DocGo's fourth quarter 2024 revenue decreased to $120.8 million from $199.2 million in the prior year, mainly due to the wind-down of migrant-related programs. The company reported a net loss of $7.6 million for the quarter, compared to a net income of $8.0 million in Q4 2023. Full-year 2024 revenue was $616.6 million, with a GAAP gross margin of 32.1%.
Total revenue for Q4 2024 was $120.8 million, a significant decrease from $199.2 million in Q4 2023, primarily due to the wind-down of migrant-related programs.
The company reported a net loss of $7.6 million in Q4 2024, contrasting with a net income of $8.0 million in Q4 2023.
Adjusted EBITDA for Q4 2024 was $1.1 million, down from $22.6 million in Q4 2023.
Full-year 2024 revenue was $616.6 million, with full-year GAAP gross margin improving to 32.1% from 28.7% in 2023.
DocGo expects full-year 2025 revenue to be between $410 million and $450 million, unchanged from previous estimates. However, the adjusted EBITDA margin for 2025 is now expected to be approximately 5%, down from the previous estimate of 8%-10%.
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