NYSE$DOCS
Doximity Inc. · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Revenue surpassed $100 million for the first time, with both top and bottom lines exceeding expectations.
Doximity reported a strong fiscal Q2 2023, with revenue reaching $102.2 million, a 29% increase year-over-year. The company's telehealth platform saw record usage, and Doximity is investing in tools to help physicians save time and improve patient care.
- Total revenue reached $102.2 million, up 29% year-over-year.
- Operating cash flow increased by 106% year-over-year, reaching $39.5 million.
- Free cash flow grew by 109% year-over-year to $37.7 million.
- Telehealth platform reached 370,000 quarterly active clinicians.
Headline financials
Revenue & EPS history
Doximity · Revenue · Quarterly
$102M
Forward guidance
Doximity provided revenue guidance for its fiscal third quarter ending December 31, 2022, and reiterated its fiscal year ending March 31, 2023.
Tailwinds
- Revenue between $110.7 million and $111.7 million for Q3 2023.
- Adjusted EBITDA between $47.7 million and $48.7 million for Q3 2023.
- Revenue between $424.0 million and $432.0 million for fiscal year 2023.
- Adjusted EBITDA between $178.0 million and $186.0 million for fiscal year 2023.
- Board of directors authorized another program to repurchase up to $70 million of the Company’s Class A common stock.
Headwinds
- Stock repurchases are subject to general business and market conditions and other investment opportunities.
- The impact of the COVID-19 pandemic
- Our ability to retain existing members or add new members to our platform and maintain or grow their engagement with our platform
- Our ability to attract new customers or retain existing customers
- Breaches in our security measures or unauthorized access to members’ data
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2023
+5.5%
Avg return
Earnings day
+2.9%
Avg return
5 days after
+3.3%
Avg return
30 days after
64%
14 / 22 earnings
Positive
+45.6%
Q2 2023
Best reaction
-26.6%
Q1 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | +5.3% | -17.6% | -14.3% | |
| Q3 2026 | -16.8% | -22.1% | -23.9% | |
| Q2 2026 | -13.0% | -18.6% | -26.6% | |
| Q1 2026 | +13.4% | +9.3% | +18.4% | |
| Q4 2025 | -10.1% | -13.2% | -4.3% | |
| Q3 2025 | +36.0% | +29.0% | +9.8% | |
| Q4 2024 | +17.5% | +18.1% | +25.2% | |
| Q3 2024 | +4.3% | +5.9% | +1.9% | |
| Q2 2024 | +13.1% | +20.6% | +16.3% | |
| Q1 2024 | -26.6% | -30.9% | -31.6% | |
| Q4 2023 | -6.4% | -6.2% | -5.2% | |
| Q3 2023 | -14.9% | -11.0% | -22.0% | |
| Q2 2023 | +45.6% | +36.6% | +48.5% | |
| Q1 2023 | -11.1% | -13.1% | -22.2% | |
| Q4 2020 | +3.2% | +4.7% | +22.3% | |
| Q4 2022 | -8.1% | -4.3% | -1.9% | |
| Q3 2021 | +21.1% | +13.9% | -6.8% | |
| Q3 2022 | +27.3% | +16.1% | +2.9% | |
| Q2 2021 | +0.2% | -7.5% | -29.5% | |
| Q2 2022 | +1.4% | +3.4% | -19.1% | |
| Q4 2021 | +8.0% | +7.8% | +44.9% | |
| Q1 2022 | +31.5% | +41.9% | +89.2% | |
| Q1 2021 | — | — | — | |
| Q3 2020 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro