The earnings call highlighted Doximity's strong financial performance, user engagement, and growth in AI tools, while acknowledging challenges from macroeconomic uncertainty and tougher year-over-year comparisons. Overall, the positive aspects of growth and strategic achievements outweigh the concerns.

Company Guidance -

Q2 2026

During the Doximity Q4 2025 earnings call, the company reported strong financial performance and provided guidance for fiscal 2026. Doximity achieved $138 million in revenue for Q4, surpassing its guidance by 4%, and reported a full fiscal year revenue of $570 million, reflecting a 20% year-over-year growth. The company's top 20 clients, who grew at 23%, contributed significantly to this success. Doximity's adjusted EBITDA margin for Q4 was 50%, amounting to $70 million, and free cash flow reached $97 million, up 56% year-over-year. For the full fiscal year, adjusted EBITDA rose 36% to $314 million, with a 55% margin, and free cash flow was $267 million, a 50% increase. Looking ahead, Doximity expects fiscal 2026 revenue to range from $619 million to $631 million, with a projected adjusted EBITDA margin of 54%. The company continues to see strong engagement with its network, particularly with its newsfeed and workflow tools, and is investing in AI to enhance its offerings and drive efficiency.

Revenue Growth Exceeds Expectations

Doximity delivered $138 million in revenue for Q4 2025, 4% above the high-end of guidance. Full fiscal year revenue grew 20% year-over-year to $570 million.

Strong EBITDA and Cash Flow

Adjusted EBITDA margin was 50% for Q4 2025, with adjusted EBITDA growing 36% year-over-year to $314 million. Free cash flow was $97 million in Q4, up 56% year-over-year.

Record User Engagement

Unique active users on Doximity's platform hit fresh highs, with newsfeed users increasing more than 30% year-over-year.

AI Tools Driving Growth

Doximity's AI tools grew more than 5x year-over-year, with strong adoption of the Doximity GPT product.

Successful Client and Physician Summits

Doximity hosted successful summits, emphasizing AI tools and client portal insights, enhancing client engagement and strategic partnerships.

Doximity (DOCS) Earnings, Revenues Date & History

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DOCS Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 06, 2025	2026 (Q2)	0.37 / -	0.3	―	―	―
Aug 07, 2025	2026 (Q1)	0.30 / 0.36	0.28	28.57% (+0.08)	―
May 15, 2025	2025 (Q4)	0.27 / 0.38	0.25	52.00% (+0.13)	―
Feb 06, 2025	2025 (Q3)	0.34 / 0.45	0.29	55.17% (+0.16)	―
Nov 07, 2024	2025 (Q2)	0.26 / 0.30	0.22	36.36% (+0.08)	―
Aug 08, 2024	2025 (Q1)	0.22 / 0.28	0.19	47.37% (+0.09)	―
May 16, 2024	2024 (Q4)	0.20 / 0.25	0.2	25.00% (+0.05)	―
Feb 08, 2024	2024 (Q3)	0.24 / 0.29	0.22	31.82% (+0.07)	―
Nov 09, 2023	2024 (Q2)	0.17 / 0.22	0.17	29.41% (+0.05)	―
Aug 08, 2023	2024 (Q1)	0.14 / 0.19	0.14	35.71% (+0.05)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

DOCS Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 07, 2025	$58.55	$66.58	+13.71%
May 15, 2025	$58.45	$52.56	-10.08%
Feb 06, 2025	$58.26	$79.23	+35.99%
Nov 07, 2024	$43.42	$58.25	+34.15%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.