Doximity, Inc. operates as a digital platform for medical professionals in the United States.
Profile & Fundamentals
Doximity: Company identity, ownership, reported financial performance, balance sheets, and corporate actions.
Profile & Fundamentals
Doximity Profile & Fundamentals
Examine company identity, ownership, reported performance, valuation, balance-sheet resilience, dividends, buybacks, and material corporate events.
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Company and Market Context
Company Profile & Ownership
Doximity, Inc. operates a digital platform for medical professionals in the United States. Its Doximity platform includes a personalized newsfeed that presents clinical and professional content to members, which offers medical articles, clinical trials or research results in an easy-to-consume video format, professional updates and accomplishments of their peers and colleagues, clinical discussions, Op-Med articles for publication, and sponsored content from pharmaceutical manufacturers and health systems. The company also offers workflow tools, including Ask, a HIPAA-compliant AI assistant, to access and apply evidence-based medical information within clinical workflows; Scribe, a HIPAA-compliant, AI-powered clinical documentation tool; Telehealth tools for hospitals and health systems; and AMiON, an on-call scheduling tool. The company primarily serves physicians, nurse practitioners, physician assistants, medical students, 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.
Company profile record
Doximity Inc
Common Stock · Health Care · Health Care Technology
Company
- Company / asset
- Doximity Inc
- Security type
- Common Stock
- Sector
- Health Care
- Industry
- Health Care Technology
- HQ
- 🇺🇸 United States
- Head office
- 500 3rd Street, San Francisco, CA, United States, 94107
Leadership & scale
- Chief executive
- Mr. Jeffrey A. Tangney
- CEO year born
- 1973
- Full-time employees
- 880
- Fiscal year end
- March
- IPO date
- 2021-06-24
Fundamentals snapshot
- Market Cap
- USD 5.3B
- P/E
- 31.8x
- Revenue (Q2 26)
- USD 156.6M
- Profit (Q2 26)
- USD 24.3M
- Dividend Yield
- --
- Revenue (FY 26)
- USD 644.9M
- Shares in public float
- 123.6M
- Insider ownership
- 2.86%
Reporting & identifiers
- Symbol
- DOCS.NYSE
- Listing
- 🇺🇸 United States | Dividend Tax: 30%
- Ticker Currency
- USD
- Income Statement Currency
- USD
- Balance Sheet Currency
- USD
- Cash Flow Currency
- USD
- EPS Currency
- USD
- Contract Type
- SPOT
- ISIN
- US26622P1075
- Asset ID
- equity_c864ecb9-9c8f-51c3-908b-f06268302528
Ownership
Shares Outstanding
Latest: 191.2M | Max: 216.4M | Min: 181.7M
Latest reported ownership snapshot
As of Oct 1, 2026Float Shares
64.67%
123.6M latest reported shares
Insider Ownership
2.86%
Latest reported insider stake
Short Float
0.10%
Latest reported short interest / float
Top Holders
Source tablesView ownership tables
Shares Outstanding
Annual reported shares outstanding; up to 10 reporting dates.
Scroll the table to see every column.
| Reporting date | Shares outstanding |
|---|---|
| 2019-01-01 | 181,702,500 |
| 2020-01-01 | 185,207,000 |
| 2021-01-01 | 216,396,000 |
| 2022-01-01 | 212,065,000 |
| 2023-01-01 | 200,463,000 |
| 2024-01-01 | 202,233,000 |
| 2025-01-01 | 199,224,000 |
| 2026-01-01 | 191,169,000 |
Top Holders
Available reported ownership records.
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| Holder | Shares | Ownership | Reported date |
|---|---|---|---|
| BlackRock Inc | 14,256,525 | 8% | 2026-03-31 |
| Vanguard Portfolio Management, LLC | 6,394,107 | 3.59% | 2026-03-31 |
| D. E. Shaw & Co LP | 5,922,188 | 3.32% | 2026-06-30 |
| Vanguard Capital Management, LLC | 5,765,063 | 3.23% | 2026-03-31 |
| ClearBridge Advisors, LLC | 4,975,398 | 2.79% | 2026-03-31 |
| iShares Core S&P Mid-Cap ETF | 4,685,484 | 2.63% | 2026-08-31 |
| Two Sigma Investments LLC | 4,647,309 | 2.61% | 2026-06-30 |
| Carmignac Gestion | 4,311,997 | 2.42% | 2026-03-31 |
| Vanguard MStar Total Stk Mkt Idx Invest | 4,211,002 | 2.36% | 2026-08-31 |
| State Street Corp | 4,039,510 | 2.27% | 2026-03-31 |
| Geode Capital Management, LLC | 3,944,586 | 2.21% | 2026-03-31 |
| Wellington Management Company LLP | 3,135,113 | 1.76% | 2026-06-30 |
| Renaissance Technologies Corp | 3,059,749 | 1.72% | 2026-03-31 |
| Vanguard Small Cap Index | 3,035,826 | 1.7% | 2026-08-31 |
| Deutsche Bank AG | 2,922,774 | 1.64% | 2026-03-31 |
Earnings, Profitability & Valuation
Earnings, Profitability & Valuation
Earnings & Revenue
Earnings and Revenue Trajectory
AI Review
Doximity's financial performance presents a striking contrast between slowing top-line revenue and powerful cash generation. For fiscal 2026, revenue increased 13.05% to $645 million, but growth decelerated to 7.34% in the first quarter of fiscal 2027. GAAP net income contracted sharply, halving to $24.3 million in the latest quarter as spending on artificial intelligence engineering surged over 40%. However, this headline earnings drop conceals underlying cash-flow vitality. Trailing free cash flow reached $299 million, representing an elite 46% conversion margin. Operating performance reflects deliberate, front-loaded software reinvestment rather than structural business decay, providing a highly resilient foundation as commercial marketing commitments stabilize.
Doximity's financial performance presents a striking contrast between slowing top-line revenue and powerful cash generation. For fiscal 2026, revenue increased 13.05% to $645 million, but growth decelerated to 7.34% in the first quarter of fiscal 2027. GAAP net income contracted sharply, halving to $24.3 million in the latest quarter as spending on artificial intelligence engineering surged over 40%. However, this headline earnings drop conceals underlying cash-flow vitality. Trailing free cash flow reached $299 million, representing an elite 46% conversion margin. Operating performance reflects deliberate, front-loaded software reinvestment rather than structural business decay, providing a highly resilient foundation as commercial marketing commitments stabilize.
Revenue, Net Income, and Free Cash Flow
Latest: USD 644.9M | Max: USD 644.9M | Min: USD 7.8M
Valuation
P/E Ratio (TTM)iPublished valuation snapshots use the earnings basis recorded with each observation. Source tables retain that basis.
Latest: 23x
Profitability & Margins
Margins and Operating Efficiency
AI Review
The company commands extraordinary pricing power, maintaining pristine gross profit margins near 89.1% in fiscal 2026. However, GAAP operating margin compressed from 39.9% in fiscal 2025 to 33.3% in fiscal 2026, and gross margins dipped toward 85% in recent quarters due to cloud inference expenses supporting clinical AI queries. This margin compression represents an intentional strategic investment rather than permanent competitive erosion. Core physician distribution carries negligible marginal delivery cost, ensuring that as enterprise software subscriptions scale and search monetization matures, operating leverage will naturally expand margins back toward mid-30% levels.
The company commands extraordinary pricing power, maintaining pristine gross profit margins near 89.1% in fiscal 2026. However, GAAP operating margin compressed from 39.9% in fiscal 2025 to 33.3% in fiscal 2026, and gross margins dipped toward 85% in recent quarters due to cloud inference expenses supporting clinical AI queries. This margin compression represents an intentional strategic investment rather than permanent competitive erosion. Core physician distribution carries negligible marginal delivery cost, ensuring that as enterprise software subscriptions scale and search monetization matures, operating leverage will naturally expand margins back toward mid-30% levels.
Profitability Margins
Latest: 89.1% | Max: 90.2% | Min: 8.1%
Latest Profitability Ratios as of 2026-03-31
Gross Margin
89.1%
Gross profit / revenue
Operating Margin
33.3%
Operating income / revenue
Net Margin
30.4%
Net income / revenue
FCF Margin
49.2%
Free cash flow / revenue
Source tablesView earnings, profitability & valuation tables
Revenue, Net Income, and Free Cash Flow
Annual reported results, using the source statement's recorded USD conversion. Up to 10 reporting periods; missing values are not estimated.
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| Period end | Revenue (USD) | Net income (USD) | Free cash flow (USD) |
|---|---|---|---|
| 2019-03-31 | 85,695,000 | 7,833,000 | 14,116,000 |
| 2020-03-31 | 116,388,000 | 29,737,000 | 21,955,000 |
| 2021-03-31 | 206,897,000 | 50,210,000 | 78,363,000 |
| 2022-03-31 | 343,548,000 | 154,783,000 | 120,878,000 |
| 2023-03-31 | 419,052,000 | 112,818,000 | 173,418,000 |
| 2024-03-31 | 475,422,000 | 147,582,000 | 178,295,000 |
| 2025-03-31 | 570,399,000 | 223,185,000 | 266,740,000 |
| 2026-03-31 | 644,863,000 | 196,051,000 | 317,495,000 |
Published P/E Ratio
Published valuation snapshots retain each observation's earnings basis.
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| Period end | P/E (times earnings) | Earnings basis |
|---|---|---|
| 2026-03-31 | 22.72 | Trailing four quarters |
| 2025-03-31 | 51.8 | Trailing four quarters |
| 2024-03-31 | 36.88 | Trailing four quarters |
| 2023-03-31 | 57.54 | Annual net income |
| 2022-03-31 | 71.37 | Annual net income |
Profitability Margins
Matching annual reporting dates. Values are percentages.
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| Period end | Gross margin (%) | Operating margin (%) | Net margin (%) | Free cash flow margin (%) |
|---|---|---|---|---|
| 2019-03-31 | 87.29 | 8.08 | 9.14 | 16.47 |
| 2020-03-31 | 87.2 | 19.04 | 25.55 | 18.86 |
| 2021-03-31 | 84.92 | 25.76 | 24.27 | 37.88 |
| 2022-03-31 | 88.42 | 33.05 | 45.05 | 35.19 |
| 2023-03-31 | 87.24 | 29.86 | 26.92 | 41.38 |
| 2024-03-31 | 89.34 | 34.47 | 31.04 | 37.5 |
| 2025-03-31 | 90.2 | 39.94 | 39.13 | 46.76 |
| 2026-03-31 | 89.09 | 33.33 | 30.4 | 49.23 |
Public data excerpt created by iPulse AI and published by Future Edge Group FZE. Source: eodhd. Snapshot retrieved 2026-09-29.
Use is subject to the iPulse AI Terms of Service and applicable source rights. Missing inputs are not estimated. Full access includes the remaining records, research and interactive tools.
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