DocGo (DCGO) Misses Q2 EPS by 5c, beats revenue, offers guidance

DocGo (NASDAQ: DCGO) reported Q2 EPS of ($0.02), $0.05 worse than the analyst estimate of $0.03. Revenue for the quarter came in at $125.5 million versus the consensus estimate of $119.76 million.

2023 Guidance

Full-year 2023 revenue guidance is increased from $500-$510 million to $540-$550 million. The increase in guidance is prudent and reflects a combination of new contract wins and current run rate of existing contracts, not necessarily the full potential as they scale. It is also important to note that the full increase in guidance is driven by our Mobile Health segment.
Full-year 2023 Adjusted EBITDA1 guidance is increased from $45-$50 million to $48-$53 million.
Expected gross margin exit rate for 2023 remains unchanged at 37%.
DocGo expects to be providing remote patient and device monitoring for over 50,000 patients by the end of 2023, unchanged from our previous report.

For earnings history and earnings-related data on DocGo (DCGO) click here.

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