doximitya networking platform for healthcare professionals, reported revenue of $93.7 million for the fourth quarter ended March 31, compared to $66.7 million for the same quarter last year.
The company’s net income was $36.7 million compared to $21.5 million in the prior year. Doximity also reported results for its 2022 fiscal year, grossing $343.5 million compared to $206.9 million for the 2021 fiscal year ended March 31, 2021. It reported net income for the full year of $154.8 million, compared to $50.2 million.
For the upcoming quarter ending June 30, Doximity announced revenue guidance of between $88.6 million and $89.6 million. For the full year ended March 31, 2023, revenue is forecast to be between $454 million and $458 million.
During a conference call on the results, Jeff Tangney, Doximity’s co-founder and CEO, said the company surpassed two million registered members during the quarter and saw record high usage of its fax, e-signature and telehealth products. The company also announced and completed the acquisition of physician scheduling and messaging app Amion in the fourth quarter.
“By expanding our workflow suite, we have successfully completed our acquisition of Amion.com, which supports 200,000 US physician plans. Combined with our telemedicine tools, used by over 350,000 individual physicians, NPs and PAs in the last quarter, we believe we will become the physician cloud in the United States, a kind of Bloomberg for physicians,” he said.
Prescription digital therapeutics company Pear Therapeutics reported revenue of $2.7 million in the first quarter, compared to $376,000 in the first quarter of 2021 and $1.3 million in the fourth quarter.
It posted a Net loss of $23.86 million compared to $24.39 million for the same quarter last year. Pear reported more than 9,200 prescriptions for its products in the first quarter and is forecasting 50,000 to 60,000 prescriptions for the full year.
“Our momentum in 2021 continued in 2022 with strong revenue and prescription growth in the first quarter,” said President and CEO Dr. Corey McCann in a statement.
“We continue to expand the reach of our products with advancements such as the availability of reSET and reSET-O in Spanish, expansion into new states like Oklahoma and Michigan, and recognition by CMS of an HCPCS code that marks a key milestone for reimbursement of represents PDTs. We continue to enhance our value proposition to payers with 12- and 24-month health economics data demonstrating durability of clinical outcomes and long-term reduction in health resource utilization.”