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Dec 31, 2022
Doximity Q3 2023 Earnings Report
Doximity's Q3 2023 financial results were announced, demonstrating revenue growth and strong cash flow generation.
Key Takeaways
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.
Doximity
Doximity
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.
Positive Outlook
- 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.