Docgo Stock Earnings Reports

DocGo reported Q1 2026 revenue of $75.6 million and reiterated full-year adjusted EBITDA guidance of a loss of $5M–$10M while raising 2026 revenue guidance to $300M–$315M (previous range $290M–$310M). Key growth drivers are the recently acquired virtual care business SteadyMD (Q1 revenue >$9M, ~1.1M visits/lab orders in the period, accelerated momentum, new online pharmacy contract for weight‑loss and general care), strong mobile phlebotomy and broader mobile health expansion (mobile phlebotomy projected up to 75% growth in 2026 and daily home visits targeted to rise from ~600 to ~900 by year‑end), and ongoing strength in medical transportation (record quarterly transport revenues and several contract renewals and new wins, including UK NHS work). Core organic growth (excluding migrant-related revenue from 2025 and SteadyMD in 2026) was positive: transport up 17% YoY, health care in the home up 46% YoY, mobile phlebotomy up 8% YoY, remote monitoring up 13% YoY, and virtual care and lab orders up 37% YoY. Margin pressure in Q1 came from temporary effects: higher clinician incentives and overtime to support rapid SteadyMD ramp (lowering margins ~60 bps) and elevated fuel costs (estimated ~35 bps gross margin impact per $1/gal increase), plus timing lags from cost‑cutting actions. Management expects SteadyMD staffing to normalize in Q2, further SG&A savings to materialize in Q2–Q3, working capital pressure in the near term with cash down to $59.9M at quarter end (partly due to delayed receivables from NYC HPD; ~$8M collected on April 1, ~$13M remains outstanding), and the company is continuing to evaluate strategic alternatives. Overall, management communicates confidence in sustainable top‑line momentum driven by integration across its care-at-any-address portfolio, with profitability improvements expected later in 2026.