Filing Flows › DocGo (DCGO) › Q2 2025
DocGo (DCGO) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
DocGo (DCGO) reported revenue of $80.4M for the second quarter 2025 (Q2 2025), -51% from a year earlier and -16% from the quarter before. Operating margin was -21.7%, net loss $13.3M (16.5% of revenue).
DocGo, Q2 2025: revenue $80.4M (-51% year over year), operating margin -21.7%, net loss $13.3M, operating cash flow $34.0M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $80.4M | -16% | -51% |
| Operating profit | −$17.5M | — | — |
| Net earnings | −$13.3M | — | — |
| Operating cash flow | $34.0M | +269% | -8% |
| Free cash flow | $33.3M | +330% | +4% |
What changed
Revenue was $80.4M in Q2 2025, down 51% year over year and down 16% from the previous quarter. Transportation services was the largest line at 62% of revenue. Mobile health services lost $86.0M year over year (down 74%), 102% of the total change.
Operating costs exceeded revenue by $17.5M, an operating margin of -21.7%. Total costs fell 37% while revenue fell 51%. The fastest-growing cost line was Research & development (+25%). The quarter ended with a net loss of $13.3M, wider than the previous quarter's $11.1M loss. Minority interests bore $2.1M of it: to shareholders the quarter was a loss of $11.2M.
Operating cash flow was $34.0M (down 8% year over year). Non-cash charges added back $4.0M of depreciation and amortization and $4.8M of share-based compensation. Working capital and other items added $38.5M. Capital expenditures of $703K left free cash flow of $33.3M.
Questions
What was DocGo's revenue in the second quarter 2025?
DocGo (DCGO) reported revenue of $80.4M for the second quarter 2025 (Q2 2025), -51% from a year earlier and -16% from the quarter before.
Was DocGo profitable in the second quarter 2025?
Operating loss was $17.5M (-21.7% of revenue) and net loss $13.3M.
Source: DocGo 10-Q on SEC EDGAR.