On May 16, 2024, Doximity, Inc., a leading digital platform for U.S. medical professionals, reported its financial results for the fourth quarter and fiscal year ended March 31, 2024. The company announced a 13% year-over-year increase in total revenues for the fiscal year, reaching $475.4 million, with net income growing by 31% and adjusted EBITDA by 25%. For the fourth quarter, revenues were up 6% year-over-year at $118.1 million, with net income and adjusted EBITDA increasing by 32% and 15%, respectively. Doximity's CEO, Jeff Tangney, expressed satisfaction with the company's performance, highlighting strong profits and record engagement, with over 580,000 unique providers using their workflow tools in the last quarter. The company also provided financial guidance for the first quarter and the full fiscal year ending...Show More

On May 16, 2024, Doximity, Inc., a leading digital platform for U.S. medical professionals, reported its financial results for the fourth quarter and fiscal year ended March 31, 2024. The company announced a 13% year-over-year increase in total revenues for the fiscal year, reaching $475.4 million, with net income growing by 31% and adjusted EBITDA by 25%. For the fourth quarter, revenues were up 6% year-over-year at $118.1 million, with net income and adjusted EBITDA increasing by 32% and 15%, respectively. Doximity's CEO, Jeff Tangney, expressed satisfaction with the company's performance, highlighting strong profits and record engagement, with over 580,000 unique providers using their workflow tools in the last quarter. The company also provided financial guidance for the first quarter and the full fiscal year ending March 31, 2025, expecting revenues between $119.5 million and $120.5 million, and adjusted EBITDA between $55 million and $56 million for the first quarter. For the full year, revenue is projected to be between $506 million and $518 million, with adjusted EBITDA between $238 million and $250 million. Additionally, Doximity's board authorized a stock repurchase program of up to $500 million of its Class A common stock, with no set expiration date. The company will retire any repurchased shares, returning them to the status of authorized but unissued stock. The financial results and future guidance were discussed in a webcast hosted by Doximity on the same day.