---
title: "Doximity Announces Fourth Quarter and Fiscal Year 2026 Financial Results | DOCS Stock News"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286308967.md"
description: "Doximity, Inc. reported its fiscal year 2026 financial results, with total revenues of $644.9 million, a 13% increase year-over-year. The fourth quarter revenue was $145.4 million, up 5% from the previous year. Net income for the year was $196.1 million, down from $223.2 million. The company announced new partnerships and welcomed new executives. For fiscal Q1 2027, Doximity expects revenue between $151 million and $152 million. The company aims to enhance its digital platform for U.S. medical professionals, focusing on AI-driven tools and increased engagement among prescribers."
datetime: "2026-05-13T12:01:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286308967.md)
  - [en](https://longbridge.com/en/news/286308967.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286308967.md)
---

# Doximity Announces Fourth Quarter and Fiscal Year 2026 Financial Results | DOCS Stock News

_Fiscal year 2026 total revenues of $644.9 million, up 13% year-over-year_

_Fiscal year 2026 operating cash flows of $326.5 million_, _up 19% year-over-year_

_Fiscal year 2026 free cash flow of $317.5 million, up 19% year-over-year_

SAN FRANCISCO--(BUSINESS WIRE)--Doximity, Inc. (NYSE: DOCS), the leading digital platform for U.S. medical professionals, today announced results of its fiscal 2026 fourth quarter and fiscal year ended March 31, 2026.

“We’re thrilled to announce that we reached a new engagement record of over 800,000 active prescribers using our workflow tools in Q4. Nearly half of those providers used our clinical AI last quarter, while our prompts per user nearly doubled from January to April alone,” said Jeff Tangney, co-founder and CEO of Doximity.

“Our new partnerships with Aledade and Photon build on that momentum, bringing our Clinical AI Suite to thousands of independent practices and enabling seamless in-workflow prescribing for the first time. I'm also thrilled to welcome Matt Sonefeldt as our new CFO and Dr. Steve Zatz as our new President, two exceptional leaders whose experience and relationships will be instrumental as we continue to scale.”

**Fiscal 2026 Fourth Quarter Financial Highlights**

All comparisons, unless otherwise noted, are to the three months ended March 31, 2025.

-   **Revenue:** Revenue of $145.4 million, versus $138.3 million, an increase of 5% year-over-year.
-   **Net income and non-GAAP net income:** Net income of $19.1 million, versus $62.5 million, representing a margin of 13.1%, versus 45.2%. Non-GAAP net income of $49.8 million, versus $77.7 million, representing a margin of 34.2%, versus 56.2%.
-   **Adjusted EBITDA:** Adjusted EBITDA of $65.8 million, versus $69.7 million, a decrease of 6% year-over-year, representing adjusted EBITDA margins of 45.3%, versus 50.4%.
-   **Diluted net income per share and non-GAAP diluted net income per share:** Diluted net income per share was $0.10, versus $0.31, while non-GAAP diluted net income per share was $0.26, versus $0.38.
-   **Operating cash flow and free cash flow**: Operating cash flow of $109.5 million, versus $98.5 million, an increase of 11% year-over-year, and free cash flow of $107.3 million, versus $97.0 million, an increase of 11% year-over-year.

**Fiscal Year** **2026 Financial Highlights**

All comparisons, unless otherwise noted, are to the fiscal year ended March 31, 2025.

-   **Revenue:** Revenue of $644.9 million, versus $570.4 million, an increase of 13% year-over-year.
-   **Net income and non-GAAP net income:** Net income of $196.1 million, versus $223.2 million, representing a margin of 30.4%, versus 39.1%. Non-GAAP net income of $302.7 million, versus $286.1 million, representing a margin of 46.9%, versus 50.2%.
-   **Adjusted EBITDA:** Adjusted EBITDA of $357.8 million, versus $313.8 million, an increase of 14%, representing adjusted EBITDA margins of 55.5%, versus 55.0%.
-   **Diluted net income per share and non-GAAP diluted net income per share:** Diluted net income per share was $0.98, versus $1.11, while non-GAAP diluted net income per share was $1.52, versus $1.42.
-   **Operating cash flow and free cash flow**: Operating cash flow of $326.5 million, versus $273.3 million, an increase of 19% year-over-year, and free cash flow of $317.5 million, versus $266.7 million, an increase of 19% year-over-year.

**Financial Outlook**

Doximity is providing guidance for its fiscal first quarter ending June 30, 2026 as follows:

-   Revenue between $151 million and $152 million.
-   Adjusted EBITDA between $68.5 million and $69.5 million.

Doximity is providing guidance for its fiscal year ending March 31, 2027 as follows:

-   Revenue between $664 million and $676 million.
-   Adjusted EBITDA between $323 million and $335 million.

**Conference Call Information**

Doximity posted prepared remarks on its investor relations website at https://investors.doximity.com. Doximity will host a webcast today at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss these financial results. To listen to a live audio webcast, please visit the Company’s Investor Relations page at https://investors.doximity.com. The archived webcast will be available on the Company’s Investor Relations page shortly after the call.

**About Doximity**

Founded in 2010, Doximity is the leading digital platform for U.S. medical professionals. The company's network members include more than 85% of U.S. physicians across all specialties and practice areas. Doximity provides its verified clinical membership with digital tools built for medicine, enabling them to collaborate with colleagues, stay current on medical news and research, manage their careers and on-call schedules, streamline documentation and administrative paperwork, and conduct virtual patient visits. With new AI-powered clinical reference and search capabilities, Doximity also helps doctors access trusted, peer-reviewed information and medical literature. Doximity's mission is to help doctors be more productive so they can provide better care for their patients.

**Forward-Looking Statements**

_Statements we make in this press release may include statements which are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act, which are usually identified by the use of words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “may,” “plans,” “projects,” “seeks,” “should,” “will,” and variations of such words or similar expressions. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Securities Exchange Act and are making this statement for purposes of complying with those safe harbor provisions. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations, or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors including (i) the timing and scope of anticipated stock repurchases; (ii) the impact of uncertainty in the current economic environment and macroeconomic uncertainty; (iii) our ability to retain existing members or add new members to our platform and maintain or grow their engagement with our platform; (iv) our ability to attract new customers or retain existing customers; (v) the impact of our prioritization of our members’ interests; (vi) breaches in our security measures or unauthorized access to members’ data; (vii) our ability to maintain or manage our growth, and other risks and factors that are beyond our control including, without limitation, those set forth in the section entitled “Risk Factors” in the Quarterly Report on Form 10-Q for the fiscal quarter ended December 31, 2025. Additional information will be provided in our Annual Report on Form 10-K for the fiscal year ended March 31, 2026. Moreover, we operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could cause actual results to differ materially from those contained in our forward-looking statements. The forward-looking statements made in this press release relate only to management’s beliefs and assumptions as of this date. We assume no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law._

**DOXIMITY, INC.**

**CONSOLIDATED BALANCE SHEETS**

**(in thousands)**

**(unaudited)**

**March 31, 2026**

**March 31, 2025**

**Assets**

Current assets:

Cash and cash equivalents

$

219,178

$

209,614

Marketable securities

529,423

706,050

Accounts receivable, net

144,783

128,354

Prepaid expenses and other current assets

50,880

44,602

Total current assets

944,264

1,088,620

Property and equipment, net

18,080

13,656

Deferred income tax assets

31,984

60,014

Operating lease right-of-use assets

7,140

8,886

Intangible assets, net

35,325

23,072

Goodwill

84,973

67,940

Other assets

1,921

2,121

Total assets

$

1,123,687

$

1,264,309

**Liabilities and Stockholders’ Equity**

Current liabilities:

Accounts payable

$

4,009

$

1,356

Accrued expenses and other current liabilities

42,804

38,405

Deferred revenue, current

106,050

114,285

Operating lease liabilities, current

2,110

2,211

Total current liabilities

154,973

156,257

Deferred revenue, non-current

400

280

Operating lease liabilities, non-current

8,075

10,185

Contingent earn-out consideration liability, non-current

—

5,579

Other liabilities, non-current

9,402

9,383

Total liabilities

172,850

181,684

**Stockholders' Equity**

Preferred stock

—

—

Common stock

183

189

Additional paid-in capital

1,001,688

894,225

Accumulated other comprehensive income

28

1,323

Retained earnings (accumulated deficit)

(51,062

)

186,888

Total stockholders’ equity

950,837

1,082,625

Total liabilities and stockholders’ equity

$

1,123,687

$

1,264,309

**DOXIMITY, INC.**

**CONSOLIDATED STATEMENTS OF OPERATIONS**

**(in thousands, except per share data)**

**(unaudited)**

**Three Months Ended  
March 31,**

**Fiscal Year Ended  
March 31,**

**2026**

**2025**

**2026**

**2025**

Revenue

$

145,372

$

138,288

$

644,863

$

570,399

Cost of revenue(1)

19,407

14,467

70,326

55,874

Gross profit

125,965

123,821

574,537

514,525

Operating expenses(1):

Research and development

39,106

24,803

130,702

93,038

Sales and marketing

45,910

37,611

163,648

145,713

General and administrative

16,123

12,727

65,267

45,670

Impairment charge

—

—

—

2,304

Total operating expenses

101,139

75,141

359,617

286,725

Income from operations

24,826

48,680

214,920

227,800

Other income, net

7,295

9,714

35,085

35,774

Income before income taxes

32,121

58,394

250,005

263,574

Provision for (benefit from) income taxes

13,007

(4,064

)

53,954

40,389

Net income

$

19,114

$

62,458

$

196,051

$

223,185

Net income per share attributable to Class A and Class B common stockholders:

Basic

$

0.10

$

0.33

$

1.05

$

1.19

Diluted

$

0.10

$

0.31

$

0.98

$

1.11

Weighted-average shares used in computing net income per share attributable to Class A and Class B common stockholders:

Basic

184,852

188,362

187,014

186,841

Diluted

195,026

202,987

199,048

201,208

(1)

Cost of revenue and operating expenses include stock-based compensation expense as follows (in thousands):

**Three Months Ended  
March 31,**

**Fiscal Year Ended  
March 31,**

**2026**

**2025**

**2026**

**2025**

Cost of revenue

$

2,957

$

2,628

$

11,680

$

11,001

Research and development

15,994

4,792

46,159

19,394

Sales and marketing

11,253

6,442

39,397

26,323

General and administrative

6,538

4,198

24,391

15,668

Total stock-based compensation expense

$

36,742

$

18,060

$

121,627

$

72,386

**DOXIMITY, INC.**

**CONSOLIDATED STATEMENTS OF CASH FLOWS**

**(in thousands)**

**(unaudited)**

**Three Months Ended  
March 31,**

**Fiscal Year Ended  
March 31,**

**2026**

**2025**

**2026**

**2025**

**Cash flows from operating activities**

Net income

$

19,114

$

62,458

$

196,051

$

223,185

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization

4,131

2,829

14,383

10,659

Deferred income taxes

32,138

(13,788

)

32,138

(11,592

)

Stock-based compensation, net of amounts capitalized

36,742

18,060

121,627

72,386

Non-cash lease expense

384

446

1,747

1,838

Accretion of discount on marketable securities, net

(1,130

)

(2,919

)

(7,581

)

(11,655

)

Amortization of deferred contract costs

4,207

3,423

13,478

9,967

Impairment of long-lived assets

—

—

—

2,304

Other

133

(19

)

314

270

Changes in operating assets and liabilities:

Accounts receivable

11,720

9,258

(16,879

)

(27,206

)

Prepaid expenses and other assets

1,105

(18,489

)

(8,272

)

2,762

Deferred contract costs

(3,231

)

(2,982

)

(14,490

)

(12,051

)

Accounts payable, accrued expenses and other liabilities

(35,254

)

(4,535

)

4,268

(663

)

Deferred revenue

39,969

45,295

(8,115

)

15,210

Operating lease liabilities

(506

)

(550

)

(2,211

)

(2,149

)

**Net cash provided by operating activities**

109,522

98,487

326,458

273,265

**Cash flows from investing activities**

Cash paid for acquisition

—

—

(26,528

)

—

Purchases of intangible assets

—

—

(62

)

—

Internal-use software development costs

(2,253

)

(1,507

)

(8,901

)

(6,525

)

Purchases of marketable securities

(8,037

)

(143,724

)

(389,159

)

(675,557

)

Maturities of marketable securities

148,267

118,180

561,434

635,401

Sales of marketable securities

—

2,578

10,386

17,383

**Net cash provided by (used in) investing activities**

137,977

(24,473

)

147,170

(29,298

)

**Cash flows from financing activities**

Proceeds from issuance of common stock upon exercise of stock options and common stock warrants

2,767

5,827

9,784

19,732

Proceeds from issuance of common stock in connection with the employee stock purchase plan

2,076

2,147

3,892

3,569

Taxes paid related to net share settlement of equity awards

(7,477

)

(10,856

)

(40,839

)

(27,185

)

Repurchase of common stock

(90,525

)

(26,788

)

(431,652

)

(120,293

)

Payment of contingent consideration related to a business combination

—

—

(5,249

)

(5,470

)

Payment of excise taxes on share repurchases

—

—

—

(1,491

)

**Net cash used in financing activities**

(93,159

)

(29,670

)

(464,064

)

(131,138

)

Net increase in cash and cash equivalents

154,340

44,344

9,564

112,829

Cash and cash equivalents, beginning of period

64,838

165,270

209,614

96,785

**Cash and cash equivalents, end of period**

$

219,178

$

209,614

$

219,178

$

209,614

**Supplemental disclosures of cash flow information**

Cash paid for taxes, net of refunds

$

792

$

19,840

$

21,814

$

55,654

**Non-GAAP Financial Measures**

To supplement our consolidated financial statements, which are prepared and presented in accordance with accounting principles generally accepted in the United States (“GAAP”), the Company uses the following non-GAAP measures of financial performance:

-   **Non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating income, non-GAAP net income, non-GAAP net income margin, and non-GAAP basic and diluted net income per common share:** We exclude the effect of acquisition and other related expenses, stock-based compensation expense, amortization of acquired intangible assets, impairment charge, legal fees associated with certain non-ordinary course legal matters including the shareholder class action litigation, and change in fair value of contingent earn-out consideration liability from non-GAAP gross profit, non-GAAP gross margin and non-GAAP operating income. Non-GAAP net income and non-GAAP net income margin are further adjusted for estimated income tax on such adjustments. We calculate income taxes on the adjustments by applying an estimated annual effective tax rate to the adjustments. Non-GAAP basic and diluted net income per common share is non-GAAP net income attributable to common stockholders divided by the weighted average number of shares. For both basic and diluted non-GAAP net income per share, the weighted average shares we use in computing non-GAAP net income per share is equal to our GAAP weighted average shares. Non-GAAP gross margin represents non-GAAP gross profit as a percentage of revenue and non-GAAP net income margin represents non-GAAP net income as a percentage of revenue.
-   **Adjusted EBITDA and adjusted EBITDA margin:** We define adjusted EBITDA as net income before interest, income taxes, depreciation, and amortization, and as further adjusted for acquisition and other related expenses, stock-based compensation expense, impairment charge, legal fees associated with certain non-ordinary course legal matters including the shareholder class action litigation, change in fair value of contingent earn-out consideration liability, and other income, net. Net income margin represents net income as a percentage of revenue and adjusted EBITDA margin represents adjusted EBITDA as a percentage of revenue.
-   **Free cash flow:** We calculate free cash flow as cash flow from operating activities less purchases of property and equipment, purchases of intangible assets, and internal-use software development costs.

We use these non-GAAP financial measures internally for financial and operational decision-making purposes and as a means to evaluate period-to-period comparisons. Non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP financial measures and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. Our presentation of non-GAAP financial measures may not be comparable to similar measures used by other companies. We encourage investors to carefully consider our results under GAAP, as well as our supplemental non-GAAP information and the reconciliation between these presentations, to more fully understand our business. Please see the tables included at the end of this release for the reconciliation of GAAP to non-GAAP results.

**Key Business Metrics**

-   **Net revenue retention rate:** Net revenue retention rate is calculated by taking the trailing 12-month (“TTM”) subscription-based revenue from our customers that had revenue in the prior TTM period and dividing that by the total subscription-based revenue for the prior TTM period. For the purposes of this calculation, subscription revenue excludes subscriptions for individuals and small practices and other non-recurring items. Our net revenue retention rate compares our subscription revenue from the same set of customers across comparable periods, and reflects customer renewals, expansion, contraction, and churn. Our net revenue retention rate is directly tied to our revenue growth rate and thus fluctuates as that growth rate fluctuates.
-   **Customers with trailing 12-month subscription revenue greater than $500,000:** The number of customers with TTM subscription revenue greater than $500,000 is a key indicator of the scale of our business, and is calculated by counting the number of customers that contributed more than $500,000 in subscription revenue in the TTM period. Our customer count is subject to adjustments for acquisitions, consolidations, spin-offs, and other market activity, and we present our total customer count for historical periods reflecting these adjustments.
-   **Quarterly unique active providers using our workflow tools:** Quarterly unique active providers1 using our Workflow Tools is a key performance indicator of our platform’s adoption and long-term growth potential among providers on our platform. We calculate the number of unique active providers by counting providers who securely login and use any of the following workflow functions on our technology platform during the quarter: placing phone calls or video calls lasting more than 10 seconds, sending voicemails, or sending secure text messages using our Dialer communications tools; sending or receiving faxes; submitting a prompt on Doximity GPT, our HIPAA‑compliant generative AI clinical research tool and writing assistant; conducting research on prescription drugs; reviewing AI responses for our PeerCheck feature; scheduling via our on-call scheduling tool, Amion; or using our HIPAA-compliant ambient note taking tool, Scribe, for a patient visit. Each provider is counted once per quarter, even if they use multiple tools or use them many times.

\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_

1

Providers are health care professionals with clinical / prescribing roles specifically Physicians (MD/DO), Nurse practitioners (NPs), Certified registered nurse anesthetist (CRNAs), Physician assistants (PAs), Pharmacists, and Medical students

**_Reconciliation of GAAP to Non-GAAP Financial Measures_**

The following tables reconcile the specific items excluded from GAAP metrics in the calculation of non-GAAP metrics for the periods shown below:

**Three Months Ended  
March 31,**

**Fiscal Year Ended  
March 31,**

**2026**

**2025**

**2026**

**2025**

**(unaudited)**

**(in thousands, except percentages)**

Net income

$

19,114

$

62,458

$

196,051

$

223,185

Adjusted to exclude the following:

Acquisition and other related expenses

—

—

1,616

—

Stock-based compensation

36,742

18,060

121,627

72,386

Depreciation and amortization

4,131

2,829

14,383

10,659

Provision for (benefit from) income taxes

13,007

(4,064

)

53,954

40,389

Impairment charge

—

—

—

2,304

Change in fair value of contingent earn-out consideration liability

79

167

417

680

Legal expenses

40

—

4,853

—

Other income, net

(7,295

)

(9,714

)

(35,085

)

(35,774

)

Adjusted EBITDA

$

65,818

$

69,736

$

357,816

$

313,829

Revenue

$

145,372

$

138,288

$

644,863

$

570,399

Net income margin

13.1

%

45.2

%

30.4

%

39.1

%

Adjusted EBITDA margin

45.3

%

50.4

%

55.5

%

55.0

%

**Three Months Ended  
March 31,**

**Fiscal Year Ended  
March 31,**

**2026**

**2025**

**2026**

**2025**

**(unaudited)**

**(in thousands)**

Net cash provided by operating activities

$

109,522

$

98,487

$

326,458

$

273,265

Purchases of intangible assets

—

—

(62

)

—

Internal-use software development costs

(2,253

)

(1,507

)

(8,901

)

(6,525

)

Free cash flow

$

107,269

$

96,980

$

317,495

$

266,740

Other cash flow components:

Net cash provided by (used in) investing activities

$

137,977

$

(24,473

)

$

147,170

$

(29,298

)

Net cash used in financing activities

$

(93,159

)

$

(29,670

)

$

(464,064

)

$

(131,138

)

**Three Months Ended  
March 31,**

**Fiscal Year Ended  
March 31,**

**2026**

**2025**

**2026**

**2025**

**(unaudited)**

**(in thousands, except per share data and percentages)**

GAAP cost of revenue

$

19,407

$

14,467

$

70,326

$

55,874

Adjusted to exclude the following:

Stock-based compensation

(2,957

)

(2,628

)

(11,680

)

(11,001

)

Amortization of acquired intangibles

(935

)

—

(935

)

—

Non-GAAP cost of revenue

$

15,515

$

11,839

$

57,711

$

44,873

GAAP gross profit

$

125,965

$

123,821

$

574,537

$

514,525

Adjusted to exclude the following:

Stock-based compensation

2,957

2,628

11,680

11,001

Amortization of acquired intangibles

935

—

935

—

Non-GAAP gross profit

$

129,857

$

126,449

$

587,152

$

525,526

GAAP gross margin

86.7

%

89.5

%

89.1

%

90.2

%

Non-GAAP gross margin

89.3

%

91.4

%

91.1

%

92.1

%

GAAP research and development expense

$

39,106

$

24,803

$

130,702

$

93,038

Adjusted to exclude the following:

Stock-based compensation

(15,994

)

(4,792

)

(46,159

)

(19,394

)

Amortization of acquired intangibles

—

—

(1,558

)

—

Non-GAAP research and development expense

$

23,112

$

20,011

$

82,985

$

73,644

GAAP sales and marketing expense

$

45,910

$

37,611

$

163,648

$

145,713

Adjusted to exclude the following:

Stock-based compensation

(11,253

)

(6,442

)

(39,397

)

(26,323

)

Amortization of acquired intangibles

(1,005

)

(1,061

)

(4,014

)

(4,244

)

Change in fair value of contingent earn-out consideration liability

(79

)

(167

)

(417

)

(680

)

Non-GAAP sales and marketing expense

$

33,573

$

29,941

$

119,820

$

114,466

GAAP general and administrative expense

$

16,123

$

12,727

$

65,267

$

45,670

Adjusted to exclude the following:

Acquisition and other related expenses

—

—

(1,616

)

—

Stock-based compensation

(6,538

)

(4,198

)

(24,391

)

(15,668

)

Legal expenses

(40

)

—

(4,853

)

—

Non-GAAP general and administrative expense

$

9,545

$

8,529

$

34,407

$

30,002

GAAP operating expense

$

101,139

$

75,141

$

359,617

$

286,725

Adjusted to exclude the following:

Acquisition and other related expenses

—

—

(1,616

)

—

Stock-based compensation

(33,785

)

(15,432

)

(109,947

)

(61,385

)

Amortization of acquired intangibles

(1,005

)

(1,061

)

(5,572

)

(4,244

)

Change in fair value of contingent earn-out consideration liability

(79

)

(167

)

(417

)

(680

)

Legal expenses

(40

)

—

(4,853

)

—

Impairment charge

—

—

—

(2,304

)

Non-GAAP operating expense

$

66,230

$

58,481

$

237,212

$

218,112

GAAP operating income

$

24,826

$

48,680

$

214,920

$

227,800

Adjusted to exclude the following:

Acquisition and other related expenses

—

—

1,616

—

Stock-based compensation

36,742

18,060

121,627

72,386

Amortization of acquired intangibles

1,940

1,061

6,507

4,244

Change in fair value of contingent earn-out consideration liability

79

167

417

680

Legal expenses

40

—

4,853

—

Impairment charge

—

—

—

2,304

Non-GAAP operating income

$

63,627

$

67,968

$

349,940

$

307,414

GAAP net income

$

19,114

$

62,458

$

196,051

$

223,185

Adjusted to exclude the following:

Acquisition and other related expenses

—

—

1,616

—

Stock-based compensation

36,742

18,060

121,627

72,386

Amortization of acquired intangibles

1,940

1,061

6,507

4,244

Change in fair value of contingent earn-out consideration liability

79

167

417

680

Legal expenses

40

—

4,853

—

Impairment charge

—

—

—

2,304

Income tax effect of non-GAAP adjustments (1)

(8,148

)

(4,050

)

(28,354

)

(16,719

)

Non-GAAP net income

$

49,767

$

77,696

$

302,717

$

286,080

Non-GAAP net income margin

34.2

%

56.2

%

46.9

%

50.2

%

Weighted-average shares used in computing net income per share attributable to Class A and Class B common stockholders:

Basic

184,852

188,362

187,014

186,841

Diluted

195,026

202,987

199,048

201,208

Non-GAAP net income per share attributable to Class A and Class B stockholders:

Basic

$

0.27

$

0.41

$

1.62

$

1.53

Diluted

$

0.26

$

0.38

$

1.52

$

1.42

(1)

For the three months and fiscal years ended March 31, 2026 and 2025, management used an estimated annual effective non-GAAP tax rate of 21.0%.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260513597912/en/

**Investor Relations Contact:**  
Perry Gold  
ir@doximity.com

**Media Contact:**  
Amanda Cox  
pr@doximity.com

Source: Doximity

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