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Side-by-side financial comparison of DocGo Inc. (DCGO) and INNOVATIVE INDUSTRIAL PROPERTIES INC (IIPR). Click either name above to swap in a different company.

DocGo Inc. is the larger business by last-quarter revenue ($74.9M vs $66.7M, roughly 1.1× INNOVATIVE INDUSTRIAL PROPERTIES INC). INNOVATIVE INDUSTRIAL PROPERTIES INC runs the higher net margin — 47.8% vs -190.0%, a 237.7% gap on every dollar of revenue. On growth, INNOVATIVE INDUSTRIAL PROPERTIES INC posted the faster year-over-year revenue change (-13.1% vs -38.0%). Over the past eight quarters, INNOVATIVE INDUSTRIAL PROPERTIES INC's revenue compounded faster (-6.0% 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.

Oxford Properties is a Canadian multinational corporation, with operations in real estate investment, development and property management. Its portfolio includes office, retail, industrial, multi-residential, life sciences and hotel assets. Established privately in 1960 and later wholly owned by the Ontario Municipal Employees Retirement System (OMERS) since 2003, the company is headquartered in Toronto with regional head offices in New York City, London, Australia, Singapore and Luxembourg. ...

DCGO vs IIPR — Head-to-Head

Bigger by revenue
DCGO
DCGO
1.1× larger
DCGO
$74.9M
$66.7M
IIPR
Growing faster (revenue YoY)
IIPR
IIPR
+24.8% gap
IIPR
-13.1%
-38.0%
DCGO
Higher net margin
IIPR
IIPR
237.7% more per $
IIPR
47.8%
-190.0%
DCGO
Faster 2-yr revenue CAGR
IIPR
IIPR
Annualised
IIPR
-6.0%
-37.5%
DCGO

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
DCGO
DCGO
IIPR
IIPR
Revenue
$74.9M
$66.7M
Net Profit
$-142.3M
$31.8M
Gross Margin
Operating Margin
-139.6%
47.8%
Net Margin
-190.0%
47.8%
Revenue YoY
-38.0%
-13.1%
Net Profit YoY
-1761.4%
-20.4%
EPS (diluted)
$-1.36
$1.07

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.

Revenue
DCGO
DCGO
IIPR
IIPR
Q4 25
$74.9M
$66.7M
Q3 25
$70.8M
$64.7M
Q2 25
$80.4M
$62.9M
Q1 25
$96.0M
$71.7M
Q4 24
$120.8M
$76.7M
Q3 24
$138.7M
$76.5M
Q2 24
$164.9M
$79.8M
Q1 24
$192.1M
$75.5M
Net Profit
DCGO
DCGO
IIPR
IIPR
Q4 25
$-142.3M
$31.8M
Q3 25
$-27.8M
$29.3M
Q2 25
$-11.2M
$26.0M
Q1 25
$-9.4M
$31.1M
Q4 24
$-7.6M
$40.0M
Q3 24
$5.5M
$40.2M
Q2 24
$6.5M
$42.0M
Q1 24
$11.2M
$39.4M
Operating Margin
DCGO
DCGO
IIPR
IIPR
Q4 25
-139.6%
47.8%
Q3 25
-59.3%
45.5%
Q2 25
-21.7%
45.9%
Q1 25
-14.6%
47.4%
Q4 24
-6.2%
54.7%
Q3 24
7.3%
54.8%
Q2 24
6.2%
53.1%
Q1 24
8.3%
55.7%
Net Margin
DCGO
DCGO
IIPR
IIPR
Q4 25
-190.0%
47.8%
Q3 25
-39.2%
45.3%
Q2 25
-13.9%
41.4%
Q1 25
-9.8%
43.3%
Q4 24
-6.3%
52.2%
Q3 24
4.0%
52.6%
Q2 24
4.0%
52.6%
Q1 24
5.8%
52.3%
EPS (diluted)
DCGO
DCGO
IIPR
IIPR
Q4 25
$-1.36
$1.07
Q3 25
$-0.28
$0.97
Q2 25
$-0.11
$0.86
Q1 25
$-0.09
$1.03
Q4 24
$-0.03
$1.35
Q3 24
$0.05
$1.37
Q2 24
$0.06
$1.44
Q1 24
$0.10
$1.36

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
DCGO
DCGO
IIPR
IIPR
Cash + ST InvestmentsLiquidity on hand
$51.0M
$47.6M
Total DebtLower is stronger
$235.6K
$393.7M
Stockholders' EquityBook value
$144.0M
$1.8B
Total Assets
$217.1M
$2.4B
Debt / EquityLower = less leverage
0.00×
0.21×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
DCGO
DCGO
IIPR
IIPR
Q4 25
$51.0M
$47.6M
Q3 25
$73.4M
$41.9M
Q2 25
$104.2M
$104.9M
Q1 25
$79.0M
$133.3M
Q4 24
$89.2M
$151.2M
Q3 24
$89.5M
$172.4M
Q2 24
$66.1M
$160.9M
Q1 24
$41.2M
$173.5M
Total Debt
DCGO
DCGO
IIPR
IIPR
Q4 25
$235.6K
$393.7M
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
Stockholders' Equity
DCGO
DCGO
IIPR
IIPR
Q4 25
$144.0M
$1.8B
Q3 25
$270.5M
$1.9B
Q2 25
$297.3M
$1.9B
Q1 25
$309.3M
$1.9B
Q4 24
$320.9M
$1.9B
Q3 24
$325.2M
$1.9B
Q2 24
$315.2M
$1.9B
Q1 24
$311.3M
$2.0B
Total Assets
DCGO
DCGO
IIPR
IIPR
Q4 25
$217.1M
$2.4B
Q3 25
$353.8M
$2.3B
Q2 25
$408.3M
$2.3B
Q1 25
$430.8M
$2.4B
Q4 24
$455.6M
$2.4B
Q3 24
$493.9M
$2.4B
Q2 24
$488.2M
$2.4B
Q1 24
$490.7M
$2.4B
Debt / Equity
DCGO
DCGO
IIPR
IIPR
Q4 25
0.00×
0.21×
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
DCGO
DCGO
IIPR
IIPR
Operating Cash FlowLast quarter
$-10.5M
$198.2M
Free Cash FlowOCF − Capex
$-12.0M
FCF MarginFCF / Revenue
-16.0%
Capex IntensityCapex / Revenue
2.0%
Cash ConversionOCF / Net Profit
6.22×
TTM Free Cash FlowTrailing 4 quarters
$29.9M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
DCGO
DCGO
IIPR
IIPR
Q4 25
$-10.5M
$198.2M
Q3 25
$1.7M
$45.6M
Q2 25
$33.6M
$48.4M
Q1 25
$9.7M
$54.2M
Q4 24
$12.7M
$258.4M
Q3 24
$31.1M
$64.9M
Q2 24
$36.9M
$64.2M
Q1 24
$-10.6M
$71.6M
Free Cash Flow
DCGO
DCGO
IIPR
IIPR
Q4 25
$-12.0M
Q3 25
$782.6K
Q2 25
$32.9M
Q1 25
$8.2M
Q4 24
$12.0M
Q3 24
$30.2M
Q2 24
$35.9M
Q1 24
$-11.6M
FCF Margin
DCGO
DCGO
IIPR
IIPR
Q4 25
-16.0%
Q3 25
1.1%
Q2 25
40.9%
Q1 25
8.5%
Q4 24
9.9%
Q3 24
21.8%
Q2 24
21.7%
Q1 24
-6.0%
Capex Intensity
DCGO
DCGO
IIPR
IIPR
Q4 25
2.0%
Q3 25
1.2%
Q2 25
0.9%
Q1 25
1.5%
Q4 24
0.6%
Q3 24
0.7%
Q2 24
0.6%
Q1 24
0.5%
Cash Conversion
DCGO
DCGO
IIPR
IIPR
Q4 25
6.22×
Q3 25
1.56×
Q2 25
1.86×
Q1 25
1.75×
Q4 24
6.46×
Q3 24
5.67×
1.61×
Q2 24
5.65×
1.53×
Q1 24
-0.95×
1.82×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

DCGO
DCGO

Transportation Services Segment$50.2M67%
Mobile Health Services Segment$24.8M33%

IIPR
IIPR

Segment breakdown not available.

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