11 things to know about Doximity’s third quarter financials

Doximity reported an 18% increase in revenue, a 78% increase in operating cash flow and an 85% increase in free cash flow year-over-year in its fiscal third quarter results released on Feb. 9.

Eleven things to know about financial results for the quarter ended December 31:

1. The company reported revenue of $115.3 million compared to $97.9 million year-on-year. 18 percent increase year after year.

2. Net income was $33.5 million vs. $55.6 million, representing a margin of 29% compared to 56.9%. 38 percent decline year after year.

3. Non-GAAP net income of $45.8 million vs. $63.6 million, representing a margin of 39.7% vs. 65% – 28 percent decline year after year.

4. Doximity reported Adjusted EBITDA of $55.5 million compared to $47.0 million 18 percent increase year on year, representing an adjusted EBITDA margin of 48.2 percent, compared to 48 percent.

5. The company stated that diluted EPS was $0.16 vs. $0.26, while non-GAAP diluted EPS was $0.22 vs. $0.29. These numbers represent a decrease of 38.4 percent and 24.1 percentrespectively, on an annualized basis.

6. Operating cash flow was $48.7 million. USD compared to USD 27.3 million last year. 78 percent increase compared to the previous year, and free cash flow was $47.5 million compared to $25.6 million, 85 percent increase year after year.

Expectations for the fourth fiscal quarter ending March 31:

7. Revenue from $109.6 million to $110.6 million.

8. Adjusted EBITDA from $45.2 million to $46.2 million.

Forecasts for the fiscal year ending March 31:

8. Revenue from $417.7 million to $418.7 million.

9. Adjusted EBITDA from $180.2 million to $181.2 million.

Forecasts for the fiscal year ending March 31, 2024:

10. Income over $500 million.

11. Adjusted EBITDA margin of 43 percent or higher.

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