Doximity, Inc.
DOCS · Services-Computer Programming Services · 188.9M shares · +26%/yr ↑ dilution · EDGAR filings ↗
Net buyback after stock comp: $230M (gross $281M, SBC $51M)
Reference price $20.41 · est. market cap ~$3.9B — last insider sale, 2026-06-08 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
A90Elite-margin, debt-free medical network with outstanding FCF and returns.
Strengths
- Elite margins — operating margin 33.3% (87th), net margin 30.4% (100th), gross margin 89.1% (100th)
- Outstanding FCF and returns — FCF margin 50.6% (99th), ROA 17.4% (100th)
- Debt-free, highly liquid — current ratio 6.09 (90th)
Risks
- Growth moderating — revenue +13.1% (55th)
- Pharma-marketing-budget concentration — per 10-K
- Premium valuation — per 10-K
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Chronic dilutionShare count +26%/yr over 4y (dilution, book value/share -57%)
- Strong balance sheetStrong balance sheet — $219M cash & investments
- Notable holderHeld by 6 notable fund(s): STATE STREET CORP, RENAISSANCE TECHNOLOGIES LLC, GOLDMAN SACHS GROUP INC +3 more (as of 2026-03-31)
- AccumulatingInstitutional holders rose 10→12 QoQ (2025-12-31→2026-03-31)
- Insider sellingInsider selling — 9 open-market sale(s) by 2 insider(s) (cluster of 2 insiders, ~$733,526, last 6mo) Form 4 ↗
- Revenue declineRevenue -21.4% YoY
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
89.1%
Operating margin
33.3%
Net margin
30.4%
Return on equity
20.6%
Return on assets
17.4%
Revenue growth (QoQ)
-21.4%
Net-income growth
-12.2%
Current ratio
6.1×
Free cash flow
$326M
EBITDA
$229M
Tangible book value
$831M
Cash & investments
$219M
Stock comp / revenue
18.9%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-08 | Sitaram Siddharth | Sell | 2.4K | $20.41 |
| 2026-06-08 | Sitaram Siddharth | Conversion | 5.0K | — |
| 2026-05-15 | ZATZ STEVEN L | Grant | 56K | — |
| 2026-05-15 | Sitaram Siddharth | Tax withheld | 1.2K | $18.01 |
| 2026-05-15 | Tangney Jeffrey | Grant | 323K | — |
| 2026-05-15 | Tangney Jeffrey | Tax withheld | 15K | $18.01 |
| 2026-05-11 | Sitaram Siddharth | Sell | 2.3K | $25.77 |
| 2026-05-11 | Sitaram Siddharth | Conversion | 5.0K | — |
| 2026-05-07 | Wampler Kira Scherer | Conversion | 9.0K | — |
| 2026-05-07 | Wampler Kira Scherer | Sell | 9.0K | $26.06 |
| 2026-04-10 | Sitaram Siddharth | Conversion | 5.0K | — |
| 2026-04-10 | Sitaram Siddharth | Sell | 2.4K | $21.09 |
| 2026-03-10 | Sitaram Siddharth | Conversion | 5.0K | — |
| 2026-03-10 | Sitaram Siddharth | Sell | 2.3K | $25.37 |
| 2026-03-03 | Wampler Kira Scherer | Conversion | 2.0K | — |
| 2026-03-03 | Wampler Kira Scherer | Sell | 2.0K | $26.00 |
| 2026-02-15 | Bryson Anna | Tax withheld | 11K | $25.02 |
| 2026-02-15 | Tangney Jeffrey | Tax withheld | 8.2K | $25.02 |
| 2026-02-15 | Sitaram Siddharth | Grant | 10.0K | — |
| 2026-02-15 | Sitaram Siddharth | Tax withheld | 946 | $25.02 |
| 2026-02-15 | Sitaram Siddharth | Grant | 384 | $21.27 |
| 2026-02-15 | Bryson Anna | Grant | 152K | — |
| 2026-02-10 | Sitaram Siddharth | Conversion | 5.0K | — |
| 2026-02-10 | Sitaram Siddharth | Sell | 2.3K | $27.88 |
| 2026-02-02 | Wampler Kira Scherer | Conversion | 2.0K | — |
| 2026-02-02 | Wampler Kira Scherer | Sell | 2.0K | $37.33 |
| 2026-01-02 | Wampler Kira Scherer | Conversion | 2.0K | — |
| 2026-01-02 | Wampler Kira Scherer | Sell | 2.0K | $44.65 |
| 2025-12-01 | Wampler Kira Scherer | Conversion | 2.0K | — |
| 2025-12-01 | Wampler Kira Scherer | Sell | 2.0K | $50.71 |
| 2025-11-21 | Cabral Timothy S | Conversion | 10K | — |
| 2025-11-21 | Cabral Timothy S | Sell | 10K | $50.00 |
| 2025-11-15 | Benjamin Regina M. | Grant | 31K | — |
| 2025-11-15 | Bryson Anna | Tax withheld | 5.1K | $49.62 |
| 2025-11-15 | Tangney Jeffrey | Tax withheld | 8.0K | $49.62 |
| 2025-11-04 | Bryson Anna | Conversion | 20K | — |
| 2025-11-04 | Bryson Anna | Conversion | 2.7K | — |
| 2025-11-03 | Wampler Kira Scherer | Conversion | 2.0K | — |
| 2025-11-03 | Wampler Kira Scherer | Sell | 2.0K | $66.44 |
| 2025-10-10 | Benjamin Regina M. | Conversion | 5.0K | — |
| 2025-10-10 | Benjamin Regina M. | Sell | 5.0K | $70.84 |
| 2025-10-01 | Wampler Kira Scherer | Conversion | 2.0K | — |
| 2025-10-01 | Wampler Kira Scherer | Sell | 2.0K | $70.01 |
| 2025-09-24 | Cabral Timothy S | Conversion | 20K | — |
| 2025-09-24 | Cabral Timothy S | Sell | 20K | $75.00 |
| 2025-09-12 | Benjamin Regina M. | Conversion | 5.0K | — |
| 2025-09-12 | Benjamin Regina M. | Sell | 5.0K | $70.50 |
| 2025-09-02 | Wampler Kira Scherer | Conversion | 2.0K | — |
| 2025-09-02 | Wampler Kira Scherer | Sell | 2.0K | $66.57 |
| 2025-09-02 | Cabral Timothy S | Sell | 6.4K | $66.30 |
| 2025-08-28 | Yang Watkin Phoebe L. | Grant | 3.2K | — |
| 2025-08-28 | Wampler Kira Scherer | Grant | 3.2K | — |
| 2025-08-28 | Cabral Timothy S | Grant | 3.2K | — |
| 2025-08-28 | Benjamin Regina M. | Grant | 3.2K | — |
| 2025-08-28 | Spain Kevin | Grant | 3.2K | — |
| 2025-08-26 | Bryson Anna | Conversion | 40K | — |
| 2025-08-26 | Bryson Anna | Sell | 40K | $66.76 |
| 2025-08-15 | Cabral Timothy S | Conversion | 20K | — |
| 2025-08-15 | Cabral Timothy S | Sell | 16K | $63.68 |
| 2025-08-15 | Cabral Timothy S | Sell | 3.8K | $64.19 |
| 2025-08-15 | Tangney Jeffrey | Tax withheld | 8.0K | $63.54 |
| 2025-08-15 | Bryson Anna | Tax withheld | 5.1K | $63.54 |
| 2025-08-08 | Benjamin Regina M. | Conversion | 5.0K | — |
| 2025-08-08 | Benjamin Regina M. | Sell | 5.0K | $63.00 |
| 2025-08-01 | Wampler Kira Scherer | Conversion | 2.0K | — |
| 2025-08-01 | Wampler Kira Scherer | Sell | 2.0K | $57.09 |
| 2025-07-11 | Benjamin Regina M. | Conversion | 5.0K | — |
| 2025-07-11 | Benjamin Regina M. | Sell | 5.0K | $60.04 |
| 2025-07-01 | Wampler Kira Scherer | Sell | 2.0K | $60.96 |
| 2025-07-01 | Wampler Kira Scherer | Conversion | 2.0K | — |
| 2025-06-25 | Benjamin Regina M. | Sell | 10K | $60.00 |
| 2025-06-25 | Benjamin Regina M. | Conversion | 10K | — |
| 2025-06-25 | Cabral Timothy S | Sell | 10K | $60.00 |
| 2025-06-25 | Cabral Timothy S | Conversion | 10K | — |
| 2025-06-02 | Wampler Kira Scherer | Sell | 2.0K | $52.89 |
| 2025-06-02 | Wampler Kira Scherer | Conversion | 2.0K | — |
| 2025-05-23 | Cabral Timothy S | Conversion | 10K | — |
| 2025-05-23 | Cabral Timothy S | Sell | 10K | $50.58 |
| 2025-05-15 | Bryson Anna | Tax withheld | 5.1K | $59.50 |
| 2025-05-15 | Tangney Jeffrey | Tax withheld | 8.0K | $59.50 |
| 2025-05-02 | Bryson Anna | Sell | 50K | $60.00 |
| 2025-05-02 | Bryson Anna | Conversion | 50K | — |
| 2025-05-01 | Bryson Anna | Conversion | 45K | — |
| 2025-05-01 | Bryson Anna | Sell | 22K | $56.80 |
| 2025-05-01 | Bryson Anna | Sell | 23K | $57.65 |
| 2025-05-01 | Wampler Kira Scherer | Sell | 411 | $57.64 |
| 2025-05-01 | Wampler Kira Scherer | Sell | 1.6K | $56.74 |
| 2025-05-01 | Wampler Kira Scherer | Conversion | 2.0K | — |
| 2025-04-24 | Tangney Jeffrey | Grant | 168K | — |
| 2025-04-21 | Bryson Anna | Conversion | 23K | — |
| 2025-04-21 | Bryson Anna | Conversion | 10K | — |
| 2025-04-01 | Wampler Kira Scherer | Sell | 814 | $58.31 |
| 2025-04-01 | Wampler Kira Scherer | Conversion | 7.0K | — |
| 2025-04-01 | Wampler Kira Scherer | Sell | 6.2K | $57.63 |
| 2025-03-03 | Wampler Kira Scherer | Conversion | 2.0K | — |
| 2025-03-03 | Wampler Kira Scherer | Sell | 2.0K | $70.89 |
| 2025-02-15 | Bryson Anna | Tax withheld | 5.1K | $77.07 |
| 2025-02-15 | Tangney Jeffrey | Tax withheld | 8.5K | $77.07 |
| 2025-02-12 | Spain Kevin | Conversion | 2.4M | — |
| 2025-02-12 | Spain Kevin | Other | 2.4M | — |
| 2025-02-12 | Spain Kevin | Other | 194K | — |
| 2025-02-12 | Yang Watkin Phoebe L. | Sell | 2.9K | $75.19 |
| 2025-02-12 | Tangney Jeffrey | Sell | 27K | $75.33 |
| 2025-02-12 | Tangney Jeffrey | Sell | 261K | $74.86 |
| 2025-02-12 | Tangney Jeffrey | Gift | 200K | — |
| 2025-02-12 | Tangney Jeffrey | Sell | 474K | $75.33 |
| 2025-02-12 | Tangney Jeffrey | Sell | 13K | $75.83 |
| 2025-02-11 | Tangney Jeffrey | Sell | 11K | $75.75 |
| 2025-02-11 | Benjamin Regina M. | Conversion | 40K | — |
| 2025-02-11 | Benjamin Regina M. | Sell | 7.0K | $75.00 |
| 2025-02-11 | Benjamin Regina M. | Sell | 23K | $75.93 |
| 2025-02-11 | Benjamin Regina M. | Sell | 6.6K | $76.83 |
| 2025-02-11 | Benjamin Regina M. | Sell | 2.9K | $78.18 |
| 2025-02-11 | Benjamin Regina M. | Sell | 700 | $79.67 |
| 2025-02-11 | Wampler Kira Scherer | Conversion | 2.0K | — |
| 2025-02-11 | Wampler Kira Scherer | Sell | 931 | $76.12 |
| 2025-02-11 | Wampler Kira Scherer | Sell | 202 | $76.99 |
| 2025-02-11 | Wampler Kira Scherer | Sell | 767 | $78.19 |
| 2025-02-11 | Wampler Kira Scherer | Sell | 100 | $79.95 |
| 2025-02-11 | Bryson Anna | Conversion | 95K | — |
| 2025-02-11 | Bryson Anna | Sell | 16K | $75.00 |
| 2025-02-11 | Bryson Anna | Sell | 61K | $75.93 |
| 2025-02-11 | Bryson Anna | Sell | 12K | $76.82 |
| 2025-02-11 | Bryson Anna | Sell | 4.6K | $78.20 |
| 2025-02-11 | Bryson Anna | Sell | 1.4K | $79.58 |
| 2025-02-11 | Tangney Jeffrey | Conversion | 178K | — |
| 2025-02-11 | Tangney Jeffrey | Sell | 159K | $75.83 |
| 2025-02-11 | Tangney Jeffrey | Sell | 19K | $76.21 |
| 2025-02-11 | Tangney Jeffrey | Sell | 18K | $76.90 |
| 2025-02-11 | Tangney Jeffrey | Sell | 20K | $78.05 |
| 2025-02-11 | Tangney Jeffrey | Sell | 600 | $78.86 |
| 2025-02-06 | Bryson Anna | Conversion | 25K | — |
| 2025-02-06 | Bryson Anna | Conversion | 5.0K | — |
| 2025-02-06 | Tangney Jeffrey | Conversion | 350K | — |
| 2025-02-06 | Tangney Jeffrey | Conversion | 250K | — |
| 2025-02-03 | Cabral Timothy S | Conversion | 20K | — |
| 2025-02-03 | Cabral Timothy S | Sell | 2.3K | $56.83 |
| 2025-02-03 | Cabral Timothy S | Sell | 17K | $57.68 |
| 2025-02-03 | Cabral Timothy S | Sell | 1.2K | $58.40 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-13 | ResultsExec/director changeExhibits | filing ↗ |
| 2026-04-17 | Exec/director changeReg FD | filing ↗ |
| 2026-02-05 | ResultsExec/director changeExhibits | filing ↗ |
| 2025-12-30 | Other | filing ↗ |
| 2025-11-06 | ResultsExhibits | filing ↗ |
| 2025-09-02 | Shareholder vote | filing ↗ |
| 2025-08-15 | Exec/director change | filing ↗ |
| 2025-08-07 | ResultsExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 10-K | 2026-05-19 | 2026-03-31 | 0001516513-26-000025 ↗ |
| 8-K | 2026-05-13 | 2026-05-13 | 0001516513-26-000017 ↗ |
| 8-K | 2026-04-17 | 2026-04-13 | 0001516513-26-000014 ↗ |
| 8-K | 2026-02-05 | 2026-02-03 | 0001516513-26-000004 ↗ |
| 10-Q | 2026-02-05 | 2025-12-31 | 0001516513-26-000006 ↗ |
| 8-K | 2025-12-30 | 2025-12-24 | 0001516513-25-000114 ↗ |
| 10-Q | 2025-11-06 | 2025-09-30 | 0001516513-25-000111 ↗ |
| 8-K | 2025-11-06 | 2025-11-06 | 0001516513-25-000110 ↗ |
| 8-K | 2025-09-02 | 2025-08-28 | 0001516513-25-000104 ↗ |
| 8-K | 2025-08-15 | 2025-08-13 | 0001516513-25-000097 ↗ |
| 8-K | 2025-08-07 | 2025-08-07 | 0001516513-25-000092 ↗ |
| 10-Q | 2025-08-07 | 2025-06-30 | 0001516513-25-000093 ↗ |