Summary by Moomoo AI
Doximity, a leading digital platform for U.S. medical professionals, reported a revenue increase to $475.4 million for the fiscal year ended March 31, 2024, up from $419.1 million the previous year, marking a 13% growth. The company's net income also rose to $147.6 million from $112.8 million, while adjusted EBITDA reached $230.5 million, up from $184.0 million. The growth was primarily driven by a $60.3 million increase in subscription revenue, with new and existing customers contributing to the expansion. Doximity's customer base with trailing 12-month subscription revenue greater than $100,000 and $500,000 grew, accounting for approximately 90% and 81% of fiscal 2024 revenue, respectively. Despite legal proceedings initiated against the company and certain directors and officers, Doximity intends to defend vigorously. The company's Class A common stock is listed on the...Show More