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Doximity (DOCS) shares plummeted 23.3% to a record low following a disappointing full-year revenue outlook. Management projects annual revenue between $664 million and $676 million, missing Wall Street’s $687 million estimate. While top pharma clients are shifting up to 20% of their budgets toward AI, rising compute costs are compressing margins for the medical networking platform. Despite the sell-off, Doximity is betting on long-term AI adoption to drive the next phase of healthcare digital transformation.
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