Q3 2026 Doximity Inc Earnings Call Transcript
Key Points
- Doximity Inc (DOCS) reported a solid Q3 with $185 million in revenue, marking a 10% year-on-year growth and a 2% beat from the high end of their guidance.
- The company achieved a record adjusted EBITDA margin of 60%, translating to $111 million, which was 7% above the high end of their guidance.
- Doximity Inc (DOCS) surpassed 3 million registered members, with over 85% of US physicians and two-thirds of all NPs and PAs on their platform.
- The company announced significant engagement with their AI products, with over 300,000 unique prescribers using their AI tools in Q3.
- Doximity Inc (DOCS) secured contracts with over 100 top health systems, providing AI suite access to over 180,000 prescribers, showcasing strong trust and adoption in the healthcare sector.
- The CFO, Anna Bryson, is on medical leave, which may impact financial leadership continuity.
- Non-GAAP gross margin decreased to 91% from 93% in the prior year, driven by increased AI infrastructure investments.
- Q4 revenue expectations are lower, with guidance indicating only 4% growth, partly due to delayed pharma bookings.
- The company faces short-term industry-wide policy headwinds, including uncertainty from recent policy changes affecting annual budgets.
- Despite strong Q3 performance, the annual outlook remains in line with prior guidance due to lower Q4 revenue expectations and higher AI infrastructure investment.
Thank you for standing by. My name is Joe, and I will be your conference operator today. At this time, I would like to welcome everyone to the Doximity third-quarter 2026 earnings call. (Operator Instructions) I would now like to turn the conference over to Perry Gold VP of Investor Relations. Go ahead.
Thank you, operator. Hello, and welcome to Doximity's fiscal 2026 third-quarter earnings call. With me on the call today are Jeff Tangney, Co-Founder and CEO of Doximity; and Audit Committee Chair and Board member, Tim Cabral, who is stepping in to help out with our CFO, Anna Bryson, currently on medical lead.
A complete disclosure of our results can be found in our press release issued earlier today as well as in our related Form 8-K, along with a copy of our prepared remarks all available on our website at investors.doximity.com.
As a reminder, today's call is being recorded, and a replay will be available on our website. As part of our comments today, we will be making forward
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