Doximity, Inc. (DOCS) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 3, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q1 FY2027, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the DOCS SEC filings page.
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).
Doximity converts growth into cash, but FY2026 spending rose faster than revenue and compressed operating profitability.
FY2026 operating cash flow reached$326.5M against net income of$196.1M ; with zero reported capital spending, nearly all operating cash became free cash flow. That combination points to a cash-light operating model whose accounting earnings understate current cash generation.
Revenue reached
The balance sheet remained lightly leveraged and highly liquid, with debt-to-equity of 0.2x and a current ratio of 6.1x. Buybacks of
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 95/100, 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 76/100, 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 94/100.
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 19.27, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($5.0B) 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 $156.6M in revenue in Q1 2027. This represents an increase of 7.3% from the same quarter a year earlier. Against the prior quarter it is up 7.7%.
Doximity, Inc.'s EBITDA was $37.9M in Q1 2027, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 33.8% from the same quarter a year earlier. Against the prior quarter it is up 31.2%.
Doximity, Inc. reported $24.3M in net income in Q1 2027. This represents a decrease of 54.4% from the same quarter a year earlier. Against the prior quarter it is up 26.9%.
Doximity, Inc. earned $0.13 per diluted share (EPS) in Q1 2027. This represents a decrease of 51.9% from the same quarter a year earlier. Against the prior quarter it is up 30.0%.
Cash & Balance Sheet
Doximity, Inc. generated $41.9M in free cash flow in Q1 2027, representing cash available after capex. This represents a decrease of 32.5% from the same quarter a year earlier.
Doximity, Inc. held $273.6M in cash as of Q1 2027; long-term debt is not reported for that period.
Not reported for Q1 2027.
Margins & Returns
Doximity, Inc.'s gross margin was 84.9% in Q1 2027, indicating the percentage of revenue retained after direct costs. This is down 4.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.8 percentage points.
Doximity, Inc.'s operating margin was 21.5% in Q1 2027, reflecting core business profitability. This is down 15.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 4.4 percentage points.
Doximity, Inc.'s net profit margin was 15.5% in Q1 2027, showing the share of revenue converted to profit. This is down 21.0 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.3 percentage points.
Doximity, Inc.'s ROE was 2.6% in Q1 2027, measuring profit generated per dollar of shareholder equity. This is down 2.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.6 percentage points.
Capital Allocation
Doximity, Inc. invested $38.5M in research and development in Q1 2027. This represents an increase of 43.6% from the same quarter a year earlier. Against the prior quarter it is down 1.6%.
Doximity, Inc. spent $91.6M on share buybacks in Q1 2027, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 25.1% from the same quarter a year earlier. Against the prior quarter it is up 1.2%.
Doximity, Inc. invested $62K in capex in Q1 2027, funding long-term assets and infrastructure.
DOCS Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2710-Q | Q4'2610-Q | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $156.6M+7.3% | $145.4M+5.1% | $185.1M+9.8% | $168.5M+23.2% | $145.9M+15.2% | $138.3M+17.1% | $168.6M+24.6% | $136.8M+20.4% |
| Cost of Revenue | $23.7M+50.0% | $19.4M+34.1% | $18.7M+31.9% | $16.4M+20.1% | $15.8M+16.6% | $14.5M+15.1% | $14.2M+16.3% | $13.7M+7.2% |
| Gross Profit | $132.9M+2.2% | $126.0M+1.7% | $166.4M+7.7% | $152.1M+23.5% | $130.1M+15.0% | $123.8M+17.4% | $154.4M+25.5% | $123.2M+22.1% |
| R&D Expenses | $38.5M+43.6% | $39.1M+57.7% | $34.6M+54.3% | $30.2M+30.0% | $26.8M+18.7% | $24.8M+23.1% | $22.4M+12.4% | $23.2M+16.4% |
| SG&A Expenses | $15.8M+26.7% | $16.1M+26.7% | $17.7M+30.0% | $19.0M+88.5% | $12.4M+34.4% | $12.7M+27.6% | $13.6M+40.9% | $10.1M+12.7% |
| Operating Income | $33.6M-38.3% | $24.8M-49.0% | $71.9M-10.0% | $63.7M+19.8% | $54.5M+18.4% | $48.7M+16.3% | $79.9M+36.5% | $53.1M+57.3% |
| EBITDA | $37.9M-33.8% | $28.9M-43.9% | $75.9M-8.0% | $67.2M+20.5% | $57.3M+17.9% | $51.6M+16.1% | $82.5M+35.2% | $55.7M+53.2% |
| Income Tax | $16.0M+48.2% | $13.0M+420.1% | $19.2M+31.4% | $10.9M-39.6% | $10.8M-8.2% | -$4.1M-155.4% | $14.6M-2.9% | $18.0M+98.1% |
| Net Income | $24.3M-54.4% | $19.2M-69.3% | $61.6M-18.1% | $62.1M+40.6% | $53.3M+28.9% | $62.5M+53.7% | $75.2M+56.8% | $44.2M+44.3% |
| EPS (Basic) | $0.13-53.6% | $0.11-66.7% | $0.33-17.5% | $0.33+37.5% | $0.28+27.3% | $0.33+50.0% | $0.40+53.8% | $0.24+50.0% |
| EPS (Diluted) | $0.13-51.9% | $0.10-67.7% | $0.31-16.2% | $0.31+40.9% | $0.27+28.6% | $0.31+55.0% | $0.37+54.2% | $0.22+46.7% |
| Diluted Shares (Avg) | 191M-5.0% | N/A | 199M-1.5% | 201M+0.2% | 201M+1.0% | N/A | 202M+0.9% | 200M-4.1% |
Not reported in any period shown, so not listed: Interest Expense.
DOCS Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2710-Q | Q4'2610-Q | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.1B-10.0% | $1.1B-11.1% | $1.2B-1.3% | $1.3B+12.4% | $1.2B+12.2% | $1.3B+17.1% | $1.2B+17.1% | $1.1B+9.1% |
| Current Assets | $914.0M-11.6% | $944.3M-13.3% | $993.5M-1.9% | $1.1B+14.0% | $1.0B+13.8% | $1.1B+19.2% | $1.0B+20.4% | $957.7M+11.0% |
| Cash & Equivalents | $273.6M+99.3% | $219.2M+4.6% | $64.8M-60.8% | $169.2M-8.1% | $137.3M+23.2% | $209.6M+116.6% | $165.3M+34.3% | $184.2M+70.0% |
| Short-Term Investments | $414.2M-41.1% | $529.4M-25.0% | $670.3M-1.4% | $709.1M+14.1% | $703.7M+10.1% | $706.0M+6.0% | $679.7M+15.8% | $621.3M0.0% |
| Accounts Receivable | $177.6M+25.4% | $144.8M+12.8% | $156.6M+13.9% | $129.3M+3.6% | $141.7M+17.2% | $128.4M+26.7% | $137.5M+40.9% | $124.8M+28.4% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $85.0M+25.1% | $85.0M+25.1% | $85.0M+25.1% | $85.0M+25.1% | $67.9M0.0% | $67.9M0.0% | $67.9M0.0% | $67.9M0.0% |
| Total Liabilities | $167.8M-6.2% | $172.8M-4.9% | $177.7M+26.0% | $161.6M+2.7% | $178.9M+11.9% | $181.7M+2.1% | $141.0M+3.7% | $157.3M+2.1% |
| Current Liabilities | $150.4M-6.0% | $155.0M-0.8% | $149.8M+29.3% | $140.3M+6.0% | $159.9M+18.2% | $156.3M+6.1% | $115.9M+10.6% | $132.3M+7.4% |
| Non-Current Liabilities | $17.4M-8.1% | $17.9M-29.7% | $27.9M+10.8% | $21.3M-14.9% | $18.9M-23.0% | $25.4M-17.2% | $25.2M-19.6% | $25.0M-19.0% |
| Total Equity | $916.1M-10.7% | $950.8M-12.2% | $979.3M-5.0% | $1.1B+14.0% | $1.0B+12.3% | $1.1B+20.1% | $1.0B+19.3% | $961.2M+10.3% |
| Retained Earnings | -$119.0M-201.7% | -$51.1M-127.3% | $21.0M-86.1% | $157.7M+65.6% | $117.1M+60.6% | $186.9M+133.6% | $151.2M+147.9% | $95.2M+11.5% |
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. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2710-Q | Q4'2610-Q | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $42.0M-32.4% | $109.5M+11.2% | $60.9M-6.6% | $93.9M+37.5% | $62.1M+50.6% | $98.5M+54.0% | $65.2M+30.2% | $68.3M+429.9% |
| Depreciation & Amortization | $4.3M+53.4% | $4.1M+46.0% | $4.0M+53.8% | $3.5M+34.6% | $2.8M+9.1% | $2.8M+11.0% | $2.6M+4.0% | $2.6M0.0% |
| Stock-Based Compensation | $36.8M+68.1% | N/A | $33.5M+73.2% | $29.5M+65.0% | $21.9M+27.9% | N/A | $19.4M+64.5% | $17.9M+32.9% |
| Capital Expenditures | $62K | N/A | N/A | N/A | $0 | $0 | $0-100.0% | $0-100.0% |
| Free Cash Flow | $41.9M-32.5% | N/A | N/A | N/A | $62.1M+50.6% | $98.5M+54.0% | $65.2M+30.3% | $68.3M+431.6% |
| Investing Cash Flow | $113.0M+4117.6% | $138.0M+663.8% | $38.2M+164.9% | -$31.7M-231.3% | $2.7M-91.1% | -$24.5M+67.9% | -$58.9M-246.8% | $24.2M+148.2% |
| Financing Cash Flow | -$100.6M+26.7% | -$93.2M-214.0% | -$203.5M-706.3% | -$30.2M-53.5% | -$137.1M-142.6% | -$29.7M-110.8% | -$25.2M+66.6% | -$19.7M+87.8% |
| Share Buybacks | $91.6M-25.1% | $90.5M+237.9% | $196.9M+919.7% | $21.9M-4.7% | $122.4M+138.9% | $26.8M+51.0% | $19.3M-74.9% | $23.0M-86.0% |
Not reported in any period shown, so not listed: Dividends Paid.
DOCS Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2710-Q | Q4'2610-Q | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 84.9%-4.3pp | 86.7%-2.9pp | 89.9%-1.7pp | 90.3%+0.2pp | 89.2%-0.1pp | 89.5%+0.2pp | 91.6%+0.6pp | 90.0%+1.2pp |
| Operating Margin | 21.5%-15.9pp | 17.1%-18.1pp | 38.9%-8.5pp | 37.8%-1.1pp | 37.4%+1.0pp | 35.2%-0.3pp | 47.4%+4.1pp | 38.8%+9.1pp |
| Net Margin | 15.5%-21.0pp | 13.2%-32.0pp | 33.3%-11.3pp | 36.8%+4.6pp | 36.5%+3.9pp | 45.2%+10.8pp | 44.6%+9.2pp | 32.3%+5.3pp |
| Return on Equity | 2.6%-2.5pp | 2.0%-3.8pp | 6.3%-1.0pp | 5.7%+1.1pp | 5.2%+0.7pp | 5.8%+1.3pp | 7.3%+1.7pp | 4.6%+1.1pp |
| Return on Assets | 2.2%-2.2pp | 1.7%-3.2pp | 5.3%-1.1pp | 4.9%+1.0pp | 4.4%+0.6pp | 4.9%+1.2pp | 6.4%+1.6pp | 4.0%+1.0pp |
| Current Ratio | 6.08-0.4x | 6.09-0.9x | 6.63-2.1x | 7.79+0.5x | 6.47-0.2x | 6.97+0.8x | 8.74+0.7x | 7.24+0.2x |
| Debt-to-Equity | 0.180.0x | 0.180.0x | 0.180.0x | 0.150.0x | 0.170.0x | 0.170.0x | 0.140.0x | 0.160.0x |
| Asset Turnover | 0.140.0x | 0.130.0x | 0.160.0x | 0.130.0x | 0.120.0x | 0.110.0x | 0.140.0x | 0.120.0x |
| FCF Margin | 26.8%-15.8pp | N/A | N/A | N/A | 42.6%+10.0pp | 71.2%+17.1pp | 38.7%+1.7pp | 50.0%+38.6pp |
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Doximity, Inc. DOCS | FY2026 | $644.9M | $196.1M | 30.4% | $5.0B | 88/100 |
| Tempus AI, Inc. TEM | FY2025 | $1.3B | -$245.0M | -19.3% | $13.9B | 40/100 |
| GE HealthCare Technologies Inc. GEHC | FY2025 | $20.6B | $2.1B | 10.1% | $29.0B | 55/100 |
| Veeva Systems Inc. VEEV | FY2026 | $3.2B | $908.9M | 28.4% | $44.3B | 68/100 |
| HealthEquity, Inc HQY | FY2026 | $1.3B | $215.2M | 16.4% | $7.4B | 68/100 |
| Waystar Holding Corp. WAY | FY2025 | $1.1B | $112.1M | 10.2% | $4.8B | 59/100 |
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 P/E ratio?
Doximity, Inc. (DOCS) trades at 29.8x earnings, its market capitalization divided by net income of $167.1M net income, trailing 12 months to June 30, 2026. The market capitalization is $5.0B as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Doximity, Inc.'s price-to-sales ratio?
Doximity, Inc. (DOCS) trades at 7.6x sales, its market capitalization divided by revenue of $655.6M revenue, trailing 12 months to June 30, 2026. The market capitalization is $5.0B as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Doximity, Inc.'s Altman Z-Score?
Doximity, Inc. (DOCS) has an Altman Z-Score of 19.27, 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.