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Doximity: Inside the Multimodal Surge — How a 5% Feature Became 40% of Bookings in One Year!

Doximity, Inc. recently reported its fiscal second-quarter earnings for 2026, highlighting both strides in its growth strategy and existing challenges. Overall, the company demonstrated strong financial performance and operational expansion, positioning itself as a key player in the digital health space, but it also noted some market uncertainties and risks that could impact future performance. On the positive side, Doximity recorded $169 million in revenue, marking a 23% year-over-year increase and exceeding its previous guidance. Notably, the company achieved a 60% adjusted EBITDA margin, translating to $101 million, which surpassed expectations by 15%. Year-over-year, adjusted EBITDA rose by 32%, and free cash flow increased by 37%. This financial success was largely attributed to the company’s AI-optimized integrated programs and the effective deployment of its client portal. From an operational perspective, Doximity saw significant growth in user engagement.