Doximity, Inc. (NYSE: DOCS) experienced an upward trajectory subsequent to the market’s closure on Thursday. The company’s stock demonstrated a noteworthy ascent during the extended session, registering an 18.39% increase and reaching a closing value of $24.27. This surge followed a 2.71% decline in the regular trading session, concluding at $20.50. The positive momentum ensued subsequent to the disclosure of the company’s financial results.
Doximity (DOCS) unveiled the outcomes of its fiscal 2024 second quarter concluded on September 30, 2023, showcasing a revenue of $113.6 million. That represents an 11% year-over-year upswing compared to the $102.2 million revenue reported in the corresponding quarter of the preceding year. Net income also rose to $30.6 million as compared to the $26.3 million recorded in the same quarter of the previous fiscal year. DOCS also reported substantial growth in Adjusted EBITDA by posting $54.2 million to mark 18% year-over-year increase from $46.0 million.
In response to the escalating violence and harassment directed at healthcare professionals, Doximity recently introduced DocDefender, a complimentary service designed for physicians. This tool is dedicated to identifying and eradicating their personal contact information from public websites. Recognizing the contemporary challenges faced by healthcare workers, particularly in the digital landscape, Doximity developed DocDefender to empower doctors in safeguarding both themselves and their families by assuming control over their online private information.
Approximately 50% of healthcare workers experience violence during their careers, according to OSHA research. These threats extend beyond the workplace in today’s digital age. A recent Doximity survey involving over 2,000 physicians revealed that 85% of them are apprehensive about patients discovering their personal information online, with 35% confirming that such incidents have already transpired.
DocDefender employs advanced algorithms to scour prominent people search sites and data brokers for a physician’s private information. Subsequently, it initiates removal requests on behalf of the user, overseeing the entire removal process and providing periodic follow-up privacy reports to the physician. The platform allows physicians to actively monitor the status of removals through the user-friendly DocDefender interface.