Doximity (DOCS) To Report Earnings Tomorrow: Here Is What To Expect

Radek Strnad /
2022/08/03 4:11 am EDT

Healthcare professional network Doximity (NYSE:DOCS) will be reporting earnings tomorrow after market close. Here's what to expect.

Last quarter Doximity reported revenues of $93.6 million, up 40.4% year on year, beating analyst revenue expectations by 3.86%. It was a weaker quarter for the company, with an underwhelming guidance for the next quarter.

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This quarter analysts are expecting Doximity's revenue to grow 23.3% year on year to $89.6 million, slowing down from the 99.7% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.11 per share.

Doximity Total Revenue

Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company has a history of exceeding Wall St's expectations, beating revenue estimates every single time since going public on average by 9.86%.

Looking at Doximity's peers in the vertical software segment, only 2U has so far reported results, delivering top-line growth of 1.79% year on year, missing analyst estimates by 5.04%. The stock was down 3.18% on the results. Read our full analysis of 2U's earnings results here.

Investors in the software segment have had steady hands going into the earnings, with the stocks down on average 0.8% over the last month. Doximity is up 12.3% during the same time, and is heading into the earnings with analyst price target of $48.3, compared to share price of $43.25.

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The author has no position in any of the stocks mentioned.