Doximity (NYSE:DOCS) Q3 2026 Earnings call February 05, 2026 05:00 PM ET Company ParticipantsBrian Peterson - Managing DirectorCraig Hettenbach - Executive DirectorDavid Roman - Managing DirectorElizabeth Anderson - Senior Managing DirectorGlenn Santangelo - Managing DirectorJeff Garro - Managing Director of Healthcare IT Equity ResearchJeff Tangney - CEO and Co-FounderMichael Cherny - Senior Managing DirectorPerry Gold - VP of Investor RelationsRichard Close - Managing Director Digital and Tech-Enabled Hea ...

Doximity (NYSE:DOCS) Q3 2026 Earnings call February 05, 2026 05:00 PM ET Company ParticipantsBrian Peterson - Managing DirectorCraig Hettenbach - Executive DirectorDavid Roman - Managing DirectorElizabeth Anderson - Senior Managing DirectorGlenn Santangelo - Managing DirectorJeff Garro - Managing Director of Healthcare IT Equity ResearchJeff Tangney - CEO and Co-FounderMichael Cherny - Senior Managing DirectorPerry Gold - VP of Investor RelationsRichard Close - Managing Director Digital and Tech-Enabled Hea ...

Doximity (NYSE:DOCS) Q3 2026 Earnings call February 05, 2026 05:00 PM ET Speaker8Thank you for standing by. My name is JL, and I'll be your conference operator today. At this time, I would like to welcome everyone to the Doximity third quarter 2026 earnings call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. If you would like to ask a question during this time, simply press star followed by the number 1 on your t ...

编辑：罗浩 目前，该产品已进入实际应用阶段，主要面向临床、科研领域的医生群体。阿里健康此前在财报中透 露，其自研医学大模型正在积极探索在严肃医疗领域的应用场景，致力增强模型在临床决策、临床科研 等关键环节的AI循证能力。此次，"氢离子"正是该模型能力的首个产品化体现。 转自：新华财经 据了解，阿里巴巴已通过通义千问、蚂蚁阿福布局C端健康服务。高门槛、高专业性的严肃医疗场景应 用，则交由深耕医疗健康领域十余年的阿里健康承接。至此，阿里在医疗健康领域的AI布局已实 现"C+D"端布局。 新华财经北京1月19日电（记者沈寅飞）记者从阿里健康获悉，近日，阿里健康AI产品"氢离子"已完成 内测并开放下载。 ...

Core Insights - Huawei Cloud aims to build an "AI dream factory" by collaborating with developers to enhance productivity in various industries through an open vertical community [1][3] Group 1: Strategic Vision - Huawei Cloud's core positioning is to empower industry AI with a "fertile black land" concept, emphasizing that the cloud is not just a commercial platform but an open and prosperous community [3] - The company plans to establish multiple vertical developer communities, such as the embodied intelligence development community and the "Magic Engine Community," to lower barriers for robot development and promote clinical applications of medical AI [3][4] Group 2: Resource Allocation - To achieve its AI dream factory goal, Huawei Cloud will concentrate more resources and manpower on the AI sector, leveraging its strengths in computing and networking hardware to build robust domestic infrastructure [3] - The company will provide an open ModelArts platform supporting various models and third-party models, along with intelligent programming tools and platforms to create a fertile ground for innovation [3] Group 3: Ecosystem Development - Huawei Cloud has over 10 million developers and more than 50,000 partners, continuously empowering developer growth through initiatives like "Wotuyun Chuang" and various training and competition programs [4] - The company suggests developers focus on two key areas: utilizing "model + agent" to replicate human experiential knowledge and optimizing complex decision-making systems through AI [4]

Company Overview - Open Evidence is an AI co-pilot for physicians designed to increase accuracy for patient care [1][2] - The company has a $6 billion valuation [1] - Google is one of Open Evidence's largest investors [9][10] Product & Technology - Open Evidence is a free AI chatbot for healthcare providers, similar to ChatGPT, assisting doctors in making clinical decisions [1][2] - The AI is trained on peer-reviewed medical journals from sources like the New England Journal of Medicine, the American Medical Association, NCCN, and the ACC [13] - The company emphasizes that doctors are always the "last mile," making the final decisions, similar to the philosophy behind the Bloomberg terminal [5][6] Market Impact & Usage - Open Evidence claims that about 40% of doctors in the US are already using the chatbot [1] - More than 100 million Americans will be treated by a doctor using Open Evidence this year [3] - In October alone, there were 17 million AI clinical consultations from logged-in, verified US doctors and other healthcare professionals [3] Competitive Advantage - Open Evidence focuses specifically on providing accurate medical answers to physicians at the point of care, unlike larger AI labs that build AI horizontally [11][12] - Strategic partnerships with leading medical societies and training on gold standard medical knowledge provide a competitive moat [13][14] Industry Trends & Challenges - The US government is projecting a shortage of 100,000 doctors by the end of the decade [7] - Doctors are facing burnout due to excessive medical information and patient loads, creating a need for force multipliers like AI [7][8]

Company Overview - Doximity is the largest online network for medical clinicians in the US, with 80% of US physicians and 50% of nurse practitioners and physician assistants as verified members [2] - The platform facilitates communication among healthcare professionals and allows for secure patient interactions via video calls, enhancing collaboration and information dissemination [3] Recent Developments - Doximity acquired Pathway Medical for $36 million, a Canadian company specializing in medical AI and clinical reference systems, which will enhance Doximity's offerings [8] - In fiscal 1Q26, Doximity reported revenue of $145.9 million, a 15% year-over-year increase, exceeding estimates by $6.36 million [9] Financial Performance - The company achieved a non-GAAP EPS of 36 cents, up from 28 cents year-over-year, and reported a 52% increase in free cash flow to $60.1 million [9] - Analysts expect Doximity's revenue growth to potentially accelerate in CY26, with a three-year revenue/EBITDA CAGR forecasted at 11%/12% [10] Analyst Ratings - Bank of America analyst Allen Lutz maintains a Buy rating on Doximity, with a price target of $82, suggesting a potential gain of approximately 24.5% [11] - The overall consensus rating for Doximity shares is Moderate Buy, based on 17 reviews, including 10 Buy, 5 Hold, and 2 Sell [11]

Core Insights - Medical Care Technologies Inc. is entering a new phase of leadership and innovation under CEO Marshall Perkins, who has a compelling personal story that aligns with the company's mission to transform healthcare [1] Company Overview - CEO Marshall Perkins recently overcame a severe health challenge, battling advanced bone cancer that resulted in significant physical damage and a lengthy hospitalization [1]

Core Viewpoint - Ping An Healthcare and Technology Company Limited reported strong interim results for the first half of 2025, showcasing significant revenue growth and improved profitability, driven by advancements in its core business and medical AI capabilities [1]. Financial Performance - The Company recorded revenue of RMB2.5 billion, representing a year-on-year increase of 19.5% [2]. - Net profit attributable to shareholders rose to RMB134 million, a year-on-year increase of 136.8% [2]. - Adjusted net profit was RMB165 million, up 83.6% year-on-year [2]. - The gross profit margin increased to 33.6% due to AI enablement and business mix optimization [2]. Core Business Development - Revenue from the integrated finance business ("F-end") and corporate health management business ("B-end") increased by 30.2% year-on-year [3]. - The Company expanded its family doctor services and senior care concierge services, leading to a significant increase in member coverage [3]. - Over 35.0 million users were entitled to family doctor service benefits, while those entitled to home-based senior care benefits increased by 83% year-on-year [3]. Technological Innovation - The Company enhanced its AI-driven healthcare services by leveraging its "data + models + scenario" closed-loop advantage [4]. - The accuracy rate of AI-assisted inquiry and consultation reached approximately 98%, while the accuracy of MDT complex disease treatment was nearly 80% [4]. - AI helped doctors handle up to 4.0 million consultation requests per day and reduced family doctors' average service cost per customer by approximately 52% year-on-year [4]. - Operational efficiency in the middle office improved by approximately 50% year-on-year due to AI-driven process reengineering and optimization [4].

Financial Data and Key Metrics Changes - Doximity reported revenue of $146 million for Q1 FY2026, representing a 15% year-on-year growth and a 4% beat from the high end of guidance [7] - Adjusted EBITDA margin was 55%, amounting to $80 million, which was 11% above the high end of guidance [7] - Free cash flow increased by 52% year-on-year, reaching $60.1 million [22] - Non-GAAP gross margin for Q1 was 91%, down from 92% in the prior year [21] Business Line Data and Key Metrics Changes - Unique active users across all metrics (quarterly, monthly, daily) reached record highs, with double-digit percentage growth year-on-year [9] - The number of unique active prescribers using workflow tools reached 630,000, marking significant engagement [9] - The AI tools experienced over 5x year-on-year growth [9] Market Data and Key Metrics Changes - Doximity's net revenue retention rate was 118% on a trailing twelve-month basis, with the top 20 customers showing a higher rate of 119% [20] - The company ended the quarter with 120 customers contributing at least $500,000 each in subscription-based revenue, a 17% increase from the previous year [21] Company Strategy and Development Direction - Doximity is focusing on AI integration, with the launch of the Doximity AI Scribe and the acquisition of Pathway, aiming to enhance physician productivity [19][23] - The company plans to integrate Scribe into telehealth tools, creating a seamless experience for physicians [13] - Doximity aims to build a comprehensive AI suite that addresses clinical questions and enhances workflow efficiency [19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business's strength despite ongoing policy uncertainty, noting no slowdown in customer budgets [27] - The outlook for FY2026 includes revenue guidance of $628 million to $636 million, reflecting an 11% growth at the midpoint [25] - Management highlighted the importance of AI investments for long-term growth and productivity improvements [56] Other Important Information - The Pathway acquisition was completed for $26 million in cash and up to $37 million in equity grants, with no expected revenue contribution this year [24] - The company repurchased $122.3 million worth of shares during the first quarter [23] Q&A Session Summary Question: How can you frame the opportunity for investors regarding Scribe, Pathways, and Doximity GPT? - Management sees these AI tools as a potential third act, enhancing physician engagement and addressing clinical questions in real-time [31] Question: Can you provide insights on customer budgets and the second half guidance? - Management noted strong Q1 performance but cautioned against extrapolating this into the second half due to policy uncertainties [36] Question: What are the qualitative differences in upsell cycles this year? - Management indicated broad-based strength across all customer segments, with significant growth in SMB customers [40] Question: How do you view the drivers of continued provider use of products? - Management highlighted the stickiness of workflow tools and the importance of AI in enhancing user engagement [48] Question: Will the new AI offerings become standalone revenue generators? - Management anticipates that AI products like Scribe could evolve into enterprise revenue streams similar to the Doximity Dialer [59] Question: What is the current state of the Provider Solutions business? - Management reported strong traction in the health system business, particularly in enterprise offerings [99] Question: How is the news feed performing and what developments are there? - Management noted record high engagement in the news feed, with video content becoming increasingly important [109]