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Jun 30, 2022
Docgo Q2 2022 Earnings Report
DocGo's Q2 2022 earnings exceeded expectations, driven by new business wins and expansion, despite the wind-down of mass COVID testing revenue.
Key Takeaways
DocGo reported a strong second quarter with revenue of $109.5 million, a 76% increase year-over-year. The company's performance was driven by new contracts and expansion, which offset the decline in COVID-19 testing revenue. DocGo also raised its full-year 2022 guidance.
Revenue for Q2 2022 reached $109.5 million, marking a 76% increase compared to the same period last year.
The company secured three new national payer contracts and six new hospital contracts.
DocGo expanded its operations by winning three large municipal RFPs, adding a new international cruise line customer, and entering two new states.
DocGo has over $200 million in total cash and expects to remain active in pursuing synergistic M&A opportunities while also funding organic growth and other capital deployment activities, including its share repurchase program.
Forward Guidance
DocGo anticipates contributions from new business wins across the spectrum, and expects to remain active in pursuing synergistic M&A opportunities while also funding organic growth and other capital deployment activities, including their share repurchase program.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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