– моментальные уведомления о рынке акций
– моментальные уведомления о рынке акций
Q4 total revenues of $93.7 million, up 40% year-over-yearQ4 net income margin of 39% and adjusted EBITDA margin of 42%
Fiscal Year 2022 total revenues of $343.5 million, up 66% year-over-yearFiscal year 2022 net income margin of 45% and adjusted EBITDA margin of 44%
SAN FRANCISCO, May 17, 2022 /PRNewswire/ -- Doximity, Inc. (NYSE: DOCS), the leading digital platform for U.S. medical professionals, today announced results for the fiscal 2022 fourth quarter and fiscal year ended March 31, 2022.
"We're proud to now serve over 2 million US healthcare professionals, including over 80% of US physicians and over 50% of Physician Assistants and Nurse Practitioners," said Jeff Tangney, co-founder & CEO at Doximity. "This quarter, we added scheduling to our product suite with the acquisition of Amion, and saw record use of our fax, e-signature, and telehealth tools."
Fiscal 2022 Fourth Quarter Financial Highlights
All comparisons, unless otherwise noted, are to the three months ended March 31, 2021.
Fiscal Year 2022 Financial Highlights
All comparisons, unless otherwise noted, are to the fiscal year ended March 31, 2021.
Financial Outlook
Doximity is providing guidance for its fiscal first quarter ending June 30, 2022 as follows:
Doximity is updating guidance for its fiscal year ending March 31, 2023 as follows:
Stock Repurchase Program
The board of directors of Doximity authorized a new stock repurchase program to acquire up to $70 million of the Company's Class A common stock, commencing in the first quarter of fiscal 2023. The repurchases are expected to be executed from time to time over the next 12 months, subject to general business and market conditions and other investment opportunities, through open market purchases or privately negotiated transactions, including through Rule 10b5-1 plans.
Conference Call Information
Doximity will host a webcast today at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss these financial results. To listen to a live audio webcast, please visit the Company's Investor Relations page at https://investors.doximity.com. The archived webcast will be available on the Company's Investor Relations page shortly after the call.
Founded in 2010, Doximity is the leading digital platform for medical professionals. The company's network members include over 80% of U.S. physicians across all specialties and practice areas. Doximity provides its verified clinical membership with digital tools built for medicine, enabling them to collaborate with colleagues, stay up to date with the latest medical news and research, manage their careers, and conduct virtual patient visits. Doximity's mission is to help doctors be more productive so they can provide better care for their patients. For more information, please visit www.doximity.com.
Forward-Looking Statements
Statements we make in this press release may include statements which are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act, which are usually identified by the use of words such as "anticipates," "believes," "estimates," "expects," "intends," "may," "plans," "projects," "seeks," "should," "will," and variations of such words or similar expressions. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Securities Exchange Act and are making this statement for purposes of complying with those safe harbor provisions. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations, or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors including (i) the timing and scope of anticipated stock repurchases; (ii) the impact of the COVID-19 pandemic (including the impact to our industry or on our customers' industries, impact on general economic conditions, and government responses, restrictions, and actions related to the pandemic); (iii) our ability to retain existing members or add new members to our platform and maintain or grow their engagement with our platform; (iv) our ability to attract new customers or retain existing customers; (v) the impact of our prioritization of our members' interests; (vi) breaches in our security measures or unauthorized access to members' data; (vii) our ability to maintain or manage our growth, and other risks and factors that are beyond our control including, without limitation, those set forth in the section entitled "Risk Factors" in the prospectus for our offering of shares of Class A common stock shares that was filed with the SEC on June 25, 2021, and in our Quarterly Report on Form 10-Q for the quarterly period ended December 31, 2021, as such risk factors may be updated from time to time in our periodic filings with the SEC. Additional information will be provided in our Annual Report on Form 10-K for the annual period ended March 31, 2022. Moreover, we operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could cause actual results to differ materially from those contained in our forward-looking statements. The forward-looking statements made in this press release relate only to management's beliefs and assumptions as of this date. We assume no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Investor Relations Contact:Perry Gold[email protected]
Media Contact:[email protected]
DOXIMITY, INC. |
|||
As of March 31, |
|||
2022 |
2021 |
||
Assets |
|||
Current assets: |
|||
Cash and cash equivalents |
$ 112,809 |
$ 66,393 |
|
Marketable securities |
685,304 |
76,141 |
|
Accounts receivable, net |
81,073 |
50,319 |
|
Prepaid expenses and other current assets |
19,439 |
10,692 |
|
Deferred contract costs, current |
5,512 |
5,856 |
|
Total current assets |
904,137 |
209,401 |
|
Property and equipment, net |
8,488 |
7,598 |
|
Deferred income tax assets |
48,558 |
2,112 |
|
Operating lease right-of-use assets |
1,087 |
1,339 |
|
Intangible assets, net |
7,909 |
9,596 |
|
Goodwill |
18,915 |
18,915 |
|
Other assets |
2,263 |
2,758 |
|
Total assets |
$ 991,357 |
$ 251,719 |
|
Liabilities, Redeemable Convertible Preferred Stock, and Stockholders' |
|||
Current liabilities: |
|||
Accounts payable |
$ 463 |
$ 1,515 |
|
Accrued expenses and other current liabilities |
25,270 |
16,285 |
|
Deferred revenue, current |
84,907 |
83,272 |
|
Operating lease liabilities, current |
642 |
970 |
|
Total current liabilities |
111,282 |
102,042 |
|
Deferred revenue, non-current |
78 |
220 |
|
Operating lease liabilities, non-current |
447 |
284 |
|
Other liabilities, non-current |
956 |
972 |
|
Total liabilities |
112,763 |
103,518 |
|
Redeemable Convertible Preferred Stock |
|||
Redeemable convertible preferred stock |
— |
81,458 |
|
Stockholders' Equity |
|||
Preferred stock |
— |
— |
|
Common stock |
192 |
83 |
|
Additional paid-in capital |
702,589 |
30,357 |
|
Accumulated other comprehensive loss |
(15,294) |
(21) |
|
Retained earnings |
191,107 |
36,324 |
|
Total stockholders' equity |
878,594 |
66,743 |
|
Total liabilities, redeemable convertible preferred stock, and stockholders' |
$ 991,357 |
$ 251,719 |
|
DOXIMITY, INC. |
|||||||
Three Months Ended |
Fiscal Year Ended March |
||||||
2022 |
2021 |
2022 |
2021 |
||||
Revenue |
$ 93,653 |
$ 66,687 |
$ 343,548 |
$ 206,897 |
|||
Cost of revenue(1) |
11,765 |
7,993 |
39,787 |
31,196 |
|||
Gross profit |
81,888 |
58,694 |
303,761 |
175,701 |
|||
Operating expenses(1): |
|||||||
Research and development |
17,424 |
12,558 |
62,350 |
43,873 |
|||
Sales and marketing |
25,899 |
17,586 |
92,129 |
62,033 |
|||
General and administrative |
10,644 |
5,703 |
35,746 |
16,492 |
|||
Total operating expenses |
53,967 |
35,847 |
190,225 |
122,398 |
|||
Income from operations |
27,921 |
22,847 |
113,536 |
53,303 |
|||
Other income (expense), net |
(16) |
38 |
469 |
4,466 |
|||
Income before income taxes |
27,905 |
22,885 |
114,005 |
57,769 |
|||
Provision for (benefit from) income taxes |
(8,821) |
1,402 |
(40,778) |
7,559 |
|||
Net income |
$ 36,726 |
$ 21,483 |
$ 154,783 |
$ 50,210 |
|||
Undistributed earnings attributable to participating securities |
— |
(13,846) |
(21,526) |
(28,654) |
|||
Net income attributable to Class A and Class B common |
$ 36,726 |
$ 7,637 |
$ 133,257 |
$ 21,556 |
|||
Net income per share attributable to Class A and Class B common |
|||||||
Basic |
$ 0.19 |
$ 0.10 |
$ 0.82 |
$ 0.29 |
|||
Diluted |
$ 0.17 |
$ 0.07 |
$ 0.70 |
$ 0.23 |
|||
Weighted-average shares used in computing net income per share |
|||||||
Basic |
191,579 |
79,672 |
163,484 |
74,342 |
|||
Diluted |
215,862 |
103,644 |
191,017 |
95,134 |
|||
(1) Costs and expenses include share-based compensation expenses as follows: |
|||||||
Three Months Ended |
Fiscal Year Ended March |
||||||
2022 |
2021 |
2022 |
2021 |
||||
Cost of revenue |
$ 2,006 |
$ 232 |
$ 4,979 |
$ 600 |
|||
Research and development |
2,201 |
796 |
7,065 |
1,975 |
|||
Sales and marketing |
2,533 |
694 |
8,108 |
1,998 |
|||
General and administrative |
3,069 |
1,148 |
11,290 |
2,679 |
|||
Total stock-based compensation expense |
$ 9,809 |
$ 2,870 |
$ 31,442 |
$ 7,252 |
|||
DOXIMITY, INC. |
|||||||
Three Months Ended |
Fiscal Year Ended March |
||||||
2022 |
2021 |
2022 |
2021 |
||||
Cash flows from operating activities |
|||||||
Net income |
$ 36,726 |
$ 21,483 |
$ 154,783 |
$ 50,210 |
|||
Adjustments to reconcile net income to net cash provided by operating |
|||||||
Depreciation and amortization |
1,368 |
991 |
5,040 |
3,702 |
|||
Deferred income taxes |
(9,275) |
914 |
(41,247) |
4,987 |
|||
Stock-based compensation, net of amounts capitalized |
9,809 |
2,870 |
31,442 |
7,252 |
|||
Non-cash lease expense |
302 |
421 |
1,159 |
2,433 |
|||
Amortization of premium on marketable securities, net |
1,469 |
139 |
4,332 |
197 |
|||
Loss on sale of marketable securities |
708 |
— |
1,231 |
— |
|||
Amortization of deferred contract costs |
2,389 |
2,186 |
9,755 |
6,883 |
|||
Gain on sale of business |
— |
— |
— |
(4,698) |
|||
Other |
288 |
631 |
410 |
403 |
|||
Changes in operating assets and liabilities, net of effect of acquisition: |
|||||||
Accounts receivable |
(11,439) |
(5,965) |
(31,017) |
(20,452) |
|||
Prepaid expenses and other assets |
(2,086) |
(2,003) |
(9,089) |
(1,833) |
|||
Deferred contract costs |
(2,937) |
(3,414) |
(9,609) |
(9,384) |
|||
Accounts payable, accrued expenses and other liabilities |
571 |
644 |
8,664 |
7,285 |
|||
Deferred revenue |
19,367 |
19,198 |
1,828 |
38,571 |
|||
Operating lease liabilities |
(296) |
(544) |
(1,107) |
(2,583) |
|||
Net cash provided by operating activities |
46,964 |
37,551 |
126,575 |
82,973 |
|||
Cash flows from investing activities |
|||||||
Purchases of property and equipment |
(1,060) |
(147) |
(1,912) |
(245) |
|||
Internal-use software development costs |
(1,049) |
(766) |
(3,785) |
(4,365) |
|||
Purchases of marketable securities |
(45,278) |
(44,481) |
(1,317,193) |
(78,880) |
|||
Maturities of marketable securities |
6,302 |
2,537 |
47,919 |
40,537 |
|||
Sales of marketable securities |
16,864 |
— |
633,802 |
— |
|||
Cash paid for acquisition, net of cash acquired |
— |
— |
— |
(31,682) |
|||
Proceeds from sale of business |
— |
— |
— |
4,230 |
|||
Other |
595 |
(12) |
595 |
(12) |
|||
Net cash used in investing activities |
(23,626) |
(42,869) |
(640,574) |
(70,417) |
|||
Cash flows from financing activities |
|||||||
Proceeds from issuance of common stock upon initial public offering after |
— |
— |
553,905 |
— |
|||
Proceeds from issuance of common stock upon exercise of stock options |
3,378 |
4,475 |
12,612 |
8,897 |
|||
Proceeds from issuance of common stock in connection with the employee |
1,395 |
— |
1,395 |
— |
|||
Taxes paid related to net share settlement of equity awards |
(381) |
— |
(817) |
— |
|||
Repurchase of common stock |
— |
(1,652) |
(2,698) |
(2,022) |
|||
Payments for deferred offering costs |
— |
(1,087) |
(3,982) |
(1,468) |
|||
Net cash provided by financing activities |
4,392 |
1,736 |
560,415 |
5,407 |
|||
Net increase (decrease) in cash and cash equivalents |
27,730 |
(3,582) |
46,416 |
17,963 |
|||
Cash and cash equivalents, beginning of period |
85,079 |
69,975 |
66,393 |
48,430 |
|||
Cash and cash equivalents, end of period |
$ 112,809 |
$ 66,393 |
$ 112,809 |
$ 66,393 |
|||
Non-GAAP Financial Measures
To supplement our condensed consolidated financial statements, which are prepared and presented in accordance with accounting principles generally accepted in the United States ("GAAP"), the Company uses the following non-GAAP measures of financial performance:
We use these non-GAAP financial measures internally for financial and operational decision-making purposes and as a means to evaluate period-to-period comparisons. Non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP financial measures and should be read only in conjunction with our condensed consolidated financial statements prepared in accordance with GAAP. Our presentation of non-GAAP financial measures may not be comparable to similar measures used by other companies. We encourage investors to carefully consider our results under GAAP, as well as our supplemental non-GAAP information and the reconciliation between these presentations, to more fully understand our business. Please see the tables included at the end of this release for the reconciliation of GAAP to non-GAAP results.
Key Business Metrics
Reconciliation of GAAP to Non-GAAP Financial Measures
The following tables reconcile the specific items excluded from GAAP metrics in the calculation of non-GAAP metrics for the periods shown below:
Three Months Ended |
Fiscal Year Ended March |
||||||
2022 |
2021 |
2022 |
2021 |
||||
(unaudited) |
|||||||
(in thousands) |
|||||||
Net income |
$ 36,726 |
$ 21,483 |
$ 154,783 |
$ 50,210 |
|||
Adjusted to exclude the following: |
|||||||
Acquisition and other related expenses |
254 |
26 |
254 |
496 |
|||
Stock-based compensation |
9,809 |
2,870 |
31,442 |
7,252 |
|||
Depreciation and amortization |
1,368 |
991 |
5,040 |
3,702 |
|||
Provision for (benefit from) income taxes |
(8,821) |
1,402 |
(40,778) |
7,559 |
|||
Other income (expense), net |
16 |
(38) |
(469) |
(4,466) |
|||
Adjusted EBITDA |
$ 39,352 |
$ 26,734 |
$ 150,272 |
$ 64,753 |
|||
Revenue |
$ 93,653 |
$ 66,687 |
$ 343,548 |
$ 206,897 |
|||
Net income margin |
39 % |
32 % |
45 % |
24 % |
|||
Adjusted EBITDA margin |
42 % |
40 % |
44 % |
31 % |
|||
Three Months Ended |
Fiscal Year Ended March |
||||||
2022 |
2021 |
2022 |
2021 |
||||
(unaudited) |
|||||||
(in thousands) |
|||||||
Net cash provided by operating activities |
$ 46,964 |
$ 37,551 |
$ 126,575 |
$ 82,973 |
|||
Purchases of property and equipment |
(1,060) |
(147) |
(1,912) |
(245) |
|||
Internal-use software development costs |
(1,049) |
(766) |
(3,785) |
(4,365) |
|||
Free cash flow |
$ 44,855 |
$ 36,638 |
$ 120,878 |
$ 78,363 |
|||
Other cash flow components: |
|||||||
Net cash used in investing activities |
$ (23,626) |
$ (42,869) |
$ (640,574) |
$ (70,417) |
|||
Net cash provided by financing activities |
$ 4,392 |
$ 1,736 |
$ 560,415 |
$ 5,407 |
|||
Three Months Ended |
Fiscal Year Ended March |
||||||
2022 |
2021 |
2022 |
2021 |
||||
(unaudited) |
|||||||
(in thousands, except percentages) |
|||||||
GAAP cost of revenue |
$ 11,765 |
$ 7,993 |
$ 39,787 |
$ 31,196 |
|||
Adjusted to exclude the following: |
|||||||
Stock-based compensation |
(2,006) |
(232) |
(4,979) |
(600) |
|||
Non-GAAP cost of revenue |
$ 9,759 |
$ 7,761 |
$ 34,808 |
$ 30,596 |
|||
GAAP gross profit |
$ 81,888 |
$ 58,694 |
$ 303,761 |
$ 175,701 |
|||
Adjusted to exclude the following: |
|||||||
Stock-based compensation |
2,006 |
232 |
4,979 |
600 |
|||
Non-GAAP gross profit |
$ 83,894 |
$ 58,926 |
$ 308,740 |
$ 176,301 |
|||
GAAP gross margin |
87 % |
88 % |
88 % |
85 % |
|||
Non-GAAP gross margin |
90 % |
88 % |
90 % |
85 % |
|||
GAAP research and development expense |
$ 17,424 |
$ 12,558 |
$ 62,350 |
$ 43,873 |
|||
Adjusted to exclude the following: |
|||||||
Stock-based compensation |
(2,201) |
(796) |
(7,065) |
(1,975) |
|||
Non-GAAP research and development expense |
$ 15,223 |
$ 11,762 |
$ 55,285 |
$ 41,898 |
|||
GAAP sales and marketing expense |
$ 25,899 |
$ 17,586 |
$ 92,129 |
$ 62,033 |
|||
Adjusted to exclude the following: |
|||||||
Stock-based compensation |
(2,533) |
(694) |
(8,108) |
(1,998) |
|||
Amortization of acquired intangibles |
(252) |
(264) |
(1,046) |
(1,081) |
|||
Non-GAAP sales and marketing expense |
$ 23,114 |
$ 16,628 |
$ 82,975 |
$ 58,954 |
|||
GAAP general and administrative expense |
$ 10,644 |
$ 5,703 |
$ 35,746 |
$ 16,492 |
|||
Adjusted to exclude the following: |
|||||||
Acquisition and other related expenses |
(254) |
(26) |
(254) |
(496) |
|||
Stock-based compensation |
(3,069) |
(1,148) |
(11,290) |
(2,679) |
|||
Non-GAAP general and administrative expense |
$ 7,321 |
$ 4,529 |
$ 24,202 |
$ 13,317 |
|||
GAAP operating expense |
$ 53,967 |
$ 35,847 |
$ 190,225 |
$ 122,398 |
|||
Adjusted to exclude the following: |
|||||||
Acquisition and other related expenses |
(254) |
(26) |
(254) |
(496) |
|||
Stock-based compensation |
(7,803) |
(2,638) |
(26,463) |
(6,652) |
|||
Amortization of acquired intangibles |
(252) |
(264) |
(1,046) |
(1,081) |
|||
Non-GAAP operating expense |
$ 45,658 |
$ 32,919 |
$ 162,462 |
$ 114,169 |
|||
GAAP operating income |
$ 27,921 |
$ 22,847 |
$ 113,536 |
$ 53,303 |
|||
Adjusted to exclude the following: |
|||||||
Acquisition and other related expenses |
254 |
26 |
254 |
496 |
|||
Stock-based compensation |
9,809 |
2,870 |
31,442 |
7,252 |
|||
Amortization of acquired intangibles |
252 |
264 |
1,046 |
1,081 |
|||
Non-GAAP operating income |
$ 38,236 |
$ 26,007 |
$ 146,278 |
$ 62,132 |
|||
Three Months Ended |
Fiscal Year Ended |
||||||
2022 |
2021 |
2022 |
2021 |
||||
(unaudited) |
|||||||
(in thousands, except per share data and |
|||||||
GAAP net income |
$ 36,726 |
$ 21,483 |
$ 154,783 |
$ 50,210 |
|||
Adjusted to exclude the following: |
|||||||
Acquisition and other related expenses |
254 |
26 |
254 |
496 |
|||
Stock-based compensation |
9,809 |
2,870 |
31,442 |
7,252 |
|||
Amortization of acquired intangibles |
252 |
264 |
1,046 |
1,081 |
|||
Income tax effect of non-GAAP adjustments (1) |
(2,166) |
(664) |
(6,876) |
(1,854) |
|||
Non-GAAP net income |
$ 44,875 |
$ 23,979 |
$ 180,649 |
$ 57,185 |
|||
Non-GAAP net income margin |
48 % |
36 % |
53 % |
28 % |
|||
GAAP undistributed earnings attributable to participating securities |
$ — |
$ (13,846) |
$ (21,526) |
$ (28,654) |
|||
Impact on undistributed earnings attributable to participating |
— |
(1,221) |
(2,616) |
(3,533) |
|||
Non-GAAP undistributed earnings attributable to participating |
$ — |
$ (15,067) |
$ (24,142) |
$ (32,187) |
|||
Non-GAAP net income |
$ 44,875 |
$ 23,979 |
$ 180,649 |
$ 57,185 |
|||
Non-GAAP undistributed earnings attributable to participating |
— |
(15,067) |
(24,142) |
(32,187) |
|||
Non-GAAP net income attributable to Class A and Class B |
$ 44,875 |
$ 8,912 |
$ 156,507 |
$ 24,998 |
|||
Weighted-average shares used in computing net income per share |
|||||||
Basic |
191,579 |
79,672 |
163,484 |
74,342 |
|||
Diluted |
215,862 |
103,644 |
191,017 |
95,134 |
|||
Non-GAAP net income per share attributable to Class A and Class B |
|||||||
Basic |
$ 0.23 |
$ 0.11 |
$ 0.96 |
$ 0.34 |
|||
Diluted |
$ 0.21 |
$ 0.09 |
$ 0.82 |
$ 0.26 |
|||
(1) For the three months and fiscal years ended March 31, 2022 and 2021, management used an estimated annual effective non-GAAP tax rate of 21.0%. |
|||||||
SOURCE Doximity, Inc.
Общая выручка в 4 квартале составила 93,7 млн долларов, что на 40% больше, чем в 4 квартале прошлого года, рентабельность по чистой прибыли составила 39%, а скорректированная рентабельность по EBITDA составила 42%
Общая выручка в 2022 финансовом году составила 343,5 млн долларов, что на 66% больше по сравнению с аналогичным периодом прошлого года. Рентабельность по чистой прибыли в 2022 финансовом году составила 45%, а скорректированная рентабельность по EBITDA - 44%
САН-ФРАНЦИСКО, 17 мая 2022 года /PRNewswire/ -- Doximity, Inc. (NYSE: DOCS), ведущая цифровая платформа для медицинских работников США, сегодня объявила результаты за четвертый квартал 2022 финансового года и финансовый год, закончившийся 31 марта 2022 года.
"Мы гордимся тем, что сейчас обслуживаем более 2 миллионов медицинских работников США, в том числе более 80% врачей США и более 50% ассистентов врачей и практикующих медсестер", - сказал Джефф Тангни, соучредитель и генеральный директор Doximity. "В этом квартале мы добавили планирование в наш набор продуктов с приобретением Amion и увидели рекордное использование наших средств факсимильной связи, электронной подписи и телемедицины".
Основные финансовые показатели Четвертого квартала 2022 финансового года
Все сравнения, если не указано иное, относятся к трем месяцам, закончившимся 31 марта 2021 года.
Основные финансовые показатели 2022 финансового года
Все сравнения, если не указано иное, относятся к финансовому году, закончившемуся 31 марта 2021 года.
Финансовые перспективы
Doximity предоставляет следующие рекомендации для своего первого финансового квартала, заканчивающегося 30 июня 2022 года:
Doximity обновляет руководство на свой финансовый год, заканчивающийся 31 марта 2023 года, следующим образом:
Программа Обратного выкупа Акций
Совет директоров Doximity одобрил новую программу обратного выкупа акций для приобретения обыкновенных акций Компании класса А на сумму до 70 миллионов долларов, которая начнется в первом квартале 2023 финансового года. Ожидается, что выкуп будет осуществляться время от времени в течение следующих 12 месяцев, в зависимости от общих деловых и рыночных условий и других инвестиционных возможностей, посредством покупок на открытом рынке или сделок, заключенных в частном порядке, в том числе в рамках планов по правилу 10b5-1.
Информация о конференц-звонке
Doximity проведет веб-трансляцию сегодня в 14:00 по Тихоокеанскому времени (17:00 по Восточному времени), чтобы обсудить эти финансовые результаты. Чтобы прослушать прямую аудио-трансляцию, пожалуйста, посетите страницу Компании по связям с инвесторами по адресу https://investors.doximity.com . Архивная веб-трансляция будет доступна на странице Компании по связям с инвесторами вскоре после звонка.
Основанная в 2010 году, Doximity является ведущей цифровой платформой для медицинских работников. Членами сети компании являются более 80% врачей США всех специальностей и областей практики. Doximity предоставляет своим проверенным клиническим членам цифровые инструменты, созданные для медицины, позволяющие им сотрудничать с коллегами, быть в курсе последних медицинских новостей и исследований, управлять своей карьерой и проводить виртуальные визиты к пациентам. Миссия Doximity состоит в том, чтобы помочь врачам быть более продуктивными, чтобы они могли лучше заботиться о своих пациентах. Для получения дополнительной информации, пожалуйста, посетите www.doximity.com .
Прогнозные заявления
Заявления, которые мы делаем в этом пресс-релизе, могут включать заявления, которые не являются историческими фактами и считаются прогнозными по смыслу Раздела 27A Закона о ценных бумагах и Раздела 21E Закона о ценных бумагах и биржах, которые обычно обозначаются использованием таких слов, как "ожидает", "полагает", "оценивает", "ожидает", "намеревается", "может", "планирует", "проектирует", "стремится", "должен", "будет" и варианты таких слов или подобных выражений. Мы предполагаем, что эти прогнозные заявления будут подпадать под действие положений о безопасной гавани для прогнозных заявлений, содержащихся в Разделе 27A Закона о ценных бумагах и Разделе 21E Закона о ценных бумагах и биржах, и делаем это заявление в целях соблюдения этих положений о безопасной гавани. Эти прогнозные заявления отражают наши текущие взгляды на наши планы, намерения, ожидания, стратегии и перспективы, которые основаны на имеющейся у нас в настоящее время информации и сделанных нами предположениях. Хотя мы считаем, что наши планы, намерения, ожидания, стратегии и перспективы, отраженные в этих прогнозных заявлениях или предлагаемые ими, являются разумными, мы не можем дать никаких гарантий в том, что планы, намерения, ожидания или стратегии будут реализованы или реализованы. Кроме того, фактические результаты могут существенно отличаться от результатов, описанных в прогнозных заявлениях, и на них будут влиять различные риски и факторы, включая (i) сроки и масштабы предполагаемых выкупов акций; (ii) влияние пандемии COVID-19 (включая воздействие на нашу отрасль или на отрасли промышленности наших клиентов, влияние на общие экономические условия, а также ответные меры правительства, ограничения и действия, связанные с пандемией); (iii) наша способность удерживать существующих участников или добавлять новых участников на нашу платформу и поддерживать или расширять их взаимодействие с нашей платформой; (iv) наша способность привлекать новых клиентов или удерживать существующих клиентов; (v) влияние нашей приоритизации интересов наших участников; (vi) нарушения наших мер безопасности или несанкционированный доступ к данным участников; (vii) наша способность поддерживать или управлять нашим ростом, а также другие риски и факторы, которые находятся вне нашего контроля, включая, помимо прочего, изложенные в разделе, озаглавленном "Факторы риска" в проспекте нашего предложения обыкновенных акций класса А, который был подан в SEC 25 июня 2021 года, и в нашем Ежеквартальном отчете по форме 10-Q за квартальный период, закончившийся 31 декабря 2021 года, поскольку такие факторы риска могут быть время от времени обновляется в наших периодических заявках в SEC. Дополнительная информация будет предоставлена в нашем Годовом отчете по форме 10-K за годовой период, закончившийся 31 марта 2022 года. Кроме того, мы работаем в очень конкурентной и быстро меняющейся среде. Время от времени возникают новые риски и неопределенности, и мы не можем предсказать все риски и неопределенности, которые могут привести к тому, что фактические результаты будут существенно отличаться от тех, которые содержатся в наших прогнозных заявлениях. Прогнозные заявления, сделанные в настоящем пресс-релизе, относятся только к убеждениям и предположениям руководства на эту дату. Мы не берем на себя никаких обязательств по публичному обновлению каких-либо прогнозных заявлений, будь то в результате новой информации, будущих событий или иным образом, за исключением случаев, предусмотренных законом.
Контактное лицо по связям с инвесторами: Перри Голд [email protected]
Контакты для СМИ: [email protected]
DOXIMITY, INC. |
|||
As of March 31, |
|||
2022 |
2021 |
||
Assets |
|||
Current assets: |
|||
Cash and cash equivalents |
$ 112,809 |
$ 66,393 |
|
Marketable securities |
685,304 |
76,141 |
|
Accounts receivable, net |
81,073 |
50,319 |
|
Prepaid expenses and other current assets |
19,439 |
10,692 |
|
Deferred contract costs, current |
5,512 |
5,856 |
|
Total current assets |
904,137 |
209,401 |
|
Property and equipment, net |
8,488 |
7,598 |
|
Deferred income tax assets |
48,558 |
2,112 |
|
Operating lease right-of-use assets |
1,087 |
1,339 |
|
Intangible assets, net |
7,909 |
9,596 |
|
Goodwill |
18,915 |
18,915 |
|
Other assets |
2,263 |
2,758 |
|
Total assets |
$ 991,357 |
$ 251,719 |
|
Liabilities, Redeemable Convertible Preferred Stock, and Stockholders' |
|||
Current liabilities: |
|||
Accounts payable |
$ 463 |
$ 1,515 |
|
Accrued expenses and other current liabilities |
25,270 |
16,285 |
|
Deferred revenue, current |
84,907 |
83,272 |
|
Operating lease liabilities, current |
642 |
970 |
|
Total current liabilities |
111,282 |
102,042 |
|
Deferred revenue, non-current |
78 |
220 |
|
Operating lease liabilities, non-current |
447 |
284 |
|
Other liabilities, non-current |
956 |
972 |
|
Total liabilities |
112,763 |
103,518 |
|
Redeemable Convertible Preferred Stock |
|||
Redeemable convertible preferred stock |
— |
81,458 |
|
Stockholders' Equity |
|||
Preferred stock |
— |
— |
|
Common stock |
192 |
83 |
|
Additional paid-in capital |
702,589 |
30,357 |
|
Accumulated other comprehensive loss |
(15,294) |
(21) |
|
Retained earnings |
191,107 |
36,324 |
|
Total stockholders' equity |
878,594 |
66,743 |
|
Total liabilities, redeemable convertible preferred stock, and stockholders' |
$ 991,357 |
$ 251,719 |
|
DOXIMITY, INC. |
|||||||
Three Months Ended |
Fiscal Year Ended March |
||||||
2022 |
2021 |
2022 |
2021 |
||||
Revenue |
$ 93,653 |
$ 66,687 |
$ 343,548 |
$ 206,897 |
|||
Cost of revenue(1) |
11,765 |
7,993 |
39,787 |
31,196 |
|||
Gross profit |
81,888 |
58,694 |
303,761 |
175,701 |
|||
Operating expenses(1): |
|||||||
Research and development |
17,424 |
12,558 |
62,350 |
43,873 |
|||
Sales and marketing |
25,899 |
17,586 |
92,129 |
62,033 |
|||
General and administrative |
10,644 |
5,703 |
35,746 |
16,492 |
|||
Total operating expenses |
53,967 |
35,847 |
190,225 |
122,398 |
|||
Income from operations |
27,921 |
22,847 |
113,536 |
53,303 |
|||
Other income (expense), net |
(16) |
38 |
469 |
4,466 |
|||
Income before income taxes |
27,905 |
22,885 |
114,005 |
57,769 |
|||
Provision for (benefit from) income taxes |
(8,821) |
1,402 |
(40,778) |
7,559 |
|||
Net income |
$ 36,726 |
$ 21,483 |
$ 154,783 |
$ 50,210 |
|||
Undistributed earnings attributable to participating securities |
— |
(13,846) |
(21,526) |
(28,654) |
|||
Net income attributable to Class A and Class B common |
$ 36,726 |
$ 7,637 |
$ 133,257 |
$ 21,556 |
|||
Net income per share attributable to Class A and Class B common |
|||||||
Basic |
$ 0.19 |
$ 0.10 |
$ 0.82 |
$ 0.29 |
|||
Diluted |
$ 0.17 |
$ 0.07 |
$ 0.70 |
$ 0.23 |
|||
Weighted-average shares used in computing net income per share |
|||||||
Basic |
191,579 |
79,672 |
163,484 |
74,342 |
|||
Diluted |
215,862 |
103,644 |
191,017 |
95,134 |
|||
(1) Costs and expenses include share-based compensation expenses as follows: |
|||||||
Three Months Ended |
Fiscal Year Ended March |
||||||
2022 |
2021 |
2022 |
2021 |
||||
Cost of revenue |
$ 2,006 |
$ 232 |
$ 4,979 |
$ 600 |
|||
Research and development |
2,201 |
796 |
7,065 |
1,975 |
|||
Sales and marketing |
2,533 |
694 |
8,108 |
1,998 |
|||
General and administrative |
3,069 |
1,148 |
11,290 |
2,679 |
|||
Total stock-based compensation expense |
$ 9,809 |
$ 2,870 |
$ 31,442 |
$ 7,252 |
|||
DOXIMITY, INC. |
|||||||
Three Months Ended |
Fiscal Year Ended March |
||||||
2022 |
2021 |
2022 |
2021 |
||||
Cash flows from operating activities |
|||||||
Net income |
$ 36,726 |
$ 21,483 |
$ 154,783 |
$ 50,210 |
|||
Adjustments to reconcile net income to net cash provided by operating |
|||||||
Depreciation and amortization |
1,368 |
991 |
5,040 |
3,702 |
|||
Deferred income taxes |
(9,275) |
914 |
(41,247) |
4,987 |
|||
Stock-based compensation, net of amounts capitalized |
9,809 |
2,870 |
31,442 |
7,252 |
|||
Non-cash lease expense |
302 |
421 |
1,159 |
2,433 |
|||
Amortization of premium on marketable securities, net |
1,469 |
139 |
4,332 |
197 |
|||
Loss on sale of marketable securities |
708 |
— |
1,231 |
— |
|||
Amortization of deferred contract costs |
2,389 |
2,186 |
9,755 |
6,883 |
|||
Gain on sale of business |
— |
— |
— |
(4,698) |
|||
Other |
288 |
631 |
410 |
403 |
|||
Changes in operating assets and liabilities, net of effect of acquisition: |
|||||||
Accounts receivable |
(11,439) |
(5,965) |
(31,017) |
(20,452) |
|||
Prepaid expenses and other assets |
(2,086) |
(2,003) |
(9,089) |
(1,833) |
|||
Deferred contract costs |
(2,937) |
(3,414) |
(9,609) |
(9,384) |
|||
Accounts payable, accrued expenses and other liabilities |
571 |
644 |
8,664 |
7,285 |
|||
Deferred revenue |
19,367 |
19,198 |
1,828 |
38,571 |
|||
Operating lease liabilities |
(296) |
(544) |
(1,107) |
(2,583) |
|||
Net cash provided by operating activities |
46,964 |
37,551 |
126,575 |
82,973 |
|||
Cash flows from investing activities |
|||||||
Purchases of property and equipment |
(1,060) |
(147) |
(1,912) |
(245) |
|||
Internal-use software development costs |
(1,049) |
(766) |
(3,785) |
(4,365) |
|||
Purchases of marketable securities |
(45,278) |
(44,481) |
(1,317,193) |
(78,880) |
|||
Maturities of marketable securities |
6,302 |
2,537 |
47,919 |
40,537 |
|||
Sales of marketable securities |
16,864 |
— |
633,802 |
— |
|||
Cash paid for acquisition, net of cash acquired |
— |
— |
— |
(31,682) |
|||
Proceeds from sale of business |
— |
— |
— |
4,230 |
|||
Other |
595 |
(12) |
595 |
(12) |
|||
Net cash used in investing activities |
(23,626) |
(42,869) |
(640,574) |
(70,417) |
|||
Cash flows from financing activities |
|||||||
Proceeds from issuance of common stock upon initial public offering after |
— |
— |
553,905 |
— |
|||
Proceeds from issuance of common stock upon exercise of stock options |
3,378 |
4,475 |
12,612 |
8,897 |
|||
Proceeds from issuance of common stock in connection with the employee |
1,395 |
— |
1,395 |
— |
|||
Taxes paid related to net share settlement of equity awards |
(381) |
— |
(817) |
— |
|||
Repurchase of common stock |
— |
(1,652) |
(2,698) |
(2,022) |
|||
Payments for deferred offering costs |
— |
(1,087) |
(3,982) |
(1,468) |
|||
Net cash provided by financing activities |
4,392 |
1,736 |
560,415 |
5,407 |
|||
Net increase (decrease) in cash and cash equivalents |
27,730 |
(3,582) |
46,416 |
17,963 |
|||
Cash and cash equivalents, beginning of period |
85,079 |
69,975 |
66,393 |
48,430 |
|||
Cash and cash equivalents, end of period |
$ 112,809 |
$ 66,393 |
$ 112,809 |
$ 66,393 |
|||
Финансовые показатели, Не относящиеся к ОПБУ
В дополнение к нашей сокращенной консолидированной финансовой отчетности, которая подготовлена и представлена в соответствии с принципами бухгалтерского учета, общепринятыми в Соединенных Штатах ("GAAP"), Компания использует следующие показатели финансовых результатов, отличные от GAAP:
Мы используем эти финансовые показатели, не относящиеся к GAAP, внутри компании для принятия финансовых и операционных решений, а также в качестве средства оценки сопоставлений между периодами. Финансовые показатели, не относящиеся к ОПБУ, не предназначены для рассмотрения изолированно или в качестве замены сопоставимых финансовых показателей по ОПБУ и должны рассматриваться только в сочетании с нашей сокращенной консолидированной финансовой отчетностью, подготовленной в соответствии с ОПБУ. Наше представление финансовых показателей, не относящихся к GAAP, может быть несопоставимо с аналогичными показателями, используемыми другими компаниями. Мы призываем инвесторов внимательно изучить наши результаты по GAAP, а также нашу дополнительную информацию, не относящуюся к GAAP, и сверку между этими презентациями, чтобы более полно понять наш бизнес. Пожалуйста, ознакомьтесь с таблицами, приведенными в конце этого выпуска, для сверки результатов GAAP с результатами, не относящимися к GAAP.
Ключевые Бизнес-показатели
Сверка ОПБУ с финансовыми показателями, не относящимися к ОПБУ
В следующих таблицах приведены конкретные статьи, исключенные из показателей GAAP при расчете показателей, не относящихся к GAAP, за периоды, указанные ниже:
Three Months Ended |
Fiscal Year Ended March |
||||||
2022 |
2021 |
2022 |
2021 |
||||
(unaudited) |
|||||||
(in thousands) |
|||||||
Net income |
$ 36,726 |
$ 21,483 |
$ 154,783 |
$ 50,210 |
|||
Adjusted to exclude the following: |
|||||||
Acquisition and other related expenses |
254 |
26 |
254 |
496 |
|||
Stock-based compensation |
9,809 |
2,870 |
31,442 |
7,252 |
|||
Depreciation and amortization |
1,368 |
991 |
5,040 |
3,702 |
|||
Provision for (benefit from) income taxes |
(8,821) |
1,402 |
(40,778) |
7,559 |
|||
Other income (expense), net |
16 |
(38) |
(469) |
(4,466) |
|||
Adjusted EBITDA |
$ 39,352 |
$ 26,734 |
$ 150,272 |
$ 64,753 |
|||
Revenue |
$ 93,653 |
$ 66,687 |
$ 343,548 |
$ 206,897 |
|||
Net income margin |
39 % |
32 % |
45 % |
24 % |
|||
Adjusted EBITDA margin |
42 % |
40 % |
44 % |
31 % |
|||
Three Months Ended |
Fiscal Year Ended March |
||||||
2022 |
2021 |
2022 |
2021 |
||||
(unaudited) |
|||||||
(in thousands) |
|||||||
Net cash provided by operating activities |
$ 46,964 |
$ 37,551 |
$ 126,575 |
$ 82,973 |
|||
Purchases of property and equipment |
(1,060) |
(147) |
(1,912) |
(245) |
|||
Internal-use software development costs |
(1,049) |
(766) |
(3,785) |
(4,365) |
|||
Free cash flow |
$ 44,855 |
$ 36,638 |
$ 120,878 |
$ 78,363 |
|||
Other cash flow components: |
|||||||
Net cash used in investing activities |
$ (23,626) |
$ (42,869) |
$ (640,574) |
$ (70,417) |
|||
Net cash provided by financing activities |
$ 4,392 |
$ 1,736 |
$ 560,415 |
$ 5,407 |
|||
Three Months Ended |
Fiscal Year Ended March |
||||||
2022 |
2021 |
2022 |
2021 |
||||
(unaudited) |
|||||||
(in thousands, except percentages) |
|||||||
GAAP cost of revenue |
$ 11,765 |
$ 7,993 |
$ 39,787 |
$ 31,196 |
|||
Adjusted to exclude the following: |
|||||||
Stock-based compensation |
(2,006) |
(232) |
(4,979) |
(600) |
|||
Non-GAAP cost of revenue |
$ 9,759 |
$ 7,761 |
$ 34,808 |
$ 30,596 |
|||
GAAP gross profit |
$ 81,888 |
$ 58,694 |
$ 303,761 |
$ 175,701 |
|||
Adjusted to exclude the following: |
|||||||
Stock-based compensation |
2,006 |
232 |
4,979 |
600 |
|||
Non-GAAP gross profit |
$ 83,894 |
$ 58,926 |
$ 308,740 |
$ 176,301 |
|||
GAAP gross margin |
87 % |
88 % |
88 % |
85 % |
|||
Non-GAAP gross margin |
90 % |
88 % |
90 % |
85 % |
|||
GAAP research and development expense |
$ 17,424 |
$ 12,558 |
$ 62,350 |
$ 43,873 |
|||
Adjusted to exclude the following: |
|||||||
Stock-based compensation |
(2,201) |
(796) |
(7,065) |
(1,975) |
|||
Non-GAAP research and development expense |
$ 15,223 |
$ 11,762 |
$ 55,285 |
$ 41,898 |
|||
GAAP sales and marketing expense |
$ 25,899 |
$ 17,586 |
$ 92,129 |
$ 62,033 |
|||
Adjusted to exclude the following: |
|||||||
Stock-based compensation |
(2,533) |
(694) |
(8,108) |
(1,998) |
|||
Amortization of acquired intangibles |
(252) |
(264) |
(1,046) |
(1,081) |
|||
Non-GAAP sales and marketing expense |
$ 23,114 |
$ 16,628 |
$ 82,975 |
$ 58,954 |
|||
GAAP general and administrative expense |
$ 10,644 |
$ 5,703 |
$ 35,746 |
$ 16,492 |
|||
Adjusted to exclude the following: |
|||||||
Acquisition and other related expenses |
(254) |
(26) |
(254) |
(496) |
|||
Stock-based compensation |
(3,069) |
(1,148) |
(11,290) |
(2,679) |
|||
Non-GAAP general and administrative expense |
$ 7,321 |
$ 4,529 |
$ 24,202 |
$ 13,317 |
|||
GAAP operating expense |
$ 53,967 |
$ 35,847 |
$ 190,225 |
$ 122,398 |
|||
Adjusted to exclude the following: |
|||||||
Acquisition and other related expenses |
(254) |
(26) |
(254) |
(496) |
|||
Stock-based compensation |
(7,803) |
(2,638) |
(26,463) |
(6,652) |
|||
Amortization of acquired intangibles |
(252) |
(264) |
(1,046) |
(1,081) |
|||
Non-GAAP operating expense |
$ 45,658 |
$ 32,919 |
$ 162,462 |
$ 114,169 |
|||
GAAP operating income |
$ 27,921 |
$ 22,847 |
$ 113,536 |
$ 53,303 |
|||
Adjusted to exclude the following: |
|||||||
Acquisition and other related expenses |
254 |
26 |
254 |
496 |
|||
Stock-based compensation |
9,809 |
2,870 |
31,442 |
7,252 |
|||
Amortization of acquired intangibles |
252 |
264 |
1,046 |
1,081 |
|||
Non-GAAP operating income |
$ 38,236 |
$ 26,007 |
$ 146,278 |
$ 62,132 |
|||
Three Months Ended |
Fiscal Year Ended |
||||||
2022 |
2021 |
2022 |
2021 |
||||
(unaudited) |
|||||||
(in thousands, except per share data and |
|||||||
GAAP net income |
$ 36,726 |
$ 21,483 |
$ 154,783 |
$ 50,210 |
|||
Adjusted to exclude the following: |
|||||||
Acquisition and other related expenses |
254 |
26 |
254 |
496 |
|||
Stock-based compensation |
9,809 |
2,870 |
31,442 |
7,252 |
|||
Amortization of acquired intangibles |
252 |
264 |
1,046 |
1,081 |
|||
Income tax effect of non-GAAP adjustments (1) |
(2,166) |
(664) |
(6,876) |
(1,854) |
|||
Non-GAAP net income |
$ 44,875 |
$ 23,979 |
$ 180,649 |
$ 57,185 |
|||
Non-GAAP net income margin |
48 % |
36 % |
53 % |
28 % |
|||
GAAP undistributed earnings attributable to participating securities |
$ — |
$ (13,846) |
$ (21,526) |
$ (28,654) |
|||
Impact on undistributed earnings attributable to participating |
— |
(1,221) |
(2,616) |
(3,533) |
|||
Non-GAAP undistributed earnings attributable to participating |
$ — |
$ (15,067) |
$ (24,142) |
$ (32,187) |
|||
Non-GAAP net income |
$ 44,875 |
$ 23,979 |
$ 180,649 |
$ 57,185 |
|||
Non-GAAP undistributed earnings attributable to participating |
— |
(15,067) |
(24,142) |
(32,187) |
|||
Non-GAAP net income attributable to Class A and Class B |
$ 44,875 |
$ 8,912 |
$ 156,507 |
$ 24,998 |
|||
Weighted-average shares used in computing net income per share |
|||||||
Basic |
191,579 |
79,672 |
163,484 |
74,342 |
|||
Diluted |
215,862 |
103,644 |
191,017 |
95,134 |
|||
Non-GAAP net income per share attributable to Class A and Class B |
|||||||
Basic |
$ 0.23 |
$ 0.11 |
$ 0.96 |
$ 0.34 |
|||
Diluted |
$ 0.21 |
$ 0.09 |
$ 0.82 |
$ 0.26 |
|||
(1) For the three months and fiscal years ended March 31, 2022 and 2021, management used an estimated annual effective non-GAAP tax rate of 21.0%. |
|||||||
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