Doximity, Inc. (DOCS) experienced a severe after-hours plunge of 32.02% following the release of its fiscal third-quarter financial results. The healthcare technology company's stock came under heavy selling pressure as investors digested a mixed earnings report that revealed concerning trends.

The company reported that its third-quarter net income decreased by 18% year-over-year to USD 61.6 million, despite total revenues growing 10% to USD 185.1 million. More significantly, Doximity provided fourth-quarter revenue guidance of USD 143 million to USD 144 million, which fell short of the consensus estimate of USD 150.5 million. The company also noted decreases in operating cash flow and free cash flow of 7% and 8% respectively compared to the same period last year.

Adding to the negative sentiment, Doximity disclosed in an SEC filing that Chief Financial Officer Anna Bryson is taking a temporary medical leave. The company appointed Siddharth Sitaram as interim financial officer during her absence, creating additional uncertainty around the company's financial leadership during a challenging period.