Loading...
•
Mar 31, 2022
Docgo Q1 2022 Earnings Report
DocGo's Q1 2022 earnings showcased strong growth, with revenue significantly increasing and the company progressing in its transition to non-COVID related services.
Key Takeaways
DocGo reported a strong first quarter in 2022, with revenue increasing by 137% compared to the previous year. The company is transitioning from COVID-related services to longer-term, non-COVID work and expanding its geographic reach. They generated strong net income and cash flow, and expect to see continued improvements in profitability over time.
Revenue increased by 137% compared to the year-ago period.
The company is transitioning from Covid-related services to longer term non-Covid related work.
DocGo is expanding its breadth and geographic reach, adding new services in new states.
The company generated strong net income and cash flow.
Forward Guidance
The company is reiterating its prior revenue guidance for fiscal year 2022 of approximately $400-420 million and Adjusted EBITDA is anticipated to be approximately $35-41 million for 2022.
Positive Outlook
- Strong demand from its customers for both mobile health and transportation services.
- Revenue guidance for fiscal year 2022 of approximately $400-420 million.
- Represents growth of 25-32% over 2021 revenues.
- Excluding estimated Covid testing revenues from both years, its 2022 revenue guidance would represent an annual increase of 65% - 75% over 2021.
- Adjusted EBITDA is anticipated to be approximately $35-41 million for 2022.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...