vs
Side-by-side financial comparison of Doximity, Inc. (DOCS) and HCI Group, Inc. (HCI). Click either name above to swap in a different company.
HCI Group, Inc. is the larger business by last-quarter revenue ($246.2M vs $185.1M, roughly 1.3× Doximity, Inc.). HCI Group, Inc. runs the higher net margin — 39.7% vs 33.3%, a 6.4% gap on every dollar of revenue. On growth, HCI Group, Inc. posted the faster year-over-year revenue change (52.1% vs 9.8%). Over the past eight quarters, Doximity, Inc.'s revenue compounded faster (25.2% CAGR vs 9.2%).
Doximity is an online networking service for medical professionals. Launched in 2010, the platform offers its members curated medical news, telehealth tools, and case collaboration.
HCI Equity Partners is a Washington, DC–based private equity firm with an additional office in Chicago, Illinois.
DOCS vs HCI — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $185.1M | $246.2M |
| Net Profit | $61.6M | $97.7M |
| Gross Margin | 89.9% | — |
| Operating Margin | 38.9% | 58.5% |
| Net Margin | 33.3% | 39.7% |
| Revenue YoY | 9.8% | 52.1% |
| Net Profit YoY | -18.1% | 3679.2% |
| EPS (diluted) | $0.31 | $7.29 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $185.1M | $246.2M | ||
| Q3 25 | $168.5M | $216.3M | ||
| Q2 25 | $145.9M | $221.9M | ||
| Q1 25 | $138.3M | $216.4M | ||
| Q4 24 | $168.6M | $161.9M | ||
| Q3 24 | $136.8M | $175.3M | ||
| Q2 24 | $126.7M | $206.2M | ||
| Q1 24 | $118.1M | $206.6M |
| Q4 25 | $61.6M | $97.7M | ||
| Q3 25 | $62.1M | $65.5M | ||
| Q2 25 | $53.3M | $66.2M | ||
| Q1 25 | $62.5M | $69.7M | ||
| Q4 24 | $75.2M | $2.6M | ||
| Q3 24 | $44.2M | $5.7M | ||
| Q2 24 | $41.4M | $54.1M | ||
| Q1 24 | $40.6M | $47.6M |
| Q4 25 | 89.9% | — | ||
| Q3 25 | 90.3% | — | ||
| Q2 25 | 89.2% | — | ||
| Q1 25 | 89.5% | — | ||
| Q4 24 | 91.6% | — | ||
| Q3 24 | 90.0% | — | ||
| Q2 24 | 89.3% | — | ||
| Q1 24 | 89.4% | — |
| Q4 25 | 38.9% | 58.5% | ||
| Q3 25 | 37.8% | 41.9% | ||
| Q2 25 | 37.4% | 42.5% | ||
| Q1 25 | 35.2% | 46.4% | ||
| Q4 24 | 47.4% | 3.6% | ||
| Q3 24 | 38.8% | 8.0% | ||
| Q2 24 | 36.4% | 36.9% | ||
| Q1 24 | 35.5% | 37.5% |
| Q4 25 | 33.3% | 39.7% | ||
| Q3 25 | 36.8% | 30.3% | ||
| Q2 25 | 36.5% | 29.8% | ||
| Q1 25 | 45.2% | 32.2% | ||
| Q4 24 | 44.6% | 1.6% | ||
| Q3 24 | 32.3% | 3.2% | ||
| Q2 24 | 32.7% | 26.2% | ||
| Q1 24 | 34.4% | 23.0% |
| Q4 25 | $0.31 | $7.29 | ||
| Q3 25 | $0.31 | $4.90 | ||
| Q2 25 | $0.27 | $5.18 | ||
| Q1 25 | $0.31 | $5.35 | ||
| Q4 24 | $0.37 | $0.32 | ||
| Q3 24 | $0.22 | $0.52 | ||
| Q2 24 | $0.21 | $4.24 | ||
| Q1 24 | $0.20 | $3.81 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $64.8M | $1.2B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $979.3M | $1.0B |
| Total Assets | $1.2B | $2.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $64.8M | $1.2B | ||
| Q3 25 | $169.2M | $987.9M | ||
| Q2 25 | $137.3M | $947.2M | ||
| Q1 25 | $209.6M | $754.5M | ||
| Q4 24 | $165.3M | $532.5M | ||
| Q3 24 | $184.2M | $518.8M | ||
| Q2 24 | $111.4M | $445.8M | ||
| Q1 24 | $96.8M | $655.4M |
| Q4 25 | $979.3M | $1.0B | ||
| Q3 25 | $1.1B | $821.8M | ||
| Q2 25 | $1.0B | $758.6M | ||
| Q1 25 | $1.1B | $522.7M | ||
| Q4 24 | $1.0B | $453.3M | ||
| Q3 24 | $961.2M | $455.3M | ||
| Q2 24 | $913.6M | $447.3M | ||
| Q1 24 | $901.4M | $395.7M |
| Q4 25 | $1.2B | $2.5B | ||
| Q3 25 | $1.3B | $2.3B | ||
| Q2 25 | $1.2B | $2.4B | ||
| Q1 25 | $1.3B | $2.3B | ||
| Q4 24 | $1.2B | $2.2B | ||
| Q3 24 | $1.1B | $2.0B | ||
| Q2 24 | $1.1B | $1.9B | ||
| Q1 24 | $1.1B | $1.8B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $60.9M | $444.4M |
| Free Cash FlowOCF − Capex | — | $440.8M |
| FCF MarginFCF / Revenue | — | 179.0% |
| Capex IntensityCapex / Revenue | — | 1.5% |
| Cash ConversionOCF / Net Profit | 0.99× | 4.55× |
| TTM Free Cash FlowTrailing 4 quarters | — | $771.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $60.9M | $444.4M | ||
| Q3 25 | $93.9M | $26.7M | ||
| Q2 25 | $62.1M | $145.0M | ||
| Q1 25 | $98.5M | $162.0M | ||
| Q4 24 | $65.2M | $331.8M | ||
| Q3 24 | $68.3M | $104.1M | ||
| Q2 24 | $41.2M | $-29.0M | ||
| Q1 24 | $63.9M | $182.0M |
| Q4 25 | — | $440.8M | ||
| Q3 25 | — | $25.9M | ||
| Q2 25 | — | $144.5M | ||
| Q1 25 | — | $160.3M | ||
| Q4 24 | — | $327.8M | ||
| Q3 24 | — | $103.2M | ||
| Q2 24 | — | $-30.1M | ||
| Q1 24 | — | $181.0M |
| Q4 25 | — | 179.0% | ||
| Q3 25 | — | 12.0% | ||
| Q2 25 | — | 65.1% | ||
| Q1 25 | — | 74.1% | ||
| Q4 24 | — | 202.5% | ||
| Q3 24 | — | 58.9% | ||
| Q2 24 | — | -14.6% | ||
| Q1 24 | — | 87.6% |
| Q4 25 | — | 1.5% | ||
| Q3 25 | — | 0.4% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | 0.0% | 0.8% | ||
| Q4 24 | 0.0% | 2.5% | ||
| Q3 24 | 0.0% | 0.5% | ||
| Q2 24 | 0.0% | 0.5% | ||
| Q1 24 | 0.0% | 0.5% |
| Q4 25 | 0.99× | 4.55× | ||
| Q3 25 | 1.51× | 0.41× | ||
| Q2 25 | 1.16× | 2.19× | ||
| Q1 25 | 1.58× | 2.32× | ||
| Q4 24 | 0.87× | 128.41× | ||
| Q3 24 | 1.55× | 18.33× | ||
| Q2 24 | 1.00× | -0.54× | ||
| Q1 24 | 1.57× | 3.82× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DOCS
| Subscription | $175.4M | 95% |
| Service Other | $9.7M | 5% |
HCI
| Insurance Operation | $218.3M | 89% |
| Reciprocal Exchange Operation | $27.0M | 11% |
