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

# Company Summary: Doximity, Inc.

## Overview
- **Industry Leadership:** Doximity is the leading digital platform for U.S. medical professionals.
- **Membership:** Over 2 million registered members as of March 31, 2025.
- **Market Penetration:** 
  - Over 80% of U.S. physicians, spanning 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.

## Core Mission and Values
- Aim: To help physicians be more productive and provide better patient care.
- Approach: Physicians-first platform that emphasizes trust, modern software solutions, and tailored tools for medical professionals.

## Platform & Tools
- **Primary Feature:** Largest medical professional network in the U.S., enabling members to connect, collaborate, and share information.
- **Member Profile:** Verified profiles including education, certifications, hospital affiliations, research, awards, and clinical expertise.
- **Networking:** Facilitates connections among colleagues, residents, and specialists for referrals and knowledge sharing.
- **Search & Careers:** Tools for finding medical experts, job opportunities, and residency program insights (Residency Navigator).
- **Newsfeed:** Personalized content with medical articles, videos, peer updates, clinical discussions, Op-Med articles, and sponsored content.
- **Workflow Tools:** Secure messaging, digital fax, HIPAA-compliant telehealth (via Dialer), AI-powered writing assistant (Doximity GPT), scheduling tools (AMiON), and integrations supporting clinical workflows.

## Business Model & Revenue
- **Key Revenue Sources:** 
  - **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 and job postings; includes Curative Talent staffing service.
  - **Workflow Solutions:** Telehealth, scheduling, and AI tools for clinicians and health systems.
- **Customer Base:** 
  - Top pharmaceutical manufacturers, hospitals, and health systems.
- **Revenue Growth:** 
  - $570.4 million in fiscal year 2025, up 20% from $475.4 million in FY 2024.
  - Consistent growth in revenue and profitability, net income of $223.2 million in FY 2025.

## Employees
- Total Employees: 830 full-time employees as of March 31, 2025.
- Focus: A significant portion in R&D (more than a third), 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 increase from FY 2024
- **Net Revenue Retention Rate:** 119%

## Additional Notes
- **Market Value:** As of September 30, 2024, approximately $5.65 billion in market capitalization (based on stock price of $43.57).
- **Stock:** Class A common stock (trades on NYSE under symbol "DOCS"); Class B stock has ten votes per share.
- **Headquarters:** San Francisco, CA, with additional office in Irving, TX.
- **Intellectual Property:** 4 patents granted, 12 pending applications, trademarks, trade secrets, and domain protections.
- **Legal & Regulatory:** Subject to healthcare laws, privacy laws (HIPAA and others), and data security standards.

This detailed summary reflects Doximity’s operations, membership, financial performance, and core strategic focus as of March 31, 2025.

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

# Doximity Overview

Doximity is the leading digital platform for U.S. medical professionals, focusing on enhancing productivity and improving healthcare delivery through innovative technology solutions tailored for physicians and other medical professionals.

## Key Metrics
- **Registered Members**: Over 2 million members, 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 unique active providers used Doximity's clinical workflow tools in Q1 2024
- **Employees**: 827 full-time equivalents as of March 31, 2024

## Products & Services

### 1. **Professional Network and Digital Tools**
- **Profile**: Members maintain a validated digital CV with information such as training, certifications, affiliations, and linked research.
- **Connectivity**: Enable medical professionals to connect and refer patients, share knowledge, and explore career opportunities.
- **Career Management**: Tools offered for both practicing physicians and medical students/residents to navigate job markets and evaluate residency programs.

### 2. **Marketing Solutions**
- Allows pharmaceutical manufacturers and health systems to connect directly with medical professionals through tailored sponsored content.
- Tools include modules for awareness, interactivity, and peer engagement aimed at increasing engagement and enhancing digital marketing efforts.

### 3. **Hiring Solutions**
- Digital recruiting capabilities for health systems and medical recruiting firms to identify, connect with, and hire medical professionals efficiently.
- Features direct messaging and job postings within the platform.
- Includes **Curative Talent**, a staffing firm combining data science with recruitment efforts.

### 4. **Productivity Solutions**
- Includes **Dialer**, a telehealth product allowing secure patient connections via voice or video.
- **AI Writing Assistant (Doximity GPT)**: Helps reduce time on administrative tasks by generating documents such as patient letters and grant applications.
- **Secure Messaging and Communication Tools**: Facilitate HIPAA-compliant interactions among healthcare professionals.

## Business Model
- **Revenue Streams**: Main revenue comes from subscription-based services offered to pharmaceutical manufacturers and health systems. 
- Attracts customers through the high usage and engagement of its medical professional network.
- Employs strategic sales and marketing efforts to attract new customers and expand services to existing ones.

## Financial Performance
- **Recent Revenue Growth**: Doximity's revenue grew by 13% in fiscal 2024 and 22% in fiscal 2023, although growth rates are expected to fluctuate.
- The company is likely to face challenges maintaining high growth given competitive pressures and market dynamics.

## Competitive Edge
- Doximity is positioned uniquely as a physician-first platform that adheres to privacy standards (HIPAA compliance).
- The extensive network and data-driven tools facilitate a powerful ecosystem that supports effective communication and collaboration among healthcare professionals.
- Proprietary algorithms and data analytics provide insights that are difficult to replicate, offering a significant competitive advantage.

## Summary
Doximity leverages a robust digital platform to connect U.S. medical professionals and provide innovative solutions aimed at improving healthcare delivery, productivity, and professional management. With a large and growing member base and multiple revenue-generating services, it plays a critical role in the healthcare sector. The company's strategic focus on leveraging technology to enhance physician workflows and communications underpins its mission to make healthcare easier and more efficient for medical professionals.

Doximity, Inc.

10-K / May 20, 2025

10-K / May 23, 2024

10-K / May 20, 2025

Company Summary: Doximity, Inc.

Overview

Core Mission and Values

Platform & Tools

Business Model & Revenue

Employees

Financial Highlights (Fiscal Year Ended March 31, 2025)

Additional Notes