Doximity Reports Financial results for the Fiscal 2022 Fourth Quarter and Fiscal Year

May 18, 2022 By MarketDepth

Business Headlines Healthcare What's Hot

standing in window partners

Doximity, Inc. (NYSE: DOCS) reported on Wednesday its financial results for the fiscal 2022 fourth quarter and fiscal year ended March 31, 2022, in which it indicated revenues of $93.7 million, versus $66.7 million, an increase of 40% year-over-year, as well as net income of $36.7 million, versus $21.5 million, representing a 39% margin. 

“We’re proud to now serve over 2 million US healthcare professionals, including over 80% of US physicians and over 50% of Physician Assistants and Nurse Practitioners. This quarter, we added scheduling to our product suite with the acquisition of Amion, and saw record use of our fax, e-signature, and telehealth tools.”

Jeff Tangney, co-founder & CEO at Doximity

Doximity operates a cloud-based digital platform for medical professionals in the United States. The company’s cloud-based platform provides its members with tools built for medical professionals, enabling them to collaborate with their colleagues, coordinate patient care, conduct virtual patient visits, stay up-to-date with the latest medical news and research, and manage their careers. 

In addition, The board of directors of Doximity authorized a new stock repurchase program to acquire up to $70 million of the Company’s Class A common stock, commencing in the first quarter of fiscal 2023.