DocGo (NASDAQ:DCGO) Releases Quarterly Earnings Results

DocGo (NASDAQ:DCGO) released its earnings results on Monday. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.06), FiscalAI reports. DocGo had a negative net margin of 65.29% and a negative return on equity of 40.42%. The company had revenue of $73.43 million during the quarter, compared to analyst estimates of $77.24 million.

Here are the key takeaways from DocGo’s conference call:

• Third-quarter revenue was $73.4 million, up 4% year over year, while the adjusted EBITDA loss narrowed to $3.2 million from $7.2 million a year earlier and $6.3 million in the prior quarter.
• DocGo lowered its 2026 revenue outlook to approximately $300 million from $305 million–$310 million, while reaffirming its adjusted EBITDA loss guidance of $17 million–$22 million. Management attributed the revenue reduction partly to exiting or restructuring unprofitable business.
• Gross margin rose to 33.3% from 30.5% in the second quarter, and adjusted SG&A declined to $28.7 million. Management cited cost cuts and AI-enabled outreach, which it said reduced cost per booking by more than 50%.
• Cash was $19.1 million at quarter-end, down from $25.2 million at the end of Q2. A $12.5 million term-loan tranche closed after quarter-end, with additional funding dependent on the Hicuity transaction and revenue conditions; the company is also pursuing collection of about $19 million in receivables.
• CEO Lee Bienstock plans to transition out once a successor is appointed and expects to remain through at least March 31, 2027. Management did not provide formal 2027 guidance, but said it anticipates revenue growth and positive adjusted EBITDA for the year.

DocGo Trading Up 2.8%

Shares of DCGO opened at $0.25 on Tuesday. DocGo has a twelve month low of $0.21 and a twelve month high of $1.17. The stock’s 50 day moving average is $0.33 and its two-hundred day moving average is $0.56. The firm has a market capitalization of $24.91 million, a PE ratio of -0.13 and a beta of 1.03.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Canaccord Genuity Group reaffirmed a “hold” rating and set a $1.00 price target on shares of DocGo in a report on Tuesday, August 18th. Weiss Ratings reissued a “sell (e+)” rating on shares of DocGo in a research note on Monday, September 14th. Finally, Needham & Company LLC cut their price objective on shares of DocGo to $1.00 and set a “buy” rating for the company in a research report on Tuesday. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, DocGo has a consensus rating of “Hold” and an average target price of $1.50.

DocGo Company Profile

DocGo Inc (NASDAQ:DCGO) is a healthcare services company that delivers medical care and related support outside traditional healthcare facilities. Its platform combines mobile medical services, technology and logistics to help healthcare providers, government agencies and other organizations improve access to care.

The company provides mobile health services that can include in-home and community-based clinical care, preventive services, diagnostic testing, vaccinations and care coordination.