DocGo Announces Second Quarter 2026 Results (Form 8-K)

DocGo Announces Second Quarter 2026 Results

Company Signs Definitive Agreement to Acquire Virtual Care Provider Hicuity Health,

Perceptive Advisors Commits to New Term Loan Funding

Management to Host Conference Call and Webcast Today at 5:00 PM Eastern Time

NEW YORK, NY, August 17th, 2026 - DocGo Inc. (Nasdaq: DCGO) ("DocGo" or the "Company"), a leading provider of technology-enabled mobile health and medical transportation services, today announced financial and operating results for the second quarter ended June 30, 2026.

Second Quarter 2026 Financial Highlights

•Total revenue for the second quarter of 2026 was $73.4 million, compared to $80.4 million in the second quarter of 2025. This decline was entirely due to the wind-down of migrant-related programs, which generated zero revenue in the second quarter of 2026 and $18.8 million in the second quarter of 2025. Excluding revenue from migrant-related programs, total revenue increased 19% year over year.

•GAAP gross margin (which includes depreciation and amortization expenses) for the second quarter of 2026 was 26.9%, compared to 26.7% in the second quarter of 2025.

•Adjusted gross margin1 for the second quarter of 2026 was 30.5%, compared to 31.6% in the second quarter of 2025.

•Net income for the second quarter of 2026 was ($18.0) million, compared to net income of ($13.3) million in the second quarter of 2025.

•Adjusted EBITDA1 was ($6.3) million for the second quarter of 2026, compared to adjusted EBITDA of ($6.1) million for the second quarter of 2025.

•Medical Transportation Services revenue in the second quarter of 2026 was $52.0 million, compared to $49.6 million for the second quarter of 2025. Mobile Health Services revenue for the second quarter of 2026 was $21.4 million, compared to $30.8 million for the second quarter of 2025. This decline was entirely due to the wind-down of migrant-related programs. Excluding revenue from migrant-related programs, Mobile Health Services revenue increased 78% to $21.4 million in the second quarter of 2026 from $12.0 million in the second quarter of 2025, driven by organic growth and the inclusion of revenue from SteadyMD.

•As of June 30, 2026, the Company held total cash and cash equivalents, including restricted cash and investments, of approximately $48.1 million, compared to $59.9 million as of March 31, 2026. Unrestricted cash and cash equivalents was $25.2 million as of June 30, 2026, compared to unrestricted cash of $35.7 million as of March 31, 2026.

Select Corporate Highlights for the Second Quarter of 2026 and Recent Weeks

•Company achieved record volumes across all major business lines, with US medical transportation increasing 15%, healthcare in the home increasing 26%, mobile phlebotomy

increasing 20%, cardiac and remote patient monitoring increasing 13%, and virtual care & lab orders increasing 58% when comparing the second quarter of 2026 to the second quarter of 2025.

•Company surpassed 1.7 million patients assigned by the Company's payer and provider partners to engage for care gap closure services since inception, up 100,000 patients from last quarter.

•Signed a new contract with one of the largest national health plans to offer care gap closure services to their members in Pennsylvania.

•Launched mobile phlebotomy services in Southern Florida, expanding relationship with a major national clinical laboratory and positioning the company for mobile phlebotomy growth in the Southeast.

Hicuity Health Acquisition & Perceptive Financing

•Company has entered into a definitive agreement to acquire 100% of virtual care provider, Hicuity Health.

•Hicuity delivers high acuity virtual clinical care - including Tele-ICU, Virtual Nursing, and Telemetry Monitoring services - for health systems, hospitals and post-acute facilities.

•On a trailing 12-month basis, Hicuity generated approximately $65 million in revenue and $4.5 million of adjusted EBITDA.

•DocGo is acquiring Hicuity in exchange for the assumption of the company's existing indebtedness held by Perceptive Advisors, which is estimated to be approximately $52 million at closing, which will now mature in December 2029.

•Hicuity's preferred shareholder will receive equity representing approximately 2.0% of DocGo's currently outstanding common stock and may receive an additional 3.5% of currently outstanding common stock if DocGo achieves a market capitalization of $250 million within three years of closing.

•Perceptive Advisors has committed to provide up to an additional $50 million of debt financing to DocGo, expected to be made available in multiple tranches, the first $12.5 million of which will be funded upon Hicuity and DocGo entering into a services agreement pursuant to which DocGo will provide management related services to Hicuity during the pre-closing period.

Financial Guidance

•Full-year 2026 revenue range is narrowed to $305-$310 million, compared to the Company's prior guidance of $300-$315 million. Guidance does not include any contribution from the acquisition of Hicuity Health, as the transaction has not yet closed.

•Full-year 2026 adjusted EBITDA2 is expected to be ($17-$22) million, compared to the Company's prior guidance of ($5-$10) million. The Company still expects to exit the year at a profitable run rate.

"The continued evolution of our company into the premier provider of virtual, remote, and in-home healthcare at any address took a major leap forward with our pending acquisition of virtual care provider Hicuity Health," commented Lee Bienstock, Chief Executive Officer of DocGo. "Hicuity brings technology-enabled acute and critical care telemedicine capabilities, serving a diverse portfolio of health systems across the United States. Integrating the power of Hicuity's offering helps us create one of the

most innovative healthcare delivery platforms in the industry - a holistic tech-powered solution that enables us to match the right clinician with the right patient at the right time in the right setting. This solidifies our company's unique position to bridge patient care across the entire continuum - from the hospital to the home."

Norm Rosenberg, Chief Financial Officer of DocGo, added, "The pending acquisition of Hicuity represents not only a significant growth opportunity with numerous cost synergies, but will also create a combined entity with much greater financial liquidity. We are fortunate to add a healthcare lending partner of the caliber of Perceptive Advisors, which has committed to providing additional debt financing of up to $50 million, if needed." Rosenberg continued, "Our cost cutting initiatives progressed during the quarter, with more than four million dollars of estimated annual costs removed from SG&A during the period while also achieving record volumes across all key business verticals. We believe that the Company will achieve a positive adjusted EBITDA run rate as we exit the year and head into 2027."

Norton Rose Fulbright is acting as the legal counsel of DocGo for the transaction. TD Cowen is acting as exclusive financial advisor to Hicuity Health, and Stradling Yocca Carlson & Rauth is acting as Hicuity Health's legal counsel.

1.Adjusted gross margin and adjusted EBITDA are non-GAAP financial measures. See "Non-GAAP Financial Measures" below for additional information on these non-GAAP financial measures and reconciliations to the most comparable GAAP measures.

2.Adjusted EBITDA is a non-GAAP financial measure. We have not reconciled adjusted EBITDA outlook to the most comparable GAAP outlook because it is not possible to do so without unreasonable efforts due to the uncertainty and potential variability of reconciling items, which are dependent on future events and often outside of management's control and which could be significant. Because such items cannot be reasonably predicted with the level of precision required, we are unable to provide outlooks for the comparable GAAP measure (net income). Forward-looking estimates of adjusted EBITDA are made in a manner consistent with the relevant definitions and assumptions noted herein.

Conference Call and Webcast Details

Monday, August 17th, 2026, at 5:00 PM ET

1-800-717-1738 - Investors Dial

1-646-307-1865 - Int'l Investors Dial

Conference ID: 78516

Webcast: https://viavid.webcasts.com/starthere.jsp?ei=1770673&tp_key=72425f7843

The webcast can also be accessed under Events on the Investors section of the Company's website, https://ir.docgo.com/.

About DocGo

DocGo is leading the proactive healthcare revolution with an innovative care delivery platform that includes mobile health services, remote patient monitoring, ambulance services and a 50-state virtual care network. DocGo is helping to reshape the traditional four-wall healthcare system by providing high quality, highly accessible care to patients where and when they need it. DocGo's proprietary technology and relationships with a dedicated field staff of certified health professionals elevate the quality of patient care and drive business efficiencies for municipalities, hospital networks and health insurance providers.

With Mobile Health, DocGo empowers the full promise and potential of telehealth by facilitating healthcare treatment, in tandem with a remote advanced practice provider, in the comfort of a patient's home or workplace. Together with DocGo's integrated Ambulnz medical transport services, DocGo is bridging the gap between physical and virtual care. For more information, please visit www.docgo.com. To get an inside look on how the proactive healthcare revolution is helping transform healthcare by reducing costs, increasing efficiency and improving outcomes, visit www.proactivecarenow.com.