Filing Flows › DocGo (DCGO) › Q4 2025
DocGo (DCGO) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 16, 2026
DocGo (DCGO) reported revenue of $74.9M for the fourth quarter 2025 (Q4 2025), -38% from a year earlier and +6% from the quarter before. Operating margin was -139.6%, net loss $142M (190.0% of revenue).
DocGo, Q4 2025: revenue $74.9M (-38% year over year), operating margin -139.6%, net loss $142M, operating cash flow −$10.5M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $74.9M | +6% | -38% |
| Operating profit | −$105M | — | — |
| Net earnings | −$142M | — | — |
| Operating cash flow | −$10.5M | -731% | -182% |
What changed
Revenue was $74.9M in Q4 2025, down 38% year over year and up 6% from the previous quarter. Transportation Services was the largest line at 67% of revenue.
Operating costs exceeded revenue by $104.6M, an operating margin of -139.6%. Total costs grew 40% against a revenue fall of 38%. The fastest-growing cost line was Other operating costs (+53%). The quarter ended with a net loss of $142.3M, wider than the previous quarter's $29.7M loss. Minority interests bore $8.3M of it: to shareholders the quarter was a loss of $134.1M.
Operating cash flow was −$10.5M. Non-cash charges added back $3.9M of depreciation and amortization and $3.1M of share-based compensation. Working capital and other items added $124.8M. Capital expenditures of $1.5M exceeded it, leaving free cash flow of −$12.0M.
Questions
What was DocGo's revenue in the fourth quarter 2025?
DocGo (DCGO) reported revenue of $74.9M for the fourth quarter 2025 (Q4 2025), -38% from a year earlier and +6% from the quarter before.
Was DocGo profitable in the fourth quarter 2025?
Operating loss was $105M (-139.6% of revenue) and net loss $142M.
Source: DocGo 10-K on SEC EDGAR.