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Side-by-side financial comparison of Doximity, Inc. (DOCS) and IREN Ltd (IREN). Click either name above to swap in a different company.
Doximity, Inc. is the larger business by last-quarter revenue ($185.1M vs $184.7M, roughly 1.0× IREN Ltd). Doximity, Inc. runs the higher net margin — 33.3% vs -84.1%, a 117.4% gap on every dollar of revenue. On growth, IREN Ltd posted the faster year-over-year revenue change (59.0% vs 9.8%).
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.
IREN Ltd. is a vertically integrated data center business powering the future of Bitcoin, AI and beyond with renewable energy. It is strategically located in renewable-rich, fiber-connected regions across the US and Canada.
DOCS vs IREN — Head-to-Head
Income Statement — Q3 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $185.1M | $184.7M |
| Net Profit | $61.6M | $-155.4M |
| Gross Margin | 89.9% | 64.4% |
| Operating Margin | 38.9% | -63.0% |
| Net Margin | 33.3% | -84.1% |
| Revenue YoY | 9.8% | 59.0% |
| Net Profit YoY | -18.1% | -610.0% |
| EPS (diluted) | $0.31 | $-0.52 |
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 | $184.7M | ||
| Q3 25 | $168.5M | $240.3M | ||
| Q2 25 | $145.9M | — | ||
| Q1 25 | $138.3M | — | ||
| Q4 24 | $168.6M | $116.1M | ||
| Q3 24 | $136.8M | $52.8M | ||
| Q2 24 | $126.7M | — | ||
| Q1 24 | $118.1M | $54.3M |
| Q4 25 | $61.6M | $-155.4M | ||
| Q3 25 | $62.1M | $384.6M | ||
| Q2 25 | $53.3M | — | ||
| Q1 25 | $62.5M | — | ||
| Q4 24 | $75.2M | $-21.9M | ||
| Q3 24 | $44.2M | $-51.7M | ||
| Q2 24 | $41.4M | — | ||
| Q1 24 | $40.6M | $8.6M |
| Q4 25 | 89.9% | 64.4% | ||
| Q3 25 | 90.3% | 66.4% | ||
| Q2 25 | 89.2% | — | ||
| Q1 25 | 89.5% | — | ||
| Q4 24 | 91.6% | 72.2% | ||
| Q3 24 | 90.0% | 39.6% | ||
| Q2 24 | 89.3% | — | ||
| Q1 24 | 89.4% | — |
| Q4 25 | 38.9% | -63.0% | ||
| Q3 25 | 37.8% | -31.8% | ||
| Q2 25 | 37.4% | — | ||
| Q1 25 | 35.2% | — | ||
| Q4 24 | 47.4% | 14.9% | ||
| Q3 24 | 38.8% | -89.2% | ||
| Q2 24 | 36.4% | — | ||
| Q1 24 | 35.5% | 11.1% |
| Q4 25 | 33.3% | -84.1% | ||
| Q3 25 | 36.8% | 160.1% | ||
| Q2 25 | 36.5% | — | ||
| Q1 25 | 45.2% | — | ||
| Q4 24 | 44.6% | -18.8% | ||
| Q3 24 | 32.3% | -98.0% | ||
| Q2 24 | 32.7% | — | ||
| Q1 24 | 34.4% | 15.9% |
| Q4 25 | $0.31 | $-0.52 | ||
| Q3 25 | $0.31 | $1.08 | ||
| Q2 25 | $0.27 | — | ||
| Q1 25 | $0.31 | — | ||
| Q4 24 | $0.37 | $-0.10 | ||
| Q3 24 | $0.22 | $-0.27 | ||
| Q2 24 | $0.21 | — | ||
| Q1 24 | $0.20 | $0.00 |
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 | $3.3B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $979.3M | $2.5B |
| Total Assets | $1.2B | $7.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $64.8M | $3.3B | ||
| Q3 25 | $169.2M | $1.0B | ||
| Q2 25 | $137.3M | — | ||
| Q1 25 | $209.6M | — | ||
| Q4 24 | $165.3M | $427.3M | ||
| Q3 24 | $184.2M | $98.6M | ||
| Q2 24 | $111.4M | — | ||
| Q1 24 | $96.8M | $259.7M |
| Q4 25 | $979.3M | $2.5B | ||
| Q3 25 | $1.1B | $2.9B | ||
| Q2 25 | $1.0B | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $1.0B | $1.2B | ||
| Q3 24 | $961.2M | $1.1B | ||
| Q2 24 | $913.6M | — | ||
| Q1 24 | $901.4M | $677.2M |
| Q4 25 | $1.2B | $7.0B | ||
| Q3 25 | $1.3B | $4.3B | ||
| Q2 25 | $1.2B | — | ||
| Q1 25 | $1.3B | — | ||
| Q4 24 | $1.2B | $1.9B | ||
| Q3 24 | $1.1B | $1.3B | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $1.1B | $723.6M |
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 | $71.7M |
| Free Cash FlowOCF − Capex | — | $-468.0M |
| FCF MarginFCF / Revenue | — | -253.4% |
| Capex IntensityCapex / Revenue | — | 292.2% |
| Cash ConversionOCF / Net Profit | 0.99× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-701.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $60.9M | $71.7M | ||
| Q3 25 | $93.9M | $142.4M | ||
| Q2 25 | $62.1M | — | ||
| Q1 25 | $98.5M | — | ||
| Q4 24 | $65.2M | $53.6M | ||
| Q3 24 | $68.3M | $-3.9M | ||
| Q2 24 | $41.2M | — | ||
| Q1 24 | $63.9M | $-27.1M |
| Q4 25 | — | $-468.0M | ||
| Q3 25 | — | $-38.0M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $-85.5M | ||
| Q3 24 | — | $-109.7M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $-108.3M |
| Q4 25 | — | -253.4% | ||
| Q3 25 | — | -15.8% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -73.6% | ||
| Q3 24 | — | -208.0% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -199.4% |
| Q4 25 | — | 292.2% | ||
| Q3 25 | — | 75.0% | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.0% | — | ||
| Q4 24 | 0.0% | 119.7% | ||
| Q3 24 | 0.0% | 200.6% | ||
| Q2 24 | 0.0% | — | ||
| Q1 24 | 0.0% | 149.5% |
| Q4 25 | 0.99× | — | ||
| Q3 25 | 1.51× | 0.37× | ||
| Q2 25 | 1.16× | — | ||
| Q1 25 | 1.58× | — | ||
| Q4 24 | 0.87× | — | ||
| Q3 24 | 1.55× | — | ||
| Q2 24 | 1.00× | — | ||
| Q1 24 | 1.57× | -3.13× |
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% |
IREN
| Bitcoin Mining Revenue | $167.4M | 91% |
| AI Cloud Services | $17.3M | 9% |
