DocGo Inc $DCGO

$DCGO Q1 2026 earnings: Base Revenue Thrives, but the Cost of Growth is Punishing Margins DocGo has successfully completed its transition away from migrant contracts. Total revenue declined 21% YoY to $75.6M due to this phase-out, but core base revenue grew a robust 19.3%. While top-line volume is recovering—prompting management to raise full-year revenue guidance—profitability remains entirely absent. The Adjusted EBITDA loss widened to $10.2M as the company absorbed heavy hiring costs, incentive pay, and rising fuel expenses to support the volume surge. The runway is getting shorter: cash dropped to $59.9M. DocGo is in a race to hit its targeted H2 2026 profitability inflection point before liquidity concerns overshadow the operational pivot. Full article with charts - link in bio 🐂 𝐁𝐮𝐥𝐥 𝐂𝐚𝐬𝐞 • 𝐌𝐢𝐠𝐫𝐚𝐧𝐭 𝐎𝐯𝐞𝐫𝐡𝐚𝐧𝐠 𝐢𝐬 𝐆𝐨𝐧𝐞 — The company generated $0 from migrant-related programs in Q1, meaning all future growth represents sustainable core operations. Core Mobile Health revenue rocketed 131% YoY. • 𝐃𝐞𝐦𝐚𝐧𝐝 𝐓𝐫𝐢𝐠𝐠𝐞𝐫𝐬 𝐆𝐮𝐢𝐝𝐚𝐧𝐜𝐞 𝐑𝐚𝐢𝐬𝐞 — Strong across-the-board volume metrics (home healthcare 46%, virtual care 37%) gave management confidence to raise the 2026 revenue guidance midpoint by $7.5M. 🐻 𝐁𝐞𝐚𝐫 𝐂𝐚𝐬𝐞 • 𝐃𝐞𝐞𝐩𝐞𝐧𝐢𝐧𝐠 𝐎𝐩𝐞𝐫𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐋𝐨𝐬𝐬𝐞𝐬 — Despite stripping out lower-margin legacy contracts, Adjusted EBITDA loss expanded to $10.2M (from $3.9M last year). Growth is currently coming at the direct expense of margins. • 𝐋𝐢𝐪𝐮𝐢𝐝𝐢𝐭𝐲 𝐃𝐫𝐚𝐢𝐧 — Total cash dropped again sequentially to $59.9M. With ongoing operating losses, the company has limited breathing room before requiring a strategic transaction or outside capital. ⚖️ 𝐕𝐞𝐫𝐝𝐢𝐜𝐭: 🔴 Bearish. The successful pivot to core revenue is a significant milestone, but the business model currently lacks operating leverage. Management is essentially buying revenue growth with aggressive hiring and incentives, burning through a dwindling cash reserve while awaiting an uncertain strategic alternative process. 𝐊𝐞𝐲 𝐓𝐡𝐞𝐦𝐞𝐬 🟢 𝐒𝐭𝐞𝐚𝐝𝐲𝐌𝐃 𝐚𝐧𝐝 𝐕𝐢𝐫𝐭𝐮𝐚𝐥 𝐂𝐚𝐫𝐞 𝐒𝐜𝐚𝐥𝐢𝐧𝐠 𝐑𝐚𝐩𝐢𝐝𝐥𝐲 [NEW] The integration of SteadyMD is Accelerating top-line results. Mobile Health base revenue jumped 131% YoY to $23.6M. SteadyMD secured a new contract with a major online pharmacy for weight loss prescriptions and general clinical services, and management now projects its top-line growth will exceed 50% for the full year. 🟢 𝐌𝐞𝐝𝐢𝐜𝐚𝐥 𝐓𝐫𝐚𝐧𝐬𝐩𝐨𝐫𝐭𝐚𝐭𝐢𝐨𝐧 𝐕𝐨𝐥𝐮𝐦𝐞𝐬 𝐏𝐫𝐨𝐯𝐢𝐝𝐞 𝐒𝐭𝐚𝐛𝐢𝐥𝐢𝐭𝐲 The foundational Medical Transportation segment is Stable and growing, with revenue reaching $51.9M. U. S. medical transportation volumes grew 17% YoY. As the company continues to backfill staff and capture previously outsourced routes, this segment acts as the primary cash flow stabilizer. 🟢 𝐏𝐚𝐲𝐞𝐫 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐅𝐨𝐨𝐭𝐩𝐫𝐢𝐧𝐭 𝐄𝐱𝐩𝐚𝐧𝐝𝐢𝐧𝐠 The long-term play into population health is Accelerating. DocGo surpassed 1.6 million assigned patients for care gap closure services, up from 1.45 million in 25Q4. Coupled with participation in the CMS ACCESS Model program for chronic disease management, the recurring revenue pipeline is solidifying. 🔴 𝐆𝐫𝐨𝐰𝐭𝐡 𝐢𝐬 𝐃𝐞𝐬𝐭𝐫𝐨𝐲𝐢𝐧𝐠 𝐌𝐚𝐫𝐠𝐢𝐧 𝐄𝐟𝐟𝐢𝐜𝐢𝐞𝐧𝐜𝐲 [NEW] A severe contradiction exists between the positive volume narrative and the bottom line. Management admitted that accelerated growth actively hurt immediate margins, widening the Adjusted EBITDA loss to $10.2M. The company is relying on temporary workforce incentives and an increased pace of hiring to fill capacity gaps, proving the model currently lacks true scalability. 🔴 𝐂𝐚𝐬𝐡 𝐁𝐮𝐫𝐧 𝐒𝐞𝐯𝐞𝐫𝐞𝐥𝐲 𝐓𝐢𝐠𝐡𝐭𝐞𝐧𝐢𝐧𝐠 𝐑𝐮𝐧𝐰𝐚𝐲 Total cash and cash equivalents are Decelerating rapidly, falling to $59.9M from $68.3M at the end of 2025 (and down from $103M in 25Q1). While management cited post-quarter collections of lingering migrant receivables, the structural cash burn from operations puts immense pressure on their ability to self-fund until the projected H2 profitability turn. 🔴 𝐌𝐚𝐜𝐫𝐨 𝐏𝐫𝐞𝐬𝐬𝐮𝐫𝐞𝐬 𝐈𝐦𝐩𝐚𝐜𝐭𝐢𝐧𝐠 𝐅𝐥𝐞𝐞𝐭 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐜𝐬 [NEW] CFO Norm Rosenberg explicitly pointed to a meaningful negative impact from rising fuel prices, attributed to the war in the Middle East. For a company heavily reliant on a vast ambulance and mobile health vehicle fleet, this uncontrollable macro headwind directly compresses gross margins in the transportation segment. ⚪ 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐀𝐥𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐯𝐞𝐬 𝐏𝐫𝐨𝐜𝐞𝐬𝐬 𝐋𝐨𝐨𝐦𝐢𝐧𝐠 The Board's ongoing 'strategic alternatives' process continues. The appointment of Michael Burdiek as incoming Board Chair and the creation of an operational review subcommittee suggests an intensified push to aggressively cut costs to make the company a more attractive acquisition target. 𝐎𝐭𝐡𝐞𝐫 𝐊𝐏𝐈𝐬 𝐀𝐝𝐣𝐮𝐬𝐭𝐞𝐝 𝐆𝐫𝐨𝐬𝐬 𝐌𝐚𝐫𝐠𝐢𝐧: 31.6% Decelerating slightly from 32.1% in Q1 2025. Margin deterioration was primarily driven by higher labor and fuel costs, offsetting the positive mix shift away from lower-margin migrant contracts. 𝐇𝐞𝐚𝐥𝐭𝐡𝐜𝐚𝐫𝐞 𝐚𝐭 𝐀𝐧𝐲 𝐀𝐝𝐝𝐫𝐞𝐬𝐬 𝐑𝐞𝐯𝐞𝐧𝐮𝐞: $17.4 million Accelerating sequentially by 36% from $12.8 million in 25Q4. This metric bundles care gap closures, remote patient monitoring, and mobile phlebotomy, representing the core growth engine for future higher-margin services. 𝐆𝐮𝐢𝐝𝐚𝐧𝐜𝐞 𝐅𝐘𝟐𝟔 𝐓𝐨𝐭𝐚𝐥 𝐑𝐞𝐯𝐞𝐧𝐮𝐞: $300 - $315 million Accelerating compared to prior guidance of $290 - $310M. This implies roughly flat YoY performance relative to FY25's $322M, but adjusting for the loss of $68M in migrant revenue from last year, it requires core base business growth approaching 20%. 𝐅𝐘𝟐𝟔 𝐀𝐝𝐣𝐮𝐬𝐭𝐞𝐝 𝐄𝐁𝐈𝐓𝐃𝐀: Loss of $5 - $10 million Stable compared to prior guidance. However, because the company already posted a $10.2M loss in Q1 alone, achieving this full-year target mathematically requires a Reversing trend to significant positive EBITDA generation in the back half of the year. This represents immense execution risk. 𝐊𝐞𝐲 𝐐𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬 𝐄𝐁𝐈𝐓𝐃𝐀 𝐌𝐚𝐭𝐡 𝐟𝐨𝐫 𝐅𝐘𝟐𝟔 With a $10.2M Adjusted EBITDA loss already incurred in Q1, achieving the full-year target of ($5M) to ($10M) implies aggressive profitability in H2. How much of this improvement relies on unproven SG&A cost cuts versus natural margin expansion? 𝐂𝐚𝐬𝐡 𝐑𝐮𝐧𝐰𝐚𝐲 𝐚𝐧𝐝 𝐋𝐢𝐪𝐮𝐢𝐝𝐢𝐭𝐲 Cash has depleted to $59.9M. Can you quantify the specific amount of final migrant-related receivables collected subsequent to quarter-end, and what is the projected lowest cash trough before achieving positive operating cash flow? 𝐇𝐢𝐫𝐢𝐧𝐠 𝐈𝐧𝐞𝐟𝐟𝐢𝐜𝐢𝐞𝐧𝐜𝐢𝐞𝐬 You cited the use of incentives to bridge staffing gaps as new full-time hires enter the field. What is the expected duration of this 'margin inefficiency' phase, and when will staffing levels normalize to support your double-digit margin targets?

$DCGO DocGo Q1 2026 earnings — beat on revenue, missed on earnings. Adj. EPS -$0.15 vs -$0.09 last year — losses deepening Revenue $75.6M vs $96M last year — down 21% year over year, beat estimates Revenue is shrinking fast — the end of large government contracts is hitting the top line hard. Losses are widening at the same time. Not financial advice

🪙 US Penny Stocks Below $1 — Top Gainers | Mar 17, 2026 $LNAI | Lunai Bioworks: $0.53 ( 148.70%) $UCAR | U Power Limited: $0.65 ( 46.21%) $OCG | Oriental Culture Holding LTD: $0.98 ( 24.71%) $IVDA | Iveda Solutions: $0.37 ( 20.33%) $CAPT | Captivision: $0.47 ( 18.89%) $PSQH | PSQ: $0.76 ( 17.64%) $RETO | ReTo Eco-Solutions: $0.64 ( 16.70%) $GETY | Getty Images: $0.89 ( 16.51%) $DCGO | DocGo: $0.75 ( 15.14%) $INLF | INLIF LIMITED: $0.37 ( 15.08%) $AIOS | AIOS Tech: $0.82 ( 13.80%) $JTAI | Jet.AI: $0.11 ( 13.35%) $UK | Ucommune International Ltd: $0.59 ( 12.52%) $PDSB | PDS Biotechnology: $0.71 ( 12.39%) $CENN | Cenntro: $0.12 ( 8.56%) #daytrading

$DCGO | DocGo maintained at Buy by Stifel while the firm cut its price target to $2.50 from $4.00, reflecting a more cautious outlook despite the rating.

📣 Earnings Spotlight Mar 16 📈Key Releases : 🌅 Before Open $DLTR Dollar Tree $CTMX CytomX Therapeutics $BTM Bitcoin Depot $WBI WaterBridge Infrastructure LLC $FPS Forgent Power Solutions $VNET VNET Group $LFCR Lifecore Biomedical $WW WW International 🌙 After Close $SMTC Semtech $KYNB Kyntra Bio $LIDR AEye $FINV FinVolution $CWCO Consolidated Water Co $BKKT Bakkt $DCGO DocGo $FF FutureFuel #Earnings

Today's Key Events (All EST) — 03/16/2026 All Day: Bessent Meets China's Lifeng 08:30: NY Fed Manufacturing 09:15: US Industrial Production MoM 10:00: US NAHB Housing Market Index 11:00: $NVDA GTC 2026 AI Keynote Before Open 👇 03:30: $VNET Group 05:00: KE Holdings $BEKE 06:00: Townsquare Media $TSQ 06:15: CytomX Therapeutics $CTMX 06:30: Dollar Tree $DLTR 07:00: Science Applications $SAIC 07:00: OPAL Fuels $OPAL 07:00: WW International $WW 07:30: Agenus $AGEN 07:30: Lifecore Biomedical $LFCR 08:00: Bitcoin Depot $BTM 09:00: Telos $TLS Before Open: FORGENT PWR SOLUTION $FPS Before Open: WaterBridge Infrastructure $WBI After Hours 👇 16:00: Natural Gas Services Group $NGS 16:05: Semtech $SMTC 16:05: Perspective Therapeutics $CATX 16:05: Comtech Telecommunications $CMTL 16:05: DocGo $DCGO 16:05: Getty Images $GETY 16:05: HF Foods Group $HFFG 16:05: TruBridge $TBRG 16:05: Dragonfly Energy Holdings $DFLI 16:10: PLBY Group $PLBY 16:15: Assertio Therapeutics $ASRT 16:15: Summit Midstream $SMC 16:15: Bally's $BALY 17:00: Microvast Holdings $MVST 17:00: Cango $CANG 17:30: Adecoagro $AGRO 19:00: Peraso $PRSO 19:00: Kyntra Bio $KYNB

📅 Monday, March 16, 2026 | ☕ Morning Briefing 🕒 All Times in ET ⸻ 🔎 Overview: Markets are starting the week on a positive note. U.S. futures are trading higher and the DAX is also pointing to a firmer open, while Asian markets delivered a mixed performance overnight. In commodities, oil prices are rising again with WTI near $99 and Brent above $105, while precious metals are pulling back slightly. Geopolitically, the Iran conflict and the situation around the Strait of Hormuz remain key risk factors for markets. Investors are also watching the start of NVIDIA’s GTC conference, which could provide important signals for the AI sector. ⸻ 📊 Economic Data / Macro: • No major U.S. economic data expected ⸻ 💰 Earnings Pre-Market: • $WBI WaterBridge Infrastructure – 1:00 AM • $FPS Forgent Power Solutions – 1:00 AM • $NIU Niu Technologies – 3:00 AM • $VNET VNET Group – 3:30 AM • $BEKE KE Holdings – 5:00 AM • $TSQ Townsquare Media – 6:00 AM • $CTMX CytomX Therapeutics – 6:15 AM • $DLTR Dollar Tree – 6:30 AM • $SAIC Science Applications International – 7:00 AM • $OPAL OPAL Fuels – 7:00 AM • $WW WW International – 7:00 AM • $AGEN Agenus – 7:30 AM • $LFCR Lifecore Biomedical – 7:30 AM • $TLS Telos Corporation – 9:00 AM • $BTM Bitcoin Depot – 8:00 AM ⸻ 💰 Earnings After-Market: • $SMTC Semtech – 4:05 PM • $PLBY PLBY Group – 4:10 PM • $CATX Perspective Therapeutics – 4:05 PM • $CMTL Comtech Telecommunications – 4:05 PM • $DCGO DocGo – 4:05 PM • $GETY Getty Images – 4:05 PM • $HFFG HF Foods Group – 4:05 PM • $TBRG TruBridge – 4:05 PM • $DFLI Dragonfly Energy – 4:05 PM • $ASRT Assertio Holdings – 4:15 PM • $SMC Summit Midstream – 4:15 PM • $BALY Bally’s – 4:15 PM • $MVST Microvast – 5:00 PM • $AGRO Adecoagro – 5:30 PM • $PRSO Peraso – After Close • $KYNB Kyntra Bio – After Close ⸻ 📈 Trading & Positioning: • Positive futures signal a constructive start to the week • Oil prices continue to rise amid geopolitical tensions • VIX slightly lower as risk sentiment stabilizes • Strong focus on the AI sector due to NVIDIA GTC ⸻ 📅 Events & Other: • Start of the four-day NVIDIA GTC Conference in San Jose – focus on AI infrastructure and chips • 2:00 PM 🧠 NVIDIA CEO Jensen Huang keynote – potential catalysts for $NVDA, $AMD, $TSM, $AVGO, $INTC • Okta AI Security Event (11:00 AM) – potential product announcements ($OKTA) • IPO / Lockup Watch: lockup expirations for $NTSK and $PTRN • Dividend Watch (Ex-Dividend): $AIG, $META, $MRK, $KSS • EU foreign ministers meeting in Brussels – discussions on Ukraine and Middle East conflicts ⸻ 📌 What Matters Today: Beyond ongoing geopolitical developments in the Middle East, investors will closely watch the NVIDIA GTC conference. Any announcements related to AI chips, data center demand, or next-generation AI infrastructure could move the broader semiconductor and technology sector. At the same time, the oil market remains sensitive to developments around the Strait of Hormuz, which continues to influence inflation expectations and overall market sentiment.

DocGo is hiring an Accounting Manager 💼 They’re looking for someone with a strong technical accounting skillset in ASC 606 and ASC 842 📊 Interested? Reply "INFO" and we'll send you the job listing 💬

$DCGO | DocGo will report Q4 and full year 2025 results after the close on Monday, March 16, 2026. Management will host a conference call and webcast at 5:00 p.m. ET.

This week, we’ve celebrated some of the teams who're building trust every day. @DocGoCares is one of them. 👏 Serving more than 1 million patients across 31 states, DocGo operates in an environment where security isn’t just important, it’s foundational. But as compliance and risk workflows became fragmented across tools, manual effort piled up and sales cycles slowed. Questionnaires alone were consuming 30–40 hours each. By centralizing security, risk, and customer trust in Vanta, DocGo saved 3–4 weeks per prospect, fast-tracked ISO 27001, and reclaimed critical time for higher-impact security initiatives. Most importantly, security shifted from being seen as overhead to being recognized as a business enabler. We're proud to spotlight the team behind that progress, and the real-world impact they’re making every day. Learn more about DocGo's journey: vanta.com/customers/docgo

NYC Council clashes with Mamdani official over no-bid contracts A heated showdown erupted as three City Council bills aimed at tightening oversight on no-bid emergency contracts advanced, despite pushback from Mayor Zohran Mamdani’s administration. These reforms target billions in emergency spending issued under previous mayors during the pandemic and migrant crisis, including a $432 MILLION contract with DocGo. Mamdani’s chief procurement officer, Kim Yu, argued that current rules are sufficient and that added requirements could slow urgent responses. When Yu suggested discussing concerns privately, Councilman Jim Gennaro fired back, insisting deliberations must remain public. The bills propose limits on emergency agreements, stricter renewal rules, increased subcontractor disclosures, and a public procurement database, all aimed at restoring fiscal accountability. The exchange highlights early friction between Mamdani’s administration and lawmakers as the Council pushes to rein in costly, opaque contracts that critics warn could drain taxpayer dollars. Even urgent city needs can’t excuse a lack of oversight, New Yorkers deserve accountability, not unseemly secrecy. nypost.com/2026/01/27/us-new…

Oh I get it, Zohran will audit the organizations that had government contracts like DocGo but aren’t “in network.” From now on, he’ll make sure the contracts only go to open societies-WFP-Meg Barnette affiliated vendors to make sure they get their cut. Mob shakedown style. 👍

Ambulnz aka DocGo is hiring in NYC. $26 an hour for a 'pilot program'.

Need to add DOCGO in NYS - they recieved massive amounts of $$$$ to run Covid clinics and med clinics for illegals in NYS … Go listen to

Over the term, we’ve issued 120 audits that helped the City save billions of $, restructure NYC Ferry, better catch ghost plate cheats, involved NYCHA residents in oversight, exposed DocGo, and much more. Props to our Audit Bureau on profound impact. comptroller.nyc.gov/reports/…

$DCGO .86--DocGo Inc...small starter...T/S

Brad Lander audited HPD’s handling of #DOCGO and found massive oversight failures and unsupported payments. That is his record. Supporting COPA means asking the public to trust an agency his own office documented as mismanaged!! Millions gone, and now he says to trust HPD ?

Loneliness has become one of the greatest silent threats to health in our time. It raises anxiety, fuels depression, and shortens lives and solving it will require innovation, compassion, and new care models. Dr. Sala Webb, a member of DocGo’s Medical Advisory Board, shares an insightful perspective on how AI and remote monitoring could create meaningful daily touchpoints for patients, giving clinicians richer context and helping people feel more connected. At DocGo, we believe technology can be humanizing when used thoughtfully. pulse.ly/xe5iso1i1f