Doximity guides to ~4% FY27 growth and lower margins
Doximity Q4 revenue beats guidance while EPS misses as company guides to ~4% FY27 growth and lower margins
- Q4 non-GAAP EPS $0.26 (-32% YoY) missed expectations, while revenue $145.4M (+5% YoY) beat estimates.
- Q4 revenue $145M, +5% YoY, above the high end of company guidance.
- Company guided June-quarter revenue to $151–$152M, providing its outlook for the upcoming quarter.
- Full-year revenue $645M, +13% YoY; adjusted EBITDA margin steady at 55%.
- FY27 revenue guidance $664–676M implies ~4% growth, a major deceleration from FY26.
- FY27 adjusted EBITDA margin guided to 49%, down from 55%, reflecting AI investments.
- Non-GAAP gross margin fell to 89% in Q4, pressured by higher AI compute.
- Workflow engagement reached 800k quarterly active prescribers, +~30% YoY; nearly half used AI.
- Launched commercial AI Search product; expect minimal FY27 revenue, with a more notable back-half ramp.
- HCP digital pharma ad market described as soft, growing at or below 5%.
- Trailing 12-month net revenue retention 109% overall, 114% for top 20 customers.
- Free cash flow $317M for the year, 49% margin; $432M shares repurchased, strong cash.
- Main concern: soft pharma HCP ad demand and execution risk monetizing new AI Search.
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