Doximity, Inc. · NYSE:DOCS
Doximity — Investor Presentation (February 2024)
19 slides from Doximity's investor presentation, February 2024
Slide 1: Investor Presentation Winter/Spring 2024
INVESTOR PRESENTATION Winter/Spring 2024
Slide 2: Legal Disclaimer
LEGAL DISCLAIMER This presentation and associated commentary may contain forward-looking statements, including statements regarding expectations of future results of operations or financial performance of Doximity, market size and growth opportunities, the calculation of certain of our key financial
Slide 3: The Digital Platform for Doctors
THE DIGITAL PLATFORM FOR DOCTORS Leading Network Blue Chip Clients Growth and Profit 80%+ 20/20 Top Hospitals 18% of all U.S. and Health Systems Subscription Physicians1 Top Pharmaceutical Revenue Growth4 Manufacturers3 >560K 115% 48% Workflow Unique Net Revenue Adj. EBITDA Active Providers2 Retention
Slide 4: Glaring Day-to-Day Inefficiencies
GLARING DAY-TO-DAY INEFFICIENCIES 80% of US HC documents sent via snail mail and fax1 78% of physicians report burnout, with health IT as one of least satisfying factors2 1. Keeping it Together Issue Brief on Exchanging Medical Documentation CAQH Nov 2020. Does not include email. 2. 2018 Survey of A
Slide 5: Bringing Tech to Medicine
BRINGING TECH TO MEDICINE Inspired by enterprise tech Purpose-built for healthcare Networking Professional Network Professional Profiles, Search, Colleague Connectivity, Career Management News & Scheduling Newsfeed eSignatures Medical Articles & News, Peer Updates, Clinical Discussions, CME Credit, S
Slide 6: Purpose Built for Healthcare
PURPOSE BUILT FOR HEALTHCARE Professional Network Newsfeed Clinical Workflow Suite Investor Presentation — February, 2024
Slide 7: Enterprise Clinical Workflow Suite
ENTERPRISE CLINICAL WORKFLOW SUITE ‘Best in KLAS’ 3 YEARS IN A ROW DIALER AMION GPT One-click voice On-call scheduling AI-powered medical and video calls and messaging writing assistant Investor Presentation — February, 2024
Slide 8: Our Commercial Solutions
OUR COMMERCIAL SOLUTIONS Marketing Hiring Enterprise Workflow Educate on Latest News & Treatments Uncover Passive Candidates Reduce No-Shows & Leakage Relevance and personalization drive Rx’s & Referrals Find specialized talent #1 “Best in KLAS” Telehealth Video Conferencing Hundreds of thousands of
Slide 9: Marketing Solutions
MARKETING SOLUTIONS Largest Revenue Driver: Marketing Solutions Health Systems 2 17:1 ROI LexisNexis Pharma Leading Network Subscription Pricing Model >73% of healthcare spend 1. Audience (e.g. specialty) 3 is decided by Doctors1 2. Number of audience members 11:1 ROI 3. Type and number of modules I
Slide 10: Land & Expand Sales Motion
LAND & EXPAND SALES MOTION 1 Land Initial Brands or Service Lines 2 Expand to Add’l Brands or Service Lines Service Service Brand Line Line 07 07 08 Service Service Service Brand Brand Brand Line Line Line 04 05 06 04 05 06 Service Service Service Service Brand Brand Brand Brand Line Line Line Line
Slide 11: Categories of Modules
CATEGORIES OF MODULES Awareness Interactivity Peer Build brand equity and Replace face-to-face interactions Connect and build communicate key messages with digital alternatives professional relationships Investor Presentation — February, 2024
Slide 12: Large & Growing Total Addressable Market
LARGE & GROWING TOTAL ADDRESSABLE MARKET + + (1) (2) (3) 1. Pharmaceutical Marketing TAM represents total annual marketing spend by Pharmaceutical Manufacturers to Doctors. Source: IQVIA 2019 US ChannelDynamics and Kantar Media Intelligence, US Healthcare Ad Spend 2. Health System Marketing and Staf
Slide 13: ~430 Rx Brands with $100M+ in U.S. Sales
~430 RX BRANDS WITH $100M+ IN U.S. SALES Estimated Doximity Share of HCP Marketing Budgets at Customers1 Est. Share of Total HCP Marketing Budgets1 <5% Current Potential Penetration Expansion Note: Each box represents one brand with $100M+ in U.S. sales 1. As of March 31, 2023 >50% 20-50% 5-20% <5%
Slide 14: Q3 Key Metrics
Q3 KEY METRICS LAND & EXPAND Number of Customers w/ $100K+ of Revenue1 Net Revenue Retention2 115% Total Company 289 $100K+ + 2% y/y Top 20 Customers 122% 1. Refer to appendix for the definition of customers with trailing 12-month subscription revenue greater than $100,000. 2. Refer to appendix for t
Slide 15: High Growth Revenue & Attractive Margin Profile
HIGH GROWTH REVENUE & ATTRACTIVE MARGIN PROFILE Revenue1 Adj. EBITDA & Margin1,2 41% 86% CAGR CAGR 47% 44% 44% 31% 23% 11% 3 3 1. Fiscal Year ended March 31. 2. Refer to appendix for the definition and non-GAAP reconciliation of Adjusted EBITDA and Adjusted EBITDA margin. Investor Presentation — Febr
Slide 16: Founder-Led, Mission Driven
FOUNDER-LED, MISSION DRIVEN 863 Jeff Tangney CEO & Co-Founder Dr. Nate Gross CSO & Co-Founder Anna Bryson CFO EMPLOYEES1 Lisa Greenbaum CCO Jey Balachandran CTO Craig Overpeck SVP Commercial Operations 1/3+ IN R&D1 Ben Greenberg Joel Davis Jennifer Chaloemtiarana SVP Commercial Products SVP Product
Slide 17: Company Highlights
COMPANY HIGHLIGHTS 1 Leading digital platform for doctors 2 Powerful network effects 3 Sustainable high-growth revenue & profitability 4 Veteran vertical team 5 Massive near-term market opportunity fueled by shift to digital Investor Presentation — February, 2024
Slide 18: Appendix: Non-GAAP Financial Measures
APPENDIX: NON-GAAP FINANCIAL MEASURES To supplement our consolidated financial statements, which are prepared and presented in accordance with accounting principles generally accepted in the United States ("GAAP"), the Company uses the following non-GAAP measures of financial performance: Non-GAAP g
Slide 19: Appendix: Adjusted EBITDA & Margin Non-GAAP Reconciliation
APPENDIX: ADJUSTED EBITDA & MARGIN NON-GAAP RECONCILIATION Year Ended March 31, TTM 2019 2020 2021 2022 2023 Q3 FY24 (in thousands) (in thousands) Net Income $7,833 $29,737 $50,210 $154,783 $112,818 $137,632 Adjustments: Acquisition and other related expenses ‒ 1,158 496 254 30 ‒ Stock-based compens