Doximity Q1 FY27: Revenue +7.3% to $156.6M, but net income falls 54% to $24.3M on AI costs

Filed August 6, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 7, 2025 · ~2 min read

Key Changes

• high

  Net income fell 54% YoY to $24.3M ($0.13 diluted EPS, down 52%) despite 7.3% revenue growth, driven by $156.6M in stock-based compensation (+68% YoY) and AI infrastructure costs that compressed gross margin 4 percentage points to 85%.

  MD&A: Net Income & Operating Expenses verify on EDGAR →
• high

  Operating income declined 38% to $33.6M while net income fell 54%, reflecting $24.3M lower interest income and a $5.2M tax-expense increase (effective rate rose from 17% to 40%) driven by reduced stock-award deductions and lower R&D credits.

  MD&A: Tax & Other Income verify on EDGAR →
• high

  Revenue growth decelerated from 15% to 7% YoY; net revenue retention rate fell 11 points to 107%, indicating slower expansion within the existing customer base. Adjusted EBITDA declined 6% to $74.8M (48% margin vs. 55% prior year).

  MD&A: Revenue & Key Metrics verify on EDGAR →