DocGo (DCGO) AI Stock Analysis

• Market Cap: $93.93M
• Dividend Yield: N/A
• Average Volume (3M): 2.53M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.05
• 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: 620,808
• 30 Day Avg. Volume: 2,529,182
• 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: 0.84
• Enterprise Value/Revenue: 0.22
• Enterprise Value/Gross Profit: 0.69
• Enterprise Value/Ebitda: -1.63
• 1Y Price Target: $3.13
• Price Target Upside: 226.04% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): -0.49
• Revenue Forecast (FY): $316.79M

• Rating: 44 Neutral
• Price Target: $1.00 ▲(4.17% Upside)

DocGo's overall stock score reflects significant financial and technical challenges. The company's negative profit margins, cash flow issues, and bearish technical indicators are major concerns. While strategic initiatives and acquisitions offer potential for future growth, current valuation metrics are unattractive, contributing to a low overall score.

Positive Factors

Strategic Acquisitions

The acquisition of SteadyMD enhances DocGo's scalability and service offerings, positioning it to expand its virtual care capabilities and market reach.

Strong Balance Sheet

A strong balance sheet with manageable leverage and cash reserves provides DocGo with the financial flexibility to invest in growth opportunities and weather economic challenges.

Expansion in Medical Transportation

Growth in medical transportation revenue indicates successful execution of long-term contracts and high utilization rates, supporting stable revenue streams.

Negative Factors

Revenue Decline

A significant year-over-year revenue decline highlights challenges in maintaining growth momentum, potentially impacting long-term financial performance.

Adjusted EBITDA Loss

Ongoing adjusted EBITDA losses reflect challenges in achieving profitability, which may hinder future investment capabilities and shareholder returns.

Decreased Gross Margins

Decreased gross margins in the Mobile Health segment suggest cost pressures and inefficiencies, which could affect long-term profitability and competitiveness.

DocGo Business Overview & Revenue Model

Company Description

DocGo, 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 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: 0.96
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: 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 0.96 is below the 20-day moving average (MA) of 1.02, below the 50-day MA of 1.16, and below the 200-day MA of 1.81, indicating a bearish trend. The MACD of -0.05 indicates Negative momentum. The RSI at 40.30 is Neutral, neither overbought nor oversold. The STOCH value of 65.80 is Neutral, 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	$518.50M	128.28	3.74%	―	18.37%	―
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
AMN	50 Neutral	$651.11M	―	-35.90%	―	-11.42%	-617.31%
BTMD	47 Neutral	$116.90M	3.22	―	―	1.34%	185.03%
DCGO	44 Neutral	$93.93M	―	-17.32%	―	-47.03%	-274.41%
AGL	41 Neutral	$257.87M	―	-73.31%	―	5.21%	5.21%
PIII	38 Underperform	$60.81M	-0.17	-257.39%	―	-2.15%	-6.72%

DocGo Corporate Events

DocGo, Inc. Earnings Call: Growth Amid Challenges

During DocGo, Inc.’s recent earnings call, the sentiment was a mix of optimism and caution. The company highlighted strong growth prospects and strategic acquisitions, particularly in the virtual care and transportation sectors. However, there were significant year-over-year revenue declines and adjusted EBITDA losses, mainly due to the sunset of migrant-related projects and investments in new business lines. Despite these challenges, DocGo’s robust balance sheet positions it well for future growth.

DocGo Reports Q3 2025 Results Amid Strategic Shifts

DocGo Inc. is a leading provider of technology-enabled mobile health and medical transportation services, revolutionizing healthcare delivery by offering services such as remote patient monitoring, ambulance services, and a virtual care network across the United States.

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.

The most recent analyst rating on (DCGO) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on DocGo stock, see the DCGO Stock Forecast page.