Doximity (DOCS) | Financial Analysis & Statements
Doximity Inc. Mid-cap Healthcare
TL;DR: Financial Overview - Revenue, Profits & Key Metrics
Latest Quarterly: Jun 2025Income Metrics
Revenue
145.9M
Gross Profit
130.1M
89.18%
Operating Income
54.5M
37.36%
Net Income
53.3M
36.54%
EPS (Diluted)
$0.27
Balance Sheet Metrics
Total Assets
1.2B
Total Liabilities
177.7M
Shareholders Equity
979.3M
Debt to Equity
0.18
Cash Flow Metrics
Operating Cash Flow
75.5M
Free Cash Flow
58.5M
Revenue & Profitability Trend
Quarter Income Flow
Jun 30, 2025
Annual Income Flow
2025
Doximity Income Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 570.4M | 475.4M | 419.1M | 343.5M | 206.9M |
| Cost of Goods Sold | 55.9M | 50.7M | 53.5M | 39.8M | 31.2M |
| Gross Profit | 514.5M | 424.8M | 365.6M | 303.8M | 175.7M |
| Gross Margin % | 90.2% | 89.3% | 87.2% | 88.4% | 84.9% |
| Operating Expenses | |||||
| Research & Development | 93.0M | 82.0M | 80.2M | 62.4M | 43.9M |
| Selling, General & Administrative | 191.4M | 171.0M | 160.3M | 127.9M | 78.5M |
| Other Operating Expenses | - | - | - | - | - |
| Total Operating Expenses | 284.4M | 252.9M | 240.5M | 190.2M | 122.4M |
| Operating Income | 230.1M | 171.8M | 125.1M | 113.5M | 53.3M |
| Operating Margin % | 40.3% | 36.1% | 29.9% | 33.0% | 25.8% |
| Non-Operating Items | |||||
| Interest Income | 35.9M | 21.7M | 9.3M | 2.1M | 301.0K |
| Interest Expense | - | - | - | - | - |
| Other Non-Operating Income | -2.4M | -8.3M | -1.2M | -1.7M | 4.2M |
| Pre-tax Income | 263.6M | 185.2M | 133.2M | 114.0M | 57.8M |
| Income Tax | 40.4M | 37.6M | 20.3M | -40.8M | 7.6M |
| Effective Tax Rate % | 15.3% | 20.3% | 15.3% | -35.8% | 13.1% |
| Net Income | 223.2M | 147.6M | 112.8M | 154.8M | 50.2M |
| Net Margin % | 39.1% | 31.0% | 26.9% | 45.1% | 24.3% |
| Key Metrics | |||||
| EBITDA | 242.9M | 190.4M | 136.5M | 119.8M | 52.3M |
| EPS (Basic) | $1.19 | $0.78 | $0.58 | $0.82 | $0.12 |
| EPS (Diluted) | $1.11 | $0.72 | $0.53 | $0.70 | $0.12 |
| Basic Shares Outstanding | 186841000 | 190172000 | 193176000 | 163484000 | 178207520 |
| Diluted Shares Outstanding | 186841000 | 190172000 | 193176000 | 163484000 | 178207520 |
Income Statement Trend
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Doximity Balance Sheet From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Assets | |||||
| Current Assets | |||||
| Cash & Equivalents | 209.6M | 96.8M | 158.0M | 112.8M | 66.4M |
| Short-term Investments | 706.0M | 666.1M | 683.0M | 685.3M | 76.1M |
| Accounts Receivable | 128.4M | 101.3M | 107.0M | 81.1M | 50.3M |
| Inventory | - | - | - | - | - |
| Other Current Assets | 44.6M | 48.7M | 27.4M | 19.4M | 10.7M |
| Total Current Assets | 1.1B | 912.9M | 975.5M | 904.1M | 209.4M |
| Non-Current Assets | |||||
| Property, Plant & Equipment | 8.9M | 12.3M | 13.8M | 1.1M | 1.3M |
| Goodwill | 159.0M | 163.2M | 167.7M | 45.7M | 47.4M |
| Intangible Assets | 23.1M | 27.3M | 31.8M | 7.9M | 9.6M |
| Long-term Investments | - | - | - | - | - |
| Other Non-Current Assets | 62.1M | 46.5M | 36.6M | 50.8M | 4.9M |
| Total Non-Current Assets | 175.7M | 166.4M | 161.4M | 87.2M | 42.3M |
| Total Assets | 1.3B | 1.1B | 1.1B | 991.4M | 251.7M |
| Liabilities | |||||
| Current Liabilities | |||||
| Accounts Payable | 1.4M | 2.3M | 1.3M | 463.0K | 1.5M |
| Short-term Debt | 2.2M | 2.1M | 1.8M | 642.0K | 970.0K |
| Current Portion of Long-term Debt | - | - | - | - | - |
| Other Current Liabilities | 11.5M | 14.3M | 11.3M | 4.3M | 3.5M |
| Total Current Liabilities | 156.3M | 147.2M | 139.5M | 111.3M | 102.0M |
| Non-Current Liabilities | |||||
| Long-term Debt | 10.2M | 12.4M | 13.9M | 447.0K | 284.0K |
| Deferred Tax Liabilities | - | - | - | - | - |
| Other Non-Current Liabilities | 15.0M | 18.1M | 17.2M | 956.0K | 972.0K |
| Total Non-Current Liabilities | 25.4M | 30.7M | 31.3M | 1.5M | 82.9M |
| Total Liabilities | 181.7M | 178.0M | 170.8M | 112.8M | 185.0M |
| Equity | |||||
| Common Stock | 189.0K | 187.0K | 194.0K | 192.0K | 83.0K |
| Retained Earnings | 186.9M | 80.0M | 217.9M | 191.1M | 36.3M |
| Treasury Stock | - | - | - | - | - |
| Other Equity | - | - | - | - | - |
| Total Shareholders Equity | 1.1B | 901.4M | 966.1M | 878.6M | 66.7M |
| Key Metrics | |||||
| Total Debt | 12.4M | 14.5M | 15.6M | 1.1M | 1.3M |
| Working Capital | 932.4M | 765.7M | 835.9M | 792.9M | 107.4M |
Balance Sheet Composition
Doximity Cash Flow Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Net Income | 223.2M | 147.6M | 112.8M | 154.8M | 50.2M |
| Depreciation & Amortization | 10.7M | 10.3M | 10.3M | 5.0M | 3.7M |
| Stock-Based Compensation | 72.4M | 51.1M | 47.8M | 31.4M | 7.3M |
| Working Capital Changes | -26.9M | -4.0M | -17.6M | -31.2M | 12.9M |
| Operating Cash Flow | 279.9M | 209.4M | 178.8M | 130.1M | 88.8M |
| Investing Activities | |||||
| Capital Expenditures | 0 | -147.0K | -1.7M | -1.9M | -245.0K |
| Acquisitions | 0 | 0 | -53.5M | 0 | -27.5M |
| Investment Purchases | -675.6M | -472.9M | -190.6M | -1.3B | -78.9M |
| Investment Sales | 652.8M | 509.9M | 190.3M | 681.7M | 40.5M |
| Investing Cash Flow | -22.8M | 36.8M | -55.4M | -636.8M | -66.1M |
| Financing Activities | |||||
| Share Repurchases | -120.3M | -280.7M | -85.3M | -2.7M | -2.0M |
| Dividends Paid | - | - | - | - | - |
| Debt Issuance | - | - | - | - | - |
| Debt Repayment | - | - | - | - | - |
| Financing Cash Flow | -154.4M | -292.9M | -89.1M | 546.4M | -3.5M |
| Free Cash Flow | 266.7M | 178.3M | 173.4M | 120.9M | 78.4M |
| Net Change in Cash | 102.6M | -46.6M | 34.3M | 39.7M | 19.3M |
Cash Flow Trend
Doximity Key Financial Ratios
Valuation Ratios
P/E Ratio (TTM)
20.29
Forward P/E
14.90
Price to Book
4.56
Price to Sales
7.13
PEG Ratio
-1.16
Profitability Ratios
Profit Margin
37.54%
Operating Margin
38.89%
Return on Equity
23.82%
Return on Assets
12.84%
Financial Health
Current Ratio
6.63
Debt to Equity
1.09
Beta
1.42
Per Share Data
EPS (TTM)
$1.19
Book Value per Share
$5.29
Revenue per Share
$3.40
Peer Financial Comparison
| Company | Market Cap | P/E Ratio | P/B Ratio | ROE | Profit Margin | Debt/Equity |
|---|---|---|---|---|---|---|
| DOCS | 4.4B | 20.29 | 4.56 | 23.82% | 37.54% | 1.09 |
| Ge Healthcare | 31.9B | 15.92 | 3.18 | 22.38% | 10.10% | 98.72 |
| Veeva Systems | 26.5B | 29.57 | 3.66 | 13.93% | 28.45% | 1.33 |
| Tempus AI | 9.4B | 39.30 | 18.89 | -89.48% | -19.27% | 270.11 |
| BrightSpring Health | 9.3B | 100.33 | 5.24 | 5.92% | 1.48% | 143.60 |
| HealthEquity | 6.6B | 31.61 | 3.14 | 10.19% | 16.39% | 47.53 |
Financial data is updated regularly. All figures are in the company's reporting currency.






