NASDAQ$DCGO
Docgo Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Announced record fourth quarter and full-year 2023 results and updated 2024 revenue guidance.
DocGo reported a strong fourth quarter with total revenues of $199.2 million, an 83% increase compared to the previous year. Net income increased by 13% to $8.0 million, and adjusted EBITDA saw a substantial rise of 232% to $22.6 million. The company's full-year revenue increased by 42% to $624.2 million.
- Total revenues for Q4 2023 were $199.2 million, an increase of 83% compared to Q4 2022.
- Net income for Q4 2023 was $8.0 million, a 13% increase compared to Q4 2022.
- Adjusted EBITDA for Q4 2023 was $22.6 million, a 232% increase compared to Q4 2022.
- Mobile Health Services revenues in Q4 2023 increased by 110% to $150.4 million compared to Q4 2022.
Headline financials
Revenue & EPS history
Docgo · Revenue · Quarterly
$199M
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 expects full-year 2024 revenues to be between $720 million and $750 million and adjusted EBITDA to be between $80 million and $85 million.
Tailwinds
- Full-year 2024 revenues are expected to be $720-750 million.
- Full-year 2024 adjusted EBITDA is expected to be $80-85 million.
- Full-year 2024 cash flow from operations is expected to be $65-$75 million.
- Payer relationships continue to expand with commercial rollouts in Michigan, Connecticut and New Jersey in late 2023.
- Work with major hospital systems has continued to grow.
Headwinds
- Assumed some moderation in migrant-related revenues as the year progresses.
- There is typically a slight lag as these leading indicators transition to improved profitability, and we observed that play out late in 2023 and early in 2024.
- Gross margin for the fourth quarter of 2023 was 33.5%, compared to 39.0% in the fourth quarter of 2022.
- The Company’s ability to improve gross margins
- The Company’s ability to implement cost-containment measures
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 Q4 2023
+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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