Doximity down 18% despite quarterly beats on revenue outlook

May 17, 2022 4:44 PM ETDoximity, Inc. (DOCS)By: Jonathan Block, SA News Editor17 Comments

Rolled newspaper with the headline Quarterly Results

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  • Shares of Doximity (NYSE:DOCS) are down 18% in after-hours trading despite reporting fiscal Q4 2022 results that beat on the top and bottom lines.
  • However, FQ3 revenue outlook of $88.6M-$89.6M is below the consensus estimate of $96.91M.
  • Net income in the quarter surged 71% to ~$36.7M ($0.19 basic, $0.17 diluted earnings per share) in the prior-year period.
  • Revenue of ~$93.7M was a ~40% year-over-year increase.
  • For full-year fiscal 2023, revenue outlook is $454M-$458M. Consensus is $452.57M.
  • Doximity's (DOCS) board also authorized a stock repurchase program of up to $70M of common stock beginning this quarter.
  • See why Seeking Alpha contributor WideAlpha is bullish on Doximity (DOCS).

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