Doximity, Inc. operates a cloud-based digital platform and professional network tailored specifically for medical professionals in the United States. The company provides a suite of tools that enable physicians to collaborate with peers, conduct telehealth visits, manage patient care, and stay updated on medical news. It primarily generates revenue by offering marketing, hiring, and workflow solutions to pharmaceutical manufacturers, health systems, and medical recruiting firms.
Financial Statements
In thousands, USD
FY 2026
FY 2025
FY 2024
FY 2023
Total Revenues
644,863
570,399
475,422
419,052
Cost of Sales
70,326
55,874
50,669
53,490
Gross Profit
574,537
514,525
424,753
365,562
Selling, General & Administrative Expenses
228,915
191,383
170,956
160,268
Research & Development Expenses
130,702
93,038
81,983
80,186
Other Operating Expenses
—
2,304
7,936
—
Operating Profit
214,920
227,800
163,878
125,108
Non-Operating Income
35,085
35,774
21,324
8,048
Total Non-Operating Income
35,085
35,774
21,324
8,048
Income Before Provision for Income Taxes
250,005
263,574
185,202
133,156
Provision for Income Taxes
53,954
40,389
37,620
20,338
Consolidated Net Income
196,051
223,185
147,582
112,818
Net Income Attributable to Common Shareholders
196,051
223,185
147,582
112,818
Basic EPS
1.05
1.19
0.78
0.58
Diluted EPS
0.98
1.11
0.72
0.53
Basic Weighted Average Shares Outstanding
187,014
186,841
190,172
193,176
Diluted Weighted Average Shares Outstanding
199,048
201,208
205,734
213,425
Shares Outstanding
183,060
188,875
186,562
193,941
FY 2026
FY 2025
FY 2024
FY 2023
Cash and Cash Equivalents
219,178
209,614
96,785
158,027
Short-Term Investments
529,423
706,050
666,115
682,972
Total Cash and Cash Equivalents
748,601
915,664
762,900
840,999
Accounts Receivable
144,783
128,354
101,332
107,047
Total Trade Receivables
144,783
128,354
101,332
107,047
Other Current Assets
50,880
44,602
48,709
27,407
Total Current Assets
944,264
1,088,620
912,941
975,453
Net Property, Plant & Equipment
25,220
22,542
24,650
25,098
Net Intangible Assets
35,325
23,072
27,317
31,836
Goodwill
84,973
67,940
67,940
67,940
Other Long-Term Assets
33,905
62,135
46,526
36,561
Total Assets
1,123,687
1,264,309
1,079,374
1,136,888
Accounts Payable
4,009
1,356
2,253
1,272
Accrued Expenses
42,804
38,405
43,703
31,245
Current Portion of Leases
2,110
2,211
2,149
1,752
Unearned Revenue
106,050
114,285
99,145
105,238
Total Current Liabilities
154,973
156,257
147,250
139,507
Leases
8,075
10,185
12,397
13,885
Other Long-Term Liabilities
9,802
15,242
18,330
17,380
Total Long-Term Liabilities
17,877
25,427
30,727
31,265
Total Liabilities
172,850
181,684
177,977
170,772
Common Stock
183
189
187
194
Additional Paid-in Capital
1,001,688
894,225
823,885
762,150
Accumulated Other Comprehensive Income
28
1,323
(2,664)
(14,083)
Retained Earnings
(51,062)
186,888
79,989
217,855
Total Common Shareholders' Equity
950,837
1,082,625
901,397
966,116
Total Shareholders' Equity
950,837
1,082,625
901,397
966,116
Total Liabilities and Shareholders' Equity
1,123,687
1,264,309
1,079,374
1,136,888
FY 2026
FY 2025
FY 2024
FY 2023
Net Income
196,051
223,185
147,582
112,818
Depreciation & Amortization
14,383
10,659
10,265
10,283
Share-Based Compensation Expense
121,627
72,386
51,076
47,834
Other Adjustments
40,096
(8,868)
(303)
29,700
Changes in Trade Receivables
(16,879)
(27,206)
3,993
(26,242)
Changes in Accrued Expenses
4,268
(663)
8,332
(195)
Changes in Unearned Revenue
(8,115)
15,210
(6,080)
17,527
Changes in Other Operating Activities
(24,973)
(11,438)
(30,769)
(12,123)
Cash from Operating Activities
326,458
273,265
184,096
179,602
Capital Expenditure
—
—
(147)
(1,701)
Purchases of Intangible Assets
(8,963)
(6,525)
(5,654)
(4,483)
Purchases of Investments
(389,159)
(675,557)
(472,867)
(190,560)
Proceeds from Sale of Investments
571,820
652,784
509,854
190,321
Payments for Business Acquisitions
(26,528)
—
—
(53,500)
Cash from Investing Activities
147,170
(29,298)
31,186
(59,923)
Issuance of Common Shares
13,676
23,301
16,338
14,685
Repurchases of Common Shares
(472,491)
(147,478)
(287,472)
(89,146)
Net Issuance / (Repurchases) of Common Shares
(458,815)
(124,177)
(271,134)
(74,461)
Other Financing Activities
(5,249)
(6,961)
(5,390)
—
Cash from Financing Activities
(464,064)
(131,138)
(276,524)
(74,461)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash