DocGo Inc.

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.

DocGo Inc. announced its first quarter 2026 financial results, reporting total revenue of $75.6 million, a decrease from $96.0 million in Q1 2025, primarily due to the wind-down of migrant-related programs. Excluding these programs, revenue increased 19.3%. The company posted a net loss of ($16.7) million and adjusted EBITDA of ($10.2) million for the quarter. DocGo raised its full-year 2026 revenue guidance to $300-$315 million, citing strong demand for virtual care services, but maintained its adjusted EBITDA guidance at ($5-$10) million, acknowledging temporary margin inefficiencies from hiring and fuel costs.

Dr. Stephen K. Klasko will step down from DocGo Inc.'s Board of Directors and committee positions, effective June 16, 2026, to pursue a new significant healthcare leadership role. His departure is not due to any disagreement with the company. Concurrently, Michael Burdiek, a long-serving independent director, has been appointed as the new independent Chair of the Board, effective the same date. Additionally, Jim Travers was appointed to the Audit and Compliance Committee and the Nominating and Corporate Governance Committee.