Q4 2026 Doximity Inc Earnings Call Transcript
Key Points
- Doximity Inc (DOCS) reported a record $107 million in free cash flow for Q4, marking its first nine-digit free cash flow quarter.
- Revenue for Q4 was $145 million, up 5% year over year, and full fiscal year revenue was $645 million, up 13% year over year.
- The company achieved a significant milestone with nearly half of all US doctors working at hospitals that purchase its workflow or scheduling tools.
- Doximity Inc (DOCS) saw record-high engagement across its platform, with AI tools being used by nearly half of active prescribers in Q4.
- The company has successfully integrated AI into its offerings, with 140 health systems purchasing its Clinical AI Suite, including seven of the top 20 hospitals.
- Non-GAAP gross margin decreased to 89% in Q4 from 91% in the prior-year period, driven by increased AI compute costs.
- The adjusted EBITDA margin for Q4 was 45%, down from 50% in the prior-year period, due to increased investment in AI compute.
- Doximity Inc (DOCS) forecasted minimal AI revenue contribution for the fiscal year, reflecting the nascent and regulated nature of the market.
- The company is facing a soft demand environment in the HCP digital pharma ad market, with policy uncertainty and increased macro risk impacting growth.
- Shorter-term spend commitments from clients are leading to less visibility and more moderate growth expectations for the fiscal year.
Ladies and gentlemen, thank you for standing by. My name is Abby. I'll be your conference operator today.
At this time, I would like to welcome everyone to the Doximity fourth-quarter 2026 earnings call.
(Operator Instructions)
Thank you. I would now like to turn the conference over to Perry Gold, Vice President of Investor Relations. You may begin.
Thank you, operator. Hello and welcome to Doximity's fiscal 2026 fourth-quarter earnings call.
With me on the call today are Jeff Tangney, Co-Founder and CEO of Doximity; and Matt Sonefeldt, our new CFO.
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. A replay will be available on our website.
As part of our comments today, we will be making forward-looking
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