Doximity (DOCS) Operating Margin (2020 - 2026)
Doximity (DOCS) posted quarterly Operating Margin of 17.08% for Q1 2026, down 1812.0% year-over-year from 1.0% in Q1 2025, and down 56.04% quarter-over-quarter from 38.85% in Q4 2025.
Doximity (DOCS) Operating Margin (2020 - 2026) Analysis & Trends
Doximity (DOCS) has reported Operating Margin for 7 consecutive years, with 17.08% the latest figure, recorded in Q1 2026.
- In Q1 2026, Operating Margin fell 1812.0% year-over-year to 17.08%; the TTM figure through Mar 2026 stood at 33.33% (down 661.0% YoY), while the FY2026 annual figure was 33.33%, down 661.0% from the prior year.
- Operating Margin eased to 17.08% in Q1 2026 per DOCS's latest filing, from 38.85% in the prior quarter.
- Across five years, Operating Margin topped out at 47.4% in Q4 2024 and bottomed at 17.08% in Q1 2026.
- Historically, Operating Margin has averaged 33.7% across 5 years, with a median of 35.2% in 2025.
- Annual changes were most pronounced in 2023 — Operating Margin soared 989 bps — and 2026, when it slumped 1812 bps.
- Doximity's Operating Margin stood at 33.39% in 2022, then gained by 30 bps to 43.28% in 2023, then rose by 10 bps to 47.4% in 2024, then fell by 18 bps to 38.85% in 2025, then plunged by 56 bps to 17.08% in 2026.
- Business Quant data shows DOCS's Operating Margin at 17.08% in Q1 2026, 38.85% in Q4 2025, and 37.79% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 39.72 Bn | 32.40 Bn | 662.02 Mn | 30.93% |
| 2 | BrightSpring Health Services | 12.19 Bn | 11.64 Bn | 492.75 Mn | 3.37% |
| 3 | Healthequity | 8.79 Bn | 8.52 Bn | 256.31 Mn | 29.03% |
| 4 | 10x Genomics | 7.31 Bn | 6.76 Bn | 112.50 Mn | -12.95% |
| 5 | Hinge Health | 7.10 Bn | 6.71 Bn | 183.95 Mn | 19.00% |
| 6 | MiniMed | 5.66 Bn | 5.36 Bn | 480.00 Mn | -11.11% |
| 7 | Waystar Holding | 4.76 Bn | 4.56 Bn | 221.99 Mn | 23.79% |
| 8 | Doximity | 4.46 Bn | 3.77 Bn | 132.93 Mn | 21.48% |
| 9 | Heartflow | 3.66 Bn | 3.28 Bn | 53.19 Mn | -27.93% |
| 10 | Privia Health | 2.78 Bn | 2.42 Bn | - | 1.86% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 21.48% |
| Mar 31, 2026 | 17.08% |
| Dec 31, 2025 | 38.85% |
| Sep 30, 2025 | 37.79% |
| Jun 30, 2025 | 37.36% |
| Mar 31, 2025 | 35.20% |
| Dec 31, 2024 | 47.40% |
| Sep 30, 2024 | 38.84% |
| Jun 30, 2024 | 36.35% |
| Mar 31, 2024 | 35.45% |
| Dec 31, 2023 | 43.28% |
| Sep 30, 2023 | 29.74% |
| Jun 30, 2023 | 27.37% |
| Mar 31, 2023 | 29.60% |
| Dec 31, 2022 | 33.39% |
| Sep 30, 2022 | 31.41% |
| Jun 30, 2022 | 23.92% |
| Mar 31, 2022 | 29.81% |
| Dec 31, 2021 | 36.57% |
| Sep 30, 2021 | 31.44% |