Doximity (DOCS) Q2 FY2027 earnings: revenue $175 million, up 3.6% on the year

Doximity, Inc. (DOCS) reported revenue of $175 million for Q2 FY2027, the quarter ended 30 September 2026, up 3.6% on the same quarter a year earlier. Net income was $35 million, down 44.0% on the year, and diluted earnings per share $0.18. The figures are the company's own, from the 10-Q it filed with the SEC on 5 November 2026.

Revenue

$175 million

+3.6% on the year · +11.4% on the quarter

Q3 FY2025Q2 FY2027

Operating margin

25.2%

37.8% a year earlier

Q3 FY2025Q2 FY2027

Net income

$35 million

-44.0% on the year · +42.8% on the quarter

Q3 FY2025Q2 FY2027

Diluted EPS

$0.18

-41.9% on the year · +38.5% on the quarter

Q3 FY2025Q2 FY2027

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 1 raised, 2 new.

Revenue rose 4% year-over-year: Revenue was $174.5 million against $168.5 million a year earlier. Six-month revenue was $331.2 million against $314.4 million.
Net income and margin fell: Net income was $34.7 million, a 19.9% margin, against $62.1 million and 36.8%. Six-month net income was $59.0 million against $115.4 million.
Adjusted EBITDA fell 12%: Adjusted EBITDA was $88.9 million, a 50.9% margin, against $100.8 million and 59.8%. Six-month adjusted EBITDA was $163.6 million against $180.6 million.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q2 FY2027	Q1 FY2027	Q2 FY2026	On the quarter	On the year
Revenue	175	157	169	+11.4%	+3.6%
Cost of revenue	25.3	23.7	16.4	+7.0%	+54.3%
Gross profit	149	133	152	+12.2%	-1.9%
Gross margin	85.5%	84.9%	90.3%
Research and development	42.0	38.5	30.2	+9.1%	+38.9%
Operating income	43.9	33.6	63.7	+30.5%	-31.0%
Operating margin	25.2%	21.5%	37.8%
Pre-tax income	50.3	40.4	72.9	+24.7%	-31.0%
Income tax	15.6	16.0	10.9	-2.8%	+43.4%
Effective tax rate	31.0%	39.8%	14.9%
Net income	34.7	24.3	62.1	+42.8%	-44.0%
Net margin	19.9%	15.5%	36.8%
Diluted EPS	$0.18	$0.13	$0.31	+38.5%	-41.9%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q2 FY2027	Q1 FY2027	Q2 FY2026	On the quarter	On the year
Operating cash flow	93.3	42.0	93.9	+122.2%	-0.7%
Capital expenditure	0.0	0.1	0.0
Free cash flow	93.3	41.9	93.9	+122.5%	-0.7%
Free cash flow margin	53.4%	26.8%	55.7%
Cash from investing	-84.0	113	-31.7
Cash from financing	-64.2	-101	-30.2
Depreciation and amortisation	4.4	4.3	3.5	+1.5%	+24.4%
Share-based compensation	40.6	36.8	29.5	+10.4%	+37.6%
Buybacks	54.2	91.6	21.9	-40.9%	+147.6%
Diluted shares, weighted	188m	191m	201m	-1.8%	-6.4%
Shares outstanding at period end	178m	180m	188m	-0.8%	-5.2%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q2 FY2027	Q1 FY2027	Q2 FY2026	On the quarter	On the year
Shareholders' equity	928	916	1,096	+1.4%	-15.2%
Debt	0.0	0.0	0.0
Operating lease liabilities	6.9	7.5	9.1	-7.7%	-24.0%
Other liabilities	156	160	152	-2.4%	+2.6%
Total liabilities and equity	1,092	1,084	1,257	+0.7%	-13.2%
Fixed assets	19.8	19.2	15.7	+3.0%	+26.2%
Goodwill	85.0	85.0	85.0	0.0%	0.0%
Intangible assets	31.4	33.4	39.1	-5.8%	-19.7%
Securities held for sale or to maturity	495	414	709	+19.4%	-30.2%
Cash and equivalents	219	274	169	-20.1%	+29.2%
Receivables	166	178	129	-6.5%	+28.5%
Other assets	76.2	80.9	110	-5.8%	-30.5%
Total assets	1,092	1,084	1,257	+0.7%	-13.2%

Questions

What was Doximity's revenue in Q2 FY2027?

Doximity (DOCS) reported revenue of $175 million for Q2 FY2027, the quarter ended 30 September 2026, up 3.6% on the same quarter a year earlier.

How much did Doximity earn in Q2 FY2027?

Net income for Q2 FY2027 was $35 million, down 44.0% on the year, and diluted earnings per share $0.18.

When did Doximity report Q2 FY2027 results?

Doximity filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 5 November 2026.

Quarterly results, the last 20 quarters

	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026	Q4 FY2026 *	Q1 FY2027	Q2 FY2027
Revenue	97.9	93.7	90.6	102	115	111	108	114	135	118	127	137	169	138	146	169	185	145	157	175
Cost of revenue	11.1	11.8	13.1	13.2	13.5	13.7	13.2	12.8	12.2	12.6	13.6	13.7	14.2	14.5	15.8	16.4	18.7	19.4	23.7	25.3
Gross profit	86.8	81.9	77.6	89.0	102	97.3	95.3	101	123	105	113	123	154	124	130	152	166	126	133	149
Gross margin	89%	87%	86%	87%	88%	88%	88%	89%	91%	89%	89%	90%	92%	90%	89%	90%	90%	87%	85%	85%
R&D	16.2	17.4	19.0	19.1	20.5	21.5	21.9	20.0	19.9	20.1	22.6	23.2	22.4	24.8	26.8	30.2	34.6	39.1	38.5	42.0
Operating income	35.8	27.9	21.7	32.1	38.5	32.8	29.7	33.8	58.6	41.9	46.1	53.1	79.9	48.7	54.5	63.7	71.9	24.8	33.6	43.9
Operating margin	37%	30%	24%	31%	33%	30%	27%	30%	43%	35%	36%	39%	47%	35%	37%	38%	39%	17%	21%	25%
Pre-tax income	35.8	27.9	22.5	33.0	40.9	36.7	34.5	39.7	63.0	48.0	53.2	62.2	89.8	58.4	64.1	72.9	80.8	32.1	40.4	50.3
Tax rate	-55%	-32%	0%	20%	18%	16%	18%	23%	24%	15%	22%	29%	16%	-7%	17%	15%	24%	40%	40%	31%
Net income	55.6	36.7	22.4	26.3	33.5	30.7	28.4	30.6	48.0	40.6	41.4	44.2	75.2	62.5	53.3	62.1	61.6	19.1	24.3	34.7
Net margin	57%	39%	25%	26%	29%	28%	26%	27%	35%	34%	33%	32%	45%	45%	37%	37%	33%	13%	16%	20%
Diluted EPS	$0.26	$0.18	$0.10	$0.12	$0.16	$0.14	$0.13	$0.15	$0.24	$0.20	$0.21	$0.22	$0.37	$0.31	$0.27	$0.31	$0.31	$0.10	$0.13	$0.18
Operating cash flow	27.3	47.0	44.8	39.5	48.7	46.6	57.2	12.9	50.1	63.9	41.2	68.3	65.2	98.5	62.1	93.9	60.9	110	42.0	93.3
Capital expenditure	0.6	1.1	0.7	0.8	0.2	0.0	0.1	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	n/a	n/a	0.1	0.0
Free cash flow	26.7	45.9	44.0	38.7	48.5	46.6	57.1	12.9	50.0	63.9	41.2	68.3	65.2	98.5	62.1	93.9	n/a	n/a	41.9	93.3
Buybacks	0.0	0.0	8.9	61.2	0.0	15.3	21.8	164	76.8	17.7	51.2	23.0	19.3	26.8	122	21.9	197	90.5	91.6	54.2
Shares outstanding	190m	192m	193m	192m	193m	194m	195m	189m	186m	187m	186m	187m	188m	189m	187m	188m	185m	183m	180m	178m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 5 November 2026: the filing.