What is the 13F Pro Quality Score for DOCS?

13F Pro ranks Doximity, Inc. (DOCS) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View DOCS's current score at https://13fpro.ai/research/DOCS (free sign-up required for the full ranking).

Where does 13F Pro source DOCS data?

All Doximity, Inc. fundamentals and ownership data come directly from SEC EDGAR. Doximity, Inc. files with the SEC under CIK 1516513. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is DOCS in?

Doximity, Inc. (DOCS) is classified in the Technology sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/technology.

What are DOCS's largest expenses?

Doximity, Inc.'s latest 10-K reports these as the largest expense items: Cost of revenue ($70.3M, +26% YoY); Research and development ($130.7M, +40% YoY); Sales and marketing ($163.6M, +12% YoY). Sourced directly from SEC EDGAR filing text for FY2026 (year ended March 31, 2026).

How often is DOCS research updated on 13F Pro?

DOCS's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

Doximity, Inc.(DOCS)Stock Analysis

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13F Pro Quality Score

77.5/100

Rank #82 of 2,879 stocksTOP 5%

View Technology peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.

Revenue Growth

81.7/100

Profitability

93.7/100

Balance Sheet

97.6/100

Earnings Quality

80.2/100

Free Cash Flow

90.7/100

Institutional Flow

68.4/100

Revenue Scale

41.8/100

Dilution Risk

9.7/100

DOCS Stock Analysis & AI Quality Score

AI stock analysis and institutional research for Doximity, Inc. (DOCS), a Technology sector company. 13F Pro's AI-powered ranking engine scores DOCS at 77.5/100 on a 32-signal composite quality model, placing it at rank #82 of 2,879 stocks — the top 5% of the AI-ranked universe. DOCS scores in the top quartile across balance sheet strength (97.6), profitability (93.7), free cash flow (90.7). Shareholder dilution risk is elevated at 9.7/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q4 2026), Doximity, Inc. reports quarterly revenue of $145.4M, net income of $19.1M, free cash flow of $109.5M. Top institutional holders of DOCS by reported 13-F value include BlackRock,, VANGUARD PORTFOLIO MANAGEMENT, VANGUARD CAPITAL MANAGEMENT, based on the most recent SEC filings. DOCS trades on the NYSE exchange and files with the SEC under CIK 1516513. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate DOCS daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Doximity, Inc. directly from SEC EDGAR. Doximity, Inc.'s 13F Pro composite quality score has ranged between 8 and 84 since 2022, currently 77.5 — a stable long-term trajectory across 51 quarterly and live scoring snapshots.

✦

Fun facts about Doximity, Inc.

Quirks, history, and lore behind DOCS — the kind of stuff that makes a stock memorable.

1
The Basics
U.S. software-as-a-service company · mid-cap · listed on NYSE · headquartered in San Francisco, California.
2
The Numbers
Annual revenue in the range of $400–500 million with impressively high gross margins typical of pure SaaS — and a customer base measured in hundreds of thousands, not millions.
3
The History
Founded in 2010 by two physicians who were frustrated that doctors still networked and shared information like it was the fax machine era.
4
The Secret
Its platform is essentially LinkedIn for licensed clinicians — membership is gated, meaning you must hold a U.S. medical license to get in the door.
5
The Lore
It reached profitability unusually fast for a tech company and is known for having an extraordinarily lean workforce relative to its revenue — a source of both admiration and raised eyebrows on Wall Street.
6
The Giveaway
More than 80% of U.S. physicians are members of this professional network built exclusively for doctors — making it the de-facto digital hub of American medicine.

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What's Driving DOCS's Business? Latest 10-K Breakdown

AI-extracted from Doximity, Inc.'s 10-K filed 2026-05-19 — FY2026 (year ended March 31, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

Doximity revenue grew 13% YoY to $644.9M with net income of $196.1M and adjusted EBITDA of $357.8M, driven by 10% average revenue growth per Marketing Solutions customer and expanded usage of AI-powered workflow tools.

Largest Expense Items

Cost of revenue$70.3M+26% YoY

$5.6M increase in hosting and software costs for AI initiatives; $2.5M increase in amortization of acquired intangible and internally developed software; personnel and support costs for revenue growth.

Research and development$130.7M+40% YoY

$28.6M increase in stock-based compensation; $4.9M increase in personnel costs; $3.7M increase in third-party contractor costs; investments in AI product offerings.

Sales and marketing$163.6M+12% YoY

$13.1M increase in stock-based compensation; $6M increase in marketing activities.

General and administrative$65.3M+43% YoY

$9.4M increase in legal fees; $8.7M increase in stock-based compensation; $1.6M increase in acquisition expenses.

Margins: Gross margin remained consistent at 89% despite $14.5M cost of revenue increase, reflecting strong operating leverage. Operating margin declined to 33% from 40% YoY, primarily due to 40% R&D expense growth driven by AI investments and stock-based compensation.

Watch Items from the Filing

One customer represented 10%+ of revenue in FY2026 (none in prior years); customer concentration risk noted as sudden loss could significantly impact revenue growth.
Federal policy uncertainties (e.g., Most Favored Nation pricing, drug price negotiations) contributed to short-term budget caution among pharmaceutical customers and affected timing of bookings in FY2026.
Net revenue retention rate declined to 109% from 119% YoY, reflecting customer renewals, expansion, contraction and churn; compression may indicate market saturation or competitive pressure.
Quarterly unique active providers using workflow tools grew 31% to 0.81M, demonstrating strong adoption of AI-powered tools (Ask, Scribe, Dialer) and potential for future monetization.
Securities litigation settlement for $31M (covered by insurance) approved December 24, 2025; six derivative lawsuits remain pending with no estimable loss; OpenEvidence litigation ongoing with CFAA and contract claims.

AI-extracted and verified against SEC EDGAR filing text. Not investment advice.

Read the full 10-K on SEC EDGAR →Share on X

Revenue

Q4 2026

$145.4M

Net Income

Q4 2026

$19.1M

Free Cash Flow

Q4 2026

$109.5M

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

+13.1% YoY

$644.9MFY 2026

FY23 $419.1MFY24 $475.4MFY25 $570.4MFY26 $644.9M

Net Income

-12.2% YoY

$196.1MFY 2026

FY23 $112.8MFY24 $147.6MFY25 $223.2MFY26 $196.1M

Operating Income

-5.7% YoY

$214.9MFY 2026

FY23 $125.1MFY24 $163.9MFY25 $227.8MFY26 $214.9M

EPS (Diluted)

-11.7% YoY

$0.98FY 2026

FY23 $0.53FY24 $0.72FY25 $1.11FY26 $0.98

Total Assets

-11.1% YoY

$1.12BFY 2026

FY23 $1.14BFY24 $1.08BFY25 $1.26BFY26 $1.12B

Op. Cash Flow

+19.5% YoY

$326.5MFY 2026

FY23 $179.6MFY24 $184.1MFY25 $273.3MFY26 $326.5M

Metric	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Revenue	$644.9M +13.1%	$570.4M +20.0%	$475.4M +13.5%	$419.1M +22.0%	$343.5M +66.0%	$206.9M
Net Income	$196.1M -12.2%	$223.2M +51.2%	$147.6M +30.8%	$112.8M -27.1%	$154.8M +208.3%	$50.2M
Operating Income	$214.9M -5.7%	$227.8M +39.0%	$163.9M +31.0%	$125.1M +10.2%	$113.5M +113.0%	$53.3M
EPS (Diluted)	$0.98 -11.7%	$1.11 +54.2%	$0.72 +35.8%	$0.53 -24.3%	$0.70 +508.7%	$0.12
Total Assets	$1.12B -11.1%	$1.26B +17.1%	$1.08B -5.1%	$1.14B +14.7%	$991.4M +293.8%	$251.7M
Operating Cash Flow	$326.5M +19.5%	$273.3M +48.4%	$184.1M +2.5%	$179.6M +41.9%	$126.6M +52.5%	$83.0M

AI Insight: DOCS Financial Trends

Q1 2026 profitability collapsed despite steady revenue and strong operating cash flow, signaling operational stress.

• Revenue grew 14% YoY from Q1 2025 ($138M) to Q1 2026 ($145M), but net income fell 69% to $19M.

• Operating cash flow remained robust at $110M in Q1 2026, highest in trailing eight quarters.

• Operating margin compressed to 17.2% in Q1 2026 from 49.3% in Q4 2025, a 32pp swing.

⚠ Net income margin dropped to 13.1% in Q1 2026 from 33.5% in Q4 2025—steepest decline in dataset.

⚠ Equity fell $80M QoQ to $951M despite positive cash flow; investigate capital allocation and write-downs.

AI Insight: DOCS Ratio Trends

Profitability collapsed across all metrics in Q1 2026, with operating margin plunging to 17.1% from 38.9% in Q4 2025 and ROIC halving to 10.4%.

• Operating margin contracted 21.8pp Q4 2025 to Q1 2026 (38.9% → 17.1%), lowest since Q2 2024.

• Net profit margin crashed to 13.2% in Q1 2026 from 33.3% in TTM, signaling severe earnings deterioration.

• ROIC fell to 10.4% in Q1 2026 from 29.4% in Q4 2025—steepest quarterly decline in dataset.

⚠ Q1 2026 metrics are 50–70% below TTM averages; confirm whether Q4 2025 was a one-time spike or Q1 a seasonal trough.

⚠ ROE dropped 17.1pp Q4 2025 to Q1 2026 (25.1% → 8.0%). Investigate operational or balance-sheet drivers.

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Available Research

13F Pro tracks comprehensive data for Doximity, Inc. including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of DOCS

BlackRock, Inc.
$332.2M14,256,525 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$149.0M6,394,107 sh
VANGUARD CAPITAL MANAGEMENT LLC
$134.3M5,765,063 sh
Clearbridge Investments, LLC
$115.9M4,975,398 sh
WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC
$112.6M4,834,220 sh
Carmignac Gestion
$100.5M4,311,997 sh
STATE STREET CORP
$94.1M4,039,510 sh
GEODE CAPITAL MANAGEMENT, LLC
$91.9M3,944,586 sh
BAILLIE GIFFORD & CO
$89.5M3,839,627 sh
RENAISSANCE TECHNOLOGIES LLC
$71.3M3,059,749 sh

Fund	Value	Shares
BlackRock, Inc.	$332.2M	14,256,525
VANGUARD PORTFOLIO MANAGEMENT LLC	$149.0M	6,394,107
VANGUARD CAPITAL MANAGEMENT LLC	$134.3M	5,765,063
Clearbridge Investments, LLC	$115.9M	4,975,398
WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC	$112.6M	4,834,220
Carmignac Gestion	$100.5M	4,311,997
STATE STREET CORP	$94.1M	4,039,510
GEODE CAPITAL MANAGEMENT, LLC	$91.9M	3,944,586
BAILLIE GIFFORD & CO	$89.5M	3,839,627
RENAISSANCE TECHNOLOGIES LLC	$71.3M	3,059,749

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Is DOCS a good stock to buy?

13F Pro's AI-powered analysis of Doximity, Inc. (DOCS) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Technology sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for DOCS are available on the DOCS stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own DOCS?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling DOCS. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Doximity, Inc.'s investment landscape.