Doximity reported third-quarter non-GAAP earnings of $0.46 per share, surpassing the consensus estimate of $0.44 and up from $0.45 in the year-ago quarter. Revenue reached $185.1 million, a 10% increase from $168.6 million a year earlier and ahead of the $182.2 million forecast. Adjusted EBITDA rose 9% year-over-year to $111.4 million, representing a 60.2% margin, compared to 60.5% in the prior period. These results underscore continued operational leverage despite moderating net income margins.

The company reported over one million quarterly active prescribers on its newsfeed and a record quarter-over-quarter jump in workflow product users to 720,000. Nascent AI-powered features engaged more than 300,000 clinicians in Q3, reflecting rapid uptake of Doximity’s clinical reference and search tools. CEO Jeff Tangney highlighted that AI integrations have enhanced the platform’s utility, supporting stronger subscription renewal rates among health systems and pharmaceutical clients.

For the fiscal fourth quarter, Doximity expects revenue between $143 million and $144 million, below the $150.2 million consensus. Full-year revenue guidance was narrowed to $642.5 million–$643.5 million from the prior range of $640 million–$646 million. Adjusted EBITDA for Q4 is projected at $63.5 million–$64.5 million, while full-year adjusted EBITDA guidance stands at $355.5 million–$356.5 million. The tempered outlook reflects anticipated pressure from slower enterprise deal closures and conservative client budget planning.

Doximity ended the quarter with $64.8 million in cash and cash equivalents and $670.3 million in marketable securities. Accounts receivable rose to $156.6 million, supporting Q3 revenue growth. The board authorized a $500 million open-market share repurchase program with no expiration date, signaling confidence in long-term value. Operating cash flow was $60.9 million and free cash flow $58.5 million, down 7% and 8% year-over-year respectively, as investment in R&D and sales initiatives increased.