Doximity, Inc. (DOCS) shares experienced a significant decline of 19.84% over a 24-hour period, with the sharpest drop occurring in after-hours trading following the release of the company's fiscal fourth-quarter financial results.

The telehealth company 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, profit was pressured by a substantial increase in operating expenses, which rose to $101.1 million from $75.1 million a year earlier.

Investor sentiment was further weighed down 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 approximately $153.8 million, and forecasts full-year revenue in the range of $664 million to $676 million, well below the consensus estimate of about $697.4 million.