Doximity reported first quarter 2027 revenue of $156.6 million, a 7% year-over-year increase that exceeded analyst expectations. While the company achieved record physician engagement with its new clinical AI workflow tools, GAAP net income declined significantly as management accelerated investments in research and development and reported higher stock-based compensation expenses.
Key Highlights
- Revenue of $156.6 million outperformed the consensus estimate of $151.7 million, driven by a 30% year-over-year increase in workflow active prescribers.
- AI Search query volume grew by more than 25% quarter-over-quarter, indicating rapid adoption of the clinical assistant platform, Doximity Ask.
- GAAP net income fell 54% to $24.3 million from $53.3 million in the prior year, as R&D spending jumped 43% to $38.5 million.