Doximity Inc. shares plunged to an all-time low in after-hours trading on Tuesday, after an earnings report predicted an unexpected revenue decline in the current quarter.
Executives forecast fiscal first-quarter revenue of $ 88.6 million to $ 89.6 million, while fourth-quarter reported sales of $ 93.7 million. According to Factset, analysts expect average first-quarter earnings of 96 96.8 million in the report.
Shares fell as much as 25% during the extended session, after being sold for less than $ 26 in Doximity’s initial public offering less than a year ago, after closing at $ 33.89. Its shares have never traded less than $ 27.06 in regular sessions and never closed less than $ 28.46 since its public offering, according to Factset records.
The software platform focuses on helping healthcare professionals collaborate and communicate otherwise it loses expectations with reporting. Doximity executives reported fourth-quarter earnings of $ 36.7 million, or 17 cents per share, as sales rose 40% year-on-year. After adjusting for stock compensation and other issues, Doximity reported earnings of 21 cents per share, which, according to Factset, lost the consensus estimate of 15 cents per share.
Although executives ‘first-quarter guidance missed analysts’ expectations, their annual revenue forecasts rose slightly – roughly $ 450 million to $ 454 million to $ 458 million – and topped the average estimate of $ 452.2 million. Profit direction also loses: Executives forecast $ 192 million to $ 196 million on consistent EBITDA this fiscal year, while analysts are modeling an average of $ 180.8 million, according to Factset.
Digital equipment for the healthcare sector has faced a tough crowd on Wall Street as they forecast sales of the COVID-19 epidemic for three years. Teladoc Health Inc. TDOC,
Shares fell more than 30% last month after executives issued annual guidance on related stocks such as American Well Corporation AMWL.
Down with it