Doximity Inc. (DOCS) shares are tumbling in after-hours trading Wednesday after the company reported mixed results for the fourth quarter and issued soft forward guidance.
Doximity Stock Takes a Hit After Mixed Earnings and Soft Guidance
MarketDash
Shares of the medical network platform dropped nearly 20% in after-hours trading after Q4 earnings missed estimates and forward guidance disappointed investors.
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Doximity Delivers Mixed Q4 Results
Doximity, which operates an online networking service for medical professionals, reported fourth-quarter revenue of $145.4 million, beating analyst estimates of $144.08 million. Revenue was up 5% on a year-over-year basis.
The company reported adjusted earnings of 26 cents per share for the quarter, missing estimates of 28 cents per share. Adjusted EBITDA came in at $65.8 million, down 6% year-over-year.
“We’re thrilled to announce that we reached a new engagement record of over 800,000 active prescribers using our workflow tools in Q4. Nearly half of those providers used our clinical AI last quarter, while our prompts per user nearly doubled from January to April alone,” said Jeff Tangney, co-founder and CEO of Doximity.
Despite the optimistic commentary, Doximity guided for first-quarter revenue of $151 million to $152 million, versus estimates of $153.7 million. The company also guided for fiscal 2027 revenue of $664 million to $676 million, versus estimates of $697.6 million.
Doximity guided for first-quarter adjusted EBITDA of $68.5 million to $69.5 million, and full-year adjusted EBITDA of $323 million to $335 million.
Doximity also announced an integration with value-based care provider Aledade to integrate components of its HIPAA-compliant Clinical AI Suite into Aledade Assist.
DOCS Shares Plunge
DOCS Price Action: Doximity shares were down 19.58% in after-hours, trading at $18.81 at the time of publication on Wednesday.
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