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May 14, 2026 12:20 PM

Doximity Flags Pharma Ad Market Weakness

Doximity Inc. (NYSE:DOCS) shares are down on Thursday after the company reported mixed results for the fourth quarter and issued soft annual guidance.

Doximity, an operator of an online networking service for medical professionals, reported fourth-quarter revenue of $145.4 million, up 5% year over year, beating analyst estimates of $144.08 million.

The company on Wednesday reported adjusted earnings of 26 cents per share for the quarter, missing estimates of 28 cents per share. Adjusted EBITDA came in at $65.8 million, down 6% year-over-year.

Doximity expects first-quarter 2027 revenue between $151 million and $152 million, versus estimates of $153.7 million. The company also guided for fiscal 2027 revenue of $664 million to $676 million, versus estimates of $697.6 million.

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Doximity guided for first-quarter adjusted EBITDA of $68.5 million to $69.5 million, and full-year adjusted EBITDA of