| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 37 | 30.5x | 17.8x | Bottom tier | |
Growth | 57 | 11.2% | 7.1% | Around median | |
Quality | 94 | 13.7% | 4.5% | Top tier | |
Safety | 90 | — | 2.6x | Top tier | |
Capital Return | 80 | — | 2.12% | Top tier | |
Momentum | 19 | -67.0% | 2.9% | Bottom tier | |
Sentiment | 46 | 14 | 3 | Around median |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Doximity operates a physician-focused digital platform that combines professional networking, news, scheduling, fax, and telehealth, then generates revenue from subscriptions sold to pharmaceutical and health system clients and commercial programs linked to physician engagement. The company is expanding its model through Doximity Ask for clinical search and AI Scribe for note-taking, while connecting search data to pharmaceutical company campaigns and retargeting within the platform. In fiscal Q1 2027, 83% of revenue came from 127 pharmaceutical and hospital clients, each generating more than $500,000 in annual subscription revenue, while net revenue retention was 107% overall and 112% among the top 20 clients.
Fiscal Q1 2027 revenue was approximately $156.6 million according to EDGAR data, up 7% year over year, with gross profit of $132.9 million, net income of $24.3 million, and earnings per share of $0.13. This equates to a GAAP gross margin of approximately 84.9% and a net income margin of approximately 15.5%, while the company reported adjusted EBITDA of $75 million and an adjusted margin of 48%. On a trailing-twelve-month basis in fiscal 2027, revenue was $655.6 million, gross profit was $577.3 million, and net income was $167.0 million.
The pharmaceutical and hospital segments delivered performance that management described as solid in fiscal Q1 2027, but major clients remained the primary revenue driver. The company recorded no AI search revenue during that quarter despite the product contributing to increased commercial conversations, and the initial cohort included more than twenty programs, with most revenue contracted as of August 6, 2026 expected to be recognized during fiscal Q3 2027. Cash and marketable investments totaled $688 million at quarter-end, with no debt and free cash flow of $40 million.
Automated analysis for informational purposes only — not investment advice.
The analyst consensus on DOCS is neutral, with an average price target of $27.64 and a wide range between $18 and $41; the average target is far below the 52-week high of $76.51, while the low is $17.15. The available data do not include a published price-to-earnings ratio that can be relied upon, so the valuation primarily rests on Doximity's ability to convert usage growth and AI search contracts into revenue, weighed against slowing fiscal Q2 2027 guidance and investment pressure on gross margin. The neutral consensus and wide dispersion of targets indicate that analysts have not yet agreed on how much repricing is warranted by the increase in fiscal 2027 guidance and the economics of commercial search.
Figures in the text are as of 2026-08-30; the live price is shown at the top of the page.
Revenue was $156.6 million according to EDGAR, with reported year-over-year growth of 7%, gross profit of $132.9 million, and net income of $24.3 million. Adjusted EBITDA was $75 million at a 48% margin, exceeding the high end of management's guidance. The outperformance came from pharmaceutical and hospital clients, increased commercial conversations generated by AI search, and the return of spending by a major pharmaceutical client.
The company sells AI search programs to pharmaceutical companies, with options including therapeutic categories, share of visibility, targeting lists, and keywords, in addition to retargeting within the core platform. Doximity recorded no AI search revenue in fiscal Q1 2027, but it included more than twenty programs and expected on August 6, 2026 to recognize most of the contracted revenue during fiscal Q3 2027. Management stated that revenue from each commercial search is more than ten times its operating cost.
Doximity Ask achieved a clinical error rate of 4.8% in the independent NOHARM study, which compared 24 models across 1,100 real-world cases, versus 13.6% for the competing model mentioned on the call. The product includes an expert-verified drug reference for checking dosages and interactions, along with more than 12,000 physician editors within PeerCheck. As of August 6, 2026, the company had 165 contracted health system clients, including Northwestern, Penn Medicine, and University of Michigan.
The company raised its fiscal 2027 revenue guidance by $6 million to a range of $671–681 million, equivalent to growth of 5% at the midpoint. It expects revenue of $170–171 million in fiscal Q2 2027, representing year-over-year growth of 1% at the midpoint, followed by stronger growth in fiscal Q3 2027 as AI search scales. It also expects adjusted EBITDA of $309–329 million and a margin of 47% at the midpoint for fiscal 2027.
The company ended fiscal Q1 2027 with $688 million in cash, cash equivalents, and marketable investments and had no debt. It generated $40 million in free cash flow during the quarter, with management indicating that its year-over-year decline resulted from the timing of collections and programs. During the same period, it repurchased $92 million of shares, with approximately $400 million remaining under the existing authorization as of June 30, 2026.
83% of fiscal Q1 2027 revenue came from 127 large clients, increasing the sensitivity of results to pharmaceutical and hospital budgets. Non-GAAP gross margin also declined to 88% from 91% a year earlier due to higher AI computing costs, while expected fiscal Q2 2027 revenue growth is only 1% at the midpoint. Competition with Microsoft and UpToDate, health information protection requirements, and the neutral consensus with targets ranging from $18 to $41 add further uncertainty.
