Doximity, Inc.(DOCS)Earnings, Financials & Key Ratios

DOCS•NYSE

$25.69

$5.17B mkt cap·23.1× P/E·Price updated May 6, 2026

SectorHealthcare IndustryHealthcare IT Sub-IndustryHealthcare Communications, Workforce and Supply Chain

AboutDoximity, Inc. operates a cloud-based digital platform for medical professionals in the United States. The company's platform provides its members with tools built for medical professionals, enabling them to collaborate with their colleagues, coordinate patient care, conduct virtual patient visits, stay up to date with the latest medical news and research, and manage their careers. It primarily serves pharmaceutical manufacturers and healthcare systems. The company was formerly known as 3MD Communications, Inc. and changed its name to Doximity, Inc. in June 2010. Doximity, Inc. was incorporated in 2010 and is headquartered in San Francisco, California.Show more

Revenue$570M+20.0%
EBITDA$238M+36.9%
Net Income$223M+51.2%
EPS (Diluted)1.11+54.2%
Gross Margin90.2%+1.0%
EBITDA Margin41.81%+14.1%
Operating Margin39.94%+15.9%
Net Margin39.13%+26.0%
ROE22.5%+42.3%
ROIC20.05%+34.0%
Debt/Equity0.01-29.0%

Technical→

DOCS Key Insights

Doximity, Inc. (DOCS) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

✓Company is almost debt free
✓Strong 5Y profit CAGR of 49.6%
✓Strong Piotroski F-Score: 9/9
✓FCF machine: 46.8% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 37.4%

✗Weaknesses

✗Weak momentum: RS Rating 10 (bottom 10%)
✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

DOCS Price & Volume

Doximity, Inc. (DOCS) stock price & volume — 10-year historical chart

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DOCS Growth Metrics

Doximity, Inc. (DOCS) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-

5 Years37.42%

3 Years18.41%

TTM15.92%

Profit CAGR

10 Years-

5 Years49.65%

3 Years12.97%

TTM18.9%

EPS CAGR

10 Years-

5 Years79.48%

3 Years16.61%

TTM20%

Return on Capital

10 Years24.04%

5 Years24.09%

3 Years17.55%

Last Year22.33%

DOCS Recent Earnings

Doximity, Inc. (DOCS) EPS & revenue vs analyst estimates — last 4 quarters

Full history →

●Beat EPS 12/12 qtrs (100%)●Beat Revenue 11/12 qtrs (92%)

Q1 2026Latest

Feb 5, 2026

EPS

$0.46

Est $0.44

+4.5%

Revenue

$185M

Est $182M

+1.9%

Q4 2025

Nov 6, 2025

EPS

$0.45

Est $0.38

+18.8%

Revenue

$169M

Est $158M

+6.7%

Q3 2025

Aug 7, 2025

EPS

$0.36

Est $0.30

+19.4%

Revenue

$146M

Est $140M

+4.6%

Q2 2025

May 15, 2025

EPS

$0.38

Est $0.27

+39.9%

Revenue

$138M

Est $134M

+3.4%

Quarter	Date	EPS (Act vs Est)	Revenue (Act vs Est)
Q1 2026Latest	Feb 5, 2026	$0.46vs $0.44+4.5%	$185Mvs $182M+1.9%
Q4 2025	Nov 6, 2025	$0.45vs $0.38+18.8%	$169Mvs $158M+6.7%
Q3 2025	Aug 7, 2025	$0.36vs $0.30+19.4%	$146Mvs $140M+4.6%
Q2 2025	May 15, 2025	$0.38vs $0.27+39.9%	$138Mvs $134M+3.4%

Based on last 12 quarters of dataView full earnings history →

Company	Market Cap	Stock Price	P/E Ratio (TTM)	Revenue Growth 1Y	Net Margin	Return on Equity (ROE)	Debt / Equity
HIMSHims & Hers Health, Inc.Direct Competitor	6.94B	26.88	52.71	59%	5.47%	23.73%	2.07
WELLWelltower Inc.Direct Competitor	151.66B	216.47	155.73	35.82%	12.31%	3.49%	0.49
NVCRNovoCure LimitedDirect Competitor	1.88B	16.50	-13.52	8.28%	-25.66%	-50.82%	0.85
VEEVVeeva Systems Inc.Product Competitor	27.2B	167.29	30.75	16.34%	28.44%	13.41%	0.01
INVAInnoviva, Inc.Product Competitor	1.91B	22.52	6.82	18.52%	118.91%	46.47%	0.23
PGNYProgyny, Inc.Product Competitor	1.53B	18.70	28.77	10.4%	4.54%	11.37%	0.05
TDOCTeladoc Health, Inc.Product Competitor	1.23B	6.80	-5.96	-1.54%	-6.81%	-12.37%	0.75
AMWLAmerican Well CorporationProduct Competitor	119.11M	7.15	-1.20	-1.98%	-48.16%	-33.48%	0.02

Compare DOCS vs Peers

Doximity, Inc. (DOCS) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs HIMS

Most directly comparable listed peer for DOCS.

Scale Benchmark

vs WELL

Larger-name benchmark to compare DOCS against a more recognizable public peer.

Peer Set

Compare Top 5

vs HIMS, WELL, NVCR, VEEV

DOCS Income Statement

Doximity, Inc. (DOCS) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily

Line item	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
Sales/Revenue	85.69M	116.39M	206.9M	343.55M	419.05M	475.42M	570.4M	637.78M
Revenue Growth %	-	35.82%	77.76%	66.05%	21.98%	13.45%	19.98%	15.92%
Cost of Goods Sold	10.89M	14.9M	31.2M	39.79M	53.49M	50.67M	55.87M	65.39M
COGS % of Revenue	12.71%	12.8%	15.08%	11.58%	12.76%	10.66%	9.8%	-
Gross Profit	74.81M▲ 0%	101.49M▲ 35.7%	175.7M▲ 73.1%	303.76M▲ 72.9%	365.56M▲ 20.3%	424.75M▲ 16.2%	514.52M▲ 21.1%	572.39M▲ 0%
Gross Margin %	87.29%	87.2%	84.92%	88.42%	87.24%	89.34%	90.2%	89.75%
Gross Profit Growth %	-	35.67%	73.12%	72.89%	20.35%	16.19%	21.14%	-
Operating Expenses	67.89M	79.33M	122.4M	190.22M	240.45M	260.88M	286.73M	333.62M
OpEx % of Revenue	79.22%	68.16%	59.16%	55.37%	57.38%	54.87%	50.27%	-
Selling, General & Admin	40.39M	46.89M	78.53M	127.88M	160.27M	170.96M	191.38M	217.22M
SG&A % of Revenue	47.13%	40.29%	37.95%	37.22%	38.25%	35.96%	33.55%	-
Research & Development	27.5M	32.44M	43.87M	62.35M	80.19M	81.98M	93.04M	116.4M
R&D % of Revenue	32.09%	27.87%	21.21%	18.15%	19.14%	17.24%	16.31%	-
Other Operating Expenses	0	0	0	0	0	7.94M	2.3M	0
Operating Income	6.92M▲ 0%	22.16M▲ 220.2%	53.3M▲ 140.5%	113.54M▲ 113.0%	125.11M▲ 10.2%	163.88M▲ 31.0%	227.8M▲ 39.0%	238.77M▲ 0%
Operating Margin %	8.08%	19.04%	25.76%	33.05%	29.85%	34.47%	39.94%	37.44%
Operating Income Growth %	-	220.23%	140.5%	113%	10.19%	30.99%	39.01%	-
EBITDA	7.47M	23.06M	57.01M	118.58M	135.39M	174.14M	238.46M	249.57M
EBITDA Margin %	8.72%	19.82%	27.55%	34.52%	32.31%	36.63%	41.81%	39.13%
EBITDA Growth %	-	208.66%	147.17%	108.01%	14.18%	28.62%	36.93%	7.87%
D&A (Non-Cash Add-back)	551K	900K	3.7M	5.04M	10.28M	10.27M	10.66M	10.79M
EBIT	6.92M	22.16M	53.3M	113.54M	125.11M	171.81M	230.1M	185.77M
Net Interest Income	1.07M	1.46M	301K	2.15M	9.29M	21.66M	35.85M	28.99M
Interest Income	1.07M	1.46M	301K	2.15M	9.29M	21.66M	35.85M	28.99M
Interest Expense	0	0	0	0	0	0	0	0
Other Income/Expense	1.01M	1.35M	4.47M	469K	8.05M	21.32M	35.77M	37.5M
Pretax Income	7.93M▲ 0%	23.51M▲ 196.5%	57.77M▲ 145.7%	114M▲ 97.3%	133.16M▲ 16.8%	185.2M▲ 39.1%	263.57M▲ 42.3%	276.28M▲ 0%
Pretax Margin %	9.25%	20.2%	27.92%	33.18%	31.78%	38.96%	46.21%	43.32%
Income Tax	98K	-6.22M	7.56M	-40.78M	20.34M	37.62M	40.39M	36.88M
Effective Tax Rate %	1.24%	-26.47%	13.08%	-35.77%	15.27%	20.31%	15.32%	13.35%
Net Income	7.83M▲ 0%	29.74M▲ 279.6%	50.21M▲ 68.8%	154.78M▲ 208.3%	112.82M▼ 27.1%	147.58M▲ 30.8%	223.19M▲ 51.2%	239.4M▲ 0%
Net Margin %	9.14%	25.55%	24.27%	45.05%	26.92%	31.04%	39.13%	37.54%
Net Income Growth %	-	279.64%	68.85%	208.27%	-27.11%	30.81%	51.23%	18.9%
Net Income (Continuing)	7.83M	29.74M	50.21M	154.78M	112.82M	147.58M	223.19M	239.4M
Discontinued Operations	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0
EPS (Diluted)	0.00▲ 0%	0.06▲ 1706.1%	0.12▲ 101.3%	0.70▲ 483.3%	0.53▼ 24.3%	0.72▲ 35.8%	1.11▲ 54.2%	1.20▲ 0%
EPS Growth %	-	-	101.34%	483.33%	-24.29%	35.85%	54.17%	20%
EPS (Basic)	0.00	0.06	0.12	0.81	0.58	0.78	1.19	-
Diluted Shares Outstanding	181.7M	181.7M	178.21M	191.02M	213.43M	205.73M	201.21M	199.22M
Basic Shares Outstanding	181.7M	181.7M	178.21M	163.48M	193.18M	190.17M	186.84M	187.48M
Dividend Payout Ratio	-	-	-	-	-	-	-	-

DOCS Balance Sheet

Doximity, Inc. (DOCS) balance sheet — assets, liabilities & shareholders' equity

Line item	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
Total Current Assets	83.36M	122.97M	209.4M	904.14M	975.45M	912.94M	1.09B	993.45M
Cash & Short-Term Investments	62.33M	86.45M	142.53M	798.11M	841M	762.9M	915.66M	735.13M
Cash Only	33.61M	48.43M	66.39M	112.81M	158.03M	96.78M	209.61M	64.84M
Short-Term Investments	28.73M	38.02M	76.14M	685.3M	682.97M	666.12M	706.05M	670.29M
Accounts Receivable	15.29M	26.16M	50.32M	81.07M	107.05M	101.33M	128.35M	156.59M
Days Sales Outstanding	65.11	82.05	88.77	86.14	93.24	77.8	82.13	79.54
Inventory	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-
Other Current Assets	2.97M	3.41M	5.86M	5.51M	27.41M	48.71M	44.6M	101.74M
Total Non-Current Assets	3.21M	15.95M	42.32M	87.22M	161.44M	166.43M	175.69M	163.57M
Property, Plant & Equipment	1.37M	7.11M	8.94M	9.57M	25.1M	24.65M	22.54M	24.58M
Fixed Asset Turnover	62.60x	16.37x	23.15x	35.88x	16.70x	19.29x	25.30x	27.28x
Goodwill	0	0	18.91M	18.91M	67.94M	67.94M	67.94M	84.97M
Intangible Assets	407K	393K	9.6M	7.91M	31.84M	27.32M	23.07M	37.27M
Long-Term Investments	0	0	0	0	0	0	0	0
Other Non-Current Assets	1.43M	1.35M	2.76M	2.26M	1.65M	1.46M	2.12M	8.1M
Total Assets	86.56M▲ 0%	138.92M▲ 60.5%	251.72M▲ 81.2%	991.36M▲ 293.8%	1.14B▲ 14.7%	1.08B▼ 5.1%	1.26B▲ 17.1%	1.16B▲ 0%
Asset Turnover	0.99x	0.84x	0.82x	0.35x	0.37x	0.44x	0.45x	0.52x
Asset Growth %	-	60.49%	81.2%	293.83%	14.68%	-5.06%	17.13%	40.44%
Total Current Liabilities	37.81M	55.71M	102.04M	111.28M	139.51M	147.25M	156.26M	149.85M
Accounts Payable	938K	1.42M	1.51M	463K	1.27M	2.25M	1.36M	4.79M
Days Payables Outstanding	31.44	34.71	17.73	4.25	8.68	16.23	8.86	17.44
Short-Term Debt	0	0	0	0	0	0	0	2.08M
Deferred Revenue (Current)	0	44.3M	83.27M	84.91M	105.24M	99.14M	114.28M	398.05M
Other Current Liabilities	32.49M	283K	3.55M	4.88M	11.92M	14.77M	12.06M	76.68M
Current Ratio	2.20x	2.21x	2.05x	8.12x	6.99x	6.20x	6.97x	6.97x
Quick Ratio	2.20x	2.21x	2.05x	8.12x	6.99x	6.20x	6.97x	6.97x
Cash Conversion Cycle	-	-	-	-	-	-	-	62.1
Total Non-Current Liabilities	0	82.07M	82.93M	1.48M	31.27M	30.73M	25.43M	27.88M
Long-Term Debt	0	0	0	0	0	0	0	8.61M
Capital Lease Obligations	0	324K	284K	447K	13.88M	12.4M	10.19M	29M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	0	81.46M	82.43M	956K	17.18M	18.12M	14.96M	55.28M
Total Liabilities	37.81M	137.78M	184.98M	112.76M	170.77M	177.98M	181.68M	177.73M
Total Debt	0	2.28M	1.25M	1.09M	15.64M	14.55M	12.4M	10.69M
Net Debt	-33.61M	-46.15M	-65.14M	-111.72M	-142.39M	-82.24M	-197.22M	-54.15M
Debt / Equity	-	2.01x	0.02x	0.00x	0.02x	0.02x	0.01x	0.01x
Debt / EBITDA	-	0.10x	0.02x	0.01x	0.12x	0.08x	0.05x	0.04x
Net Debt / EBITDA	-4.50x	-2.00x	-1.14x	-0.94x	-1.05x	-0.47x	-0.83x	-0.83x
Interest Coverage	-	-	-	-	-	-	-	-
Total Equity	48.5M▲ 0%	1.14M▼ 97.7%	66.74M▲ 5775.3%	878.59M▲ 1216.4%	966.12M▲ 10.0%	901.4M▼ 6.7%	1.08B▲ 20.1%	979.3M▲ 0%
Equity Growth %	-	-97.66%	5775.26%	1216.38%	9.96%	-6.7%	20.11%	41.32%
Book Value per Share	0.27	0.01	0.37	4.60	4.53	4.38	5.38	4.92
Total Shareholders' Equity	48.5M	1.14M	66.74M	878.59M	966.12M	901.4M	1.08B	979.3M
Common Stock	33K	68K	83K	192K	194K	187K	189K	185K
Retained Earnings	-43.62M	-13.89M	36.32M	191.11M	217.85M	79.99M	186.89M	20.97M
Treasury Stock	0	0	0	0	0	0	0	0
Accumulated OCI	0	0	-21K	-15.29M	-14.08M	-2.66M	1.32M	1.4M
Minority Interest	0	0	0	0	0	0	0	0

DOCS Cash Flow Statement

Doximity, Inc. (DOCS) cash flow — operating, investing & free cash flow history

Line item	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
Cash from Operations	15.31M	26.2M	82.97M	126.58M	179.6M	184.1M	273.26M	273.26M
Operating CF Margin %	17.86%	22.51%	40.1%	36.84%	42.86%	38.72%	47.91%	-
Operating CF Growth %	-	71.17%	216.7%	52.55%	41.89%	2.5%	48.44%	135.45%
Net Income	7.83M	29.74M	50.21M	154.78M	112.82M	147.58M	223.19M	239.4M
Depreciation & Amortization	551K	900K	10.59M	5.04M	10.28M	10.27M	10.66M	13.08M
Stock-Based Compensation	2.34M	2.35M	7.25M	31.44M	47.83M	51.08M	72.39M	102.94M
Deferred Taxes	480K	-7.1M	4.99M	-41.25M	13.23M	-8.59M	-11.59M	-13.79M
Other Non-Cash Items	5.2M	6.58M	-95K	16.89M	16.47M	8.29M	2.72M	-54.21M
Working Capital Changes	-1.1M	-6.27M	10.03M	-40.33M	-21.03M	-24.52M	-24.1M	28M
Change in Receivables	2.53M	-12.04M	-20.45M	-31.02M	-26.24M	3.99M	-27.21M	-19.34M
Change in Inventory	-4.07M	-6.93M	1.21M	0	0	0	0	0
Change in Payables	726K	5.06M	-243K	8.66M	-195K	8.33M	-663K	32.82M
Cash from Investing	-9.07M	-13.1M	-70.42M	-640.57M	-59.92M	31.19M	-29.3M	-15.28M
Capital Expenditures	-1.19M	-4.24M	-4.61M	-5.7M	-6.18M	-147K	-6.53M	-3.88M
CapEx % of Revenue	1.39%	3.65%	2.23%	1.66%	1.48%	0.03%	1.14%	-
Acquisitions	1.08M	3.96M	-27.45M	0	-53.5M	0	0	-26.53M
Investments	-	-	-	-	-	-	-	-
Other Investing	-1.08M	-3.96M	-12K	595K	0	-5.65M	0	-1.53M
Cash from Financing	985K	1.72M	5.41M	560.41M	-74.46M	-276.52M	-131.14M	-400.57M
Debt Issued (Net)	0	0	0	0	0	0	0	0
Equity Issued (Net)	0	0	-1000K	1000K	-1000K	-1000K	-1000K	-3M
Dividends Paid	0	0	0	0	0	0	0	0
Share Repurchases	0	0	-2.02M	-2.7M	-85.32M	-280.72M	-120.29M	-24.97M
Other Financing	985K	1.72M	7.43M	9.21M	10.86M	4.19M	-34.15M	-227.34M
Net Change in Cash	7.22M▲ 0%	14.82M▲ 105.2%	17.96M▲ 21.2%	46.42M▲ 158.4%	45.22M▼ 2.6%	-61.24M▼ 235.4%	112.83M▲ 284.2%	-100.43M▲ 0%
Free Cash Flow	14.12M▲ 0%	21.95M▲ 55.5%	78.36M▲ 256.9%	120.88M▲ 54.3%	173.42M▲ 43.5%	178.29M▲ 2.8%	266.74M▲ 49.6%	313.92M▲ 0%
FCF Margin %	16.47%	18.86%	37.88%	35.19%	41.38%	37.5%	46.76%	49.22%
FCF Growth %	-	55.53%	256.93%	54.25%	43.47%	2.81%	49.61%	35.27%
FCF per Share	0.08	0.12	0.44	0.63	0.81	0.87	1.33	1.33
FCF Conversion (FCF/Net Income)	1.95x	0.88x	1.65x	0.82x	1.59x	1.25x	1.22x	1.31x
Interest Paid	0	0	0	0	0	0	0	0
Taxes Paid	4K	1.24M	5.97M	206K	5.23M	51.27M	55.65M	-16.47M

DOCS Key Ratios

Doximity, Inc. (DOCS) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric	2020	2021	2022	2023	2024	2025	TTM
Return on Equity (ROE)	119.83%	147.94%	32.75%	12.23%	15.81%	22.5%	24.45%
Return on Invested Capital (ROIC)	-	2492.35%	22.16%	11.8%	14.96%	20.05%	20.05%
Gross Margin	87.2%	84.92%	88.42%	87.24%	89.34%	90.2%	89.75%
Net Margin	25.55%	24.27%	45.05%	26.92%	31.04%	39.13%	37.54%
Debt / Equity	2.01x	0.02x	0.00x	0.02x	0.02x	0.01x	0.01x
FCF Conversion	0.88x	1.65x	0.82x	1.59x	1.25x	1.22x	1.31x
Revenue Growth	35.82%	77.76%	66.05%	21.98%	13.45%	19.98%	15.92%

DOCS SEC Filings & Documents

Doximity, Inc. (DOCS) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

Feb 5, 2026·SEC

Material company update

Dec 30, 2025·SEC

Material company update

Nov 6, 2025·SEC

10-K Annual Reports

FY 2025

May 20, 2025·SEC

FY 2024

May 23, 2024·SEC

FY 2023

May 26, 2023·SEC

10-Q Quarterly Reports

FY 2026

Feb 5, 2026·SEC

FY 2025

Nov 6, 2025·SEC

FY 2025

Aug 7, 2025·SEC

DOCS Frequently Asked Questions

Doximity, Inc. (DOCS) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Doximity, Inc. (DOCS) reported $637.8M in revenue for fiscal year 2025. This represents a 644% increase from $85.7M in 2019.

Doximity, Inc. (DOCS) grew revenue by 20.0% over the past year. This is strong growth.

Yes, Doximity, Inc. (DOCS) is profitable, generating $239.4M in net income for fiscal year 2025 (39.1% net margin).

Dividend & Returns

Doximity, Inc. (DOCS) has a return on equity (ROE) of 22.5%. This is excellent, indicating efficient use of shareholder capital.

Doximity, Inc. (DOCS) generated $313.9M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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Doximity, Inc. (DOCS) financial analysis — history, returns, DCA and operating performance tools

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Doximity, Inc.(DOCS)Earnings, Financials & Key Ratios

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