DocGo Records $72.1M Q4 Asset Impairments, Boosts 2026 Revenue to $290–310M
DocGo took $49.5M goodwill and $22.6M intangible asset charges in Q4, sending cash down to $68.3M from $95.2M, while Q4 revenue reached $74.9M, beating guidance. Full-year 2025 revenue fell to $322.2M from $616M, but 2026 revenue forecast rose to $290-310M driven by transportation and SteadyMD growth.
1. Q4 Financial Results
DocGo recorded Q4 revenue of $74.9 million, surpassing the top end of guidance, but posted an adjusted EBITDA loss of $11.6 million and non-cash asset impairments of $49.5 million in goodwill and $22.6 million in intangible assets.
2. Balance Sheet and Cash Flow
Cash and cash equivalents fell to $68.3 million from $95.2 million at September-end, driven by delayed collections on migrant-related contracts, with the company expecting to collect these receivables in the first half of 2026, which may ease working capital pressure.
3. 2026 Outlook and Cost Savings
Management raised 2026 revenue guidance to $290–310 million, citing an 11% increase in medical transportation trips, a 113% rise in home visits and SteadyMD surpassing $8 million in revenue with margin expansion, while launching efficiency initiatives targeting $5–6 million in savings next year.