DocGo (DCGO) AI Stock Analysis

• Market Cap: $89.86M
• Dividend Yield: N/A
• Average Volume (3M): 838.51K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.07
• Revenue Growth: -47.03%
• EPS Growth: -274.41%
• Country: US
• Employees: 3,404
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Care Facilities
• EPS (TTM): -0.28
• Shares Outstanding: 97,813,370
• 10 Day Avg. Volume: 658,281
• 30 Day Avg. Volume: 838,512
• PEG Ratio: 0.11
• Price to Book (P/B): 1.35
• Price to Sales (P/S): 0.70
• P/FCF Ratio: 6.73
• Enterprise Value/Market Cap: 0.88
• Enterprise Value/Revenue: 0.22
• Enterprise Value/Gross Profit: 0.69
• Enterprise Value/Ebitda: -1.63
• 1Y Price Target: $3.13
• Price Target Upside: 240.22% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): -0.49
• Revenue Forecast (FY): $317.43M

• Rating: 49 Neutral
• Price Target: $0.93 ▲(1.52% Upside)

DocGo's overall stock score is primarily impacted by its financial performance challenges, including negative margins and cash flow issues. While strategic acquisitions and a strong balance sheet offer growth potential, technical indicators and valuation concerns weigh down the score.

Positive Factors

Strategic Acquisitions

The acquisition of SteadyMD enhances DocGo's scalability and service offerings, strengthening its market position in telehealth and expanding its reach.

Strong Balance Sheet

A strong balance sheet provides financial stability and flexibility, enabling DocGo to invest in growth opportunities and weather economic fluctuations.

Expansion of Payer and Provider Services

Growth in payer and provider services, bolstered by acquisitions and new contracts, indicates a strengthening business model and revenue diversification.

Negative Factors

Year-over-Year Revenue Decline

A significant revenue decline due to project sunsets highlights challenges in maintaining consistent revenue streams, impacting long-term growth prospects.

Adjusted EBITDA Loss

Ongoing EBITDA losses reflect challenges in achieving profitability, which may hinder investment capacity and strategic flexibility over time.

Decreased Gross Margins in Mobile Health

Declining gross margins in key segments suggest cost pressures and potential inefficiencies, which could affect long-term profitability and competitive positioning.

DocGo Business Overview & Revenue Model

Company Description

DocGo (DCGO) is a leading provider of mobile health services and innovative healthcare solutions, primarily operating within the telehealth and healthcare logistics sectors. The company specializes in delivering high-quality healthcare services directly to patients at home or in remote locations, leveraging technology to enhance patient care. Its core offerings include on-site medical services, telehealth consultations, and patient transport services, aimed at improving access to care and optimizing healthcare delivery.

How the Company Makes Money

DocGo generates revenue through multiple channels, primarily by billing for its healthcare services provided to patients and healthcare facilities. Key revenue streams include direct payments from patients for telehealth consultations, contracts with hospitals and clinics for on-site medical services, and partnerships with healthcare organizations to provide mobile health solutions. Additionally, the company may receive reimbursements from insurance providers for covered services. Significant partnerships with hospitals and health systems enhance its service offerings and expand its market reach, contributing to overall revenue growth.

DocGo Financial Statement Overview

Summary

DocGo's financial performance is challenged by negative profit margins and cash flow issues, despite strong revenue growth. The balance sheet shows manageable leverage but declining returns, and cash flow analysis reveals liquidity concerns.

Income Statement

DocGo's income statement shows significant volatility. The TTM data indicates a negative net profit margin and EBIT margin, reflecting substantial losses. Despite a strong revenue growth rate, profitability remains a concern with negative EBIT and EBITDA margins. Historical data shows fluctuating revenue growth and declining margins, suggesting challenges in maintaining profitability.

Balance Sheet

The balance sheet presents a moderate financial position. The debt-to-equity ratio is relatively low, indicating manageable leverage. However, the return on equity has turned negative in the TTM period, highlighting inefficiencies in generating returns for shareholders. The equity ratio remains stable, suggesting a solid asset base.

Cash Flow

Cash flow analysis reveals significant challenges. The TTM period shows negative operating and free cash flows, with a declining free cash flow growth rate. The operating cash flow to net income ratio is below 1, indicating cash flow issues. Historical data shows inconsistent free cash flow growth, raising concerns about liquidity management.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	368.09M	616.56M	624.29M	440.52M	318.72M	94.09M
Gross Profit	114.89M	213.57M	195.38M	154.72M	109.75M	31.35M
EBITDA	-48.53M	45.56M	31.49M	32.40M	28.07M	-9.25M
Net Income	-51.59M	19.99M	6.86M	34.58M	23.74M	-14.36M
Balance Sheet
Total Assets	353.78M	455.62M	490.45M	393.28M	309.60M	100.17M
Cash, Cash Equivalents and Short-Term Investments	73.36M	89.24M	59.29M	157.34M	175.54M	32.42M
Total Debt	29.46M	57.19M	46.50M	19.91M	16.51M	13.89M
Total Liabilities	93.12M	140.44M	185.28M	114.35M	82.55M	33.23M
Stockholders Equity	270.53M	320.92M	300.79M	273.23M	219.58M	55.00M
Cash Flow
Free Cash Flow	51.83M	64.50M	-74.35M	23.37M	-8.60M	-16.97M
Operating Cash Flow	57.81M	70.34M	-64.22M	28.87M	-1.95M	-10.65M
Investing Cash Flow	-31.58M	-10.87M	-29.88M	-38.45M	-8.59M	-6.04M
Financing Cash Flow	-56.81M	-24.15M	1.12M	-6.18M	155.21M	-812.09K

DocGo Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.92
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DCGO, the sentiment is Negative. The current price of 0.92 is below the 20-day moving average (MA) of 0.99, below the 50-day MA of 1.10, and below the 200-day MA of 1.66, indicating a bearish trend. The MACD of -0.04 indicates Negative momentum. The RSI at 38.24 is Neutral, neither overbought nor oversold. The STOCH value of 7.09 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DCGO.

DocGo Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TALK	61 Neutral	$581.45M	143.85	3.74%	―	18.37%	―
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
AMN	50 Neutral	$628.83M	―	-35.90%	―	-11.42%	-617.31%
DCGO	49 Neutral	$89.86M	―	-17.32%	―	-47.03%	-274.41%
BTMD	47 Neutral	$123.29M	3.40	―	―	1.34%	185.03%
AGL	42 Neutral	$298.08M	―	-73.31%	―	5.21%	5.21%
PIII	39 Underperform	$60.81M	-0.17	-257.39%	―	-2.15%	-6.72%

DocGo Corporate Events

DocGo Extends Share Repurchase Program to 2026

On December 12, 2025, DocGo Inc. announced an extension of its share repurchase program, allowing the company to buy back up to $26 million in common stock until June 30, 2026. The extension provides DocGo with flexibility in managing its capital structure, potentially benefiting shareholders by supporting stock price stability and reflecting confidence in the company’s financial health.

DocGo Acquires SteadyMD to Expand Telehealth Services

On October 20, 2025, DocGo Inc. announced the acquisition of SteadyMD, a virtual care platform, for up to $25 million. This strategic move combines DocGo’s mobile health services with SteadyMD’s telehealth capabilities, expanding their reach across all 50 states and enhancing their ability to deliver efficient patient care. The acquisition is expected to generate approximately $25 million in revenue for SteadyMD in 2025, with plans to update financial guidance in upcoming earnings releases. This acquisition marks a significant step in DocGo’s mission to provide comprehensive last-mile healthcare solutions and improve access and outcomes for patients.