Start here if you're new
what it is
DocGo sends clinicians and medical transport to patients instead of making patients come to a building.
how it gets paid
Last year Docgo made $617M in revenue. Mobile health visits was the main engine at $278M, or 45% of sales.
what just happened
DocGo reported $247M in quarterly revenue, but EPS fell to -$0.49.
At a glance
C++ balance sheet — some cracks in the foundation
6.1% return on capital — nothing to write home about
$0.18 fy2024 eps est
$617M fy2024 rev est
7.2% operating margin
xvary composite: 32/100 — weak
What they do
DocGo sends clinicians and medical transport to patients instead of making patients come to a building.
DocGo wins by meeting patients where they are. It operates in more than 30 states and the UK, and its network includes more than 600 clinicians. That reach matters because mobile care means care at your door instead of a clinic visit, so your health system can move faster with less fixed real estate.
How they make money
$617M
annual revenue
Mobile health visits
$278M
Non-emergency transport
$185M
Emergency response services
$93M
UK and other contracts
$61M
The products that matter
urgent and preventative care
Mobile Health Services
$542M · 88% of revenue
this is the core business at $542M of the $617M total. management says gross margins should improve in 2026, which tells you margin recovery matters as much as growth from here.
88% of revenue
medical transport and ambulances
Transportation Services
$75M · 12% of revenue
this $75M segment grew 5.4% last year. that's useful ballast, but not enough to offset a major shock in the much larger mobile health business.
+5.4% growth
Key numbers
$0.18
FY2024 EPS
That is the FY2024 earnings estimate. At a $0.89 stock price, you are paying about 4.9x that figure.
$617M
FY2024 revenue
Revenue → total sales → so what: the company trades at roughly 0.1x sales on a $64M market cap.
7.2%
operating margin
Operating margin → profit after running the business → so what: DocGo is profitable on paper, but the cushion is thin.
$20M
long-term debt
Debt equals 23% of capital, which is manageable, but not the kind of balance sheet that forgives repeated losses.
Financial health
C++
strength
- balance sheet grade C++ — below average — limited financial resources
- risk rank 5 — safer than 5% of stocks
- price stability 5 / 100
- long-term debt $20M (23% of capital)
C++ — below average. watch for debt servicing and cash burn.
Total return vs. market
Return history isn't available for DCGO right now.
source: institutional data · return history unavailable
What just happened
missed estimates
DocGo reported $247M in quarterly revenue, but EPS fell to -$0.49.
Revenue grew 249% vs. prior year based on the SEC data provided. The problem is the bottom line: quarterly EPS swung from positive quarters in 2024 to a sharp reported loss in the latest quarter.
$247M
revenue
-$0.49
eps
7.2%
operating margin
the number that mattered
The number that mattered was -$0.49 EPS, because a cheap stock stops being cheap fast if losses replace the $0.18 full-year earnings estimate.
source: company earnings report, 2026
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What could go wrong
the #1 risk here is losing another large public-sector mobile health contract while the company is still trying to fund its way to late-2026 profitability.
med
contract concentration
A prior lost New York contract caused a 50% revenue drop. That's not normal volatility. That's the business model telling you a few large relationships matter a lot.
A similar hit now could put roughly $62M–$93M of annual revenue at risk based on current 2026 guidance.
med
profitability keeps slipping
Management now points to profitability in late 2026, but the latest quarter still lost $0.53 per share. With a C++ balance sheet and a $64M equity value, time is not free.
If late 2026 becomes 2027, dilution risk and financing pressure move from background noise to the main event.
med
the revenue reset is bigger than it looks
This page shows a $617M annual revenue base, while management's 2026 outlook is $290M–$310M. That gap tells you the company is not marching from strength to strength. It is rebuilding after a break.
If base business growth misses the 12–20% target, the valuation may stay cheap because the business stays broken.
The combined risk picture is simple: another contract shock or another delay to profitability would hit a company worth just ~$64M and already operating with low financial flexibility.
source: institutional data · regulatory filings · risk analysis
Pay attention to
earnings
Q1 2026 earnings
Expected in late May or early June 2026. The number that matters is not just revenue — it is whether the path to late-2026 profitability looks shorter or longer.
growth
base business growth versus the 12–20% promise
Management gave the market a very specific range. If reported growth starts missing that band early, the reset story loses credibility fast.
strategic
strategic alternatives review
The company said it is exploring alternatives, but gave no timeline. Any update here could matter as much as an operating result because the equity value is only about $64M.
contracts
renewals and new public-sector wins
A prior contract loss cut revenue in half. That makes every major renewal and award more than routine housekeeping — it is the clearest read on whether revenue can stay above the $290M–$310M guide.
Analyst rankings
balance sheet
C++
Below average balance sheet grade. In human-speak, this company does not have much room for another ugly surprise.
risk rank
5
Safer than 5% of stocks. That means riskier than 95% of them.
price stability
5 / 100
The stock has almost no stability cushion. You should expect sharp moves around contract and earnings headlines.
xvary composite
32 / 100
Weak overall. Low valuation helps, but risk, momentum, and visibility drag the score back down.
source: institutional data
Institutional activity
institutional ownership data for DCGO is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$1
current price
n/a
target midpoint · n/a from current
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