DocGo (NASDAQ:DCGO) Posts Earnings Results, Misses Expectations By $0.06 EPS

DocGo (NASDAQ:DCGO) released its quarterly earnings results on Monday. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.06), FiscalAI reports. The company had revenue of $73.42 million during the quarter, compared to analyst estimates of $75.35 million. DocGo had a negative net margin of 62.23% and a negative return on equity of 44.09%.

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

• DocGo agreed to acquire Hicuity Health, a virtual acute- and critical-care provider with approximately $65 million in trailing-12-month revenue and $4.5 million in adjusted EBITDA. Management expects cross-selling opportunities, operational synergies, and a broader hospital-to-home care platform.
• Perceptive Advisors committed up to $50 million in additional financing, while Hicuity’s existing approximately $52 million of debt will be extended to December 2029. The funding is expected to replace DocGo’s asset-backed credit line and provide greater flexibility for growth.
• Core business volumes reached records, including year-over-year gains of 15% in U.S. medical transportation, 26% in healthcare at home, 20% in mobile phlebotomy, and 58% in virtual care and lab orders. Excluding migrant-related revenue and the SteadyMD acquisition, organic revenue still grew approximately 5% year over year.
• Efficiency initiatives are beginning to reduce costs, with the adjusted EBITDA loss improving nearly 40% sequentially to $6.3 million and a corporate reduction in force expected to lower annual SG&A by about $4.5 million. DocGo estimates approximately $6 million in additional annual savings from AI and other efficiency programs once fully implemented.
• DocGo widened its 2026 adjusted EBITDA loss guidance to $17 million-$22 million from $5 million-$10 million, citing weaker-than-expected margins and delayed cost-cutting benefits. Total cash and equivalents declined to $48.1 million at quarter-end, while revenue remained pressured by the wind-down of migrant-related projects.

DocGo Price Performance

Shares of DCGO opened at $0.48 on Wednesday. The business’s 50 day simple moving average is $0.60 and its 200-day simple moving average is $0.64. DocGo has a one year low of $0.45 and a one year high of $1.73. The company has a market capitalization of $46.93 million, a P/E ratio of -0.24 and a beta of 0.99.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on DCGO. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $1.00 price objective on shares of DocGo in a research note on Tuesday. Weiss Ratings restated a “sell (e+)” rating on shares of DocGo in a report on Thursday, June 18th. Cantor Fitzgerald reiterated an “overweight” rating on shares of DocGo in a research note on Monday, May 11th. Wall Street Zen raised shares of DocGo from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Needham & Company LLC restated a “buy” rating and issued a $3.00 price target on shares of DocGo in a research report on Tuesday. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $2.38.

Institutional Investors Weigh In On DocGo

A number of hedge funds have recently modified their holdings of the business. Cerity Partners LLC acquired a new position in DocGo during the second quarter valued at approximately $37,000. Strs Ohio acquired a new position in DocGo during the 1st quarter worth about $76,000. Engineers Gate Manager LP acquired a new stake in DocGo during the second quarter worth approximately $52,000. Neuberger Berman Group LLC acquired a new position in shares of DocGo during the fourth quarter valued at about $29,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of DocGo in the 4th quarter worth $40,000. Institutional investors and hedge funds own 56.44% of the company’s stock.

DocGo News Summary

Here are the key news stories impacting DocGo this week:

• Positive Sentiment: Needham & Company reaffirmed its Buy rating and $3.00 price target, implying substantial potential upside from current levels. Needham reiterates Buy rating on DocGo
• Positive Sentiment: Canaccord Genuity reaffirmed its Hold rating and raised or maintained a $1.00 price target, also above the recent trading level. Benzinga analyst coverage
• Neutral Sentiment: DocGo forecast fiscal 2026 revenue of approximately $305 million to $310 million, broadly in line with the roughly $305.7 million analyst consensus. DocGo shares tumble after earnings miss and wider loss forecast
• Negative Sentiment: Second-quarter revenue fell to $73.4 million from $80.4 million a year earlier, primarily because of the wind-down of migrant-related programs. The company reported a $0.16-per-share loss, worse than the $0.10 consensus loss, while profitability metrics remained weak. DocGo announces second-quarter 2026 results
• Negative Sentiment: Investors appear more focused on the earnings miss and expectations for a wider full-year loss than on the analyst-rating support. The results also highlighted continued dependence on replacing declining migrant-program revenue with new business. DocGo shares tumble after earnings miss and wider loss forecast

About DocGo

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.