DocGo posted a $29.7 million net loss in Q3 2025 due to impairment charges and reduced revenue from migrant-related programs. However, excluding those effects, core revenue grew and operational metrics showed strong volume gains. Adjusted EBITDA was negative, but the company maintained strong liquidity and reaffirmed forward guidance.
Total revenue declined to $70.8 million due to the wind-down of migrant-related programs
Net loss was $29.7 million, including $16.7 million in impairment charges
Adjusted EPS excludes $0.17 per share of non-cash impairment charges
Core business volumes reached record highs across all major service lines
DocGo reaffirmed full-year 2025 guidance with expected revenue between $315M–$320M and adjusted EBITDA loss of $25M–$28M, while 2026 guidance anticipates no migrant-related revenue and aims for positive adjusted EBITDA run rate by year-end.
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