Doximity on the New York Inventory Alternate for its preliminary public providing on June 24, 2021.
Supply: NYSE
Shares of Doximity popped 25% in prolonged buying and selling on Thursday after the corporate reported third-quarter fiscal 2025 outcomes that beat analysts’ expectations for income and provided rosy steerage.
Here is how the corporate did:
- Earnings per share: 37 cents, might not examine with the 34 cents anticipated by LSEG
- Income: $168.6 million vs. $152.8 million anticipated by LSEG
Doximity is a digital platform for medical professionals that helps clinicians keep present on medical information, handle paperwork, discover referrals and perform telehealth appointments with sufferers. The corporate primarily generates income by way of its telehealth instruments, hiring options and advertising and marketing choices for purchasers similar to pharmaceutical firms.
Doximity’s income elevated 25% in its third quarter from $135.3 million throughout the identical interval final yr, based on a launch.
For its fiscal fourth quarter, Doximity mentioned it expects to report income between $132.5 million and $133.5 million, in contrast with analysts’ estimates of $123.8 million.
The corporate additionally raised steerage for its full fiscal yr, and mentioned it expects to report income between $564.6 million and $565.6 million, up from the vary the corporate shared final quarter, when it anticipated $535 million to $540 million. Analysts have been anticipating $540 million for the yr.
“We’re proud to ship one other quarter of report engagement in Q3, with over 610,000 distinctive suppliers utilizing our medical workflow instruments,” Doximity CEO Jeff Tangney mentioned in an announcement. “Our AI instruments grew the quickest final quarter, up 60% over the prior quarter, whereas our newsfeed surpassed a couple of million distinctive suppliers.”
The corporate reported web earnings of $75.2 million, or 37 cents per share, throughout 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 well being sector, which has confronted a reckoning as firms have needed to modify to a extra muted development surroundings. The corporate’s inventory value greater than doubled in 2024.
