#1doximity INVESTOR PRESENTATION Spring/Summer 2022 Home c Q 17 A Novel Variant of Interest of SARS-CoV-2 with Multiple Spike Mutations Is Identified from Travel Surveillance in Africa m 7min read At the end of 2020, the Network for Genomic Surveillance in South Africa (NGS-SA) detected a SARS-CoV-2 ...more 32 Comments Elizabeth Hernandez, MD Internal Medicine Add a comment Your colleague was published. John Lee, MD Apr 28 9:41 Key points:Preprint paper highlighting a SARS- CoV-2 variant detected in 3 passengers ...more 27 Reply medRxiv Apr 7 -Atrial Fibrillation and Outcom Q S Search Diater DE Fax M d all#2LEGAL 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 and operating metrics, capital expenditures, plans for future operations, competitive position, technological capabilities, and strategic relationships, general business conditions and the assumptions underlying those statements. Any forward-looking statements contained in this presentation and associated commentary are based upon Doximity's historical performance and its plans, estimates and expectations as of the dates noted in this presentation, and are not a representation that such plans, estimates, or expectations have been or will be achieved. These forward-looking statements represent Doximity's expectations as of the dates noted in this presentation. You should not put undue reliance on any forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. Subsequent events may cause these expectations to change, and Doximity disclaims any obligation to update the forward-looking statements in the future. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially, including, but not limited to, those related to our business and financial performance, our ability to attract and retain customers, our ability to develop new products and services and enhance existing products and services, our ability to respond rapidly to emerging technology trends, our ability to execute on our business strategy, our ability to compete effectively and our ability to manage growth, and the impact of the worldwide COVID-19 pandemic. Additional risks and uncertainties that could affect Doximity's financial results are included under the captions, "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the company's filings with the Securities and Exchange Commission on Form 10-K and subsequent Form 10-Qs. These materials are available on our investor relations website at investors.doximity.com under the Financials section and on the SEC's website at sec.gov. Further information on potential risks that could affect actual results will be included in other filings Doximity makes with the SEC from time to time. In addition to financial information presented in accordance with U.S. generally accepted accounting principles ("GAAP"), this presentation and associated commentary may include certain non-GAAP financial measures (including on a forward-looking basis) such as Adjusted EBITDA and Free Cash Flow. Definitions and reconciliations of non-GAAP measures to their most directly comparable GAAP counterparts are available in our most recent Form 10-K or 10-Q on the company's investor relations website at investors.doximity.com. doximity Proprietary 2#3THE DIGITAL PLATFORM FOR DOCTORS Leading Network Blue Chip Clients 80%+ 20/20 66% Top Hospitals Revenue Growth5 of all U.S. Physicians¹ and Health Systems Top Pharmaceutical Manufacturers³ Growth and Profit 350K+ 157% 44% Net Revenue Retention Rate 4,5 Adj. EBITDA Margin 5.6 Telehealth Unique Active Providers² doximity 5:47 d The Lancet Respiratory Medicine 1d B Atypical Presentation of COVID-19 in a 34 Year- Old Man 22min read-CME The pandemic of severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) challenges 15 Comments Natalia Birgisson, MD Resident Physician 0 61 I was struck by the multiple possible etiologies explaining his course, and what a reminder more 34-Reply u Add a comment more Anupam Jena, MD your colleague was published 1d Incremental Health Care Burden of Treatment-Resistant Depression Among Commercial, Medicaid, and Medicare.... Psychiatric services (Washington, DC.) Q Home 1. As of 3/31/22. 2. For fiscal quarter ending 3/31/22. 3. Top 20 Pharmaceutical Manufacturers based on data from FiercePharma, Top 20 hospitals based on U.S. News & World Report's Best Hospitals 2021-2022 Rankings. 4. Net revenue retention rate (NRR) is calculated by taking the TTM subscription-based revenue from our customers that had revenue in the prior TTM period and dividing by the total subscription-based revenue for the prior TTM period. 5. For the trailing twelve month (TTM) period ending 3/31/22. 6. Adjusted EBITDA is defined as net income before interest, income taxes, depreciation and amortization, and as further adjusted for acquisition and other related expenses, stock-based compensation expense, and other (income) expense, net. Adjusted EBITDA Margin represents Adjusted EBITDA as a % of revenue. Refer to appendix for the Adjusted EBITDA non-GAAP reconciliation. Proprietary 3#4GLARING DAY-TO-DAY INEFFICIENCIES 80% of US HC documents sent via snail mail and fax1¹ 78% of physicians report burnout, with health IT as one of least satisfying factors² doximity 1. Keeping it Together Issue Brief on Exchanging Medical Documentation CAQH Nov 2020. Does not include email. 2. 2018 Survey of America's Physicians Practice Patterns and Perspectives, The Physicians Foundation by Merritt Hawkins, September 2018. # Cada CALLERS gad: C START Proprietary#5BRINGING TECH TO MEDICINE Inspired by enterprise tech Networking News eSignatures Collaboration Communication doximity Linked in Google DocuSign slack Note: These are not customers or partners, these are illustrative examples of premier enterprise tech solutions in their respective markets. 1. As of March 31, 2022. zoom d 4.8 out of 5, 120K Ratings & Reviews¹ "This app has changed my professional life." Purpose-built for healthcare Professional Network Professional Profiles, Search, Colleague Connectivity, Career Management Newsfeed Medical Articles & News, Peer Updates, Clinical Discussions, CME Credit, Sponsored Content Productivity Telehealth (Dialer Voice & Dialer Video), Digital Fax, Digital eSignature, Secure Messaging Proprietary 5#6PURPOSE BUILT FOR HEALTHCARE Professional Network 9:41 Fatima Cody Stanford, MD MPH, MPA, FAAP, FACP, FAHA, FTOS Medicine/Pediatrics Boston, MA Obesity Medicine & Nutrition Physician- Massachusetts General Hospital; Instructor of Medicine and Pediatrics- Harvard Medical School Add Colleague 150+ Colleagues doximity.com Contact Info MGH Weight Center 50 Staniford St, 4th Floor Boston, MA 02114 PHONE (588) 764-0021 ill FAX (558) 246-9753 2000890013 doximity Send Message View All Clinical Expertise Health promotion, Health status disparities, Obesity and related disorderer Weight loss 9:41 Your classmate Paul Smith commented MedRxiv Apr 7 mediy Newsfeed A Novel Variant of Interest of SARS-CoV-2 with Multiple Spike Mutations is Identified from Travel Surveillance in Africa 7min read At the end of 2020, the Network for Genomic Surveillance in South Africa (NGS-SA) detec...more 33 Comments 17 Paul Smith, MD Internal Medicine Key Points: This variant of interest (VOI) has 31 amino acid substitutions and...more 13 Reply Home Add a comment Search Dialer Fax/Msg Careers Watch Product Demo < 9:41 500 Main Street, San Francisco, CA doximity Anita Patel, MD To: Amy Landers Fax: 415-555-0304 Subject: Patient Records Request cung Reply Dr. Landers, attached is Mr. Donahue's signed records request. He you contact you for follow-up after his consultation today. Productivity Date: 2/10/2021 Pages: 3 1/3 P: 415-555-2750 F: 650-555-9341 yaranded, pesty and try to day ons in ingai sa Forward 0.0 Edit 9:41 (312) 555-4567 + add people 2 flip U mute ETA interpreter stop charts 1:10 end backdrop Proprietary 6#7OUR COMMERCIAL SOLUTIONS 9:41 CH Marketing d Children's Hospital of Philadelphia suggested Pediatric Immunotherapy: What's Next for CAR-T Therapy Children's Hospital of Philadelp... Like Comment ج ا... 2 Sponsored Share Educate on Latest News & Treatments Relevance and personalization drive Rx's & Referrals doximity 1. Based on "Best in KLAS" Telehealth Video Conferencing Platform 2022 d pejta, Pesources My 2 Hiring Co Redes Job CMF Careers CAREER NAVIGATOR Physicians Compensation and Housing Costs by County & Specialty & Me Home 000 Internal Medicine in New York County, NY $207,219 $848,700 12.9 Uncover Passive Candidates Find specialized talent Telehealth Haas (312) 555-4567 + add people. O flip U mute stop 1:10 backdrop charts interpreter Reduce No-Shows & Leakage #1 "Best in KLAS" Telehealth Video Conferencing Proprietary 7#8MARKETING SOLUTIONS doximity Largest Revenue Driver: Marketing Solutions Leading Network >73% of healthcare spend is decided by Doctors¹ O 9:41 CH d Children's Hospital of Philadelphia suggested Pediatric Immunotherapy: What's Next for CAR-T Therapy Children's Hospital of Philadelp... Like Comment Sponsored Share Subscription Pricing Model 1. Audience (e.g. specialty) 2. Number of audience members 3. Type and number of modules Health Systems 2 13:1 ROI² LexisNexis Pharma 3 10:1 ROI³ IQVIA 1. Center for Medicare & Medicaid Services, including categories of hospital care, physician & clinical services, retail prescription drugs, nursing care facilities & continuing care retirement communities, home health care, & durable medical equipment. 2. Our ROI studies are conducted using data from third party provider LexisNexis Risk Solutions for our health system customers. Median ROI as measured by third party claims data analysis of shared patient lift from new referring providers. As of March 2022. 3. Actual results vary based on therapy area, product price, product maturity, and the number of months over which the ROI was measured. As of March 2022. Proprietary 8#9~415 RX BRANDS WITH $100M+ IN U.S. SALES Estimated Doximity Share of HCP Marketing Budgets at Customers¹ Note: Each box represents one brand with $100M+ in U.S. sales doximity >50% 1. As of March 31, 2022 20-50% 5-20% <5% No Revenue In Trailing 12 Months Est. Share of Total HCP Marketing Budgets¹ O <5% Current Penetration Potential Expansion Proprietary 9#10LAND AND EXPAND SALES MOTION Brand 01 doximity Land Initial Brands or Service Lines Pharmaceutical Manufacturer Service Line 01 3 Expand Number & Type of Modules Utilized Health System Interactivity Awareness Awareness Pharmaceutical Manufacturer Peer Peer Awareness Awareness Interactivity Peer 2 Expand to Add'l Brands or Service Lines Brand 07 Brand 04 Brand 01 Brand 05 Brand 02 Brand 06 Brand 03 Pharmaceutical Manufacturer Interactivity Health System Awareness Awareness Service Line 07 Service Line 04 Service Line 01 Awareness Awareness Interactivity Service Line 08 Service Line 05 Service Line 02 Health System Interactivity Interactivity Interactivity Service Line 06 Service Line 03 Proprietary 10#11CATEGORIES OF MODULES doximity 9:41 Massachusetts General Hospital suggested New ALS Center Aims to Change the Field Mass General is spearheading a revolutionary new approach to amyotrophic lateral sclerosis (ALS) 25 32 Comments 1 Op-Med Home Add a comment Search Dialer Sponsored. 13 Fax/Msg B Careers Awareness Build brand equity and communicate key messages < 8:38 7 Sponsored Doxiera This is important safety info with a link Sponsored by PharmaCo View head-to-head trial data for Doxlera® (doxilimumab) In a 52-week study of patients with chronic obstructive pulmonary disease (COPD), once daily Doxlera (doxilimumab) inhalation mist significantly reduced the rate of moderate-to- severe COPD exacerbations (flare-ups) and delayed time to first exacerbation vs nosazone.¹ Significant Reduction in Rate of COPD Exacerbations With DoxleraⓇ Annual Rate of COPD Exacerbations n Home 1.26 all Contact your local rep for more info: Daniel Jacobson Houston, TX Q Search 35% Reduction 0.82 PI G Dialer: Fax/Msg Interactivity Replace face-to-face interactions with digital alternatives 9:41 AM Hello from Marsha Lawrence, MD Lawrence Miller, MD To: me 100% Dear Dr. Miller, I would like to introduce myself as a cerebrovascular neurosurgeon here at University Medical Center. If our team can help one of your patients, please let me know. I specialize in the surgical treatment of cerebral aneurysms, carotid artery stenosis, intracerebral hemorr- hage, arteriovenous malformations and dural arteriovenous fistulas. Sincerely, Marsha Lawrence, MD Chair, Neurosurgery Medical Director, Neurosciences Institute at University Medical Center Inboxx 2/24/17, 11:02 AM OGGV We're ring a new surgic approach to correct visible defects in the skull after prior injury or previous craniotomy with minimized risk to the patient. The new technique, called pericranial-onlay cranioplasty, addresses most complex challenges in cranial res- toration by navigating the structures of the skin, subcutaneous layers, skull and dura to restore any calvarial bone by attaching either the original piece of the skull or a custom-contoured implant. Accept Invitation I would love to connect on Doximity. If you're interested in learning more about this new cranioplasty technique or if you would like to discuss a patient, please don't hesitate to call me on my mobile at (346) 245-3945. Peer Connect and build professional relationships Proprietary 11#12LARGE & GROWING TOTAL ADDRESSABLE MARKET doximity $7.3B U.S. Pharmaceutical Marketing to Medical Professionals¹ + $6.9B U.S. Health System Marketing and Staffing² + $4.3B U.S. Software Telehealth³ $18.5B 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 Staffing TAM represents Hospital Marketing Spend, Revenue Opportunity from Locum Tenens solutions and Permanent Staffing solutions. Source: BIA Advisory Services, GVR, Kaiser Family Foundation and the AAPPR In-House Physician and Provider Recruitment benchmarking 3. Telehealth TAM represents revenue opportunity from Telehealth sales to care locations and individuals. Source: IBISWorld Total Proprietary 12#13POWERFUL LAND & EXPAND BUSINESS MODEL LAND Number of Customers w/ $100k+ of Revenue¹ 37% CAGR 200 141 il Q4'21 doximity Q4'20 265 Q4'22 36% 130% Q4'20 EXPAND Net Revenue Retention² 6,5% 153% Q4'21 -66% TTM Rev Growth³ 157% Q4'22 1. Subscription based customers with at least $100k in revenue on a trailing twelve month basis. A customer is defined as a pharmaceutical manufacturer, health system, etc. This cohort of customers represented 88% of our total revenue in Q4'22. 2. Net revenue retention rate is calculated by taking the TTM subscription-based revenue from our customers that had revenue in the prior TTM period and dividing that by the total subscription based revenue for the prior TTM period. 3. Subscription based trailing-twelve month revenue growth rate. Proprietary 13#14HIGH GROWTH REVENUE & ATTRACTIVE MARGIN PROFILE doximity $86M FY2019 59% CAGR Revenue¹ $116M FY2020 $207M FY2021 $344M FY2022 $10M 11% FY2019 Adj. EBITDA & Margin² 147% CAGR $27M 23% FY2020 $65M 31% FY2021 1. Fiscal Year ended March 31. 2. We calculate Adjusted EBITDA, for a particular period, as net income before interest, income taxes, depreciation, and amortization, and as further adjusted for acquisition and other related expenses, stock-based compensation expense, and other (income) expense, net. We calculate Adjusted EBITDA Margin as Adjusted EBITDA divided by Revenue. Refer to appendix for the Adjusted EBITDA non-GAAP reconciliation. $150M 44% Adj. Margin² FY2022 Proprietary 14#15FOUNDER-LED, MISSION DRIVEN Jeff Tangney CEO & Co-Founder epocrates Paul Jorgensen CRO one medical doximity Shari Buck Co-Founder epocrates Jey Balachandran CTO m dialog Dr. Nate Gross CSO & Co-Founder ROCK HEAL+H Joel Davis SVP Product Deloitte. Anna Bryson CFO Y Royal Bank of Scotland Jennifer Chaloemtiarana General Counsel Castlight 887 EMPLOYEESALA 191 1/3+ IN R&D¹ As of March 31, 2022. Proprietary 84X 15#16COMPANY HIGHLIGHTS 1 Leading digital platform for doctors 2 Powerful network effects 3 Sustainable high-growth revenue & profitability 4 5 Veteran vertical team Massive near-term market opportunity fueled by shift to digital doximity Proprietary 16#17APPENDIX: NON-GAAP FINANCIAL MEASURES To supplement our condensed 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 gross profit, non-GAAP gross margin, non-GAAP operating income, non-GAAP net income, non-GAAP net income margin, and non-GAAP basic and diluted net income per common share: We exclude the effect of stock-based compensation expense, amortization of acquired intangible assets, and expenses associated with acquisitions from non-GAAP gross profit, non-GAAP gross margin and non-GAAP operating income. Non-GAAP net income and non-GAAP net income margin are further adjusted for estimated income tax on such adjustments. We calculate income taxes on the adjustments by applying an estimated annual effective tax rate to the adjustments. Non-GAAP basic and diluted net income per common share is non-GAAP net income attributable to common stockholders divided by the weighted average number of shares. For both basic and diluted non-GAAP net income per share, the weighted average shares we use in computing non-GAAP net income per share is equal to our GAAP weighted average shares. Non-GAAP gross margin represents non-GAAP gross profit as a percentage of revenue and non-GAAP net income margin represents non-GAAP net income as a percentage of revenue. Adjusted EBITDA and adjusted EBITDA margin: We define adjusted EBITDA as net income before interest, income taxes, depreciation, and amortization, and as further adjusted for acquisition and other related expenses, stock-based compensation expense, and other income, net. Adjusted EBITDA margin represents adjusted EBITDA as a percentage of revenue. Free cash flow: We calculate free cash flow as cash flow from operating activities less purchases of property and equipment and capitalized internal-use software development cost. We use these non-GAAP financial measures internally for financial and operational decision-making purposes and as a means to evaluate period-to-period comparisons. Non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP financial measures and should be read only in conjunction with our condensed consolidated financial statements prepared in accordance with GAAP. Our presentation of non-GAAP financial measures may not be comparable to similar measures used by other companies. We encourage investors to carefully consider our results under GAAP, as well as our supplemental non-GAAP information and the reconciliation between these presentations, to more fully understand our business. Please see the tables included at the end of this release for the reconciliation of GAAP to non-GAAP results. Key Business Metrics Net revenue retention rate: We calculate net revenue retention rate by taking the trailing 12-month ("TTM") subscription-based revenue from our customers that had revenue in the prior TTM period and dividing that by the total subscription-based revenue for the prior TTM period. Our net revenue retention rate compares our subscription revenue from the same set of customers across comparable periods, and reflects customer renewals, expansion, contraction, and churn. Customers with trailing 12-month subscription revenue greater than $100,000 and $1 million: We calculate the number of customers with TTM product revenue greater than $100,000 and $1 million by counting the number of customers that contributed more than $100,000 and $1 million in subscription revenue in the TTM period. The number of customers with TTM subscription-based revenue of at least $100,000 and $1 million is a key indicator of the scale of our business. Our customer count is subject to adjustments for acquisitions, consolidations, spin-offs, and other market activity. doximity Proprietary 17#18APPENDIX: ADJUSTED EBITDA & MARGIN NON-GAAP RECONCILIATION (1) Net Income Adjustments Acquisition and other related expenses Stock-based compensation Depreciation and amortization Income tax expense (benefit) Other (income) expense, net Adjusted EBITDA Revenue Adjusted EBITDA Margin doximity 2019 $7,833 2,343 551 98 (1,010) $9,815 $85,695 11% Year Ended March 31, 2020 (in thousands) $29,737 1,158 2,353 900 (6,223) (1,351) $26,574 $116,388 23% 2021 $50,210 496 7,252 3,702 7,559 (4,466) $64,753 $206,897 31% 2022 $ 154,783 254 31,442 5,040 (40,778) (469) $150,272 $343,548 44% 1. Adjusted EBITDA is defined as net income before interest, income taxes, depreciation and amortization, and as further adjusted for acquisition and other related expenses, stock-based compensation expense, and other (income) expense, net.Adjusted EBITDA Margin represents Adjusted EBITDA as a % of in-period revenue. 18