NYSE$DOCS
Doximity Inc. · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Doximity's Q3 2023 financial results were announced, demonstrating revenue growth and strong cash flow generation.
Doximity reported total revenues of $115.3 million, an 18% increase year-over-year. Operating cash flow was $48.7 million, up 78% year-over-year, and free cash flow was $47.5 million, up 85% year-over-year.
- Revenue reached $115.3 million, marking an 18% increase compared to the previous year.
- Net income stood at $33.5 million, representing a 29.0% margin.
- Operating cash flow grew to $48.7 million, a 78% increase year-over-year.
- Free cash flow increased to $47.5 million, up 85% year-over-year.
Headline financials
Revenue & EPS history
Doximity · Revenue · Quarterly
$115M
Forward guidance
Doximity provided guidance for its fiscal fourth quarter ending March 31, 2023 and adjusted its guidance for its fiscal year ending March 31, 2023, and provided preliminary guidance for its fiscal year ending March 31, 2024.
Tailwinds
- Revenue between $109.6 million and $110.6 million for the fiscal fourth quarter ending March 31, 2023.
- Adjusted EBITDA between $45.2 million and $46.2 million for the fiscal fourth quarter ending March 31, 2023.
- Revenue between $417.7 million and $418.7 million for the fiscal year ending March 31, 2023.
- Adjusted EBITDA between $180.2 million and $181.2 million for the fiscal year ending March 31, 2023.
- Revenue of greater than $500 million for the fiscal year ending March 31, 2024.
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 Q3 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
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