DOCS · Doximity, Inc.

Doximity's fiscal 2026 results reflect continued revenue growth driven by strong engagement on its digital platform for medical professionals. Revenue reached $644.9 million, up 13% year-over-year, with the company highlighting a record 800,000 active prescribers using workflow tools in Q4. However, GAAP net income declined to $196.1 million from $223.2 million, primarily due to a significant increase in stock-based compensation expense, which rose to $121.6 million from $72.4 million. Non-GAAP net income increased to $302.7 million, and adjusted EBITDA grew 14% to $357.8 million, with margins expanding slightly to 55.5%. The Q4 results showed a 5% revenue increase but a sharp drop in GAAP net income to $19.1 million from $62.5 million, again driven by higher stock-based compensation. Management commentary emphasized new AI-powered clinical tools and partnerships with Aledade and Photon as growth drivers. The company provided guidance for Q1 FY2027 revenue of $151-$152 million and adjusted EBITDA of $68.5-$69.5 million, and for full FY2027 revenue of $664-$676 million and adjusted EBITDA of $323-$335 million. The appointments of Matthew Sonefeldt as CFO and Dr. Steven Zatz as President bring experienced leaders from DocuSign and WebMD, respectively, which may strengthen investor relations and strategic direction. Sonefeldt will formally succeed the interim Principal Financial Officer on June 8, 2026. The compensation packages include substantial equity grants, aligning leadership with long-term performance.