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Doximity (DOCS) stock fell nearly 12% after the company posted a weaker-than-expected first-quarter revenue forecast.
Source: Doximity
DOCS down 12.08%, RUT down -1.55%
The company reported fourth-quarter earnings per share of 21 cents, surpassing the consensus estimate of 14 cents per share.
Doximity’s revenue in Q4 came in at $93.7 million, surpassing an estimate of $90.1 million. Adjusted EBITDA came in at $39.4 million in the period, topping an estimate of $34.9 million.
In the upcoming first quarter, Doximity anticipates revenue to range from $88.6M to $89.6M, below the estimated $96.7M. For the full year 2023, the company projects revenue in the range of $454M to $458M, surpassing analyst estimate of $45.16 million.
The online networking service Doximity also approved a new share repurchase program of $70 million.
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