29. The company's operating cash flow and free cash flow both experienced a 3% year-over-year increase. Looking ahead, Doximity provided guidance for its fiscal fourth quarter with revenue expected to be between $115.9 million and $116.9 million, and adjusted EBITDA projected between $50.5 million and $51.5 million. The company also updated its full fiscal year guidance, anticipating revenues between $473.3 million and $474.3 million, and adjusted EBITDA between $224.5 million and $225.5 million. Doximity's CEO, Jeff Tangney, expressed pride in the company's double-digit engagement growth and the continued daily use of their clinical workflow tools by doctors. The company now serves 17 of the top 22 U.S. hospitals as enterprise software clients.