Doximity Reports Strong Q2 Earnings Results, Shares Soar

Doximity Inc DOCS shares are surging in Thursday’s after-hours session after the company reported better-than-expected financial results for the second quarter.

• Q2 Revenue: $136.83 million, versus estimates of $127.15 million

• Q2 Adjusted EPS: 30 cents, versus estimates of 25 cents

Revenue was up 20% year-over-year. The company generated $68.3 million in operating cash flow and $66.8 million in free cash flow during the quarter. Free cash flow was up 475% year-over-year.

“Our clinical workflow tools saw record use in the second quarter with over 600,000 unique active prescribers. We’re proud to help physicians save time, so they can provide better care for their patients,” said Jeff Tangney, co-founder and CEO of Doximity.

Guidance: Doximity expects third-quarter revenue to be in the range of $152 million to $153 million. The company anticipates third-quarter Adjusted EBITDA of $83 million to $84 million.

Doximity sees full-year revenue between $535 million and $540 million. The company expects full-year Adjusted EBITDA to be in the range of $274 million to $279 million.

DOCS Price Action: Doximity shares were up 37.91% after hours at $59.88 at the time of publication Thursday, according to Benzinga Pro.

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Photo: Courtesy of Doximity.