The company built a digital platform for medical professionals that can help them carry out telehealth appointments with patients, find referrals and more.
Doximity shares ripped higher a day after the company reported fiscal third-quarter results that beat expectations for revenue and guidance.fiscal third-quarter results
For its fiscal fourth quarter, Doximity said it expects to report revenue between $132.5 million and $133.5 million, while analysts were expecting $123.8 million. The company also raised guidance for its full fiscal year and said it expects to report revenue of between $564.6 million and $565.6 million.
Bank of America analysts said Doximity had a "very strong quarter." They said the company's growth rate is benefiting from easy comparables, the launch of its client portal, the ramping of new products and its election spend. "Doximity is accelerating its share gains versus peers which is due to strong contributions from new products and some tailwinds from its new client portal," Bank of America analysts said in the Friday note.
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