NASDAQ$DCGO
Docgo Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Announced Q3 2024 results, expanded operations on the West Coast, and increased full-year guidance for cash flow from operations.
DocGo reported a decrease in revenue due to the planned wind down of migrant-related programs, but net income and adjusted EBITDA increased. The company expanded its geographic footprint on the West Coast and saw strong demand for its care gap closure programs.
- Total revenue for Q3 2024 was $138.7 million, a decrease of 26% compared to Q3 2023.
- Net income was $4.5 million for Q3 2024, a decrease of 2% compared to Q3 2023.
- Adjusted EBITDA was $17.9 million for Q3 2024, an increase of 7% compared to Q3 2023.
- Full-year 2024 revenue guidance has been tightened to $620-$630 million, and cash flow from operations is expected to be $90-$100 million.
Headline financials
Revenue & EPS history
Docgo · Revenue · Quarterly
$139M
Revenue by segment
Docgo · $187M total across 2 segments · Q3 2023
- Mobile Health Services$139M—74.7%
- Transportation Services$47.2M—25.3%
Forward guidance
DocGo provided full-year 2024 and 2025 guidance. Full-year 2024 revenue is expected to be $620-$630 million, adjusted EBITDA is expected to be $70-$75 million, and cash flow from operations is expected to be $90-$100 million. Full-year 2025 revenue is expected to be $410-$450 million, and adjusted EBITDA margin is expected to be 8%-10%.
Tailwinds
- Full-year 2024 revenue guidance range has been tightened to $620-$630 million.
- Full-year 2024 adjusted EBITDA is now expected to be $70-$75 million.
- Full-year 2024 cash flow from operations is being increased to $90-$100 million.
- Full-year 2025 revenue is expected to be $410-$450 million.
- Full-year 2025 adjusted EBITDA margin is expected to be in a range of 8%-10% of total revenue.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2024
+1.9%
Avg return
Earnings day
+2.0%
Avg return
5 days after
-1.6%
Avg return
30 days after
57%
12 / 21 earnings
Positive
+32.3%
Q2 2021
Best reaction
-40.4%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.3% | +0.2% | -2.6% | |
| Q4 2025 | +17.7% | +4.0% | -9.7% | |
| Q3 2025 | +0.0% | -3.6% | -15.3% | |
| Q1 2025 | -40.4% | -39.9% | -34.3% | |
| Q4 2024 | -21.2% | -22.4% | -32.7% | |
| Q3 2024 | +9.6% | +14.0% | +11.8% | |
| Q2 2024 | +18.2% | +7.8% | +18.2% | |
| Q1 2024 | -13.5% | -11.2% | -12.6% | |
| Q4 2023 | +4.1% | +0.3% | +3.3% | |
| Q3 2023 | +1.2% | -5.3% | -9.3% | |
| Q2 2023 | +13.9% | +12.1% | -15.6% | |
| Q1 2023 | +5.2% | +2.4% | +11.3% | |
| Q4 2022 | -1.5% | -4.9% | -4.7% | |
| Q3 2022 | -7.7% | -5.1% | -19.8% | |
| Q2 2022 | +4.1% | +16.9% | +11.5% | |
| Q1 2022 | -0.8% | -7.3% | +16.7% | |
| Q2 2021 | +32.3% | +48.9% | +36.2% | |
| Q4 2021 | +13.2% | +39.2% | +29.7% | |
| Q3 2021 | +4.0% | -2.2% | -15.9% | |
| Q1 2021 | -0.4% | -0.4% | -0.1% | |
| Q4 2020 | -0.8% | -0.5% | +0.3% | |
| Q3 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
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