Doximity's Stellar FY25 Will Be Tough Act to Follow -- Market Talk

Dow Jones
2025/05/16

1108 ET - Doximity's fiscal 2025, which ended March 31, was a strong growth year that fiscal 2026 will have a tough time topping, Mizuho analysts say in a research note. Sales rose 20% from strong revenue retention, particularly among Doximity's top 20 customers. The provider of a networking platform for healthcare professionals now has 116 customers contributing more than $500 million in annual subscription revenue, and those customers account for 84% of FY25's revenue, lowering the risk of small-customer churn, the analysts say. Doximity also grew revenue by 2 to 3 percentage points by shifting to more multi-module integrated offerings, they say. That tough comparison with FY25, along with rising macro uncertainty, explains why Doximity is only guiding for half as much revenue growth in FY26, the analysts say. (dean.seal@wsj.com)

 

(END) Dow Jones Newswires

May 16, 2025 11:08 ET (15:08 GMT)

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