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Doximity DOCS

Doximity scores excellent on business quality (8.1 of 10). Here is why, in plain words, and what our sealed record shows.

Last price$30.50Oct 9, 2026
Business qualityExcellent
Next earningsNov 5, 2026
Insiders, 90 daysQuiet

Why it matters

  1. What Doximity does

    Doximity operates a cloud-based digital platform for U.S. medical professionals, generating revenue primarily through pharma marketing and telehealth tools paid for by healthcare systems and drug makers. The company is leaning into expansion via digital workflow and clinical productivity tools for doctors.

  2. What it does best

    Doximity delivers unmatched monetization efficiency in medical networking, posting an 88.0% gross margin that outpaces peers like Certara at 62.0%. This moat is anchored by heavy verified physician adoption, making it nearly impossible for new entrants to replicate its network effects quickly.

  3. The main risk

    The primary vulnerability is customer concentration and digital ad budget shifts by major pharmaceutical clients. If large drug makers pull back on marketing spend, top-line revenue growth faces immediate compression.

Quality, check by check

Scored against its own industry, from company filings.

ProfitabilityStrong

Operating margins sit at 29.7% with a 97th percentile free cash flow margin, proving this business scales exceptionally well as revenue increases.

MoatStrong

The platform locks in enterprise and professional users through an entrenched physician network ranking in the top decile for gross margins at 88.0%.

GrowthFast

Revenue grew 13.2% to $656 million, supported by steady historical top-line expansion that places it in the top quartile of its sector for growth.

Financial healthStrong

Doximity carries zero debt with $749 million in cash, completely eliminating credit risk. Free cash flow reached $297M, leaving the balance sheet exceptionally strong.

Insiders

Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.

No open market buys or unplanned sales by executives or directors.

Our sealed record on DOCS

Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.

The first sealed verdicts appear here on Oct 11, 2026.

Questions

Is DOCS a good business?

Doximity scores excellent on the Cluenex quality check (8.1 of 10), measured against its own industry. Profitability is strong, moat strong, growth fast and financial health strong.

Are insiders buying DOCS?

In the last 90 days of SEC Form 4 filings: No open market buys or unplanned sales by executives or directors.

When does DOCS report earnings?

Nov 5, 2026.

For members

See DOCS today

  • Today's verdict on DOCS, and why
  • Fair value with cautious, base and optimistic cases
  • The exact price that would change the verdict
  • Which stocks each signal names, the night it fires
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Cite this page: Cluenex, “Doximity (DOCS)”, https://cluenex.com/stocks/docs/, data as of Oct 10, 2026.