Doximity, Inc. · NYSE:DOCS
Doximity — Investor Presentation (2023)
18 slides from Doximity's investor presentation, Nov 2, 2023
Slide 1: Investor Presentation
INVESTOR PRESENTATION Summer/Fall 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 22% Top Hospitals of all U.S. and Health Systems Subscription Physicians1 Top Pharmaceutical Revenue Growth5 Manufacturers3 >525K 118% 45% 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 Productivity Proprietary 6 Watch Product Demo
Slide 7: Our Commercial Solutions
OUR COMMERCIAL SOLUTIONS Marketing Hiring 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 on-call sch
Slide 8: Marketing Solutions
MARKETING SOLUTIONS Largest Revenue Driver: Marketing Solutions Health Systems 2 17:1 ROI LexisNexis Leading Network Subscription Pricing Model Pharma >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 9: Land and Expand Sales Motion
LAND AND 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 Lin
Slide 10: 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 Proprietary 10
Slide 11: 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 Staffi
Slide 12: ~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 >50% 20-50% 5-20% <5% No Revenue In Trailing 1
Slide 13: Q1 Key Metrics
Q1 KEY METRICS LAND & EXPAND 1 Number of Customers w/ $100k+ of Revenue Net Revenue Retention2 18% CAGR Subscription-Based 3 TTM Rev Growth 1. Refer to appendix for the definition of customers with trailing 12-month subscription revenue greater than $100,000. 2. Refer to appendix for the definition of
Slide 14: High Growth Revenue & Attractive Margin Profile
HIGH GROWTH REVENUE & ATTRACTIVE MARGIN PROFILE Revenue1 Adj. EBITDA & Margin1,2 44% 40% CAGR 82% 44% CAGR 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. 3. FY2024 forecasts are base
Slide 15: Founder-Led, Mission Driven
FOUNDER-LED, MISSION DRIVEN Jeff Tangney Shari Buck Dr. Nate Gross 976 CEO & Co-Founder Co-Founder CSO & Co-Founder EMPLOYEES1 Anna Bryson Jey Balachandran Paul Jorgensen Craig Overpeck CFO CTO CRO SVP Commercial Operations 1/3+ IN R&D1 Ben Greenberg Joel Davis Jennifer Chaloemtiarana SVP Commercial
Slide 16: 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 Proprietary 16
Slide 17: 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 18: Appendix: Adjusted EBITDA & Margin Non-GAAP Reconciliation
APPENDIX: ADJUSTED EBITDA & MARGIN NON-GAAP RECONCILIATION Year Ended March 31, TTM 2019 2020 2021 2022 2023 Q1 FY24 (in thousands) (in thousands) Net Income $7,833 $29,737 $50,210 $154,783 $112,818 $118,841 Adjustments: Acquisition and other related expenses ‒ 1,158 496 254 30 ‒ Stock-based compens