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

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

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 Stock Performance

Shares of DCGO stock opened at $0.48 on Wednesday. The stock has a market capitalization of $46.93 million, a P/E ratio of -0.24 and a beta of 0.99. The company has a 50 day moving average price of $0.60 and a 200 day moving average price of $0.64. DocGo has a fifty-two week low of $0.45 and a fifty-two week high of $1.73.

Hedge Funds Weigh In On DocGo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC increased its position in shares of DocGo by 14.6% during the fourth quarter. Empowered Funds LLC now owns 138,306 shares of the company’s stock worth $121,000 after acquiring an additional 17,607 shares during the period. Boothbay Fund Management LLC increased its stake in shares of DocGo by 39.0% during the fourth quarter. Boothbay Fund Management LLC now owns 200,947 shares of the company’s stock worth $176,000 after buying an additional 56,413 shares during the period. Bridgeway Capital Management LLC grew its holdings in DocGo by 45.5% during the 4th quarter. Bridgeway Capital Management LLC now owns 539,306 shares of the company’s stock worth $473,000 after acquiring an additional 168,607 shares in the last quarter. Jain Global LLC purchased a new stake in shares of DocGo during the 4th quarter worth $70,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of DocGo in the 4th quarter valued at about $40,000. Hedge funds and other institutional investors own 56.44% of the company’s stock.

Analyst Upgrades and Downgrades

DCGO has been the topic of several recent analyst reports. 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 report on Monday, May 11th. Canaccord Genuity Group reissued a “hold” rating and issued a $1.00 target price on shares of DocGo in a research report on Tuesday. Wall Street Zen upgraded DocGo from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Needham & Company LLC restated a “buy” rating and set a $3.00 price target on shares of DocGo in a research report on Tuesday. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, DocGo currently has an average rating of “Hold” and a consensus price target of $2.38.

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.