Doximity, Inc. is the leading digital platform for U.S. medical professionals, providing networking, search, newsfeed, and workflow tools for healthcare providers.

# Doximity, Inc.

## Overview
- Leading digital platform for U.S. medical professionals.
- Over 2 million registered members as of March 31, 2025.
- Market penetration:
  - Over 80% of U.S. physicians across all 50 states and every medical specialty.
  - Over 60% of U.S. nurse practitioners and physician assistants.
  - Over 90% of graduating U.S. medical students.

## Mission and Values
- Help physicians be more productive and provide better patient care.
- Physicians-first platform focused on trust, modern software, and tools tailored to medical professionals.

## Platform & Tools
- Largest medical professional network in the U.S., enabling members to connect, collaborate, and share information.
- Verified member profiles that include education, certifications, hospital affiliations, research, awards, and clinical expertise.
- Networking features to support referrals and knowledge sharing among colleagues, residents, and specialists.
- Search and careers tools for finding experts, job opportunities, and residency program insights (Residency Navigator).
- Personalized newsfeed with medical articles, videos, peer updates, clinical discussions, Op-Med articles, and sponsored content.
- Workflow tools:
  - Secure messaging and digital fax.
  - HIPAA-compliant telehealth via Dialer.
  - AI-powered writing assistant (Doximity GPT).
  - Scheduling tools (AMiON).
  - Integrations that support clinical workflows.

## Business Model & Revenue
- Primary revenue streams:
  - Marketing Solutions: Digital advertising and sponsored content for pharmaceutical companies and health systems.
  - Hiring Solutions: Digital recruitment platform for health systems and staffing firms, including direct messaging, job postings, and Curative Talent staffing service.
  - Workflow Solutions: Telehealth, scheduling, and AI tools for clinicians and health systems.
- Customer base includes top pharmaceutical manufacturers, hospitals, and health systems.
- FY 2025 revenue: $570.4 million, up 20% from $475.4 million in FY 2024.
- Net income for FY 2025: $223.2 million.

## Employees
- 830 full-time employees as of March 31, 2025.
- More than one-third of employees are in R&D, including product, engineering, and data teams.

## Financial Highlights (Fiscal Year Ended March 31, 2025)
- Revenue: $570.4 million
- Net income: $223.2 million
- Adjusted EBITDA: $313.8 million
- Revenue growth: 20% year-over-year
- Net revenue retention rate: 119%

## Additional Notes
- Market capitalization: approximately $5.65 billion as of September 30, 2024 (based on a stock price of $43.57).
- Stock: Class A common stock trades on the NYSE under the symbol DOCS; Class B stock carries ten votes per share.
- Headquarters: San Francisco, CA; additional office in Irving, TX.
- Intellectual property: 4 patents granted and 12 pending applications, plus trademarks, trade secrets, and domain protections.
- Legal and regulatory: Subject to healthcare laws, privacy laws (including HIPAA), and data security standards.

Doximity is the leading digital platform for U.S. medical professionals, enhancing productivity and healthcare delivery with technology solutions.

# Doximity

## Key metrics
- Registered members: over 2 million, including
  - more than 80% of U.S. physicians
  - over 60% of U.S. nurse practitioners and physician assistants
  - over 90% of graduating U.S. medical students (as of March 31, 2024)
- Unique active providers: more than 580,000 used Doximity's clinical workflow tools in Q1 2024
- Employees: 827 full-time equivalents (as of March 31, 2024)

## Products & services

### Professional network and digital tools
- Validated member profiles that serve as a digital CV with training, certifications, affiliations, and linked research
- Connectivity features for referrals, knowledge sharing, and career networking
- Career management tools for practicing physicians, medical students, and residents to evaluate jobs and residency programs

### Marketing solutions
- Sponsored content and targeted engagement tools for pharmaceutical manufacturers and health systems
- Modules geared toward awareness, interactivity, and peer engagement to support digital marketing efforts

### Hiring solutions
- Digital recruiting tools for health systems and medical recruiting firms to identify, contact, and hire clinicians
- Features include direct messaging and job postings within the platform
- Curative Talent: a staffing firm that combines data science with recruitment

### Productivity solutions
- Dialer: a telehealth product for secure patient voice and video connections
- Doximity GPT: an AI writing assistant for drafting patient letters, grant applications, and other administrative documents
- Secure messaging and communication tools that support HIPAA-compliant interactions among healthcare professionals

## Business model
- Primary revenue from subscription-based services sold to pharmaceutical manufacturers and health systems
- Customer acquisition driven by high usage and engagement across the medical professional network
- Sales and marketing efforts focus on acquiring new customers and expanding services with existing customers

## Financial performance
- Revenue growth: 22% in fiscal 2023 and 13% in fiscal 2024
- The company faces competitive pressures and market dynamics that may affect future growth

## Competitive position
- Positioned as a physician-first platform with HIPAA-compliant products
- Large network and proprietary data analytics provide insights that are difficult to replicate and create a competitive advantage

## Summary
Doximity operates a digital platform that connects U.S. medical professionals and delivers products to improve healthcare delivery, productivity, and professional management. With a large member base and multiple revenue-generating services, the company focuses on technology and data to enhance physician workflows and communication.

Doximity, Inc.

10-K / May 20, 2025

10-K / May 23, 2024

10-K / May 20, 2025

Doximity, Inc.

Overview

Mission and Values

Platform & Tools

Business Model & Revenue

Employees

Financial Highlights (Fiscal Year Ended March 31, 2025)

Additional Notes