DOCS — what changed in the latest 10-K

Text added vs the prior filing · source: 10-K · 2026-05-19

• We are the leading physician-first tech company, with over 3 million registered members1 as of March 31, 2026. Our registered members represent more than 85% of U.S. physicians, spanning all 50 states and every medical specialty, along with two-thirds of U.S. nurse practitioners and physician assist…

• 1 A registered member is a user who has completed the registration flow on Doximity by either claiming a pre-populated profile or creating a new profile.

• The Doximity platform is free to join and use for U.S. medical professionals. Becoming a member of Doximity is as simple as navigating to our homepage or downloading our mobile app, and completing our simple identity and credential verification process. Our platform provides most medical professiona…

• Once verified, members gain access to our network, newsfeed, and—depending on their credentials—our Clinical AI Suite, including Dialer, our voice and video telehealth product; Scribe, our ambient AI that listens during patient visits and generates structured notes; and Ask (formerly DoxGPT), which …

• time. We are able to aggregate connections to relevant content from a variety of different sources, such as medical journals and specialist websites that a member might otherwise have to search for separately.

Text removed vs the prior filing · source: 10-K · 2025-05-20

• We are the leading digital platform for U.S. medical professionals, with over two million registered members as of March 31, 2025. Our members include more than 80% of U.S. physicians, spanning all 50 states and every medical specialty, along with over 60% of U.S. nurse practitioners and physician a…

• The Doximity platform is free to join and use for U.S. medical professionals. Becoming a member of Doximity is as simple as navigating to our homepage or downloading our mobile app, and completing our simple identity and credential verification

• process. Our platform provides most medical professionals with a pre-populated Doximity professional profile, reflecting publicly and commercially available third-party data, which members can further supplement, update, and refine.

• Once verified, members gain access to our network, newsfeed, and—depending on their credentials—our workflow tools, including our voice and video telehealth product, Dialer, and our AI-powered workflow tools.

• •Medical videos. Information about recent clinical trials or research results are distributed in an easy-to-consume video format, optimized for desktop or mobile viewing. Videos are designed to be brief, relevant and eye-catching to disseminate knowledge without wasting a member’s time or disrupting…

Text added vs the prior filing · source: 10-K · 2026-05-19

• •We may become, and are subject to, litigation, which could have a material adverse effect on our business, financial condition, and results of operations.

• •Our development, deployment, and use of artificial intelligence (AI) may not achieve the expected benefits and may create operational, reputational, competitive, regulatory, legal, and liability risks.

• •We rely on evolving technologies, including AI, network and mobile infrastructure, as well as our own capabilities, to maintain and scale our business and maintain competitiveness. Any significant interruptions or delays in service in our products, on our apps or websites or any undetected errors o…

• Our investments in AI may not achieve the expected benefits and may expose us to additional risks.

• markets, or if we do not address these risks successfully, our operating and financial results may differ materially from our expectations and our business may suffer. These risks and challenges include our ability to:

Text removed vs the prior filing · source: 10-K · 2025-05-20

• While for the fiscal years ended March 31, 2025, 2024 and 2023, no customer accounted for 10% or more of total revenue, our revenue is relatively concentrated within a small number of key customers. In addition, some of our customers purchase our services indirectly through marketing agencies, some …

• In the ordinary course of business, we engage in active discussions and renegotiations with our customers, either directly or through marketing agencies, in respect of the solutions we provide and the terms of our customer agreements, including our fees. As our customers’ businesses respond to marke…

• course, we renegotiate the terms of our agreements with our customers in connection with renewals or extensions of these agreements. These discussions and future discussions could result in reductions to the fees and changes to the scope contemplated by our original customer contracts and consequent…

• our decision negatively impacts our operating results. In addition, our philosophy of putting our members first may cause disagreements, or negatively impact our relationships, with our existing or prospective customers. Our decisions may not result in the benefits that we expect, in which case our …

• platform lost patent protection. The loss of the business of a significant brand could damage our relationship with that customer and its other brands, and our revenue, operating results, financial condition, business, and future growth potential may be adversely affected.

Text added vs the prior filing · source: 10-K · 2026-05-19

• Beginning in April 2024, the Company and certain of our directors and officers have been named in lawsuits in the United States District Court for the Northern District of California. The first lawsuit (the “securities lawsuit”) is captioned In re Doximity, Inc. Securities Litigation, No. 5:24-cv-02…

• Six shareholder derivative lawsuits (the “derivative lawsuits”) were also filed. Two are consolidated under the caption In re Doximity, Inc. Stockholder Derivative Litigation, No. 5:24-cv-02801 (N.D. Cal.). Two were filed in the United States District Court for the District of Delaware, captioned Gu…

• On December 24, 2025, the parties entered into a settlement, subject to court approval, to resolve the securities lawsuit. Under the terms of the settlement, in exchange for the release and dismissal with prejudice of all claims against the defendants, the Company has agreed to cause its insurance c…

• On June 20, 2025, the Company, its Chief Technology Officer and its Director of AI Products were named as defendants in a lawsuit in the U.S. District Court for the District of Massachusetts, captioned OpenEvidence Inc. v. Doximity, Inc. et al., No. 1:25-cv-11802-RGS (D. Mass.). On September 17, 202…

• For further discussion of our legal proceedings, please refer to Note 14—Commitments and Contingencies included in Part II, Item 8 of this Annual Report on Form 10-K.

Text removed vs the prior filing · source: 10-K · 2025-05-20

• Beginning in April 2024, the Company and certain of our directors and officers have been named in lawsuits in the United States District Court for the Northern District of California. The first lawsuit is captioned In re Doximity, Inc. Securities Litigation, No. 5:24-cv-02281 (N.D. Cal.). The operat…

• For further discussion around our legal proceedings, please refer to Note 14—Commitments and Contingencies included in Part II, Item 8 of this Annual Report on Form 10-K.

Text added vs the prior filing · source: 10-K · 2026-05-19

• A discussion regarding our financial condition and results of operations for the fiscal year ended March 31, 2026 compared to the fiscal year ended March 31, 2025 is presented below. A discussion regarding our financial condition and results of operations for the fiscal year ended March 31, 2025 com…

• We are the leading digital platform for U.S. medical professionals, with over 3 million registered members2 as of March 31, 2026. Our registered members represent more than 85% of U.S. physicians, spanning all 50 states and every medical specialty, along with two-thirds of U.S. nurse practitioners a…

• 2 A registered member is a user who has completed the registration flow on Doximity by either claiming a pre-populated profile or creating a new profile.

• Unfavorable conditions in the economy may negatively affect the growth of our business and our results of operations. For example, macroeconomic events and policy uncertainty may slow decision making and budget allocation and reduce discretionary marketing spend at pharmaceutical companies. Adverse …

• We continue to closely monitor the impact of policy and macroeconomic uncertainties on all aspects of our business. While these uncertainties have not had a material adverse impact on our financial condition and results of operations to date, the extent to which these events and future policy and ma…

Text removed vs the prior filing · source: 10-K · 2025-05-20

• A discussion regarding our financial condition and results of operations for the fiscal year ended March 31, 2025 compared to the fiscal year ended March 31, 2024 is presented below. A discussion regarding our financial condition and results of operations for the fiscal year ended March 31, 2024 com…

• We are the leading digital platform for U.S. medical professionals, as measured by the number of members. Our members include more than 80% of U.S. physicians, spanning all 50 states and every medical specialty.

• Number of customers with at least $500,000 of revenue 1169981

• Marketing Solutions. Our customers purchase a subscription to Marketing Solutions, either directly or through marketing agencies, for the ability to share tailored content on the Doximity platform via a variety of modules for defined time periods. We generally bill customers a portion of the contrac…

• •Integrated and other subscriptions that are not tied to a single module per month but allow customers to utilize a given module or combination of modules during the subscription period, subject to limits on the total number of modules launched in a given period of time, active at any given time, an…