$DCGO

DocGo Inc.

CIK:0001822359|SEC Filings

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenues, net	$ 73,424,719	$ 80,417,622	$ 148,975,203	$ 176,450,677
Expenses:
Cost of revenues (exclusive of depreciation and amortization, which is shown separately below)	51,018,120	54,998,524	102,685,708	120,183,584
Operating expenses:
General and administrative	29,742,190	31,240,943	60,577,258	64,143,013
Depreciation and amortization	2,691,411	3,981,008	5,338,518	7,742,399
Legal and regulatory	4,025,638	4,351,974	9,059,768	8,562,797
Technology and development	3,446,289	2,957,203	7,151,338	6,596,647
Sales, advertising and marketing	423,294	368,214	795,927	699,919
Total expenses	91,346,942	97,897,866	185,608,517	207,928,359
Income (loss) from operations	(17,922,223)	(17,480,244)	(36,633,314)	(31,477,682)
Other (expense) income:
Interest expense, net	(97,583)	(443,662)	(197,315)	(869,946)
Loss on change in fair value of contingent consideration	0	0	(2,760,000)	0
Insurance proceeds	0	0	4,687,798	0
Loss on equity method investment	0	(38,817)	0	(79,515)
Loss on remeasurement of operating and finance leases	0	(6,607)	0	(47,444)
Loss on disposal of fixed assets	(39,574)	(48,354)	(102,067)	(33,215)
Other income (expense)	123,211	101,046	388,175	(211,823)
Total other (expense) income	(13,946)	(436,394)	2,016,591	(1,241,943)
Net loss before income tax (provision) benefit	(17,936,169)	(17,916,638)	(34,616,723)	(32,719,625)
(Provision for) benefit from income taxes	(56,129)	4,626,745	(75,412)	8,350,432
Net loss	(17,992,298)	(13,289,893)	(34,692,135)	(24,369,193)
Net loss attributable to noncontrolling interests	(2,172,021)	(2,134,647)	(4,108,727)	(3,808,632)
Net loss attributable to stockholders of DocGo Inc. and Subsidiaries	(15,820,277)	(11,155,246)	(30,583,408)	(20,560,561)
Other comprehensive (loss) income
Unrealized (loss) gain on investments, net of tax	(54,965)	76,733	(126,869)	76,733
Foreign currency translation adjustment	(23,730)	927,462	(91,246)	1,423,000
Total comprehensive loss	$ (15,898,972)	$ (10,151,051)	$ (30,801,523)	$ (19,060,828)
Net loss per share attributable to DocGo Inc. and Subsidiaries - Basic (in dollars per share)	$ (0.16)	$ (0.11)	$ (0.31)	$ (0.21)
Weighted-average shares outstanding - Basic (in shares)	98,802,810	98,931,293	98,774,609	100,255,877
Net loss per share attributable to DocGo Inc. and Subsidiaries - Diluted (in dollars per share)	$ (0.16)	$ (0.11)	$ (0.31)	$ (0.21)
Weighted-average shares outstanding - Diluted (in shares)	98,802,810	98,931,293	98,774,609	100,255,877

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (17,992,298)	$ (13,289,893)	$ (34,692,135)	$ (24,369,193)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation of property and equipment	1,238,431	1,211,772	2,504,944	2,432,577
Amortization of intangible assets	62,041	1,452,299	83,079	2,751,441
Amortization of finance lease right-of-use assets	1,390,939	1,316,938	2,750,495	2,558,381
Loss on disposal of fixed assets	39,574	48,354	102,067	33,215
Deferred income tax expense			12,963	(8,806,213)
Accretion of discount related to restricted investments			(164,382)	(145,403)
Loss on equity method investments			0	79,515
Bad debt expense			2,839,894	2,492,009
Stock-based compensation			5,880,310	9,656,445
Loss on remeasurement of operating and finance leases	0	6,607	0	47,444
Loss on change in fair value of contingent consideration	0	0	2,760,000	0
Changes in operating assets and liabilities:
Accounts receivable			3,837,143	86,194,306
Prepaid expenses and other current assets			141,899	(5,273,060)
Other assets			(126,984)	970,612
Accounts payable			2,817,762	(18,246,793)
Accrued liabilities			(2,522,047)	(7,451,661)
Operating lease liabilities and right-of-use assets			(124,367)	336,596
Net cash (used in) provided by operating activities			(13,899,359)	43,260,218
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment			(751,142)	(2,170,883)
Purchase of intangibles			(1,493,333)	(1,578,173)
Acquisition of a business, net of cash acquired			0	(3,646,318)
Purchase of restricted investments			(7,476,506)	(22,221,437)
Proceeds from sale and maturity of restricted investments			7,459,428	2,329,246
Proceeds from disposal of property and equipment			44,563	177,329
Net cash used in investing activities			(2,216,990)	(27,110,236)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of notes payable			(28,210)	(6,258)
Due to seller			(75,835)	(750,919)
Earnout payments on contingent liabilities			0	(265,538)
Distributions paid to noncontrolling interest			(1,024,270)	0
Payments for taxes related to shares withheld for employee taxes			(36,068)	(1,340,552)
Common stock repurchased			0	(10,828,906)
Payments on obligations under finance lease			(2,963,454)	(2,708,673)
Net cash used in financing activities			(4,127,837)	(15,900,846)
Effect of exchange rate changes on cash and cash equivalents			(69,477)	968,129
Net (decrease) increase in cash, cash equivalents, restricted cash and restricted cash equivalents			(20,313,663)	1,217,265
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period			52,484,778	107,337,307
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	32,171,115	108,554,572	32,171,115	108,554,572
Supplemental disclosure of cash and non-cash transactions:
Cash paid for interest			96,112	1,005,769
Cash paid for interest on finance lease liabilities			497,826	470,749
Cash paid for income taxes			170,191	6,094,270
Right-of-use assets obtained in exchange for lease liabilities			3,059,931	7,698,829
Supplemental non-cash investing and financing activities:
Property and equipment in accounts payable			92,331	13,125
Reconciliation of cash and restricted cash
Cash	25,233,369	104,164,128	25,233,369	104,164,128
Restricted cash	6,937,746	4,390,444	6,937,746	4,390,444
Total cash and restricted cash shown in statement of cash flows	$ 32,171,115	$ 108,554,572	$ 32,171,115	$ 108,554,572

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 25,233,369	$ 51,018,657
Accounts receivable, net of allowance for credit loss of $8,540,616 and $8,299,053 as of June 30, 2026 and December 31, 2025, respectively	86,219,100	92,893,216
Prepaid expenses	4,403,326	4,790,215
Other current assets	3,942,361	3,697,371
Total current assets	119,798,156	152,399,459
Property and equipment, net	12,711,083	14,558,427
Intangibles, net	1,410,254	0
Restricted cash and cash equivalents	6,937,746	1,466,121
Restricted investments (amortized cost of $15,952,661 and $15,737,694 as of June 30, 2026 and December 31, 2025, respectively)	15,900,466	15,845,875
Operating lease right-of-use assets	9,259,686	11,520,781
Finance lease right-of-use assets	16,756,910	17,420,424
Deferred tax assets	561,903	538,864
Other assets	3,480,045	3,353,061
Total assets	186,816,249	217,103,012
Current liabilities:
Accounts payable	14,020,960	11,110,867
Accrued liabilities	39,952,129	42,789,440
Notes payable, current	48,036	51,740
Due to seller	779,332	336,982
Contingent consideration, current	7,900,376	3,040,377
Operating lease liability, current	3,991,429	4,650,953
Finance lease liability, current	5,642,029	5,509,687
Total current liabilities	72,334,291	67,490,046
Notes payable, non-current	159,337	183,843
Contingent consideration, non-current	2,476,216	4,776,215
Operating lease liability, non-current	5,837,418	7,563,664
Finance lease liability, non-current	10,227,928	11,217,907
Total liabilities	91,035,190	91,231,675
Commitments and contingencies (Note 19)
Stockholders’ equity:
Common stock ($0.0001 par value; 500,000,000 shares authorized as of June 30, 2026 and December 31, 2025; 98,858,369 and 98,640,059 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively)	9,886	9,864
Additional paid-in-capital	331,260,586	325,416,366
Accumulated deficit	(214,385,203)	(183,801,795)
Accumulated other comprehensive income	2,169,289	2,387,404
Total stockholders’ equity attributable to DocGo Inc. and Subsidiaries	119,054,558	144,011,839
Noncontrolling interests	(23,273,499)	(18,140,502)
Total stockholders’ equity	95,781,059	125,871,337
Total liabilities and stockholders’ equity	$ 186,816,249	$ 217,103,012