Doximity vs Phreesia
Doximity is the larger business, with $645m of revenue in fiscal 2026 against $481m for Phreesia (1.3 times as much). Phreesia grew faster (14.5% against 13.1%). Doximity kept more of each dollar of sales as profit: a net margin of 30.4% against 0.5%.
| Latest fiscal year | DoximityDOCS, 2026 | PhreesiaPHR, 2026 |
|---|---|---|
| Revenue | $645m | $481m |
| Revenue growth | 13.1% | 14.5% |
| Net income | $196m | $2.3m |
| Operating margin | 33.3% | — |
| Net margin | 30.4% | 0.5% |
| Return on equity | 19.3% | 0.8% |
| Free cash flow | $326m | $67.7m |
| Cash | $219m | $73.8m |
| Total debt | $0 | $2.7m |
| Debt to equity | 0.0% | — |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $432m | — |
| Employees | 880 | 1,789 |
| Market value | $5.91bn | $786m |
| Price vs our value range | Within our value range | — |
| Moat score | 75 (Strong) | 11 (Weak) |
| Insider trades, 12 months | 0 buys, 21 sales | 8 buys, 37 sales |