DocGo Inc. reported second-quarter earnings that fell short of Wall Street estimates on Wednesday, with adjusted earnings per share missing by $0.06 and revenue underperforming forecasts.
The mobile health services provider posted adjusted earnings of $0.22 per share, compared with the $0.28 per share expected by analysts surveyed by Refinitiv. Revenue totaled $192.6 million, below the $200.1 million forecast.
The company attributed the shortfall to slower-than-anticipated demand in certain service lines and operational headwinds during the quarter. DocGo did not provide updated guidance in its earnings release.
Shares of DocGo fell 3.2% in extended trading following the report. The stock had gained 12% year-to-date through Tuesday’s close.
Analysts at William Blair maintained a Market Perform rating on DocGo, citing near-term execution risks despite long-term growth potential in mobile healthcare services.
The company, which provides on-site and mobile medical services to healthcare providers and employers, has expanded rapidly in recent years through acquisitions and organic growth. Its services include mobile X-rays, ultrasounds, and telemedicine solutions.
DocGo’s earnings miss follows a period of heightened investor scrutiny over growth sustainability in the mobile health sector, where competition and reimbursement pressures remain key challenges.
The broader healthcare services industry has faced margin compression amid rising labor and supply costs, though demand for mobile and telehealth solutions has continued to grow post-pandemic.
