DocGo, Inc. (DCGO)
NASDAQ:DCGO
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DocGo
(NASDAQ:DCGO)
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Rating:44Neutral
Price Target:
$0.57
▼(-12.46% Downside)
Action:Reiterated
Date:05/14/26
The score is held down primarily by sharply weakened financial performance—deepening losses and severe TTM 2026 cash burn—alongside weak technical trends. Offsetting factors include improved 2026 revenue outlook and operational volume momentum from the earnings call, plus governance actions aimed at cost reduction, but profitability and cash stability remain the key risks.
Positive Factors
Revenue Momentum & Guidance
Management raised full‑year 2026 revenue guidance and reported record volumes, signalling sustainable demand across services. A multi‑quarter revenue trajectory backed by contract renewals and organic expansion supports durable top‑line growth if execution on volume and collections persists.
Negative Factors
Severe Cash Burn
Trailing‑12‑month cash flow collapsed to large negative operating and free cash flow, creating a tangible liquidity risk. If cash burn persists, the company may need external financing or deeper cost actions, which could dilute shareholders or constrain investment in growth initiatives.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Momentum & Guidance
Management raised full‑year 2026 revenue guidance and reported record volumes, signalling sustainable demand across services. A multi‑quarter revenue trajectory backed by contract renewals and organic expansion supports durable top‑line growth if execution on volume and collections persists.
Read all positive factors
DocGo (DCGO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$59.43M
Dividend YieldN/A
Average Volume (3M)847.53K
Price to Earnings (P/E)―
Beta (1Y)1.34
Revenue Growth-42.03%
EPS Growth-28904.55%
CountryUS
Employees3,404
SectorHealthcare
Sector Strength45
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)-1.91
Shares Outstanding98,778,410
10 Day Avg. Volume587,015
30 Day Avg. Volume847,526
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.60
Price to Sales (P/S)0.27
P/FCF Ratio3.22
Enterprise Value/Market Cap0.93
Enterprise Value/Revenue0.18
Enterprise Value/Gross Profit0.62
Enterprise Value/Ebitda-0.69
Forecast
1Y Price Target
$2.38Price Target Upside265.38% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering5
EPS Forecast (FY)-0.33
Revenue Forecast (FY)$298.67M
DocGo Business Overview & Revenue Model
Company Description
DocGo, Inc. provides mobile health and medical transportation services for various health care providers in the United States and the United Kingdom. The company's transportation services include emergency response services; and non-emergency tran...
How the Company Makes Money
DocGo primarily makes money by providing contracted healthcare services and medical transportation services to institutional customers. Key revenue streams include: (1) Medical Transportation Services: revenue from providing non-emergency (and rel...
DocGo Earnings Call Summary
Earnings Call Date:May 11, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 10, 2026
Earnings Call Sentiment Neutral
The call presented a mix of strong top‑line momentum and operational wins (raised full‑year revenue outlook, record volumes, SteadyMD acceleration, mobile phlebotomy and care‑gap scale) balanced against meaningful near‑term profitability and cash challenges (wider adjusted EBITDA loss, margin headwinds from fuel and temporary labor incentives, and $13M of outstanding receivables). Management expects many of the margin and expense pressures to be temporary and the majority of cost savings to flow through by Q3, while growth initiatives and contract renewals support the updated revenue guidance.Positive Updates
Revenue Growth Excluding Migrant Programs
Reported Q1 2026 revenue of $75.6M (vs. $96.0M in Q1 2025). The year‑over‑year decline was driven by wind‑down of migrant projects; removing migrant revenues, Q1 revenue increased ~24% YoY. After adjusting for both migrant revenues (2025) and SteadyMD (2026), underlying revenues still rose ~8% YoY.
Negative Updates
Wider Adjusted EBITDA Loss
Adjusted EBITDA loss of $10.2M in Q1 2026 versus an adjusted EBITDA loss of $3.9M in Q1 2025, reflecting higher near‑term operating costs tied to rapid growth (hiring/onboarding) and other timing factors.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue Growth Excluding Migrant Programs
Reported Q1 2026 revenue of $75.6M (vs. $96.0M in Q1 2025). The year‑over‑year decline was driven by wind‑down of migrant projects; removing migrant revenues, Q1 revenue increased ~24% YoY. After adjusting for both migrant revenues (2025) and SteadyMD (2026), underlying revenues still rose ~8% YoY.
Read all positive updates
Company Guidance
DocGo raised its 2026 revenue outlook to roughly $300–$315 million (Norm alternatively cited $310–$315M), implying about 19%–25% growth over 2025 and expressly excluding migrant-related revenues, while keeping full‑year adjusted EBITDA guidance unchanged at a loss of $5–$10 million. In Q1 the company reported $75.6 million of revenue, an adjusted EBITDA loss of $10.2 million and an adjusted gross margin of 31.6% (Medical Transportation 31.9%, Mobile Health 31.0%); SteadyMD contributed roughly $9–9.5 million in Q1 (implying a ~ $34–36M run‑rate), Mobile Health revenue was $23.6M and Medical Transportation was $51.9M. Cash at March 31 was $59.9M (down from $68.3M); the company collected ~ $8M of receivables on April 1 with about $13M remaining; management flagged margin headwinds from higher fuel (avg ~$3.69/gal in March, ~ $4.00 more recently) and short‑term labor costs but expects SG&A and margins to improve in H2, targets mobile phlebotomy growth up to 75% in 2026 and plans to ramp home visits from ~600/day to ~900/day by year‑end.DocGo Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
58
Neutral
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 301.71M | 322.20M | 616.56M | 624.29M | 440.52M | 318.72M |
| Gross Profit | 89.15M | 98.76M | 213.57M | 195.38M | 154.72M | 109.75M |
| EBITDA | -79.32M | -73.50M | 45.56M | 31.49M | 32.40M | 28.07M |
| Net Income | -187.76M | -182.40M | 19.99M | 6.86M | 34.58M | 23.74M |
Balance Sheet | ||||||
| Total Assets | 209.23M | 217.10M | 455.62M | 490.45M | 393.28M | 309.60M |
| Cash, Cash Equivalents and Short-Term Investments | 35.68M | 51.02M | 89.24M | 59.29M | 157.34M | 175.54M |
| Total Debt | 28.51M | 29.18M | 57.19M | 46.50M | 19.91M | 16.51M |
| Total Liabilities | 98.02M | 91.23M | 140.44M | 185.28M | 114.35M | 82.55M |
| Stockholders Equity | 132.31M | 144.01M | 320.92M | 300.79M | 273.23M | 219.58M |
Cash Flow | ||||||
| Free Cash Flow | -5.09T | 27.02M | 64.50M | -74.35M | 23.37M | -8.60M |
| Operating Cash Flow | -4.66T | 34.45M | 70.34M | -64.22M | 28.87M | -1.95M |
| Investing Cash Flow | 1.66T | -39.08M | -10.87M | -29.88M | -38.45M | -8.59M |
| Financing Cash Flow | -2.46T | -50.82M | -24.15M | 1.12M | -6.18M | 155.21M |
DocGo Technical Analysis
Positive
0.65
Price Trends
0.63
Positive
0.71
Negative
0.98
Negative
Market Momentum
-0.01
Positive
51.66
Neutral
76.23
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DCGO, the sentiment is Positive. The current price of 0.65 is above the 20-day moving average (MA) of 0.63, above the 50-day MA of 0.63, and below the 200-day MA of 0.98, indicating a neutral trend. The MACD of -0.01 indicates Positive momentum. The RSI at 51.66 is Neutral, neither overbought nor oversold. The STOCH value of 76.23 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DCGO.
DocGo Risk Analysis
DocGo disclosed 72 risk factors in its most recent earnings report. DocGo reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
DocGo Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $869.39M | -34.59 | 1.03% | ― | 22.64% | -58.05% | |
62 Neutral | $994.86M | 2.87 | -4.98% | ― | 19.87% | 79.93% | |
59 Neutral | $100.31M | 2.07 | 184.97% | ― | -0.87% | 10.51% | |
58 Neutral | $77.79M | 4.54 | -22.91% | ― | -5.63% | -29.34% | |
56 Neutral | $1.34B | 1.10 | -146.01% | ― | -2.82% | -45.70% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
44 Neutral | $59.43M | -1.05 | -88.97% | ― | -42.03% | -28904.55% |
* Healthcare Sector Average
DCGO
DocGo
0.63
-0.71
-52.99%
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PIII
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BTMD
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-51.23%
DocGo Corporate Events
Business Operations and StrategyExecutive/Board Changes
DocGo Forms Special Board Committee to Drive Profitability
Positive
Apr 22, 2026
On April 17, 2026, DocGo said board member Stephen K. Klasko will step down from the board and all related committee roles following the June 16, 2026 annual shareholder meeting after accepting a new healthcare leadership position, with the compan...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.