DOCS INVESTOR NOTICE

Robbins Geller Rudman & Dowd LLP Announces that Doximity, Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit

The law firm of Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Doximity, Inc. (NYSE: DOCS) common stock between February 9, 2022 and April 1, 2024, inclusive (the “Class Period”), have until June 17, 2024 to seek appointment as lead plaintiff of the Doximity class action lawsuit. Captioned Kissler v. Doximity, Inc., No. 24-cv-02281 (N.D. Cal.), the Doximity class action lawsuit charges Doximity and certain of Doximity’s top executives with violations of the Securities Exchange Act of 1934.

If you suffered substantial losses and wish to serve as lead plaintiff of the Doximity class action lawsuit, please provide your information here:

https://www.rgrdlaw.com/cases-doximity-inc-class-action-lawsuit-docs.h ...

You can also contact attorneys J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at [e-mail]. Lead plaintiff motions for the Doximity class action lawsuit must be filed with the court no later than June 17, 2024.

CASE ALLEGATIONS: Doximity operates a digital platform that provides connections between, medical information to, and patient scheduling tools for medical professionals.

The Doximity class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that defendants repeatedly touted Doximity’s business prospects and the sustainability of Doximity’s revenue growth and profitability, while downplaying the impact of competition and tightening macroeconomic conditions on Doximity as well as its reliance on “upselling” products and services (such as additional advertising) to existing customers to sustain Doximity’s performance and future growth.

The Doximity class action lawsuit further alleges that on August 8, 2023, Doximity disclosed that it expected fiscal year 2024 revenue of between $452 million and $468 million (down from prior guidance of between $500 million and $506 million, and representing year-over-year revenue growth of between 7.9% and 11.7%), and adjusted EBITDA of between $193 million and $209 million (down from prior guidance of between $216 million and $222 million, and representing year-over-year adjusted EBITDA growth of between 4.9% and 13.6%). On this news, the price of Doximity common stock fell nearly 23%, according to the complaint.