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DCGO

DocGo Inc.

DCGO

DocGo Inc. • NASDAQ
$1.03 ▼ -0.96% (-0.01)
Market Cap $100.74 M
52w High $5.67
52w Low $0.87
Dividend Yield 0%
P/E -1.94
Volume 299.82K
Outstanding Shares 97.81M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $70.81M ▼ $60.102T ▲ $-56.68T ▼ -80.046M% ▼ $-0.28 ▼ $-38.978T ▼
Q2-2025 $80.418M ▼ $42.899M ▼ $-11.155M ▼ -13.872% ▼ $-0.11 ▼ $-13.492M ▼
Q1-2025 $96.033M ▼ $44.845M ▼ $-9.405M ▼ -9.794% ▼ $-0.093 ▼ $-10.615M ▼
Q4-2024 $120.833M ▼ $47.972M ▲ $-3.263M ▼ -2.7% ▼ $-0.032 ▼ $-3.161M ▼
Q3-2024 $138.685M $39.783M $5.498M 3.964% $0.054 $14.315M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $73.356M ▼ $353.783M ▼ $93.121M ▼ $270.532M ▼
Q2-2025 $104.164M ▲ $408.264M ▼ $120.533M ▼ $297.278M ▼
Q1-2025 $79.008M ▼ $430.793M ▼ $128.868M ▼ $309.337M ▼
Q4-2024 $89.242M ▼ $455.621M ▼ $140.442M ▼ $320.917M ▼
Q3-2024 $89.458M $493.883M $168.979M $325.213M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-29.657M ▼ $1.659M ▼ $1.099M ▲ $-33.052M ▼ $-30.947M ▼ $101.163K ▼
Q2-2025 $-13.29M ▼ $33.605M ▲ $-21.377M ▼ $-7.382M ▲ $5.496M ▲ $32.037M ▲
Q1-2025 $-11.079M ▼ $9.655M ▼ $-5.733M ▼ $-8.518M ▼ $-4.278M ▼ $7.474M ▼
Q4-2024 $-7.647M ▼ $12.887M ▼ $-5.571M ▼ $-7.856M ▼ $-1.241M ▼ $12.22M ▼
Q3-2024 $4.546M $31.033M $-1.513M $-7.351M $22.755M $29.587M

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q2-2025
Mobile Health Services Segment
Mobile Health Services Segment
 $90.00M ▲$70.00M ▼$50.00M ▼$30.00M ▼
Transportation Services Segment
Transportation Services Segment
 $50.00M ▲$50.00M ▲$50.00M ▲$50.00M ▲

Five-Year Company Overview

Income Statement

Income Statement DocGo has moved from being a small, loss‑making business a few years ago to a mid‑sized, consistently profitable company today. Revenue grew rapidly in the early part of the decade and then leveled off more recently, suggesting the hyper‑growth phase may be easing. Margins have improved as the business scaled, but profits remain relatively modest compared with revenue, leaving less cushion if growth slows or costs rise. Earnings have also been a bit uneven from year to year, which hints at sensitivity to contract timing, pricing, and operating efficiency. Overall, the income statement shows a real business with positive earnings, but still in a relatively early, scale‑up stage rather than a mature, highly profitable one.

Balance Sheet

Balance Sheet The balance sheet looks generally healthy and conservative. Total assets have grown steadily, and shareholder equity has built up over time, indicating that growth has been funded largely through equity and retained profits rather than heavy borrowing. Debt sits at a low level relative to the size of the company, which reduces financial risk and interest burden. Cash on hand is solid but not at the peak levels seen a couple of years ago, so the company has some flexibility but not unlimited dry powder. In short, DocGo appears to have a reasonably strong financial foundation with low leverage and a gradually strengthening capital base.

Cash Flow

Cash Flow Cash generation has been choppy but is moving in the right direction. Operating cash flow flipped from small inflows to an outflow and then back to a meaningful inflow most recently, showing that the business can generate cash, but not yet with full consistency. Free cash flow has followed the same pattern, swinging between slightly negative and clearly positive, helped by relatively modest spending on equipment and infrastructure. This suggests DocGo’s model is not very capital‑intensive, which is a plus, but the variability in cash flow underlines that the business is still stabilizing and sensitive to changes in contracts, working capital, and execution.

Competitive Edge

Competitive Edge DocGo sits in a distinctive niche between pure telehealth providers and traditional medical transport companies. Its strength lies in combining a technology platform with a mobile workforce that can deliver care at home or in the community, which is harder for conventional players to replicate quickly. Partnerships with insurers and hospital systems create some stickiness and network effects: once integrated, switching providers becomes more cumbersome for partners. However, DocGo still faces competition from large telehealth platforms, local ambulance and transport operators, and health systems that may build their own solutions. Its competitive edge depends on maintaining superior logistics, integration, and outcomes while navigating regulatory, reimbursement, and contract‑renewal risks.

Innovation and R&D

Innovation and R&D Innovation is central to DocGo’s strategy, even if it does not resemble classic pharmaceutical or device R&D. The company invests heavily in its software platform, AI‑driven dispatch tools, telehealth integration, and data analytics to optimize care delivery and reduce costs. Offerings like mobile health units, remote monitoring, transitional care, and care‑gap programs show a focus on new care models rather than just technology for its own sake. The acquisition of SteadyMD broadened its virtual‑care reach and deepened its tech stack. Looking ahead, DocGo is pushing into longitudinal care programs and more advanced AI applications, which could strengthen its moat if executed well, but also add complexity and integration risk if growth outpaces operational discipline.

Summary

DocGo has evolved quickly from a small, speculative SPAC story into a real operating company with growing scale, positive earnings, and a relatively clean balance sheet. The business model—technology‑enabled mobile and virtual care—fits well with healthcare’s shift toward home‑based and value‑based care, and its integrated platform gives it a differentiated position versus both pure telehealth and traditional transport providers. At the same time, growth has begun to slow from earlier breakneck levels, profitability is still thin, and cash flows have been volatile, reflecting the realities of contract‑driven healthcare services. The company’s future will likely hinge on its ability to deepen payer and provider partnerships, prove measurable cost and outcome benefits, and sustain its technology lead, all while managing regulatory, reimbursement, and execution risks that are inherent in this sector.

NEWS

November 26, 2025 · 7:35 AM UTC

DocGo Announces Participation at Upcoming December Investor Conferences

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November 13, 2025 · 7:35 AM UTC

DocGo Announces Participation at Upcoming Investor Conferences

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November 10, 2025 · 4:05 PM UTC

DocGo Announces Third Quarter 2025 Results

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November 4, 2025 · 7:35 AM UTC

DocGo Announces Upcoming Launch of Longitudinal Care Services for Major California Health Plan

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October 27, 2025 · 7:35 AM UTC

DocGo to Announce Third Quarter 2025 Results on Monday, November 10, 2025

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