Doximity, Inc. reported its financial results for the third quarter of fiscal 2026, revealing a revenue of $185.1 million for the three months ended December 31, 2025, a 10% increase from $168.6 million in the same period last year. For the nine months ended December 31, 2025, revenue reached $499.5 million, reflecting a 16% year-over-year growth from $432.1 million. The company's net income for the quarter was $61.6 million, down from $75.2 million in the prior year, while net income for the nine-month period increased to $176.9 million from $160.7 million.

The decrease in quarterly net income was attributed to increased operating expenses, which rose to $94.5 million from $74.5 million a year earlier. This increase was driven by higher research and development costs, which surged by 54% to $34.6 million, and sales and marketing expenses, which grew by 10% to $42.2 million. General and administrative expenses also increased significantly, rising 30% to $17.7 million. Despite these rising costs, the company maintained a gross margin of 90% for both the three and nine-month periods.

Doximity's operational metrics showed a positive trend, with the number of customers generating over $500,000 in subscription revenue increasing to 126, up from 115 a year prior. The company reported a net revenue retention rate of 112%, down from 117% in the previous year, indicating a slight decline in customer expansion. The company continues to focus on enhancing its platform, which serves over 85% of U.S. physicians, by investing in technology and expanding its product offerings.

Strategically, Doximity completed the acquisition of Pathway Medical Inc. in July 2025 for $36.3 million, aimed at bolstering its AI capabilities. The acquisition included cash and stock-based compensation for Pathway employees. The company also repurchased $341.1 million worth of its Class A common stock as part of its ongoing buyback program, which has a total authorization of $500 million. Looking ahead, Doximity expects to leverage its strong cash position, with $735.1 million in cash and marketable securities as of December 31, 2025, to support future growth initiatives and potential acquisitions.

About Doximity, Inc.

Doximity is a leading digital platform serving U.S. medical professionals, offering a professional network, communication tools, and clinical workflow solutions. It provides members with networking, news, career management, and telehealth services, while enabling pharmaceutical companies and health systems to engage through marketing, hiring, and workflow solutions. Its physician-first approach and extensive network create a trusted ecosystem that enhances clinical productivity and healthcare collaboration.

This description was generated via AI from an annual report. Updated 8 months ago.

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