Doximity Inc. (DOCS) saw a significant surge in its after-market performance today, with its stock price climbing to $27.45. This marks a notable increase of 3.74 points, or 15.75%, from its previous close. The trading volume was substantial, with 889.84K shares traded. This sharp rise reflects growing investor confidence and heightened interest in Doximity’s market position and future prospects.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Recent Developments
On May 16, 2024, Doximity, Inc. (NYSE: DOCS), the leading digital platform for U.S. medical professionals, announced the results for its fiscal 2024 fourth quarter and fiscal year, ending March 31, 2024.
Fiscal 2024 Fourth Quarter Financial Highlights
Comparisons are made to the three months ending March 31, 2023.
- Revenue: Doximity reported revenue of $118.1 million, up from $111.0 million, marking a 6% year-over-year increase. Subscription revenue rose to $112.7 million from $103.2 million, a 9% increase.
- Net Income and Non-GAAP Net Income: The company achieved a net income of $40.6 million, up from $30.7 million, with a margin of 34.4% compared to 27.6%. Non-GAAP net income was $51.0 million, up from $42.1 million, representing a margin of 43.2% compared to 38.0%.
- Adjusted EBITDA: Adjusted EBITDA grew to $56.4 million from $48.9 million, a 15% increase year-over-year, with adjusted EBITDA margins rising to 47.8% from 44.1%.
- Diluted Net Income Per Share and Non-GAAP Diluted Net Income Per Share: Diluted net income per share increased to $0.20 from $0.14, while non-GAAP diluted net income per share rose to $0.25 from $0.20.
- Operating Cash Flow and Free Cash Flow: Operating cash flow surged to $63.9 million from $46.6 million, a 37% increase year-over-year, and free cash flow climbed to $62.3 million from $45.6 million, also a 37% increase.
Fiscal Year 2024 Financial Highlights
Comparisons are made to the fiscal year ending March 31, 2023.
- Revenue: For the fiscal year, Doximity reported revenue of $475.4 million, up from $419.1 million, a 13% year-over-year increase. Subscription revenue increased to $450.1 million from $389.7 million, a 15% rise.
- Net Income and Non-GAAP Net Income: Net income for the year was $147.6 million, up from $112.8 million, with a margin of 31.0% compared to 26.9%. Non-GAAP net income reached $195.6 million, up from $154.9 million, with a margin of 41.2% compared to 37.0%.
- Adjusted EBITDA: Adjusted EBITDA increased to $230.5 million from $184.0 million, a 25% year-over-year rise, with adjusted EBITDA margins improving to 48.5% from 43.9%.
- Diluted Net Income Per Share and Non-GAAP Diluted Net Income Per Share: Diluted net income per share for the fiscal year was $0.72, up from $0.53, while non-GAAP diluted net income per share was $0.95, up from $0.73.
- Operating Cash Flow and Free Cash Flow: Operating cash flow increased to $184.1 million from $179.6 million, a 3% year-over-year increase, while free cash flow rose to $178.3 million from $173.4 million, also a 3% increase.
These financial results demonstrate Doximity’s robust growth and solid market position as it continues to expand its offerings and strengthen its foothold in the digital healthcare sector.
