DCGO

This article first appeared on GuruFocus. Total Revenue: $73.4 million in Q2 2026, down from $80.4 million in Q2 2025, due entirely to the wind-down of migrant-related projects. Revenue Growth (ex-migrant): Increased 19% year-over-year in Q2, excluding migrant-related revenues. Medical Transportation Revenue: $52 million in Q2 2026, up from $49.6 million in Q2 2025, a record quarterly high. Mobile Health Revenue: $21.4 million in Q2 2026, down from $30.8 million in Q2 2025, driven by migrant revenue wind-down; non-migrant mobile health revenues surged 78%. Adjusted EBITDA: Negative $6.3 million in Q2 2026, compared to negative $6.1 million in Q2 2025; improved nearly 40% sequentially from negative $10.3 million in Q1 2026. Adjusted Gross Margin: 30.5% in Q2 2026, compared to 31.6% in Q2 2025. Medical Transportation Gross Margin: 32% in Q2 2026, up from 31.1% in Q2 2025. Mobile Health Gross Margin: 27% in Q2 2026, down from 32.5% in Q2 2025. Cash and Cash Equivalents: $48.1 million at June 30, 2026, down from $59.9 million at March 31, 2026. Available Cash: $25.2 million at June 30, 2026, down from $35.7 million at March 31. 2026 Revenue Guidance: Narrowed to $305 million to $310 million, excluding any Hicuity revenue. 2026 Adjusted EBITDA Guidance: Loss of $17 million to $22 million, wider than prior guidance of $5 million to $10 million loss. Warning! GuruFocus has detected 5 Warning Signs with DCGO. Is DCGO fairly valued? Test your thesis with our free DCF calculator. Release Date: August 17, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. DocGo Inc (NASDAQ:DCGO) signed a definitive agreement to acquire Hicuity Health, a leading acute and critical care telemedicine provider, expanding its virtual care capabilities and cross-selling opportunities. The company achieved record volumes across all key business verticals in Q2, with U.S. medical transportation up 15%, health care in the home up 26%, and virtual care and lab orders up 58% year-over-year. DocGo Inc (NASDAQ:DCGO) secured a new $50 million financing commitment from Perceptive Advisors, which will strengthen its balance sheet and support growth plans. The company's AI efficiency initiatives are gaining traction, with an AI communications tool handling 60% of inbound patient calls and AI data entry integrations accounting for 65% of orders, potentially saving $6 million annually. DocGo Inc (NASDAQ:DCGO) signed a new contract with one of the largest national health plans to offer services in Pennsylvania, and grew its care gap closure patient base to 1.7 million. Adjusted EBITDA loss improved sequentially by nearly 40%, from $10.3 million in Q1 to $6.3 million in Q2, reflecting cost-cutting efforts and operational improvements. DocGo Inc (NASDAQ:DCGO) widened its full-year 2026 adjusted EBITDA loss guidance to $17 million-$22 million, up from the previous $5 million-$10 million, due to slower-than-expected cost cuts and lower gross margins. Total revenue declined year-over-year to $73.4 million from $80.4 million, driven by the wind-down of migrant-related projects, which also impacted Mobile Health segment revenue. Adjusted gross margin decreased to 30.5% in Q2 from 31.6% in the prior year, with Mobile Health segment margins falling to 27% from 32.5% due to lower SteadyMD margins and higher fuel costs. The company's cash position declined to $48.1 million from $59.9 million at the end of Q1, with available cash down to $25.2 million, and collections of migrant-related receivables remain unpredictable. Medical Transportation gross margins are still restrained by higher-than-planned effective hourly wages and increased fuel costs, which strained margins by about 60 basis points year-over-year. The company faces potential regulatory and customer approval hurdles for the Hicuity acquisition, which could delay closing and impact the timing of expected synergies. Q: Can you discuss the customer overlap between DocGo and Hicuity Health, the cross-sell opportunities, and the growth rate of Hicuity's business? Also, what are the gating factors to closing the acquisition?A: Lee Bienstock (CEO) noted significant overlap with hospital and health system partners, creating cross-selling opportunities for virtual care, transitional care management, and in-home services like mobile phlebotomy. Norman Rosenberg (CFO) added that Hicuity's revenue is growing at a low double-digit rate (10%-12%). Regarding closing hurdles, Rosenberg stated there are no particularly troubling issues, only standard state regulatory approvals and a few customer consents that are already in progress. Q: What is the potential risk to your remote patient monitoring (RPM) business from the proposed CMS rule that may limit Medicare reimbursement for RPM in 2027? Does Hicuity have exposure?A: Lee Bienstock (CEO) clarified that the proposed changes target RPM specifically, but DocGo's model is centered on chronic care management (CCM) and transitional care management (TCM), which are not under discussion. He distinguished that DocGo manages patients, not just monitors data. Of the ~55,000 patients monitored, the vast majority are cardiac implantable device patients (pacemakers, loop recorders), which are unaffected. Only ~2,000 patients are in the RPM program that could be at risk. He believes the industry will increasingly reward managing chronic conditions over mere data collection. Q: Can you provide more detail on the $65 million trailing 12-month revenue for Hicuity? Is the business growing?A: Norman Rosenberg (CFO) confirmed that Hicuity's revenue is growing at approximately 10% to 12% on average. While some service lines are shrinking as they pivot away, the overall business is growing at that rate, and projections for 2027 align with this low double-digit growth trajectory. Q: Have you had conversations with customers from either DocGo or Hicuity about cross-selling services once the transaction closes?A: Lee Bienstock (CEO) stated that due to confidentiality, conversations have been limited, but they have engaged with customers requiring consent for the transaction. He highlighted a recent meeting with a large hospital system president where the need for virtual staffing support was discussed. He emphasized that DocGo's strong, long-standing relationships and reputation for execution and innovation will facilitate deeper partnerships and the introduction of new solutions, including combining virtual care with in-home services like mobile phlebotomy and wound care. Q: What exactly do you mean by streamlining clinical functions to achieve cost savings after the Hicuity deal closes?A: Lee Bienstock (CEO) explained that both companies operate multistate clinical practice groups. Following the SteadyMD acquisition, DocGo integrated its practice groups into a single 50-state licensed group. Similarly, Hicuity operates in 30 states, and there is an opportunity to merge their 400-plus clinicians with DocGo's 500-600 clinicians into one integrated team. This consolidation, along with leveraging shared vendors and IT systems, will create operational efficiencies and reduce costs for both organizations. Q: What was the organic revenue growth rate for the quarter?A: Norman Rosenberg (CFO) defined organic growth as business lines that existed in both Q2 2025 and Q2 2026, which means removing migrant-related revenue from last year and SteadyMD revenue from this year. On that basis, organic revenue grew approximately 5% year-over-year. Q: How will you achieve adjusted EBITDA breakeven by the end of 2026, given the significant loss in Q2?A: Norman Rosenberg (CFO) outlined a three-pronged approach: (1) incremental revenue growth, particularly from seasonal increases in SteadyMD and care gap closure services; (2) improved gross margins, noting that the current trajectory is moving higher but was restrained by ~1.5 points due to fuel costs and temporarily lower SteadyMD margins, which are expected to normalize; and (3) continued sequential declines in SG&A as severance costs roll off and vendor repricing takes effect. These factors combined are expected to bring the company to a breakeven run rate. Q: Can you size the revenue for the high-growth areas like mobile phlebotomy, health care in the home, cardiac and remote patient monitoring, and virtual care?A: Norman Rosenberg (CFO) provided quarterly figures: cardiac and remote patient monitoring (CRMS) generated ~$4.5 million (an ~$18 million annualized run rate, up ~20% year-over-year); SteadyMD (virtual care) generated $8.9 million, down from $9.5 million in Q1 due to seasonality but expected to rebound in H2; mobile phlebotomy (PTI) generated ~$1.4-$1.5 million (a ~$6 million run rate, up from ~$4 million at acquisition); and care gap closure services ran between $1 million and $2 million in the quarter. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

DocGo (NASDAQ:DCGO) shares fell sharply in pre-market trading on Tuesday after the mobile healthcare and medical transportation provider reported weaker-than-expected second-quarter 2026 results and significantly increased its projected full-year adjusted EBITDA loss. The stock dropped 12.7% to $0.62 before the opening bell after DocGo posted an adjusted loss of $0.16 per share, compared with the consensus estimate for a $0.10 loss. Quarterly revenue reached $73.4 million, below analysts’ forecast of $75.4 million and down 8.7% from the same period last year. The year-on-year decline in reported revenue reflected the conclusion of migrant-related contracts. Those programmes generated no revenue during the latest quarter, compared with $18.8 million in the second quarter of 2025. Underlying performance was stronger once those contracts were excluded, with DocGo reporting core revenue growth of 19%. However, that improvement was overshadowed by the earnings shortfall and a substantially weaker profitability outlook. The biggest concern for investors came from DocGo’s revised full-year guidance. The company now expects an adjusted EBITDA loss of between $17 million and $22 million for 2026, considerably wider than its previous forecast for a loss of between $5 million and $10 million. The revision indicates that DocGo’s route towards profitability could take longer than previously anticipated and contributed to the sharp pre-market reaction. Alongside its quarterly results, DocGo announced a definitive agreement to acquire Hicuity Health, a telemedicine provider generating approximately $65 million in trailing 12-month revenue. The transaction potentially expands DocGo’s healthcare offering, but it also introduces additional execution and integration requirements at a time when investors are already focused on the company’s losses and balance-sheet position. DocGo separately disclosed that it had requested a brief extension from the U.S. Securities and Exchange Commission to file its quarterly Form 10-Q. The sell-off occurred against a broadly negative market environment, with the Nasdaq down 1.1% and the S&P 500 falling 0.4% during Tuesday’s session. That weakness added pressure to DocGo, a micro-cap stock with relatively high market sensitivity that has already lost more than half of its value over the past 12 months. At $0.62, the shares remain substantially below their 52-week high of $1.73 and closer to the 52-week low of $0.451. The company has also been operating under a Nasdaq listing compliance extension, adding another source of uncertainty around the stock. The combination of weaker-than-expected quarterly results, a substantial increase in projected adjusted EBITDA losses and uncertainty surrounding the Hicuity Health acquisition prompted investors to reassess DocGo’s near-term prospects. Although the 19% increase in core revenue excluding migrant-related programmes provides evidence of growth in the underlying business, the widened loss forecast suggests that translating that expansion into profitability remains a significant challenge. The market responded quickly, sending DocGo shares down to $0.62 in pre-market trading and leaving the stock much closer to its annual low than to recent recovery levels. DocGo stock price

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management characterized Q2 as a transformational period defined by the definitive agreement to acquire Hicuity Health, marking the company's largest acquisition to date. The acquisition is designed to bridge the gap between hospital and home care, creating a vertically integrated platform that matches clinicians with patients across the entire care continuum. Performance attribution for the quarter was heavily influenced by the wind-down of migrant-related projects, which masked a 19% year-over-year revenue increase in core business lines. Operational improvements were driven by a substantial corporate reduction in force, yielding approximately $4.5 million in annual SG&A savings. Management highlighted the deployment of over 10 active AI efficiency programs, notably in mobile phlebotomy where AI now handles 60% of inbound and 100% of outbound scheduling calls. Strategic positioning focused on high-margin verticals, with non-migrant mobile health revenues surging 78% due to growth in care gap closures and remote patient monitoring. The Hicuity acquisition includes a new funding commitment from Perceptive Advisors, which management believes will reshape the balance sheet and provide flexibility for future growth. Management expects to achieve a positive adjusted EBITDA run rate by the end of 2026, despite widening the full-year EBITDA loss guidance due to slower-than-expected cost-cutting realization. Revenue guidance for 2026 was narrowed to $305 million-$310 million, representing 21%-23% growth over 2025 base revenues, excluding any potential Hicuity contributions. The company anticipates significant cost synergies from the Hicuity deal, including combining shared corporate functions and streamlining clinical operations across 30 states. Growth in the second half of 2026 is expected to be driven by a large enterprise deal with a leading online pharmacy and seasonal volume increases in the SteadyMD virtual care business. Management plans to launch an additional 20 efficiency-related programs in late 2026 and early 2027 to further optimize eligibility determination and patient care reporting. Medical transportation gross margins were restrained by higher-than-planned effective hourly wages and a significant rise in fuel costs to $4.27 per gallon. The company reported a $6.3 million adjusted EBITDA loss for Q2, though this represented a 40% sequential improvement from the prior quarter. Management addressed potential CMS regulatory changes to Remote Patient Monitoring (RPM), noting that only 2,000 of their 55,000 monitored patients are in the at-risk category. Cash and equivalents declined to $48.1 million at quarter-end, though the new Perceptive Advisors debt facility is expected to replace the existing asset-backed line of credit. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management identified significant overlap with existing hospital system partners, providing opportunities to cross-sell in-person home services like mobile phlebotomy to virtual care patients. The acquisition strengthens the link between hospital discharge and home care, where DocGo has previously demonstrated a 50%-60% reduction in hospital readmissions. Management clarified that the vast majority of their 55,000 monitored patients are cardiac patients with implantable devices, which are not subject to the proposed CMS rate cuts. The company is shifting focus toward Chronic Care Management (CCM) and Transitional Care Management (TCM), which reward managing conditions rather than just data collection. The path to breakeven relies on a combination of seasonal revenue growth in SteadyMD, improved gross margins as field labor overtime declines, and the full impact of recent SG&A reductions. Management expects gross margins to normalize as aggressive hiring for SteadyMD concludes and higher-margin service lines like mobile phlebotomy scale.

DocGo Inc. (DCGO) came out with quarterly earnings of $0.16 per share, beating the Zacks Consensus Estimate of a loss of $0.04 per share. This compares to a loss of $0.11 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +500.00%. A quarter ago, it was expected that this company would post a loss of $0.02 per share when it actually produced a loss of $0.12, delivering a surprise of -500%. Over the last four quarters, the company has surpassed consensus EPS estimates just once. Motion Acquisition, which belongs to the Zacks Medical Services industry, posted revenues of $73.43 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 2.28%. This compares to year-ago revenues of $80.42 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Motion Acquisition shares have lost about 24% since the beginning of the year versus the S&P 500's gain of 13.7%. While Motion Acquisition has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Motion Acquisition was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is breakeven on $76.37 million in revenues for the coming quarter and -$0.12 on $307.88 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical Services is currently in the top 36% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. InnovAge Holding Corp. (INNV), another stock in the same industry, has yet to report results for the quarter ended June 2026. This company is expected to post quarterly earnings of $0.07 per share in its upcoming report, which represents a year-over-year change of +800%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. InnovAge Holding Corp.'s revenues are expected to be $234.17 million, up 5.8% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report DocGo Inc. (DCGO) : Free Stock Analysis Report InnovAge Holding Corp. (INNV) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Company Signs Definitive Agreement to Acquire Virtual Care Provider Hicuity Health, Perceptive Advisors Commits to New Term Loan Funding Management to Host Conference Call and Webcast Today at 5:00 PM Eastern Time NEW YORK, August 17, 2026--(BUSINESS WIRE)--DocGo Inc. (Nasdaq: DCGO) ("DocGo" or the "Company"), a leading provider of technology-enabled mobile health and medical transportation services, today announced financial and operating results for the second quarter ended June 30, 2026. Second Quarter 2026 Financial Highlights Total revenue for the second quarter of 2026 was $73.4 million, compared to $80.4 million in the second quarter of 2025. This decline was entirely due to the wind-down of migrant-related programs, which generated zero revenue in the second quarter of 2026 and $18.8 million in the second quarter of 2025. Excluding revenue from migrant-related programs, total revenue increased 19% year over year. GAAP gross margin (which includes depreciation and amortization expenses) for the second quarter of 2026 was 26.9%, compared to 26.7% in the second quarter of 2025. Adjusted gross margin1 for the second quarter of 2026 was 30.5%, compared to 31.6% in the second quarter of 2025. Net income for the second quarter of 2026 was ($18.0) million, compared to net income of ($13.3) million in the second quarter of 2025. Adjusted EBITDA1 was ($6.3) million for the second quarter of 2026, compared to adjusted EBITDA of ($6.1) million for the second quarter of 2025. Medical Transportation Services revenue in the second quarter of 2026 was $52.0 million, compared to $49.6 million for the second quarter of 2025. Mobile Health Services revenue for the second quarter of 2026 was $21.4 million, compared to $30.8 million for the second quarter of 2025. This decline was entirely due to the wind-down of migrant-related programs. Excluding revenue from migrant-related programs, Mobile Health Services revenue increased 78% to $21.4 million in the second quarter of 2026 from $12.0 million in the second quarter of 2025, driven by organic growth and the inclusion of revenue from SteadyMD. As of June 30, 2026, the Company held total cash and cash equivalents, including restricted cash and investments, of approximately $48.1 million, compared to $59.9 million as of March 31, 2026. Unrestricted cash and cash equivalents was $25.2 million as of June 30, 2026, compared to unrestricted cash of $35.7 million as of March 31, 2026. Select Corporate Highlights for the Second Quarter of 2026 and Recent Weeks Company achieved record volumes across all major business lines, with US medical transportation increasing 15%, healthcare in the home increasing 26%, mobile phlebotomy increasing 20%, cardiac and remote patient monitoring increasing 13%, and virtual care & lab orders increasing 58% when comparing the second quarter of 2026 to the second quarter of 2025. Company surpassed 1.7 million patients assigned by the Company’s payer and provider partners to engage for care gap closure services since inception, up 100,000 patients from last quarter. Signed a new contract with one of the largest national health plans to offer care gap closure services to their members in Pennsylvania. Launched mobile phlebotomy services in Southern Florida, expanding relationship with a major national clinical laboratory and positioning the company for mobile phlebotomy growth in the Southeast. Hicuity Health Acquisition & Perceptive Financing Company has entered into a definitive agreement to acquire 100% of virtual care provider, Hicuity Health. Hicuity delivers high acuity virtual clinical care – including Tele-ICU, Virtual Nursing, and Telemetry Monitoring services – for health systems, hospitals and post-acute facilities. On a trailing 12-month basis, Hicuity generated approximately $65 million in revenue and $4.5 million of adjusted EBITDA. DocGo is acquiring Hicuity in exchange for the assumption of the company’s existing indebtedness held by Perceptive Advisors, which is estimated to be approximately $52 million at closing, which will now mature in December 2029. Hicuity’s preferred shareholder will receive equity representing approximately 2.0% of DocGo’s currently outstanding common stock and may receive an additional 3.5% of currently outstanding common stock if DocGo achieves a market capitalization of $250 million within three years of closing. Perceptive Advisors has committed to provide up to an additional $50 million of debt financing to DocGo, expected to be made available in multiple tranches, the first $12.5 million of which will be funded upon Hicuity and DocGo entering into a services agreement pursuant to which DocGo will provide management related services to Hicuity during the pre-closing period. Financial Guidance Full-year 2026 revenue range is narrowed to $305-$310 million, compared to the Company’s prior guidance of $300-$315 million. Guidance does not include any contribution from the acquisition of Hicuity Health, as the transaction has not yet closed. Full-year 2026 adjusted EBITDA2 is expected to be ($17-$22) million, compared to the Company’s prior guidance of ($5-$10) million. The Company still expects to exit the year at a profitable run rate. "The continued evolution of our company into the premier provider of virtual, remote, and in-home healthcare at any address took a major leap forward with our pending acquisition of virtual care provider Hicuity Health," commented Lee Bienstock, Chief Executive Officer of DocGo. "Hicuity brings technology-enabled acute and critical care telemedicine capabilities, serving a diverse portfolio of health systems across the United States. Integrating the power of Hicuity’s offering helps us create one of the most innovative healthcare delivery platforms in the industry – a holistic tech-powered solution that enables us to match the right clinician with the right patient at the right time in the right setting. This solidifies our company’s unique position to bridge patient care across the entire continuum - from the hospital to the home." Norm Rosenberg, Chief Financial Officer of DocGo, added, "The pending acquisition of Hicuity represents not only a significant growth opportunity with numerous cost synergies, but will also create a combined entity with much greater financial liquidity. We are fortunate to add a healthcare lending partner of the caliber of Perceptive Advisors, which has committed to providing additional debt financing of up to $50 million, if needed." Rosenberg continued, "Our cost cutting initiatives progressed during the quarter, with more than four million dollars of estimated annual costs removed from SG&A during the period while also achieving record volumes across all key business verticals. We believe that the Company will achieve a positive adjusted EBITDA run rate as we exit the year and head into 2027." Norton Rose Fulbright is acting as the legal counsel of DocGo for the transaction. TD Cowen is acting as exclusive financial advisor to Hicuity Health, and Stradling Yocca Carlson & Rauth is acting as Hicuity Health's legal counsel. Adjusted gross margin and adjusted EBITDA are non-GAAP financial measures. See "Non-GAAP Financial Measures" below for additional information on these non-GAAP financial measures and reconciliations to the most comparable GAAP measures. Adjusted EBITDA is a non-GAAP financial measure. We have not reconciled adjusted EBITDA outlook to the most comparable GAAP outlook because it is not possible to do so without unreasonable efforts due to the uncertainty and potential variability of reconciling items, which are dependent on future events and often outside of management’s control and which could be significant. Because such items cannot be reasonably predicted with the level of precision required, we are unable to provide outlooks for the comparable GAAP measure (net income). Forward-looking estimates of adjusted EBITDA are made in a manner consistent with the relevant definitions and assumptions noted herein. Conference Call and Webcast Details Monday, August 17th, 2026, at 5:00 PM ET 1-800-717-1738 - Investors Dial 1-646-307-1865 - Int’l Investors Dial Conference ID: 78516 Webcast: https://viavid.webcasts.com/starthere.jsp?ei=1770673&tp_key=72425f7843 The webcast can also be accessed under Events on the Investors section of the Company’s website, https://ir.docgo.com/. About DocGo DocGo is leading the proactive healthcare revolution with an innovative care delivery platform that includes mobile health services, remote patient monitoring, ambulance services and a 50-state virtual care network. DocGo is helping to reshape the traditional four-wall healthcare system by providing high quality, highly accessible care to patients where and when they need it. DocGo’s proprietary technology and relationships with a dedicated field staff of certified health professionals elevate the quality of patient care and drive business efficiencies for municipalities, hospital networks and health insurance providers. With Mobile Health, DocGo empowers the full promise and potential of telehealth by facilitating healthcare treatment, in tandem with a remote advanced practice provider, in the comfort of a patient’s home or workplace. Together with DocGo’s integrated Ambulnz medical transport services, DocGo is bridging the gap between physical and virtual care. For more information, please visit www.docgo.com. To get an inside look on how the proactive healthcare revolution is helping transform healthcare by reducing costs, increasing efficiency and improving outcomes, visit www.proactivecarenow.com. Forward-Looking Statements This earnings release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, the plans, strategies, outcomes, and prospects, both business and financial, of the Company, including the Company’s expectations around projected revenues and adjusted EBITDA for fiscal year 2026; the performance and growth of SteadyMD and the Company’s mobile phlebotomy business and other core business lines; completion of the acquisition of Hicuity Health and successful integration of the business; the performance and growth of Hicuity; the availability of debt financing from Perceptive Advisors following the acquisition of Hicuity; the launch of new Mobile Health programs; the demand for and expansion of the Company’s services; cash flow and cash collections; the Company’s cash balances; margin improvements; and the Company’s achievement of profitability. These statements are based on the beliefs and assumptions of the Company’s management. Although the Company believes that its plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, the Company cannot assure you that it will achieve or realize these plans, intentions, outcomes, results or expectations. Accordingly, you should not place undue reliance on such statements. All statements other than statements of historical fact are forward-looking, including, but not limited, to statements regarding the Company’s future actions, business strategies or models, plans, goals, future events, future revenues, future margins, current and future revenue guidance, future growth or performance, financing needs, business trends, results of operations, objectives and intentions with respect to future operations, services and products, and new and existing contracts or partnerships. In some cases, these statements may be preceded by, followed by or include the words "believes," "estimates," "expects," "projects," "forecasts," "may," "might," "will," "should," "could," "can," "would," "design," "potential," "seeks," "plans," "scheduled," "anticipates," "intends" or the negative of these terms or similar expressions. Forward-looking statements are inherently subject to substantial risks, uncertainties and assumptions, many of which are beyond the Company’s control, and which may cause its actual results or outcomes, or the timing of its results or outcomes, to differ materially from those contained in its forward-looking statements, including, but not limited to the following: impacts related to the wind down of migrant-related services; the Company’s ability to continue as a going concern; the Company’s ability to maintain its listing on Nasdaq; the Company’s ability to pursue strategic initiatives to deliver on shareholder value; the Company’s ability to expand its programs with insurance partners, hospital systems, municipalities and other strategic partners; the Company’s ability to successfully implement its business strategy, including delivering value to shareholders via buybacks and funding new strategic relationships; the Company’s ability to establish, maintain and grow customer relationships; the Company’s ability to execute projects to the satisfaction of its customers; the Company’s ability to grow demand for its care gap closure programs and other services; the Company’s ability to maintain or grow its cash balances; the Company’s reliance on and ability to maintain its contractual relationships with its healthcare provider partners and other strategic partners; the Company’s ability to compete effectively in a highly competitive industry, including conditions in the healthcare transportation and mobile health services markets; the Company’s ability to maintain existing contracts; the Company’s reliance on government contracts, including changes in government spending on healthcare and other social services; the Company’s ability to effectively manage its growth; the Company’s financial performance and future prospects; the Company’s ability to deliver on its business strategies or models, plans and goals; the Company’s ability to expand geographically; the Company’s M&A activity and success of its acquisition strategy; the Company’s ability to retain its workforce and management personnel and successfully manage leadership transitions; the availability of healthcare professionals and other personnel; changes in the cost of labor; the Company’s ability to collect on customer receivables; risks associated with the Company’s share repurchase program; overall macroeconomic and geopolitical conditions, including the interest rate environment, the inflationary environment, the potential recessionary environment, regional conflict and tensions, financial institution instability and the ongoing or any future shutdown of the U.S. federal government; the ability of the Company’s suppliers to meet its needs; the Company’s ability to obtain or maintain operating licenses; potential changes in federal, state or local government policies or priorities; expected impacts of geopolitical instability; the Company’s competitive position and opportunities, including its ability to realize the benefits from its operating model; the Company’s ability to improve gross margins; the Company’s ability to implement and deliver on cost-containment measures and ongoing cost rationalization initiatives; legislative and regulatory actions; the impact of legal proceedings and compliance risk; volatility of our stock price; the impact on the Company’s business and reputation in the event of information technology system failures, network disruptions, cyber incidents or losses or unauthorized access to, or release of, confidential information; the Company’s ability to comply with laws and regulations regarding data privacy and protection and other risk factors included in the Company’s filings with the Securities and Exchange Commission ("SEC"). Moreover, the Company operates in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible for the Company to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this earnings release. The results, events, and circumstances reflected in the forward-looking statements may not be achieved or occur, and actual results or outcomes could differ materially from those described in the forward-looking statements. The forward-looking statements made in this earnings release are based on events or circumstances as of the date on which the statements are made. The Company undertakes no obligation to update any forward-looking statements made in this earnings release to reflect events or circumstances after the date of this earnings release or to reflect new information or the occurrence of unanticipated events, except as and to the extent required by law. The Company’s forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures or investments. Non-GAAP Financial Measures The following information provides definitions and reconciliation of non-GAAP financial measures used by the Company to the most directly comparable financial measures calculated and presented in accordance with generally accepted accounting principles ("GAAP"). The Company has provided this non-GAAP financial information, which is not calculated or presented in accordance with GAAP, as information supplemental and in addition to the financial measures presented in this earnings release that are calculated and presented in accordance with GAAP. Such non-GAAP financial measures should not be considered superior to, as a substitute for or alternative to, and should be considered in conjunction with, the GAAP financial measures presented in this earnings release. The non-GAAP financial measures used by the Company may differ from similarly titled measures used by other companies. Adjusted Gross Margin Adjusted gross profit and adjusted gross margin are considered non-GAAP financial measures under SEC rules because they exclude certain amounts included in gross profit and gross margin calculated in accordance with GAAP. Adjusted gross profit is total revenue minus cost of revenue, excluding depreciation and amortization (which are shown separately), and adjusted gross margin is adjusted gross profit as a percentage of total revenue. The Company’s management believes that adjusted gross margin is useful in evaluating DocGo’s operating performance, as the calculation of this measure excludes the impact of non-cash depreciation and amortization charges. The Company’s management believes that by using adjusted gross margin in conjunction with GAAP gross margin, investors will get a more complete view of what management considers to be the Company’s core operating performance and allow for comparison of this measure when compared to those of prior periods. While many companies use adjusted gross margin as a performance measure, not all companies use identical calculations for determining adjusted gross margin. As such, DocGo’s presentation of adjusted gross margin might not be comparable to similarly titled measures of other companies. Adjusted EBITDA Adjusted EBITDA is considered a non-GAAP financial measure under SEC rules because it excludes certain amounts included in net income (loss) calculated in accordance with GAAP. Specifically, adjusted EBITDA is arrived at by taking reported GAAP net income and adding back the following items: net interest expense (income), provision for (benefit from) income taxes, depreciation and amortization, other (income) expense, non-cash equity-based compensation and certain other non-recurring expenses consisting of certain one-time legal settlements and certain one-time expenses incurred in connection with acquisitions and other corporate activities, beyond those that are typically incurred. The Company’s management believes that its adjusted EBITDA measure is useful in evaluating DocGo’s operating performance, as the calculation of this measure generally eliminates the effect of financing and income taxes and the accounting effects of capital spending and acquisitions, as well as other items of a non-recurring and/or non-cash nature. Adjusted EBITDA is not intended to be a measure of GAAP cash flow, as this measure does not consider certain cash-based expenses, such as payments for taxes or debt service. Management believes that using adjusted EBITDA in conjunction with GAAP measures such as net income assists investors in getting a more complete picture of the Company’s financial results and operations, affording them with a more complete view of what management considers to be the Company’s core operating performance as well as offering the ability to assess such performance as compared with that of prior periods and management’s public guidance. While many companies use adjusted EBITDA as a performance measure, not all companies use identical calculations for determining adjusted EBITDA. As such, DocGo’s presentation of adjusted EBITDA might not be comparable to similarly titled measures of other companies. Reconciliation of Non-GAAP Measures The table below reflects the reconciliation of GAAP gross margin and adjusted gross margin for the three and six months ended June 30, 2026 compared to the same periods in 2025: The table below reflects the reconciliation of net income (loss) to adjusted EBITDA for the three and six months ended June 30, 2026 compared to the same periods in 2025 and three months ended March 31, 2026 (in millions): View source version on businesswire.com: https://www.businesswire.com/news/home/20260817817897/en/ Contacts Investors: Mike [email protected] [email protected]

Interested in DocGo Inc.? Here are five stocks we like better. Q2 revenue fell to $73.4 million from $80.4 million a year earlier as DocGo reduced migrant-related work, though revenue excluding those projects increased 19% year over year. Core service volumes reached records across transportation, in-home healthcare, mobile phlebotomy, monitoring and virtual care. DocGo agreed to acquire Hicuity Health, a virtual acute-care provider with approximately $65 million in trailing revenue and $4.5 million in adjusted EBITDA. The deal is intended to expand DocGo’s hospital-to-home platform and includes assumed debt of about $52 million plus up to $50 million in additional financing from Perceptive Advisors. Full-year adjusted EBITDA guidance was lowered to a loss of $17 million to $22 million, although revenue guidance was narrowed to $305 million-$310 million. Management cited larger-than-expected first-half losses and slower margin recovery, but expects to exit 2026 at a positive adjusted EBITDA run rate. DocGo: A Growth Stock Going Higher In 2023 DocGo (NASDAQ:DCGO) reported second-quarter revenue of $73.4 million, down from $80.4 million a year earlier, as the company continued to wind down migrant-related projects. Excluding migrant-related revenue, revenue rose 19% year over year, while revenue from business lines operating in both periods increased about 5% after also excluding contributions from the SteadyMD acquisition. Chief Executive Officer Lee Bienstock said the quarter marked a “transformational period” for the company, highlighted by a definitive agreement to acquire acute and critical-care telemedicine provider Hicuity Health, new financing commitments and record service volumes across business lines. → Applied Materials Beat Everything but Wall Street’s Expectations for Margins DocGo said it has agreed to acquire St. Louis-based Hicuity Health, which provides Tele-ICU, virtual nursing and telemetry monitoring services through its proprietary clinical monitoring platform, known as The Hub. Hicuity has more than 400 clinical staff and generated approximately $65 million in trailing 12-month revenue and $4.5 million in adjusted EBITDA, according to DocGo. Chief Financial Officer Norm Rosenberg said Hicuity’s revenue has been growing at a low-double-digit annual rate, which he described as roughly 10% to 12%. The company expects the acquisition to complement its existing virtual-care capabilities, including SteadyMD, acquired in late 2025, and its in-home service offerings. → Texas Roadhouse and Brinker International Have the Recipe Rivals Are Missing Bienstock said the combined platform would enable DocGo to serve patients “from the hospital to the home,” with potential opportunities to cross-sell virtual care, mobile phlebotomy, remote monitoring and transitional-care services to health-system customers. He said DocGo and Hicuity have overlapping hospital-system relationships, while each also serves customers that the other does not. Under the transaction terms, DocGo will acquire Hicuity on a cash-free basis and assume debt held by Perceptive Advisors that is estimated at approximately $52 million at closing and matures in December 2029. Perceptive also committed to provide up to $50 million in additional financing in multiple tranches. The first $12.5 million is expected to be funded through a pre-closing management-services agreement. → AirJoule Technologies: Short Squeeze Setup Amid Rising Risks DocGo will issue equity representing 2% of its fully diluted common stock at closing to Hicuity’s preferred equity holder. That holder could receive an additional 3.5% equity interest if DocGo reaches a market capitalization of $250 million within three years after closing. Rosenberg said the deal still requires state regulatory approvals and approvals from certain customers, but management does not view those requirements as particularly problematic beyond potential timing considerations. Bienstock said DocGo posted record volumes in its core businesses during the quarter. Year-over-year volume growth included a 15% increase in U.S. medical transportation, 26% growth in healthcare in the home, 20% growth in mobile phlebotomy, 13% growth in cardiac and remote patient monitoring, and 58% growth in virtual care and lab orders. The company also signed a new contract with one of the country’s largest national health plans to provide services to members in Pennsylvania. The number of patients assigned to DocGo’s care-gap-closure services reached 1.7 million since inception, up 100,000 from the prior quarter. Medical transportation revenue rose to a quarterly record of $52 million, compared with $49.6 million in the prior-year period. Mobile health revenue fell to $21.4 million from $30.8 million because of the decline in migrant-related work, though non-migrant mobile health revenue increased 78%, driven by care-gap closures, remote patient monitoring, mobile phlebotomy and SteadyMD. DocGo’s adjusted EBITDA loss narrowed sequentially to $6.3 million from $10.3 million in the first quarter, though it compared with a $6.1 million loss in the second quarter of 2025. The company said a corporate reduction in force reduced annual selling, general and administrative expense by approximately $4.5 million. The company is also deploying artificial intelligence tools across its operations. In mobile phlebotomy, an AI communications tool now handles 60% of inbound patient calls without live-agent involvement and all outbound appointment scheduling calls, or more than 1,000 calls on a typical day, management said. AI data-entry integrations account for 65% of orders received, with DocGo targeting 90% by year-end. The company estimates that more than 10 active efficiency programs could generate about $6 million in annual savings once fully implemented. Adjusted gross margin was 30.5%, down from 31.6% a year earlier. Medical transportation adjusted gross margin improved to 32% from 31.1%, but higher field-labor costs and fuel prices remained constraints. Fuel prices averaged $4.27 per gallon during the quarter, compared with $3.16 a year earlier, which DocGo estimated reduced transportation gross margin by about 60 basis points. Mobile health adjusted gross margin fell to 27% from 32.5%, partly reflecting lower-than-normal SteadyMD margins after hiring to address demand and prepare for expected seasonal volume in the second half. However, Rosenberg said continuing mobile health business lines improved gross margin by more than 500 basis points when excluding migrant-related revenue from the prior-year comparison. DocGo narrowed its full-year revenue outlook to $305 million to $310 million, within its prior range of $300 million to $315 million. The guidance excludes potential contributions from Hicuity and migrant-related projects. The company now expects a full-year adjusted EBITDA loss of $17 million to $22 million, wider than its prior projected loss of $5 million to $10 million. Management attributed the revised EBITDA outlook to larger-than-expected first-half losses and a gross-margin recovery that has progressed more slowly than anticipated. Still, DocGo said it expects to exit 2026 at a positive adjusted EBITDA run rate, supported by revenue growth, improving margins and lower SG&A expenses. At June 30, DocGo had total cash, cash equivalents, restricted cash and investments of $48.1 million, including available cash of $25.2 million. The company said the planned Perceptive financing would replace its existing asset-backed credit line and provide added balance-sheet flexibility. DocGo, Inc is a U.S.-based integrated healthcare company that delivers on-demand and mobile healthcare services. The company’s business model centers on deploying customized medical clinics paired with a digital care platform to bring primary and acute care directly to patients. Through a combination of telemedicine and over-the-road medical units, DocGo addresses routine medical exams, chronic disease management, occupational health screenings, specialist consultations and urgent care interventions. In addition to its mobile clinic fleet, DocGo’s digital platform offers 24/7 virtual care, facilitating remote consultations via video, phone or secure messaging. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "DocGo Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Shareholders might have noticed that DocGo Inc. (NASDAQ:DCGO) filed its first-quarter result this time last week. The early response was not positive, with shares down 5.5% to US$0.59 in the past week. Revenues of US$76m beat expectations by a respectable 4.3%, although statutory losses per share increased. DocGo lost US$0.15, which was 22% more than what the analysts had included in their models. This is an important time for investors, as they can track a company's performance in its report, look at what experts are forecasting for next year, and see if there has been any change to expectations for the business. We've gathered the most recent statutory forecasts to see whether the analysts have changed their earnings models, following these results. Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. Taking into account the latest results, DocGo's five analysts currently expect revenues in 2026 to be US$306.3m, approximately in line with the last 12 months. Losses are predicted to fall substantially, shrinking 82% to US$0.34. Before this earnings announcement, the analysts had been modelling revenues of US$298.9m and losses of US$0.32 per share in 2026. So it's pretty clear consensus is mixed on DocGo after the new consensus numbers; while the analysts lifted revenue numbers, they also administered a moderate increase in per-share loss expectations. See our latest analysis for DocGo Spiting the revenue upgrading, the average price target fell 11% to US$1.87, clearly signalling that higher forecast losses are a valuation concern. There's another way to think about price targets though, and that's to look at the range of price targets put forward by analysts, because a wide range of estimates could suggest a diverse view on possible outcomes for the business. Currently, the most bullish analyst values DocGo at US$3.00 per share, while the most bearish prices it at US$1.00. Still, with such a tight range of estimates, it suggeststhe analysts have a pretty good idea of what they think the company is worth. These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the DocGo's past performance and to peers in the same industry. It's pretty clear that there is an expectation that DocGo's revenue growth will slow down substantially, with revenues to the end of 2026 expected to display 2.0% growth on an annualised basis. This is compared to a historical growth rate of 11% over the past five years. Compare this against other companies (with analyst forecasts) in the industry, which are in aggregate expected to see revenue growth of 4.7% annually. Factoring in the forecast slowdown in growth, it seems obvious that DocGo is also expected to grow slower than other industry participants. The most important thing to note is the forecast of increased losses next year, suggesting all may not be well at DocGo. Fortunately, they also upgraded their revenue estimates, although our data indicates it is expected to perform worse than the wider industry. Furthermore, the analysts also cut their price targets, suggesting that the latest news has led to greater pessimism about the intrinsic value of the business. With that said, the long-term trajectory of the company's earnings is a lot more important than next year. We have forecasts for DocGo going out to 2027, and you can see them free on our platform here. Even so, be aware that DocGo is showing 3 warning signs in our investment analysis , you should know about... Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Interested in DocGo Inc.? Here are five stocks we like better. DocGo raised its 2026 revenue outlook to $300 million-$315 million after first-quarter revenue came in at $75.6 million, with management saying stronger-than-expected performance in several businesses — especially SteadyMD — is driving the improvement. SteadyMD is becoming a major growth engine, generating about $9.5 million in quarterly revenue and more than 1.1 million virtual visits and lab orders, while new pharmacy and digital health contracts are expanding its reach. Transportation hit a record quarter at $51.9 million in revenue, but margins were pressured by fuel costs and hiring-related inefficiencies, even as DocGo said staffing improvements and cost cuts should help results later in the year. DocGo: A Growth Stock Going Higher In 2023 DocGo (NASDAQ:DCGO) reported first-quarter revenue of $75.6 million and an adjusted EBITDA loss of $10.2 million, as executives pointed to accelerating demand in virtual care, medical transportation and mobile health services while acknowledging pressure from fuel costs and labor-related investments. The company raised its 2026 revenue outlook to a range of $300 million to $315 million, while keeping its full-year adjusted EBITDA guidance unchanged at a loss of $5 million to $10 million. Chief Executive Officer Lee Bienstock said the higher revenue forecast reflects stronger-than-expected performance across several business lines, led by virtual care platform SteadyMD. → Beyond NVIDIA: Picks-and-Shovels AI Plays with Strong Momentum Chief Financial Officer Norman Rosenberg said first-quarter revenue declined from $96 million in the year-ago period, but attributed the drop entirely to the wind down of migrant-related projects. Excluding migrant-related revenues, revenue increased 24% year over year, he said. Excluding both migrant-related revenue in the prior-year period and SteadyMD revenue in the current period, revenue rose about 8%. Bienstock said SteadyMD generated more than $9 million in revenue during the quarter, with Rosenberg later specifying $9.5 million. The business completed approximately 1.1 million virtual visits and lab orders in the period, up 38% from last year, according to Bienstock. → 3 Ways to Target the Resources Powering AI and Data Centers The CEO said SteadyMD recently signed a new contract with a leading online pharmacy to provide virtual care services for weight loss prescriptions and broader general clinical services. In response to an analyst question, Bienstock said the company is working with pharmacies offering branded weight-loss medications and charges a per-visit rate rather than participating in revenue sharing. Bienstock said growth is coming from both existing customers and new logos, including online pharmacies, digital health companies, wellness companies, digital wearable companies and labs. Rosenberg said roughly $8 million to $9 million of the increase in the company’s full-year revenue guidance was related to SteadyMD. → MercadoLibre Boldly Invests in Growth: Discount Deepens Rosenberg said SteadyMD’s first-quarter pace implies a roughly $36 million annual run rate, though he noted the business typically sees higher volume in the first and fourth quarters. Bienstock said the company expects SteadyMD to contribute roughly $35 million to $36 million for the year in its projections. Medical transportation revenue rose to $51.9 million in the first quarter from $50.8 million a year earlier, which Rosenberg said represented the highest quarterly transport revenue in DocGo’s history. He cited growth in large and small U.S. markets, including New York, Texas and Tennessee. Bienstock said DocGo renewed a contract with a major New York hospital system for one year and renewed another contract with a major New York health system for two years while adding Staten Island facilities. The company also signed new transportation agreements with a long-term acute care hospital in Chattanooga, Tennessee, several hospice facilities in Wisconsin and the Great Western Hospitals NHS Foundation Trust in the United Kingdom. Executives said the transportation business is benefiting from improved field staffing. Rosenberg said the company had previously identified demand that it could not fulfill because of staffing constraints, and that adding field labor translated into higher volume. Mobile health revenue was $23.6 million, down from $45.2 million in the first quarter of 2025 because of the migrant project wind down. Rosenberg said non-migrant mobile health revenue more than doubled, aided by care gap closure, remote patient monitoring, mobile phlebotomy and the inclusion of SteadyMD. Excluding SteadyMD, mobile health revenue rose about 38% year over year. Bienstock said the company’s mobile phlebotomy business is now projected to grow as much as 75% in 2026, above prior expectations. DocGo expects home visits to rise from about 600 per day currently to 900 per day by the end of the year. The company has opened new territories in Upstate New York and Pennsylvania and plans to launch services in Florida. In care gap closure and primary care services, Bienstock said DocGo has surpassed 1.6 million lives assigned since inception and increased completed visits 46% year over year. The company’s primary care and longitudinal care panel now includes more than 1,000 patients, most of whom were enrolled in the first quarter. Bienstock said the goal is for that business line to break even in late 2026. During the question-and-answer portion, Bienstock said health plans continue to use DocGo for care gap closure among patients who are “falling through the cracks” or unattached to care. He said 60% of patients visited in their homes had two or more chronic conditions, 20% had social needs or risks affecting health outcomes, and 42% had chronic conditions that had not previously been documented. He also said the company remains on pace to add two to four new payer logos in the first half of the year. DocGo’s adjusted gross margin was 31.6% in the first quarter, compared with 32.1% a year earlier. Rosenberg said that excluding migrant revenue and SteadyMD from the comparable periods, adjusted gross margin for the underlying business would have been 31.9%, up from 30.4% in the prior-year quarter. Bienstock said SteadyMD’s rapid growth created labor inefficiencies, requiring higher incentives for current clinicians while the company worked to close a hiring gap. He said that reduced consolidated gross margin by about 60 basis points. DocGo increased SteadyMD’s clinical workforce by more than 45% during the quarter, and Bienstock said the issue has already corrected so far in the second quarter. Fuel costs also weighed on margins. Bienstock said DocGo’s average fuel price in March was $3.69 per gallon, compared with $2.93 in January and February, and estimated that each $1 increase at the pump costs the company about 35 basis points of consolidated gross margin. Rosenberg said fuel was running at about $4 per gallon at the time of the call and could pressure second-quarter margins. Operating expenses were also higher than expected, which Rosenberg attributed to hiring, onboarding and training mobile health clinical staff, as well as delays in realizing cost savings from vendor and corporate headcount reductions. Bienstock said adjusted operating expenses, excluding depreciation, stock-based compensation and other non-recurring items, declined from $35.7 million in the fourth quarter of 2025 to $34.1 million in the first quarter. Rosenberg said the full benefit of cost-cutting actions is expected to be seen mostly by the third quarter. DocGo ended the quarter with $59.9 million in cash, cash equivalents, restricted cash and investments, down from $68.3 million at the end of 2025. Rosenberg said the quarter-end balance was lower than expected because of delayed collection of migrant-related accounts receivable from New York City’s Department of Housing Preservation and Development. The company received approximately $8 million on April 1 and is working to collect roughly $13 million remaining from that agency. Rosenberg said cash may decline further in the near term because of operating losses in the second quarter and working capital needs tied to growth initiatives. He said any working capital pressure is expected to ease in the second half of the year in line with the company’s planned return to profitability. Bienstock also said DocGo’s previously announced strategic alternatives review remains ongoing. He said there is no assurance the process will result in any transaction or strategic outcome, and that the company will share further developments as appropriate. DocGo, Inc is a U.S.-based integrated healthcare company that delivers on-demand and mobile healthcare services. The company’s business model centers on deploying customized medical clinics paired with a digital care platform to bring primary and acute care directly to patients. Through a combination of telemedicine and over-the-road medical units, DocGo addresses routine medical exams, chronic disease management, occupational health screenings, specialist consultations and urgent care interventions. In addition to its mobile clinic fleet, DocGo’s digital platform offers 24/7 virtual care, facilitating remote consultations via video, phone or secure messaging. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "DocGo Q1 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for May 2026.

This article first appeared on GuruFocus. Release Date: May 11, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. DocGo Inc (NASDAQ:DCGO) reported a strong top-line revenue of $75.6 million in the first quarter. The company increased its 2026 revenue guidance to a range of $300 million to $315 million. SteadyMD, a virtual care offering, generated over $9 million in revenue, marking a 38% increase in visits and lab orders year-over-year. The mobile phlebotomy business is projected to grow by 75% in 2026, with plans to expand into new territories. DocGo Inc (NASDAQ:DCGO) signed new contracts and expansions with payers and providers, surpassing 1.6 million lives assigned for care gap services. DocGo Inc (NASDAQ:DCGO) reported an adjusted EBITDA loss of $10.2 million for the first quarter. The company experienced labor inefficiencies due to SteadyMD's rapid growth, impacting gross margins by approximately 60 basis points. Increased fuel costs due to geopolitical tensions negatively affected gross margins by about 35 basis points. Operating expenses were higher than anticipated due to ramping up hiring and onboarding of clinical staff. Cash and cash equivalents decreased to $59.9 million, partly due to delays in collecting migrant-related accounts receivable. Warning! GuruFocus has detected 5 Warning Signs with DCGO. Is DCGO fairly valued? Test your thesis with our free DCF calculator. Q: What kind of pipeline are you seeing for new logos versus growth with existing logos in the SteadyMD business? Are you seeing most demand from online pharmacies for weight loss or other customer types? A: (Lee Beanstock, CEO) Growth is coming from both existing customers and new logos. We're expanding with online pharmacies, digital health companies, wellness companies, and digital wearable companies. The demand is not just for weight loss but also for general wellness. We're integrating SteadyMD's telehealth with in-home visits to expand margins and enhance service offerings. Q: Can you explain the reiteration of the EBITDA guidance despite strong revenue performance? A: (Norm, CFO) Despite strong revenue momentum, we maintained EBITDA guidance due to anticipated pressures on gross margins from increased fuel prices and labor costs. We expect these pressures to be temporary, with improvements in operating expenses anticipated in the coming quarters. Q: How is the payer business performing, and are there any changes in how payers are using your services for care gap closures? A: (Lee Beanstock, CEO) The payer business is consistent with past trends, focusing on care gap closures for unattached patients. We're also providing primary care services, with many patients opting for us as their PCP. We continue to uncover undocumented chronic conditions, which is valuable for health plans and patients. We are on track to add two to four new payer logos in the first half of the year. Q: Can you provide more details on the weight management program and the new partnership with an online pharmacy? A: (Lee Beanstock, CEO) We charge a per-visit rate with no revenue sharing. We're working with pharmacies offering branded weight loss medications, and our clinical visits are part of the prescription process. This area is experiencing significant growth, and we're actively participating in it. Q: What are the main drivers of growth in the mobile health segment, excluding SteadyMD? A: (Lee Beanstock, CEO) The main growth drivers are patient monitoring, healthcare in the home, care gap closures, primary care, and mobile phlebotomy. These areas are integrating well, with SteadyMD overseeing in-home visits and utilizing phlebotomy and patient monitoring services, contributing to the overall growth of the healthcare anywhere portfolio. For the complete transcript of the earnings call, please refer to the full earnings call transcript.