DocGo falls after cutting 2024 revenue forecast

DocGo

09/05/2024 15:55

(Updates)
    ** Healthcare services provider DocGo's  DCGO.O  shares fall
11.7% to $3.09
    ** Company lowers 2024 revenue forecast to between $600 mln
and $650 mln vs previous forecast of $720 mln-$750 mln
    ** DocGo's previously expected wind down of its
migrant-related services has been accelerated
    ** Company's shares have been under pressure in past few
months amid media reports of the New York City comptroller's
office rejecting DocGo's migrant services contract with the city
    ** Company reports Q1 revenue of $192.1 mln vs est $187.9
mln - LSEG
    ** Including session's move, stock down ~45% YTD

 (Reporting by Christy Santhosh)
 ((Christy.Santhosh@thomsonreuters.com))