Doximity Earnings Call Transcripts
Fiscal Year 2026
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Q4 and full-year results exceeded guidance, with strong free cash flow and accelerating AI engagement. FY27 guidance reflects modest revenue growth and continued AI investment, with minimal near-term AI revenue but strong long-term potential.
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Q3 revenue grew 10% year-over-year to $185.1M, with a 60% adjusted EBITDA margin and strong engagement across workflow and AI products. Delayed pharma budgets and policy headwinds impacted Q4 outlook, but double-digit growth is expected by year-end as AI commercialization ramps.
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Q2 revenue grew 23% year-over-year to $169M, with a 60% Adjusted EBITDA margin and strong free cash flow. Integrated AI-optimized programs and agency partnerships drove growth, while guidance for FY26 was raised amid continued investment in AI and robust client engagement.
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Q1 FY26 revenue grew 15% year-over-year to $146M, beating guidance, with adjusted EBITDA margin at 55% and free cash flow up 52%. AI product launches and the Pathway acquisition are driving engagement and future growth, while guidance remains cautious due to policy uncertainty.
Fiscal Year 2025
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The meeting covered director elections, auditor ratification, and executive compensation approval, with all proposals passing as recommended by the board. Preliminary results confirmed the election of directors and ratification of Deloitte as auditor.
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Revenue grew 20% year-over-year to $570.4M, with strong margin expansion and free cash flow. Integrated offerings and AI tools drove engagement and share gains, while FY26 guidance reflects prudent assumptions amid macro uncertainty.
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Q3 revenue grew 25% year-over-year to $168.6M, with adjusted EBITDA up 39% and margins at 61%. New products and integrated programs drove strong upsell, and FY25 guidance was raised on robust pharma demand and faster revenue recognition.
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Q2 revenue grew 20% year-over-year to $137M, with record 56% adjusted EBITDA margin and strong free cash flow. Client Portal adoption and new workflow products drove broad-based growth, leading to raised full-year guidance and continued momentum in pharma upsells.
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Fiscal Q1 2025 saw 17% revenue growth and 52% Adjusted EBITDA margin, driven by strong upsell activity, new products, and record user engagement. The Client Portal rollout and robust pharma segment performance contributed to raised full-year guidance.