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Side-by-side financial comparison of DocGo Inc. (DCGO) and FORRESTER RESEARCH, INC. (FORR). Click either name above to swap in a different company.
FORRESTER RESEARCH, INC. is the larger business by last-quarter revenue ($101.1M vs $74.9M, roughly 1.3× DocGo Inc.). FORRESTER RESEARCH, INC. runs the higher net margin — -33.5% vs -190.0%, a 156.4% gap on every dollar of revenue. On growth, FORRESTER RESEARCH, INC. posted the faster year-over-year revenue change (-6.5% vs -38.0%). FORRESTER RESEARCH, INC. produced more free cash flow last quarter ($-4.3M vs $-12.0M). Over the past eight quarters, FORRESTER RESEARCH, INC.'s revenue compounded faster (0.5% CAGR vs -37.5%).
DocGo Inc. is a U.S.-headquartered mobile healthcare and on-demand medical service provider. It offers a range of solutions including in-home urgent care, diagnostic testing, telehealth consultations, and corporate wellness programs, serving individual patients, health systems, enterprise clients, and public sector organizations across North America.
Forrester Research, Inc. is a research and advisory firm working in research, consulting and events. Forrester’s clients include large global business, technology and consumer enterprises. The firm is headquartered in Cambridge, MA.
DCGO vs FORR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $74.9M | $101.1M |
| Net Profit | $-142.3M | $-33.9M |
| Gross Margin | — | 56.7% |
| Operating Margin | -139.6% | -36.6% |
| Net Margin | -190.0% | -33.5% |
| Revenue YoY | -38.0% | -6.5% |
| Net Profit YoY | -1761.4% | -7941.4% |
| EPS (diluted) | $-1.36 | $-1.75 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $74.9M | $101.1M | ||
| Q3 25 | $70.8M | $94.3M | ||
| Q2 25 | $80.4M | $111.7M | ||
| Q1 25 | $96.0M | $89.9M | ||
| Q4 24 | $120.8M | $108.0M | ||
| Q3 24 | $138.7M | $102.5M | ||
| Q2 24 | $164.9M | $121.8M | ||
| Q1 24 | $192.1M | $100.1M |
| Q4 25 | $-142.3M | $-33.9M | ||
| Q3 25 | $-27.8M | $-2.1M | ||
| Q2 25 | $-11.2M | $3.9M | ||
| Q1 25 | $-9.4M | $-87.3M | ||
| Q4 24 | $-7.6M | $432.0K | ||
| Q3 24 | $5.5M | $-5.8M | ||
| Q2 24 | $6.5M | $6.3M | ||
| Q1 24 | $11.2M | $-6.7M |
| Q4 25 | — | 56.7% | ||
| Q3 25 | — | 60.0% | ||
| Q2 25 | — | 55.5% | ||
| Q1 25 | — | 55.9% | ||
| Q4 24 | — | 58.8% | ||
| Q3 24 | — | 60.5% | ||
| Q2 24 | — | 57.3% | ||
| Q1 24 | — | 54.9% |
| Q4 25 | -139.6% | -36.6% | ||
| Q3 25 | -59.3% | 4.7% | ||
| Q2 25 | -21.7% | 6.2% | ||
| Q1 25 | -14.6% | -97.5% | ||
| Q4 24 | -6.2% | -0.5% | ||
| Q3 24 | 7.3% | -0.7% | ||
| Q2 24 | 6.2% | 9.3% | ||
| Q1 24 | 8.3% | -9.3% |
| Q4 25 | -190.0% | -33.5% | ||
| Q3 25 | -39.2% | -2.3% | ||
| Q2 25 | -13.9% | 3.5% | ||
| Q1 25 | -9.8% | -97.1% | ||
| Q4 24 | -6.3% | 0.4% | ||
| Q3 24 | 4.0% | -5.7% | ||
| Q2 24 | 4.0% | 5.2% | ||
| Q1 24 | 5.8% | -6.7% |
| Q4 25 | $-1.36 | $-1.75 | ||
| Q3 25 | $-0.28 | $-0.11 | ||
| Q2 25 | $-0.11 | $0.20 | ||
| Q1 25 | $-0.09 | $-4.62 | ||
| Q4 24 | $-0.03 | $0.02 | ||
| Q3 24 | $0.05 | $-0.30 | ||
| Q2 24 | $0.06 | $0.33 | ||
| Q1 24 | $0.10 | $-0.35 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $51.0M | $63.3M |
| Total DebtLower is stronger | $235.6K | — |
| Stockholders' EquityBook value | $144.0M | $126.5M |
| Total Assets | $217.1M | $404.0M |
| Debt / EquityLower = less leverage | 0.00× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $51.0M | $63.3M | ||
| Q3 25 | $73.4M | $65.1M | ||
| Q2 25 | $104.2M | $67.8M | ||
| Q1 25 | $79.0M | $75.6M | ||
| Q4 24 | $89.2M | $56.1M | ||
| Q3 24 | $89.5M | $62.8M | ||
| Q2 24 | $66.1M | $58.9M | ||
| Q1 24 | $41.2M | $61.4M |
| Q4 25 | $235.6K | — | ||
| Q3 25 | $249.9K | — | ||
| Q2 25 | $12.6K | — | ||
| Q1 25 | $15.1K | — | ||
| Q4 24 | $17.7K | — | ||
| Q3 24 | $47.7K | — | ||
| Q2 24 | $52.8K | — | ||
| Q1 24 | $60.1K | — |
| Q4 25 | $144.0M | $126.5M | ||
| Q3 25 | $270.5M | $157.7M | ||
| Q2 25 | $297.3M | $159.5M | ||
| Q1 25 | $309.3M | $147.4M | ||
| Q4 24 | $320.9M | $229.5M | ||
| Q3 24 | $325.2M | $234.3M | ||
| Q2 24 | $315.2M | $237.1M | ||
| Q1 24 | $311.3M | $230.9M |
| Q4 25 | $217.1M | $404.0M | ||
| Q3 25 | $353.8M | $414.2M | ||
| Q2 25 | $408.3M | $436.0M | ||
| Q1 25 | $430.8M | $439.8M | ||
| Q4 24 | $455.6M | $503.9M | ||
| Q3 24 | $493.9M | $505.3M | ||
| Q2 24 | $488.2M | $524.2M | ||
| Q1 24 | $490.7M | $555.7M |
| Q4 25 | 0.00× | — | ||
| Q3 25 | 0.00× | — | ||
| Q2 25 | 0.00× | — | ||
| Q1 25 | 0.00× | — | ||
| Q4 24 | 0.00× | — | ||
| Q3 24 | 0.00× | — | ||
| Q2 24 | 0.00× | — | ||
| Q1 24 | 0.00× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-10.5M | $-3.2M |
| Free Cash FlowOCF − Capex | $-12.0M | $-4.3M |
| FCF MarginFCF / Revenue | -16.0% | -4.2% |
| Capex IntensityCapex / Revenue | 2.0% | 1.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $29.9M | $18.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-10.5M | $-3.2M | ||
| Q3 25 | $1.7M | $1.2M | ||
| Q2 25 | $33.6M | $-3.6M | ||
| Q1 25 | $9.7M | $26.7M | ||
| Q4 24 | $12.7M | $-1.8M | ||
| Q3 24 | $31.1M | $264.0K | ||
| Q2 24 | $36.9M | $-2.9M | ||
| Q1 24 | $-10.6M | $611.0K |
| Q4 25 | $-12.0M | $-4.3M | ||
| Q3 25 | $782.6K | $524.0K | ||
| Q2 25 | $32.9M | $-4.2M | ||
| Q1 25 | $8.2M | $26.1M | ||
| Q4 24 | $12.0M | $-2.5M | ||
| Q3 24 | $30.2M | $-223.0K | ||
| Q2 24 | $35.9M | $-3.7M | ||
| Q1 24 | $-11.6M | $-815.0K |
| Q4 25 | -16.0% | -4.2% | ||
| Q3 25 | 1.1% | 0.6% | ||
| Q2 25 | 40.9% | -3.8% | ||
| Q1 25 | 8.5% | 29.0% | ||
| Q4 24 | 9.9% | -2.3% | ||
| Q3 24 | 21.8% | -0.2% | ||
| Q2 24 | 21.7% | -3.1% | ||
| Q1 24 | -6.0% | -0.8% |
| Q4 25 | 2.0% | 1.1% | ||
| Q3 25 | 1.2% | 0.7% | ||
| Q2 25 | 0.9% | 0.5% | ||
| Q1 25 | 1.5% | 0.7% | ||
| Q4 24 | 0.6% | 0.6% | ||
| Q3 24 | 0.7% | 0.5% | ||
| Q2 24 | 0.6% | 0.7% | ||
| Q1 24 | 0.5% | 1.4% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -0.93× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -4.24× | ||
| Q3 24 | 5.67× | — | ||
| Q2 24 | 5.65× | -0.46× | ||
| Q1 24 | -0.95× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DCGO
| Transportation Services Segment | $50.2M | 67% |
| Mobile Health Services Segment | $24.8M | 33% |
FORR
| Research Segment | $82.2M | 81% |
| Consulting Segment | $16.2M | 16% |
| Billable Expenses | $1.5M | 2% |
| Professional Services | $1.4M | 1% |
