Quarterly ResultMay 11, 2026, 04:38 PM
DocGo Q1 Revenue $75.55M, Net Loss $(16.70)M; Going Concern Warning
AI Summary
DocGo Inc. reported a significant decrease in Q1 2026 revenue to $75.55 million and an increased net loss of $(16.70) million compared to the prior year. The company disclosed a going concern warning due to declining operating results, continued operating losses, and non-renewal of large customer contracts, particularly municipal migrant-related programs. DocGo is actively discussing covenant non-compliance with its lender and plans to reduce cash utilization and operating costs through various measures, including stock compensation, intensified collection efforts, workforce reduction, and delayed spending.
Key Highlights
- Q1 2026 Revenue: $75,550,484, down from $96,033,055 in Q1 2025.
- Q1 2026 Net Loss: $(16,699,837), compared to $(11,079,300) in Q1 2025.
- Q1 2026 Basic Net Loss per Share: $(0.15), up from $(0.09) in Q1 2025.
- Cash and cash equivalents as of March 31, 2026: $35,675,081.
- Total current assets as of March 31, 2026: $138,165,788.
- Total current liabilities as of March 31, 2026: $77,216,708.
- Company is not in compliance with minimum liquidity financial covenant as of December 31, 2025.
- Management believes plans will alleviate substantial doubt about going concern for 12 months.