Doximity (DOCS) financial statements
Doximity reported revenue of $645M in fiscal 2026, up 33.0% a year over 6 years.
Net income was $196M and the operating margin 33.3%, against 19.0% in 2020.
Free cash flow was $318M, and the company returned $432M in net buybacks.
The diluted share count rose 144% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Doximity's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Revenue | $116M | $207M | $344M | $419M | $475M | $570M | $645M |
| Cost of revenue | $15M | $31M | $40M | $53M | $51M | $56M | $70M |
| Gross profit | $101M | $176M | $304M | $366M | $425M | $515M | $575M |
| Research and development | $32M | $44M | $62M | $80M | $82M | $93M | $131M |
| Selling, general and admin | $47M | $79M | $128M | $160M | $171M | $191M | $229M |
| Operating income | $22M | $53M | $114M | $125M | $164M | $228M | $215M |
| Pre-tax income | $24M | $58M | $114M | $133M | $185M | $264M | $250M |
| Income tax | -$6M | $8M | -$41M | $20M | $38M | $40M | $54M |
| Net income | $30M | $50M | $155M | $113M | $148M | $223M | $196M |
| EPS (diluted) | $0.13 | $0.23 | $0.70 | $0.53 | $0.72 | $1.11 | $0.98 |
| Diluted shares | 82M | 95M | 191M | 213M | 206M | 201M | 199M |
| Gross margin | 87.2% | 84.9% | 88.4% | 87.2% | 89.3% | 90.2% | 89.1% |
| Operating margin | 19.0% | 25.8% | 33.0% | 29.9% | 34.5% | 39.9% | 33.3% |
| Net margin | 25.5% | 24.3% | 45.1% | 26.9% | 31.0% | 39.1% | 30.4% |
Balance sheet
Fiscal years, from Doximity's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $48M | $66M | $708M | $809M | $97M | $210M | $219M |
| Receivables | — | $50M | $81M | $107M | $101M | $128M | $145M |
| Total current assets | — | $209M | $904M | $975M | $913M | $1.1B | $944M |
| Property, plant and equipment | — | $8M | $8M | $11M | $12M | $14M | $18M |
| Goodwill | — | $19M | $19M | $68M | $68M | $68M | $85M |
| Total assets | — | $252M | $991M | $1.1B | $1.1B | $1.3B | $1.1B |
| Total current liabilities | — | $102M | $111M | $140M | $147M | $156M | $155M |
| Total liabilities | — | $104M | $113M | $171M | $178M | $182M | $173M |
| Shareholders' equity | $1M | $67M | $879M | $966M | $901M | $1.1B | $951M |
| Net debt | -$48M | -$66M | -$113M | -$158M | -$97M | -$210M | -$219M |
Cash flow
Fiscal years, from Doximity's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | $26M | $83M | $127M | $180M | $184M | $273M | $326M |
| Capital spending | $4M | $5M | $6M | $6M | $6M | $7M | $9M |
| Free cash flow | $22M | $78M | $121M | $173M | $178M | $267M | $318M |
| Stock-based compensation | $2M | $7M | $31M | $48M | $51M | $72M | $122M |
| Share buybacks (net) | $0 | -$2M | -$3M | -$85M | -$281M | -$120M | -$432M |
| Free cash flow margin | 18.9% | 37.9% | 35.2% | 41.4% | 37.5% | 46.8% | 49.2% |
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Open DOCS in InvestinglyQuestions
What was Doximity's revenue in 2026?
$645M in fiscal 2026, from its 10-K filing.
How much free cash flow does Doximity generate?
$318M in fiscal 2026 (operating cash flow minus capital spending).
From Doximity's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.