Revenue Growth - Revenue for the three months ended September 30, 2024 was $136.8 million, representing a year-over-year growth rate of 20%[129] - Revenue for the six months ended September 30, 2024 was $263.5 million, representing a year-over-year growth rate of 19%[129] - Revenue for the three months ended September 30, 2024 increased by $23.2 million (20%) compared to the same period in 2023, driven by a $23.0 million increase in subscription revenue[162] - Revenue for the six months ended September 30, 2024 increased by $41.4 million (19%) compared to the same period in 2023, primarily due to a $41.7 million increase in subscription revenue[162] Net Income and Margins - Net income for the three months ended September 30, 2024 was $44.2 million, compared to $30.6 million in the same period last year[129] - Net income margin for the three months ended September 30, 2024 was 32%, compared to 27% in the same period last year[139] - Net income for the three months ended September 30, 2024 increased by $13.6 million (44%) compared to the same period in 2023, with net income margin improving to 32% from 27%[161] - Net income for the six months ended September 30, 2024 increased by $26.5 million (45%) compared to the same period in 2023, with net income margin improving to 32% from 27%[161] Adjusted EBITDA - Adjusted EBITDA for the three months ended September 30, 2024 was $76.1 million, compared to $54.2 million in the same period last year[129] - Adjusted EBITDA margin for the three months ended September 30, 2024 was 56%, compared to 48% in the same period last year[139] Customer Metrics - Net revenue retention rate for the TTM ended September 30, 2024 was 116%, compared to 114% in the same period last year[134] - Number of customers with at least $500,000 of revenue for the TTM ended September 30, 2024 was 103, compared to 92 in the same period last year[133] - Customers with at least $500,000 of revenue accounted for approximately 83% of total revenue for the TTM ended September 30, 2024[132] Free Cash Flow - Free cash flow for the six months ended September 30, 2024 was $106.3 million, compared to $67.3 million in the same period last year[143] Gross Profit - Gross profit for the three months ended September 30, 2024 increased by $22.3 million (22%) compared to the same period in 2023, with gross margin improving to 90% from 89%[163] - Gross profit for the six months ended September 30, 2024 increased by $40.1 million (20%) compared to the same period in 2023, with gross margin improving to 90% from 88%[163] Research and Development Expenses - Research and development expense for the three months ended September 30, 2024 increased by $3.3 million (16%) compared to the same period in 2023, primarily due to a $2.9 million increase in stock-based compensation[166] - Research and development expense for the six months ended September 30, 2024 increased by $3.9 million (9%) compared to the same period in 2023, driven by a $4.3 million increase in stock-based compensation[167] Sales and Marketing Expenses - Sales and marketing expense for the three months ended September 30, 2024 increased by $4.2 million (14%) compared to the same period in 2023, primarily due to higher personnel-related expenses and advertising costs[153] - Sales and marketing expense for the three months ended September 30, 2024 increased by $4.2 million (14%) compared to the same period in 2023, driven by a $4.1 million increase in stock-based compensation and a $0.7 million increase in sales incentive compensation[168] - Sales and marketing expense for the six months ended September 30, 2024 increased by $5.0 million (8%) compared to the same period in 2023, driven by a $4.7 million net increase in stock-based compensation and a $1.7 million increase in sales incentive compensation[169] General and Administrative Expenses - General and administrative expense for the three months ended September 30, 2024 increased by $1.1 million (13%) compared to the same period in 2023, driven by higher compliance costs associated with being a publicly-traded company[154] - General and administrative expense for the three months ended September 30, 2024 increased by $1.1 million (13%) compared to the same period in 2023, primarily due to a $0.7 million increase in stock-based compensation and a $0.4 million increase in legal costs[170] - General and administrative expense for the six months ended September 30, 2024 increased by $1.1 million (6%) compared to the same period in 2023, primarily due to a $1.3 million increase in stock-based compensation and a $0.4 million increase in legal costs[171] Restructuring and Impairment - Restructuring and impairment charge for the three and six months ended September 30, 2024 was $2.3 million, a decrease of $5.6 million (71%) compared to the same periods in 2023, due to a sublease of office space in Irving, Texas[172] Other Income and Taxes - Other income, net for the three and six months ended September 30, 2024 increased by $3.1 million (53%) and $5.4 million (50%) respectively, driven by higher interest income from cash equivalents and marketable securities[174] - Provision for income taxes for the three and six months ended September 30, 2024 increased by $8.9 million (98%) and $14.6 million (96%) respectively, driven by higher income before taxes and decreased tax deductions from stock award activities[175] Cash and Marketable Securities - As of September 30, 2024, the company had $805.6 million in cash and cash equivalents and marketable securities, consisting of U.S. government and agency securities, corporate notes, and commercial paper[176] - As of September 30, 2024, the company had $184.2 million in cash and cash equivalents and $621.3 million in marketable securities, primarily in money market funds, corporate notes, and U.S. government securities[194] - A hypothetical 100 basis point increase in interest rates would decrease the market value of cash equivalents and marketable securities by $5.0 million and $3.4 million as of September 30, 2024 and March 31, 2024, respectively[196] Stock Repurchase Program - The company repurchased and retired 1,021,233 shares of Class A common stock under a $500 million repurchase program, with $470.0 million remaining authorized for repurchase as of September 30, 2024[178] Cash Flow Activities - Net cash provided by operating activities for the six months ended September 30, 2024 was $109.6 million, driven by net income of $85.5 million and non-cash items of $42.9 million, including $35.0 million in stock-based compensation[186] - Cash provided by investing activities was $67.2 million for the six months ended September 30, 2023, primarily from proceeds of $212.8 million from maturities of marketable securities and $37.5 million from sales of marketable securities, offset by $180.2 million in purchases and $2.7 million in software development costs[188] - Cash used in financing activities was $76.2 million for the six months ended September 30, 2024, mainly due to $74.2 million in common stock repurchases, $5.5 million in contingent consideration payments, and $8.2 million in taxes, partially offset by $10.2 million from stock option exercises and $1.4 million from employee stock purchase plan[188] - Cash used in financing activities was $186.9 million for the six months ended September 30, 2023, primarily from $186.2 million in common stock repurchases, $5.4 million in contingent consideration payments, and $4.1 million in taxes, partially offset by $7.2 million from stock option exercises and $1.5 million from employee stock purchase plan[189] Inflation Impact - The company does not believe inflation has had a material effect on its business, but significant inflationary pressures could harm its financial condition and results of operations if costs cannot be fully offset[197]

Exhibit 99.1 Doximity Announces Fiscal 2025 Second Quarter Financial Results Total revenues of $136.8 million, up 20% year-over-year Net income growth of 44% and adjusted EBITDA growth of 41% year-over-year SAN FRANCISCO, Calif., November 7, 2024 -- Doximity, Inc. (NYSE: DOCS), the leading digital platform for U.S. medical professionals, today announced results of its fiscal 2025 second quarter ended September 30, 2024. "Our clinical workflow tools saw record use in Q2 with over 600,000 unique active prescr ...

In the latest trading session, Doximity (DOCS) closed at $41.88, marking a +1.11% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.16%. Meanwhile, the Dow experienced a drop of 0.37%, and the technology-dominated Nasdaq saw an increase of 0.78%. Shares of the medical social networking site have depreciated by 4.93% over the course of the past month, underperforming the Medical sector's loss of 4.09% and the S&P 500's gain of 1.67%. Analysts and investors alike will be keeping a c ...

Doximity (DOCS) closed at $41.42 in the latest trading session, marking a -1.76% move from the prior day. This change lagged the S&P 500's daily loss of 0.92%. At the same time, the Dow lost 0.96%, and the tech-heavy Nasdaq lost 1.6%.The medical social networking site's shares have seen an increase of 1.91% over the last month, surpassing the Medical sector's loss of 4.16% and falling behind the S&P 500's gain of 2.68%.The upcoming earnings release of Doximity will be of great interest to investors. The com ...

The Medical Services sector is experiencing significant evolution driven by innovation and digital applications. Growing demand for remote treatment has led to a tremendous upsurge in digital healthcare options over the past few years. Demand for digital healthcare treatment continues to grow in the form of telemedicine-focused online medical and AI-powered technology services backed by the adoption of data and analytics. According to a recent Mordor Intelligence report, the global healthcare analytics mark ...

Company Performance - Doximity (DOCS) closed at $40.88, with a +0.62% change from the previous day's closing price, outperforming the S&P 500's daily loss of 0.19% [1] - The stock has increased by 12.05% over the last month, significantly surpassing the Medical sector's gain of 1.44% and the S&P 500's gain of 2.06% [1] Upcoming Earnings Report - The upcoming EPS for Doximity is projected at $0.26, indicating an 18.18% increase compared to the same quarter of the previous year [2] - Revenue is estimated to be $127.05 million, reflecting an 11.83% increase compared to the same quarter of the previous year [2] Full Year Projections - For the full year, earnings are projected at $1.05 per share and revenue at $520.23 million, representing changes of +10.53% and +9.43% respectively from the prior year [3] Analyst Estimates and Stock Performance - Recent changes to analyst estimates for Doximity are important as they reflect evolving short-term business trends, with positive revisions indicating analyst optimism about the company's profitability [3][4] - The Zacks Rank system, which considers estimate changes, provides a rating system that has historically delivered an average annual return of +25% for stocks rated 1 [5] Valuation Metrics - Doximity is currently trading at a Forward P/E ratio of 38.57, which is a premium compared to the industry average Forward P/E of 20.94 [6] - The company has a PEG ratio of 4.29, while the industry average PEG ratio is 1.86 [6] Industry Context - The Medical Services industry, part of the Medical sector, has a Zacks Industry Rank of 162, placing it in the bottom 36% of over 250 industries [7] - Research indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [7]

Investors interested in stocks from the Medical Services sector have probably already heard of Solventum (SOLV) and Doximity (DOCS) . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look. Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The proven Zacks Rank emphasizes companies with positive estim ...

It's a welcome sight for shareholders who haven't had much to rejoice about lately. What a difference a day can make. Until Aug. 8, shares of Doximity (DOCS 0.69%), a healthcare-focused networking platform, were in the red for the year. However, on Aug. 9, the company's stock skyrocketed by more than 33%, making its year-to-date performance better than that of the broader market. As investors might guess, Doximity's gains had something to do with its latest quarterly report, but even after this jump, shares ...

Morsa Images Pondering the issue of sustainable growth Earlier this month, Doximity, whose shares had been languishing in investor purgatory for most of 2024 reported its results for fiscal Q1 2025. The results were significantly better than had been anticipated with revenues of $127 million compared to the prior forecast of $120 million, and adjusted EBITDA of $66 million compared to a prior forecast of $56 million. Year over year revenue growth was 17% while the adjusted EBITDA rose by 42% and the adjuste ...

Doximity Today DOCS Doximity $36.21 +0.18 (+0.50%) 52-Week Range $19.71 ▼ $37.25 P/E Ratio 50.29 Price Target $31.27 Add to Watchlist Doximity Inc. NASDAQ: DOCS is a digital professional medical networking platform that is a cross between LinkedIn and Meta Platforms Inc. NASDAQ: META Facebook. The platform enables physicians to connect with their colleagues to collaborate on patient treatments and research. It also provides the latest medical news and research and provides access to various career tools. Do ...