DocGo Inc.
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Range $1.5 – $11
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About the company
DocGo Inc. is a company dedicated to providing mobile healthcare solutions and medical transportation for a wide array of healthcare organizations in both the United States and the United Kingdom. Their transportation portfolio includes critical emergency response, alongside routine non-emergency transfers facilitated by ambulance and specialized wheelchair-accessible vehicles.
- CEO
- Lee Bienstock
- IPO
- 2020
- Employees
- 3,568
- HQ
- New York City, NY, US
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- Market Cap
- $42.51M
- P/E
- -0.22
- PEG
- -0.01
- P/S
- 0.14
- P/B
- 0.36
- EV/EBITDA
- -0.27
- Div Yield
- 0.00%
- Gross Margin
- 30.12%
- Op Margin
- -37.68%
- Net Margin
- -65.29%
- ROE
- -115.58%
- ROIC
- -89.44%
Latest fiscal year · YoY change
- Revenue
- $322.20M-47.7%
- Gross Profit
- $98.76M-53.8%
- Op Income
- $-89,157,159
- Net Income
- $-182,399,628-1012.4%
- EPS
- $-1.84-1020.0%
- OCF Growth
- -51.0%
- FCF Growth
- -58.1%
- 52W High
- $1.73
- 52W Low
- $0.40
- 50D MA
- $0.59
- 200D MA
- $0.73
- Beta
- 0.99
- RSI (14)
- 34
- Avg Volume
- 886.71K
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
DocGo said Q2 was a transitional quarter marked by a major acquisition announcement, record volumes in core businesses, and a wider-than-expected full-year EBITDA loss despite mostly unchanged revenue guidance.· August 17, 2026
- DocGo signed a definitive agreement to acquire Hicuity Health, its largest acquisition to date, and said the deal expands its virtual care and hospital-to-home platform.
- Q2 revenue was $73.4 million versus $80.4 million a year ago, with the decline tied entirely to the wind-down of migrant-related projects; excluding migrant revenue, revenue rose 19% year over year.
- Adjusted EBITDA loss was $6.3 million in Q2, about flat versus a $6.1 million loss last year, while adjusted gross margin was 30.5% versus 31.6%.
- Management said core volumes hit record levels, including U.S. medical transportation up 15%, healthcare in the home up 26%, mobile phlebotomy up 20%, cardiac and remote patient monitoring up 13%, and virtual care and lab orders up 58%.
- Full-year 2026 guidance was narrowed to $305 million-$310 million of revenue and widened to a $17 million-$22 million adjusted EBITDA loss, excluding any Hicuity contribution.
Second-quarter 2026 revenue was $73.4 million, down from $80.4 million in Q2 2025. Adjusted EBITDA was a loss of $6.3 million versus a loss of $6.1 million a year ago, and adjusted gross margin was 30.5% compared with 31.6% in the prior-year quarter. Management said revenue excluding migrant-related business rose 19% year over year, and excluding both migrant revenue and SteadyMD revenue, revenue still increased about 5% year over year. For full-year 2026, DocGo narrowed revenue guidance to $305 million-$310 million and widened adjusted EBITDA loss guidance to $17 million-$22 million; these ranges exclude Hicuity revenue. Management said it expects a positive adjusted EBITDA run rate exiting the year.
Lee Bienstock framed the quarter as transformational, pointing to the Hicuity acquisition, new financing, record volumes, and progress toward a combined tech-enabled care platform spanning hospital, home, and virtual settings. He emphasized cross-selling between hospital systems, virtual care, and in-home services, and said DocGo is building a differentiated “care anywhere” model. His tone was notably optimistic, saying he has “never been more excited” about the company’s future and expects the platform to be set up for a very strong 2027.
Norm Rosenberg focused on the financial bridge from Q2 to the updated outlook. He said gross margin was pressured by higher-than-planned field labor wages, fuel costs, and temporarily lower SteadyMD margins, but noted sequential improvement in overtime to about 8.1% and said transport fuel costs reduced consolidated gross margin by about 40 basis points. He also highlighted cost actions, including a reduction in force that cut annual SG&A by approximately $4.5 million, plus about $300,000 spent on recruiting outreach, and said total cash and cash equivalents including restricted cash and investments was $48.1 million at June 30, down from $59.9 million at March 31. He also pointed to Hicuity’s approximate $65 million of trailing-12-month revenue and $4.5 million of adjusted EBITDA, plus Perceptive’s commitment for up to $50 million of financing, as a balance-sheet reset that should support growth.
Analysts focused on Hicuity’s growth, customer overlap, closing risks, and how the deal could create cross-sell opportunities. Management said Hicuity’s hospital-system customer base overlaps meaningfully with DocGo’s transportation relationships, and that the combined company can offer virtual care plus in-home services such as mobile phlebotomy and transitional care; Norm said Hicuity is growing at roughly 10%-12% annually. Questions also centered on CMS’s proposed RPM reimbursement changes, and Lee said only about 2,000 RPM patients could be exposed while roughly 55,000 monitored patients are implantable cardiac device patients that he sees as largely unaffected. Management said the Hicuity close mainly depends on state regulatory approvals and some customer consents, which they do not view as major hurdles beyond timing.
The call’s positive case is that DocGo is showing strong underlying growth in non-migrant businesses while improving operating efficiency. Management said core volumes hit records, the company sees a path to positive adjusted EBITDA exit rate in 2026, and the Hicuity deal could deepen its hospital-to-home offering with meaningful cost and revenue synergies.
The main risks are that reported revenue is still being distorted by the migrant-project wind-down, margins remain below prior expectations, and full-year EBITDA guidance was widened to a larger loss. Management also flagged timing uncertainty on Hicuity closing, exposure to wage and fuel pressure, and possible CMS pressure on parts of RPM even if they believe most of their monitoring base is protected.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 97.2%
- Shares Outstanding
- 98.78M
- Float Shares
- 95.97M
of shares held by institutions
114 13F filers
Buy/sell ratio 0.00. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Vanguard Group Inc | 5.09M | ▲ 13.06K |
| Capitolis Liquid Global Markets LLC | 188.77K | 0 |
| Cwm, LLC | 45.26K | ▲ 36.33K |
| Two Sigma Advisers, LP | 36.20K | ▲ 17.40K |
| Cubist Systematic Strategies, LLC | 16.05K | ▲ 16.05K |
| Point72 (Difc) Ltd | 279 | ▲ 279 |
| Sunbelt Securities, Inc. | 122 | ▲ 47 |
Held by 36 ETFs
Biggest fund positions in DCGO by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| May 12, 26 | Bienstock Lee | other | 15,644 |
| Mar 30, 26 | Bienstock Lee | other | 18,811 |
| Dec 12, 25 | Bienstock Lee | other | 1,113,495 |
| Dec 15, 25 | Bienstock Lee | other | 214,131 |
| Dec 12, 25 | ROSENBERG NORMAN | other | 429,405 |
| Dec 15, 25 | ROSENBERG NORMAN | other | 65,774 |
| Dec 12, 25 | Sugrue Stephen | other | 321,055 |
| Dec 15, 25 | Sugrue Stephen | other | 35,968 |
| Dec 12, 25 | Tendler Ely D | other | 100,000 |
| Dec 15, 25 | Tendler Ely D | sell | 16,850 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our DCGO coverage
Recent articles, reports, and earnings notes.
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Generate DCGO report →DocGo Q2 Earnings Call Highlights
marketbeat.com · Aug 17
DocGo Inc. (DCGO) Q2 2026 Earnings Call Transcript
seekingalpha.com · Aug 17
DocGo Inc. (DCGO) Surpasses Q2 Earnings Estimates
zacks.com · Aug 17
DocGo Announces Second Quarter 2026 Results
businesswire.com · Aug 17
DocGo Likely To Report Narrower Q2 Loss; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
benzinga.com · Aug 14
DocGo to Announce Second Quarter 2026 Results on Monday, August 17, 2026
businesswire.com · Aug 10
Did DocGo Inc. Insiders Breach their Fiduciary Duties to Shareholders?
prnewswire.com · Jul 3
DocGo Inc. (DCGO) Presents at Goldman Sachs 47th Annual Global Healthcare Conference 2026 Transcript
seekingalpha.com · Jun 8
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