What is Doximity Inc's earnings per share (EPS)?

Doximity Inc (DOCS) reported diluted earnings per share of $1.11 for fiscal year 2025. This represents a 54.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Doximity Inc Financials

DOCS

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE March

This page shows Doximity Inc (DOCS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 87/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

100

Doximity Inc has an operating margin of 39.9%, meaning the company retains $40 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is up from 34.5% the prior year.

Growth

Doximity Inc's revenue surged 20.0% year-over-year to $570.4M, reflecting rapid business expansion. This strong growth earns a score of 67/100.

Leverage

Doximity Inc carries a low D/E ratio of 0.17, meaning only $0.17 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 99/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

100

With a current ratio of 6.97, Doximity Inc holds $6.97 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Cash Flow

100

Doximity Inc converts 47.9% of revenue into free cash flow ($273.3M). This strong cash generation earns a score of 100/100.

Returns

Doximity Inc's ROE of 20.6% shows moderate profitability relative to equity, earning a score of 57/100. This is up from 16.4% the prior year.

Altman Z-Score Safe

16.35

Doximity Inc scores 16.35, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($4.3B) relative to total liabilities ($181.7M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Strong

7/9

Doximity Inc passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

1.22x

For every $1 of reported earnings, Doximity Inc generates $1.22 in operating cash flow ($273.3M OCF vs $223.2M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$570.4M

YoY+20.0%

5Y CAGR+37.4%

Doximity Inc generated $570.4M in revenue in fiscal year 2025. This represents an increase of 20.0% from the prior year.

EBITDA

$238.5M

YoY+36.9%

5Y CAGR+59.6%

Doximity Inc's EBITDA was $238.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 36.9% from the prior year.

Net Income

$223.2M

YoY+51.2%

5Y CAGR+49.6%

Doximity Inc reported $223.2M in net income in fiscal year 2025. This represents an increase of 51.2% from the prior year.

EPS (Diluted)

$1.11

YoY+54.2%

5Y CAGR+53.6%

Doximity Inc earned $1.11 per diluted share (EPS) in fiscal year 2025. This represents an increase of 54.2% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$273.3M

YoY+48.6%

5Y CAGR+60.2%

Doximity Inc generated $273.3M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 48.6% from the prior year.

Cash & Debt

$209.6M

YoY+116.6%

5Y CAGR+34.0%

Doximity Inc held $209.6M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

189M

YoY+1.2%

Doximity Inc had 189M shares outstanding in fiscal year 2025. This represents an increase of 1.2% from the prior year.

Margins & Returns

Gross Margin

90.2%

YoY+0.9pp

5Y CAGR+3.0pp

Doximity Inc's gross margin was 90.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 0.9 percentage points from the prior year.

Operating Margin

39.9%

YoY+5.5pp

5Y CAGR+20.9pp

Doximity Inc's operating margin was 39.9% in fiscal year 2025, reflecting core business profitability. This is up 5.5 percentage points from the prior year.

Net Margin

39.1%

YoY+8.1pp

5Y CAGR+13.6pp

Doximity Inc's net profit margin was 39.1% in fiscal year 2025, showing the share of revenue converted to profit. This is up 8.1 percentage points from the prior year.

Return on Equity

20.6%

YoY+4.2pp

5Y CAGR-2597.1pp

Doximity Inc's ROE was 20.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 4.2 percentage points from the prior year.

Capital Allocation

R&D Spending

$93.0M

YoY+13.5%

5Y CAGR+23.5%

Doximity Inc invested $93.0M in research and development in fiscal year 2025. This represents an increase of 13.5% from the prior year.

Share Buybacks

$120.3M

YoY-57.1%

Doximity Inc spent $120.3M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 57.1% from the prior year.

Capital Expenditures

YoY-100.0%

Doximity Inc invested $0 in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 100.0% from the prior year.

DOCS Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$570.4M+20.0%	$475.4M+13.5%	$419.1M+22.0%	$343.5M+66.0%	$206.9M+77.8%	$116.4M
Cost of Revenue	$55.9M+10.3%	$50.7M-5.3%	$53.5M+34.4%	$39.8M+27.5%	$31.2M+109.4%	$14.9M
Gross Profit	$514.5M+21.1%	$424.8M+16.2%	$365.6M+20.3%	$303.8M+72.9%	$175.7M+73.1%	$101.5M
R&D Expenses	$93.0M+13.5%	$82.0M+2.2%	$80.2M+28.6%	$62.4M+42.1%	$43.9M+35.3%	$32.4M
SG&A Expenses	$45.7M+20.7%	$37.8M+2.9%	$36.7M+2.8%	$35.7M+116.7%	$16.5M+121.6%	$7.4M
Operating Income	$227.8M+39.0%	$163.9M+31.0%	$125.1M+10.2%	$113.5M+113.0%	$53.3M+140.5%	$22.2M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$40.4M+7.4%	$37.6M+85.0%	$20.3M+149.9%	-$40.8M-639.5%	$7.6M+221.5%	-$6.2M
Net Income	$223.2M+51.2%	$147.6M+30.8%	$112.8M-27.1%	$154.8M+208.3%	$50.2M+68.8%	$29.7M
EPS (Diluted)	$1.11+54.2%	$0.72+35.8%	$0.53-24.3%	$0.70+204.3%	$0.23+76.9%	$0.13

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
Revenue	$185.1M+9.8%	$168.5M+15.5%	$145.9M+5.5%	$138.3M-18.0%	$168.6M+23.2%	$136.8M+8.0%	$126.7M+7.3%	$118.1M
Cost of Revenue	$18.7M+13.9%	$16.4M+4.0%	$15.8M+9.2%	$14.5M+2.0%	$14.2M+3.7%	$13.7M+0.9%	$13.6M+7.8%	$12.6M
Gross Profit	$166.4M+9.4%	$152.1M+16.9%	$130.1M+5.1%	$123.8M-19.8%	$154.4M+25.4%	$123.2M+8.9%	$113.1M+7.2%	$105.5M
R&D Expenses	$34.6M+14.5%	$30.2M+12.7%	$26.8M+8.0%	$24.8M+10.6%	$22.4M-3.5%	$23.2M+3.0%	$22.6M+12.0%	$20.1M
SG&A Expenses	$17.7M-7.3%	$19.0M+53.1%	$12.4M-2.3%	$12.7M-6.3%	$13.6M+34.5%	$10.1M+9.2%	$9.3M-7.2%	$10.0M
Operating Income	$71.9M+12.9%	$63.7M+16.8%	$54.5M+12.0%	$48.7M-39.1%	$79.9M+50.4%	$53.1M+15.4%	$46.1M+10.0%	$41.9M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$19.2M+76.8%	$10.9M+0.5%	$10.8M+366.4%	-$4.1M-127.8%	$14.6M-18.7%	$18.0M+52.8%	$11.8M+60.8%	$7.3M
Net Income	$61.6M-0.8%	$62.1M+16.4%	$53.3M-14.6%	$62.5M-16.9%	$75.2M+70.3%	$44.2M+6.7%	$41.4M+1.9%	$40.6M
EPS (Diluted)	$0.310.0%	$0.31+14.8%	$0.27	N/A	$0.37+68.2%	$0.22+4.8%	$0.21	N/A

DOCS Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$1.3B+17.1%	$1.1B-5.1%	$1.1B+14.7%	$991.4M+293.8%	$251.7M	N/A
Current Assets	$1.1B+19.2%	$912.9M-6.4%	$975.5M+7.9%	$904.1M+331.8%	$209.4M	N/A
Cash & Equivalents	$209.6M+116.6%	$96.8M-38.8%	$158.0M+40.1%	$112.8M+69.9%	$66.4M+37.1%	$48.4M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$128.4M+26.7%	$101.3M-5.3%	$107.0M+32.0%	$81.1M+61.1%	$50.3M	N/A
Goodwill	$67.9M0.0%	$67.9M0.0%	$67.9M+259.2%	$18.9M0.0%	$18.9M	N/A
Total Liabilities	$181.7M+2.1%	$178.0M+4.2%	$170.8M+51.4%	$112.8M-39.0%	$185.0M	N/A
Current Liabilities	$156.3M+6.1%	$147.3M+5.6%	$139.5M+25.4%	$111.3M+9.1%	$102.0M	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$1.1B+20.1%	$901.4M-6.7%	$966.1M+10.0%	$878.6M+1216.4%	$66.7M+5775.3%	$1.1M
Retained Earnings	$186.9M+133.6%	$80.0M-63.3%	$217.9M+14.0%	$191.1M+426.1%	$36.3M	N/A

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
Total Assets	$1.2B-8.0%	$1.3B+4.4%	$1.2B-4.7%	$1.3B+7.9%	$1.2B+4.8%	$1.1B+4.2%	$1.1B-0.5%	$1.1B
Current Assets	$993.5M-9.0%	$1.1B+5.6%	$1.0B-5.0%	$1.1B+7.5%	$1.0B+5.7%	$957.7M+5.4%	$908.5M-0.5%	$912.9M
Cash & Equivalents	$64.8M-61.7%	$169.2M+23.3%	$137.3M-34.5%	$209.6M+26.8%	$165.3M-10.3%	$184.2M+65.3%	$111.4M+15.1%	$96.8M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$156.6M+21.1%	$129.3M-8.7%	$141.7M+10.4%	$128.4M-6.7%	$137.5M+10.2%	$124.8M+3.2%	$120.9M+19.3%	$101.3M
Goodwill	$85.0M0.0%	$85.0M+25.1%	$67.9M0.0%	$67.9M0.0%	$67.9M0.0%	$67.9M0.0%	$67.9M0.0%	$67.9M
Total Liabilities	$177.7M+10.0%	$161.6M-9.7%	$178.9M-1.6%	$181.7M+28.8%	$141.0M-10.4%	$157.3M-1.6%	$159.9M-10.2%	$178.0M
Current Liabilities	$149.8M+6.8%	$140.3M-12.3%	$159.9M+2.3%	$156.3M+34.8%	$115.9M-12.4%	$132.3M-2.2%	$135.3M-8.1%	$147.3M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$979.3M-10.6%	$1.1B+6.8%	$1.0B-5.3%	$1.1B+5.0%	$1.0B+7.3%	$961.2M+5.2%	$913.6M+1.4%	$901.4M
Retained Earnings	$21.0M-86.7%	$157.7M+34.7%	$117.1M-37.3%	$186.9M+23.6%	$151.2M+58.8%	$95.2M+30.6%	$72.9M-8.8%	$80.0M

DOCS Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$273.3M+48.4%	$184.1M+2.5%	$179.6M+41.9%	$126.6M+52.5%	$83.0M+216.7%	$26.2M
Capital Expenditures	$0-100.0%	$147K-91.4%	$1.7M-11.0%	$1.9M+680.4%	$245K-14.0%	$285K
Free Cash Flow	$273.3M+48.6%	$183.9M+3.4%	$177.9M+42.7%	$124.7M+50.7%	$82.7M+219.2%	$25.9M
Investing Cash Flow	-$29.3M-193.9%	$31.2M+152.0%	-$59.9M+90.6%	-$640.6M-809.7%	-$70.4M-437.7%	-$13.1M
Financing Cash Flow	-$131.1M+52.6%	-$276.5M-271.4%	-$74.5M-113.3%	$560.4M+10264.6%	$5.4M+214.5%	$1.7M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$120.3M-57.1%	$280.7M+229.0%	$85.3M+3062.5%	$2.7M+33.4%	$2.0M	$0

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
Operating Cash Flow	$60.9M-35.2%	$93.9M+51.3%	$62.1M-36.9%	$98.5M+51.1%	$65.2M-4.6%	$68.3M+65.7%	$41.2M-35.5%	$63.9M
Capital Expenditures	N/A	N/A	N/A	$0	$0	$0	$0	$0
Free Cash Flow	N/A	N/A	N/A	$98.5M+51.1%	$65.2M-4.6%	$68.3M+65.7%	$41.2M-35.5%	$63.9M
Investing Cash Flow	$38.2M+220.5%	-$31.7M-1283.7%	$2.7M+110.9%	-$24.5M+58.5%	-$58.9M-343.9%	$24.2M-19.3%	$29.9M+139.3%	-$76.2M
Financing Cash Flow	-$203.5M-572.9%	-$30.2M+77.9%	-$137.1M-362.2%	-$29.7M-17.5%	-$25.2M-28.2%	-$19.7M+65.2%	-$56.5M-301.5%	-$14.1M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$196.9M+799.3%	$21.9M-82.1%	$122.4M+356.8%	$26.8M+38.7%	$19.3M-16.0%	$23.0M-55.1%	$51.2M+188.7%	$17.7M

DOCS Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	90.2%+0.9pp	89.3%+2.1pp	87.2%-1.2pp	88.4%+3.5pp	84.9%-2.3pp	87.2%
Operating Margin	39.9%+5.5pp	34.5%+4.6pp	29.9%-3.2pp	33.1%+7.3pp	25.8%+6.7pp	19.0%
Net Margin	39.1%+8.1pp	31.0%+4.1pp	26.9%-18.1pp	45.1%+20.8pp	24.3%-1.3pp	25.6%
Return on Equity	20.6%+4.2pp	16.4%+4.7pp	11.7%-5.9pp	17.6%-57.6pp	75.2%-2542.5pp	2617.7%
Return on Assets	17.6%+4.0pp	13.7%+3.7pp	9.9%-5.7pp	15.6%-4.3pp	20.0%	N/A
Current Ratio	6.97+0.8	6.20-0.8	6.99-1.1	8.12+6.1	2.05	N/A
Debt-to-Equity	0.17-0.0	0.20+0.0	0.18+0.0	0.13-2.6	2.77	N/A
FCF Margin	47.9%+9.2pp	38.7%-3.8pp	42.4%+6.2pp	36.3%-3.7pp	40.0%+17.7pp	22.3%

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
Gross Margin	89.9%-0.4pp	90.3%+1.1pp	89.2%-0.4pp	89.5%-2.1pp	91.6%+1.6pp	90.0%+0.7pp	89.3%-0.1pp	89.4%
Operating Margin	38.9%+1.1pp	37.8%+0.4pp	37.4%+2.2pp	35.2%-12.2pp	47.4%+8.6pp	38.8%+2.5pp	36.4%+0.9pp	35.4%
Net Margin	33.3%-3.6pp	36.8%+0.3pp	36.5%-8.6pp	45.2%+0.6pp	44.6%+12.3pp	32.3%-0.4pp	32.7%-1.8pp	34.4%
Return on Equity	6.3%+0.6pp	5.7%+0.5pp	5.2%-0.6pp	5.8%-1.5pp	7.3%+2.7pp	4.6%+0.1pp	4.5%+0.0pp	4.5%
Return on Assets	5.3%+0.4pp	4.9%+0.5pp	4.4%-0.5pp	4.9%-1.5pp	6.4%+2.5pp	4.0%+0.1pp	3.9%+0.1pp	3.8%
Current Ratio	6.63-1.2	7.79+1.3	6.47-0.5	6.97-1.8	8.74+1.5	7.24+0.5	6.72+0.5	6.20
Debt-to-Equity	0.18+0.0	0.15-0.0	0.170.0	0.17+0.0	0.14-0.0	0.16-0.0	0.17-0.0	0.20
FCF Margin	N/A	N/A	N/A	71.2%+32.6pp	38.7%-11.3pp	50.0%+17.4pp	32.6%-21.6pp	54.2%

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Frequently Asked Questions

What is Doximity Inc's annual revenue?

Doximity Inc (DOCS) reported $570.4M in total revenue for fiscal year 2025. This represents a 20.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Doximity Inc's revenue growing?

Doximity Inc (DOCS) revenue grew by 20% year-over-year, from $475.4M to $570.4M in fiscal year 2025.

Is Doximity Inc profitable?

Yes, Doximity Inc (DOCS) reported a net income of $223.2M in fiscal year 2025, with a net profit margin of 39.1%.

What is Doximity Inc's EBITDA?

Doximity Inc (DOCS) had EBITDA of $238.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Doximity Inc's gross margin?

Doximity Inc (DOCS) had a gross margin of 90.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Doximity Inc's operating margin?

Doximity Inc (DOCS) had an operating margin of 39.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Doximity Inc's net profit margin?

Doximity Inc (DOCS) had a net profit margin of 39.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Doximity Inc's return on equity (ROE)?

Doximity Inc (DOCS) has a return on equity of 20.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Doximity Inc's free cash flow?

Doximity Inc (DOCS) generated $273.3M in free cash flow during fiscal year 2025. This represents a 48.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Doximity Inc's operating cash flow?

Doximity Inc (DOCS) generated $273.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Doximity Inc's total assets?

Doximity Inc (DOCS) had $1.3B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Doximity Inc's capital expenditures?

Doximity Inc (DOCS) invested $0 in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Doximity Inc spend on research and development?

Doximity Inc (DOCS) invested $93.0M in research and development during fiscal year 2025.

Does Doximity Inc buy back shares?

Yes, Doximity Inc (DOCS) spent $120.3M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Doximity Inc have outstanding?

Doximity Inc (DOCS) had 189M shares outstanding as of fiscal year 2025.

What is Doximity Inc's current ratio?

Doximity Inc (DOCS) had a current ratio of 6.97 as of fiscal year 2025, which is generally considered healthy.

What is Doximity Inc's debt-to-equity ratio?

Doximity Inc (DOCS) had a debt-to-equity ratio of 0.17 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Doximity Inc's return on assets (ROA)?

Doximity Inc (DOCS) had a return on assets of 17.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Doximity Inc's Altman Z-Score?

Doximity Inc (DOCS) has an Altman Z-Score of 16.35, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Doximity Inc's Piotroski F-Score?

Doximity Inc (DOCS) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Doximity Inc's earnings high quality?

Doximity Inc (DOCS) has an earnings quality ratio of 1.22x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Doximity Inc?

Doximity Inc (DOCS) scores 87 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.