DOCS Doximity, Inc.

Overview and Growth

Doximity, Inc. generated $644.86M of revenue in fiscal 2026, with net income of $196.05M and an operating cash inflow of $326.46M. Revenue of $644.86M sets the scale for evaluating how effectively sales translated into profit and cash during the year. The top line expanded 13.1% from $570.40M in fiscal 2025, increasing the company’s operating scale. On a per-share basis, diluted EPS was $0.98, which connects the reported earnings outcome with the company’s diluted share count. Against diluted EPS of $1.11 in fiscal 2025, the current result was 11.7% lower. Total assets stood at $1.12B, showing the scale of resources supporting revenue, earnings, liquidity, and financing. Revenue equaled 0.57x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

Gross profit was $574.54M, representing the portion of revenue remaining after the reported cost of revenue and before operating expenses. Gross margin was 89.1%, so that share of each revenue unit remained after the cost of revenue reported for the period. Operating income was $214.92M, the earnings remaining from reported operations after the company’s recognized operating cost structure. The operating result equaled 33.3% of revenue, placing the absolute operating-income figure in the context of the company’s sales base. Net income came to $196.05M, completing the progression from revenue through gross and operating profitability to the final reported result. Measured against reported revenue, net income produced a 30.4% margin after operating costs and the remaining recognized items. Before income taxes, the company reported $250.00M of earnings, providing a bridge between the operating result and final net income. Pretax income represented 38.8% of revenue, placing earnings before tax in the context of the company’s operating scale. The reported income-tax provision was $53.95M, the amount recognized between pretax income and the final net-income result. The income-tax provision equaled 21.6% of pretax income, showing the tax burden absorbed by the year’s earnings. Net income equaled 20.6% of period-end equity, showing the earnings generated on shareholders’ book capital. The net-income-to-assets relationship measured 17.4%, showing earnings relative to the full balance sheet.

Liquidity and Capital Structure

Total assets were $1.12B, supported by $172.85M of liabilities and $950.84M of shareholder equity. Current assets were $944.26M against $154.97M of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. The current ratio was 6.09x, with current assets exceeding current liabilities and providing a short-term liquidity cushion. The company held $219.18M in cash and equivalents, a narrower liquidity measure than total current assets. Measured only with cash and equivalents, coverage of current liabilities was 141.4%, excluding receivables and other current assets. The liabilities-to-assets relationship was 15.4%, placing reported obligations against the full positive asset balance. The cash-to-assets relationship was 19.5%, comparing reported cash and equivalents with the full positive asset balance. Total assets were 11.1% lower than fiscal 2025 assets of $1.26B, measuring the company’s own balance-sheet change. Book equity was 12.2% lower than fiscal 2025 equity of $1.08B, showing how shareholder capital changed year over year.

Cash Flow and Earnings Quality

The company reported $326.46M of operating cash flow, a cash inflow that shows the cash generated by operations. The operating-cash-flow-to-net-income relationship was 1.67x, comparing cash generated by operations with the bottom-line earnings result. After capital spending, free cash flow was $326.46M, leaving cash available for debt reduction, shareholder returns, or further investment. Free cash flow represented 50.6% of revenue, linking post-investment cash generation with the company’s operating scale. Free cash flow equaled 29.1% of total assets, relating post-investment cash generation to the company’s resource base.

Based on the annual report for the fiscal year ending Mar 31, 2026. Analysis generated Sep 24, 2026.