The Platform no one talks about

Stock: $DOCS ( ▲ 0.82% )

Has been on ApeCraft radar since its IPO. Apetimus Prime has made decent dough on it, DCA’ing from 60$ all the way down to 24$ previously, and selling as it rebounded back to 78+$. Here’s a thesis on why we remain bullish on it.

Of course, do your own research. Taking advice from random apes on internet isn’t a good idea.

Doximity is a debt-free, high-margin, high-barrier-to-entry, cash-printing, extremely sticky business as it has entrenched itself in the daily workflows of ~9 out of 10 US doctors and other medical professionals. Being a pureplay digital business with USA as its only market, it has no exposure to forex or tariff risks. It has simply gone down along with the market.

The Model

Imagine LinkedIn, but for Doctors, and instead of cringey motivational posts, it’s actually saving lives. This platform’s got over 80% of US Physicians (and nurse practitioners, PA’s and pharmacists) hooked, making it the beating heart of networking and workflows in US healthcare industry. It’s not a fancy Rolodex - it’s a one-stop-shop for:

Marketing Solutions: Pharma giants shell out 10’s of Millions to advertise to Docs on Doximity’s hyper-targeted platform. Think Google Ads, but for prescription drugs.

Hiring Solutions: Hospitals and clinics use it to poach top talent faster then you can say “signing bonus”.

Productivity Tools: Telehealth, secure messaging, and workflow Apps that Docs love using.

Why is it future-proof?

Because healthcare is going digital fast, and Doximity is riding the wave. Telehealth is here to stay post-COVID and Pharma industry is ditching door-to-door sales reps for Doximity’s platform.

Network Moat: if 9 out of 10 of your friends/colleagues are on the network, it’s a social/career obligation to stay. Think about it: you may have quit IG/FB/X/Tiktok over the years, but did you abort LinkedIn? Probably not. This same network effect is also Doximity’s biggest moat. Very hard to replicate such a network.

Data Goldmine: Years of phyisican interactions mean Doximity’s got insights sharper than a surgeon’s scalpel; perfect for targeting Ads and building better tools. Also think how the App can leverage AI and ML on this Data to keep adding features and value-added services it can charge for.

Stickiness: Docs don’t just use Doximity as a social network; they live on it for networking, job hunts, simplifying daily workflows and telehealth. It is now as essential as their morning brew.

Founder Led: The business is still run by its co-founder Jeff Tangney, a serial entrepreneur who’s been slaying it since the dot-com days. He isn’t some Suit parachuted in. He is a healthcare Tech OG with skin in the game, steering Doximity with the kind of vision that only a founder can bring.

OK. Show me the money, Apetimus!

All right. Look at that chart below. It is a 90% GM business with an Operating Margin of 40+%. It is a debt-free business whose real problem is figuring out what to do with all that cash it’s generating! What a nice problem, friend.

Risks

The more educated (not necessarily smarter) ones among you would inevitably ask. So, might as well capture:

• Team Washington DC continuing the clown show for much longer, thereby keeping stock prices depressed

• Big Pharma impacted by Regulatory changes, reducing their marketing budgets

In summary, Doximity is a rare breed: a higly profitable, high-growth, debt-free, founder-led Tech stock that is well positioned to actually leverage AI (instead of spending Capex on it!) with a moat that’d make medieval kings jealous. We are playing for a 45-50% upside from current levels. By our calculations, this ticker becomes par/overvalued beyond 80$ (at current EPS). Sustained EPS growth + share count reduction via buybacks could command even higher valuations.

So, the next time you are considering a stock that:

• isn’t affected by Tariff’s

• isn’t bothered by interest-bearing debt

• will benefit from boom in AI technology

• could be a good acquisition target for one of the Big Tech giants

You may want to add $DOCS ( ▲ 0.82% ) to your portfolio.

Or, you may just ignore us. How do we care? It’s your money. Do what you want with it.

The choice is Yours, friend. The choice is always Yours.

Anonymously Yours,

Apetimus Prime