Exhibit 99.1

Doximity Announces Fiscal 2025 Third Quarter Financial Results

Total revenues of $168.6 million, up 25% year-over-year

Net income growth of 57% and adjusted EBITDA growth of 39% year-over-year

Fiscal 2025 Third Quarter Financial Highlights

Financial Outlook

Conference Call Information

About Doximity

Forward-Looking Statements

Statements we make in this press release may include statements which are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act, which are usually identified by the use of words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “may,” “plans,” “projects,” “seeks,” “should,” “will,” and variations of such words or similar expressions. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Securities Exchange Act and are making this statement for purposes of complying with those safe harbor provisions. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations, or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors including (i) the timing and scope of anticipated stock repurchases; (ii) the impact of uncertainty in the current economic environment and macroeconomic uncertainty; (iii) our ability to retain existing members or add new members to our platform and maintain or grow their engagement with our platform; (iv) our ability to attract new customers or retain existing customers; (v) the impact of our prioritization of our members’ interests; (vi) breaches in our security measures or unauthorized access to members’ data; (vii) our ability to maintain or manage our growth, and other risks and factors that are beyond our control including, without limitation, those set forth in the section entitled “Risk Factors”in our Annual Report on Form 10-K for the fiscal year ended March 31, 2024 and as may be updated in any subsequent Quarterly Reports on Form 10-Q. Moreover, we operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could cause actual results to differ materially from those contained in our forward-looking statements. The forward-looking statements made in this press release relate only to management’s beliefs and assumptions as of this date. We assume no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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DOXIMITY, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

(unaudited)

			December 31, 2024						March 31, 2024
Assets
Current assets:
Cash and cash equivalents			$	165,270					$	96,785
Marketable securities			679,670						666,115
Accounts receivable, net			137,504						101,332
Prepaid expenses and other current assets			30,259						48,709
Total current assets			1,012,703						912,941
Property and equipment, net			13,477						12,318
Deferred income tax assets			43,079						45,068
Operating lease right-of-use assets			9,332						12,332
Intangible assets, net			24,134						27,317
Goodwill			67,940						67,940
Other assets			1,492						1,458
Total assets			$	1,172,157					$	1,079,374
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable			$	1,636					$	2,253
Accrued expenses and other current liabilities			42,793						43,703
Deferred revenue, current			69,197						99,145
Operating lease liabilities, current			2,255						2,149
Total current liabilities			115,881						147,250
Deferred revenue, non-current			73						211
Operating lease liabilities, non-current			10,692						12,397
Contingent earn-out consideration liability, non-current			5,498						10,895
Other liabilities, non-current			8,893						7,224
Total liabilities			141,037						177,977
Stockholders' Equity
Preferred stock			—						—
Common stock			188						187
Additional paid-in capital			878,701						823,885
Accumulated other comprehensive income (loss)			1,015						(2,664)
Retained earnings			151,216						79,989
Total stockholders’ equity			1,031,120						901,397
Total liabilities and stockholders’ equity			$	1,172,157					$	1,079,374

DOXIMITY, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data)

(unaudited)

DOXIMITY, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

(unaudited)

			Three Months Ended December 31,												Nine Months Ended December 31,
			2024						2023						2024						2023
Cash flows from operating activities
Net income			$	75,196					$	47,956					$	160,727					$	106,964
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization			2,655						2,509						7,830						7,717
Deferred income taxes			1,992						—						2,196						—
Stock-based compensation, net of amounts capitalized			19,368						11,771						54,326						39,219
Non-cash lease expense			441						522						1,392						1,599
Accretion of discount on marketable securities, net			(3,368)						(1,683)						(8,736)						(3,477)
Amortization of deferred contract costs			1,785						1,548						6,544						6,278
Impairment of long-lived assets			—						—						2,304						—
Other			411						1,500						289						1,627
Changes in operating assets and liabilities:
Accounts receivable			(12,986)						(1,135)						(36,464)						8,509
Prepaid expenses and other assets			1,303						6,523						21,251						(3,981)
Deferred contract costs			(5,853)						(4,477)						(9,069)						(6,925)
Accounts payable, accrued expenses and other liabilities			9,418						10,429						3,872						2,366
Deferred revenue			(24,628)						(24,823)						(30,085)						(38,576)
Operating lease liabilities			(545)						(586)						(1,599)						(1,168)
Net cash provided by operating activities			65,189						50,054						174,778						120,152
Cash flows from investing activities
Purchases of property and equipment			—						(36)						—						(147)
Internal-use software development costs			(1,771)						(1,288)						(5,018)						(4,020)
Purchases of marketable securities			(164,025)						(101,112)						(531,833)						(281,338)
Maturities of marketable securities			99,308						105,418						517,221						318,186
Sales of marketable securities			7,564						37,150						14,805						74,675
Net cash provided by (used in) investing activities			(58,924)						40,132						(4,825)						107,356
Cash flows from financing activities
Proceeds from issuance of common stock upon exercise of stock options and common stock warrants			3,662						2,540						13,905						9,758
Proceeds from issuance of common stock in connection with the employee stock purchase plan			—						—						1,422						1,494
Taxes paid related to net share settlement of equity awards			(8,107)						(1,248)						(16,329)						(5,332)
Repurchase of common stock			(19,307)						(76,792)						(93,505)						(262,976)
Payment of contingent consideration related to a business combination			—						—						(5,470)						(5,390)
Payment of excise taxes on share repurchases			(1,491)						—						(1,491)						—
Net cash used in financing activities			(25,243)						(75,500)						(101,468)						(262,446)
Net increase (decrease) in cash and cash equivalents			(18,978)						14,686						68,485						(34,938)
Cash and cash equivalents, beginning of period			184,248						108,403						96,785						158,027
Cash and cash equivalents, end of period			$	165,270					$	123,089					$	165,270					$	123,089
Supplemental disclosures of cash flow information
Cash paid for taxes, net of refunds			$	13,829					$	8,925					$	35,814					$	38,363

Non-GAAP Financial Measures

Key Business Metrics

Reconciliation of GAAP to Non-GAAP Financial Measures