Doximity (DOCS) Financials

$18.92 +0.92 (+5.08%)

Closing price 05/15/2026 03:59 PM Eastern

Extended Trading

$18.80 -0.12 (-0.66%)

As of 05/15/2026 08:00 PM Eastern

Annual Income Statements for Doximity

This table shows Doximity's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	3/31/2020	3/31/2021	3/31/2022	3/31/2023	3/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	11	22	133	113	148	223
Consolidated Net Income / (Loss)	30	50	155	113	148	223
Net Income / (Loss) Continuing Operations	30	50	155	113	148	223
Total Pre-Tax Income	24	58	114	133	185	264
Total Operating Income	22	53	114	125	164	228
Total Gross Profit	101	176	304	366	425	515
Total Revenue	116	207	344	419	475	570
Operating Revenue	116	207	344	419	475	570
Total Cost of Revenue	15	31	40	53	51	56
Operating Cost of Revenue	15	31	40	53	51	56
Total Operating Expenses	79	122	190	240	261	287
Selling, General & Admin Expense	7.44	16	36	37	38	46
Marketing Expense	39	62	92	124	133	146
Research & Development Expense	32	44	62	80	82	93
Restructuring Charge	-	-	0.00	0.00	7.94	2.30
Total Other Income / (Expense), net	1.35	4.47	0.47	8.05	21	36
Other Income / (Expense), net	1.35	4.47	0.47	8.05	21	36
Income Tax Expense	-6.22	7.56	-41	20	38	40
Basic Earnings per Share	$0.16	$0.29	$0.82	$0.58	$0.78	$1.19
Weighted Average Basic Shares Outstanding	66.76M	74.34M	163.48M	193.18M	190.17M	186.84M
Diluted Earnings per Share	$0.13	$0.23	$0.70	$0.53	$0.72	$1.11
Weighted Average Diluted Shares Outstanding	81.71M	95.13M	191.02M	213.43M	205.73M	201.21M
Weighted Average Basic & Diluted Shares Outstanding	-	-	193.11M	194.67M	185.43M	187.83M

This table shows Doximity's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	28	31	48	41	41	44	75	62	53	62	62
Consolidated Net Income / (Loss)	28	31	48	41	41	44	75	62	53	62	62
Net Income / (Loss) Continuing Operations	28	31	48	41	41	44	75	62	53	62	62
Total Pre-Tax Income	35	40	63	48	53	62	90	58	64	73	81
Total Operating Income	30	34	59	42	46	53	80	49	55	64	72
Total Gross Profit	95	101	123	105	113	123	154	124	130	152	166
Total Revenue	108	114	135	118	127	137	169	138	146	169	185
Operating Revenue	108	114	135	118	127	137	169	138	146	169	185
Total Cost of Revenue	13	13	12	13	14	14	14	14	16	16	19
Operating Cost of Revenue	13	13	12	13	14	14	14	14	16	16	19
Total Operating Expenses	66	67	65	64	67	70	74	75	76	88	94
Selling, General & Admin Expense	9.25	8.97	9.64	9.97	9.26	10	14	13	12	19	18
Marketing Expense	34	30	35	34	35	34	38	38	36	39	42
Research & Development Expense	22	20	20	20	23	23	22	25	27	30	35
Impairment Charge	-	-	-	-	-	2.30	0.00	-	-	-	0.00
Total Other Income / (Expense), net	4.84	5.90	4.48	6.10	7.12	9.03	9.92	9.71	9.63	9.26	8.90
Other Income / (Expense), net	-	-	-	-	7.12	9.03	9.92	-	9.63	9.26	8.90
Income Tax Expense	6.12	9.09	15	7.34	12	18	15	-4.06	11	11	19
Basic Earnings per Share	$0.15	$0.16	$0.26	$0.21	$0.22	$0.24	$0.40	$0.33	$0.28	$0.33	$0.33
Weighted Average Basic Shares Outstanding	194.52M	193.11M	186.31M	190.17M	185.61M	186.25M	187.16M	186.84M	187.98M	187.71M	187.48M
Diluted Earnings per Share	$0.13	$0.15	$0.24	$0.20	$0.21	$0.22	$0.37	$0.31	$0.27	$0.31	$0.31
Weighted Average Diluted Shares Outstanding	212.36M	209.01M	200.46M	205.73M	199.22M	200.41M	202.23M	201.21M	201.16M	200.75M	199.22M
Weighted Average Basic & Diluted Shares Outstanding	194.71M	185.91M	186.55M	185.43M	185.66M	186.69M	187.64M	187.83M	187.30M	188.27M	184.71M

This table details how cash moves in and out of Doximity's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	3/31/2020	3/31/2021	3/31/2022	3/31/2023	3/31/2024	3/31/2025
Net Change in Cash & Equivalents	15	18	46	45	-61	113
Net Cash From Operating Activities	26	83	127	180	184	273
Net Cash From Continuing Operating Activities	26	83	127	180	184	273
Net Income / (Loss) Continuing Operations	30	50	155	113	148	223
Consolidated Net Income / (Loss)	30	50	155	113	148	223
Depreciation Expense	0.90	3.70	5.04	10	10	11
Amortization Expense	4.63	7.08	14	12	3.63	-1.69
Non-Cash Adjustments To Reconcile Net Income	4.30	5.39	34	52	54	77
Changes in Operating Assets and Liabilities, net	-13	17	-82	-7.81	-31	-36
Net Cash From Investing Activities	-13	-70	-641	-60	31	-29
Net Cash From Continuing Investing Activities	-13	-70	-641	-60	31	-29
Purchase of Property, Plant & Equipment	-4.24	-4.61	-5.70	-6.18	-5.80	-6.53
Acquisitions	0.00	-32	0.00	-54	0.00	0.00
Purchase of Investments	-79	-79	-1,317	-191	-473	-676
Sale and/or Maturity of Investments	70	41	682	190	510	653
Net Cash From Financing Activities	1.72	5.41	560	-74	-277	-131
Net Cash From Continuing Financing Activities	1.72	5.41	560	-74	-277	-131
Repurchase of Common Equity	0.00	-3.49	-6.68	-85	-281	-120
Issuance of Common Equity	0.00	8.90	568	15	16	23
Other Financing Activities, net	1.72	0.00	-0.82	-3.82	-12	-34
Cash Income Taxes Paid	1.24	5.97	0.21	5.23	51	56

This table details how cash moves in and out of Doximity's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Change in Cash & Equivalents	149	-198	15	-26	15	73	-19	44	-72	32	-104
Net Cash From Operating Activities	57	13	50	64	41	68	65	98	62	94	61
Net Cash From Continuing Operating Activities	57	13	50	65	41	68	65	98	62	94	61
Net Income / (Loss) Continuing Operations	28	31	48	41	41	44	75	62	53	62	62
Consolidated Net Income / (Loss)	28	31	48	41	41	44	75	62	53	62	62
Depreciation Expense	2.60	2.60	2.51	2.55	2.56	2.61	2.66	2.83	2.79	3.47	3.99
Amortization Expense	2.37	0.57	-0.14	0.83	0.37	-0.98	-1.58	0.50	1.41	0.68	0.74
Non-Cash Adjustments To Reconcile Net Income	14	14	13	13	17	21	20	18	22	30	33
Changes in Operating Assets and Liabilities, net	9.43	-35	-13	7.61	-20	1.30	-31	14	-17	-2.48	-38
Net Cash From Investing Activities	117	-50	40	-76	30	24	-59	-24	2.68	-32	38
Net Cash From Continuing Investing Activities	117	-50	40	-76	30	24	-59	-24	2.68	-32	38
Purchase of Property, Plant & Equipment	-1.56	-1.28	-1.32	-1.63	-1.70	-1.54	-1.77	-1.51	-1.97	-2.37	-2.31
Acquisitions	-	-	-	-	-	-	-	-	-	-	-0.06
Purchase of Investments	-35	-145	-101	-192	-170	-197	-164	-144	-140	-128	-113
Sale and/or Maturity of Investments	154	96	143	117	202	223	107	121	145	125	154
Net Cash From Financing Activities	-26	-161	-76	-14	-57	-20	-25	-30	-137	-30	-204
Net Cash From Continuing Financing Activities	-26	-161	-76	-14	-57	-20	-25	-30	-137	-30	-204
Repurchase of Common Equity	-22	-164	-77	-18	-51	-23	-19	-27	-122	-22	-197
Issuance of Common Equity	3.29	5.43	2.54	5.09	2.55	9.11	3.66	7.97	2.40	4.21	2.22
Other Financing Activities, net	-7.35	-2.12	-1.25	-1.42	-7.86	-5.83	-9.60	-11	-17	-13	-8.87
Cash Income Taxes Paid	0.00	29	8.93	13	13	9.08	14	20	4.98	14	1.68

This table presents Doximity's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024	2025
Period end date	3/31/2021	3/31/2022	3/31/2023	3/31/2024	3/31/2025
Total Assets	252	991	1,137	1,079	1,264
Total Current Assets	209	904	975	913	1,089
Cash & Equivalents	66	113	158	97	210
Short-Term Investments	76	685	683	666	706
Accounts Receivable	50	81	107	101	128
Prepaid Expenses	11	19	27	49	45
Plant, Property, & Equipment, net	7.60	8.49	11	12	14
Total Noncurrent Assets	35	79	150	154	162
Goodwill	19	19	68	68	68
Intangible Assets	9.60	7.91	32	27	23
Noncurrent Deferred & Refundable Income Taxes	2.11	49	35	45	60
Other Noncurrent Operating Assets	4.10	3.35	15	14	11
Total Liabilities & Shareholders' Equity	252	991	1,137	1,079	1,264
Total Liabilities	104	113	171	178	182
Total Current Liabilities	102	111	140	147	156
Accounts Payable	1.52	0.46	1.27	2.25	1.36
Accrued Expenses	16	25	31	44	38
Current Deferred Revenue	83	85	105	99	114
Other Current Liabilities	0.97	0.64	1.75	2.15	2.21
Total Noncurrent Liabilities	1.48	1.48	31	31	25
Noncurrent Deferred Revenue	0.22	0.08	0.20	0.21	0.28
Other Noncurrent Operating Liabilities	1.26	1.40	31	31	25
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	67	879	966	901	1,083
Total Preferred & Common Equity	67	879	966	901	1,083
Preferred Stock	0.00	0.00	0.00	0.00	0.00
Total Common Equity	67	879	966	901	1,083
Common Stock	30	703	762	824	894
Retained Earnings	36	191	218	80	187
Accumulated Other Comprehensive Income / (Loss)	-0.02	-15	-14	-2.66	1.32

This table presents Doximity's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	9/30/2022	12/31/2022	6/30/2023	9/30/2023	12/31/2023	6/30/2024	9/30/2024	12/31/2024	6/30/2025	9/30/2025	12/31/2025
Total Assets	1,028	1,067	1,154	1,026	1,001	1,073	1,119	1,172	1,204	1,257	1,157
Total Current Assets	848	899	990	863	841	908	958	1,013	1,034	1,092	993
Cash & Equivalents	74	136	307	108	123	111	184	165	137	169	65
Short-Term Investments	676	665	566	621	587	639	621	680	704	709	670
Accounts Receivable	79	75	93	97	98	121	125	138	142	129	157
Prepaid Expenses	16	17	20	33	27	37	27	30	52	85	102
Plant, Property, & Equipment, net	12	12	12	12	12	13	13	13	14	16	17
Total Noncurrent Assets	169	157	152	151	148	152	148	146	156	149	147
Goodwill	68	68	68	68	68	68	68	68	68	85	85
Intangible Assets	34	33	31	29	28	26	25	24	22	39	37
Noncurrent Deferred & Refundable Income Taxes	51	40	39	39	37	45	44	43	55	15	15
Other Noncurrent Operating Assets	16	16	15	14	14	13	11	11	10	10	9.44
Total Liabilities & Shareholders' Equity	1,028	1,067	1,154	1,026	1,001	1,073	1,119	1,172	1,204	1,257	1,157
Total Liabilities	149	137	163	154	136	160	157	141	179	162	178
Total Current Liabilities	118	106	133	123	105	135	132	116	160	140	150
Accounts Payable	1.11	1.60	0.58	0.71	1.88	1.66	2.77	1.64	1.96	4.39	4.79
Accrued Expenses	26	33	32	29	34	28	34	43	38	34	77
Current Deferred Revenue	90	70	98	91	67	103	94	69	117	100	66
Other Current Liabilities	1.01	1.46	2.05	1.94	2.11	2.19	2.22	2.26	2.17	2.12	2.08
Total Noncurrent Liabilities	31	31	30	31	31	25	25	25	19	21	28
Noncurrent Deferred Revenue	0.17	0.14	0.19	0.24	0.17	0.12	0.15	0.07	0.12	0.26	0.17
Other Noncurrent Operating Liabilities	31	31	30	31	25	24	25	25	19	21	28
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	879	930	991	871	865	914	961	1,031	1,026	1,096	979
Total Preferred & Common Equity	879	930	991	871	865	914	961	1,031	1,026	1,096	979
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	879	930	991	871	865	914	961	1,031	1,026	1,096	979
Common Stock	731	746	778	795	808	842	863	879	907	936	957
Retained Earnings	170	203	225	85	61	73	95	151	117	158	21
Accumulated Other Comprehensive Income / (Loss)	-22	-19	-12	-8.93	-4.65	-1.01	2.68	1.02	1.18	1.48	1.40

This table displays calculated financial ratios and metrics derived from Doximity's official financial filings.

Metric	2020	2021	2022	2023	2024	2025
Period end date	3/31/2020	3/31/2021	3/31/2022	3/31/2023	3/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-
Revenue Growth	0.00%	77.76%	66.05%	21.98%	13.45%	19.98%
EBITDA Growth	0.00%	136.03%	94.21%	16.68%	28.17%	36.89%
EBIT Growth	0.00%	145.68%	97.35%	16.80%	39.09%	42.32%
NOPAT Growth	0.00%	65.29%	232.73%	-31.23%	23.20%	47.71%
Net Income Growth	0.00%	68.85%	208.27%	-27.11%	30.81%	51.23%
EPS Growth	0.00%	76.92%	204.35%	-24.29%	35.85%	54.17%
Operating Cash Flow Growth	0.00%	216.70%	52.55%	41.89%	2.50%	48.44%
Free Cash Flow Firm Growth	0.00%	0.00%	95.10%	-22.65%	91.01%	40.29%
Invested Capital Growth	0.00%	0.00%	1,320.17%	55.46%	10.69%	20.55%
Revenue Q/Q Growth	0.00%	0.00%	8.52%	4.31%	1.51%	3.68%
EBITDA Q/Q Growth	0.00%	0.00%	5.32%	9.02%	16.78%	18.50%
EBIT Q/Q Growth	0.00%	0.00%	4.41%	10.79%	19.59%	19.28%
NOPAT Q/Q Growth	0.00%	0.00%	11.00%	-7.75%	6.58%	9.75%
Net Income Q/Q Growth	0.00%	0.00%	10.92%	-5.10%	7.23%	10.85%
EPS Q/Q Growth	0.00%	0.00%	2.94%	-5.36%	7.46%	11.00%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	8.03%	-0.18%	10.38%	14.47%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	4.07%	20.39%	14.22%
Invested Capital Q/Q Growth	0.00%	0.00%	9.84%	-3.17%	-10.29%	-10.32%
Profitability Metrics	-	-	-	-	-	-
Gross Margin	87.20%	84.92%	88.42%	87.24%	89.34%	90.20%
EBITDA Margin	24.95%	33.13%	38.75%	37.07%	41.88%	47.78%
Operating Margin	19.04%	25.76%	33.05%	29.86%	34.47%	39.94%
EBIT Margin	20.20%	27.92%	33.18%	31.78%	38.96%	46.21%
Profit (Net Income) Margin	25.55%	24.27%	45.05%	26.92%	31.04%	39.13%
Tax Burden Percent	126.47%	86.92%	135.77%	84.73%	79.69%	84.68%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	-26.47%	13.08%	-35.77%	15.27%	20.31%	15.32%
Return on Invested Capital (ROIC)	0.00%	1,635.02%	357.86%	103.11%	99.08%	126.30%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	1,629.58%	357.73%	102.28%	96.96%	122.69%
Return on Net Nonoperating Assets (RNNOA)	0.00%	-1,567.26%	-327.72%	-90.88%	-83.27%	-103.80%
Return on Equity (ROE)	0.00%	67.76%	30.15%	12.23%	15.81%	22.50%
Cash Return on Invested Capital (CROIC)	0.00%	1,435.02%	184.18%	59.69%	88.93%	107.66%
Operating Return on Assets (OROA)	0.00%	22.95%	18.34%	12.51%	16.71%	22.49%
Return on Assets (ROA)	0.00%	19.95%	24.90%	10.60%	13.32%	19.05%
Return on Common Equity (ROCE)	0.00%	30.52%	27.76%	12.23%	15.81%	22.50%
Return on Equity Simple (ROE_SIMPLE)	0.00%	75.23%	17.62%	11.68%	16.37%	20.62%
Net Operating Profit after Tax (NOPAT)	28	46	154	106	131	193
NOPAT Margin	24.08%	22.39%	44.87%	25.30%	27.47%	33.82%
Net Nonoperating Expense Percent (NNEP)	0.00%	5.45%	0.14%	0.83%	2.12%	3.61%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	17.82%
Cost of Revenue to Revenue	12.80%	15.08%	11.58%	12.76%	10.66%	9.80%
SG&A Expenses to Revenue	6.39%	7.97%	10.41%	8.77%	7.96%	8.01%
R&D to Revenue	27.87%	21.21%	18.15%	19.14%	17.24%	16.31%
Operating Expenses to Revenue	68.16%	59.16%	55.37%	57.38%	54.87%	50.27%
Earnings before Interest and Taxes (EBIT)	24	58	114	133	185	264
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	29	69	133	155	199	273
Valuation Ratios	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	9.08	11.34	6.49	5.57	10.06
Price to Tangible Book Value (P/TBV)	0.00	15.85	11.70	7.24	6.23	10.98
Price to Revenue (P/Rev)	5.21	2.93	29.01	14.96	10.56	19.09
Price to Earnings (P/E)	55.94	28.10	74.78	55.56	34.02	48.79
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	1.79%	3.56%	1.34%	1.80%	2.94%	2.05%
Enterprise Value to Invested Capital (EV/IC)	0.00	96.12	113.91	43.38	30.74	59.73
Enterprise Value to Revenue (EV/Rev)	0.00	2.63	26.68	12.95	8.95	17.48
Enterprise Value to EBITDA (EV/EBITDA)	0.00	7.95	68.86	34.94	21.38	36.59
Enterprise Value to EBIT (EV/EBIT)	0.00	9.43	80.41	40.76	22.99	37.84
Enterprise Value to NOPAT (EV/NOPAT)	0.00	11.76	59.47	51.20	32.60	51.70
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	6.57	72.43	30.22	23.13	36.50
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	13.40	115.56	88.45	36.32	60.65
Leverage & Solvency	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	0.00	-0.96	-0.92	-0.89	-0.86	-0.85
Leverage Ratio	0.00	1.70	1.21	1.15	1.19	1.18
Compound Leverage Factor	0.00	1.70	1.21	1.15	1.19	1.18
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	54.96%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	45.04%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	0.00	5.80	54.98	23.93	18.89	38.19
Noncontrolling Interest Sharing Ratio	0.00%	54.96%	7.93%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-
Current Ratio	0.00	2.05	8.12	6.99	6.20	6.97
Quick Ratio	0.00	1.89	7.90	6.80	5.87	6.68
Cash Flow Metrics	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	41	79	61	117	164
Operating Cash Flow to CapEx	617.32%	1,799.85%	2,221.78%	2,904.30%	3,173.52%	4,187.97%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-
Asset Turnover	0.00	0.82	0.55	0.39	0.43	0.49
Accounts Receivable Turnover	0.00	4.11	5.23	4.46	4.56	4.97
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	27.23	42.71	42.40	40.30	43.92
Accounts Payable Turnover	0.00	20.59	40.23	61.66	28.75	30.96
Days Sales Outstanding (DSO)	0.00	88.77	69.80	81.93	79.99	73.49
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	17.73	9.07	5.92	12.70	11.79
Cash Conversion Cycle (CCC)	0.00	71.05	60.73	76.01	67.29	61.70
Capital & Investment Metrics	-	-	-	-	-	-
Invested Capital	0.00	5.67	80	125	138	167
Invested Capital Turnover	0.00	73.02	7.98	4.08	3.61	3.73
Increase / (Decrease) in Invested Capital	0.00	5.67	75	45	13	28
Enterprise Value (EV)	0.00	545	9,167	5,427	4,257	9,973
Market Capitalization	606	606	9,966	6,268	5,020	10,889
Book Value per Share	$0.00	$0.90	$4.59	$4.99	$4.83	$5.77
Tangible Book Value per Share	$0.00	$0.51	$4.45	$4.48	$4.32	$5.28
Total Capital	0.00	148	879	966	901	1,083
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	0.00	-143	-798	-841	-763	-916
Capital Expenditures (CapEx)	4.24	4.61	5.70	6.18	5.80	6.53
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-35	-5.26	-5.05	2.79	17
Debt-free Net Working Capital (DFNWC)	0.00	107	793	836	766	932
Net Working Capital (NWC)	0.00	107	793	836	766	932
Net Nonoperating Expense (NNE)	-1.71	-3.88	-0.64	-6.82	-17	-30
Net Nonoperating Obligations (NNO)	0.00	-143	-798	-841	-763	-916
Total Depreciation and Amortization (D&A)	5.53	11	19	22	14	8.97
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-17.00%	-1.53%	-1.21%	0.59%	2.93%
Debt-free Net Working Capital to Revenue	0.00%	51.89%	230.78%	199.49%	161.06%	163.46%
Net Working Capital to Revenue	0.00%	51.89%	230.78%	199.49%	161.06%	163.46%
Earnings Adjustments	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.82	$0.58	$0.78	$1.19
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	163.48M	193.18M	190.17M	186.84M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.70	$0.53	$0.72	$1.11
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	191.02M	213.43M	205.73M	201.21M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	193.11M	194.67M	185.43M	187.83M
Normalized Net Operating Profit after Tax (NOPAT)	16	46	79	106	137	195
Normalized NOPAT Margin	13.33%	22.39%	23.13%	25.30%	28.80%	34.16%
Pre Tax Income Margin	20.20%	27.92%	33.18%	31.78%	38.96%	46.21%
Debt Service Ratios	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	6.95%	4.32%	75.63%	190.21%	53.90%

This table displays calculated financial ratios and metrics derived from Doximity's official financial filings.

Metric	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	19.67%	11.18%	17.37%	6.39%	16.79%	20.44%	24.63%	17.14%	15.19%	23.16%	9.76%
EBITDA Growth	22.57%	-2.68%	41.39%	19.19%	41.34%	48.20%	32.95%	14.99%	21.84%	20.81%	-5.93%
EBIT Growth	36.90%	5.27%	52.14%	27.44%	55.15%	57.26%	36.50%	16.31%	20.65%	17.32%	-10.06%
NOPAT Growth	13.17%	1.86%	41.61%	29.23%	46.74%	44.87%	50.17%	46.88%	26.44%	43.56%	-18.12%
Net Income Growth	26.91%	16.36%	43.29%	32.44%	45.66%	44.28%	56.80%	53.77%	28.86%	40.55%	-18.14%
EPS Growth	30.00%	25.00%	50.00%	33.33%	61.54%	46.67%	54.17%	55.00%	28.57%	40.91%	-16.22%
Operating Cash Flow Growth	27.82%	-67.36%	2.79%	37.10%	-27.90%	429.90%	30.24%	54.02%	50.57%	37.45%	-6.59%
Free Cash Flow Firm Growth	131.98%	118.25%	179.16%	228.28%	-129.46%	76.84%	81.08%	6.95%	346.77%	-130.97%	-109.16%
Invested Capital Growth	-6.59%	9.80%	19.48%	10.69%	38.67%	9.90%	20.60%	20.55%	13.20%	39.53%	31.15%
Revenue Q/Q Growth	-2.25%	4.74%	19.08%	-12.73%	7.30%	8.02%	23.22%	-17.98%	5.51%	15.50%	9.81%
EBITDA Q/Q Growth	-8.68%	6.66%	64.82%	-25.76%	8.29%	11.84%	47.86%	-35.78%	31.41%	12.78%	10.95%
EBIT Q/Q Growth	-9.62%	13.84%	73.27%	-28.52%	10.04%	15.39%	50.40%	-39.09%	31.77%	13.71%	10.77%
NOPAT Q/Q Growth	-10.96%	6.66%	71.00%	-20.42%	1.10%	5.31%	77.25%	-22.17%	-12.97%	19.57%	1.10%
Net Income Q/Q Growth	-7.38%	7.73%	56.71%	-15.30%	1.87%	6.71%	70.30%	-16.94%	-14.63%	16.39%	-0.81%
EPS Q/Q Growth	-13.33%	15.38%	60.00%	-16.67%	5.00%	4.76%	68.18%	-16.22%	-12.90%	14.81%	0.00%
Operating Cash Flow Q/Q Growth	22.64%	-77.45%	288.08%	27.75%	-35.50%	65.72%	-4.62%	51.08%	-36.95%	51.28%	-35.18%
Free Cash Flow Firm Q/Q Growth	290.19%	-59.02%	44.50%	13.88%	-143.67%	346.05%	47.97%	-32.74%	0.77%	-130.88%	56.21%
Invested Capital Q/Q Growth	-6.00%	20.40%	9.01%	-10.29%	17.76%	-4.57%	19.62%	-10.32%	10.58%	17.63%	12.44%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	87.87%	88.77%	90.99%	89.36%	89.30%	90.01%	91.59%	89.54%	89.18%	90.25%	89.89%
EBITDA Margin	31.95%	32.54%	45.03%	38.31%	38.67%	40.03%	48.04%	37.61%	46.84%	45.74%	46.21%
Operating Margin	27.37%	29.74%	43.28%	35.45%	36.36%	38.84%	47.40%	35.20%	37.36%	37.79%	38.85%
EBIT Margin	27.37%	29.74%	43.28%	35.45%	36.36%	38.84%	47.40%	35.20%	43.96%	43.28%	43.66%
Profit (Net Income) Margin	26.19%	26.94%	35.45%	34.41%	32.66%	32.27%	44.60%	45.17%	36.54%	36.82%	33.27%
Tax Burden Percent	82.28%	77.09%	76.08%	84.70%	77.82%	71.02%	83.70%	106.96%	83.12%	85.08%	76.19%
Interest Burden Percent	116.30%	117.47%	107.65%	114.58%	115.45%	116.99%	112.41%	119.95%	100.00%	100.00%	100.00%
Effective Tax Rate	17.72%	22.91%	23.92%	15.30%	22.18%	28.98%	16.30%	-6.96%	16.88%	14.92%	23.81%
Return on Invested Capital (ROIC)	80.79%	75.98%	108.76%	108.31%	99.50%	95.92%	128.20%	140.62%	105.33%	107.17%	87.73%
ROIC Less NNEP Spread (ROIC-NNEP)	80.31%	75.37%	108.31%	107.67%	98.82%	95.08%	127.13%	139.38%	104.32%	106.23%	86.88%
Return on Net Nonoperating Assets (RNNOA)	-69.98%	-63.72%	-91.20%	-92.47%	-84.26%	-79.66%	-104.29%	-117.92%	-85.62%	-86.98%	-68.28%
Return on Equity (ROE)	10.81%	12.27%	17.56%	15.84%	15.25%	16.26%	23.91%	22.70%	19.71%	20.19%	19.46%
Cash Return on Invested Capital (CROIC)	96.29%	71.44%	68.66%	88.93%	68.75%	93.87%	84.54%	107.66%	104.00%	84.41%	69.20%
Operating Return on Assets (OROA)	10.85%	12.98%	19.61%	15.21%	16.12%	18.72%	24.01%	17.13%	22.76%	22.64%	23.91%
Return on Assets (ROA)	10.38%	11.76%	16.06%	14.76%	14.48%	15.56%	22.59%	21.98%	18.92%	19.26%	18.22%
Return on Common Equity (ROCE)	10.81%	12.27%	17.56%	15.84%	15.25%	16.26%	23.91%	22.70%	19.71%	20.19%	19.46%
Return on Equity Simple (ROE_SIMPLE)	11.99%	14.13%	15.92%	0.00%	17.57%	18.11%	19.53%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	24	26	45	35	36	38	67	52	45	54	55
NOPAT Margin	22.52%	22.93%	32.93%	30.03%	28.29%	27.58%	39.68%	37.65%	31.06%	32.15%	29.60%
Net Nonoperating Expense Percent (NNEP)	0.48%	0.62%	0.45%	0.64%	0.68%	0.84%	1.07%	1.24%	1.01%	0.94%	0.86%
Return On Investment Capital (ROIC_SIMPLE)	-	-	5.15%	-	-	-	6.49%	4.81%	4.42%	4.95%	5.59%
Cost of Revenue to Revenue	12.13%	11.23%	9.01%	10.64%	10.70%	9.99%	8.41%	10.46%	10.82%	9.75%	10.11%
SG&A Expenses to Revenue	8.53%	7.89%	7.13%	8.45%	7.31%	7.38%	8.06%	9.20%	8.52%	11.30%	9.54%
R&D to Revenue	20.22%	17.57%	14.74%	17.07%	17.82%	16.98%	13.30%	17.94%	18.37%	17.92%	18.69%
Operating Expenses to Revenue	60.51%	59.03%	47.71%	53.90%	52.95%	51.17%	44.18%	54.34%	51.81%	52.47%	51.04%
Earnings before Interest and Taxes (EBIT)	30	34	59	42	46	53	80	49	64	73	81
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	35	37	61	45	49	55	81	52	68	77	86
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	6.68	4.74	6.03	5.57	5.68	8.42	9.67	10.06	11.23	12.51	8.51
Price to Tangible Book Value (P/TBV)	7.42	5.34	6.79	6.23	6.33	9.32	10.61	10.98	12.31	14.10	9.73
Price to Revenue (P/Rev)	15.16	9.22	11.13	10.56	10.51	15.65	18.12	19.09	19.54	22.05	13.07
Price to Earnings (P/E)	55.73	33.55	37.88	34.02	32.30	46.46	49.50	48.79	49.00	54.15	34.82
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	1.79%	2.98%	2.64%	2.94%	3.10%	2.15%	2.02%	2.05%	2.04%	1.85%	2.87%
Enterprise Value to Invested Capital (EV/IC)	48.88	24.02	29.17	30.74	27.20	46.80	49.00	59.73	57.85	59.05	31.13
Enterprise Value to Revenue (EV/Rev)	13.16	7.59	9.61	8.95	8.99	14.09	16.58	17.48	18.11	20.64	11.92
Enterprise Value to EBITDA (EV/EBITDA)	37.41	22.29	26.41	21.38	23.09	34.70	39.66	36.59	37.50	43.02	25.97
Enterprise Value to EBIT (EV/EBIT)	43.19	25.24	29.07	22.99	24.61	36.49	41.28	37.84	38.90	44.94	27.51
Enterprise Value to NOPAT (EV/NOPAT)	52.77	31.13	36.75	32.60	31.25	47.44	51.90	51.70	52.78	58.58	36.74
Enterprise Value to Operating Cash Flow (EV/OCF)	29.94	20.56	27.00	23.13	26.38	32.58	38.21	36.50	36.31	40.11	24.10
Enterprise Value to Free Cash Flow (EV/FCFF)	49.04	35.20	46.25	36.32	45.97	52.21	63.37	60.65	59.07	81.49	51.05
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.87	-0.85	-0.84	-0.86	-0.85	-0.84	-0.82	-0.85	-0.82	-0.82	-0.79
Leverage Ratio	1.16	1.17	1.15	1.19	1.17	1.17	1.15	1.18	1.17	1.16	1.16
Compound Leverage Factor	1.35	1.38	1.24	1.36	1.35	1.37	1.29	1.42	1.17	1.16	1.16
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	26.05	17.61	24.62	18.45	21.02	32.48	44.20	37.63	40.32	52.65	29.83
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	7.46	7.00	8.03	6.20	6.72	7.24	8.74	6.97	6.47	7.79	6.63
Quick Ratio	7.28	6.71	7.71	5.87	6.44	7.03	8.48	6.68	6.14	7.18	5.95
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	33	13	19	22	-9.64	24	35	24	24	-7.34	-3.22
Operating Cash Flow to CapEx	3,657.29%	1,008.44%	3,780.51%	3,913.34%	2,420.36%	4,429.42%	3,680.91%	6,535.30%	3,158.75%	3,965.56%	2,632.56%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.40	0.44	0.45	0.43	0.44	0.48	0.51	0.49	0.52	0.52	0.55
Accounts Receivable Turnover	5.17	5.08	5.43	4.56	4.62	4.66	4.68	4.97	4.49	4.89	4.34
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	37.96	38.27	40.10	40.30	40.28	42.02	43.46	43.92	43.45	43.56	41.78
Accounts Payable Turnover	71.52	58.37	29.72	28.75	45.64	29.84	30.70	30.96	32.13	17.00	20.37
Days Sales Outstanding (DSO)	70.57	71.83	67.20	79.99	79.06	78.39	77.98	73.49	81.27	74.64	84.15
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	5.10	6.25	12.28	12.70	8.00	12.23	11.89	11.79	11.36	21.47	17.92
Cash Conversion Cycle (CCC)	65.47	65.58	54.92	67.29	71.06	66.16	66.09	61.70	69.91	53.16	66.23
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	118	142	154	138	163	156	186	167	185	217	244
Invested Capital Turnover	3.59	3.31	3.30	3.61	3.52	3.48	3.23	3.73	3.39	3.33	2.96
Increase / (Decrease) in Invested Capital	-8.30	13	25	13	45	14	32	28	22	62	58
Enterprise Value (EV)	5,749	3,402	4,503	4,257	4,436	7,284	9,123	9,973	10,680	12,823	7,602
Market Capitalization	6,623	4,132	5,213	5,020	5,186	8,089	9,967	10,889	11,521	13,701	8,337
Book Value per Share	$5.09	$4.48	$4.65	$4.83	$4.93	$5.18	$5.52	$5.77	$5.46	$5.85	$5.20
Tangible Book Value per Share	$4.58	$3.98	$4.13	$4.32	$4.42	$4.68	$5.03	$5.28	$4.98	$5.19	$4.55
Total Capital	991	871	865	901	914	961	1,031	1,083	1,026	1,096	979
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-873	-730	-710	-763	-750	-806	-845	-916	-841	-878	-735
Capital Expenditures (CapEx)	1.56	1.28	1.32	1.63	1.70	1.54	1.77	1.51	1.97	2.37	2.31
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-16	9.79	26	2.79	23	20	52	17	33	74	108
Debt-free Net Working Capital (DFNWC)	857	740	736	766	773	825	897	932	874	952	844
Net Working Capital (NWC)	857	740	736	766	773	825	897	932	874	952	844
Net Nonoperating Expense (NNE)	-3.98	-4.55	-3.41	-5.17	-5.54	-6.41	-8.30	-10	-8.00	-7.88	-6.78
Net Nonoperating Obligations (NNO)	-873	-730	-710	-763	-750	-806	-845	-916	-841	-878	-735
Total Depreciation and Amortization (D&A)	4.97	3.17	2.37	3.38	2.93	1.64	1.07	3.33	4.20	4.15	4.72
Debt-free, Cash-free Net Working Capital to Revenue	-3.71%	2.18%	5.53%	0.59%	4.60%	3.84%	9.43%	2.93%	5.66%	11.84%	17.01%
Debt-free Net Working Capital to Revenue	196.15%	164.98%	157.18%	161.06%	156.63%	159.70%	163.01%	163.46%	148.28%	153.21%	132.27%
Net Working Capital to Revenue	196.15%	164.98%	157.18%	161.06%	156.63%	159.70%	163.01%	163.46%	148.28%	153.21%	132.27%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.15	$0.16	$0.26	$0.21	$0.22	$0.24	$0.40	$0.33	$0.28	$0.33	$0.33
Adjusted Weighted Average Basic Shares Outstanding	194.52M	193.11M	186.31M	190.17M	185.61M	186.25M	187.16M	186.84M	187.98M	187.71M	187.48M
Adjusted Diluted Earnings per Share	$0.13	$0.15	$0.24	$0.20	$0.21	$0.22	$0.37	$0.31	$0.27	$0.31	$0.31
Adjusted Weighted Average Diluted Shares Outstanding	212.36M	209.01M	200.46M	205.73M	199.22M	200.41M	202.23M	201.21M	201.16M	200.75M	199.22M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	194.71M	185.91M	186.55M	185.43M	185.66M	186.69M	187.64M	187.83M	187.30M	188.27M	184.71M
Normalized Net Operating Profit after Tax (NOPAT)	24	32	45	35	36	39	67	34	45	54	55
Normalized NOPAT Margin	22.52%	28.32%	32.93%	30.03%	28.29%	28.78%	39.68%	24.64%	31.06%	32.15%	29.60%
Pre Tax Income Margin	31.83%	34.94%	46.59%	40.62%	41.97%	45.44%	53.28%	42.23%	43.96%	43.28%	43.66%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	82.64%	163.60%	202.18%	190.21%	193.19%	96.91%	55.25%	53.90%	81.42%	75.22%	153.69%

Financials Breakdown Chart

Key Financial Trends

Here are the notable trends for Doximity (DOCS) based on quarterly statements from 2023 through 2026. Items are ordered with positives first, then neutral, then negatives.

Q3 2026 revenue rose to about $185.1 million, up from $168.6 million in Q3 2025 (roughly +9.8% year over year), signaling solid top-line momentum.
Gross margin remained very strong, with Q3 2026 gross profit around $166.35 million on $185.05 million revenue (roughly 89.9%), indicating solid pricing power and cost discipline.
Net cash from continuing operating activities stayed robust in 2026, typically around $60–68 million per quarter (e.g., $60.9 million in Q3 2026, $68.3 million in Q2 2026, $64.7 million in Q4 2024).
Liquidity is solid. As of Q3 2026, cash and short-term investments total about $735 million (Cash & Equivalents ≈ $64.8M + Short-Term Investments ≈ $670.3M), with Total Assets around $1.157 billion and Total Equity near $979 million, implying a strong balance sheet position and low near-term debt risk.
Operating profitability remains healthy, with Q3 2026 Operating Income about $71.9 million on revenue of $185.1 million (approximately 38.9% operating margin), supporting ongoing profitability despite high operating expenses.
Operating expenses are relatively elevated compared with revenue, with Marketing and Research & Development totaling around $76–77 million in Q3 2026 (Marketing ≈ $42.2M; R&D ≈ $34.6M), contributing to roughly half of revenue in that quarter. This indicates continued investment in growth, but lowers the near-term operating margin.
Earnings per share show some dispersion. Q3 2026 Basic EPS was about $0.33 and Diluted EPS about $0.31, which is lower than Q3 2025 levels (Basic ~ $0.40, Diluted ~ $0.37). This reflects quarterly variability in profitability and share counts.
Investing cash flows are variable. Q3 2026 showed net cash from continuing investing activities of about $38.2 million, reflecting a mix of investment sales and purchases that can swing quarter to quarter depending on timing of acquisitions and maturities.
Financing activity was meaningfully negative in Q3 2026 due to large share repurchases (repurchase of common equity around $196.9 million), which reduces cash and lowers liquidity in the near term if persistent.
Despite positive operating cash flow, the quarter recorded a sizable negative net change in cash and equivalents (about -$104.4 million in Q3 2026), driven by investing and financing outflows, signaling that heavy cash outlays can overwhelm quarterly cash generation when timing is unfavorable.

05/17/26 03:55 PM ETAI Generated. May Contain Errors.

Doximity Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Doximity's fiscal year ends in March. Their fiscal year 2025 ended on March 31, 2025.

Doximity's net income appears to be on an upward trend, with a most recent value of $223.19 million in 2025, rising from $29.74 million in 2020. The previous period was $147.58 million in 2024. Check out Doximity's forecast to explore projected trends and price targets.

Doximity's total operating income in 2025 was $227.80 million, based on the following breakdown:

Total Gross Profit: $514.53 million
Total Operating Expenses: $286.73 million

Over the last 5 years, Doximity's total revenue changed from $116.39 million in 2020 to $570.40 million in 2025, a change of 390.1%.

Doximity's total liabilities were at $181.68 million at the end of 2025, a 2.1% increase from 2024, and a 75.5% increase since 2021.

In the past 4 years, Doximity's cash and equivalents has ranged from $66.39 million in 2021 to $209.61 million in 2025, and is currently $209.61 million as of their latest financial filing in 2025.

Over the last 5 years, Doximity's book value per share changed from 0.00 in 2020 to 5.77 in 2025, a change of 577.0%.

Related Companies

Financial statements for NYSE:DOCS last updated on 2/6/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Doximity (DOCS) Financials

Financials Breakdown Chart

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Doximity (DOCS) Financials

Annual Income Statements for Doximity

Quarterly Income Statements for Doximity

Annual Cash Flow Statements for Doximity

Quarterly Cash Flow Statements for Doximity

Annual Balance Sheets for Doximity

Quarterly Balance Sheets for Doximity

Annual Metrics And Ratios for Doximity

Quarterly Metrics And Ratios for Doximity

Financials Breakdown Chart

Key Financial Trends

Doximity Financials - Frequently Asked Questions

When does Doximity's financial year end?

How has Doximity's net income changed over the last 5 years?

What is Doximity's operating income?

How has Doximity's revenue changed over the last 5 years?

How much debt does Doximity have?

How much cash does Doximity have?

How has Doximity's book value per share changed over the last 5 years?

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