Doximity Stock Is Falling After Hours: What's Going On?

Doximity Inc DOCS shares are trading lower in Tuesday's after-hours session on the heels of the company's fourth-quarter report. Soft guidance appears to be driving shares lower. 

What Happened: Doximity said fourth-quarter revenue increased 18% year-over-year to $110.97 million, which narrowly beat consensus estimates of $110.09 million, per Benzinga Pro. The company reported adjusted earnings of 20 cents per share, which beat estimates of 17 cents per share. 

Doximity generated operating cash flow of $46.6 million, down 1% year-over-year. Free cash flow was up 2% year-over-year to $45.6 million. 

"With the public health emergency officially over, we're proud to emerge with a record number of providers using our physician cloud in Q4 to power their scheduling, fax, e-signature, and telehealth needs," said Jeff Tangney, co-founder and CEO of Doximity.

Doximity said it expects first-quarter revenue to be between $106.5 million and $107.5 million versus estimates of $112.09 million. Full-year revenue is expected to be between $500 million and $506 million versus estimates of $507.05 million.

Doximity will host a conference call at 5 p.m. ET to discuss these results.

Doximity also announced an integration with MEDITECH, which will allow medical professionals to launch a Doximity Dialer voice or video telehealth visit directly from MEDITECH's app, Expanse Now.

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DOCS Price Action: Doximity shares were down 6.97% after hours at $31.50 at time of publication, according to Benzinga Pro.

Photo: courtesy of Doximity.