Eleven things to know about its financial results from the quarter that ended on Dec. 31:
1. The company reported revenue of $115.3 million, versus $97.9 million, an increase of 18 percent year-over-year.
2. Net income was reported at $33.5 million, versus $55.6 million, representing a margin of 29 percent, versus 56.9 percent — a decrease of 38 percent year-over-year.
3. Non-GAAP net income of $45.8 million, versus $63.6 million, representing a margin of 39.7 percent, versus 65 percent — a decrease of 28 percent year-over-year.
4. Doximity reported adjusted EBITDA of $55.5 million, versus $47.0 million, an increase of 18 percent year-over-year, representing adjusted EBITDA margins of 48.2 percent, versus 48 percent.
5. The company said its diluted net income per share was $0.16, versus $0.26, while non-GAAP diluted net income per share was $0.22, versus $0.29. Those figures represent decreases of 38.4 percent and 24.1 percent, respectively, year-over-year.
6. Operating cash flow was reported at $48.7 million, versus $27.3 million, an increase of 78 percent year-over-year, and free cash flow of $47.5 million, versus $25.6 million, an increase of 85 percent year-over-year.
Expectations for the fiscal fourth quarter ending March 31:
7. Revenue between $109.6 million and $110.6 million.
8. Adjusted EBITDA between $45.2 million and $46.2 million.
Projections for the fiscal year ending March 31:
8. Revenue between $417.7 million and $418.7 million.
9. Adjusted EBITDA between $180.2 million and $181.2 million.
Projections for the fiscal year ending March 31, 2024:
10. Revenue of greater than $500 million.
11. Adjusted EBITDA margin of 43 percent or greater.
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.