Doximity Inc Financials
Doximity Inc (DOCS) reported $644.9M in revenue for fiscal year 2026, up 13.1% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 7 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).
A capital-light software model turns revenue into cash unusually efficiently, then recycles that surplus into aggressive buybacks.
By FY2026, free cash flow reached50.6% of revenue while capital spending stayed at$0 , so growth is requiring very little reinvestment to become cash. That cash is not building on the balance sheet: FY2026 buybacks of$431.7M were more than double net income of$196.1M , which helps explain why equity shrank despite another profitable year.
Operating margin fell to
The balance sheet remains conservatively funded: current ratio was 6.1x and total liabilities were only
Financial Health Signals
Scored against operating companies for FY2026. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Doximity Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Doximity Inc has an operating margin of 33.3%, meaning the company retains $33 of operating profit per $100 of revenue. This strong profitability earns a score of 96/100, reflecting efficient cost management and pricing power. This is down from 39.9% the prior year.
Doximity Inc's revenue grew 13.1% year-over-year to $644.9M, a solid pace of expansion. This earns a growth score of 78/100.
Doximity Inc carries a low D/E ratio of 0.18, meaning only $0.18 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 75/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 6.09, Doximity Inc holds $6.09 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 93/100.
Doximity Inc converts 50.6% of revenue into free cash flow ($326.5M). This strong cash generation earns a score of 98/100.
Doximity Inc earns a strong 20.6% return on equity (ROE), meaning it generates $21 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 86/100. This is unchanged from the prior year.
Doximity Inc scores 17.92, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($4.6B) relative to total liabilities ($172.8M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Doximity Inc passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Doximity Inc generates $1.66 in operating cash flow ($326.5M OCF vs $196.1M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Doximity Inc generated $644.9M in revenue in fiscal year 2026. This represents an increase of 13.1% from the prior year.
Doximity Inc's EBITDA was $229.3M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 3.8% from the prior year.
Doximity Inc reported $196.1M in net income in fiscal year 2026. This represents a decrease of 12.1% from the prior year.
Doximity Inc earned $0.98 per diluted share (EPS) in fiscal year 2026. This represents a decrease of 11.7% from the prior year.
Cash & Balance Sheet
Doximity Inc generated $326.5M in free cash flow in fiscal year 2026, representing cash available after capex. This represents an increase of 19.5% from the prior year.
Doximity Inc held $219.2M in cash as of fiscal year 2026; long-term debt is not reported for that period.
Not reported for fiscal year 2026.
Margins & Returns
Doximity Inc's gross margin was 89.1% in fiscal year 2026, indicating the percentage of revenue retained after direct costs. This is down 1.1 percentage points from the prior year.
Doximity Inc's operating margin was 33.3% in fiscal year 2026, reflecting core business profitability. This is down 6.6 percentage points from the prior year.
Doximity Inc's net profit margin was 30.4% in fiscal year 2026, showing the share of revenue converted to profit. This is down 8.7 percentage points from the prior year.
Doximity Inc's ROE was 20.6% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. That is unchanged from the prior year.
Capital Allocation
Doximity Inc invested $130.7M in research and development in fiscal year 2026. This represents an increase of 40.5% from the prior year.
Doximity Inc spent $431.7M on share buybacks in fiscal year 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 258.8% from the prior year.
DOCS Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $655.6M | $644.9M+13.1% | $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 | $78.2M | $70.3M+25.9% | $55.9M+10.3% | $50.7M-5.3% | $53.5M+34.4% | $39.8M+27.5% | $31.2M+109.4% | $14.9M |
| Gross Profit | $577.3M | $574.5M+11.7% | $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 | $142.4M | $130.7M+40.5% | $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 | $68.6M | $65.3M+42.9% | $45.7M+20.7% | $37.8M+2.9% | $36.7M+2.8% | $35.7M+116.7% | $16.5M+121.6% | $7.4M |
| Operating Income | $194.0M | $214.9M-5.7% | $227.8M+39.0% | $163.9M+31.0% | $125.1M+10.2% | $113.5M+113.0% | $53.3M+140.5% | $22.2M |
| Income Tax | $59.2M | $54.0M+33.6% | $40.4M+7.4% | $37.6M+85.0% | $20.3M+149.9% | -$40.8M-639.5% | $7.6M+221.5% | -$6.2M |
| Net Income | $167.1M | $196.1M-12.1% | $223.2M+51.2% | $147.6M+30.9% | $112.8M-27.1% | $154.8M+208.3% | $50.2M+68.8% | $29.7M |
| EPS (Diluted) | — | $0.98-11.7% | $1.11+54.2% | $0.72+35.8% | $0.53-24.3% | $0.70 | $0.23+76.9% | $0.13 |
Not reported in any period shown, so not listed: Interest Expense.
TTM is the trailing twelve months, Q2 FY2026 through Q1 FY2027, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
DOCS Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|---|
| Total Assets | $1.1B-11.1% | $1.3B+17.1% | $1.1B-5.1% | $1.1B+14.7% | $991.4M+293.8% | $251.7M | N/A |
| Current Assets | $944.3M-13.3% | $1.1B+19.2% | $912.9M-6.4% | $975.5M+7.9% | $904.1M+331.8% | $209.4M | N/A |
| Cash & Equivalents | $219.2M+4.6% | $209.6M+116.6% | $96.8M-38.8% | $158.0M+40.1% | $112.8M+69.9% | $66.4M+37.1% | $48.4M |
| Accounts Receivable | $144.8M+12.8% | $128.4M+26.7% | $101.3M-5.3% | $107.0M+32.0% | $81.1M+61.1% | $50.3M | N/A |
| Goodwill | $85.0M+25.1% | $67.9M0.0% | $67.9M0.0% | $67.9M+259.2% | $18.9M0.0% | $18.9M | N/A |
| Total Liabilities | $172.8M-4.9% | $181.7M+2.1% | $178.0M+4.2% | $170.8M+51.4% | $112.8M-39.0% | $185.0M | N/A |
| Current Liabilities | $155.0M-0.8% | $156.3M+6.1% | $147.3M+5.6% | $139.5M+25.4% | $111.3M+9.1% | $102.0M | N/A |
| Total Equity | $950.8M-12.2% | $1.1B+20.1% | $901.4M-6.7% | $966.1M+10.0% | $878.6M+1216.4% | $66.7M+5775.3% | $1.1M |
| Retained Earnings | -$51.1M-127.3% | $186.9M+133.6% | $80.0M-63.3% | $217.9M+14.0% | $191.1M+426.1% | $36.3M | N/A |
Not reported in any period shown, so not listed: Inventory, Long-Term Debt.
DOCS Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $306.3M | $326.5M+19.5% | $273.3M+48.4% | $184.1M+2.5% | $179.6M+41.9% | $126.6M+52.5% | $83.0M+216.7% | $26.2M |
| Capital Expenditures | N/A | $0 | $0-100.0% | $147K-91.4% | $1.7M-11.0% | $1.9M+680.4% | $245K-14.0% | $285K |
| Free Cash Flow | N/A | $326.5M+19.5% | $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 | $257.5M | $147.2M+602.3% | -$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 | -$427.5M | -$464.1M-253.9% | -$131.1M+52.6% | -$276.5M-271.4% | -$74.5M-113.3% | $560.4M+10264.6% | $5.4M+214.5% | $1.7M |
| Share Buybacks | $400.9M | $431.7M+258.8% | $120.3M-57.1% | $280.7M+229.0% | $85.3M+3062.5% | $2.7M+33.4% | $2.0M | $0 |
Not reported in any period shown, so not listed: Dividends Paid.
TTM is the trailing twelve months, Q2 FY2026 through Q1 FY2027, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
DOCS Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 89.1%-1.1pp | 90.2%+0.9pp | 89.3%+2.1pp | 87.2%-1.2pp | 88.4%+3.5pp | 84.9%-2.3pp | 87.2% |
| Operating Margin | 33.3%-6.6pp | 39.9%+5.5pp | 34.5%+4.6pp | 29.9%-3.2pp | 33.1%+7.3pp | 25.8%+6.7pp | 19.0% |
| Net Margin | 30.4%-8.7pp | 39.1%+8.1pp | 31.1%+4.1pp | 26.9%-18.1pp | 45.1%+20.8pp | 24.3%-1.3pp | 25.6% |
| Return on Equity | 20.6%0.0pp | 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 | 17.4%-0.2pp | 17.6%+4.0pp | 13.7%+3.7pp | 9.9%-5.7pp | 15.6%-4.3pp | 20.0% | N/A |
| Current Ratio | 6.09-0.9x | 6.97+0.8x | 6.20-0.8x | 6.99-1.1x | 8.12+6.1x | 2.05 | N/A |
| Debt-to-Equity | 0.180.0x | 0.170.0x | 0.200.0x | 0.180.0x | 0.13-2.6x | 2.77 | N/A |
| FCF Margin | 50.6%+2.7pp | 47.9%+9.2pp | 38.7%-3.8pp | 42.4%+6.2pp | 36.3%-3.7pp | 40.0%+17.7pp | 22.3% |
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Where Doximity Inc Ranks
Frequently Asked Questions
What is Doximity Inc's annual revenue?
Doximity Inc (DOCS) reported $644.9M in total revenue for fiscal year 2026. This represents a 13.1% 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 13.1% year-over-year, from $570.4M to $644.9M in fiscal year 2026.
Is Doximity Inc profitable?
Yes, Doximity Inc (DOCS) reported a net income of $196.1M in fiscal year 2026, with a net profit margin of 30.4%.
What is Doximity Inc's EBITDA?
Doximity Inc (DOCS) had EBITDA of $229.3M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.
What is Doximity Inc's gross margin?
Doximity Inc (DOCS) had a gross margin of 89.1% in fiscal year 2026, 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 33.3% in fiscal year 2026, 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 30.4% in fiscal year 2026, 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 2026, measuring how efficiently the company generates profit from shareholder equity.
What is Doximity Inc's free cash flow?
Doximity Inc (DOCS) generated $326.5M in free cash flow during fiscal year 2026. This represents a 19.5% 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 $326.5M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.
What are Doximity Inc's total assets?
Doximity Inc (DOCS) had $1.1B in total assets as of fiscal year 2026, including both current and long-term assets.
What are Doximity Inc's capital expenditures?
Doximity Inc (DOCS) reported no capital expenditure during fiscal year 2026.
How much does Doximity Inc spend on research and development?
Doximity Inc (DOCS) invested $130.7M in research and development during fiscal year 2026.
What is Doximity Inc's current ratio?
Doximity Inc (DOCS) had a current ratio of 6.09 as of fiscal year 2026, which is generally considered healthy.
What is Doximity Inc's debt-to-equity ratio?
Doximity Inc (DOCS) had a debt-to-equity ratio of 0.18 as of fiscal year 2026, 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 17.4% for fiscal year 2026, 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 17.92, 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 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 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 1.66x, 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 88 out of 100 on our Financial Health Score, indicating strong standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.