DocGo Announces Third Quarter 2026 Results and CEO Transition

Lee Bienstock, Chief Executive Officer of DocGo

“We remain firmly committed to our goal of exiting the year at a profitable run rate and continue to make meaningful progress toward that objective. Central to this process are continued AI-driven cost optimizations and the elimination or restructuring of business lines that do not meet our profitability threshold. Out of our approximately $300 million in projected 2026 revenue, roughly $240 million is adjusted EBITDA positive on a contribution basis. Our plan requires that every business line that we continue to operate contributes positive adjusted EBITDA to the portfolio. Businesses that are not projected to get to this level by the end of the year will be eliminated or redesigned and those steps are in motion. As a result, we expect to see continued improvements in gross margin and adjusted EBITDA, coupled with a slight decline from the existing revenue base.”

Norm Rosenberg, Chief Financial Officer of DocGo

“I am encouraged by the 280-basis point improvement in gross margin over the second quarter, especially when considering the elevated fuel costs we are experiencing.”

Norm Rosenberg, Chief Financial Officer of DocGo

“To further quantify the impact of the planned discontinuation of certain business lines, medical transportation gross margins were 34.7% in the third quarter. Excluding our upstate New York market, which we plan to exit before the end of this year, medical transportation gross margins would have been 36.7%, which would positively impact our consolidated gross margin by approximately 140 basis points. We believe that the steps we are taking to optimize our business lines place us in a good position to drive improved profitability over the coming quarters.”

Michael Burdiek, Chairman of the Board of Directors of DocGo

“On behalf of the entire Board, I would like to thank Lee for his years of dedicated service and his many contributions to DocGo. Our priority continues to be accelerating our path to enhanced profitability and value creation. Our CEO search, led by Heidrick & Struggles, will seek a leader who can continue delivering on that objective in the next phase of our corporate transformation. We are keenly focused on the rationalization of our business lines and the markets we serve to concentrate our resources where we see the best opportunities for profitable growth. Going forward, we will focus intensively on operational efficiencies, with disciplined execution and clear accountability across the business.”

Lee Bienstock, Chief Executive Officer of DocGo

“I am convinced that DocGo is positioned to create significant value as the healthcare ecosystem continues to rapidly evolve. Our fully integrated medical transport and hybrid care capabilities, which combine virtual and in-person care, have established a strong foundation with significant potential ahead. DocGo’s employees, customers and stakeholders remain my priority and that will continue throughout this transition. It has been an honor to lead DocGo’s dedicated team of more than 3,000 employees, and I am deeply grateful for their tireless efforts. I look forward to working closely with the Board as it conducts a search to identify my successor. In the interim I am committed to continuing to lead our team in advancing our profitability and growth initiatives.”