Doximity, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data Doximity, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2020	FY2022	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	116	207	344	419	475	570	645
Cost of revenue	14.9	31.2	39.8	53.5	50.7	55.9	70.3
Gross profit	101	176	304	366	425	515	575
Research and development	32.4	43.9	62.4	80.2	82	93	131
Selling and marketing	39.4	62	92.1	124	133	146	164
General and administrative	7.44	16.5	35.7	36.7	37.8	45.7	65.3
Operating expenses	79.3	122	190	240	261	287	360
Operating income	22.2	53.3	114	125	164	228	215
Other non-operating income	1.35	4.47	-0.45	-0.15	21.3	35.8	35.1
Pre-tax income	23.5	57.8	114	133	185	264	250
Income tax	-6.22	7.56	-40.8	20.3	37.6	40.4	54
Net income	29.7	50.2	155	113	148	223	196
EBITDA	23.1	57	119	135	174	238	229
EPS, basic	0.16	0.29	0.82	0.58	0.78	1.19	1.05
EPS, diluted	0.13	0.23	0.70	0.53	0.72	1.11	0.98
Shares, basic (weighted)	66.8	74.3	163	193	190	187	187
Shares, diluted (weighted)	81.7	95.1	191	213	206	201	199

Balance sheet

	FY2020	FY2022	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	48.4	66.4	113	158	96.8	210	219
Receivables		50.3	81.1	107	101	128	145
Other current assets		10.7	19.4	27.4	48.7	44.6	50.9
Total current assets		209	904	975	913	1,089	944
Property, plant and equipment		7.6	8.49	11.3	12.3	13.7	18.1
Lease right-of-use assets		1.34	1.09	13.8	12.3	8.89	7.14
Goodwill		18.9	18.9	67.9	67.9	67.9	85
Intangible assets		9.6	7.91	31.8	27.3	23.1	35.3
Other non-current assets		2.76	2.26	1.65	1.46	2.12	1.92
Total assets		252	991	1,137	1,079	1,264	1,124
Accounts payable		1.52	0.46	1.27	2.25	1.36	4.01
Accrued liabilities		16.3	25.3	31.2	43.7	38.4	42.8
Deferred revenue		83.3	84.9	105	99.1	114	106
Total current liabilities		102	111	140	147	156	155
Lease liabilities		0.28	0.45	13.9	12.4	10.2	8.08
Other non-current liabilities		0.97	0.96	1.24	7.22	9.38	9.4
Total liabilities		104	113	171	178	182	173
Paid-in capital		30.4	703	762	824	894	1,002
Retained earnings		36.3	191	218	80	187	-51.1
Other comprehensive income		-0.02	-15.3	-14.1	-2.66	1.32	0.03
Shareholders' equity	1.14	66.7	879	966	901	1,083	951
Total equity	1.14	66.7	879	966	901	1,083	951
Total liabilities and equity		252	991	1,137	1,079	1,264	1,124
Shares outstanding		82.9	192	194	187	189	183

Cash flow statement

	FY2020	FY2022	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	29.7	50.2	155	113	148	223	196
Depreciation and amortization	0.9	3.7	5.04	10.3	10.3	10.7	14.4
Stock-based compensation	2.35	7.25	31.4	47.8	51.1	72.4	122
Deferred income tax	-7.1	4.99	-41.2	13.2	-8.59	-11.6	32.1
Change in receivables	-12	-20.5	-31	-26.2	3.99	-27.2	-16.9
Change in payables	5.06	7.29	8.66	-0.2	8.33	-0.66	4.27
Cash from operations	26.2	83	127	180	184	273	326
Capital expenditures	-0.29	-0.25	-1.91	-1.7	-0.15	0	0
Acquisitions	0	-31.7	0	-53.5	0	0	-26.5
Purchases of investments	-79.1	-78.9	-1,317	-191	-473	-676	-389
Sales and maturities of investments	70.3	40.5	47.9	83.1	435	635	561
Cash from investing	-13.1	-70.4	-641	-59.9	31.2	-29.3	147
Stock issued	1.69	8.9	12.6
Share buybacks	0	-2.02	-2.7	-85.3	-281	-120	-432
Cash from financing	1.72	5.41	560	-74.5	-277	-131	-464
Net change in cash	14.8	18	46.4	45.2	-61.2	113	9.56
Free cash flow	25.9	82.7	125	178	184	273	326
Income taxes paid	1.24	5.97	0.21	5.23	51.3	55.7	21.8

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $26.35 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	88.1%	Gross profit / revenue.
Operating margin	29.6%	Operating income / revenue.
EBITDA margin	31.5%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	34.5%	Pre-tax income / revenue.
Net margin	25.5%	Net income / revenue.
Operating cash flow margin	46.7%	Cash from operations / revenue.
Effective tax rate	26.2%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	18.2%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	15.4%	Net income / average total assets.
Return on invested capital (ROIC)	22.3%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	21.7%	Research and development expense / revenue.
Stock-based pay / revenue	20.8%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	1.9%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	13.1%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	15.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	25.5%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	11.7%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	16.3%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	26.7%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-5.7%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	19.8%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	32.2%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-3.8%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	19.2%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	32.1%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-12.2%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	20.2%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	31.3%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-11.7%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	22.7%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	33.6%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	19.5%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	22.0%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	31.5%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	19.5%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	22.4%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	31.6%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-12.2%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-0.5%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	70.1%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-11.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-0.4%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	34.9%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-1.1%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-2.3%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	15.9%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	6.08x	Current assets / current liabilities.
Quick ratio	3.00x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.82x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	15.5%	Total liabilities / total assets.
Working capital	$763.6M	Current assets - current liabilities.
Goodwill and intangibles / assets	10.9%	(Goodwill + intangible assets) / total assets.
Tangible book value	$797.7M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.60x	Revenue / average total assets.
Fixed asset turnover	34.1x	Revenue / average property, plant and equipment.
Receivables turnover	3.69x	Revenue / average receivables.
Days sales outstanding	99 days	365 x average receivables / revenue.
Days payables	30 days	365 x average accounts payable / cost of revenue.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.87	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$3.43	Revenue / diluted weighted shares.
Operating cash flow per share	$1.60	Cash from operations / diluted weighted shares.
Book value per share	$5.09	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$4.44	Tangible book value / shares outstanding.
Cash per share	$1.52	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$4.70B	Share price x shares outstanding.
Enterprise value	$4.42B	Market cap + total debt - cash - short-term investments.
P/E	28.1x	Market cap / net income. Only when net income is positive.
P/S	7.16x	Market cap / revenue.
P/B	5.13x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	5.89x	Market cap / tangible book value, when positive.
P/OCF	15.3x	Market cap / cash from operations, when positive.
EV/Sales	6.75x	Enterprise value / revenue.
EV/EBIT	22.8x	Enterprise value / operating income, when both are positive.
EV/EBITDA	21.4x	Enterprise value / EBITDA, when both are positive.
Earnings yield	3.6%	Net income / market cap (the inverse of P/E).
Shareholder yield	8.5%	(Dividends paid + share buybacks) / market cap.
PEG	1.24x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was Doximity, Inc.'s revenue in fiscal 2026?

Doximity, Inc. reported revenue of $644.9M for fiscal 2026, 13.1% higher than the year before.

Was Doximity, Inc. profitable in fiscal 2026?

Yes. Net income was $196.1M, a net margin of 30.4%.

How much free cash flow did Doximity, Inc. generate in fiscal 2026?

Cash from operations of $326.5M minus capital expenditures of $0.0 left free cash flow of $326.5M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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