DocGo (DCGO) investor relations material

Executive summary

• Q3 revenue was $73.4M, up 3.7% YoY; adjusted EBITDA loss narrowed to $3.2M from $7.2M, while operating and net losses also declined.

• Nine-month revenue declined 10.1% to $222.4M as migrant-related work wound down; operating cash use was $17.5M.

• Operations are being reshaped around profitable business lines, with a target of exiting 2026 at a profitable run rate.

Financial highlights

• Q3 operating loss was $17.3M versus $42.0M, and net loss was $18.3M versus $29.7M YoY; Q3 GAAP EPS was $(0.17) versus $(0.28).

• Nine-month adjusted EBITDA loss was $19.8M versus $17.3M; nine-month net loss was $53.0M versus $54.0M.

• Cash and cash equivalents were $19.1M at September 30, down from $51.0M at year-end 2025; unrestricted cash was $25.2M at June 30.

• Q3 reported results included $8.0M of finite-lived intangible impairment and $8.7M of goodwill impairment; 2025 Q3 included $16.7M of impairment charges.

Outlook and guidance

• FY2026 revenue guidance was lowered to ~$300M from $305M–$310M; adjusted EBITDA loss guidance remains $17M–$22M and excludes Hicuity Health.

• Q4 revenue of $77M–$78M was described as achievable, supported by seasonal SteadyMD and Care in the Home activity and rising transport volumes.

• No formal FY2027 guidance was issued; management expects year-over-year revenue growth and positive adjusted EBITDA for the full year.

• Approximately $240M of projected revenue is adjusted EBITDA-positive on a contribution basis; management targets exiting 2026 at a profitable run rate.