DOCGO INC Financials
DOCGO INC (DCGO) reported $294.7M in revenue over the twelve months to Jun 30, 2026, down 32.4% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
A sharp FY2025 contraction turned modest profitability into deep losses while cash generation stayed positive, exposing substantial cost rigidity.
In FY2025, a net loss of-$196M coexisted with operating cash flow of$34.5M , so the accounting loss did not translate into an equivalent cash drain. That differs from FY2024, when operating cash flow was$70.1M against$13.4M of net income, pointing to large year-to-year non-cash or working-capital effects.
Revenue fell from
FY2025's balance-sheet posture remained relatively lightly leveraged: the current ratio was 2.3x and debt-to-equity was 0.0x, leaving short-term obligations modest relative to current assets. Yet total assets fell from
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of DOCGO INC's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
DOCGO INC has an operating margin of -55.3%, meaning the company loses $55 on every $100 of revenue. This results in a profitability score of 14/100. This is down from 4.7% the prior year.
DOCGO INC's revenue declined 47.7% year-over-year, from $616.6M to $322.2M. This contraction results in a growth score of 3/100.
DOCGO INC carries a low D/E ratio of 0.00, meaning only $0.00 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 89/100, indicating a strong balance sheet with room for future borrowing.
DOCGO INC's current ratio of 2.26 indicates adequate short-term liquidity, earning a score of 64/100. The company can meet its near-term obligations, though with limited headroom.
DOCGO INC has a free cash flow margin of 9.3%, earning a moderate score of 50/100. The company generates positive cash flow after capital investments, but with room for improvement.
DOCGO INC posts a -136.3% return on equity (ROE), meaning it loses $136 for every $100 of shareholders' equity. This results in a returns score of 9/100. This is down from 4.2% the prior year.
DOCGO INC scores -1.69, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($37.7M) relative to total liabilities ($91.2M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
DOCGO INC passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
DOCGO INC reported a net loss of $196.4M while generating $34.5M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
DOCGO INC generated $322.2M in revenue in fiscal year 2025. This represents a decrease of 47.7% from the prior year.
DOCGO INC's EBITDA was -$162.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 464.3% from the prior year.
DOCGO INC reported -$196.4M in net income in fiscal year 2025. This represents a decrease of 1569.8% from the prior year.
DOCGO INC earned -$1.84 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 1122.2% from the prior year.
Cash & Balance Sheet
DOCGO INC generated $29.9M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 55.0% from the prior year.
DOCGO INC held $51.0M in cash against $184K in long-term debt as of fiscal year 2025, with $67.5M of liabilities due within a year.
Not reported for fiscal year 2025.
Margins & Returns
DOCGO INC's operating margin was -55.3% in fiscal year 2025, reflecting core business profitability. This is down 59.9 percentage points from the prior year.
DOCGO INC's net profit margin was -61.0% in fiscal year 2025, showing the share of revenue converted to profit. This is down 63.1 percentage points from the prior year.
DOCGO INC's ROE was -136.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 140.5 percentage points from the prior year.
Not reported for fiscal year 2025.
Capital Allocation
DOCGO INC invested $13.6M in research and development in fiscal year 2025. This represents an increase of 17.0% from the prior year.
DOCGO INC spent $10.8M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 21.3% from the prior year.
DOCGO INC invested $4.5M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 25.8% from the prior year.
DCGO Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $73.4M-2.8% | $75.6M+0.8% | $74.9M+5.8% | $70.8M-11.9% | $80.4M-16.3% | $96.0M-20.5% | $120.8M-12.9% | $138.7M |
| R&D Expenses | $3.4M-7.0% | $3.7M-1.8% | $3.8M+18.1% | $3.2M+8.0% | $3.0M-18.7% | $3.6M-1.3% | $3.7M+17.2% | $3.1M |
| SG&A Expenses | $29.7M-3.5% | $30.8M-21.4% | $39.2M+30.3% | $30.1M-3.7% | $31.2M-5.0% | $32.9M-6.1% | $35.0M+21.7% | $28.8M |
| Operating Income | -$17.9M+4.2% | -$18.7M+82.1% | -$104.6M-149.1% | -$42.0M-140.1% | -$17.5M-24.9% | -$14.0M-87.3% | -$7.5M-173.7% | $10.1M |
| Income Tax | $56K+191.1% | $19K-99.9% | $30.7M+327.4% | -$13.5M-192.0% | -$4.6M-24.3% | -$3.7M-447.5% | $1.1M-76.1% | $4.5M |
| Net Income | -$15.8M-7.2% | -$14.8M+90.0% | -$148.0M-433.1% | -$27.8M-148.9% | -$11.2M-18.6% | -$9.4M+4.9% | -$9.9M-280.0% | $5.5M |
| EPS (Diluted) | -$0.16-6.7% | -$0.15+88.9% | -$1.35-382.1% | -$0.28-154.5% | -$0.11-22.2% | -$0.09 | -$0.04 | $0.05 |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, Interest Expense.
DCGO Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $186.8M-10.7% | $209.2M-3.6% | $217.1M-38.6% | $353.8M-13.3% | $408.3M-5.2% | $430.8M-5.4% | $455.6M-7.7% | $493.9M |
| Current Assets | $119.8M-13.3% | $138.2M-9.3% | $152.4M-19.9% | $190.2M-19.6% | $236.6M-9.9% | $262.5M-13.8% | $304.5M-7.3% | $328.3M |
| Cash & Equivalents | $25.2M-29.3% | $35.7M-30.1% | $51.0M-30.5% | $73.4M-29.6% | $104.2M+31.8% | $79.0M-11.5% | $89.2M-0.2% | $89.5M |
| Goodwill | $0 | $0 | $0-100.0% | $41.1M-17.7% | $50.0M+0.8% | $49.6M+4.5% | $47.4M-0.9% | $47.9M |
| Total Liabilities | $91.0M-7.1% | $98.0M+7.4% | $91.2M-2.0% | $93.1M-22.7% | $120.5M-6.5% | $128.9M-8.2% | $140.4M-16.9% | $169.0M |
| Current Liabilities | $72.3M-6.3% | $77.2M+14.4% | $67.5M-8.3% | $73.6M-26.5% | $100.1M-6.9% | $107.6M-11.7% | $121.8M-18.9% | $150.2M |
| Long-Term Debt | $159K-7.2% | $172K-6.6% | $184K-6.1% | $196K | $0-100.0% | $2K-58.7% | $5K-75.6% | $21K |
| Total Equity | $119.1M-10.0% | $132.3M-8.1% | $144.0M-46.8% | $270.5M-9.0% | $297.3M-3.9% | $309.3M-3.6% | $320.9M-1.3% | $325.2M |
| Retained Earnings | -$214.4M-8.0% | -$198.6M-8.0% | -$183.8M-269.6% | -$49.7M-126.4% | -$22.0M-103.2% | -$10.8M-670.8% | -$1.4M-175.4% | $1.9M |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable.
DCGO Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$9.2M-98.4% | -$4.7M+55.5% | -$10.5M-731.0% | $1.7M-95.1% | $34.0M+269.4% | $9.2M-27.5% | $12.7M-59.2% | $31.1M |
| Capital Expenditures | $321K-25.4% | $430K-71.3% | $1.5M+70.9% | $876K-23.2% | $1.1M+10.8% | $1.0M+42.1% | $725K-82.9% | $4.2M |
| Free Cash Flow | -$9.6M-87.9% | -$5.1M+57.5% | -$12.0M-1628.9% | $783K-97.6% | $32.9M+301.9% | $8.2M-31.7% | $12.0M-55.4% | $26.9M |
| Investing Cash Flow | -$3.9M-333.6% | $1.7M+112.7% | -$13.1M-1289.0% | $1.1M+105.0% | -$21.8M-312.1% | -$5.3M+2.0% | -$5.4M-231.7% | -$1.6M |
| Financing Cash Flow | -$1.7M+32.5% | -$2.5M-32.2% | -$1.9M+94.4% | -$33.1M-347.7% | -$7.4M+13.3% | -$8.5M-8.4% | -$7.9M-6.9% | -$7.4M |
| Share Buybacks | $0 | $0 | $0 | $0-100.0% | $5.1M-11.7% | $5.8M+114.8% | $2.7M+106.6% | $1.3M |
Not reported in any period shown, so not listed: Dividends Paid.
DCGO Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | -24.4%+0.4pp | -24.8% | -139.6% | -59.3%-37.5pp | -21.7%-7.2pp | -14.6%-8.4pp | -6.2%-13.5pp | 7.3% |
| Net Margin | -21.6%-2.0pp | -19.5% | -197.6% | -39.2%-25.4pp | -13.9%-4.1pp | -9.8%-1.6pp | -8.2%-12.2pp | 4.0% |
| Return on Equity | -13.3%-2.1pp | -11.2%+91.6pp | -102.8%-92.5pp | -10.3%-6.5pp | -3.8%-0.7pp | -3.0%0.0pp | -3.1%-4.8pp | 1.7% |
| Return on Assets | -8.5%-1.4pp | -7.1%+61.1pp | -68.2%-60.3pp | -7.8%-5.1pp | -2.7%-0.6pp | -2.2%0.0pp | -2.2%-3.3pp | 1.1% |
| Current Ratio | 1.66-0.1x | 1.79-0.5x | 2.26-0.3x | 2.59+0.2x | 2.36-0.1x | 2.44-0.1x | 2.50+0.3x | 2.19 |
| Debt-to-Equity | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.00 |
| FCF Margin | -13.0%-6.3pp | -6.7%+9.2pp | -16.0%-17.1pp | 1.1%-39.8pp | 40.9%+32.4pp | 8.5%-1.4pp | 9.9%-9.5pp | 19.4% |
Not reported in any period shown, so not listed: Gross Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin.
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Where DOCGO INC Ranks
Frequently Asked Questions
What is DOCGO INC's annual revenue?
DOCGO INC (DCGO) reported $322.2M in total revenue for fiscal year 2025. This represents a -47.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is DOCGO INC's revenue growing?
DOCGO INC (DCGO) revenue declined by 47.7% year-over-year, from $616.6M to $322.2M in fiscal year 2025.
Is DOCGO INC profitable?
No, DOCGO INC (DCGO) reported a net income of -$196.4M in fiscal year 2025, with a net profit margin of -61.0%.
What is DOCGO INC's EBITDA?
DOCGO INC (DCGO) had EBITDA of -$162.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does DOCGO INC have?
As of fiscal year 2025, DOCGO INC (DCGO) had $51.0M in cash and equivalents against $184K in long-term debt.
What is DOCGO INC's operating margin?
DOCGO INC (DCGO) had an operating margin of -55.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is DOCGO INC's net profit margin?
DOCGO INC (DCGO) had a net profit margin of -61.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is DOCGO INC's return on equity (ROE)?
DOCGO INC (DCGO) has a return on equity of -136.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is DOCGO INC's free cash flow?
DOCGO INC (DCGO) generated $29.9M in free cash flow during fiscal year 2025. This represents a -55.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is DOCGO INC's operating cash flow?
DOCGO INC (DCGO) generated $34.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are DOCGO INC's total assets?
DOCGO INC (DCGO) had $217.1M in total assets as of fiscal year 2025, including both current and long-term assets.
What are DOCGO INC's capital expenditures?
DOCGO INC (DCGO) invested $4.5M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does DOCGO INC spend on research and development?
DOCGO INC (DCGO) invested $13.6M in research and development during fiscal year 2025.
What is DOCGO INC's current ratio?
DOCGO INC (DCGO) had a current ratio of 2.26 as of fiscal year 2025, which is generally considered healthy.
What is DOCGO INC's debt-to-equity ratio?
DOCGO INC (DCGO) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is DOCGO INC's return on assets (ROA)?
DOCGO INC (DCGO) had a return on assets of -90.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is DOCGO INC's Altman Z-Score?
DOCGO INC (DCGO) has an Altman Z-Score of -1.69, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is DOCGO INC's Piotroski F-Score?
DOCGO INC (DCGO) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are DOCGO INC's earnings high quality?
DOCGO INC (DCGO) reported a net loss of $196.4M while generating $34.5M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is DOCGO INC?
DOCGO INC (DCGO) scores 38 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.