Doximity, Inc.
For the period ended Mar 31, 2026. Filed May 19, 2026.
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FY2026 · Filed May 19, 2026
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, | |||
|---|---|---|---|
| 2026 | 2025 | 2024 | |
| Cash flows from operating activities | |||
| Net income | $196,051 | $223,185 | $147,582 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 14,383 | 10,659 | 10,265 |
| Deferred income taxes | 32,138 | (11,592) | (8,593) |
| Stock-based compensation, net of amounts capitalized | 121,627 | 72,386 | 51,076 |
| Non-cash lease expense | 1,747 | 1,838 | 2,074 |
| Accretion of discount on marketable securities, net | (7,581) | (11,655) | (5,238) |
| Amortization of deferred contract costs | 13,478 | 9,967 | 8,871 |
| Impairment of long-lived assets | — | 2,304 | — |
| Other | 314 | 270 | 2,583 |
| Changes in operating assets and liabilities, net of effect of acquisition: | |||
| Accounts receivable | (16,879) | (27,206) | 3,993 |
| Prepaid expenses and other assets | (8,272) | 2,762 | (20,483) |
| Deferred contract costs | (14,490) | (12,051) | (8,608) |
| Accounts payable, accrued expenses and other liabilities | 4,268 | (663) | 8,332 |
| Deferred revenue | (8,115) | 15,210 | (6,080) |
| Operating lease liabilities | (2,211) | (2,149) | (1,678) |
| Net cash provided by operating activities | 326,458 | 273,265 | 184,096 |
| Cash flows from investing activities | |||
| Cash paid for acquisition, net of cash acquired | (26,528) | — | — |
| Purchases of property and equipment | — | — | (147) |
| Purchases of intangible assets | (62) | — | — |
| Internal-use software development costs | (8,901) | (6,525) | (5,654) |
| Purchases of marketable securities | (389,159) | (675,557) | (472,867) |
| Maturities of marketable securities | 561,434 | 635,401 | 435,179 |
| Sales of marketable securities | 10,386 | 17,383 | 74,675 |
| Net cash provided by (used in) investing activities | 147,170 | (29,298) | 31,186 |
| Cash flows from financing activities | |||
| Proceeds from issuance of common stock upon exercise of stock options and common stock warrants | 9,784 | 19,732 | 12,892 |
| Proceeds from issuance of common stock in connection with the employee stock purchase plan | 3,892 | 3,569 | 3,446 |
| Taxes paid related to net share settlement of equity awards | (40,839) | (27,185) | (6,756) |
| Repurchase of common stock | (431,652) | (120,293) | (280,716) |
| Payment of contingent consideration related to a business combination | (5,249) | (5,470) | (5,390) |
| Payment of excise taxes on share repurchases | — | (1,491) | — |
| Net cash used in financing activities | (464,064) | (131,138) | (276,524) |
| Net increase (decrease) in cash and cash equivalents | 9,564 | 112,829 | (61,242) |
| Cash and cash equivalents, beginning of period | 209,614 | 96,785 | 158,027 |
| Cash and cash equivalents, end of period | $219,178 | $209,614 | $96,785 |
| Supplemental disclosures of cash flow information | |||
| Cash paid for taxes, net of refunds | $21,814 | $55,654 | $51,274 |
| Non-cash financing and investing activities | |||
| Equity awards included in purchase consideration | $9,550 | $— | $— |
| Capitalized stock-based compensation for internal-use software development costs | $3,633 | $1,845 | $1,083 |
| Excise tax payable on share repurchases | $2,347 | $— | $1,493 |
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