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Jun 30, 2024
Docgo Q2 2024 Earnings Report
Announced strong second quarter results, raised cash flow from operations guidance, and reiterated revenue and adjusted EBITDA guidance.
Key Takeaways
DocGo reported a strong second quarter with a 31% increase in total revenue compared to the previous year. Net income increased significantly, and the company raised its cash flow from operations guidance for the full year.
Total revenue increased by 31% to $164.9 million compared to Q2 2023.
Net income increased by 354% to $5.9 million compared to Q2 2023.
Adjusted EBITDA increased by 89% to $17.2 million compared to Q2 2023.
The company raised its cash flow from operations guidance to $80-$90 million for 2024.
Revenue by Segment
Forward Guidance
DocGo expects full-year 2024 revenue to be $600-$650 million and adjusted EBITDA to be $65-$75 million. They also anticipate $80-$90 million in cash flow from operations for 2024.
Positive Outlook
- Full-year 2024 revenue is expected to be $600-$650 million.
- Full-year 2024 adjusted EBITDA is expected to be $65-$75 million.
- Revenue for 2024 base business is expected to be $280-$300 million.
- Cash flow from operations for calendar year 2024 is expected to be $80-$90 million.
- Base business is expected to grow by more than 30% in 2025.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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