Doximity (DOCS)
Market Price (5/30/2026): $21.42 | Market Cap: $4.0 BilSector: Health Care | Industry: Health Care Technology
Doximity (DOCS)
Market Price (5/30/2026): $21.42Market Cap: $4.0 BilSector: Health CareIndustry: Health Care Technology
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -19% Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 33% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 51%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 49% Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -53% Attractive yieldFCF Yield is 8.0% Megatrend and thematic driversMegatrends include Digital Health & Telemedicine, and Social Media & Creator Economy. Themes include Telehealth Platforms, and Social Media Platforms. | Weak multi-year price returns2Y Excs Rtn is -66%, 3Y Excs Rtn is -115% | Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 19% Key risksDOCS key risks include [1] a heavy dependence on pharmaceutical ad revenue, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -19% |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 33% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 51%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 49% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -53% |
| Attractive yieldFCF Yield is 8.0% |
| Megatrend and thematic driversMegatrends include Digital Health & Telemedicine, and Social Media & Creator Economy. Themes include Telehealth Platforms, and Social Media Platforms. |
| Weak multi-year price returns2Y Excs Rtn is -66%, 3Y Excs Rtn is -115% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 19% |
| Key risksDOCS key risks include [1] a heavy dependence on pharmaceutical ad revenue, Show more. |
Qualitative Assessment
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Doximity (DOCS) stock has lost about 45% since 1/31/2026 because of the following key factors:
1. Disappointing Fiscal Year 2027 Guidance.
Doximity provided a weaker-than-expected financial outlook for its fiscal year ending March 31, 2027. The company guided for fiscal Q1 2027 revenue at a midpoint of $151.5 million, falling below analyst estimates of $153.1 million. Furthermore, the full fiscal year 2027 adjusted EBITDA guidance of $329 million at the midpoint was significantly lower than analyst expectations of $373.3 million and represented a decrease from the fiscal 2026 level.
2. Compression in Profitability and Margins.
Doximity experienced a notable decline in its profitability and margins in fiscal year 2026. GAAP net income decreased to $196.1 million for the year, down from $223.2 million in the prior fiscal year, resulting in the GAAP net margin dropping from 39.1% to 30.4%. In the fourth quarter of fiscal 2026, adjusted EBITDA fell by 6% year-over-year, with adjusted EBITDA margins contracting to 45.3% from 50.4% in the same period a year ago.
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Stock Movement Drivers
Fundamental Drivers
The -42.9% change in DOCS stock from 1/31/2026 to 5/29/2026 was primarily driven by a -27.4% change in the company's P/E Multiple.| (LTM values as of) | 1312026 | 5292026 | Change |
|---|---|---|---|
| Stock Price ($) | 37.47 | 21.40 | -42.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 621 | 645 | 3.8% |
| Net Income Margin (%) | 40.7% | 30.4% | -25.3% |
| P/E Multiple | 27.8 | 20.2 | -27.4% |
| Shares Outstanding (Mil) | 188 | 185 | 1.5% |
| Cumulative Contribution | -42.9% |
Market Drivers
1/31/2026 to 5/29/2026| Return | Correlation | |
|---|---|---|
| DOCS | -42.9% | |
| Market (SPY) | 9.6% | 0.1% |
| Sector (XLV) | -3.0% | -12.4% |
Fundamental Drivers
The -67.6% change in DOCS stock from 10/31/2025 to 5/29/2026 was primarily driven by a -61.8% change in the company's P/E Multiple.| (LTM values as of) | 10312025 | 5292026 | Change |
|---|---|---|---|
| Stock Price ($) | 66.00 | 21.40 | -67.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 590 | 645 | 9.4% |
| Net Income Margin (%) | 39.9% | 30.4% | -23.8% |
| P/E Multiple | 52.8 | 20.2 | -61.8% |
| Shares Outstanding (Mil) | 188 | 185 | 1.7% |
| Cumulative Contribution | -67.6% |
Market Drivers
10/31/2025 to 5/29/2026| Return | Correlation | |
|---|---|---|
| DOCS | -67.6% | |
| Market (SPY) | 11.5% | 6.0% |
| Sector (XLV) | 4.5% | -0.8% |
Fundamental Drivers
The -62.4% change in DOCS stock from 4/30/2025 to 5/29/2026 was primarily driven by a -61.8% change in the company's P/E Multiple.| (LTM values as of) | 4302025 | 5292026 | Change |
|---|---|---|---|
| Stock Price ($) | 56.88 | 21.40 | -62.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 550 | 645 | 17.2% |
| Net Income Margin (%) | 36.6% | 30.4% | -16.9% |
| P/E Multiple | 52.9 | 20.2 | -61.8% |
| Shares Outstanding (Mil) | 187 | 185 | 1.2% |
| Cumulative Contribution | -62.4% |
Market Drivers
4/30/2025 to 5/29/2026| Return | Correlation | |
|---|---|---|
| DOCS | -62.4% | |
| Market (SPY) | 38.0% | 19.1% |
| Sector (XLV) | 8.3% | 3.7% |
Fundamental Drivers
The -41.8% change in DOCS stock from 4/30/2023 to 5/29/2026 was primarily driven by a -66.1% change in the company's P/E Multiple.| (LTM values as of) | 4302023 | 5292026 | Change |
|---|---|---|---|
| Stock Price ($) | 36.75 | 21.40 | -41.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 402 | 645 | 60.5% |
| Net Income Margin (%) | 29.6% | 30.4% | 2.7% |
| P/E Multiple | 59.6 | 20.2 | -66.1% |
| Shares Outstanding (Mil) | 193 | 185 | 4.3% |
| Cumulative Contribution | -41.8% |
Market Drivers
4/30/2023 to 5/29/2026| Return | Correlation | |
|---|---|---|
| DOCS | -41.8% | |
| Market (SPY) | 89.0% | 28.6% |
| Sector (XLV) | 17.7% | 15.6% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| DOCS Return | -5% | -33% | -16% | 90% | -17% | -52% | -60% |
| Peers Return | 0% | -42% | -10% | -41% | -14% | 26% | -67% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 101% |
Monthly Win Rates [3] | |||||||
| DOCS Win Rate | 43% | 25% | 50% | 67% | 42% | 20% | |
| Peers Win Rate | 53% | 35% | 43% | 35% | 38% | 48% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| DOCS Max Drawdown | - | -61% | -50% | -27% | -48% | -61% | |
| Peers Max Drawdown | -43% | -49% | -46% | -55% | -47% | -33% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: VEEV, IQV, TDOC, AMWL, AMN.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/29/2026 (YTD)
How Low Can It Go
| Event | DOCS | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -40.5% | -9.5% |
| % Gain to Breakeven | 68.0% | 10.5% |
| Time to Breakeven | 318 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -12.0% | -6.7% |
| % Gain to Breakeven | 13.7% | 7.1% |
| Time to Breakeven | 31 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -52.9% | -24.5% |
| % Gain to Breakeven | 112.1% | 32.4% |
| Time to Breakeven | 756 days | 427 days |
In The Past
Doximity's stock fell -4.2% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 4.4% gain to breakeven.
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| Event | DOCS | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -40.5% | -9.5% |
| % Gain to Breakeven | 68.0% | 10.5% |
| Time to Breakeven | 318 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -52.9% | -24.5% |
| % Gain to Breakeven | 112.1% | 32.4% |
| Time to Breakeven | 756 days | 427 days |
In The Past
Doximity's stock fell -4.2% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 4.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Doximity (DOCS)
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- Professional Networking & Collaboration: Enables medical professionals to securely connect and collaborate with colleagues.
- Patient Care Coordination Tools: Provides features for healthcare providers to efficiently coordinate patient care.
- Telehealth Services: Facilitates secure virtual patient visits and consultations for medical professionals.
- Medical Information & Research Hub: Offers access to the latest medical news, research, and educational content.
- Career Development Resources: Supports medical professionals in managing and advancing their careers through dedicated tools.
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Doximity (DOCS) primarily sells its services to other companies. Its major customers fall into the following categories:
- Pharmaceutical companies
- Health systems
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Amazon (AMZN)
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Jeff Tangney, Chief Executive Officer & Director
Jeff Tangney is the Co-Founder, Chief Executive Officer, and Director at Doximity, responsible for the company's vision and strategy. Before co-founding Doximity in 2010, he co-founded Epocrates, a mobile medical reference app, where he served as President and Chief Operating Officer. Tangney took Epocrates public in 2011 and later sold it to Athenahealth for $293 million. His professional background also includes investment banking at Goldman Sachs and consulting and software development at ZS Associates. He holds a B.S. in Economics and Math from the University of Wisconsin-Madison and an M.B.A. from the Stanford Graduate School of Business.
Anna Bryson, Chief Financial Officer
Anna Bryson is the Chief Financial Officer at Doximity, overseeing the company's financial strategy and operations. She joined Doximity in 2017 and was appointed CFO in May 2021, having previously served as the company's VP of Strategic Finance and Financial Planning and Analysis (FP&A). Before Doximity, Bryson founded ACB Capital, an investment advisory firm, and worked as a bond trader at the Royal Bank of Scotland. She holds a B.A. and an M.A. in Philosophy, Politics, and Economics from the University of Oxford.
Nate Gross, Co-Founder & Chief Strategy Officer
Nate Gross is a Co-Founder and the Chief Strategy Officer at Doximity, focusing on the company's strategic direction and long-term vision. He also co-founded Rock Health, a venture capital fund for digital health startups, and has been an angel investor at Cityblock Health. Gross graduated from Emory University School of Medicine with an M.D., Harvard Business School with an M.B.A., and Claremont McKenna College with a B.A. in Government. He serves as affiliated faculty for the Clinical Informatics Fellowship at Stanford. Note: Nate Gross transitioned from his day-to-day role to an advisory role at Doximity in February 2026.
Jey Balachandran, Chief Technology Officer
Jey Balachandran is the Chief Technology Officer at Doximity, responsible for the company's technological strategy and the robustness of its platform. His extensive career at Doximity includes roles as VP, Architect, and Director of Software Engineering. He holds a background in Computer Science from the University of Toronto.
Shari Buck, Co-Founder & Senior Vice President, People & Operations
Shari Buck is a Co-Founder and the Senior Vice President of People & Operations at Doximity. She played a key role in the company's founding in 2010.
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The key risks to Doximity's business (DOCS) are primarily centered around its revenue concentration, its accounting and reporting practices, and evolving regulatory landscape impacting user engagement and specific services. Here are the key risks: 1. **High Dependence on Pharmaceutical Advertising Revenue and Evolving Regulatory Scrutiny:** Doximity's revenue model is heavily reliant on marketing solutions for pharmaceutical companies and health systems, with over 90% of its revenue derived from this segment. This concentration exposes Doximity to significant risk from potential shifts in pharmaceutical advertising budgets, which can be vulnerable to macroeconomic uncertainty and industry-specific pressures. A major legislative risk is the increased political focus on curbing prescription drug advertising spending, exemplified by proposed legislation like the "End Prescription Drug Ads Now Act" (S. 2068) in June 2025, which suggested a nationwide ban on direct-to-consumer advertising across digital platforms. Even partial measures could significantly impact Doximity's core revenue stream. 2. **Concerns Regarding Revenue Accounting and Reported Business Metrics:** There are notable concerns raised about Doximity's revenue accounting practices and reported business metrics. Criticisms include suggestions that Doximity may be "pulling forward revenue on large accounts" while its longer-tail customers churn, and that the company has changed its Net Revenue Retention (NRR) definitions, which have reportedly declined over recent years. Additionally, questions have been raised about the auditor's practices, and there has been an abnormally high concentration of accounts receivable among a few customers. If these concerns about aggressive revenue recognition and transparency are substantiated, they could significantly impact investor confidence and the company's perceived financial health. 3. **Regulatory Risks Related to Data Collection for "Pre-populated" Profiles and User Engagement:** Doximity operates a social network model where medical professionals may be encouraged or "bullied into signing up" for pre-populated profiles, which might have been created through data collection practices. This approach carries a significant risk of non-compliance with evolving state laws, particularly in states like California, that regulate processes requiring healthcare professionals (HCPs) to upload IDs and collect data for "claiming" profiles. Should Doximity face challenges in retaining HCPs or acquiring new users in states with stricter data collection and privacy regulations, it could negatively impact user engagement and usage metrics, which are crucial to its platform's value proposition.AI Analysis | Feedback
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Here are the addressable market sizes for Doximity's main products and services in the United States:Digital Health Market (U.S.): The U.S. digital health market was estimated at approximately USD 88.38 billion in 2025 and is projected to reach around USD 266.5 billion by 2035, growing at a CAGR of 11.67% from 2026 to 2035. Another estimate places the global digital health market size at USD 427.24 billion in 2025, with North America holding a 42.67% market share in the same year. Yet another report indicates the global digital health market was valued at USD 573.3 billion in 2025 and is expected to reach USD 2,088.1 billion by 2034, with North America dominating with over 38.6% of the market share in 2025.
Telehealth/Telemedicine Market (U.S.): The U.S. telehealth market was valued at USD 42.54 billion in 2024 and is expected to grow at a CAGR of 23.8% from 2025 to 2030, reaching USD 150.13 billion by 2030. Another source indicates the U.S. telehealth market size reached approximately USD 52.77 billion in 2025 and is anticipated to increase to USD 65.35 billion in 2026, with projections to reach around USD 447.69 billion by 2035 at a CAGR of 23.84%. The U.S. telemedicine market specifically was valued at USD 41.54 billion in 2025 and is projected to reach around USD 188.05 billion by 2035, growing at a CAGR of 16.3% from 2026 to 2035.
Healthcare Business Collaboration Tools / Clinical Communication & Collaboration Market (Global and North America): The global healthcare business collaboration tools market size was estimated at USD 32.53 billion in 2024 and is projected to grow at a CAGR of 23.4% from 2025 to 2030, reaching USD 115.83 billion by 2030. North America's healthcare business collaboration tools market is anticipated to register significant growth. The North American clinical communication and collaboration market accounted for a 38.2% revenue share in 2024. The global clinical communication & collaboration market is projected to grow from approximately USD 2,876.1 million in 2025 to USD 5,302.9 million by 2030, at a CAGR of 13.02%. The North America healthcare business collaboration tools market accounted for USD 6.9 billion in 2023 and is anticipated to grow at a CAGR of 18.9% between 2024 and 2032.
Pharmaceutical Digital Advertising Spending (U.S.): Healthcare and pharmaceutical digital ad spending in the U.S. is estimated to reach USD 24.8 billion in 2025, with a forecast of USD 26.2 billion in 2026. Another estimate indicates U.S. pharma digital ad spending is expected to rise to USD 20.19 billion in 2025. By 2027, digital is expected to comprise 82% of all healthcare and pharma ad spending in the U.S.
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Expected Drivers of Future Revenue Growth for Doximity (DOCS)
- Expansion and Monetization of Artificial Intelligence (AI) Products and Services: Doximity is actively developing and integrating AI tools, such as DocsGPT, into its platform, which have seen significant user adoption. While revenue upside from AI tools outside of hospitals has not yet been fully commercialized or included in current guidance, the company plans to commercialize these products later, presenting a clear opportunity for future revenue growth.
- Continued Growth in Existing Customer Spend and Strong Net Revenue Retention: Doximity consistently demonstrates a high net revenue retention rate, indicating that existing pharmaceutical companies and health systems are increasing their spending on the platform. The company's top customers, in particular, continue to grow at the fastest rate, driven by increased engagement with Doximity's offerings and the positive influence of its client portal on purchasing decisions.
- Increasing Penetration of the Healthcare Professional Market and Enhanced Platform Engagement: Doximity continues to expand its already extensive network of medical professionals, having surpassed 3 million registered members, including a substantial majority of U.S. physicians and a significant portion of NPs and PAs. This growing and highly engaged user base enhances the platform's value proposition for pharmaceutical companies and health systems, attracting more clients and driving demand for Doximity's digital solutions.
- Capitalizing on the Shift Towards Digital Advertising in Healthcare: As pharmaceutical companies and healthcare organizations increasingly reallocate their advertising budgets to digital channels, Doximity is well-positioned to capture a larger share of this spend. Its established and highly engaged platform provides an attractive and targeted environment for advertisers to reach medical professionals.
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Capital Allocation Decisions for Doximity (DOCS) (Last 3-5 Years)
Share Repurchases
- Doximity announced a new $500 million share repurchase program in February 2026, which authorizes the company to buy back up to 8% of its outstanding shares.
- As of March 31, 2025, Doximity had repurchased and retired 1,875,226 shares of Class A common stock for an aggregate purchase price of $76.0 million, with $424.0 million remaining available under the authorized program at that time.
- During the second fiscal quarter of 2026 (ending September 30, 2025), the company repurchased $21.9 million worth of shares, with $280 million remaining under the existing repurchase authorization.
Share Issuance
- For fiscal year 2025, proceeds from the issuance of common stock upon the exercise of stock options and common stock warrants totaled $19.732 million.
- Proceeds from the issuance of common stock in connection with the employee stock purchase plan were $2.147 million in fiscal year 2025.
- As of May 13, 2025, Doximity had 136,906,542 shares of Class A common stock and 50,919,611 shares of Class B common stock outstanding.
Outbound Investments
- Doximity acquired Pathway Medical Inc. for $63 million around August 2025, an acquisition intended to boost the platform's AI capabilities.
Capital Expenditures
- Investing Cash Flow for fiscal year 2025 showed an outflow of $29.0 million, primarily reflecting strategic investments and minimal capital expenditures, which is characteristic of a capital-light technology platform.
- Doximity allocated $93.04 million to research and development (R&D) in fiscal year 2025, representing 16.31% of its revenue, focusing on innovation and new products, including AI-powered solutions.
- The company anticipates increasing investments in AI, expecting related costs to rise in the latter half of fiscal year 2026, while aiming to maintain a 55%+ adjusted EBITDA margin.
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| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 04302026 | GEHC | GE HealthCare Technologies | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 04302026 | IQV | IQVIA | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 04302026 | UHS | Universal Health Services | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 04302026 | ABT | Abbott Laboratories | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 04302026 | ZBIO | Zenas BioPharma | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 0.0% | 0.0% | 0.0% |
| 01162026 | DOCS | Doximity | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | -40.8% | -40.8% | -49.0% |
| 09302023 | DOCS | Doximity | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 26.8% | 102.2% | -4.2% |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 25.18 |
| Mkt Cap | 2.5 |
| Rev LTM | 2,855 |
| Op Inc LTM | 176 |
| FCF LTM | 512 |
| FCF 3Y Avg | 339 |
| CFO LTM | 533 |
| CFO 3Y Avg | 403 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 10.2% |
| Rev Chg 3Y Avg | 2.7% |
| Rev Chg Q | 6.8% |
| QoQ Delta Rev Chg LTM | 1.5% |
| Op Inc Chg LTM | 24.2% |
| Op Inc Chg 3Y Avg | 16.3% |
| Op Mgn LTM | 9.0% |
| Op Mgn 3Y Avg | 9.6% |
| QoQ Delta Op Mgn LTM | 0.5% |
| CFO/Rev LTM | 18.9% |
| CFO/Rev 3Y Avg | 15.7% |
| FCF/Rev LTM | 16.7% |
| FCF/Rev 3Y Avg | 12.7% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 2.5 |
| P/S | 1.3 |
| P/Op Inc | 10.7 |
| P/EBIT | 15.7 |
| P/E | 10.0 |
| P/CFO | 6.4 |
| Total Yield | 0.2% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 5.2% |
| D/E | 0.3 |
| Net D/E | 0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 22.1% |
| 3M Rtn | 23.3% |
| 6M Rtn | -10.3% |
| 12M Rtn | 19.1% |
| 3Y Rtn | -48.1% |
| 1M Excs Rtn | 15.9% |
| 3M Excs Rtn | 13.1% |
| 6M Excs Rtn | -21.7% |
| 12M Excs Rtn | -8.5% |
| 3Y Excs Rtn | -133.0% |
Price Behavior
| Market Price | $21.40 | |
| Market Cap ($ Bil) | 4.0 | |
| First Trading Date | 06/24/2021 | |
| Distance from 52W High | -71.5% | |
| 50 Days | 200 Days | |
| DMA Price | $23.11 | $43.95 |
| DMA Trend | down | down |
| Distance from DMA | -7.4% | -51.3% |
| 3M | 1YR | |
| Volatility | 66.4% | 54.3% |
| Downside Capture | 45.89 | 170.23 |
| Upside Capture | -21.46 | 11.73 |
| Correlation (SPY) | -0.7% | 16.5% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.18 | 0.42 | 0.35 | 0.52 | 1.01 | 1.19 |
| Up Beta | -0.91 | -1.01 | -2.21 | -0.71 | 0.40 | 0.87 |
| Down Beta | 1.51 | -0.15 | 0.63 | 0.60 | 1.42 | 1.20 |
| Up Capture | 81% | 102% | 22% | -30% | 28% | 146% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 9 | 19 | 26 | 48 | 121 | 372 |
| Down Capture | 548% | 128% | 210% | 181% | 153% | 110% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 13 | 24 | 38 | 76 | 129 | 372 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DOCS | |
|---|---|---|---|---|
| DOCS | -59.8% | 54.2% | -1.48 | - |
| Sector ETF (XLV) | 15.8% | 14.6% | 0.78 | 3.0% |
| Equity (SPY) | 30.3% | 11.8% | 1.94 | 17.4% |
| Gold (GLD) | 37.5% | 26.7% | 1.17 | -6.7% |
| Commodities (DBC) | 39.6% | 18.8% | 1.63 | -0.0% |
| Real Estate (VNQ) | 12.5% | 13.1% | 0.64 | 4.7% |
| Bitcoin (BTCUSD) | -31.8% | 41.6% | -0.81 | 1.9% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DOCS | |
|---|---|---|---|---|
| DOCS | -17.0% | 69.1% | 0.00 | - |
| Sector ETF (XLV) | 5.4% | 14.7% | 0.19 | 18.8% |
| Equity (SPY) | 14.3% | 17.0% | 0.66 | 35.3% |
| Gold (GLD) | 18.8% | 18.0% | 0.85 | 3.6% |
| Commodities (DBC) | 10.2% | 19.4% | 0.41 | 5.6% |
| Real Estate (VNQ) | 3.4% | 18.8% | 0.08 | 26.7% |
| Bitcoin (BTCUSD) | 14.6% | 54.6% | 0.46 | 18.9% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DOCS | |
|---|---|---|---|---|
| DOCS | -8.9% | 69.1% | 0.00 | - |
| Sector ETF (XLV) | 9.9% | 16.5% | 0.49 | 18.8% |
| Equity (SPY) | 15.9% | 17.9% | 0.76 | 35.3% |
| Gold (GLD) | 13.3% | 16.0% | 0.69 | 3.6% |
| Commodities (DBC) | 7.3% | 17.9% | 0.33 | 5.6% |
| Real Estate (VNQ) | 5.7% | 20.7% | 0.24 | 26.7% |
| Bitcoin (BTCUSD) | 67.0% | 66.9% | 1.06 | 18.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 5/28/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/13/2026 | -23.0% | -15.1% | |
| 2/5/2026 | -16.8% | -25.8% | -23.5% |
| 11/6/2025 | -13.2% | -20.5% | -27.9% |
| 8/7/2025 | 13.7% | 8.5% | 18.7% |
| 5/15/2025 | -10.1% | -12.3% | -4.3% |
| 2/6/2025 | 36.0% | 32.1% | 3.8% |
| 11/7/2024 | 34.2% | 19.9% | 24.0% |
| 8/8/2024 | 38.7% | 36.3% | 43.9% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 10 | 9 |
| # Negative | 10 | 10 | 10 |
| Median Positive | 28.4% | 20.0% | 18.7% |
| Median Negative | -11.6% | -11.8% | -19.5% |
| Max Positive | 38.7% | 43.3% | 91.4% |
| Max Negative | -23.0% | -30.9% | -28.1% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/19/2026 | 10-K |
| 12/31/2025 | 02/05/2026 | 10-Q |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/20/2025 | 10-K |
| 12/31/2024 | 02/06/2025 | 10-Q |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/23/2024 | 10-K |
| 12/31/2023 | 02/08/2024 | 10-Q |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/26/2023 | 10-K |
| 12/31/2022 | 02/09/2023 | 10-Q |
| 09/30/2022 | 11/10/2022 | 10-Q |
| 06/30/2022 | 08/05/2022 | 10-Q |
Recent Forward Guidance
Updated 5/28/2026Latest: Q4 2026 Earnings Reported 5/13/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2027 Revenue | 151.00 Mil | 151.50 Mil | 152.00 Mil | 5.6% | Higher New | Guidance: 143.50 Mil for Q4 2026 | |
| Q1 2027 Adjusted EBITDA | 68.50 Mil | 69.00 Mil | 69.50 Mil | 7.8% | Higher New | Guidance: 64.00 Mil for Q4 2026 | |
| 2027 Revenue | 664.00 Mil | 670.00 Mil | 676.00 Mil | 4.2% | Higher New | Guidance: 643.00 Mil for 2026 | |
| 2027 Adjusted EBITDA | 323.00 Mil | 329.00 Mil | 335.00 Mil | -7.6% | Lower New | Guidance: 356.00 Mil for 2026 | |
Prior: Q3 2026 Earnings Reported 2/5/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2026 Revenue | 143.00 Mil | 143.50 Mil | 144.00 Mil | Higher New | |||
| Q4 2026 Adjusted EBITDA | 63.50 Mil | 64.00 Mil | 64.50 Mil | Higher New | |||
| 2026 Revenue | 642.50 Mil | 643.00 Mil | 643.50 Mil | 0 | Affirmed | Guidance: 643.00 Mil for 2026 | |
| 2026 Adjusted EBITDA | 355.50 Mil | 356.00 Mil | 356.50 Mil | 0.6% | Raised | Guidance: 354.00 Mil for 2026 | |
Insider Activity
Updated 5/19/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Sitaram, Siddharth | Interim PFO and PAO | Direct | Sell | 5132026 | 25.77 | 2,309 | 59,503 | 2,303,735 | Form |
| 2 | Wampler, Kira Scherer | Direct | Sell | 5082026 | 26.06 | 9,000 | 234,540 | 517,004 | Form | |
| 3 | Sitaram, Siddharth | Interim PFO and PAO | Direct | Sell | 4142026 | 21.09 | 2,427 | 51,185 | 1,828,608 | Form |
| 4 | Sitaram, Siddharth | Interim PFO and PAO | Direct | Sell | 3122026 | 25.37 | 2,319 | 58,833 | 2,134,429 | Form |
| 5 | Sitaram, Siddharth | Interim PFO and PAO | Direct | Sell | 3122026 | 27.88 | 2,282 | 63,622 | 2,270,854 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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