DocGo (DCGO)
Market Price (9/25/2026): $0.3404 | Market Cap: $33.6 MilSector: Health Care | Industry: Health Care Facilities
DocGo (DCGO)
Market Price (9/25/2026): $0.3404Market Cap: $33.6 MilSector: Health CareIndustry: Health Care Facilities
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -45% Megatrend and thematic driversMegatrends include Digital Health & Telemedicine. Themes include Telehealth Platforms, and Remote Patient Monitoring. | Weak multi-year price returns2Y Excs Rtn is -125%, 3Y Excs Rtn is -167% | Penny stockMkt Price is 0.3 Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -94 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -32% Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -32%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -3.1%, Rev Chg QQuarterly Revenue Change % is -8.7% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -7.7%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -9.7% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -577% Key risksDCGO key risks include [1] a securities class action lawsuit and severe mismanagement of a major no-bid contract, Show more. |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -45% |
| Megatrend and thematic driversMegatrends include Digital Health & Telemedicine. Themes include Telehealth Platforms, and Remote Patient Monitoring. |
| Weak multi-year price returns2Y Excs Rtn is -125%, 3Y Excs Rtn is -167% |
| Penny stockMkt Price is 0.3 |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -94 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -32% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -32%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -3.1%, Rev Chg QQuarterly Revenue Change % is -8.7% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -7.7%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -9.7% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -577% |
| Key risksDCGO key risks include [1] a securities class action lawsuit and severe mismanagement of a major no-bid contract, Show more. |
Qualitative Assessment
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DocGo (DCGO) stock has lost about 50% since 5/31/2026 because of the following key factors:
1. Poor Fiscal Q2 2026 Financial Results and Negative Full-Year Guidance Revision. DocGo's stock experienced a significant decline following its announcement of fiscal Q2 2026 results (ended June 30, 2026) on August 17, 2026. The company reported an earnings per share (EPS) loss of -$0.16, missing the consensus estimate of -$0.10 by $0.06. Quarterly revenue also fell short at $73.4 million, compared to the consensus estimate of $75.35 million. The net loss for the quarter widened to ($18.0) million from ($13.3) million in fiscal Q2 2025. Furthermore, DocGo significantly revised its full-year 2026 adjusted EBITDA guidance to a loss of ($17-$22) million, a considerable widening from its prior guidance of a ($5-$10) million loss. This negative revision was attributed to a larger-than-expected first-half loss, slower realization of cost reductions, and a gross-margin trajectory below original assumptions. Following this announcement, DocGo's shares declined by 33.1% the next day.
2. Wind-Down of Migrant-Related Programs. A core reason for the year-over-year decline in DocGo's revenue stems from the wind-down of its migrant-related programs. In fiscal Q2 2026, these programs generated zero revenue, a substantial drop from $18.8 million in revenue during fiscal Q2 2025. This complete cessation of migrant-related revenue was cited as the sole cause for the overall decline in total revenue and Mobile Health Services revenue during the quarter. While DocGo reported a 19% year-over-year increase in revenue when excluding these programs, the immediate impact of losing this significant revenue stream negatively affected investor sentiment.
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DocGo (DCGO) stock has lost about 50% since 5/31/2026 because of the following key factors:
1. Poor Fiscal Q2 2026 Financial Results and Negative Full-Year Guidance Revision. DocGo's stock experienced a significant decline following its announcement of fiscal Q2 2026 results (ended June 30, 2026) on August 17, 2026. The company reported an earnings per share (EPS) loss of -$0.16, missing the consensus estimate of -$0.10 by $0.06. Quarterly revenue also fell short at $73.4 million, compared to the consensus estimate of $75.35 million. The net loss for the quarter widened to ($18.0) million from ($13.3) million in fiscal Q2 2025. Furthermore, DocGo significantly revised its full-year 2026 adjusted EBITDA guidance to a loss of ($17-$22) million, a considerable widening from its prior guidance of a ($5-$10) million loss. This negative revision was attributed to a larger-than-expected first-half loss, slower realization of cost reductions, and a gross-margin trajectory below original assumptions. Following this announcement, DocGo's shares declined by 33.1% the next day.
2. Wind-Down of Migrant-Related Programs. A core reason for the year-over-year decline in DocGo's revenue stems from the wind-down of its migrant-related programs. In fiscal Q2 2026, these programs generated zero revenue, a substantial drop from $18.8 million in revenue during fiscal Q2 2025. This complete cessation of migrant-related revenue was cited as the sole cause for the overall decline in total revenue and Mobile Health Services revenue during the quarter. While DocGo reported a 19% year-over-year increase in revenue when excluding these programs, the immediate impact of losing this significant revenue stream negatively affected investor sentiment.
3. Liquidity Concerns and Covenant Non-Compliance. DocGo faced notable liquidity concerns and issues with credit agreement compliance, initially disclosed around its fiscal Q1 2026 earnings period (ended March 31, 2026). As of December 31, 2025, the company was not in compliance with a minimum liquidity covenant under its Credit Agreement and was actively negotiating with its lender. This situation raised substantial doubt about its ability to continue as a going concern without planned mitigation actions. The company's operating cash flow also turned negative in fiscal Q1 2026, with an outflow of $4.7 million. By June 30, 2026, available cash had further decreased to $25.2 million, down from $35.7 million at the end of fiscal Q1 2026. These financial health indicators contributed to investor apprehension during the specified period.
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Stock Movement Drivers
Fundamental Drivers
The -48.3% change in DCGO stock from 5/31/2026 to 9/24/2026 was primarily driven by a -47.1% change in the company's P/S Multiple.| (LTM values as of) | 5312026 | 9242026 | Change |
|---|---|---|---|
| Stock Price ($) | 0.66 | 0.34 | -48.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 302 | 295 | -2.3% |
| P/S Multiple | 0.2 | 0.1 | -47.1% |
| Shares Outstanding (Mil) | 99 | 99 | -0.1% |
| Cumulative Contribution | -48.3% |
Market Drivers
5/31/2026 to 9/24/2026| Return | Correlation | |
|---|---|---|
| DCGO | -48.3% | |
| Market (SPY) | 1.7% | 14.6% |
| Sector (XLV) | 14.1% | -15.6% |
Fundamental Drivers
The -52.6% change in DCGO stock from 2/28/2026 to 9/24/2026 was primarily driven by a -40.3% change in the company's P/S Multiple.| (LTM values as of) | 2282026 | 9242026 | Change |
|---|---|---|---|
| Stock Price ($) | 0.72 | 0.34 | -52.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 368 | 295 | -19.9% |
| P/S Multiple | 0.2 | 0.1 | -40.3% |
| Shares Outstanding (Mil) | 98 | 99 | -1.0% |
| Cumulative Contribution | -52.6% |
Market Drivers
2/28/2026 to 9/24/2026| Return | Correlation | |
|---|---|---|
| DCGO | -52.6% | |
| Market (SPY) | 12.4% | 16.5% |
| Sector (XLV) | 6.9% | -3.3% |
Fundamental Drivers
The -78.2% change in DCGO stock from 8/31/2025 to 9/24/2026 was primarily driven by a -67.8% change in the company's P/S Multiple.| (LTM values as of) | 8312025 | 9242026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.56 | 0.34 | -78.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 436 | 295 | -32.4% |
| P/S Multiple | 0.4 | 0.1 | -67.8% |
| Shares Outstanding (Mil) | 99 | 99 | 0.1% |
| Cumulative Contribution | -78.2% |
Market Drivers
8/31/2025 to 9/24/2026| Return | Correlation | |
|---|---|---|
| DCGO | -78.2% | |
| Market (SPY) | 20.3% | 22.4% |
| Sector (XLV) | 25.8% | 4.7% |
Fundamental Drivers
The -96.2% change in DCGO stock from 8/31/2023 to 9/24/2026 was primarily driven by a -94.4% change in the company's P/S Multiple.| (LTM values as of) | 8312023 | 9242026 | Change |
|---|---|---|---|
| Stock Price ($) | 8.95 | 0.34 | -96.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 452 | 295 | -34.7% |
| P/S Multiple | 2.1 | 0.1 | -94.4% |
| Shares Outstanding (Mil) | 104 | 99 | 4.8% |
| Cumulative Contribution | -96.2% |
Market Drivers
8/31/2023 to 9/24/2026| Return | Correlation | |
|---|---|---|
| DCGO | -96.2% | |
| Market (SPY) | 76.8% | 24.9% |
| Sector (XLV) | 34.1% | 14.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| DCGO Return | -7% | -24% | -21% | -24% | -79% | -59% | -96% |
| Peers Return | 25% | -16% | 7% | -4% | -2% | 37% | 42% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 105% |
Monthly Win Rates [3] | |||||||
| DCGO Win Rate | 50% | 42% | 42% | 50% | 25% | 22% | |
| Peers Win Rate | 56% | 46% | 54% | 46% | 48% | 58% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 56% | |
Max Drawdowns [4] | |||||||
| DCGO Max Drawdown | - | -45% | -54% | -49% | -84% | -62% | |
| Peers Max Drawdown | -36% | -44% | -29% | -39% | -33% | -28% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: PNTG, OPCH, CHE, AMN.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/24/2026 (YTD)
How Low Can It Go
| Event | DCGO | S&P 500 |
|---|---|---|
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -16.1% | -6.7% |
| % Gain to Breakeven | 19.2% | 7.1% |
| Time to Breakeven | 35 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -45.1% | -24.5% |
| % Gain to Breakeven | 82.2% | 32.4% |
| Time to Breakeven | 92 days | 427 days |
In The Past
DocGo's stock fell 0.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 0.0% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
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| Event | DCGO | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -45.1% | -24.5% |
| % Gain to Breakeven | 82.2% | 32.4% |
| Time to Breakeven | 92 days | 427 days |
In The Past
DocGo's stock fell 0.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 0.0% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About DocGo (DCGO)
DocGo (DCGO) is a healthcare services company that provides mobile health and medical transportation solutions across the United States and the United Kingdom. The company focuses on delivering healthcare directly to individuals' locations or facilitating their safe and efficient transport to medical facilities.
A core component of DocGo's offerings is its medical transportation services. This includes emergency response services, deploying ambulances for critical situations. The company also provides a range of non-emergency transport options, such as scheduled ambulance services for patient transfers between facilities and wheelchair transportation for individuals requiring specialized assistance for appointments.
Beyond transportation, DocGo delivers mobile health services through its proprietary platform, enabling medical care to be performed conveniently at patients' homes or offices. This segment encompasses services like COVID-19 testing and comprehensive on-site healthcare support for events such as sporting events and concerts. DocGo primarily serves various healthcare providers, event organizers, and individuals seeking accessible and flexible medical care.
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Here are 1-2 brief analogies for DocGo:
Uber for medical house calls
Uber for medical transportation
AI Analysis | Feedback
- Emergency Response Services: Provision of immediate medical assistance and transport in urgent situations.
- Non-Emergency Transportation Services: Includes pre-scheduled ambulance and wheelchair transportation for patients requiring medical transit.
- Mobile Health Services: Healthcare services delivered directly to patients' homes or offices via their platform.
- COVID-19 Testing: On-site and mobile testing services for the COVID-19 virus.
- Event Healthcare Services: Provision of on-site medical support and staff for various public and private events, such as sporting events and concerts.
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DocGo (DCGO) primarily sells its mobile health and medical transportation services to other companies and organizations, rather than directly to individuals.
Based on the company's public filings (e.g., 2023 Form 10-K), no single customer accounted for more than 10% of its total revenue during the most recent fiscal years. Therefore, specific names of major customer companies are not individually disclosed by DocGo in its public statements.
However, DocGo identifies its major customer categories as:
- Health plans
- Hospitals and health systems
- Municipalities
- Employers
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Lee Bienstock, Chief Executive Officer
Lee Bienstock is CEO of DocGo, a position he assumed in September 2023. He joined DocGo in 2022, initially serving as President and Chief Operating Officer, where he was responsible for strategic expansion and growth across the company's sales, operations, product, and technology initiatives. Prior to DocGo, Mr. Bienstock spent ten years at Google, with his most recent role as Global Head of Enterprise Partnerships for Devices and Services. His tenure at Google also included roles across Google Search, YouTube, and Fiber. He holds an MBA from the Wharton School at the University of Pennsylvania and a BS from Cornell University.
Norman Rosenberg, Treasurer and Chief Financial Officer
Norman Rosenberg serves as DocGo's Treasurer and Chief Financial Officer. He became CFO of DocGo Inc. in January 2023, having initially joined Ambulnz Holdings, LLC (DocGo's predecessor) as CFO in January 2020. Before Ambulnz, Mr. Rosenberg worked for five years at AmTrust Financial, Inc., where his roles included president of their direct-to-consumer division and CFO of fee companies. In his capacity as CFO at AmTrust Financial, he oversaw the divestitures of several non-core units, generating over $1 billion in proceeds. Mr. Rosenberg has also held CFO positions at companies such as KDDI Global, Marsh, Inc., and IDT Telecom. He is a Chartered Financial Analyst (CFA) and holds an MS from Johns Hopkins University.
Ely D. Tendler, General Counsel and Secretary of Board of Directors
Ely D. Tendler has served as DocGo's General Counsel and a member of its board of directors since 2015. He is the Principal of Ely D. Tendler Strategic and Legal Services, bringing over 25 years of experience as an attorney with expertise in transactional, operational, and managerial matters.
Dr. James Powell, CEO, Clinical Practice Group
Dr. James Powell is the CEO of DocGo's Clinical Practice Group, leading innovative healthcare initiatives. A board-certified Internist, he has dedicated two decades to working as a physician executive for non-profit organizations focused on underserved populations. Prior to joining DocGo, Dr. Powell served as CEO of Long Island Select Healthcare (LISH), a federally qualified health center, and was Treasurer of LISH's Accountable Care Organization (ACO). He was also a former CEO and CMO of a Federally Qualified Health Center.
Stephen Sugrue, Chief Compliance Officer
Stephen Sugrue holds the position of Chief Compliance Officer for DocGo, overseeing the company's Compliance and Ethics functions. Before his time at DocGo, he spent 15 years as Compliance Officer and Compliance Counsel for major health systems. Mr. Sugrue also possesses a clinical background, having worked as an EMT, Paramedic, Director of Operations for an ambulance company, and a critical care Registered Nurse.
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DocGo (NASDAQ: DCGO) faces several significant risks to its business operations and financial stability:
- Regulatory and Legal Scrutiny: DocGo operates in a heavily regulated healthcare industry and has been subject to intense regulatory and legal scrutiny. This includes investigations by the New York Attorney General, concerns from the New York City Comptroller, and class-action lawsuits regarding its migrant services contract. Allegations include issues with security guard licensing, potential violations of state and federal laws, fraudulent billing practices (including alleged Medi-Cal and Medicare fraud), forging of documents, and misrepresentations by a former CEO. These ongoing legal and regulatory challenges pose risks of significant fines, legal costs, reputational damage, and the potential to be barred from government contract work, which could severely impact its business.
- Reliance on Government Contracts and Customer Concentration: A substantial portion of DocGo's revenue has historically come from large government contracts, such as the New York migrant contract. The winding down or loss of such significant contracts has led to a drastic revenue decline and exposed the company to considerable customer concentration risk. This reliance on a limited number of large contracts makes DocGo vulnerable to sudden revenue fluctuations if these contracts are not renewed or are terminated, impacting its financial performance and growth prospects.
- Intense Competition and Market Relevance: DocGo faces a high level of competition in both the medical transportation and mobile health sectors. Competitors may introduce superior services, more efficient operating models, or offer more competitive pricing. Furthermore, the evolving healthcare landscape, with shifts towards telehealth, automation, and industry consolidation, poses a long-term threat to DocGo's largely human-staffed model, potentially eroding its market relevance and future growth opportunities.
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Clear Emerging Threats for DocGo (DCGO):
- Expansion of Tech-Enabled Ride-Sharing Platforms into Non-Emergency Medical Transportation: Companies like Uber Health and Lyft Healthcare are increasingly partnering with healthcare providers and payers to offer non-emergency medical transport. These platforms leverage existing technology infrastructure, extensive driver networks, and user-friendly interfaces to provide convenient and often more cost-effective alternatives for ambulatory and wheelchair transport, directly competing with a significant segment of DocGo's non-emergency transportation services. This mirrors the disruptive impact of Uber on traditional taxi services.
- Vertical Integration by Large Healthcare Systems and Insurers: Major integrated healthcare systems and health insurance companies are increasingly developing their own in-house mobile health programs and transport services. As these powerful entities seek to control more aspects of patient care, improve efficiency, and reduce costs, they may choose to insource services currently provided by third-party vendors like DocGo, thereby reducing demand for external mobile health and transportation providers.
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DocGo (DCGO) operates in several addressable markets within the healthcare sector, primarily in the United States. Based on current projections, the key market sizes for its main products and services are as follows:
- Non-Emergency Medical Transportation (NEMT): The U.S. non-emergency medical transportation market was estimated at approximately US$ 6.58 billion in 2023 and is projected to grow to approximately US$ 13.43 billion by 2031.
- Emergency Medical Services (EMS): The U.S. Emergency Medical Services market size was estimated at USD 9.81 billion in 2025 and is expected to reach USD 17.42 billion by 2033.
- Home Healthcare Services: The U.S. home healthcare services market size was valued at approximately USD 100.95 billion in 2024 and is projected to grow to about USD 176.30 billion by 2032.
- Mobile Health (mHealth) Applications: The U.S. mHealth apps market size was approximately USD 12.55 billion in 2024 and is expected to exceed USD 53.02 billion by 2034.
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DocGo (NASDAQ: DCGO) is anticipated to drive future revenue growth over the next two to three years through several key initiatives:
- Expansion of Core Medical Transportation Services: DocGo expects continued growth in its Medical Transportation segment, driven by new contracts with major health systems and expansion into new and existing U.S. markets such as Texas and Tennessee. This segment is projected to exceed $200 million in revenue in 2025, supported by record volumes and long-term contracts. The company projects nearly 700,000 total transports by 2026.
- Growth in Payer and Provider Mobile Health Services: The company is strategically shifting its focus to higher-margin, recurring payer and provider partnerships within its Mobile Health segment, excluding migrant-related programs. This involves scaling care gap closure programs, primary care services, remote patient monitoring, and mobile phlebotomy. The Payer and Provider vertical is expected to grow from approximately $50 million in 2025 to $85 million in 2026. Non-migrant mobile health revenues increased by over 20% year-over-year in the third quarter of 2025. DocGo also anticipates expanding its services to more than a dozen new states by the end of 2026.
- Integration and Expansion of Virtual Care through SteadyMD: The acquisition of SteadyMD significantly enhances DocGo's virtual care capabilities, providing a 50-state virtual care network and over 500 advanced practice providers. SteadyMD is projected to generate approximately $25 million in revenue in 2025 and is expected to service over 3 million patients. This integration is aimed at scaling more efficiently and expanding telehealth offerings, including meeting the rising demand for clinician-led telehealth services and GLP-1 weight loss care.
- Strategic Pivot to a Technology-Driven, Value-Based Care Model: DocGo is undergoing a strategic transition away from non-recurring and volatile government contracts (such as migrant-related programs) towards a sustainable, technology-driven healthcare model. This pivot emphasizes embedding mobile capabilities into value-based care, where payment is tied to patient outcomes rather than just services. This shift, although impacting short-term revenue due to the wind-down of migrant programs, is expected to drive long-term growth by focusing on higher-margin, recurring revenue streams and leveraging technology and logistics for increased efficiency and market entry.
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Capital Allocation Decisions for DocGo (DCGO) Over the Last 3-5 Years
Share Repurchases
- DocGo announced a share repurchase program of up to $40 million in May 2022, which expired on November 24, 2023.
- A new share repurchase program was approved on January 31, 2024, authorizing the purchase of up to $36 million of common stock, with 1.25 million shares repurchased at an average of $3.88 per share as of March 12, 2024.
- In December 2025, the company extended its share repurchase program until June 30, 2026, allowing for the buyback of up to $26 million in common stock.
Outbound Investments
- In October 2025, DocGo acquired SteadyMD, a virtual care platform, in a transaction financed by existing cash reserves and valued at up to $25 million in cash and potential performance-based earn-outs.
- DocGo acquired Professional Technicians, Inc. (PTI Health), a mobile lab collection and phlebotomy services company, for $5.5 million on February 10, 2025, consisting of $4 million in cash and $1.5 million in deferred payments.
Capital Expenditures
- DocGo's capital expenditures are primarily focused on maintaining, growing, and upgrading its vehicle fleet and medical equipment.
- Net capital expenditures were -$3.83 million in 2024, -$7.58 million in 2023, and -$3.20 million in 2022.
- Over the two years leading up to October 2024, DocGo invested millions in new ambulances and advanced EMS equipment in Delaware.
Peer Outperformance in Health Care Facilities
null| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Health Care Distributors | 6 | 8.0% | 42.8% | 88.3% | CAH 385% · MCK 339% · COR 167% |
| Health Care Services | 20 | 18.6% | 31.5% | 3.3% | HIMS 261% · RDNT 144% · DGX 70% |
| Managed Health Care | 8 | 32.3% | -10.0% | 0.5% | OSCR 70% · HQY 34% · ELV 12% |
| Health Care Facilities ← | 24 | 1.9% | 6.9% | -4.8% | NHC 266% · THC 250% · ENSG 132% |
| Health Care Equipment | 50 | -3.5% | -2.2% | -19.2% | POCI 11838% · UFPT 380% · GKOS 206% |
| Health Care Supplies | 12 | 24.2% | -7.1% | -38.0% | LNTH 270% · HAE 53% · MMSI 21% |
| Pharmaceuticals | 63 | -8.1% | 6.9% | -41.8% | LQDA 2372% · INDV 1100% · ETON 1087% |
| Life Sciences Tools & Services | 113 | -0.4% | -10.9% | -67.1% | SNWV 1880% · NTRA 246% · MEDP 213% |
| Health Care Technology | 21 | -29.4% | -52.6% | -78.6% | SPOK 70% · HSTM 1% · VEEV -8% |
| Biotechnology | 378 | -8.8% | -22.0% | -79.4% | CELZ 1286% · DNTH 1114% · ELVN 975% |
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| DocGo Earnings Notes | 12/16/2025 | |
| Can DocGo Stock Recover If Markets Fall? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 34.56 |
| Mkt Cap | 1.4 |
| Rev LTM | 2,595 |
| Op Inc LTM | 161 |
| FCF LTM | 304 |
| FCF 3Y Avg | 247 |
| CFO LTM | 347 |
| CFO 3Y Avg | 288 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 5.9% |
| Rev Chg 3Y Avg | 5.9% |
| Rev Chg Q | 2.3% |
| QoQ Delta Rev Chg LTM | 0.5% |
| Op Inc Chg LTM | -0.1% |
| Op Inc Chg 3Y Avg | 15.2% |
| Op Mgn LTM | 5.7% |
| Op Mgn 3Y Avg | 5.4% |
| QoQ Delta Op Mgn LTM | 0.2% |
| CFO/Rev LTM | 6.1% |
| CFO/Rev 3Y Avg | 5.5% |
| FCF/Rev LTM | 5.3% |
| FCF/Rev 3Y Avg | 4.7% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Transportation Services | 201 | 193 | 181 | 115 | 84 |
| Mobile Health Services | 121 | 423 | 443 | 326 | 234 |
| Corporate | 0 | 0 | 0 | 0 | 0 |
| Total | 322 | 617 | 624 | 441 | 319 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Transportation Services | -42 | -2 | 4 | -15 | -21 |
| Mobile Health Services | -54 | 94 | 80 | 93 | 60 |
| Corporate | -81 | -63 | -69 | -56 | -23 |
| Total | -178 | 29 | 15 | 22 | 15 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Transportation Services | 96 | 134 | 132 | 119 | 59 |
| Mobile Health Services | 68 | 209 | 281 | 117 | 62 |
| Corporate | 54 | 113 | 78 | 158 | 189 |
| Total | 217 | 456 | 490 | 393 | 310 |
Price Behavior
| Market Price | $0.34 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 11/08/2021 | |
| Distance from 52W High | -77.2% | |
| 50 Days | 200 Days | |
| DMA Price | $0.51 | $0.66 |
| DMA Trend | down | down |
| Distance from DMA | -32.8% | -48.6% |
| 3M | 1YR | |
| Volatility | 104.1% | 87.3% |
| Downside Capture | 346.97 | 289.07 |
| Upside Capture | 124.20 | 68.61 |
| Correlation (SPY) | 12.1% | 22.4% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 4.02 | 1.75 | 1.32 | 1.26 | 1.61 | 1.32 |
| Up Beta | -1.07 | 0.85 | 1.94 | 0.61 | 1.43 | 1.11 |
| Down Beta | 8.53 | -2.01 | 0.55 | 1.08 | 1.40 | 0.91 |
| Up Capture | 168% | 163% | 19% | 67% | 59% | 62% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 11 | 25 | 34 | 65 | 108 | 327 |
| Down Capture | 1293% | 452% | 249% | 203% | 176% | 112% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 10 | 17 | 29 | 60 | 137 | 391 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DCGO | |
|---|---|---|---|---|
| DCGO | -77.2% | 87.1% | -1.29 | - |
| Sector ETF (XLV) | 25.8% | 16.2% | 1.23 | 3.8% |
| Equity (SPY) | 16.7% | 13.0% | 0.92 | 22.7% |
| Gold (GLD) | 13.1% | 29.3% | 0.42 | -0.1% |
| Commodities (DBC) | 45.1% | 20.7% | 1.71 | -1.8% |
| Real Estate (VNQ) | 3.7% | 13.7% | 0.01 | 16.3% |
| Bitcoin (BTCUSD) | -24.8% | 44.8% | -0.51 | 16.9% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DCGO | |
|---|---|---|---|---|
| DCGO | -48.9% | 73.4% | -0.61 | - |
| Sector ETF (XLV) | 6.8% | 15.2% | 0.26 | 17.6% |
| Equity (SPY) | 12.9% | 17.2% | 0.57 | 29.3% |
| Gold (GLD) | 19.0% | 18.8% | 0.82 | 2.1% |
| Commodities (DBC) | 10.6% | 19.6% | 0.42 | 1.7% |
| Real Estate (VNQ) | 0.7% | 18.9% | -0.07 | 20.5% |
| Bitcoin (BTCUSD) | 12.0% | 52.6% | 0.41 | 18.3% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DCGO | |
|---|---|---|---|---|
| DCGO | -28.5% | 73.4% | -0.61 | - |
| Sector ETF (XLV) | 10.9% | 16.7% | 0.53 | 17.6% |
| Equity (SPY) | 15.5% | 17.9% | 0.73 | 29.3% |
| Gold (GLD) | 12.0% | 16.4% | 0.60 | 2.1% |
| Commodities (DBC) | 8.5% | 18.1% | 0.39 | 1.7% |
| Real Estate (VNQ) | 4.8% | 20.7% | 0.19 | 20.5% |
| Bitcoin (BTCUSD) | 63.7% | 66.2% | 1.03 | 18.3% |
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Returns Analyses
Earnings Returns History
Updated 7/31/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/11/2026 | 0.5% | -6.6% | -6.1% |
| 3/16/2026 | 20.1% | 4.0% | -18.1% |
| 11/10/2025 | -0.9% | -13.3% | -15.3% |
| 8/7/2025 | 12.9% | 17.3% | 12.9% |
| 5/8/2025 | -39.9% | -39.9% | -31.3% |
| 2/27/2025 | -21.2% | -25.3% | -32.7% |
| 11/7/2024 | 10.8% | 15.8% | 14.1% |
| 8/7/2024 | 21.4% | 8.7% | 21.4% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 11 | 9 |
| # Negative | 7 | 8 | 10 |
| Median Positive | 11.3% | 11.4% | 12.9% |
| Median Negative | -12.1% | -6.8% | -15.8% |
| Max Positive | 21.4% | 46.1% | 38.1% |
| Max Negative | -39.9% | -39.9% | -32.7% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/11/2026 | 0.5% | -6.6% | -6.1% |
| 3/16/2026 | 20.1% | 4.0% | -18.1% |
| 11/10/2025 | -0.9% | -13.3% | -15.3% |
| 8/7/2025 | 12.9% | 17.3% | 12.9% |
| 5/8/2025 | -39.9% | -39.9% | -31.3% |
| 2/27/2025 | -21.2% | -25.3% | -32.7% |
| 11/7/2024 | 10.8% | 15.8% | 14.1% |
| 8/7/2024 | 21.4% | 8.7% | 21.4% |
| 5/8/2024 | -12.1% | -4.0% | -11.1% |
| 2/28/2024 | 3.3% | 0.3% | 2.5% |
| 1/10/2024 | 14.7% | 11.4% | 18.1% |
| 11/6/2023 | 5.3% | -2.6% | -5.5% |
| 8/7/2023 | 11.9% | 12.4% | -17.1% |
| 5/8/2023 | 5.0% | 4.0% | 11.0% |
| 3/13/2023 | -3.2% | -6.7% | -6.3% |
| 11/7/2022 | -3.6% | 5.4% | -16.2% |
| 8/8/2022 | 3.5% | 16.4% | 10.8% |
| 5/10/2022 | -17.6% | -6.9% | 9.4% |
| 3/14/2022 | 21.1% | 46.1% | 38.1% |
| SUMMARY STATS | |||
| # Positive | 12 | 11 | 9 |
| # Negative | 7 | 8 | 10 |
| Median Positive | 11.3% | 11.4% | 12.9% |
| Median Negative | -12.1% | -6.8% | -15.8% |
| Max Positive | 21.4% | 46.1% | 38.1% |
| Max Negative | -39.9% | -39.9% | -32.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/17/2026 | 10-Q |
| 03/31/2026 | 05/11/2026 | 10-Q |
| 12/31/2025 | 03/16/2026 | 10-K |
| 09/30/2025 | 11/10/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 02/28/2024 | 10-K |
| 09/30/2023 | 11/06/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 03/14/2023 | 10-K |
| 09/30/2022 | 11/08/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/17/2026 | 10-Q |
| 03/31/2026 | 05/11/2026 | 10-Q |
| 12/31/2025 | 03/16/2026 | 10-K |
| 09/30/2025 | 11/10/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 02/28/2024 | 10-K |
| 09/30/2023 | 11/06/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 03/14/2023 | 10-K |
| 09/30/2022 | 11/08/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| 03/31/2022 | 05/10/2022 | 10-Q |
| 12/31/2021 | 03/15/2022 | 10-K |
| 09/30/2021 | 11/24/2021 | S-1 |
Recent Forward Guidance
Updated 7/27/2026Latest: Q1 2026 Earnings Reported 5/11/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | Reported | 300.00 Mil | 307.50 Mil | 315.00 Mil | 2.5% | Raised | Guidance: 300.00 Mil for 2026 | |
| 2026 SteadyMD Revenue Growth | Reported | 50.0% | ||||||
| 2026 Adjusted EBITDA | Reported | -10.00 Mil | -7.50 Mil | -5.00 Mil | 0 | Affirmed | Guidance: -7.50 Mil for 2026 | |
Prior: Q4 2025 Earnings Reported 3/16/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | Reported | 290.00 Mil | 300.00 Mil | 310.00 Mil | 3.4% | Raised | Guidance: 290.00 Mil for 2026 | |
| 2026 Adjusted EBITDA | Reported | -10.00 Mil | -7.50 Mil | -5.00 Mil | -62.5% | Raised | Guidance: -20.00 Mil for 2026 | |
Q3 2025 Earnings Reported 11/10/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Revenue | Reported | 315.00 Mil | 317.50 Mil | 320.00 Mil | 0.8% | Raised | Guidance: 315.00 Mil for 2025 | |
| 2025 Adjusted EBITDA | Reported | -28.00 Mil | -26.50 Mil | -25.00 Mil | Lowered | Guidance: -25.00 Mil for 2025 | ||
| 2026 Revenue | Reported | 280.00 Mil | 290.00 Mil | 300.00 Mil | ||||
| 2026 Revenue Growth | Reported | 12.0% | 16.0% | 20.0% | ||||
| 2026 Adjusted EBITDA | Reported | -25.00 Mil | -20.00 Mil | -15.00 Mil | ||||
Insider Activity
Updated 5/14/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Tendler, Ely D | General Counsel and Secretary | Direct | Sell | 12162025 | 0.91 | 16,850 | 15,334 | 235,503 | Form |
| 2 | Burdiek, Michael J | Direct | Buy | 5232025 | 1.33 | 10,000 | 13,300 | 853,275 | Form | |
| 3 | Burdiek, Michael J | Direct | Buy | 5152025 | 1.43 | 15,000 | 21,450 | 903,131 | Form | |
| 4 | Klasko, Stephen K MD | Direct | Buy | 5142025 | 1.49 | 15,000 | 22,350 | 22,350 | Form | |
| 5 | Sugrue, Stephen | Chief Compliance Officer | Direct | Buy | 5142025 | 1.44 | 10,000 | 14,400 | 514,552 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Tendler, Ely D | General Counsel and Secretary | Direct | Sell | 12162025 | 0.91 | 16,850 | 15,334 | 235,503 | Form |
| 2 | Burdiek, Michael J | Direct | Buy | 5232025 | 1.33 | 10,000 | 13,300 | 853,275 | Form | |
| 3 | Burdiek, Michael J | Direct | Buy | 5152025 | 1.43 | 15,000 | 21,450 | 903,131 | Form | |
| 4 | Klasko, Stephen K MD | Direct | Buy | 5142025 | 1.49 | 15,000 | 22,350 | 22,350 | Form | |
| 5 | Sugrue, Stephen | Chief Compliance Officer | Direct | Buy | 5142025 | 1.44 | 10,000 | 14,400 | 514,552 | Form |
| 6 | Rosenberg, Norman | CFO and Treasurer | Direct | Buy | 5142025 | 1.47 | 15,000 | 22,050 | 1,280,770 | Form |
| 7 | Bienstock, Lee | Chief Executive Officer | Direct | Buy | 5142025 | 1.54 | 15,000 | 23,100 | 3,035,462 | Form |
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External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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