Doximity's Q2 revenue soars 76% as company pegs valuation at nearly $14B | FierceHealthcare

Doximity, a health tech company that claims to have more than 80% of doctors on its network, brought in $79 million in revenue in the second quarter, a 76% jump from the same period a year ago. The company’s Q2 2020 revenue came to $45 million. Doximity also brought in $36.1 million in net income in its fiscal 2022 second quarter, which ended September 30, versus $10 million during the same quarter a year ago, representing a 45% margin, the company reported in its second-quarter earnings results. Non-GAAP net income for the quarter came to $42 million, versus $11 million, representing a 52% margin. “We’re pleased to report another strong financial quarter as the shift to digital among our clients continues,” said Jeff Tangney, co-founder and CEO at Doximity said in a statement. “We’re particularly proud that our existing clients generated a record 173% net revenue retention rate, for the trailing 12 months, and that our telehealth platform grew to a record of over 330,000 active providers.” The company, which was founded in 2010, has been steadily growing and pegs its current market value at nearly $14 billion. RELATED: Doximity doubles in public debut and blows away IPO goal with $600M haul Doximity operates like a LinkedIn for…
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