Shares of Doximity, Inc. (DOCS) are set to plummet 20.80% in pre-market trading on Friday, following the release of the company's fiscal fourth-quarter earnings report. While Doximity surpassed expectations for the quarter ended March 31, investors were spooked by lower-than-anticipated revenue guidance for the upcoming quarter and fiscal year 2026.

Doximity, a networking platform for healthcare professionals, reported strong Q4 results with adjusted earnings of $0.38 per share, significantly beating the analyst consensus of $0.27. Revenue also exceeded expectations, coming in at $138.3 million compared to the estimated $133.7 million. However, the company's outlook fell short of Wall Street projections, overshadowing the positive quarterly performance.

For the first quarter of fiscal 2026, Doximity expects revenue between $139 million and $140 million, below the analyst consensus of $143.3 million. The full-year revenue guidance of $619 million to $631 million also missed the mark, with analysts anticipating $634.6 million. This outlook suggests a notable slowdown in growth, with the midpoint of the guidance representing only about 9.6% year-over-year increase, compared to the 20% growth seen in fiscal 2025. The conservative forecast has raised concerns among investors about Doximity's future growth trajectory, particularly as the healthcare tech sector faces potential headwinds.