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DocGo cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$9.6M in Q2 2026 · −$25.8M over twelve months

Operating cash flow−$9.2M
Capital spending−$321K
Free cash flow−$9.6M

Analysis

In Q2 2026, DocGo generated −$9.2M of operating cash flow and spent $321K on capital projects, leaving free cash flow of −$9.6M. That is $42.5M less than in Q2 2025 ($32.9M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$22.7M; the largest uses were other financing ($31.6M), operating cash flow ($22.7M), acquisitions ($12.7M); besides operations, cash came from other investing ($1.6M), asset & business sales ($69K); the cash balance fell by $76.4M.

Operating cash flow was −$9.2M against net income of −$18.0M. The largest differences: receivables +$6.6M, accrued liabilities −$4.5M, depreciation & amortization +$2.7M.

Free cash flow

DocGo: free cash flow by quarterDocGo: free cash flow by quarter$26.9MQ3 2024$12.0MQ4 2024$8.2MQ1 2025$32.9MQ2 2025$783KQ3 2025−$12.0MQ4 2025−$5.1MQ1 2026−$9.6MQ2 2026
Operating cash flow less capital spending.
DocGo: operating cash flow against capital spendingDocGo: operating cash flow against capital spendingOperating cash flowCapital spending$31.1M$4.2MQ3 2024$12.7M$725KQ4 2024$9.2M$1.0MQ1 2025$34.0M$1.1MQ2 2025$1.7M$876KQ3 2025−$10.5M$1.5MQ4 2025−$4.7M$430KQ1 2026−$9.2M$321KQ2 2026
Latest (Q2 2026): Operating cash flow −$9.2M, Capital spending $321K.

Capital allocation, year by year

DocGo: where the cash came from (up) and went (down), by fiscal yearDocGo: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow −$1.9MFY2021: Net borrowing −$2.7MFY2021: Shares issued $179MFY2021: Asset sales $75KFY2021: Capital spending −$18.6MFY2021: Acquisitions −$1.3M$179MFY2021FY2022: Operating cash flow $28.9MFY2022: Net borrowing −$4.0MFY2022: Shares issued $2.0MFY2022: Asset sales $3KFY2022: Capital spending −$94.2MFY2022: Acquisitions −$33.0MFY2022: Buybacks −$3.7M$30.9MFY2022FY2023: Operating cash flow −$64.5MFY2023: Shares issued $1.6MFY2023: Asset sales $747KFY2023: Capital spending −$51.0MFY2023: Acquisitions −$20.2M$2.3MFY2023FY2024: Operating cash flow $70.1MFY2024: Net borrowing $614KFY2024: Shares issued $26KFY2024: Asset sales $274KFY2024: Capital spending −$3.6MFY2024: Buybacks −$13.8M$71.0MFY2024FY2025: Operating cash flow $34.5MFY2025: Net borrowing −$35.2MFY2025: Asset sales $202KFY2025: Capital spending −$4.5MFY2025: Acquisitions −$16.4MFY2025: Buybacks −$10.8M$34.7MFY2025
Over these 5 years operating cash flow totalled $67.0M; the largest uses were capital spending ($172M) and acquisitions ($70.9M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$25.2M
Debt$207K
Net cash$25.0M
Due within a year$52K
Cash runway12 months

DocGo is burning cash: its operations consume cash, a free cash flow of −$25.8M a year at the current rate against $25.2M of cash and investments: a runway of about 12 months; $52K of debt also comes due within a year, which would need refinancing or new money before any new financing.

DocGo: debt maturities by year (FY2025)DocGo: debt maturities by year (FY2025)$52KYear 1$50KYear 2$54KYear 3$59KYear 4$21KYear 5
Principal due in each year as disclosed in the annual report, against $25.2M of cash and investments now.

Where the cash came from and went

DocGo: sources (+) and uses (−) of cash, Q2 2026DocGo: sources (+) and uses (−) of cash, Q2 2026Cash drawn (+) / kept (−)$14.6MOperating cash flow−$9.2MOther investing−$3.6MNet borrowing (+) / repaid (−)−$1.6MCapital spending−$321KExchange rates$137KOther financing−$76KAsset & business sales$23KTaxes on employees’ shares−$14K
DocGo: sources (+) and uses (−) of cash, TTM to Q2 2026DocGo: sources (+) and uses (−) of cash, 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 profit to cash

DocGo: net income to operating cash flow, Q2 2026DocGo: net income to operating cash flow, Q2 2026Net income−$18.0MDepreciation & amortization$2.7MStock-based pay$2.7MDeferred taxes$267KGains on disposals$40KOther non-cash−$123KReceivables$6.6MPayables$117KAccrued liabilities−$4.5MPrepaid and other assets$180KOperating cash flow−$9.2M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026−$9.2M−$321K——−$1.6M—$14.6M−$9.6M
Q1 2026−$4.7M−$430K——−$1.4M—$5.7M−$5.1M
Q4 2025−$10.5M−$1.5M−$12.7M—−$1.4M—$25.1M−$12.0M
Q3 2025$1.7M−$876K——−$31.3M—$30.9M$783K
Q2 2025$34.0M−$1.1M—−$5.1M−$1.4M—−$5.5M$32.9M
Q1 2025$9.2M−$1.0M−$3.6M−$5.8M−$1.3M—$4.3M$8.2M
Q4 2024$12.7M−$725K—−$2.7M−$1.2M$26K$1.2M$12.0M
Q3 2024$31.1M−$4.2M—−$1.3M−$1.1M—−$22.8M$26.9M

DocGo: income statement and cash flow

DocGo, Q2 2026: revenue $73.4M (-9% year over year), operating margin -24.4%. The chart follows the revenue to costs, profit and cash.

DocGo: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.