DocGo Inc. announced its financial results for the third quarter ended September 30, 2026, reporting total revenue of $73.4 million. This figure represents an increase compared to the $70.8 million generated in the same period of the prior year. The company reported a GAAP gross margin of 29.7% for the third quarter of 2026, up from 20.0% in the third quarter of 2025. The company also reported adjusted gross margin of 33.3% for the most recent quarter, compared to 33.0% in the prior year.
On the income statement, DocGo recorded a net income of ($18.1) million for the third quarter of 2026. This compares to a net loss of ($29.7) million in the third quarter of 2025. The company also reported adjusted EBITDA of ($3.2) million for the third quarter of 2026, an improvement from adjusted EBITDA of ($7.2) million in the prior year.
DocGo operates in two primary segments: Medical Transportation Services and Mobile Health Services. Revenue for Medical Transportation Services was $53.3 million in the third quarter of 2026, compared to $50.1 million in the prior year. Revenue for Mobile Health Services was $20.2 million in the third quarter of 2026, compared to $20.7 million in the prior year.
The company reported unrestricted cash and cash equivalents of $19.1 million as of September 30, 2026. This balance was down from $25.2 million as of June 30, 2026. The company noted that this figure does not include debt funding from Perceptive Advisors, which occurred on October 1, 2026.
In terms of operational volume, the company reported record volumes across various business lines. US medical transportation increased 13% year over year, mobile phlebotomy increased 15%, cardiac and remote patient monitoring increased 8.5%, and virtual care and lab orders increased 12.5% when comparing the third quarter of 2026 to the third quarter of 2025.
DocGo also announced that it has begun a search for a new Chief Executive Officer. The current CEO, Lee Bienstock, has an employment contract that expires on December 31, 2026. Mr. Bienstock will continue as CEO until a successor is appointed and will remain through at least March 31, 2027.
Regarding guidance, the company expects full-year 2026 revenue to be approximately $300 million. This is a revision from the company's prior guidance of $305 million to $310 million. The revision is attributed to the ongoing elimination and restructuring of unprofitable business lines. The company also expects full-year 2026 adjusted EBITDA to be ($17) million to ($22) million, unchanged from the previous quarter's guidance.
