Mobile healthcare provider DocGo's Q4 revenue beats estimates

Overview

• US mobile health services provider's Q4 revenue fell yr/yr but beat analyst expectations

• Company launched formal process to explore strategic alternatives

Outlook

• DocGo raises 2026 revenue guidance to $290-$310 mln, up from $280-$300 mln prior

• Company now expects 2026 adj EBITDA loss of $5-$10 mln, improved from prior loss of $15-$25 mln

• DocGo expects to achieve profitability in the second half of 2026

Result Drivers

• MIGRANT PROGRAM WIND-DOWN - Revenue decline attributed to wind-down of migrant-related programs, which contributed $7.4 mln in Q4 2025 versus $60.2 mln in Q4 2024

• CORE BUSINESS GROWTH - Excluding migrant-related programs, revenue rose 11% yr/yr, driven by growth in 'healthcare at any address' services and contribution from SteadyMD acquisition

• IMPAIRMENT CHARGES - Net loss included $78 mln in non-cash impairments of intangible assets, goodwill, and an equity investment

Company press release: ID:nBw63yXjda

Key Details

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 $3.00, about 356.5% above its March 13 closing price of $0.66

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