Doximity Inc
For the period ended Mar 31, 2025. Filed May 20, 2025.
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FY2025 · Filed May 20, 2025
DOCS$32.42-1.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued)
| Fiscal Year Ended March 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Cash flows from operating activities | |||
| Net income | $223,185 | $147,582 | $112,818 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 10,659 | 10,265 | 10,283 |
| Deferred income taxes | (11,592) | (8,593) | 13,226 |
| Stock-based compensation, net of amounts capitalized | 72,386 | 51,076 | 47,834 |
| Non-cash lease expense | 1,838 | 2,074 | 2,027 |
| Amortization of premium (accretion of discount) on marketable securities, net | (11,655) | (5,238) | 3,115 |
| Amortization of deferred contract costs | 9,967 | 8,871 | 8,785 |
| Impairment of long-lived assets | 2,304 | — | — |
| Other | 270 | 2,583 | 2,547 |
| Changes in operating assets and liabilities, net of effect of acquisition: | |||
| Accounts receivable | (27,206) | 3,993 | (26,242) |
| Prepaid expenses and other assets | 2,762 | (20,483) | (3,448) |
| Deferred contract costs | (12,051) | (8,608) | (8,462) |
| Accounts payable, accrued expenses and other liabilities | (663) | 8,332 | (195) |
| Deferred revenue | 15,210 | (6,080) | 17,527 |
| Operating lease liabilities | (2,149) | (1,678) | (213) |
| Net cash provided by operating activities | 273,265 | 184,096 | 179,602 |
| Cash flows from investing activities | |||
| Cash paid for acquisition | — | — | (53,500) |
| Purchases of property and equipment | — | (147) | (1,701) |
| Internal-use software development costs | (6,525) | (5,654) | (4,483) |
| Purchases of marketable securities | (675,557) | (472,867) | (190,560) |
| Maturities of marketable securities | 635,401 | 435,179 | 83,139 |
| Sales of marketable securities | 17,383 | 74,675 | 107,182 |
| Net cash provided by (used in) investing activities | (29,298) | 31,186 | (59,923) |
| Cash flows from financing activities | |||
| Proceeds from issuance of common stock upon exercise of stock options and common stock warrants | 19,732 | 12,892 | 9,926 |
| Proceeds from issuance of common stock in connection with the employee stock purchase plan | 3,569 | 3,446 | 4,759 |
| Taxes paid related to net share settlement of equity awards | (27,185) | (6,756) | (3,822) |
| Repurchase of common stock | (120,293) | (280,716) | (85,324) |
| Payment of contingent consideration related to a business combination | (5,470) | (5,390) | — |
| Payment of excise taxes on share repurchases | (1,491) | — | — |
| Net cash used in financing activities | (131,138) | (276,524) | (74,461) |
| Net increase (decrease) in cash and cash equivalents | 112,829 | (61,242) | 45,218 |
| Cash and cash equivalents, beginning of period | 96,785 | 158,027 | 112,809 |
| Cash and cash equivalents, end of period | $209,614 | $96,785 | $158,027 |
| Supplemental disclosures of cash flow information | |||
| Cash paid for taxes, net of refunds | $55,654 | $51,274 | $5,231 |
| Non-cash financing and investing activities | |||
| Fair value of contingent earn-out consideration included in purchase consideration | $— | $— | $21,134 |
| Operating lease right-of-use assets obtained in exchange for operating lease liabilities | $— | $587 | $14,759 |
| Repurchase included in accrued expenses | $— | $4,000 | $748 |
| Excise tax payable on share repurchases | $— | $1,493 | $— |
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