DocGo Reports Q2 2025 Results Amid Revenue Decline

DocGo, Inc. ( (DCGO) ) has released its Q2 earnings. Here is a breakdown of the information DocGo, Inc. presented to its investors.

DocGo, Inc. is a prominent player in the healthcare sector, specializing in technology-enabled mobile health and medical transportation services. The company aims to revolutionize traditional healthcare delivery by offering high-quality, accessible care through its innovative platform.

In its latest earnings report for the second quarter of 2025, DocGo reported a significant decrease in revenue to $80.4 million from $164.9 million in the same quarter of the previous year. This decline was attributed to the planned wind-down of migrant-related programs. Despite the drop in revenue, the company increased its total cash balance to $128.7 million and reiterated its full-year 2025 revenue and adjusted EBITDA guidance.

Key financial metrics showed a net loss of $13.3 million for the quarter, compared to a net income of $5.9 million in the previous year. The adjusted EBITDA loss stood at $6.1 million, a stark contrast to the $17.2 million adjusted EBITDA in the second quarter of 2024. The company’s transportation services revenue saw a slight increase, while its mobile health services revenue experienced a sharp decline.

Strategically, DocGo made strides in expanding its care gap closure services, surpassing 1.2 million patients assigned for these services. The company launched new programs and expanded existing relationships with major insurance companies and public health plans, indicating a focus on long-term growth potential. Additionally, DocGo was recognized as a top healthcare employer and renewed several key contracts.

Looking ahead, DocGo’s management remains optimistic about the company’s growth prospects, anticipating entry into new states and increased revenues in the transportation vertical. The company is also focused on cost management and operational efficiencies to achieve profitability by the second half of 2026.