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Doximity, Inc.（DOCS）与Vericel Corp（VCEL）财务数据对比。点击上方公司名可切换其他公司
Doximity, Inc.的季度营收约是Vericel Corp的2.0倍（$185.1M vs $92.9M），Doximity, Inc.净利率更高（33.3% vs 25.0%，领先8.3%），Vericel Corp同比增速更快（23.3% vs 9.8%），过去两年Vericel Corp的营收复合增速更高（34.6% vs 25.2%）
Doximity Inc成立于2010年，是面向医疗专业人士的线上社交服务平台，为平台会员提供精选医疗资讯、远程医疗工具，以及病例协作相关功能，助力医疗从业者高效交流信息、开展诊疗相关工作。
Vericel Corp是一家美国上市生物制药企业，前身为1989年在密歇根州安娜堡成立的Aastrom Bio，2014年10月正式更为现名，专注于生物制药相关领域的研发与商业化运营。
DOCS vs VCEL — 直观对比
营收规模更大
DOCS
是对方的2.0倍
$92.9M
营收增速更快
VCEL
高出13.5%
9.8%
净利率更高
DOCS
高出8.3%
25.0%
两年增速更快
VCEL
近两年复合增速
25.2%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $185.1M | $92.9M |
| 净利润 | $61.6M | $23.2M |
| 毛利率 | 89.9% | 78.7% |
| 营业利润率 | 38.9% | 24.1% |
| 净利率 | 33.3% | 25.0% |
| 营收同比 | 9.8% | 23.3% |
| 净利润同比 | -18.1% | 17.3% |
| 每股收益（稀释后） | $0.31 | $0.46 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收DOCSVCEL
| Q4 25 | $185.1M | $92.9M | ||
| Q3 25 | $168.5M | $67.5M | ||
| Q2 25 | $145.9M | $63.2M | ||
| Q1 25 | $138.3M | $52.6M | ||
| Q4 24 | $168.6M | $75.4M | ||
| Q3 24 | $136.8M | $57.9M | ||
| Q2 24 | $126.7M | $52.7M | ||
| Q1 24 | $118.1M | $51.3M |
净利润DOCSVCEL
| Q4 25 | $61.6M | $23.2M | ||
| Q3 25 | $62.1M | $5.1M | ||
| Q2 25 | $53.3M | $-553.0K | ||
| Q1 25 | $62.5M | $-11.2M | ||
| Q4 24 | $75.2M | $19.8M | ||
| Q3 24 | $44.2M | $-901.0K | ||
| Q2 24 | $41.4M | $-4.7M | ||
| Q1 24 | $40.6M | $-3.9M |
毛利率DOCSVCEL
| Q4 25 | 89.9% | 78.7% | ||
| Q3 25 | 90.3% | 73.5% | ||
| Q2 25 | 89.2% | 73.7% | ||
| Q1 25 | 89.5% | 69.0% | ||
| Q4 24 | 91.6% | 77.6% | ||
| Q3 24 | 90.0% | 71.9% | ||
| Q2 24 | 89.3% | 69.5% | ||
| Q1 24 | 89.4% | 68.9% |
营业利润率DOCSVCEL
| Q4 25 | 38.9% | 24.1% | ||
| Q3 25 | 37.8% | 5.1% | ||
| Q2 25 | 37.4% | -3.2% | ||
| Q1 25 | 35.2% | -24.3% | ||
| Q4 24 | 47.4% | 24.5% | ||
| Q3 24 | 38.8% | -4.3% | ||
| Q2 24 | 36.4% | -11.5% | ||
| Q1 24 | 35.5% | -10.7% |
净利率DOCSVCEL
| Q4 25 | 33.3% | 25.0% | ||
| Q3 25 | 36.8% | 7.5% | ||
| Q2 25 | 36.5% | -0.9% | ||
| Q1 25 | 45.2% | -21.4% | ||
| Q4 24 | 44.6% | 26.3% | ||
| Q3 24 | 32.3% | -1.6% | ||
| Q2 24 | 32.7% | -8.9% | ||
| Q1 24 | 34.4% | -7.5% |
每股收益（稀释后）DOCSVCEL
| Q4 25 | $0.31 | $0.46 | ||
| Q3 25 | $0.31 | $0.10 | ||
| Q2 25 | $0.27 | $-0.01 | ||
| Q1 25 | $0.31 | $-0.23 | ||
| Q4 24 | $0.37 | $0.40 | ||
| Q3 24 | $0.22 | $-0.02 | ||
| Q2 24 | $0.21 | $-0.10 | ||
| Q1 24 | $0.20 | $-0.08 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $64.8M | $137.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $979.3M | $354.6M |
| 总资产 | $1.2B | $488.0M |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资DOCSVCEL
| Q4 25 | $64.8M | $137.5M | ||
| Q3 25 | $169.2M | $135.4M | ||
| Q2 25 | $137.3M | $116.9M | ||
| Q1 25 | $209.6M | $112.9M | ||
| Q4 24 | $165.3M | $116.2M | ||
| Q3 24 | $184.2M | $101.7M | ||
| Q2 24 | $111.4M | $102.5M | ||
| Q1 24 | $96.8M | $110.6M |
股东权益DOCSVCEL
| Q4 25 | $979.3M | $354.6M | ||
| Q3 25 | $1.1B | $321.9M | ||
| Q2 25 | $1.0B | $306.8M | ||
| Q1 25 | $1.1B | $295.5M | ||
| Q4 24 | $1.0B | $292.0M | ||
| Q3 24 | $961.2M | $257.5M | ||
| Q2 24 | $913.6M | $243.0M | ||
| Q1 24 | $901.4M | $233.9M |
总资产DOCSVCEL
| Q4 25 | $1.2B | $488.0M | ||
| Q3 25 | $1.3B | $453.3M | ||
| Q2 25 | $1.2B | $435.6M | ||
| Q1 25 | $1.3B | $424.6M | ||
| Q4 24 | $1.2B | $432.7M | ||
| Q3 24 | $1.1B | $390.4M | ||
| Q2 24 | $1.1B | $376.8M | ||
| Q1 24 | $1.1B | $356.7M |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $60.9M | $15.0M |
| 自由现金流经营现金流 - 资本支出 | — | $12.8M |
| 自由现金流率自由现金流/营收 | — | 13.8% |
| 资本支出强度资本支出/营收 | — | 2.4% |
| 现金转化率经营现金流/净利润 | 0.99× | 0.65× |
| 过去12个月自由现金流最近4个季度 | — | $24.7M |
8季度趋势，按日历期对齐
经营现金流DOCSVCEL
| Q4 25 | $60.9M | $15.0M | ||
| Q3 25 | $93.9M | $22.1M | ||
| Q2 25 | $62.1M | $8.2M | ||
| Q1 25 | $98.5M | $6.6M | ||
| Q4 24 | $65.2M | $22.2M | ||
| Q3 24 | $68.3M | $10.2M | ||
| Q2 24 | $41.2M | $18.5M | ||
| Q1 24 | $63.9M | $7.2M |
自由现金流DOCSVCEL
| Q4 25 | — | $12.8M | ||
| Q3 25 | — | $19.5M | ||
| Q2 25 | — | $81.0K | ||
| Q1 25 | — | $-7.6M | ||
| Q4 24 | — | $8.5M | ||
| Q3 24 | — | $-9.2M | ||
| Q2 24 | — | $1.8M | ||
| Q1 24 | — | $-6.8M |
自由现金流率DOCSVCEL
| Q4 25 | — | 13.8% | ||
| Q3 25 | — | 28.8% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | -14.5% | ||
| Q4 24 | — | 11.2% | ||
| Q3 24 | — | -15.9% | ||
| Q2 24 | — | 3.4% | ||
| Q1 24 | — | -13.3% |
资本支出强度DOCSVCEL
| Q4 25 | — | 2.4% | ||
| Q3 25 | — | 3.9% | ||
| Q2 25 | — | 12.9% | ||
| Q1 25 | 0.0% | 27.0% | ||
| Q4 24 | 0.0% | 18.3% | ||
| Q3 24 | 0.0% | 33.5% | ||
| Q2 24 | 0.0% | 31.8% | ||
| Q1 24 | 0.0% | 27.3% |
现金转化率DOCSVCEL
| Q4 25 | 0.99× | 0.65× | ||
| Q3 25 | 1.51× | 4.35× | ||
| Q2 25 | 1.16× | — | ||
| Q1 25 | 1.58× | — | ||
| Q4 24 | 0.87× | 1.12× | ||
| Q3 24 | 1.55× | — | ||
| Q2 24 | 1.00× | — | ||
| Q1 24 | 1.57× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
DOCS
| Subscription | $175.4M | 95% |
| Service Other | $9.7M | 5% |
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
