Doximity, Inc.

DOCSVertical SaaS

Doximity is a professional network for doctors.

Key figures

Data as of Jun 2026 · Pills compare vs Mar 2026

ARR Multiple

8.0x

+2.1x

ARR

$626M

+7.7%

YoY Growth

7.3%

+2.2pp

Market Cap

$5.0B

+34.7%

Revenue (Q)

$157M

+7.7%

Gross Margin

84.9%

-1.8pp

Op. Margin

21.5%

+2.4pp

Rule of 40

28.8

+4.6

Magic Number

0.98

+4.74

Revenue, margins & ratios from SEC filings; market cap & ARR multiple from market data. Market cap & ARR multiple use the close of 2 Oct 2026; their pills compare vs the Jun 2026 quarter-end (6.0x).

Valuation by quarter

Current ARR Multiple: 6.0x· Forward at Q2 FY2027 guidance: 5.5x

Calculated valuation

FRAMEWORK EST.

Valuation data is not available for this company.

Strategy recommendations

Levers ranked by valuation impact

No recommendations for this company.

AI Replacement RiskLOW

9/ 100

LowModerateElevatedHigh

Estimated likelihood that general-purpose AI replaces this product.

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Why this rating

From the AI Risk Calculator model

Structural moats (regulation, integration depth, or proprietary data) make AI-only replacement unlikely in the near term.

What's driving the score

Communication & collaborationCategory baseline

low base

Workflow complexity4/5

-6 risk

Data moat3/5

-1 risk

Integration depthMedium

-4 risk

SegmentEnterprise

-8 risk

IndustryHealthcare

-10 risk

Own AI integration3/5

-1.6 risk

Company overview

Doximity is a professional network for doctors. Think LinkedIn, but built only for physicians and other clinicians. Jeff Tangney founded the company in 2010 in San Francisco. It went public in 2021.

Most United States doctors have joined. That is a remarkable fact and the source of the company power. Physicians use Doximity to connect with colleagues, read medical news, send secure messages, and even run telehealth visits with patients.

The business makes money in a clever way. Pharmaceutical companies and hospitals pay to reach this hard to reach audience. A drug maker can share information about a new treatment with the right specialists. A hospital can recruit doctors for open roles. Because the network is so complete, that access is valuable.

Imagine a cardiologist between patients. She checks Doximity for the latest study on a heart drug, messages a colleague about a tricky case, and dials into a quick video visit, all in one app. That daily habit is what advertisers pay for.

Doximity stands out for a rare trait among newer software firms. It is highly profitable. Revenue runs above $550 million a year with fat margins and strong cash flow. The company grows by deepening how much doctors rely on it. Own the audience, and the rest follows.