Companies · DOCS
Doximity
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Latest analysis
Updated Nov 5, 2026
Doximity Q2 FY27: AI search reaches 8-figure bookings with 16 of top 20 pharma buyers; workflow prescriber engagement hits record 34% YoY growth
Doximity's Q2 FY27 results demonstrate that AI-driven engagement is translating into measurable commercial momentum ahead of schedule: AI search achieved 8-figure bookings in its first full quarter of revenue recognition, with 16 of the top 20 pharma companies already purchased and 3 more in contracting. Quarterly active workflow prescribers grew 34% YoY to record highs — a dramatic acceleration from single-digit growth a year ago — with over half of all 1.8 million U.S. prescribers now active on the platform. Revenue of $175 million grew 4% YoY, beating guidance by 2 percentage points, while adjusted EBITDA margin of 51% beat the high end of guidance by 9 percentage points, with AI cost efficiency improving such that cost of revenue grew at less than half the rate of prompt volume.
Tone: bullishRevenue
$644.9M
DOCS 10-K · FY 2026
Employees
880
Revenue growth YoY
+13%
EBITDA margin
51%
Profile
DOCS 10-K Item 1 · May 19, 2026Doximity is the leading digital platform for U.S. medical professionals, serving over 3 million registered members including more than 85% of U.S. physicians. The company monetizes its physician network through subscription-based Marketing, Hiring, and Workflow Solutions sold primarily to pharmaceutical manufacturers and health systems. Its Clinical AI Suite — comprising Ask, Scribe, and Dialer — is now deployed at more than 140 leading U.S. health systems.
Read filing description ↓ Collapse description ↑
We are the leading physician-first tech company, with over 3 million registered members as of March 31, 2026. Our registered members represent more than 85% of U.S. physicians, spanning all 50 states and every medical specialty, along with two-thirds of U.S. nurse practitioners and physician assistants, and approximately 90% of graduating U.S. medical students. Our mission is to help every physician be more productive and provide better care for their patients. We are physician-first, putting technology to work for doctors instead of the other way around. That guiding principle has enabled Doximity to become an essential and trusted professional platform for physicians and their colleagues. We provide our members with AI-powered tools specifically built for medicine, enabling them to collaborate with colleagues, stay up to date with the latest medical news and research, manage their careers and on-call schedules, and conduct virtual patient visits. Our Clinical AI Suite supports the full day-to-day workflow of a physician, from patient communication to documentation to answering clinical questions. Our business model is designed to both respect and support our members while driving value for our customers through our Marketing, Hiring, and Workflow Solutions. Our revenue-generating customers, primarily pharmaceutical manufacturers and health systems, have access to a suite of commercial solutions that benefit from broad usage by physicians and other medical professionals. The ecosystem we have created in the medical community benefits from powerful network effects. Medical professional engagement with our platform increases as the breadth and utility of our tools expand, attracting even more members and driving broader and more effective communication and collaboration among healthcare professionals.
Primary products
- Marketing Solutions
- Hiring Solutions
- Workflow Solutions
- Clinical AI Suite
- Ask (formerly DoxGPT)
- Scribe
Business segments
End markets
Geographies
Named customers
Our revenue is relatively concentrated within a small number of key customers, and the loss of one or more of such key customers could slow the growth rate of our revenue or cause our revenue to decline.
Named competitors
“we believe we are the only professional network solely dedicated to medical professionals, with a purpose-built platform specifically designed to address a broad range of unique needs of today's healthcare professionals.” Competitive position, as stated in the filing
Revenue commentary · FY 2026
Revenue grew 13% year-over-year in fiscal 2026, following 20% growth in fiscal 2025, reflecting continued expansion within existing pharmaceutical and health system customers partially offset by a moderating growth rate.
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