Doximity's Q2 2025 Earnings Call: A Deep Dive into Revenue Growth and Engagement Trends

Doximity, Inc. (DOCS), the leading digital platform for U.S. medical professionals, reported its fiscal 2025 second quarter financial results on November 7, 2024. The earnings call revealed robust revenue growth and record engagement levels, highlighting Doximity's strong performance and potential for future growth. This article will delve into the key takeaways from the earnings call, focusing on revenue growth, engagement trends, and the company's strategic initiatives.

Doximity's revenue growth trajectory has been impressive, with a 20% year-over-year increase in Q2 2025, following a 16% growth in Q1 2025. This consistent acceleration in revenue growth is expected to continue, with guidance for Q3 2025 revenue between $152 million and $153 million. The company's new product revenues, particularly from workflow tools like telehealth and AI assistance, contributed significantly to this growth. With over 600,000 unique active prescribers and 1 million Doximity GPT prompts in Q2, these tools are gaining traction and driving revenue.



Doximity's adjusted EBITDA margin has also been on an upward trajectory, growing from 47.7% in Q2 2024 to 55.7% in Q2 2025. This improvement can be attributed to increased adoption and utilization of Doximity's services, as well as the company's ability to maintain pricing power. The new client portal has been well-received, with over 40% of pharma brand clients using it, leading to strong sales growth and easier upsells. Additionally, AI tools have grown rapidly, with over 1 million Doximity GPT prompts in Q2 2025, demonstrating the potential of AI to drive revenue growth.



Doximity's record engagement levels in Q2 2025 were driven by two main factors: a record high in articles read on the news feed and increased use of workflow tools, particularly AI tools. The company's proprietary news feed, with over 13 million articles read in Q2, personalized content for each member, driving engagement. Additionally, AI tools like Doximity GPT grew rapidly, with over 1 million prompts in Q2, helping doctors save time and manage their workload efficiently.

To maintain and build upon these trends, Doximity should continue investing in AI and personalization, as well as expanding its workflow tools to meet the evolving needs of medical professionals. The company anticipates potential longer launch timelines for new workflow products, which could impact Q4 revenue. However, Doximity's strong performance and strategic initiatives position it well for future growth.

In conclusion, Doximity's Q2 2025 earnings call revealed robust revenue growth, record engagement levels, and a promising outlook for the future. The company's focus on clinical workflow tools, telehealth, and AI assistance has driven its success and sets the stage for continued growth. As an investor, focusing on stable, income-generating investments like Doximity can provide a solid foundation for a retirement portfolio. By leveraging market opportunities and maintaining a long-term, stable income approach, investors can secure steady returns while supporting the growth of innovative companies like Doximity.