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DocGo (DCGO)
NASDAQ:DCGO
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DocGo
(NASDAQ:DCGO)
Rating:52Neutral
Price Target:
$1.50
▼(-1.32%Downside)
Positive Factors
Business Growth
The Transport business is performing well, with revenue increasing due to higher hospital volumes and more trips.
Business Prospects
The core payer and care gap closure business is performing well, with significant investments in Artificial Intelligence and automation.
Financial Stability
DocGo has cash and is collecting accounts receivable from the migrant business, which provides a financial runway to ramp up the payer and provider business.
Negative Factors
Business Challenges
The slowdown and low visibility in municipal work have led to a significant reduction in revenue guidance for 2025.
Financial Performance
The stock recommendation for DocGo has been downgraded to HOLD due to a disappointing first quarter and a significant downward revision to 2025 guidance.
Revenue Guidance
DocGo removed government-related mobile health revenue from 2025 guidance, significantly lowering its revenue expectations.
DocGo (DCGO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$150.64M
Dividend YieldN/A
Average Volume (3M)838.88K
Price to Earnings (P/E)12.7
Beta (1Y)0.87
Revenue Growth-26.00%
EPS Growth-103.18%
CountryUS
Employees3,404
SectorHealthcare
Sector Strength44
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)-0.09
Shares Outstanding99,104,330
10 Day Avg. Volume943,083
30 Day Avg. Volume838,880
Financial Highlights & Ratios
PEG Ratio1.55
Price to Book (P/B)2.62
Price to Sales (P/S)0.00
P/FCF Ratio30.62
Enterprise Value/Market Cap6.64
Enterprise Value/Revenue0.39
Enterprise Value/Gross Profit5.90
Enterprise Value/Ebitda5.26
Forecast
1Y Price Target
$3.11Price Target Upside104.61% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering5
DocGo Business Overview & Revenue Model
Company DescriptionDocGo, Inc. provides mobile health and medical transportation services for various health care providers in the United States and the United Kingdom. The company's transportation services include emergency response services; and non-emergency transport services comprise ambulance and wheelchair transportation services. It also offers mobile health services through its platform that are performed at home and offices; COVID-19 testing; and event services, which include on-site healthcare support at sporting events and concerts. DocGo, Inc. was incorporated in 2015 and is headquartered in New York, New York.
How the Company Makes MoneyDocGo makes money through a diversified revenue model that includes service fees for its mobile health services, telehealth consultations, and medical transportation offerings. The company partners with various healthcare providers, insurance companies, and government entities to deliver its services, often entering into contractual agreements that ensure a steady revenue stream. Key revenue streams include billing for patient visits, charges for transportation services, and fees for telehealth consultations. Additionally, partnerships with healthcare systems and insurers help DocGo expand its reach and customer base, contributing significantly to its earnings.
DocGo Earnings Call Summary
Earnings Call Date:May 08, 2025
(Q1-2025)
| % Change Since: -34.76%|
Next Earnings Date:Aug 11, 2025
Earnings Call Sentiment Neutral
The earnings call presents a mixed sentiment. While the company shows promising growth in its medical transportation and payer/provider verticals, supported by strong cash flow and a high net promoter score, it faces significant challenges with its government population health vertical, leading to a substantial downward revision in revenue guidance and an adjusted EBITDA loss.Q1-2025 Updates
Positive Updates
Growth in Medical Transportation
The medical transportation business is expected to generate $225 million in revenue for 2025, with record trip volume in Q1 and projections to reach 575,000 transports by year-end 2025 and 700,000 by the end of 2026.
Expansion in Payer and Provider Vertical
Payer and provider vertical is on track to generate $50 million in revenue for 2025. Notable growth in the Care Gap closure program with assigned lives increasing from 700,000 to 900,000 in one quarter.
Positive Cash Flow and Strong Balance Sheet
Despite a projected adjusted EBITDA loss, the company anticipates positive cash flow from operations and expects to end 2025 with over $110 million in cash, aiming to be debt-free.
High Net Promoter Score
DocGo Inc.'s mobile health net promoter score was 86, significantly higher than the industry average of 58.
Negative Updates
Government Population Health Vertical Challenges
Substantial uncertainty due to policy changes and budget cuts led to the removal of non-migrant government population health revenue from the 2025 guidance, resulting in a revised revenue forecast from $410-450 million to $300-330 million.
Decline in Overall Revenue
Total revenue for Q1 2025 was $96 million, down from $192.1 million in Q1 2024, primarily due to the wind-down of migrant-related projects.
Adjusted EBITDA Loss
Adjusted EBITDA for Q1 2025 was a loss of $3.9 million compared to $24.1 million in Q1 2024. The decline is attributed to the government vertical and increased SG&A as a percentage of revenue.
Increased SG&A Costs
SG&A costs were 46.7% of total revenues in Q1 2025 compared to 26.8% in Q1 2024, reflecting increased costs relative to declining revenues.
Company Guidance
During the DocGo Inc. First Quarter Earnings Conference Call, CEO Lee Bienstock provided guidance for 2025, noting significant changes due to the removal of government population health vertical revenues from their guidance. This decision was driven by uncertainties and delays in government contracts, resulting in a revised revenue projection of $300 million to $330 million, down from $410 million to $450 million, with an expected adjusted EBITDA loss of $20 million to $30 million. Despite this, the company anticipates $225 million in revenue from medical transportation, $50 million from payer and provider services, and $50 million from migrant healthcare services. Additionally, the medical transportation business is expected to achieve an adjusted EBITDA of over $15 million in 2025, with projected growth to 575,000 transports by year-end. DocGo also reported a total revenue of $96 million for Q1 2025, compared to $192.1 million in Q1 2024, and a net loss of $11.1 million compared to a net income of $10.6 million in the previous year. The company plans to achieve positive adjusted EBITDA by 2026 through cost-cutting measures and strategic reinvestments.DocGo Financial Statement Overview
Summary
DocGo has a stable balance sheet with moderate leverage and strong equity financing, as indicated by a healthy debt-to-equity ratio and high equity ratio. However, profitability issues are evident with declining revenue and negative net profit margins. Improved cash flow positions show potential for recovery, but operational challenges persist.Income Statement
Gross Profit Margin for TTM is 32.58%, while Net Profit Margin is negative at -0.12%, indicating operational challenges. Revenue has decreased from the previous year, showing a negative growth trend. EBIT and EBITDA margins have declined significantly in the TTM period, pointing to reduced profitability.45
Neutral
Balance Sheet
Debt-to-Equity Ratio for TTM is 0.20, showing moderate leverage. Return on Equity is negative at -0.21%, reflecting losses. Equity Ratio is healthy at 71.82%, indicating strong equity financing. Overall, the company maintains a stable financial structure with manageable debt levels.60
Neutral
Cash Flow
Free Cash Flow has grown significantly in the TTM period. Operating Cash Flow to Net Income Ratio is strong, suggesting robust cash generation relative to reported losses. The company has improved its cash flow position, enhancing financial flexibility.70
Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 520.50M | 616.56M | 624.29M | 440.52M | 318.72M | 94.09M |
| Gross Profit | 169.62M | 197.69M | 195.38M | 154.72M | 109.75M | 31.35M |
| EBITDA | 15.34M | 45.80M | 31.75M | 32.40M | 28.07M | -9.25M |
| Net Income | -640.62K | 19.99M | 6.86M | 34.58M | 23.74M | -14.80M |
Balance Sheet | ||||||
| Total Assets | 430.79M | 455.62M | 490.45M | 393.28M | 309.60M | 100.17M |
| Cash, Cash Equivalents and Short-Term Investments | 79.01M | 89.24M | 59.29M | 157.34M | 175.54M | 32.42M |
| Total Debt | 60.86M | 57.19M | 46.50M | 19.91M | 16.51M | 13.89M |
| Total Liabilities | 128.87M | 140.44M | 185.28M | 114.35M | 82.55M | 33.23M |
| Stockholders Equity | 309.34M | 320.92M | 300.79M | 273.23M | 219.58M | 55.00M |
Cash Flow | ||||||
| Free Cash Flow | 84.34M | 64.50M | -74.35M | 23.37M | -8.60M | -16.97M |
| Operating Cash Flow | 90.63M | 70.34M | -64.22M | 28.87M | -1.95M | -10.65M |
| Investing Cash Flow | -14.91M | -12.72M | -29.88M | -38.45M | -8.59M | -6.04M |
| Financing Cash Flow | -31.79M | -24.15M | 1.12M | -6.18M | 155.21M | -812.09K |
DocGo Technical Analysis
Negative
1.52
Price Trends
1.70
Negative
2.55
Negative
3.25
Negative
Market Momentum
-0.02
Negative
44.14
Neutral
31.27
Neutral
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 1.52 is below the 20-day moving average (MA) of 1.56, below the 50-day MA of 1.70, and below the 200-day MA of 3.25, indicating a bearish trend. The MACD of -0.02 indicates Negative momentum. The RSI at 44.14 is Neutral, neither overbought nor oversold. The STOCH value of 31.27 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DCGO.
DocGo Risk Analysis
DocGo disclosed 70 risk factors in its most recent earnings report. DocGo reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
DocGo Peers Comparison
Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $463.46M | 166.47 | 2.52% | ― | 25.02% | ― | |
58 Neutral | $465.54M | 10.98 | 9.93% | ― | 6.97% | ― | |
52 Neutral | $150.64M | 12.68 | -0.21% | ― | -26.00% | -103.18% | |
52 Neutral | $533.30M | ― | -12.03% | ― | 12.19% | -1.59% | |
51 Neutral | $7.55B | 0.39 | -61.90% | 2.32% | 17.14% | 1.55% | |
51 Neutral | $488.27M | ― | 39.18% | ― | 1.05% | -288.07% | |
43 Neutral | $45.57M | ― | -131.17% | ― | 9.79% | -47.01% |
* Healthcare Sector Average
Performance Comparison
DCGO
DocGo
1.52
-1.42
-48.30%
CYH
Community Health
3.48
0.11
3.26%
TALK
Talkspace
2.70
0.55
25.58%
INNV
InnovAge Holding
3.95
-1.11
-21.94%
PIII
P3 Health Partners
6.34
-18.50
-74.48%
AUNA
Auna S.A. Class A
6.29
-1.71
-21.38%
DocGo Corporate Events
Executive/Board ChangesShareholder Meetings
DocGo Holds Annual Stockholders Meeting on June 17
Neutral
Jun 18, 2025
On June 17, 2025, DocGo Inc. held its Annual Meeting of Stockholders, where several key decisions were made. The election of three Class I directors was confirmed, and the compensation of named executive officers was approved on a non-binding basis. However, amendments to the company’s charter regarding corporate opportunities and officer exculpation were not approved. Additionally, the appointment of Urish Popeck & Co., LLC as the independent registered public accounting firm for 2025 was ratified.
The most recent analyst rating on (DCGO) stock is a Hold with a $2.85 price target. To see the full list of analyst forecasts on DocGo stock, see the DCGO Stock Forecast page.
Stock Buyback
DocGo Extends Share Repurchase Program to December
Positive
Jun 12, 2025
On June 12, 2025, DocGo Inc. announced an extension of its share repurchase program’s expiration date from June 30, 2025, to December 31, 2025, allowing the company to continue purchasing up to $26 million in common stock. This extension provides the company with flexibility to repurchase shares based on market conditions and other factors, potentially impacting its stock value and benefiting shareholders.
The most recent analyst rating on (DCGO) stock is a Hold with a $2.85 price target. To see the full list of analyst forecasts on DocGo stock, see the DCGO Stock Forecast page.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.