Shares of Doximity, Inc. (DOCS) plummeted 20.51% in after-hours trading on Thursday, following the release of its fiscal fourth-quarter earnings report. While the company surpassed expectations for the quarter ended March 31, investors were spooked by lower-than-anticipated revenue guidance for the upcoming quarter and fiscal year.

Doximity reported Q4 non-GAAP earnings of $0.38 per diluted share, significantly beating the FactSet analyst consensus of $0.27. Revenue for the quarter rose to $138.3 million, also surpassing analyst expectations of $133.7 million. However, the company's forward-looking statements fell short of market predictions, triggering the sharp sell-off.

For the first quarter of fiscal 2026, Doximity expects revenue between $139 million and $140 million, below the FactSet analyst consensus of $143 million. The company's full-year fiscal 2026 revenue guidance of $619 million to $631 million also disappointed, falling short of the $635 million consensus. This conservative outlook, despite the recent earnings beat, has raised concerns among investors about the company's growth trajectory in the coming year.