Mobile healthcare provider DocGo's Q2 revenue misses on wind-down of migrant programs

DocGo

17/08/2026 21:30

Overview
US mobile health and medical transport provider's Q2 revenue declined, missing analyst expectations
Company signed definitive deal to acquire virtual care provider Hicuity Health

Outlook
DocGo narrows full-year 2026 revenue guidance to $305-$310 mln, excluding Hicuity Health acquisition
Company lowers 2026 adjusted EBITDA outlook to ($17)-($22) mln from prior ($5)-($10) mln
DocGo expects to exit 2026 at a profitable adjusted EBITDA run rate

Result Drivers
MIGRANT PROGRAM WIND-DOWN - Co said Q2 revenue decline was entirely due to wind-down of migrant-related programs, which generated zero revenue in Q2 2026 compared to $18.8 mln in Q2 2025
CORE BUSINESS GROWTH - Excluding migrant-related programs, revenue increased 19% year over year, driven by organic growth and SteadyMD contributions
RECORD VOLUMES - Co achieved record volumes across all major business lines, including US medical transportation, healthcare in the home, mobile phlebotomy, cardiac and remote patient monitoring, and virtual care & lab orders

Company press release: ID:nBw85SZtLa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Miss
$73.40 mln
$75.40 mln (5 Analysts)
Q2 Loss Per Share
 
$0.16
 
Q2 Adjusted EBITDA
 
-$6.30 mln
 
Q2 Gross Margin
 
26.90%
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "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 $1.75, about 162.2% above its August 14 closing price of $0.67

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(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.)