Doximity Announces Fourth Quarter and Fiscal Year 2026 Financial Results

About this update from Doximity, Inc.

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(NYSE: DOCS), the leading digital platform for U.S. medical professionals, today announced results of its fiscal 2026 fourth quarter and fiscal year ended March 31, 2026.","length":231,"tagName":"p"},{"type":"text","content":""We’re thrilled to announce that we reached a new engagement record of over 800,000 active prescribers using our workflow tools in Q4. Nearly half of those providers used our clinical AI last quarter, while our prompts per user nearly doubled from January to April alone," said Jeff Tangney, co-founder and CEO of Doximity.","length":333,"tagName":"p"},{"type":"text","content":""Our new partnerships with Aledade and Photon build on that momentum, bringing our Clinical AI Suite to thousands of independent practices and enabling seamless in-workflow prescribing for the first time. I'm also thrilled to welcome Matt Sonefeldt as our new CFO and Dr. Steve Zatz as our new President, two exceptional leaders whose experience and relationships will be instrumental as we continue to scale."","length":424,"tagName":"p"},{"type":"text","content":" Fiscal 2026 Fourth Quarter Financial Highlights ","length":47,"tagName":"p"},{"type":"text","content":"All comparisons, unless otherwise noted, are to the three months ended March 31, 2025.","length":86,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":" Revenue: Revenue of $145.4 million, versus $138.3 million, an increase of 5% year-over-year.","length":92,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":" Net income and non-GAAP net income: Net income of $19.1 million, versus $62.5 million, representing a margin of 13.1%, versus 45.2%. Non-GAAP net income of $49.8 million, versus $77.7 million, representing a margin of 34.2%, versus 56.2%.","length":238,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":" Adjusted EBITDA: Adjusted EBITDA of $65.8 million, versus $69.7 million, a decrease of 6% year-over-year, representing adjusted EBITDA margins of 45.3%, versus 50.4%.","length":166,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":" Diluted net income per share and non-GAAP diluted net income per share: Diluted net income per share was $0.10, versus $0.31, while non-GAAP diluted net income per share was $0.26, versus $0.38.","length":194,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":" Operating cash flow and free cash flow : Operating cash flow of $109.5 million, versus $98.5 million, an increase of 11% year-over-year, and free cash flow of $107.3 million, versus $97.0 million, an increase of 11% year-over-year.","length":230,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":920,"olType":false},{"type":"text","content":" Fiscal Year 2026 Financial Highlights ","length":37,"tagName":"p"},{"type":"text","content":"All comparisons, unless otherwise noted, are to the fiscal year ended March 31, 2025.","length":85,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":" Revenue: Revenue of $644.9 million, versus $570.4 million, an increase of 13% year-over-year.","length":93,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":" Net income and non-GAAP net income: Net income of $196.1 million, versus $223.2 million, representing a margin of 30.4%, versus 39.1%. Non-GAAP net income of $302.7 million, versus $286.1 million, representing a margin of 46.9%, versus 50.2%.","length":242,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":" Adjusted EBITDA: Adjusted EBITDA of $357.8 million, versus $313.8 million, an increase of 14%, representing adjusted EBITDA margins of 55.5%, versus 55.0%.","length":155,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":" Diluted net income per share and non-GAAP diluted net income per share: Diluted net income per share was $0.98, versus $1.11, while non-GAAP diluted net income per share was $1.52, versus $1.42.","length":194,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":" Operating cash flow and free cash flow : Operating cash flow of $326.5 million, versus $273.3 million, an increase of 19% year-over-year, and free cash flow of $317.5 million, versus $266.7 million, an increase of 19% year-over-year.","length":232,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":916,"olType":false},{"type":"readMore"},{"type":"text","content":" Financial Outlook ","length":17,"tagName":"p"},{"type":"text","content":"Doximity is providing guidance for its fiscal first quarter ending June 30, 2026 as follows:","length":92,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Revenue between $151 million and $152 million.","length":46,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Adjusted EBITDA between $68.5 million and $69.5 million.","length":56,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":102,"olType":false},{"type":"text","content":"Doximity is providing guidance for its fiscal year ending March 31, 2027 as follows:","length":84,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Revenue between $664 million and $676 million.","length":46,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Adjusted EBITDA between $323 million and $335 million.","length":54,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":100,"olType":false},{"type":"text","content":" Conference Call Information ","length":27,"tagName":"p"},{"type":"text","content":"Doximity posted prepared remarks on its investor relations website at https://investors.doximity.com . Doximity will host a webcast today at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss these financial results. To listen to a live audio webcast, please visit the Company’s Investor Relations page at https://investors.doximity.com . The archived webcast will be available on the Company’s Investor Relations page shortly after the call.","length":448,"tagName":"p"},{"type":"text","content":" About Doximity ","length":14,"tagName":"p"},{"type":"text","content":"Founded in 2010, Doximity is the leading digital platform for U.S. medical professionals. The company's network members include more than 85% of U.S. physicians across all specialties and practice areas. Doximity provides its verified clinical membership with digital tools built for medicine, enabling them to collaborate with colleagues, stay current on medical news and research, manage their careers and on-call schedules, streamline documentation and administrative paperwork, and conduct virtual patient visits. With new AI-powered clinical reference and search capabilities, Doximity also helps doctors access trusted, peer-reviewed information and medical literature. Doximity's mission is to help doctors be more productive so they can provide better care for their patients.","length":792,"tagName":"p"},{"type":"text","content":" Forward-Looking Statements ","length":26,"tagName":"p"},{"type":"text","content":" Statements we make in this press release may include statements which are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act, which are usually identified by the use of words such as "anticipates," "believes," "estimates," "expects," "intends," "may," "plans," "projects," "seeks," "should," "will," and variations of such words or similar expressions. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Securities Exchange Act and are making this statement for purposes of complying with those safe harbor provisions. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations, or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors including (i) the timing and scope of anticipated stock repurchases; (ii) the impact of uncertainty in the current economic environment and macroeconomic uncertainty; (iii) our ability to retain existing members or add new members to our platform and maintain or grow their engagement with our platform; (iv) our ability to attract new customers or retain existing customers; (v) the impact of our prioritization of our members’ interests; (vi) breaches in our security measures or unauthorized access to members’ data; (vii) our ability to maintain or manage our growth, and other risks and factors that are beyond our control including, without limitation, those set forth in the section entitled "Risk Factors" in the Quarterly Report on Form 10-Q for the fiscal quarter ended December 31, 2025. Additional information will be provided in our Annual Report on Form 10-K for the fiscal year ended March 31, 2026. Moreover, we operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could cause actual results to differ materially from those contained in our forward-looking statements. The forward-looking statements made in this press release relate only to management’s beliefs and assumptions as of this date. We assume no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. 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