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DocGo (DCGO) earnings and revenue breakdown

Latest: Q2 2026 · 10-Q filed Aug 17, 2026 · DocGo (DCGO) Q2 2026 earnings results →

Q2 2026 Revenue down 9% year over year to $73.4M · 25¢ of every $1 of revenue lost · operating margin -24.4%

DocGo made $73.4M in Q2 2026 (-9% Y/Y): Transportation Services $52.0M, Mobile Health Services $21.4M. Operating margin -24.4%, net loss $18.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 17, 2026.

Revenue$73.4M
Year over year-9%
Operating margin-24.4%
Net earnings−$18.0M
Operating cash flow−$9.2M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $73.4M in Q2 2026, down 9% year over year and down 3% from the previous quarter. Transportation Services was the largest line at 71% of revenue. Mobile Health Services lost $9.4M year over year (down 30%), 134% of the total change.

Operating costs exceeded revenue by $17.9M, an operating margin of -24.4%. Total costs fell 7% while revenue fell 9%. The fastest-growing cost line was Research & development (+17%). The quarter ended with a net loss of $18.0M, wider than the previous quarter's $16.7M loss. Minority interests bore $2.2M of it: to shareholders the quarter was a loss of $15.8M.

Operating cash flow was −$9.2M. Non-cash charges added back $2.7M of depreciation and amortization and $2.7M of share-based compensation. Working capital and other items added $3.4M. Capital expenditures of $321K exceeded it, leaving free cash flow of −$9.6M.

Quarterly history

DocGo revenue by quarterDocGo revenue by quarter$121MQ4 2024$96.0MQ1 2025$80.4MQ2 2025$70.8MQ3 2025$74.9MQ4 2025$75.6MQ1 2026$73.4MQ2 2026
DocGo net earnings by quarterDocGo net earnings by quarter−$7.6MQ4 2024−$11.1MQ1 2025−$13.3MQ2 2025−$29.7MQ3 2025−$142MQ4 2025−$16.7MQ1 2026−$18.0MQ2 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 202610-QAug 17, 2026$73.4M-9%-24.4%−$18.0M−$9.2M
Q1 202610-QMay 11, 2026$75.6M-21%-24.8%−$16.7M−$4.7M
Q4 202510-KMar 16, 2026$74.9M-38%-139.6%−$142M−$10.5M
Q3 202510-QNov 10, 2025$70.8M-49%-59.3%−$29.7M$1.7M
Q2 202510-QAug 7, 2025$80.4M-51%-21.7%−$13.3M$34.0M
Q1 202510-QMay 8, 2025$96.0M-50%-14.6%−$11.1M$9.2M
Q4 202410-KFeb 27, 2025$121M-39%-6.2%−$7.6M$12.7M

Charts

DocGo: revenue growth, year over year and quarter over quarterDocGo: revenue growth, year over year and quarter over quarterY/YQ/Q-39%Q4 2024-50%-21%Q1 2025-51%-16%Q2 2025-49%-12%Q3 2025-38%+6%Q4 2025-21%+1%Q1 2026-9%-3%Q2 2026
Latest (Q2 2026): Y/Y -9%, Q/Q -3%.
DocGo: where the cash came from (+) and went (−), TTM to Q2 2026DocGo: where the cash came from (+) and went (−), TTM to Q2 2026Cash drawn (+) / kept (−)$76.4MOther financing−$31.6MOperating cash flow−$22.7MAcquisitions−$12.7MNet borrowing (+) / repaid (−)−$5.7MCapital spending−$3.1MOther investing$1.6MPartners−$1.2MTaxes on employees’ shares−$509KExchange rates−$442KAsset & business sales$69K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
DocGo: profit against cash, quarter by quarterDocGo: profit against cash, quarter by quarterNet incomeOperating cash flow$4.5M$31.1MQ3 2024−$7.6M$12.7MQ4 2024−$11.1M$9.2MQ1 2025−$13.3M$34.0MQ2 2025−$29.7M$1.7MQ3 2025−$142M−$10.5MQ4 2025−$16.7M−$4.7MQ1 2026−$18.0M−$9.2MQ2 2026
Latest (Q2 2026): Net income −$18.0M, Operating cash flow −$9.2M.
DocGo: diluted shares by fiscal yearDocGo: diluted shares by fiscal year58MFY202095MFY2021103MFY2022106MFY2023109MFY202499MFY2025
+69.7% since FY2020: more shares outstanding (issuance, stock pay).
DocGo: long-term debt falling due (FY2025)DocGo: long-term debt falling due (FY2025)$52K2026$50K2027$54K2028$59K2029$21K2030
Cash $51.0M, short-term investments —, long-term debt $236K at 2025-12-31.
DocGo in its industry: growth against margin (14 companies, SIC 8000)DocGo in its industry: growth against margin (14 companies, SIC 8000)revenue growth, year over year →↑ operating marginmedian +13%median 3%PRVALFSTPIIIPNTGINNVUSPHWGSOMDATalkspace, Inc.VSEELDDDATPCNPLYDCGO (-9%, -24%)
Services-Health Services; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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Customers and suppliers named in filings

Buys from

About DocGo

DocGo is leading the proactive healthcare revolution. We are democratizing access with our innovative care delivery platform that includes mobile health services, virtual care management and ambulance services. Our goal is to deliver healthcare at any address and help reshape the traditional healthcare system, driven by our mission to bring high quality, highly accessible care to all. DocGo’s proprietary technology platform, dedicated network of certified health professionals, including virtual care clinicians, and robust fleet of medical response vehicles provide services in all 50 states and the United Kingdom. DocGo’s vertically integrated approach helps elevate the quality of patient care and drive business efficiencies for municipalities, hospital networks and health insurance providers.

In its own words, from its 10-K, filed Mar 16, 2026.

DocGo against its Services-Health Services peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -9% against the peers' median +13%. Operating margin: -24.4% against the peers' median 5.5%.

CompanyQuarterRevenueY/YOp. margin
DCGO DocGoQ2 2026$73.4M-9%-24.4%
PRVA Privia Health GroupQ3 2026$657M+13%3.1%
LFST LifeStance Health GroupQ3 2026$456M+25%7.3%
PIII P3 Health PartnersQ2 2026$386M+9%10.7%
PNTG Pennant GroupQ3 2026$302M+32%5.5%
INNV InnovAge HoldingQ1 FY27$265M+12%7.6%
USPH U S Physical TherapyQ3 2026$223M+13%11.3%
WGS GeneDx HoldingsQ2 2026$114M+11%-15.3%
OMDA Omada HealthQ3 2026$91.3M+34%5.3%

Source: DocGo 10-Q on SEC EDGAR · CIK 1822359 · Services-Health Services

13F: who owns DCGO and who is buying

Largest holders of DCGO (13F)Largest holders of DCGO (13F)Vanguard Group$4.5MVanguard Capital Management LLC$1.9MP.A.W. Capital$1.8MKnott David M Jr$1.4MCitadel Advisors LLC$1.2MRenaissance Technologies LLC$1.2MS Squared Technology, LLC$1.1MAcadian Asset Management LLC$918KAQR Capital Management LLC$882KBlackRock$750K
Funds' net buying of DCGO by quarter (13F)Funds' net buying of DCGO by quarter (13F)$5.7M2024-09$2.3M2024-12$5.0M2025-03−$10.5M2025-06−$3.8M2025-09−$6.1M2025-12$416K2026-03−$2.2M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on DCGO

History

Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results

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