Filing Flows › DocGo (DCGO) › Q3 2025
DocGo (DCGO) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 10, 2025
DocGo (DCGO) reported revenue of $70.8M for the third quarter 2025 (Q3 2025), -49% from a year earlier and -12% from the quarter before. Operating margin was -59.3%, net loss $29.7M (41.9% of revenue).
DocGo, Q3 2025: revenue $70.8M (-49% year over year), operating margin -59.3%, net loss $29.7M, operating cash flow $1.7M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $70.8M | -12% | -49% |
| Operating profit | −$42.0M | — | — |
| Net earnings | −$29.7M | — | — |
| Operating cash flow | $1.7M | -95% | -95% |
| Free cash flow | $783K | -98% | -97% |
What changed
Revenue was $70.8M in Q3 2025, down 49% year over year and down 12% from the previous quarter. Transportation Services was the largest line at 71% of revenue. Mobile Health Services lost $70.0M year over year (down 77%), 103% of the total change.
Operating costs exceeded revenue by $42.0M, an operating margin of -59.3%. Total costs fell 12% while revenue fell 49%. The quarter ended with a net loss of $29.7M, wider than the previous quarter's $13.3M loss. Minority interests bore $1.9M of it: to shareholders the quarter was a loss of $27.8M.
Operating cash flow was $1.7M (down 95% year over year). Non-cash charges added back $4.0M of depreciation and amortization and $4.6M of share-based compensation. Working capital and other items added $22.7M. Capital expenditures of $876K left free cash flow of $783K.
Questions
What was DocGo's revenue in the third quarter 2025?
DocGo (DCGO) reported revenue of $70.8M for the third quarter 2025 (Q3 2025), -49% from a year earlier and -12% from the quarter before.
Was DocGo profitable in the third quarter 2025?
Operating loss was $42.0M (-59.3% of revenue) and net loss $29.7M.
Source: DocGo 10-Q on SEC EDGAR.