Doximity, Inc. (DOCS) shares plummeted 17.91% in after-hours trading on Wednesday, following the release of the company's fourth-quarter financial results.

The sharp decline came after Doximity reported adjusted earnings per share of $0.26 for the quarter, missing the analyst consensus estimate of $0.28. While revenue of $145.4 million slightly exceeded expectations, the company's profit fell due to significantly higher operating expenses, which rose to $101.1 million from $75.1 million a year earlier.

Investor sentiment was further dampened by Doximity's revenue guidance for the upcoming first quarter and full fiscal year 2027, which fell short of market expectations. The company expects Q1 revenue between $151 million and $152 million, below estimates of $153.8 million, and full-year revenue in the range of $664 million to $676 million, well below the consensus estimate of approximately $697.4 million.