Doximity (DOCS) Stock Surges 105% Despite Earnings Miss as AI Takes Center Stage
TLDR
- DOCS stock jumped 105% in premarket trading to $42.39 despite missing EPS estimates by 4.2%
- CEO Jeff Tangney credited a “once-in-a-generation opportunity” in clinical AI during the earnings call
- Doximity’s Ask AI model outperformed U.S. rivals including Anthropic’s Fable 5 in a Stanford/Harvard study
- Scribe note-taking users were up 10x in July compared to a year ago
- Revenue beat estimates at $156.6 million, up 7.3% year-on-year; full-year revenue guidance raised to $676 million
Doximity stock jumped 105% in premarket trading on Friday, hitting $42.39, after the medical networking platform’s earnings call sent investors into a buying frenzy, even though the company missed its earnings target.
The quarter itself was a mixed bag. Revenue came in at $156.6 million, up 7.3% year-on-year, beating analyst estimates of $151.3 million by 3.5%. But adjusted EPS of $0.29 missed the $0.30 consensus by 4.2%. Adjusted EBITDA came in at $74.77 million, beating estimates by 7.4%.
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