DocGo 2025 Q2 Earnings Significant Earnings Decline Amid Revenue Drop

DocGo (DCGO) reported its fiscal 2025 Q2 earnings on August 8, 2025, with results missing targets. The company swung to a net loss of $0.11 per share, a 326.8% deterioration from a profit of $0.06 per share in 2024 Q2. Total revenue dropped 51.2% year-over-year to $80.42 million. The company reaffirmed its full-year revenue guidance of $300–$330 million but expects continued adjusted EBITDA losses.

Revenue
DocGo’s revenue in 2025 Q2 fell sharply to $80.42 million, a 51.2% decline from $164.95 million in the prior year. The Mobile Health Services segment generated $30.78 million, while Transportation Services contributed $49.64 million. The Corporate segment reported no revenue, leading to a total decline across all business areas.

Earnings/Net Income
The company posted a net loss of $13.29 million in 2025 Q2, a 326.8% deterioration from a $5.86 million net income in 2024 Q2. Earnings per share also turned negative at $0.11, versus $0.06 per share the previous year. This represents a complete reversal of fortune for the company’s profitability.

Price Action
DocGo’s stock price edged up 1.95% on the latest trading day and surged 18.05% during the most recent full trading week. The stock is up 0.64% month-to-date.

Post-Earnings Price Action Review
The strategy of buying DCGO when earnings beat and holding for 30 days performed poorly, returning -83.20% and underperforming the benchmark by 122.58%. The strategy experienced a maximum drawdown of 0.00% and a Sharpe ratio of -0.56, indicating a high-risk, low-reward profile.

CEO Commentary
Lee Bienstock, CEO of DocGo, highlighted the company's progress in expanding payer and provider relationships, noting the achievement of surpassing 1.2 million patients for care gap closure services and increased in-home visits compared to 2024. Bienstock emphasized new program launches with major health plans and expansion of services with existing partners, expressing confidence in long-term growth. The company plans to enter more than half a dozen new states by 2026 and expects strong medical transportation growth in New York.

Guidance
DocGo reaffirmed its full-year 2025 revenue guidance of $300–$330 million and expects adjusted EBITDA to remain in a loss range of $20–$30 million. The company anticipates record revenues and trip volumes in the medical transportation segment during the second half of 2025, driven by new contract launches.

Additional News
Over the past three weeks, several notable developments have emerged. The Trump-Putin summit, scheduled for Alaska on August 15, has drawn significant attention, highlighting potential diplomatic progress in U.S.-Russia relations. In China, Beijing's new housing policy allows eligible households to purchase unlimited properties outside the Fifth Ring, marking a major shift in real estate dynamics. Meanwhile, global focus remains on AI advancements, particularly the launch of OpenAI’s GPT-5, which has sparked intense debate in the tech industry.