Doximity (DOCS) can be succinctly described as:

• LinkedIn for doctors

• Doximity Network (Professional Networking Service): A secure, HIPAA-compliant professional network and communication platform exclusively for verified healthcare professionals, offering news feeds, research, and collaborative tools.
• Doximity Dialer (Telehealth & Communication Service): A HIPAA-compliant virtual care tool enabling clinicians to make secure patient calls from their personal devices while displaying their office number.
• Doximity Career Navigator (Recruitment Service): A specialized platform for healthcare organizations to recruit, engage, and connect with qualified medical professionals for employment opportunities.
• Doximity Marketing Solutions (Healthcare Marketing Service): Provides pharmaceutical companies and health systems with targeted advertising and content delivery tools to effectively reach and engage healthcare professionals on the platform.

Doximity (symbol: DOCS) primarily sells its services to other companies, making it a B2B (business-to-business) company. While Doximity provides a professional network and tools for individual healthcare professionals, its revenue comes from companies that utilize its platform to reach those professionals for marketing, communication, and hiring purposes.

Doximity's major customers fall into two primary categories:

• Pharmaceutical Companies: These companies utilize Doximity's platform to market their drugs, educate physicians about new treatments, conduct market research, and engage with healthcare professionals. Examples of public pharmaceutical companies that *could* be Doximity customers (though Doximity does not disclose individual customer names) include:

  • Pfizer Inc. (NYSE: PFE)
  • Johnson & Johnson (NYSE: JNJ)
  • Merck & Co., Inc. (NYSE: MRK)
  • Eli Lilly and Company (NYSE: LLY)

  Doximity serves a broad range of pharmaceutical companies, from large multinational corporations to smaller biotech firms.

• Health Systems and Hospitals: These entities use Doximity for physician recruitment, internal and external communication among healthcare professionals, and sometimes to utilize Doximity's telehealth or secure messaging tools. Examples of public health systems or large hospital groups that *could* be Doximity customers include:

  • HCA Healthcare, Inc. (NYSE: HCA)
  • Tenet Healthcare Corporation (NYSE: THC)

  Doximity's clients in this category range from major academic medical centers to regional hospital networks and smaller clinics.

It's important to note that Doximity typically sells its services to a broad array of companies within these categories rather than relying on a small number of individual large customers. Therefore, no single named company is usually disclosed as a dominant customer representing a significant portion of Doximity's overall revenue.

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Jeff Tangney, Co-Founder, Chief Executive Officer, and Director
Jeff Tangney co-founded Doximity in 2011. Prior to Doximity, he co-founded Epocrates in the late 1990s, a mobile drug and disease guide. He led Epocrates to a successful IPO in 2011 and later sold it to Athenahealth for $293 million. His professional journey also includes investment banking at Goldman Sachs and consulting and software development at ZS Associates. He holds an MBA from Stanford University.

Anna Bryson, Chief Financial Officer
Anna Bryson joined Doximity in 2017 and was appointed Chief Financial Officer in May 2021. Before Doximity, she founded ACB Capital, an investment advisory firm, and served as its CEO from 2012 to 2017. She also worked as a bond trader at Royal Bank of Scotland Business from 2011 to 2012. She holds a B.A. and an M.A. in Philosophy, Politics, and Economics from the University of Oxford.

Nate Gross, Co-Founder and Chief Strategy Officer
Nate Gross co-founded Doximity in 2010/2011. He also co-founded Rock Health, a venture capital fund dedicated to digital health startups. He has served as an angel investor at Cityblock Health. He holds an M.D. from Emory University School of Medicine and an MBA from Harvard Business School.

Shari Buck, Co-Founder and Senior Vice President, People & Ops
Shari Buck co-founded Doximity in 2011 with Jeff Tangney and Nate Gross. Prior to founding Doximity, she led product management and operations at Bluefish Wireless, a mobility management provider. Her career began in marketing and advertising, and she is a graduate of Princeton University with a bachelor's degree in political economy.

Jey Balachandran, Chief Technology Officer
Jey Balachandran is the Chief Technology Officer at Doximity. He is responsible for overseeing the company's technological strategy. His career includes roles as VP, Architect, and Director of Software Engineering at Doximity.

Doximity (symbol: DOCS) estimates its total addressable market (TAM) to be $18.5 billion within the U.S. region. This market is segmented across its main products and services as follows:

• Pharmaceutical Marketing: $7.3 billion (U.S.)
• Health System Marketing and Staffing: $6.9 billion (U.S.)
• Telehealth: $4.3 billion (U.S.)

• Growth in Existing Customers and Customer Expansion: Doximity consistently highlights that its existing customers are the primary drivers of growth. The company has demonstrated a strong net revenue retention rate, reaching 118% on a trailing 12-month basis in Q2 FY2026. This indicates that current clients are increasing their spending with Doximity. Additionally, the number of customers contributing at least $500,000 in subscription-based revenue has grown, signifying deeper penetration and value within its client base.
• Launch and Growth of New AI-Integrated Products and Services: The strategic integration and rapid adoption of AI tools are significant growth catalysts. Doximity's AI-integrated products, such as the AI Scribe tool and DoxGPT, have boosted user engagement, with AI Scribe users nearly tripling and DoxGPT users increasing over 50% from the previous quarter in Q2 FY2026. These tools are designed to save physicians' time and are expected to become major revenue contributors, similar to the evolution of its telehealth platform.
• Expansion and Increased Engagement with Workflow Tools: Beyond AI, Doximity's broader suite of workflow tools, including telehealth, fax, and scheduling, continues to see record engagement. In Q2 FY2026, a record 650,000 prescribers utilized these tools, contributing to the company's strong financial performance. This sustained and increasing use of essential productivity tools by medical professionals underpins continued revenue growth.
• Client Portal Insights and Integrated Programs: The Doximity Client Portal plays a crucial role in enabling clients to personalize and optimize their campaigns. This platform, coupled with the adoption of integrated programs, has been a key driver of revenue growth, particularly within the pharmaceutical business during the upsell season. The portal provides a centralized and trusted place for clients to test strategies and monitor results.

Share Repurchases

• Doximity authorized a new share repurchase program of up to $500 million of its Class A common stock on May 1, 2024, with no expiration date.
• For the full fiscal year ended March 31, 2025, the company repurchased $116.2 million worth of shares.
• As of September 30, 2025, Doximity repurchased $220.2 million in Class A shares since the program's inception, with $279.8 million remaining authorized.

Share Issuance

• Doximity completed its initial public offering (IPO) on June 24, 2021, selling 19,010,750 shares of Class A common stock at $26.00 per share, generating $467,094,127.50 in proceeds for the company.
• The number of outstanding shares decreased by 2.2% from 2024 to 2025 and by 3.6% from 2023 to 2024.

Outbound Investments

• In February 2022, Doximity acquired Amion, an on-call doctor scheduling company, for $53.5 million in cash, with potential additional earnouts and restricted stock units.
• In August 2025, Doximity acquired Pathway Medical, a Montreal-based startup specializing in medical AI and evidence-based clinical reference, for $63 million, consisting of $26 million in cash and up to $37 million in additional equity grants.

Capital Expenditures

• Doximity's capital expenditures peaked in March 2022 at $1.912 million.
• The company's capital expenditures have generally decreased since then, with figures of $1.701 million in 2023 and $147 thousand in 2024.
• Capital expenditures for the trailing twelve months ended June 30, 2025, were -$6.79 million, and the company plans to maintain elevated investment levels in AI product development and infrastructure.