Doximity, Inc. (DOCS) shares plummeted 12.19% during intraday trading on Wednesday, following the release of its fourth-quarter financial results.

The sharp decline came after the company reported adjusted earnings per share of $0.26 for the quarter, which missed the analyst consensus estimate of $0.28 by 7.14 percent. This result also represents a significant 31.58 percent decrease compared to earnings of $0.38 per share from the same period last year.

While the company reported quarterly sales of $145.400 million that slightly beat analyst expectations of $144.076 million, the market reacted negatively to the earnings miss and the substantial year-over-year decline in profitability.