Dear SaaStr: Why is “The LinkedIn for Doctors” Worth $10 Billion?

Q: How has Doximity, the “LinkedIn for doctors” reached a $10B valuation?

Answer: very high revenue growth at $200m+ ARR:

Doximity’s revenue multiple is quite high, at 40x ARR. Very high.

But so is its growth and NRR. With 78% annual growth even at $200m+ ARR, and 153% NRR … plus being highly profitable … it’s a top decile SaaS and Cloud stock.

And the top decile is trading at very high multiples today:

Published on July 1, 2021

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