Described as Linked In for medics . Supposedly 80% of US physicians are signed up.
main revenue from Pharmas targeting their drug marketing budgets
here is the S1 Form
Planned to IPO before the end of the month
Motley Fool was raving about them
Digital physicians network Doximity sets terms for $501 million IPO
June 15, 2021
Doximity, a professional network for physicians with telehealth and scheduling tools, announced terms for its IPO on Tuesday.
The San Francisco, CA-based company plans to raise $501 million by offering 23.3 million shares (18% insider) at a price range of $20 to $23. At the midpoint of the proposed range, Doximity would command a fully diluted market value of $4.5 billion.
Doximity is an online platform for physicians that allows them to collaborate with colleagues, securely coordinate patient care, conduct virtual patients visits, read the latest medical news and research, and manage their careers. The company claims that it is the leading digital platform for US medical professionals, with over 1.8 million members as of March 31, 2021, representing more than 80% of physicians across the country.
Doximity was founded in 2010 and booked $207 million in sales for the 12 months ended March 31, 2021. It plans to list on the NYSE under the symbol [DOCS]
Morgan Stanley, Goldman Sachs, J.P. Morgan, Piper Sandler, William Blair, Canaccord Genuity, Needham & Co., Raymond James, and SVB Leerink are the joint bookrunners on the deal. It is expected to price during the week of June 21, 2021.
IPO date 24th June.
Doximity is a networking platform for physicians, that already has 80% of US physicians and 50% of NP’s & physicians assistants as verified members.
Key Numbers
153% Net revenue retention rate
88% Gross profit margin
78% YoY revenue growth
4.8App Store rating
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IPO date 24th June.
Doximity is a networking platform for physicians, that already has 80% of US physicians and 50% of NP’s & physicians assistants as verified members.
Key Numbers
153% Net revenue retention rate
88% Gross profit margin
78% YoY revenue growth
4.8App Store rating
Im really keen on this one!
IPO today!
[$DOCS] (Doximity IPO to price at $26 (above the expected price range of $20 to $23) with offering size being 23,300,000 shares
any news on when we can buy? hey freetrade look over here pleeeease?
We’re planning to add this one today as soon as it’s available on the secondary market.
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Brilliant Sam, Thanks - thats most appreciated!
i think that they will be open for trading by 1pm US time
DOCS indicating will open at $36-$37 from IPO price of $26
Hey when can I buy this
I was hoping earlier but as Sam says we are no doubt waiting for the secondary market provider
Ive been primed all afternoon
opened at $41 faltered at $45 now $51
missed it it I fear
not I sure I now want to buy at this price now
Feel a bit let down here…I know its not FTrade …but who are our US partners?
Shouldn’t have fussed…now $102
Q1 earnings 10/8/21
Doximity Announces Fiscal 2022 First Quarter Financial Results
08/10/2021
Total revenues of $72.7 million, up 100% year-over-year
Net income margin of 36% and adjusted EBITDA margin of 43%
SAN FRANCISCO, Aug. 10, 2021 /PRNewswire/ – Doximity, Inc. (NYSE: DOCS), the leading digital platform for U.S. medical professionals, today announced results for the fiscal 2022 first quarter ended June 30, 2021.
“We’re pleased to report strong financial results in our first quarter as a public company – triple digit revenue growth and record profit margins. The shift to digital among our clients continues, as we generated 167% net revenue retention (for the trailing 12 months), as they see our network is well-built for the highly specialized information flows in medical marketing,” said Jeff Tangney, co-founder & chief executive officer at Doximity. “As frontline physicians grapple with high caseloads and outbreaks, we’re proud our productivity tools were able to help. Our e-signature and fax products saw record usage this quarter and we expanded our enterprise telehealth platform to 24,000 more physicians. We now serve over 30% of all US physicians with our paid telehealth offering.”
Fiscal 2022 First Quarter Financial Highlights:
All comparisons, unless otherwise noted, are to the three months ended June 30, 2020.
- Revenue: Revenue of $72.7 million versus $36.4 million, an increase of 100% year-over-year.
- Net income and non-GAAP net income: Net income of $26.3 million versus $1.5 million, representing a margin of 36%. Non-GAAP net income of $30.6 million, versus $2.5 million, representing a margin of 42%.
- Adjusted EBITDA: Adjusted EBITDA of $31.2 million versus $3.9 million, an increase of 696% year-over-year, representing Adjusted EBITDA margins of 43% versus 11%.
- Net income per share and non-GAAP net income per share: Fully diluted net income per share was $0.09, versus $0.00, while non-GAAP fully diluted net income per share was $0.11 versus $0.00.
- Operating Cash Flow and Free Cash Flow : Operating cash flow of $33.2 million versus $8.8 million, and free cash flow of $32.4 million versus $7.6 million.
- Cash Position: Doximity ended the first quarter of 2022 with $726.5 million of unrestricted cash, cash equivalents and marketable securities after raising $548.5 million in net proceeds from the company’s IPO that closed on June 28th.
Financial Outlook
Doximity is providing guidance for its fiscal second quarter ending September 30, 2021 as follows:
- Revenue between $73.0 million and $74.0 million.
- Adjusted EBITDA between $26.4 million and $27.4 million.
Doximity is providing guidance for its fiscal year ending March 31, 2022 as follows:
- Revenue between $296.5 million and $299.5 million.
- Adjusted EBITDA between $106.0 million and $109.0 million.
Next Earnings Release estimated for 8th Nov
Doximity to Release Fiscal 2022 Second Quarter Results on November 9, 2021
Doximity Announces Fiscal 2022 Second Quarter Financial Results
Tue, November 9, 2021, 9:01 PM·12 min read
Total revenues of $79.4 million, up 76% year-over-year
Net income margin of 45% and adjusted EBITDA margin of 41%
SAN FRANCISCO, Nov. 9, 2021 /PRNewswire/ – Doximity, Inc. (NYSE: DOCS), the leading digital platform for U.S. medical professionals, today announced results for the fiscal 2022 second quarter ended September 30, 2021.
“We’re pleased to report another strong financial quarter as the shift to digital among our clients continues,” said Jeff Tangney, co-founder & CEO at Doximity. “We’re particularly proud that our existing clients generated a record 173% net revenue retention rate (for the trailing 12 months), and that our telehealth platform grew to a record of over 330,000 active providers.”
Fiscal 2022 Second Quarter Financial Highlights:
All comparisons, unless otherwise noted, are to the three months ended September 30, 2020.
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Revenue: Revenue of $79.4 million versus $45.1 million, an increase of 76% year-over-year
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Net income and non-GAAP net income: Net income of $36.1 million versus $10.0 million, representing a 45% margin. Non-GAAP net income of $41.6 million, versus $11.2 million, representing a 52% margin.
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Adjusted EBITDA: Adjusted EBITDA of $32.8 million versus $12.6 million, an increase of 160% year-over-year, representing adjusted EBITDA margins of 41%, versus 28%.
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Net income per share and non-GAAP net income per share: Diluted net income per share was $0.17, versus $0.02, while non-GAAP diluted net income per share was $0.19, versus $0.02.
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Operating cash flow and free cash flow : Operating cash flow of $19.2 million, versus $12.7 million, and free cash flow of $18.1 million, versus $11.3 million.