Doximity, Inc. (DOCS)
Doximity, Inc. provides a digital platform, hosted in the cloud, specifically designed for healthcare practitioners throughout the United States. This platform delivers a suite of specialized tools, empowering its members to connect with peers, streamline patient treatment, conduct remote consultations, access current medical information and research, and advance their professional careers. Its primary clientele consists of pharmaceutical companies and healthcare organizations. Established in 2010, the entity initially operated as 3MD Communications, Inc. before rebranding to Doximity, Inc. in June of that year. The company's corporate headquarters are situated in San Francisco, California.
Sector: Services-Computer Programming Services
Industry: Medical - Healthcare Information Services
Doximity, Inc.
NYSE:DOCSHealthcare · Medical - Healthcare Information Services
-0.93%$33.08
AH Close$32.90-0.56%vs close
AH Close$32.90-0.56%vs close
Mkt Cap$5.95B
Float123.91M
O/S179.85M
Inst Own71.4%
SI7.3%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$644.86M
Net Income$196.05M
Total Assets$1.12B
Free Cash Flow$317.5M
Debt & Equity
Debt 1%
Equity 99%
Total Debt$10.19M
Total Equity$950.84M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in DOCS's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$1.12B
Liabilities$172.85M
Accounts Receivable$144.78M
Accounts Payable$4.01M
Inventory$0
PP&E (Net)$25.22M
Goodwill$84.97M
Intangible Assets$35.33M
Income Statement
| Period | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2026-03-31 | 2025-03-31 | 2024-03-31 | 2023-03-31 | 2022-03-31 | 2021-03-31 | 2020-03-31 | 2019-03-31 |
| Revenue | $644.86M | $570.4M | $475.42M | $419.05M | $343.55M | $206.9M | $116.39M | $85.69M |
| YoY Growth | 13.1% | 20.0% | 13.5% | 22.0% | 66.0% | 77.8% | 35.8% | - |
| Cost of Revenue | $70.33M | $55.87M | $50.67M | $53.49M | $39.79M | $31.2M | $14.9M | $10.89M |
| Gross Profit | $574.54M | $514.52M | $424.75M | $365.56M | $303.76M | $175.7M | $101.49M | $74.81M |
| Gross Margin | 89.1% | 90.2% | 89.3% | 87.2% | 88.4% | 84.9% | 87.2% | 87.3% |
| Research and Development | $130.7M | $93.04M | $81.98M | $80.19M | $62.35M | $43.87M | $32.44M | $27.5M |
| Selling, General, and Administrative | $228.91M | $191.38M | $170.96M | $160.27M | $127.88M | $78.53M | $46.89M | $40.39M |
| Other | $0 | $2.3M | $7.94M | $0 | $0 | $0 | $0 | $0 |
| Total Operating Expenses | $359.62M | $286.73M | $260.88M | $240.45M | $190.22M | $122.4M | $79.33M | $67.89M |
| Operating Income (EBIT) | $214.92M | $227.8M | $163.88M | $125.11M | $113.54M | $53.3M | $22.16M | $6.92M |
| Operating Margin | 33.3% | 39.9% | 34.5% | 29.9% | 33.0% | 25.8% | 19.0% | 8.1% |
| Interest Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Interest Income | $35.7M | $35.85M | $21.66M | $9.29M | $2.15M | $301K | $1.46M | $1.07M |
| Other Income (Expense) | $35.09M | $35.77M | $21.32M | $8.05M | $469K | $4.47M | $1.35M | $1.01M |
| Income Before Tax (EBT) | $250M | $263.57M | $185.2M | $133.16M | $114M | $57.77M | $23.51M | $7.93M |
| Income Tax Expense | $53.95M | $40.39M | $37.62M | $20.34M | -$40.78M | $7.56M | -$6.22M | $98K |
| Net Income | $196.05M | $223.19M | $147.58M | $112.82M | $154.78M | $50.21M | $29.74M | $7.83M |
| Net Income Margin | 30.4% | 39.1% | 31.0% | 26.9% | 45.1% | 24.3% | 25.5% | 9.1% |
| Supplementary Data | ||||||||
| EPS | 1.05 | 1.19 | 0.78 | 0.58 | 0.81 | 0.12 | 0.06 | 0.00 |
| Diluted EPS | 0.98 | 1.11 | 0.72 | 0.53 | 0.70 | 0.12 | 0.06 | 0.00 |
| Weighted Average OS | 187.01M | 186.84M | 190.17M | 193.18M | 163.48M | 178.21M | 181.70M | 181.70M |
| EBITDA | $264.39M | $240.76M | $182.08M | $143.44M | $119.05M | $57.5M | $23.06M | $7.47M |
| EBITDA Margin | 41.0% | 42.2% | 38.3% | 34.2% | 34.7% | 27.8% | 19.8% | 8.7% |
Balance Sheet
| Period | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2026-03-31 | 2025-03-31 | 2024-03-31 | 2023-03-31 | 2022-03-31 | 2021-03-31 | 2020-03-31 | 2019-03-31 |
| Assets | ||||||||
| Current Assets | ||||||||
| Cash and Cash Equivalents | $219.18M | $209.61M | $96.78M | $158.03M | $112.81M | $66.39M | $48.43M | $33.61M |
| Short-Term Investments | $529.42M | $706.05M | $666.12M | $682.97M | $685.3M | $76.14M | $38.02M | $28.73M |
| Cash and Short-Term Investments | $748.6M | $915.66M | $762.9M | $841M | $798.11M | $142.53M | $86.45M | $62.33M |
| Accounts Receivable | $144.78M | $128.35M | $101.33M | $107.05M | $81.07M | $50.32M | $26.16M | $15.29M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $50.88M | $44.6M | $48.71M | $27.41M | $5.51M | $5.86M | $3.41M | $2.97M |
| Total Current Assets | $944.26M | $1.09B | $912.94M | $975.45M | $904.14M | $209.4M | $122.97M | $83.36M |
| Long-Term Assets | ||||||||
| Property, Plant & Equipment Net | $25.22M | $22.54M | $24.65M | $25.1M | $9.57M | $8.94M | $7.11M | $1.37M |
| Goodwill | $84.97M | $67.94M | $67.94M | $67.94M | $18.91M | $18.91M | $0 | $0 |
| Intangible Assets | $35.33M | $23.07M | $27.32M | $31.84M | $7.91M | $9.6M | $393K | $407K |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $31.98M | $60.01M | $45.07M | $34.91M | $48.56M | $2.11M | $7.1M | $0 |
| Other Long-Term Assets | $1.92M | $2.12M | $1.46M | $1.65M | $2.26M | $2.76M | $1.35M | $1.43M |
| Total Long-Term Assets | $179.42M | $175.69M | $166.43M | $161.44M | $87.22M | $42.32M | $15.95M | $3.21M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $1.12B | $1.26B | $1.08B | $1.14B | $991.36M | $251.72M | $138.92M | $86.56M |
| Liabilities | ||||||||
| Current Liabilities | ||||||||
| Accounts Payable | $4.01M | $1.36M | $2.25M | $1.27M | $463K | $1.51M | $1.42M | $938K |
| Short-Term Debt | $2.11M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $1.36M | $14.02M | $1.5M | $785K | $410K | $0 | $0 |
| Current Unearned Revenue | $106.05M | $114.28M | $99.14M | $105.24M | $84.91M | $83.27M | $44.3M | $0 |
| Other Current Liabilities | $42.8M | $12.06M | $14.77M | $11.92M | $4.88M | $3.55M | $283K | $32.49M |
| Total Current Liabilities | $154.97M | $156.26M | $147.25M | $139.51M | $111.28M | $102.04M | $55.71M | $37.81M |
| Long-Term Liabilities | ||||||||
| Long-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Unearned Revenue | $400K | $280K | $211K | $198K | $78K | $220K | $288K | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $9.4M | $14.96M | $18.12M | $17.18M | $956K | $82.43M | $81.46M | $0 |
| Total Long-Term Liabilities | $17.88M | $25.43M | $30.73M | $31.27M | $1.48M | $82.93M | $82.07M | $0 |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $172.85M | $181.68M | $177.98M | $170.77M | $112.76M | $184.98M | $137.78M | $37.81M |
| Stockholders' Equity | ||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $81.43M |
| Common Stock | $183K | $189K | $187K | $194K | $192K | $83K | $68K | $33K |
| Retained Earnings | -$51.06M | $186.89M | $79.99M | $217.85M | $191.11M | $36.32M | -$13.89M | -$43.62M |
| Comprehensive Income & Other | $28K | $1.32M | -$2.66M | -$14.08M | -$15.29M | -$21K | $0 | $0 |
| Other Stockholders' Equity | $1B | $895.55M | $821.22M | $748.07M | $687.29M | $30.34M | $14.95M | $92.09M |
| Total Equity | $950.84M | $1.08B | $901.4M | $966.12M | $878.59M | $66.74M | $1.14M | $48.5M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $1.12B | $1.26B | $1.08B | $1.14B | $991.36M | $251.72M | $138.92M | $86.31M |
| Supplementary Data | ||||||||
| Total Debt | $10.19M | $12.4M | $14.55M | $15.64M | $1.09M | $1.25M | $2.28M | $0 |
| Net Debt | -$208.99M | -$197.22M | -$82.24M | -$142.39M | -$111.72M | -$65.14M | -$46.15M | -$33.61M |
Cash Flow Statement
| Period | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2026-03-31 | 2025-03-31 | 2024-03-31 | 2023-03-31 | 2022-03-31 | 2021-03-31 | 2020-03-31 | 2019-03-31 |
| Operating Activities | ||||||||
| Net Income | $196.05M | $223.19M | $147.58M | $112.82M | $154.78M | $50.21M | $29.74M | $7.83M |
| Depreciation & Amortization | $14.38M | $10.66M | $10.27M | $10.28M | $5.04M | $3.7M | $900K | $551K |
| Deferred Income Tax | $32.14M | -$11.59M | -$8.59M | $13.23M | -$41.25M | $4.99M | -$7.1M | $480K |
| Stock-Based Compensation | $121.63M | $72.39M | $51.08M | $47.83M | $31.44M | $7.25M | $2.35M | $2.34M |
| Changes in Working Capital: | ||||||||
| Accounts Receivable | -$16.88M | -$27.21M | $3.99M | -$26.24M | -$31.02M | -$20.45M | -$12.04M | $2.53M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $1.21M | -$6.93M | -$4.07M |
| Accounts Payable | $4.27M | -$663K | $8.33M | -$195K | $8.66M | -$243K | $5.06M | $726K |
| Other Working Capital | -$33.09M | $3.77M | -$36.85M | $5.4M | -$17.98M | $29.52M | $7.64M | -$295K |
| Total Working Capital Change | -$45.7M | -$24.1M | -$24.52M | -$21.03M | -$40.33M | $10.03M | -$6.27M | -$1.1M |
| Other Non-Cash Items | $7.96M | $2.72M | $8.29M | $16.47M | $16.89M | $6.79M | $6.58M | $5.2M |
| Net Cash from Operating | $326.46M | $273.26M | $184.1M | $179.6M | $126.58M | $82.97M | $26.2M | $15.31M |
| Investing Activities | ||||||||
| Capital Expenditures | -$8.96M | -$6.53M | -$147K | -$6.18M | -$5.7M | -$4.61M | -$4.24M | -$1.19M |
| Acquisitions | -$26.53M | $0 | $0 | -$53.5M | $0 | -$27.45M | $3.96M | $1.08M |
| Purchases of Investments | -$389.16M | -$675.56M | -$472.87M | -$190.56M | -$1.32B | -$78.88M | -$79.11M | -$61.73M |
| Sales of Investments | $571.82M | $652.78M | $509.85M | $190.32M | $681.72M | $40.54M | $70.26M | $53.86M |
| Other Investing Activities | $0 | $0 | -$5.65M | $0 | $595K | -$12K | -$3.96M | -$1.08M |
| Net Cash from Investing | $147.17M | -$29.3M | $31.19M | -$59.92M | -$640.57M | -$70.42M | -$13.1M | -$9.07M |
| Financing Activities | ||||||||
| Debt Repaid | - | - | - | - | - | - | - | - |
| Common Stock Issuance | $13.68M | $23.3M | $0 | $0 | $553.9M | $0 | $0 | $0 |
| Common Stock Repurchases | -$431.65M | -$120.29M | -$280.72M | -$85.32M | -$2.7M | -$2.02M | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | -$46.09M | -$34.15M | $4.19M | $10.86M | $9.21M | $7.43M | $1.72M | $985K |
| Net Cash from Financing | -$464.06M | -$131.14M | -$276.52M | -$74.46M | $560.41M | $5.41M | $1.72M | $985K |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $9.56M | $112.83M | -$61.24M | $45.22M | $46.42M | $17.96M | $14.82M | $7.22M |
| Supplementary Data | ||||||||
| Operating Cash Flow | $326.46M | $273.26M | $184.1M | $179.6M | $126.58M | $82.97M | $26.2M | $15.31M |
| Capital Expenditure | -$8.96M | -$6.53M | -$5.8M | -$6.18M | -$5.7M | -$4.61M | -$4.24M | -$1.19M |
| Free Cash Flow | $317.5M | $266.74M | $178.29M | $173.42M | $120.88M | $78.36M | $21.95M | $14.12M |
| Cash at Beginning | $209.61M | $96.78M | $158.03M | $112.81M | $66.39M | $48.43M | $33.61M | $26.38M |
| Cash at End | $219.18M | $209.61M | $96.78M | $158.03M | $112.81M | $66.39M | $48.43M | $33.61M |