Financial PerformanceDoximity reported incredibly strong FY2Q results with revenue and EBITDA well ahead of expectations.
Growth OpportunitiesMultiple, Sizable Growth Opportunities Ahead. DOCS is currently just 52% and 11% penetrated into U.S. Pharma mega and mid-tier brands, respectively, leaving a long runway for its land-and-expand strategy.
Stock UpgradeUpgrading Doximity from Outperform to Strong Buy following a significant dislocation in shares post F2Q results, with the current risk/reward at 25x FCF looking too compelling to ignore.