Doximity demonstrated strong financial performance and user engagement, driven by revenue growth, robust EBITDA margins, and successful adoption of AI tools. Despite the strong results, the company remains cautious about potential macroeconomic challenges and tougher year-over-year comparisons.

Company Guidance -

Q4 2025

During Doximity's Q4 2025 earnings call, the company reported robust financial performance with a revenue of $138 million for the quarter, surpassing the high-end of their guidance by 4%, and a total annual revenue of $570 million, marking a 20% year-on-year increase. The top 20 clients grew by 23% while adjusted EBITDA margin stood at 50% for the quarter and 55% for the year, with free cash flow reaching $97 million, a 56% increase from the previous year. Doximity's network growth was driven by record highs in unique active users across all metrics, particularly for their newsfeed and AI tools, which grew fivefold year-on-year. The company hosted successful physician and pharma client summits, highlighting the adoption of their AI tools like Doximity GPT. For fiscal 2026, they anticipate revenue of $619-$631 million, reflecting a 10% growth, and an adjusted EBITDA of $333-$345 million, with a 54% margin, while 70% of subscription-based revenue is under contract. Doximity continues to invest in AI, aiming for long-term efficiency and growth, despite the macroeconomic uncertainties.

Revenue Growth Exceeds Expectations

Doximity reported $138 million in revenue for the fourth quarter, 4% above the high-end of the guidance range. For the full fiscal year, revenue was $570 million, representing a 20% year-on-year growth.

Strong EBITDA Performance

Adjusted EBITDA margin for the fourth quarter was 50%, translating to $70 million, which was 10% above the high-end of the guidance.

Record User Engagement

Unique active users across all timeframes hit fresh highs in Q4. Newsfeed user engagement saw record highs with articles read or tapped up more than 30% year-on-year.

AI Tools Rapid Growth

AI tools usage grew more than 5x year-on-year, indicating strong adoption and integration into medical workflows.

Successful Client Summits

Positive feedback from the 13th Annual Physician Tech Summit and the Annual Pharma Client Summit, with strong interest in AI-powered solutions.

Robust Free Cash Flow

Free cash flow for the fourth quarter was $97 million, up 56% year-on-year. For the full fiscal year, free cash flow was $267 million, an increase of 50% year-on-year.

Doximity (DOCS) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

DOCS Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 12, 2025	2026 (Q1)	0.30 / -	0.28	―	―	―
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)	―
May 16, 2023	2023 (Q4)	0.17 / 0.20	0.21	-4.76% (>-0.01)	―

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
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%
Aug 08, 2024	$25.66	$35.60	+38.74%

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.