Shares of DocGo Inc. (DCGO), a provider of technology-enabled mobile health services, are down over 26% in premarket trading Friday, following the company's financial results for the fourth quarter ended Dec.31, 2024.
For the fourth quarter of 2024, total revenue declined to $120.8 million from $199.2 million in the year-ago quarter, hurt by the wind-down of migrant-related programs.
The company incurred a net loss of $7.6 million for the fourth quarter of 2024 compared to a net income of $8.0 million in the fourth quarter of 2023.
Looking ahead to the full year of 2025, the company expects revenue to be in the range of $410 million to $450 million, marking a sharp decline from the $616.6 million reported in 2024.
The company ended Dec.31, 2024, with cash of approximately $107.3 million.
DCGO closed Thursday's (Feb.27 2025) trading at $3.92, down by 3.45 percent. In premarket trading Friday, the stock is down by 26.53 percent at $2.88 on the Nasdaq.
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