Doximity, Inc. reported a revenue of $644.9 million for the fiscal year ending March 31, 2026, marking a 13% increase from $570.4 million in the previous year. The company's net income for the same period was $196.1 million, a decrease from $223.2 million in fiscal 2025. The decline in profitability was attributed to increased operating expenses, particularly in research and development, which rose by 40% to $130.7 million, and general and administrative expenses, which increased by 43% to $65.3 million. The company's adjusted EBITDA also grew to $357.8 million, reflecting a margin of 55%, consistent with the previous year.
Doximity's user base expanded significantly, with over 3 million registered members as of March 31, 2026, representing more than 85% of U.S. physicians. The company reported a net revenue retention rate of 109%, indicating strong customer loyalty and expansion within existing accounts. The number of customers generating over $500,000 in subscription revenue increased to 125, contributing approximately 83% of total revenue. The company also noted a rise in quarterly unique active providers using its workflow tools, which increased to 810,000, up from 620,000 the previous year.
Strategically, Doximity has focused on enhancing its product offerings, particularly through its Clinical AI Suite, which includes tools like Ask (formerly DoxGPT) and Scribe. The company completed the acquisition of Pathway Medical in July 2025, which is expected to bolster its AI capabilities. Doximity's business model continues to emphasize a physician-first approach, providing tools that streamline workflows and improve patient care.
The company has also been active in stock repurchases, completing a $500 million buyback program authorized in May 2024 and initiating another program of the same amount in February 2026. As of March 31, 2026, Doximity had repurchased approximately 3.3 million shares under these programs. The company ended the fiscal year with $748.6 million in cash and marketable securities, indicating a strong liquidity position to support future growth initiatives.
Looking ahead, Doximity anticipates continued growth driven by its expanding user base and product adoption. However, the company remains cautious about macroeconomic conditions that could impact customer spending, particularly in the pharmaceutical sector. The management emphasized the importance of maintaining operational efficiency and investing in technology to sustain its competitive edge in the evolving healthcare landscape.
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.
About 10-K Filings
A 10-K form is a comprehensive annual report that public companies in the United States must file with the SEC, providing a detailed overview of the company's financial condition, performance, and business strategies.
Key points about the 10-K:
- Frequency: Filed annually, typically within 60 to 90 days after the end of the company's fiscal year.
-
Content: It includes:
- Detailed financial statements audited by an independent accounting firm
- Management's Discussion and Analysis (MD&A) of financial condition and results
- Description of the company's business, properties, and legal proceedings
- Risk factors and market risks
- Executive compensation and corporate governance information
- Importance: Considered the most comprehensive and important document a public company files with the SEC.
- Length: Often exceeds 100 pages due to its extensive and detailed nature.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.