The raised revenue guidance signals accelerating core business momentum, but widening losses and cash burn keep the stock in a high-risk, high-reward range. The ongoing strategic alternatives process (potential sale/restructuring) is the primary catalyst. Monitor for updates on the strategic review and Q2 margin trends.
Price Chart
Executive Summary
DocGo reported Q1 2026 revenue of $75.6M, down 21.3% YoY from $96.0M due to the wind-down of migrant-related programs (zero revenue in Q1 2026 vs $35.0M in Q1 2025). Excluding migrant programs, core revenue grew 19.3% YoY to $75.6M. Net loss widened to $16.7M from $11.1M, and adjusted EBITDA loss deepened to $10.2M from $3.9M. The company raised its full-year 2026 revenue guidance to $300-$315M (from $290-$310M) but maintained its adjusted EBITDA loss guidance of ($5)-($10)M. The strategic alternatives process remains ongoing.
Key Financial Metrics
Key Facts
- Q1 2026 revenue $75.6M vs $96.0M YoY (-21.3%); ex-migrant revenue +19.3% to $75.6M
- GAAP net loss $16.7M vs $11.1M YoY; adjusted EBITDA loss $10.2M vs $3.9M YoY
- Full-year 2026 revenue guidance raised to $300-$315M from $290-$310M
- Full-year 2026 adjusted EBITDA guidance unchanged at ($5)-($10)M
- Cash and investments $59.9M at March 31, 2026, down from $68.3M at Dec 31, 2025
- Strategic alternatives process ongoing
- Medical Transportation revenue $51.9M (+2.2% YoY); Mobile Health ex-migrant +131% to $23.6M
- Healthcare-at-any-address revenue grew 36% sequentially to $17.4M
Financial Impact
Revenue miss of $3.2M vs $72.4M consensus; EPS miss of $0.13 vs $-0.02 consensus
Risk Factors
- Cash burn continues; cash declined $8.4M in Q1 2026
- Adjusted EBITDA losses widening despite revenue guidance raise
- Strategic alternatives process may not result in favorable outcome
- Fuel price headwinds and hiring costs pressuring margins
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001822359-26-000020 |
| Exhibit: ex-992xq126xnonxgaap.htm | 0001822359-26-000020 |
| Document: dcgo-20260511.htm | 0001822359-26-000020 |
| Document: 0001822359-26-000020-index-headers.html | 0001822359-26-000020 |
| Document: 0001822359-26-000020-index.html | 0001822359-26-000020 |
| Document: 0001822359-26-000020.txt | 0001822359-26-000020 |
| 8-K Data (Synthetic) | 0001822359-26-000020 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 5, 2026 21d ago | 8-K | $0.3650 | awaiting T+20 | — | $0.2850 (−21.92%) |
Sep 22, 2026 4w ago | Institutional Cluster | $0.3583 $0.2591 | ▲ +27.69% | ▲ +27.13% | $0.2850 (+20.46%) |
May 11, 2026 24w ago | 8-K | $0.5950 $0.5560 | ▼ −6.55% | ▼ −4.83% | $0.2850 (−52.10%) |
Apr 22, 2026 26w ago | DEFA14A | $0.6880 $0.6140 | ▼ −10.76% | ▼ −15.39% | $0.2850 (−58.58%) |
Apr 21, 2026 26w ago | 8-K | $0.7360 $0.5670 | ▼ −22.96% | ▼ −26.13% | $0.2850 (−61.28%) |
Feb 28, 2026 34w ago | Institutional Cluster | $0.6900 $0.6000 | ▼ −13.04% | ▼ −5.11% | $0.2850 (−58.70%) |
US Market Status
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