DocGo Inc. reported a net loss of $18.0 million for the three months ended June 30, 2026, compared to a net loss of $13.3 million for the same period in 2025. For the six months ended June 30, 2026, the company recorded a net loss of $34.7 million, an increase from a net loss of $24.3 million in the prior year. Total revenues for the second quarter of 2026 were $73.4 million, down 8.7% from $80.4 million in the same quarter of 2025. The decline in revenue was primarily attributed to a significant decrease in the Mobile Health Services segment, which saw revenues drop by 30.5% to $21.4 million, largely due to the wind-down of migrant-related services that had previously contributed to revenue growth.
In contrast, the Transportation Services segment experienced a revenue increase of 4.8%, reaching $52.0 million, driven by a 10.8% rise in trip volumes in the U.S. The average trip price also increased to $426 from $410 year-over-year. The overall decrease in revenues and the increase in operating expenses, which totaled $40.3 million for the second quarter, contributed to the company's losses. Operating expenses as a percentage of revenue rose from 53.4% in the second quarter of 2025 to 54.9% in 2026, reflecting the impact of declining revenues.
DocGo's financial position showed a decrease in current assets, which fell to $119.8 million as of June 30, 2026, from $152.4 million at the end of 2025. The company's cash and cash equivalents also decreased significantly to $25.2 million, down from $51.0 million. The working capital was reported at $47.5 million, a decline of 44.1% compared to the previous period. The company is currently in discussions with lenders regarding compliance with financial covenants and is exploring options to improve liquidity, including potential cost-cutting measures and a new credit facility.
Strategically, DocGo has been active in acquisitions, including the recent merger with Hicuity Health, Inc., a provider of tele-critical care services, which is expected to enhance its service offerings. The company continues to focus on expanding its Mobile Health Services and Transportation Services segments while managing operational costs. Looking ahead, DocGo anticipates ongoing challenges in revenue generation due to the cessation of certain government contracts and is implementing measures to stabilize its financial performance. The company remains committed to exploring new market opportunities and enhancing its operational efficiency to drive future growth.
About DocGo Inc.
DocGo Inc. provides mobile healthcare and medical transportation services through a proprietary platform, network of clinicians, and fleet of response vehicles. Serving municipalities, hospitals, insurers, and employers across the U.S. and U.K., it offers in-home diagnostics, treatment, and virtual care, aiming to improve access, reduce costs, and enhance patient outcomes. Its integrated model emphasizes quality, efficiency, and strategic partnerships in the evolving healthcare landscape.
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