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Side-by-side financial comparison of DocGo Inc. (DCGO) and InnovAge Holding Corp. (INNV). Click either name above to swap in a different company.
InnovAge Holding Corp. is the larger business by last-quarter revenue ($239.7M vs $74.9M, roughly 3.2× DocGo Inc.). InnovAge Holding Corp. runs the higher net margin — 4.4% vs -190.0%, a 194.4% gap on every dollar of revenue. On growth, InnovAge Holding Corp. posted the faster year-over-year revenue change (14.7% vs -38.0%). InnovAge Holding Corp. produced more free cash flow last quarter ($19.0M vs $-12.0M). Over the past eight quarters, InnovAge Holding Corp.'s revenue compounded faster (11.4% 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.
InnovAge Holding Corp.INNVEarnings & Financial Report
InnovAge Holding Corp is a leading U.S. senior care provider, primarily operating the Program of All-Inclusive Care for the Elderly (PACE). It offers integrated medical care, social support, and daily living assistance to help eligible older adults stay in their homes instead of nursing facilities, serving users across multiple U.S. states.
DCGO vs INNV — Head-to-Head
Income Statement — Q4 2025 vs Q2 2026
| Metric | | |
|---|---|---|
| Revenue | $74.9M | $239.7M |
| Net Profit | $-142.3M | $10.6M |
| Gross Margin | — | 22.0% |
| Operating Margin | -139.6% | 5.5% |
| Net Margin | -190.0% | 4.4% |
| Revenue YoY | -38.0% | 14.7% |
| Net Profit YoY | -1761.4% | 180.3% |
| EPS (diluted) | $-1.36 | $0.08 |
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 | $239.7M | ||
| Q3 25 | $70.8M | $236.1M | ||
| Q2 25 | $80.4M | $221.4M | ||
| Q1 25 | $96.0M | $218.1M | ||
| Q4 24 | $120.8M | $209.0M | ||
| Q3 24 | $138.7M | $205.1M | ||
| Q2 24 | $164.9M | $199.4M | ||
| Q1 24 | $192.1M | $193.1M |
| Q4 25 | $-142.3M | $10.6M | ||
| Q3 25 | $-27.8M | $8.0M | ||
| Q2 25 | $-11.2M | $-785.0K | ||
| Q1 25 | $-9.4M | $-11.4M | ||
| Q4 24 | $-7.6M | $-13.2M | ||
| Q3 24 | $5.5M | $-4.9M | ||
| Q2 24 | $6.5M | $-1.7M | ||
| Q1 24 | $11.2M | $-5.9M |
| Q4 25 | — | 22.0% | ||
| Q3 25 | — | 21.8% | ||
| Q2 25 | — | 18.6% | ||
| Q1 25 | — | 18.7% | ||
| Q4 24 | — | 17.7% | ||
| Q3 24 | — | 16.8% | ||
| Q2 24 | — | 18.3% | ||
| Q1 24 | — | 17.6% |
| Q4 25 | -139.6% | 5.5% | ||
| Q3 25 | -59.3% | 3.5% | ||
| Q2 25 | -21.7% | -1.0% | ||
| Q1 25 | -14.6% | -4.7% | ||
| Q4 24 | -6.2% | -6.0% | ||
| Q3 24 | 7.3% | -2.4% | ||
| Q2 24 | 6.2% | -2.4% | ||
| Q1 24 | 8.3% | -3.0% |
| Q4 25 | -190.0% | 4.4% | ||
| Q3 25 | -39.2% | 3.4% | ||
| Q2 25 | -13.9% | -0.4% | ||
| Q1 25 | -9.8% | -5.2% | ||
| Q4 24 | -6.3% | -6.3% | ||
| Q3 24 | 4.0% | -2.4% | ||
| Q2 24 | 4.0% | -0.9% | ||
| Q1 24 | 5.8% | -3.0% |
| Q4 25 | $-1.36 | $0.08 | ||
| Q3 25 | $-0.28 | $0.06 | ||
| Q2 25 | $-0.11 | $0.00 | ||
| Q1 25 | $-0.09 | $-0.08 | ||
| Q4 24 | $-0.03 | $-0.10 | ||
| Q3 24 | $0.05 | $-0.04 | ||
| Q2 24 | $0.06 | $-0.01 | ||
| Q1 24 | $0.10 | $-0.04 |
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 | $126.0M |
| Total DebtLower is stronger | $235.6K | — |
| Stockholders' EquityBook value | $144.0M | $256.8M |
| Total Assets | $217.1M | $527.5M |
| Debt / EquityLower = less leverage | 0.00× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $51.0M | $126.0M | ||
| Q3 25 | $73.4M | $109.4M | ||
| Q2 25 | $104.2M | $105.9M | ||
| Q1 25 | $79.0M | $101.7M | ||
| Q4 24 | $89.2M | $86.9M | ||
| Q3 24 | $89.5M | $85.7M | ||
| Q2 24 | $66.1M | $102.8M | ||
| Q1 24 | $41.2M | $99.3M |
| Q4 25 | $235.6K | — | ||
| Q3 25 | $249.9K | — | ||
| Q2 25 | $12.6K | $60.0M | ||
| Q1 25 | $15.1K | — | ||
| Q4 24 | $17.7K | — | ||
| Q3 24 | $47.7K | — | ||
| Q2 24 | $52.8K | $66.0M | ||
| Q1 24 | $60.1K | — |
| Q4 25 | $144.0M | $256.8M | ||
| Q3 25 | $270.5M | $245.0M | ||
| Q2 25 | $297.3M | $235.0M | ||
| Q1 25 | $309.3M | $238.0M | ||
| Q4 24 | $320.9M | $248.5M | ||
| Q3 24 | $325.2M | $260.9M | ||
| Q2 24 | $315.2M | $269.3M | ||
| Q1 24 | $311.3M | $281.1M |
| Q4 25 | $217.1M | $527.5M | ||
| Q3 25 | $353.8M | $510.2M | ||
| Q2 25 | $408.3M | $526.9M | ||
| Q1 25 | $430.8M | $536.6M | ||
| Q4 24 | $455.6M | $524.8M | ||
| Q3 24 | $493.9M | $527.7M | ||
| Q2 24 | $488.2M | $547.7M | ||
| Q1 24 | $490.7M | $527.4M |
| Q4 25 | 0.00× | — | ||
| Q3 25 | 0.00× | — | ||
| Q2 25 | 0.00× | 0.26× | ||
| Q1 25 | 0.00× | — | ||
| Q4 24 | 0.00× | — | ||
| Q3 24 | 0.00× | — | ||
| Q2 24 | 0.00× | 0.25× | ||
| 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 | $21.4M |
| Free Cash FlowOCF − Capex | $-12.0M | $19.0M |
| FCF MarginFCF / Revenue | -16.0% | 7.9% |
| Capex IntensityCapex / Revenue | 2.0% | 1.0% |
| Cash ConversionOCF / Net Profit | — | 2.01× |
| TTM Free Cash FlowTrailing 4 quarters | $29.9M | $49.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-10.5M | $21.4M | ||
| Q3 25 | $1.7M | $3.9M | ||
| Q2 25 | $33.6M | $9.0M | ||
| Q1 25 | $9.7M | $24.6M | ||
| Q4 24 | $12.7M | $6.8M | ||
| Q3 24 | $31.1M | $-7.5M | ||
| Q2 24 | $36.9M | $1.9M | ||
| Q1 24 | $-10.6M | $3.5M |
| Q4 25 | $-12.0M | $19.0M | ||
| Q3 25 | $782.6K | $-153.0K | ||
| Q2 25 | $32.9M | $8.8M | ||
| Q1 25 | $8.2M | $21.7M | ||
| Q4 24 | $12.0M | $5.4M | ||
| Q3 24 | $30.2M | $-9.7M | ||
| Q2 24 | $35.9M | $-1.4M | ||
| Q1 24 | $-11.6M | $3.1M |
| Q4 25 | -16.0% | 7.9% | ||
| Q3 25 | 1.1% | -0.1% | ||
| Q2 25 | 40.9% | 4.0% | ||
| Q1 25 | 8.5% | 10.0% | ||
| Q4 24 | 9.9% | 2.6% | ||
| Q3 24 | 21.8% | -4.7% | ||
| Q2 24 | 21.7% | -0.7% | ||
| Q1 24 | -6.0% | 1.6% |
| Q4 25 | 2.0% | 1.0% | ||
| Q3 25 | 1.2% | 1.7% | ||
| Q2 25 | 0.9% | 0.1% | ||
| Q1 25 | 1.5% | 1.3% | ||
| Q4 24 | 0.6% | 0.6% | ||
| Q3 24 | 0.7% | 1.1% | ||
| Q2 24 | 0.6% | 1.7% | ||
| Q1 24 | 0.5% | 0.2% |
| Q4 25 | — | 2.01× | ||
| Q3 25 | — | 0.49× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 5.67× | — | ||
| Q2 24 | 5.65× | — | ||
| 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% |
INNV
Segment breakdown not available.
