GICS Sector : Healthcare
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.
DocGo reported total revenue of $70.8 million for 2025, down from $138.7 million in 2024, with adjusted EBITDA loss of $7.1 million compared to a profit of $17.9 million in 2024. The adjusted gross margin was 33% in 2025, down from 36% in 2024. The company's EPS came in at -$0.11, missing estimates of -$0.09. Excluding revenue from migrant-related programs, revenue increased by 8% to $62.4 million in 2025 from $58 million in 2024, driven by growth in medical transportation services and non-migrant mobile health revenues.
Publication Date: Nov -20
The transportation business achieved record volumes in Q3, driven by long-term contracts, and is expected to generate over $200 million of revenue in 2026. The payer and provider vertical is expected to grow to $85 million in 2026, driven by services such as care gap closure, primary and preventative care, telehealth, and remote patient monitoring. The remote patient monitoring business is focused on cardiology and has signed 13 new contracts this year, with eight more proposals in the pipeline.
The acquisition of SteadyMD is expected to enable DocGo to achieve more efficient delivery of patient care by pairing its mobile health clinicians with SteadyMD's virtual clinician workforce. The deal is expected to bring significant value to shareholders, with the potential to drive growth and improve margins. As Norman Rosenberg noted, "We believe we got a very attractive deal for our shareholders with the way we structured this transaction and the value it brings."
With a P/S Ratio of 0.21 and EV/EBITDA of -3.56, the market appears to be pricing in significant growth potential for DocGo. However, the company's guidance for 2026 revenue of $280 million to $300 million represents a decline of 12% to 20% from 2025 levels, excluding migrant-related revenues. The expected improvement in gross margins and reduction in operating expenses should help drive EBITDA performance in 2026.
The company's adjusted gross margin is expected to improve over the next few quarters, driven by the expansion of its field labor team and the integration of SteadyMD. Operating expenses are expected to be reduced through cost-saving measures, which should help drive EBITDA performance in 2026. The EBITDA loss is expected to be skewed towards the first half of 2026, with a smaller loss in the third quarter and potentially a positive number in the fourth quarter.
DocGo Inc. (DCGO) Q3 2025 Earnings Call Transcript
Nov -11
DocGo Inc. (DCGO) Reports Q3 Loss, Beats Revenue Estimates
Nov -11
DocGo Announces Upcoming Launch of Longitudinal Care Services for Major California Health Plan
Nov -04
Halper Sadeh LLC Encourages DocGo Inc. Shareholders to Contact the Firm to Discuss Their Rights
Oct -23
DocGo Inc. (DCGO) M&A Call Transcript
Oct -21
DocGo Acquires Virtual Care Platform SteadyMD, Expands Telehealth Services Across All 50 States
Oct -20
DocGo Signs Deal to Launch Care Gap Closure Program in New Mexico With National Insurance Provider
Oct -16
DRIVEN BRANDS INVESTIGATION CONTINUED BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Continues to Investigate the Officers and Directors of Driven Brands Holdings Inc. - DRVN
Sep -18
DocGo's Mobile Health segment growth of 10.78% is driven by increasing demand for convenient, on-demand healthcare services, expansion into new markets, and strategic partnerships. Additionally, the company's focus on technology integration, such as telemedicine and AI-powered platforms, enhances patient experience and improves operational efficiency, contributing to the segment's rapid growth.
DocGo Inc.'s 8.5% growth in Transportation is driven by increasing demand for non-emergency medical transportation, expansion into new markets, and strategic partnerships with healthcare providers. Additionally, investments in technology and operational efficiency have improved customer experience, leading to higher retention rates and revenue growth.
DocGo provides ambulance services to transport patients to medical facilities, including emergency and non-emergency transportation.
DocGo offers mobile health services, including on-site medical care and telemedicine services, to provide patients with convenient and accessible healthcare.
DocGo provides medical transportation services, including wheelchair and stretcher transportation, to patients who require non-emergency medical transportation.
DocGo offers telemedicine services, allowing patients to remotely consult with healthcare professionals through video conferencing.
DocGo provides mobile diagnostics services, including on-site laboratory testing and imaging services, to patients in their homes or offices.
DocGo Inc. faces moderate threat from substitutes as patients have limited alternatives for non-emergency medical transportation services.
DocGo Inc. has a diversified customer base, which reduces the bargaining power of individual customers.
DocGo Inc. relies on a network of healthcare providers and transportation partners, which gives them moderate bargaining power.
The non-emergency medical transportation industry has low barriers to entry, making it easier for new entrants to disrupt the market.
The non-emergency medical transportation industry is highly competitive, with multiple players competing for market share.
| Value | |
|---|---|
| Debt Weight | 13.39% |
| Debt Cost | 8.75% |
| Equity Weight | 86.61% |
| Equity Cost | 8.75% |
| WACC | 8.75% |
| Leverage | 15.46% |
Value: 9.4
Growth: 3.2
Quality: 4.4
Yield: 0.0
Momentum: 10.0
Volatility: 0.7
1-Year Total Return ->
Value: 9.8
Growth: 8.3
Quality: 4.4
Yield: 0.0
Momentum: 0.0
Volatility: 2.0
1-Year Total Return ->
Value: 5.1
Growth: 3.1
Quality: 2.1
Yield: 0.0
Momentum: 9.0
Volatility: 4.3
1-Year Total Return ->
Value: 5.8
Growth: 2.7
Quality: 2.1
Yield: 0.0
Momentum: 7.5
Volatility: 5.3
1-Year Total Return ->
Value: 4.6
Growth: 4.8
Quality: 2.5
Yield: 1.0
Momentum: 8.0
Volatility: 1.3
1-Year Total Return ->
Value: 3.3
Growth: 3.3
Quality: 4.9
Yield: 0.0
Momentum: 3.5
Volatility: 4.0
1-Year Total Return ->