Latest news with #DocGo
Globe and Mail
6 days ago
- Business
- Globe and Mail
DocGo (DCGO) Q2 Revenue Falls 51%
Key Points Revenue (GAAP) of $80.4 million beat analyst estimates by 3.6% in Q2 2025 but was down 51.2% year-over-year (GAAP) in Q2 2025, reflecting the planned wind-down of high-margin government contracts. Net loss (GAAP) reached $13.3 million in Q2 2025, with adjusted EBITDA turned negative at $(6.1 million) in Q2 2025 as profitability and margins compressed during the business reset. Management reiterated full-year guidance and reported operating cash flow of $33.6 million in the second quarter of 2025 and an increased cash balance as of the end of Q2 2025, highlighting progress in cost control and strategic shift toward payer/provider and transportation business. These 10 stocks could mint the next wave of millionaires › DocGo (NASDAQ:DCGO), a company specializing in technology-enabled mobile health services and medical transportation, released its second quarter 2025 earnings report on August 7, 2025. The headline news was a marked year-over-year revenue drop, driven by the planned exit from high-margin government and migrant service contracts. Revenue (GAAP) was $80.4 million in Q2 2025, surpassing the consensus GAAP estimate of $77.6 million, while the bottom-line result was a net loss of $13.3 million (GAAP), yielding a loss per share of $(0.11) (GAAP) compared to the expected $(0.10) EPS. Overall, margins and profitability declined as the business transitioned toward more stable but lower-margin segments. Despite these challenges, management reaffirmed its full-year guidance, underscoring efforts to ramp up transportation and payer/provider partnerships, and reported an increase in cash balances to $128.7 million as of Q2 2025, up from $103.1 million at the end of Q1 2025 as receivables continued to be collected. Source: Analyst estimates provided by FactSet. Management expectations based on management's guidance, as provided in Q1 2025 earnings report. About DocGo and Its Business Focus DocGo operates in the healthcare sector, delivering on-demand mobile health services, including in-home care and paramedic support, as well as non-emergency medical transportation. The company's platform combines technology, healthcare providers, and logistics to deliver care at patients' locations, streamlining healthcare access and cost. In recent years, DocGo relied heavily on large government and migrant-related contracts, which contributed high-margin, short-term revenue. With these winding down, DocGo's focus shifted to building out longer-term partnerships with health insurance payers and healthcare providers, and to expanding its transportation service contracts. Success in these areas will depend on the company's ability to scale up new business verticals, improve efficiency using its technology platform, and maintain compliance with complex healthcare regulations. Quarterly Review: Key Developments and Trends DocGo's second quarter results reflected a transitional phase. Total revenue (GAAP) fell 51.2% year over year, outpacing analyst estimates for GAAP revenue yet sharply down from Q2 2024 (Q2 2025 revenue was $80.4 million GAAP, compared to $164.9 million GAAP in Q2 2024), due largely to the wind-down of government and migrant services. Management explained, 'This decline was due to the planned wind-down of migrant-related programs.' The company had flagged this shift in previous guidance updates, removing government population health from its core outlook and resetting 2025 targets accordingly. Profitability suffered as the business mix changed. Adjusted EBITDA was negative at $(6.1 million), down from $17.2 million in adjusted EBITDA in Q2 2024, and the company posted a GAAP net loss of $13.3 million. Adjusted gross margin fell to 31.6%, compared to 33.9% (adjusted, non-GAAP) in Q2 2024. The company's cash flow from operations remained strong, generating $33.6 million, slightly below last year's figure but up from the first quarter of 2025. Cash and equivalents rose to $128.7 million as of the end of Q2 2025, helped by successful collection of legacy receivables from government contracts. Accounts receivable related to migrant work declined but remained sizable, standing at approximately $54 million as of the end of Q2 2025, which management expects to collect through year-end. Within business lines, transportation services proved most stable. Segment revenue was $49.6 million, up modestly compared to $48.2 million in Q2 2024, and management cited contract expansions, including a multi-year partnership with a leading New York academic medical system, with services launched after Q2 2025. This contract, supported by DocGo's software-as-a-service (SaaS) transportation management platform, is expected to boost trip volumes in the back half of the year. The mobile health segment—comprising in-home visits and payer/provider partnerships—generated $30.8 million in revenue, a steep drop from last year, as GAAP revenue declined from $164.9 million in Q2 2024 to $80.4 million. However, DocGo highlighted momentum in this segment's core activities: the number of patients assigned for care gap closure services rose from 900,000 in Q1 2025 to over 1.2 million, driven by new and expanded insurance partnerships. The company completed more in-home visits in the first half of 2025 than in all of 2024. Execution in payer/provider services remains a key investment area, with profitability expected to improve as scale increases and operational efficiencies are realized. SG&A (selling, general, and administrative) expenses continued to weigh on margins during this transition, but management initiated cost cuts and repurchased 2.5 million shares, making cuts to corporate overhead, resulting in an estimated $10 million in annual savings. Workforce reductions and further expense control measures are planned for the remainder of the year, aiming to support profitability in the longer term. Looking Ahead: Guidance and Risk Areas Management maintained 2025 revenue guidance at $300 million to $330 million, unchanged from the previous update. Adjusted EBITDA is still forecasted to be a loss in the range of $20 million to $30 million for the full year 2025. With another dip expected in Q3, and Q4 projected to be higher than Q3 but still below Q2 levels. The company aims for overall profitability by the second half of 2026, even without the contribution of new government contracts. Key watchpoints for the coming quarters include the pace at which DocGo can grow its payer/provider vertical, the ability to ramp margins in both mobile health and transportation, timely collection of outstanding receivables, and further reductions in SG&A costs. Any new government revenue or contract wins will be treated as additive and not factored into the current guidance. Management emphasized ongoing focus on technology upgrades, compliance, and operational scalability as critical for the next phase of business growth. Revenue and net income presented using U.S. generally accepted accounting principles (GAAP) unless otherwise noted. Where to invest $1,000 right now When our analyst team has a stock tip, it can pay to listen. After all, Stock Advisor's total average return is 1,046%* — a market-crushing outperformance compared to 181% for the S&P 500. They just revealed what they believe are the 10 best stocks for investors to buy right now, available when you join Stock Advisor. See the stocks » *Stock Advisor returns as of August 4, 2025
Associated Press
06-08-2025
- Business
- Associated Press
DocGo to Provide Digital Transportation Management Platform, Dedicated Ambulance Service to Major New York Health System
NEW YORK--(BUSINESS WIRE)--Aug 6, 2025-- DocGo Inc. (Nasdaq: DCGO) ('DocGo' or the 'Company'), a leading provider of technology-enabled mobile health and medical transportation services, today announced a new contract with one of the largest academic medical systems in the New York metro area. Through this contract, DocGo's dispatchers located within the health system's discharge management office will use DocGo's proprietary transportation management software for centralized management of all discharges across the health system. Through its Ambulnz brand, DocGo will also provide dedicated basic life support (BLS) ambulance services at select facilities. 'The consolidated, centralized transportation data offered by DocGo's software platform is the foundation for quality improvement initiatives on patient throughput, transportation timeliness and other key metrics,' said DocGo CEO Lee Bienstock. 'We've been working on this partnership for months, and we are gratified to see DocGo's technology suite and medical transportation services helping enhance patient flow and drive satisfaction through timely transport and greater visibility into exactly when transportation will arrive.' Transportation services commenced in July and will ramp up over the balance of the quarter. DocGo's proprietary ordering, dispatch and transportation management platform will coordinate all discharge transportation and all transportation vendors. Integrated with the health system's electronic health record, facility staff order transportation directly from the patient chart with patient demographics and insurance information automatically pulled from the patient record. DocGo's ordering platform also consolidates data from all transportation vendors into a single data warehouse, enabling unified reporting, enhanced analytics and actionable insights. About DocGo DocGo is leading the proactive healthcare revolution with an innovative care delivery platform that includes mobile health services, remote patient monitoring and ambulance services. DocGo is helping to reshape the traditional four-wall healthcare system by providing high quality, highly accessible care to patients where and when they need it. DocGo's proprietary technology and relationships with a dedicated field staff of certified health professionals elevate the quality of patient care and drive business efficiencies for facilities, hospital networks and health insurance providers. With Mobile Health, DocGo empowers the full promise and potential of telehealth by facilitating healthcare treatment, in tandem with a remote physician, in the comfort of a patient's home or workplace. Together with DocGo's integrated Ambulnz medical transport services, DocGo is bridging the gap between physical and virtual care. For more information, please visit To get an inside look on how the proactive healthcare revolution is helping transform healthcare by reducing costs, increasing efficiency and improving outcomes, visit Forward-Looking Statements This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, the Company's plans, strategies, outcomes, and prospects, both business and financial, including the Company's provision of services and further growth in New York. These statements are based on the beliefs and assumptions of the Company's management. Although the Company believes that its plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, the Company cannot assure you that it will achieve or realize these plans, intentions, outcomes, results or expectations. Accordingly, you should not place undue reliance on such statements. All statements other than statements of historical fact are forward-looking. In some cases, these statements may be preceded by, followed by or include the words 'believes,' 'estimates,' 'expects,' 'projects,' 'forecasts,' 'may,' 'might,' 'will,' 'should,' 'could,' 'can,' 'would,' 'design,' 'potential,' 'seeks,' 'plans,' 'scheduled,' 'anticipates,' 'intends' or the negative of these terms or similar expressions. Forward-looking statements are inherently subject to substantial risks, uncertainties and assumptions, many of which are beyond the Company's control, and which may cause the Company's actual results or outcomes, or the timing of results or outcomes, to differ materially from those contained in the Company's forward-looking statements, including, but not limited to the following: the Company's ability to successfully implement its business strategy, including with respect to the provision of services in New York; the Company's reliance on and ability to maintain its contractual relationships with its healthcare provider partners and clients; the Company's ability to compete effectively in a highly competitive industry; the Company's ability to maintain existing contracts, including the contract to provide services in New York; the Company's reliance on government contracts; the Company's ability to effectively manage its growth; the Company's financial performance and future prospects; the Company's ability to deliver on its business strategies or models, plans and goals; the Company's ability to expand geographically; the Company's competitive position and opportunities, including its ability to realize the benefits from its operating model; and other risk factors included in the Company's filings with the Securities and Exchange Commission. The forward-looking statements made in this press release are based on events or circumstances as of the date on which the statements are made. The Company undertakes no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as and to the extent required by law. View source version on CONTACT: Investors: Mike Cole DocGo 949-444-1341 [email protected] [email protected] KEYWORD: UNITED STATES NORTH AMERICA NEW YORK INDUSTRY KEYWORD: DATA MANAGEMENT TECHNOLOGY OTHER HEALTH HEALTH OTHER TRANSPORT GENERAL HEALTH TRANSPORT HEALTH TECHNOLOGY SOFTWARE MOBILE/WIRELESS TELEMEDICINE/VIRTUAL MEDICINE SOURCE: DocGo Inc. Copyright Business Wire 2025. PUB: 08/06/2025 07:35 AM/DISC: 08/06/2025 07:35 AM
Business Wire
06-08-2025
- Business
- Business Wire
DocGo to Provide Digital Transportation Management Platform, Dedicated Ambulance Service to Major New York Health System
NEW YORK--(BUSINESS WIRE)--DocGo Inc. (Nasdaq: DCGO) ('DocGo' or the 'Company'), a leading provider of technology-enabled mobile health and medical transportation services, today announced a new contract with one of the largest academic medical systems in the New York metro area. Through this contract, DocGo's dispatchers located within the health system's discharge management office will use DocGo's proprietary transportation management software for centralized management of all discharges across the health system. Through its Ambulnz brand, DocGo will also provide dedicated basic life support (BLS) ambulance services at select facilities. 'The consolidated, centralized transportation data offered by DocGo's software platform is the foundation for quality improvement initiatives on patient throughput, transportation timeliness and other key metrics,' said DocGo CEO Lee Bienstock. 'We've been working on this partnership for months, and we are gratified to see DocGo's technology suite and medical transportation services helping enhance patient flow and drive satisfaction through timely transport and greater visibility into exactly when transportation will arrive.' Transportation services commenced in July and will ramp up over the balance of the quarter. DocGo's proprietary ordering, dispatch and transportation management platform will coordinate all discharge transportation and all transportation vendors. Integrated with the health system's electronic health record, facility staff order transportation directly from the patient chart with patient demographics and insurance information automatically pulled from the patient record. DocGo's ordering platform also consolidates data from all transportation vendors into a single data warehouse, enabling unified reporting, enhanced analytics and actionable insights. About DocGo DocGo is leading the proactive healthcare revolution with an innovative care delivery platform that includes mobile health services, remote patient monitoring and ambulance services. DocGo is helping to reshape the traditional four-wall healthcare system by providing high quality, highly accessible care to patients where and when they need it. DocGo's proprietary technology and relationships with a dedicated field staff of certified health professionals elevate the quality of patient care and drive business efficiencies for facilities, hospital networks and health insurance providers. With Mobile Health, DocGo empowers the full promise and potential of telehealth by facilitating healthcare treatment, in tandem with a remote physician, in the comfort of a patient's home or workplace. Together with DocGo's integrated Ambulnz medical transport services, DocGo is bridging the gap between physical and virtual care. For more information, please visit To get an inside look on how the proactive healthcare revolution is helping transform healthcare by reducing costs, increasing efficiency and improving outcomes, visit Forward-Looking Statements This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, the Company's plans, strategies, outcomes, and prospects, both business and financial, including the Company's provision of services and further growth in New York. These statements are based on the beliefs and assumptions of the Company's management. Although the Company believes that its plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, the Company cannot assure you that it will achieve or realize these plans, intentions, outcomes, results or expectations. Accordingly, you should not place undue reliance on such statements. All statements other than statements of historical fact are forward-looking. In some cases, these statements may be preceded by, followed by or include the words 'believes,' 'estimates,' 'expects,' 'projects,' 'forecasts,' 'may,' 'might,' 'will,' 'should,' 'could,' 'can,' 'would,' 'design,' 'potential,' 'seeks,' 'plans,' 'scheduled,' 'anticipates,' 'intends' or the negative of these terms or similar expressions. Forward-looking statements are inherently subject to substantial risks, uncertainties and assumptions, many of which are beyond the Company's control, and which may cause the Company's actual results or outcomes, or the timing of results or outcomes, to differ materially from those contained in the Company's forward-looking statements, including, but not limited to the following: the Company's ability to successfully implement its business strategy, including with respect to the provision of services in New York; the Company's reliance on and ability to maintain its contractual relationships with its healthcare provider partners and clients; the Company's ability to compete effectively in a highly competitive industry; the Company's ability to maintain existing contracts, including the contract to provide services in New York; the Company's reliance on government contracts; the Company's ability to effectively manage its growth; the Company's financial performance and future prospects; the Company's ability to deliver on its business strategies or models, plans and goals; the Company's ability to expand geographically; the Company's competitive position and opportunities, including its ability to realize the benefits from its operating model; and other risk factors included in the Company's filings with the Securities and Exchange Commission. The forward-looking statements made in this press release are based on events or circumstances as of the date on which the statements are made. The Company undertakes no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as and to the extent required by law.
Business Wire
31-07-2025
- Health
- Business Wire
DocGo Launches Mobile Health Vaccination Program for the County of San Diego
NEW YORK--(BUSINESS WIRE)--DocGo Inc. (Nasdaq: DCGO) ('DocGo' or the 'Company'), a leading provider of technology-enabled mobile health and medical transportation services, today announced that it secured a new contract to begin facilitating a range of community vaccination services for The County of San Diego, California. Designed to expand access to care for underserved populations in San Diego's East and North-Central neighborhoods, this comprehensive program will be held in coordination with the county, community organizations, trusted agencies and additional groups. Vaccinations will be offered at various locations including schools, houses of worship, public parks, neighborhood centers as well as in-home. A DocGo health worker will facilitate partnerships that drive community-level action in San Diego, promoting program awareness with the goal of improving equity in immunization uptake across populations disproportionality impacted by infectious disease. DocGo is already providing mobile health services on behalf of insurance payers in San Diego to help close gaps in care and bring much needed health services to people where they are, when they need it. This new program – DocGo's first with the County of San Diego – will also help ensure individuals who are disabled, frail or lack access to transportation have access to vital vaccination treatments. 'DocGo's expansion of mobile health services in San Diego illustrates our deep commitment to bringing high quality, highly accessible care to all,' said Lee Bienstock, CEO of DocGo. 'We look forward to providing both health education and the vaccines that can help children and adults thrive, helping improve neighborhood health.' This new partnership with the County of San Diego reinforces DocGo's mission to help eliminate barriers to care by delivering trusted healthcare services directly into communities. Through innovative mobile health programs that increase access for underserved populations, DocGo remains committed to creating healthier futures—one neighborhood at a time. About DocGo DocGo is leading the proactive healthcare revolution with an innovative care delivery platform that includes mobile health services, remote patient monitoring and ambulance services. DocGo is helping to reshape the traditional four-wall healthcare system by providing high quality, highly accessible care to patients where and when they need it. DocGo's proprietary technology and relationships with a dedicated field staff of certified health professionals elevate the quality of patient care and drive business efficiencies for facilities, hospital networks and health insurance providers. With Mobile Health, DocGo empowers the full promise and potential of telehealth by facilitating healthcare treatment, in tandem with a remote physician, in the comfort of a patient's home or workplace. Together with DocGo's integrated Ambulnz medical transport services, DocGo is bridging the gap between physical and virtual care. For more information, please visit To get an inside look on how the proactive healthcare revolution is helping transform healthcare by reducing costs, increasing efficiency and improving outcomes, visit Forward-Looking Statements This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, the Company's plans, strategies, outcomes, and prospects, both business and financial, including the Company's provision of services and further growth in San Diego and the benefits of such services. These statements are based on the beliefs and assumptions of the Company's management. Although the Company believes that its plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, the Company cannot assure you that it will achieve or realize these plans, intentions, outcomes, results or expectations. Accordingly, you should not place undue reliance on such statements. All statements other than statements of historical fact are forward-looking. In some cases, these statements may be preceded by, followed by or include the words 'believes,' 'estimates,' 'expects,' 'projects,' 'forecasts,' 'may,' 'might,' 'will,' 'should,' 'could,' 'can,' 'would,' 'design,' 'potential,' 'seeks,' 'plans,' 'scheduled,' 'anticipates,' 'intends' or the negative of these terms or similar expressions. Forward-looking statements are inherently subject to substantial risks, uncertainties and assumptions, many of which are beyond the Company's control, and which may cause the Company's actual results or outcomes, or the timing of results or outcomes, to differ materially from those contained in the Company's forward-looking statements, including, but not limited to the following: the Company's ability to successfully implement its business strategy, including with respect to the provision of services in San Diego; the Company's reliance on and ability to maintain its contractual relationships with its healthcare provider partners and clients; the Company's ability to compete effectively in a highly competitive industry; the Company's ability to maintain existing contracts, including the contract to provide services in San Diego; the Company's reliance on government contracts; the Company's ability to effectively manage its growth; the Company's financial performance and future prospects; the Company's ability to deliver on its business strategies or models, plans and goals; the Company's ability to expand geographically; the Company's competitive position and opportunities, including its ability to realize the benefits from its operating model; and other risk factors included in the Company's filings with the Securities and Exchange Commission. The forward-looking statements made in this press release are based on events or circumstances as of the date on which the statements are made. The Company undertakes no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as and to the extent required by law.
Business Wire
24-07-2025
- Business
- Business Wire
DocGo to Announce Second Quarter 2025 Results on Thursday, August 7, 2025
NEW YORK--(BUSINESS WIRE)-- DocGo Inc. (Nasdaq: DCGO) ('DocGo' or the 'Company'), a leading provider of technology-enabled mobile health and medical transportation services, announced today that the Company will release its financial results for the second quarter ended June 30, 2025 after the markets close on Thursday, August 7, 2025. Management will also host a conference call to discuss these results at 5:00 p.m. ET on that day. Conference call and webcast details: Thursday, August 7, 2025 5:00 p.m. ET 1-800-717-1738 (U.S.) 1-646-307-1865 (international) Conference ID: 75731 To access the Call me™ feature, which avoids the need to wait for an operator, click here. A webcast of the conference call can be accessed under Events on the Investors section of the Company's website at About DocGo DocGo is leading the proactive healthcare revolution with an innovative care delivery platform that includes mobile health services, remote patient monitoring and medical transport solutions. DocGo is helping to reshape the traditional four-wall healthcare system by providing high quality, highly accessible care to patients where and when they need it. DocGo's proprietary technology and relationships with a dedicated field staff of certified health professionals elevate the quality of patient care and drive business efficiencies for facilities, hospital networks and health insurance providers. With Mobile Health, DocGo empowers the full promise and potential of telehealth by facilitating healthcare treatment, in tandem with a remote physician, in the comfort of a patient's home or workplace. Together with DocGo's integrated Ambulnz medical transport services, DocGo is bridging the gap between physical and virtual care. For more information, please visit To get an inside look on how the proactive healthcare revolution is helping transform healthcare by reducing costs, increasing efficiency and improving outcomes, visit
