Shares of Doximity, Inc. (DOCS) are soaring 9.79% in pre-market trading on Friday, following a series of positive announcements that have boosted investor confidence in the digital platform for medical professionals.
The company released its fiscal 2026 first-quarter results after market close on Thursday, surpassing analyst expectations. Doximity reported adjusted earnings per share of $0.36, beating the consensus estimate of $0.30 by 20% and marking a 28.57% increase from the same period last year. Revenue for the quarter came in at $145.91 million, exceeding analyst projections of $139.54 million and representing a 15.2% year-over-year growth.
Adding to the positive sentiment, Doximity provided an upbeat forecast for both the second quarter and the full fiscal year 2026. The company expects Q2 revenue between $157 million and $158 million, well above the consensus estimate of $150.35 million. For the full fiscal year, Doximity raised its revenue guidance to $628 million - $636 million, surpassing analysts' expectations of $626.47 million. Furthermore, the company announced its strategic acquisition of Pathway Medical, an AI-driven clinical reference startup, for up to $63 million, potentially enhancing its service offerings and strengthening its market position in the healthcare technology sector.
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