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Telehealth Platform Doximity Stock Soars as AI Boosts Performance
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Key Points
- With the help of artificial intelligence tools, Doximity released more than expected profits, sales and appearances as customer interactions increased.
- Adjusted EPS is one-third more than analysts’ estimates, and revenue has increased by nearly 25% year-on-year.
- Stocks of telemedicine software providers reached their highest levels in about 3 1/2 years.
Doximity shares (document) On Friday, the day after telemedicine software provider released more than expected results and guidance, which increased by more than 30% when increasing customers Artificial Intelligence (AI).
The company released adjustments for the third quarter of fiscal 2025 Earnings per share (EPS) $0.45, while analysts surveyed by Visible Alpha are expected to be $0.34. Revenue rose nearly 25% year-on-year to $168.6 million, also higher than forecasts.
Co-founder and CEO Jeff Tangney said Doximity “has another quarter of record engagement in the third quarter, with more than 610,000 unique providers using our clinical workflow Tools.” Tangney added that the company’s AI products “growed the fastest last quarter, up 60% from the previous quarter, while our NewsFeed surpassed over a million unique providers”.
Doximity sees adjustments throughout the year EBITDA Between $306.6 million and $307.6 million, revenue was $566 million and $565.6 million. The visible Alpha is estimated at $282.5 million and $497.5 million, respectively.
Doximity stock surged 33% in recent trading to $77.53, the highest level since September 2021. Last year, their highest levels almost tripled.
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