vs
Side-by-side financial comparison of Doximity, Inc. (DOCS) and Innovex International, Inc. (INVX). Click either name above to swap in a different company.
Innovex International, Inc. is the larger business by last-quarter revenue ($273.6M vs $185.1M, roughly 1.5× Doximity, Inc.). Doximity, Inc. runs the higher net margin — 33.3% vs 5.1%, a 28.2% gap on every dollar of revenue. On growth, Doximity, Inc. posted the faster year-over-year revenue change (9.8% vs 9.1%). Over the past eight quarters, Innovex International, Inc.'s revenue compounded faster (46.2% CAGR vs 25.2%).
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.
DOCS vs INVX — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $185.1M | $273.6M |
| Net Profit | $61.6M | $14.0M |
| Gross Margin | 89.9% | 28.9% |
| Operating Margin | 38.9% | 9.4% |
| Net Margin | 33.3% | 5.1% |
| Revenue YoY | 9.8% | 9.1% |
| Net Profit YoY | -18.1% | -56.1% |
| EPS (diluted) | $0.31 | $0.20 |
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 | $273.6M | ||
| Q3 25 | $168.5M | $240.0M | ||
| Q2 25 | $145.9M | $224.2M | ||
| Q1 25 | $138.3M | $240.4M | ||
| Q4 24 | $168.6M | $250.7M | ||
| Q3 24 | $136.8M | $151.8M | ||
| Q2 24 | $126.7M | $130.3M | ||
| Q1 24 | $118.1M | $128.0M |
| Q4 25 | $61.6M | $14.0M | ||
| Q3 25 | $62.1M | $39.2M | ||
| Q2 25 | $53.3M | $15.3M | ||
| Q1 25 | $62.5M | $14.8M | ||
| Q4 24 | $75.2M | $31.8M | ||
| Q3 24 | $44.2M | $82.6M | ||
| Q2 24 | $41.4M | $9.5M | ||
| Q1 24 | $40.6M | $16.4M |
| Q4 25 | 89.9% | 28.9% | ||
| Q3 25 | 90.3% | 31.6% | ||
| Q2 25 | 89.2% | 32.0% | ||
| Q1 25 | 89.5% | 31.8% | ||
| Q4 24 | 91.6% | 33.9% | ||
| Q3 24 | 90.0% | 34.7% | ||
| Q2 24 | 89.3% | 35.3% | ||
| Q1 24 | 89.4% | 38.4% |
| Q4 25 | 38.9% | 9.4% | ||
| Q3 25 | 37.8% | 26.0% | ||
| Q2 25 | 37.4% | 10.1% | ||
| Q1 25 | 35.2% | 9.1% | ||
| Q4 24 | 47.4% | 10.7% | ||
| Q3 24 | 38.8% | -8.7% | ||
| Q2 24 | 36.4% | 10.0% | ||
| Q1 24 | 35.5% | 17.4% |
| Q4 25 | 33.3% | 5.1% | ||
| Q3 25 | 36.8% | 16.3% | ||
| Q2 25 | 36.5% | 6.8% | ||
| Q1 25 | 45.2% | 6.1% | ||
| Q4 24 | 44.6% | 12.7% | ||
| Q3 24 | 32.3% | 54.4% | ||
| Q2 24 | 32.7% | 7.3% | ||
| Q1 24 | 34.4% | 12.8% |
| Q4 25 | $0.31 | $0.20 | ||
| Q3 25 | $0.31 | $0.57 | ||
| Q2 25 | $0.27 | $0.22 | ||
| Q1 25 | $0.31 | $0.21 | ||
| Q4 24 | $0.37 | $-0.03 | ||
| Q3 24 | $0.22 | $1.99 | ||
| Q2 24 | $0.21 | $0.30 | ||
| Q1 24 | $0.20 | $0.51 |
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 | — |
| Total DebtLower is stronger | — | $18.9M |
| Stockholders' EquityBook value | $979.3M | $1.1B |
| Total Assets | $1.2B | $1.3B |
| Debt / EquityLower = less leverage | — | 0.02× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $64.8M | — | ||
| Q3 25 | $169.2M | — | ||
| Q2 25 | $137.3M | — | ||
| Q1 25 | $209.6M | — | ||
| Q4 24 | $165.3M | — | ||
| Q3 24 | $184.2M | — | ||
| Q2 24 | $111.4M | $185.6M | ||
| Q1 24 | $96.8M | $202.2M |
| Q4 25 | — | $18.9M | ||
| Q3 25 | — | $20.1M | ||
| Q2 25 | — | $34.8M | ||
| Q1 25 | — | $19.7M | ||
| Q4 24 | — | $24.9M | ||
| Q3 24 | — | $12.4M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $979.3M | $1.1B | ||
| Q3 25 | $1.1B | $1.0B | ||
| Q2 25 | $1.0B | $995.6M | ||
| Q1 25 | $1.1B | $978.4M | ||
| Q4 24 | $1.0B | $958.2M | ||
| Q3 24 | $961.2M | $904.4M | ||
| Q2 24 | $913.6M | $352.5M | ||
| Q1 24 | $901.4M | $344.3M |
| Q4 25 | $1.2B | $1.3B | ||
| Q3 25 | $1.3B | $1.3B | ||
| Q2 25 | $1.2B | $1.2B | ||
| Q1 25 | $1.3B | $1.2B | ||
| Q4 24 | $1.2B | $1.2B | ||
| Q3 24 | $1.1B | $1.1B | ||
| Q2 24 | $1.1B | $1.0B | ||
| Q1 24 | $1.1B | $1.0B |
| Q4 25 | — | 0.02× | ||
| Q3 25 | — | 0.02× | ||
| Q2 25 | — | 0.03× | ||
| Q1 25 | — | 0.02× | ||
| Q4 24 | — | 0.03× | ||
| Q3 24 | — | 0.01× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $52.2M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 0.99× | 3.74× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $60.9M | $52.2M | ||
| Q3 25 | $93.9M | $48.4M | ||
| Q2 25 | $62.1M | $59.2M | ||
| Q1 25 | $98.5M | $31.1M | ||
| Q4 24 | $65.2M | $36.3M | ||
| Q3 24 | $68.3M | $21.7M | ||
| Q2 24 | $41.2M | $22.8M | ||
| Q1 24 | $63.9M | $12.6M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $16.6M | ||
| Q1 24 | — | $7.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 12.7% | ||
| Q1 24 | — | 6.1% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.0% | — | ||
| Q4 24 | 0.0% | — | ||
| Q3 24 | 0.0% | — | ||
| Q2 24 | 0.0% | 4.7% | ||
| Q1 24 | 0.0% | 3.7% |
| Q4 25 | 0.99× | 3.74× | ||
| Q3 25 | 1.51× | 1.23× | ||
| Q2 25 | 1.16× | 3.86× | ||
| Q1 25 | 1.58× | 2.11× | ||
| Q4 24 | 0.87× | 1.14× | ||
| Q3 24 | 1.55× | 0.26× | ||
| Q2 24 | 1.00× | 2.39× | ||
| Q1 24 | 1.57× | 0.77× |
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% |
INVX
| Products | $202.7M | 74% |
| Leasing | $42.3M | 15% |
| Services | $28.6M | 10% |
