TIVP057: Doximity (DOCS): A Profitable Social Media Platform For Doctors w/ Shawn O’Malley & Daniel Mahncke
The Intrinsic Value Podcast - The Investor’s Podcast Network
Optionality from AI and Future Growth
Shawn highlights DocsGPT as optional upside layered on an already profitable ad business.
Shawn O’Malley and Daniel Mahncke break down Doximity (ticker: DOCS), known as “the LinkedIn for doctors,” with a suite of productivity apps supporting physicians’ workflows, too. Incredibly, 80% of physicians in the U.S. are on Doximity, giving them fertile real estate to monetize those eyeballs with high-margin advertising opportunities for pharma companies.
IN THIS EPISODE, YOU’LL LEARN: 00:00:00 - Intro
00:00:22 - Why Doximity is so uniquely positioned to capitalize on pharmaceutical marketing
00:01:42 - How much of the U.S. health care system is still plagued by bureaucratic admin work, and the opportunity that creates for Doximity
00:03:40 - What makes Doximity’s ecosystem so useful for physicians at all stages of their career
00:10:32 - Why Doximity uses subscription-based advertising options
00:25:26 - How the company protects doctors’ privacy and saves them hours a week doing admin tasks with HIPAA-compliant generative AI tools
00:26:01 - How Doximity uses productivity tools to complement its social networking service
00:44:22 - The risks and moats of having a business so concentrated on one industry
00:56:17 - How to think about modeling DOCS’ intrinsic value
01:02:36 - Whether Shawn and Daniel add DOCS to their Intrinsic Value Portfolio
*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.
BOOKS AND RESOURCES
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- Shawn & Daniel use Fiscal.ai for every company they research — use their referral link to get started with a 15% discount!
- Learn how to join us in Omaha for the 2026 Berkshire Hathaway shareholder meeting.
- Check out Doximity Pitch on Value Investors Club.
- Doximity’s 2023 Shareholder Presentation.
- Doximity’s Investor Relations Page.
- Business Breakdowns’ podcast on Doximity.
- Listen to Doximity’s Investor Day.
- Explore our previous Intrinsic Value breakdowns: Transdigm, Salesforce, Berkshire Hathaway, FICO, PayPal, Uber, Nike, Amazon, Airbnb, Alphabet.
- Related books mentioned in the podcast.
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