Doximity Inc - Class A

Doximity capped fiscal year 2025 with a standout fourth quarter, delivering earnings and revenue that cleared Wall Street's expectations by a wide margin and reinforcing the company's reputation as one of healthcare technology's most profitable platforms. Non-GAAP EPS came in at $0.38, well ahead of the $0.27 consensus — a 40.74% beat — while revenue rose 17.1% year-over-year to $138.29 million, edging past the $137.43 million estimate. The driving force behind the quarter's exceptional profitability was a powerful combination of operating leverage and cash generation, with free cash flow climbing 56% to $96.98 million and GAAP net income margin expanding to 45.2% from 34.4% a year ago. Subscription revenue, which accounted for the bulk of total revenue, grew 17% to $131.90 million, underscoring healthy customer retention across a network now reaching more than 80% of U.S. physicians. A pending shareholder investigation related to prior executive statements adds a layer of uncertainty, though management struck a confident tone with full-year FY2026 revenue guidance of $619 million to $631 million, implying continued double-digit growth ahead.