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Doximity (DOCS) Q1 Crushes Estimates: The Metrics Wall Street Missed
Doximity’s Latest Report Card: What Happened in Q1 2026?
An easy-to-read breakdown of the numbers, the surprises, and what it all means for regular investors.
The Big Picture in One Paragraph
Imagine Doximity is a lemonade stand that sells subscriptions to doctors and hospitals. In the quarter that ended June 2026, the stand took in $156.6 million—about 7 % more than the same time last year. But the profit per share (EPS) slipped to $0.29 from $0.36 a year ago. Wall Street had guessed $151.7 million in revenue and $0.30 EPS, so revenue came in a little better than expected, while profit per share came in a little worse.
Why Do These Numbers Matter?
Important Point
Headline numbers (revenue & EPS) are like the score at halftime—they tell you who’s ahead, but not why. The “why” lives in the key metrics below. Smart investors watch those metrics to guess where the stock might go next.
The Three Metrics Wall Street Watches Closest
| Metric | What It Means (ELI5) | Actual | Analyst Guess | Year-Ago Change |
|---|---|---|---|---|
| Big Customers (≥ $500k/yr) | How many hospitals/clinics spend a lot on Doximity | 127 | 129 | — |
| “Other” Revenue | Money from ads, job boards, etc. (not subscriptions) | $10.32 M | $9.04 M | +28 % |
| Subscription Revenue | The core recurring money from doctors/hospitals | $146.3 M | $142.87 M | +6 % |
Quick Takeaways
- Big customers: Fell slightly short of the 129 estimate.
- Other revenue: Crushed expectations—up nearly 30 % year-over-year.
- Subscriptions: Grew steadily and beat the forecast.
How the Stock Has Been Behaving
- Past month: Doximity shares dipped ‑0.3 %.
- S&P 500 same period: Rose +3.3 %.
- Zacks Rank: #3 (Hold) → expected to move roughly in line with the broad market near-term.
What Should a Beginner Do With This Info?
Step-by-Step Checklist
- Don’t panic over one quarter. EPS dipped, but revenue grew and key metrics look healthy.
- Watch the trend lines. Are big customers growing? Is “Other” revenue a one-time pop or a new habit?
- Compare to peers. How are Teladoc, Amwell, or Veeva doing?
- Check the Hold rating. A Zacks #3 means “no strong buy/sell signal right now.”
- Decide your time horizon. Long-term investors care more about customer growth than a single EPS miss.
Summary
- Revenue: $156.6 M (+7 % YoY, beat by 3.2 %).
- EPS: $0.29 (‑19 % YoY, missed by 3.3 %).
- Bright spots: “Other” revenue surged 28 %; subscriptions grew 6 %.
- Watch item: Big-customer count (127) came in just under the 129 estimate.
- Stock: Flat recently, Zacks Rank = Hold.
FAQ (Questions You Might Be Asking)
Q1: Why did EPS fall if revenue rose?
A: EPS = (Profit ÷ Shares). Profit can shrink if costs (hiring, marketing, R&D) grow faster than revenue, or if share count increases. The article doesn’t spell out the exact reason, but it’s common in growth companies.
Q2: What is “Other Revenue” exactly?
A: Think of it as everything except subscriptions—job postings, sponsored content, data analytics tools, etc. It’s smaller but growing fast.
Q3: Is 127 big customers bad because it missed 129?
A: Not necessarily. Two analysts guessed 129; reality was 127. That’s a 1.5 % miss—tiny. The trend (is it 120 → 127 → 135?) matters more than one quarter’s estimate.
Q4: What does Zacks Rank #3 (Hold) mean for me?
A: It’s a quantitative signal saying “this stock will likely do what the S&P 500 does over the next 1–3 months.” It’s not a recommendation to buy or sell.
Q5: Where can I read the full report myself?
A: The original article links to Zacks Investment Research for a free stock-analysis report on DOCS. (Always good to peek at the source!)
Data sourced from Zacks Investment Research via Yahoo Finance. This article is for educational purposes only—not financial advice.
