Doximity, Inc.
Doximity is a digital platform for U.S. medical professionals that connects physicians and other clinicians with tools for professional networking, workflow, telehealth, and career management. It monetizes that network by selling subscription-based Marketing Solutions, Hiring Solutions, and Workflow Solutions to pharmaceutical manufacturers, health systems, and recruiting customers.
Tilikausi 2026 · muutos edellisvuodesta
Kehitys 2021–2026
Liiketoiminta
Osuus liikevaihdostaSubscription modules that let pharma and health system customers target tailored content and peer connections to medical professionals.
Digital recruiting and staffing tools used by health systems and medical recruiting firms to source clinicians.
Telehealth, on-call scheduling, and AI workflow products that help clinicians streamline daily work.
Personalized staffing and related service offerings that complement the core platform.
Tuotteet
Raportoitu · osuus liikevaihdosta- Subscription94,3 %
- Services and other5,7 %
Lähde: 10-K FY2026, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.
Asiakkaat
Doximity sells primarily to pharmaceutical manufacturers and health systems, while also serving medical recruiting firms and other healthcare organizations that need access to clinicians. Its platform value comes from broad physician and clinician usage, which makes targeted marketing, recruiting, and workflow tools more effective for customers.
Buy Marketing Solutions subscriptions to deliver tailored content and campaigns to targeted medical professionals.
Buy Marketing, Hiring, and Workflow Solutions to recruit clinicians, market services, and improve clinical operations.
Use Hiring Solutions to identify and connect with clinician candidates through Doximity's network.
Do not directly pay for the core platform, but their engagement is essential because it drives customer value.
Strategia
Doximity is focused on deepening engagement across its member network so it can sell more solutions to existing customers and attract new ones. Management is investing in cloud infrastructure, customer success, and product development to support growth in Marketing, Hiring, and Workflow Solutions while preserving a differentiated healthcare professional network.
Customer value depends on broad physician usage and active engagement on the platform.
The business is concentrated in a relatively small number of key customers, so upsell and renewal matter.
Platform reliability, cloud hosting, and new tools are needed to sustain growth and competitiveness.
Maantiede
Doximity is overwhelmingly a U.S.-focused business, with its platform, members, and customers centered on the United States. The filings provided do not disclose a country revenue split, but the company’s customer base and operating model indicate limited direct international exposure.
Riskit
Doximity faces concentration risk because revenue depends on a relatively small number of large customers, even though no single customer exceeded 10% of revenue in the reported years. It also competes in fast-moving markets where larger platforms, niche software vendors, and changes in search or mobile behavior can pressure pricing, engagement, and customer retention.
- Customer concentrationVaikutus: KorkeaTodennäköisyys: Kohtalainen
Revenue is relatively concentrated among a small number of key customers, so losing one could slow growth or reduce revenue.
Kohdistuu: Pharmaceutical manufacturers and health systems
- Intense competitionVaikutus: KorkeaTodennäköisyys: Kohtalainen
The company competes for members and for customer budgets against larger and better-resourced firms.
Kohdistuu - Platform and cybersecurity riskVaikutus: KorkeaTodennäköisyys: Kohtalainen
The business depends on cloud infrastructure, apps, and websites that must remain secure and reliable.
Kohdistuu - Privacy and healthcare regulationVaikutus: KeskitasoTodennäköisyys: Kohtalainen
Handling clinician and customer data exposes the company to changing privacy and information security rules.
Kohdistuu: Healthcare data and digital marketing workflows
Kirjanpito
Harkinnanvaraiset erätSubscription modules are billed in advance but recognized as services are delivered, affecting timing of revenue and unbilled revenue.
Vaikutus: Can shift revenue between quarters and create balance sheet contract assets
Revenue recognized before billing increases reported assets and can affect cash conversion analysis.
Vaikutus: Important for understanding working capital and collections
Development costs are capitalized and later amortized, affecting operating expense timing.
Vaikutus: Can smooth near-term expenses while increasing future amortization
Acquisitions such as staffing-related assets require valuation and impairment testing.
Vaikutus: Potential impairment charges if acquired businesses underperform
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Päivitetty: 24.9.2026