Doximity, Inc. - DOCS STOCK NEWS

Doximity reported Q4 revenue of $93.7 million, a 40% increase year-over-year, with a net income margin of 39%.

For fiscal year 2022, total revenue reached $343.5 million, up 66% year-over-year, with a net income margin of 45%.

The company projects Q1 revenue between $88.6 million and $89.6 million and updates fiscal 2023 guidance to $454.0 million to $458.0 million.

Doximity also announced a $70 million stock repurchase program to buy back shares over the next year.

Doximity, Inc. (NYSE:DOCS) is set to report its financial results for the fourth quarter ended March 31, 2022, after market close on May 17, 2022. A conference call and webcast will take place at 2:00 p.m. PT (5:00 p.m. ET) to discuss these results. Doximity stands as the leading digital platform for U.S. medical professionals, with over 80% of U.S. physicians in its network. Its mission is to enhance physician productivity to enable better patient care.

Doximity's recent report indicates that over 73% of patients intend to continue using telemedicine post-pandemic. A survey of 2,000 patients found varied adoption rates among demographics, with 67% of patients adopting telemedicine in 2021. The report highlights significant adoption among physicians of all ages and specialties, particularly in endocrinology and oncology. The findings suggest that telemedicine enhances trust in patient-physician relationships.

Doximity (NYSE: DOCS) announced its participation in two virtual fireside chats at investor events. The first event is the SVB Leerink Virtual 11th Annual Global Healthcare Conference on February 16, 2022, where CFO Anna Bryson will present at 1:40 pm ET. The second event is the Morgan Stanley Technology, Media & Telecom Conference 2022 on March 10, 2022, featuring co-founder and CEO Jeff Tangney at 4:50 pm ET. Webcast links for both presentations will be available on Doximity's investor relations website.

Doximity (NYSE: DOCS) announced the acquisition of Amion, a top on-call physician scheduling platform, managing nearly 200,000 physician schedules across thousands of hospitals. This strategic move aims to enhance Doximity's physician cloud platform by integrating scheduling capabilities, which will drive engagement across its services. The acquisition is expected to be finalized on April 1, 2022, bridging a decade-long partnership between the two companies. Amion, recognized for its efficiency in scheduling, will leverage Doximity's growth potential to provide improved tools for physicians.

Doximity, Inc. (DOCS) reported a strong fiscal Q3 with revenue of $97.9 million, up 67% year-over-year. The company achieved a net income of $55.6 million with a net income margin of 57%. Key performance metrics included a 171% net revenue retention rate and an adjusted EBITDA of $47.0 million, growing 119% year-over-year. Doximity announced plans to acquire Amion, enhancing its offerings. Future guidance includes Q4 revenue between $89 million and $90 million, and for FY 2023, anticipated revenue growth of 33% to around $450 million.

Doximity, Inc. (NYSE: DOCS) announced that its Doximity Dialer has been recognized as the 2022 'Best in KLAS' in the Telehealth - Video Conferencing Platforms segment. This acknowledgment highlights Dialer's high ratings in culture, loyalty, operations, product, relationship, and value, where it received 'A' grades across the board. Doximity’s HIPAA-compliant platform facilitates one-click virtual visits and is widely adopted by over 150 hospitals, enhancing patient care and connection rates.

Doximity, Inc. (NYSE:DOCS) will report its financial results for Q3 2022, ending December 31, 2021, after market close on February 8, 2022. A conference call will follow at 2:00 p.m. PT (5:00 p.m. ET) to discuss these results. Renowned for being the leading digital platform for U.S. medical professionals, Doximity boasts over 80% of U.S. physicians in its network, providing tools for collaboration, updates on medical news, and virtual patient visits. The call will be accessible via the Company’s Investor Relations page.

Doximity, Inc. (NYSE: DOCS) released its fifth annual Physician Compensation Report, surveying over 46,000 full-time U.S. physicians. The report reveals a persistent gender pay gap, with female physicians earning 28% less than male counterparts, a difference exceeding $122,700. Additionally, 73% of physicians reported feeling overworked, and nearly 50% considered changing employment due to COVID-related stress. Physician compensation grew by 3.8% from 2020 to 2021, reflecting a tight labor market. The study highlights rising burnout rates and potential early retirement trends among physicians.