Overview

• Doximity fiscal Q2 revenue grows 23% yr/yr, beating analysts' expectations

• Adjusted EBITDA for fiscal Q2 beats consensus, rising 32% yr/yr

• Company highlights growth in AI tools and user engagement

Outlook

• Doximity sees Q3 revenue between $180 mln and $181 mln

• Company expects Q3 adjusted EBITDA between $103 mln and $104 mln

• Doximity projects FY2026 revenue between $640 mln and $646 mln

• Company anticipates FY2026 adjusted EBITDA between $351 mln and $357 mln

Result Drivers

• AI TOOL ADOPTION - Co attributes revenue growth to increased use of AI tools, with AI Scribe and DoxGPT users growing over 50% from prior qtr

• USER ENGAGEMENT - Record 650,000 prescribers used workflow tools, contributing to revenue growth

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 7 "hold" and 2 "sell" or "strong sell"

• The average consensus recommendation for the software peer group is "buy"

• Wall Street's median 12-month price target for Doximity Inc is $72.50, about 11.7% above its November 5 closing price of $63.99

• The stock recently traded at 40 times the next 12-month earnings vs. a P/E of 39 three months ago

Press Release: ID:nBw2HT3Dqa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)