Doximity Stock Drops 20% After Outlook Disappoints

Shares of Doximity plummeted late Thursday after the telehealth software company dished out a disappointing outlook.

Doximity (DOCS) stock was recently down more than 20%. The company after Thursday’s closing bell said revenue for the quarter ending June 30 was seen coming in between $139 and $140 million, while full-year revenue was expected at $619 million to $631 million. The high end of both ranges was below the current mean estimate as tracked by Visible Alpha.

The company’s current-quarter and full-year guidance for adjusted EBITDA also disappointed investors.

Doximity’s shares had fallen nearly 2% on Thursday, leaving them up about 9% for the year so far. A fall like the one seen after hours tonight would return them to levels not seen since the fall.

Doximity said fiscal fourth-quarter sales for the quarter ended March 30 rose 17% to $138.3 million, with subscription revenue rising by a similar percentage. “We closed out fiscal 2025 on a high note, with record engagement, strong profits,” CEO Jeff Tangney said in a statement.