Doximity, Inc. Q1 2027 Earnings Recap

Doximity's shares surged 26.7% following a quarter that outpaced revenue and margin expectations, driven by stronger-than-anticipated AI adoption and expanding enterprise client engagement.

Key Takeaways

• Q1 revenue reached $157 million, up 7% year-over-year and beating the high end of guidance by 3%.
• Adjusted EBITDA margin of 48% exceeded guidance by 8%, demonstrating margin resilience despite significant AI investment.
• AI product usage soared, with quarterly active workflow prescribers growing over 30% YoY and nearly half now using AI tools.
• Commercial AI initiatives, particularly AI search, have accelerated client engagement and are driving pipeline growth ahead of material revenue recognition in Q3.
• Enterprise momentum remains solid, with 127 pharma and hospital customers generating over $500K in annual revenue (up 7% YoY) and top accounts delivering 112% net revenue retention.