Q1 27 EPS Adjusted
$0.29
MISS 4.20%
Est. $0.30
Q1 27 Revenue
$156.6M
BEAT +3.22%
Est. $151.7M
vs S&P Since Q1 27
+17.4%
BEATING MARKET
DOCS +17.9% vs S&P +0.5%
Market Reaction
Did DOCS Beat Earnings? Q1 2027 Results
Doximity delivered a mixed fiscal first quarter for 2027, topping revenue expectations while falling short on profitability, a combination that sent shares lower amid broader concerns about demand trends. The medical networking platform posted revenu… Read more Doximity delivered a mixed fiscal first quarter for 2027, topping revenue expectations while falling short on profitability, a combination that sent shares lower amid broader concerns about demand trends. The medical networking platform posted revenue of $156.62 million, up 7.3% year-over-year and ahead of the $151.73 million consensus estimate, but adjusted non-GAAP diluted EPS of $0.29 missed the $0.30 analyst estimate by 4.20%. The earnings shortfall traced largely to surging costs, with stock-based compensation jumping roughly 68% to $36.75 million and research and development spending climbing to $38.48 million from $26.80 million a year ago, compressing GAAP net income margin from 36.5% to 15.5%. Adjusted EBITDA margin also contracted to 47.7% from 54.7%. Investors parsed the results with some caution, as softer billings raised questions about pharma marketing demand. Still, management pointed to strong AI product engagement and issued Q2 revenue guidance of $170 million to $171 million, while raising full-year revenue guidance to a range of $671 million to $681 million, signaling confidence in an acceleration ahead.
Key Takeaways
- • 7% year-over-year revenue growth driven by accelerated subscription revenue
- • Workflow active prescriber growth of more than 30% year-over-year
- • Record engagement on the platform
- • AI Search query growth of over 25% quarter-over-quarter
DOCS Forward Guidance & Outlook
For fiscal Q2 2027 (ending September 30, 2026), Doximity guides revenue of $170 million to $171 million and adjusted EBITDA of $80.5 million to $81.5 million. For the full fiscal year ending March 31, 2027, the company updated guidance to revenue of $671 million to $681 million and adjusted EBITDA of $309 million to $329 million.
DOCS YoY Financials
Q1 2027 vs Q1 2026, source: SEC Filings
DOCS Revenue by Segment
Business unit performance breakdown
“We're proud that our clinical AI assistant, Doximity Ask, was the top-performing U.S.-based model in the NOHARM benchmark while we delivered another quarter of record engagement.”
— Jeff Tangney, Q1 2027 Earnings Press Release
DOCS Earnings Trends
DOCS vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
DOCS EPS Trend
Earnings per share: estimate vs actual
DOCS Revenue Trend
Quarterly revenue: estimate vs actual
DOCS Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 27 MISS | $0.30 | $0.29 | -4.20% | $156.6M | +3.22% |
| Q4 26 MISS FY | $0.28 | $0.26 | -7.93% | $145.4M | +1.02% |
| FY Full Year | $1.55 | $1.52 | -1.72% | $644.9M | +0.20% |
| Q3 26 BEAT | $0.45 | $0.46 | +2.89% | $185.1M | +1.93% |
| Q2 26 BEAT | $0.38 | $0.45 | +18.70% | $168.5M | +6.94% |
| Q1 26 BEAT | $0.31 | $0.36 | +17.23% | $145.9M | +4.57% |
| Q4 25 BEAT FY | $0.27 | $0.38 | +39.25% | $138.3M | +3.20% |
| FY Full Year | $1.31 | $1.42 | +8.41% | $570.4M | +0.15% |