Doximity IPO Presentation Deck

APPENDIX: ADJUSTED EBITDA & MARGIN NON-GAAP RECONCILIATION¹ doximity Net Income Adjustments: Acquisition and other related expenses Stock-based compensation Depreciation and amortization Change in fair value of contingent earn-out consideration liability Income tax expense (benefit) Other income, net Adjusted EBITDA Revenue Adjusted EBITDA Margin Year Ended March 31, 2021 2022 (in thousands) $50,210 $154,783 496 7,252 3,702 254 31,442 5,040 7,559 (40,778) (4,466) (469) $64,753 $150,272 $343,548 $206,897 31% 44% 2023 $112,818 30 47,834 10,283 728 20,338 (8,048) $183,983 $419,052 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, change in fair value of contingent earn-out consideration liability, and other (income) expense, net. Adjusted EBITDA Margin represents Adjusted EBITDA as a % of in-period revenue. 18

View entire presentation