DocGo raises 2026 revenue outlook despite Q1 revenue decline

DocGo

11/05/2026 21:23

Overview

US mobile health provider's Q1 revenue fell yr/yr but beat analyst expectations

Q1 adjusted EBITDA missed analyst expectations

Company raised 2026 revenue guidance on strong virtual care demand

Outlook

DocGo raises 2026 revenue guidance to $300-$315 mln from prior $290-$310 mln

Company maintains 2026 adjusted EBITDA guidance at ($5-$10) mln

DocGo expects adjusted EBITDA profitability in the second half of 2026

Result Drivers

MIGRANT PROGRAM WIND-DOWN - Revenue decline attributed entirely to the end of migrant-related programs, which generated zero revenue in Q1 2026 versus $35 mln a year ago

VIRTUAL CARE AND CORE BUSINESS GROWTH - Excluding migrant-related programs, revenue rose 19% yr/yr, driven by organic growth and contributions from SteadyMD

MARGIN PRESSURE - Margin inefficiency resulted from increased hiring, workforce incentives, and higher fuel prices, which management views as temporary

Company press release: ID:nBwBjBlVa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$75.60 mln
$72.43 mln (6 Analysts)
Q1 Net Income
-$16.70 mln
Q1 Adjusted EBITDA
Miss
-$10.20 mln
-$6.34 mln (6 Analysts)
Q1 Gross Margin
28.10%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the healthcare facilities & services peer group is "buy"

Wall Street's median 12-month price target for DocGo Inc is $2.50, about 338.4% above its May 8 closing price of $0.57

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)