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- **Revenue Superformance**: $169M Q2 revenue (+23% YoY), 7% above guidance, with 60% EBITDA margin.
- **AI Growth Engine**: AI tools up 50% QoQ, Scribe users tripled, and 40% of bookings from integrated programs vs. 5% YoY.
- **Financial Strength**: $91.6M free cash flow, $878M cash, and 13% FY26 revenue growth guided.
- **Market Differentiation**: Unique access to 2,000+ journals and HIPAA-compliant AI scribe outpace competitors.

**【CEO Summary Section】**
- Q2 2026 revenue reached $169 million, up 23% YoY, with a 7% beat on the high end of guidance. Adjusted EBITDA margin was 60% ($101 million), 15% above guidance.
- Network growth: 650,000 unique prescribers used workflow tools, AI tools grew 50% QoQ, and newsfeed engagement hit new highs.
- AI advancements: Pathway acquisition integrated into DoxGPT, offering instant drug references and full-text journal access. Scribe users tripled QoQ.

**【CFO Financial Commentary】**
- GAAP net income: $420 million; Non-GAAP EPS: $1.08 (vs. $0.95 prior year). Gross margin: 92%, flat YoY.
- Free cash flow: $91.6 million (37% YoY growth). Cash balance: $878 million. Shares repurchased: $21.9 million.
- FY26 guidance: Revenue $640-646 million (13% growth), EBITDA $351-357 million (55% margin). Integrated programs now 40% of bookings vs. 5% YoY.

**【Q&A Highlights】**
- **Budget Uncertainty**: 2026 calendar year budgets face policy-related delays, but client engagement with integrated programs remains strong.
- **AI Strategy**: AI tools (e.g., Scribe) drive 50% QoQ growth; 100+ AI developers optimize client ROI. SMB bookings up 100% YoY.
- **Competitive Edge**: Unique access to 2,000+ medical journals and HIPAA-compliant AI scribe differentiate DoxGPT from competitors.
- **Policy Impact**: Direct-to-consumer ad restrictions may shift pharma budgets, but Doximity's portal and AI tools maintain client loyalty.


Doximity, Inc. (DOCS) Q2 2026 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

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Cost of Financing Services

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Operating Expenses

Selling, General and Administrative Expenses

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Net Income

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DOCS

DOCS fundamentals

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