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Doximity Q2 revenue beats analyst estimates on AI suite adoption

By Reuters News


Overview

  • Digital health platform's Q2 revenue rose 4% yr/yr, beating analyst expectations

  • Adjusted EBITDA for Q2 beat analyst expectations

  • Net income and margin declined from prior year


Outlook

  • Doximity sees Q3 revenue between $195 mln and $196 mln

  • Company expects Q3 adjusted EBITDA between $102.5 mln and $103.5 mln

  • Doximity sees FY27 revenue between $678 mln and $683 mln


Result Drivers

  • AI INVESTMENTS - Co said it invested heavily in AI during the quarter, according to CEO Jeff Tangney

  • AI SUITE ADOPTION - Co said over 190 health systems have purchased its AI suite, contributing to platform adoption

  • USER ENGAGEMENT - Co reported record engagement on its platform in the quarter


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q2 Revenue

Beat

$174.54 mln

$170.81 mln (19 Analysts)

Q2 Net Income

$34.73 mln

Q2 Adjusted EBITDA

Beat

$88.9 mln

$81.35 mln (19 Analysts)


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 8 "strong buy" or "buy", 12 "hold" and 2 "sell" or "strong sell"

  • Wall Street's median 12-month price target for Doximity, Inc. is $28.50, about 17.8% below its November 4 closing price of $34.67

  • The stock recently traded at 24 times the next 12-month earnings vs. a P/E of 14 three months ago


Reuters Recommended Reads

  • Nov 4 - Amplitude Q3 revenue beats analyst estimates on increased AI solutions demand

  • Nov 4 - ZoomInfo Q3 revenue falls 3%

  • Nov 3 - Dynatrace Q2 revenue beats estimates, sets $1 bln additional buyback


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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