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Jun 30, 2023
Docgo Q2 2023 Earnings Report
DocGo reported record results driven by strong growth in core markets and demand for proactive healthcare programs.
Key Takeaways
DocGo announced record second-quarter results, driven by strong growth in core markets and high demand for proactive healthcare programs. The company increased its full-year revenue and adjusted EBITDA guidance to $540-$550 million and $48-$53 million, respectively.
New project momentum was exceptional at the end of Q2 and accelerated in July.
Strong growth observed in core markets alongside high demand from large payers for proactive healthcare programs.
Gross margin improved from 28.1% to 33.4% sequentially.
Full year revenue and adjusted EBITDA guidance increased to $540-$550 million and $48-$53 million, respectively.
Forward Guidance
DocGo increased its full year revenue and adjusted EBITDA guidance.
Positive Outlook
- Strong demand across the board is driving the increase in full year revenue guidance.
- Full year revenue guidance is now $540-$550 million.
- Full year adjusted EBITDA guidance is now $48-$53 million.
- The company is seeing strong growth in core markets.
- There is strong demand from large payers for proactive healthcare programs.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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