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Side-by-side financial comparison of DocGo Inc. (DCGO) and OPAL Fuels Inc. (OPAL). Click either name above to swap in a different company.
OPAL Fuels Inc. is the larger business by last-quarter revenue ($88.4M vs $74.9M, roughly 1.2× DocGo Inc.). OPAL Fuels Inc. runs the higher net margin — 18.3% vs -190.0%, a 208.3% gap on every dollar of revenue. On growth, OPAL Fuels Inc. posted the faster year-over-year revenue change (18.7% vs -38.0%). DocGo Inc. produced more free cash flow last quarter ($-12.0M vs $-13.4M). Over the past eight quarters, OPAL Fuels Inc.'s revenue compounded faster (17.6% 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.
OPAL Fuels Inc. is a North American energy company focused on producing and distributing low-carbon renewable natural gas (RNG). It captures methane from landfills, dairy operations and other organic waste streams to produce RNG, which is mainly supplied to heavy-duty transportation fleets, commercial logistics operators and public transport entities to help reduce their greenhouse gas emissions.
DCGO vs OPAL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $74.9M | $88.4M |
| Net Profit | $-142.3M | $16.2M |
| Gross Margin | — | — |
| Operating Margin | -139.6% | 7.5% |
| Net Margin | -190.0% | 18.3% |
| Revenue YoY | -38.0% | 18.7% |
| Net Profit YoY | -1761.4% | 401.5% |
| 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 | $88.4M | ||
| Q3 25 | $70.8M | $77.9M | ||
| Q2 25 | $80.4M | $77.4M | ||
| Q1 25 | $96.0M | $83.0M | ||
| Q4 24 | $120.8M | $74.5M | ||
| Q3 24 | $138.7M | $82.6M | ||
| Q2 24 | $164.9M | $69.8M | ||
| Q1 24 | $192.1M | $64.0M |
| Q4 25 | $-142.3M | $16.2M | ||
| Q3 25 | $-27.8M | $11.4M | ||
| Q2 25 | $-11.2M | $7.6M | ||
| Q1 25 | $-9.4M | $1.3M | ||
| Q4 24 | $-7.6M | $-5.4M | ||
| Q3 24 | $5.5M | $17.1M | ||
| Q2 24 | $6.5M | $1.9M | ||
| Q1 24 | $11.2M | $677.0K |
| Q4 25 | -139.6% | 7.5% | ||
| Q3 25 | -59.3% | 4.6% | ||
| Q2 25 | -21.7% | -1.1% | ||
| Q1 25 | -14.6% | -2.3% | ||
| Q4 24 | -6.2% | -0.5% | ||
| Q3 24 | 7.3% | 14.9% | ||
| Q2 24 | 6.2% | 8.1% | ||
| Q1 24 | 8.3% | 5.6% |
| Q4 25 | -190.0% | 18.3% | ||
| Q3 25 | -39.2% | 14.6% | ||
| Q2 25 | -13.9% | 9.8% | ||
| Q1 25 | -9.8% | 1.5% | ||
| Q4 24 | -6.3% | -7.2% | ||
| Q3 24 | 4.0% | 20.7% | ||
| Q2 24 | 4.0% | 2.7% | ||
| Q1 24 | 5.8% | 1.1% |
| Q4 25 | $-1.36 | $0.08 | ||
| Q3 25 | $-0.28 | $0.05 | ||
| Q2 25 | $-0.11 | $0.03 | ||
| Q1 25 | $-0.09 | $-0.01 | ||
| Q4 24 | $-0.03 | $-0.05 | ||
| Q3 24 | $0.05 | $0.09 | ||
| Q2 24 | $0.06 | $-0.01 | ||
| Q1 24 | $0.10 | $-0.01 |
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 | $24.4M |
| Total DebtLower is stronger | $235.6K | $361.3M |
| Stockholders' EquityBook value | $144.0M | $-12.9M |
| Total Assets | $217.1M | $959.5M |
| Debt / EquityLower = less leverage | 0.00× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $51.0M | $24.4M | ||
| Q3 25 | $73.4M | $29.9M | ||
| Q2 25 | $104.2M | $29.3M | ||
| Q1 25 | $79.0M | $40.1M | ||
| Q4 24 | $89.2M | $24.3M | ||
| Q3 24 | $89.5M | $31.0M | ||
| Q2 24 | $66.1M | $27.6M | ||
| Q1 24 | $41.2M | $34.2M |
| Q4 25 | $235.6K | $361.3M | ||
| Q3 25 | $249.9K | $351.2M | ||
| Q2 25 | $12.6K | $331.6M | ||
| Q1 25 | $15.1K | $307.0M | ||
| Q4 24 | $17.7K | $307.5M | ||
| Q3 24 | $47.7K | $252.9M | ||
| Q2 24 | $52.8K | $233.3M | ||
| Q1 24 | $60.1K | $208.7M |
| Q4 25 | $144.0M | $-12.9M | ||
| Q3 25 | $270.5M | $7.5M | ||
| Q2 25 | $297.3M | $-25.0M | ||
| Q1 25 | $309.3M | $57.1M | ||
| Q4 24 | $320.9M | $-148.4M | ||
| Q3 24 | $325.2M | $-180.1M | ||
| Q2 24 | $315.2M | $-273.0M | ||
| Q1 24 | $311.3M | $-382.4M |
| Q4 25 | $217.1M | $959.5M | ||
| Q3 25 | $353.8M | $916.7M | ||
| Q2 25 | $408.3M | $905.5M | ||
| Q1 25 | $430.8M | $884.9M | ||
| Q4 24 | $455.6M | $881.1M | ||
| Q3 24 | $493.9M | $831.1M | ||
| Q2 24 | $488.2M | $782.3M | ||
| Q1 24 | $490.7M | $750.5M |
| Q4 25 | 0.00× | — | ||
| Q3 25 | 0.00× | 46.95× | ||
| Q2 25 | 0.00× | — | ||
| Q1 25 | 0.00× | 5.38× | ||
| 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 | $-3.5M |
| Free Cash FlowOCF − Capex | $-12.0M | $-13.4M |
| FCF MarginFCF / Revenue | -16.0% | -15.1% |
| Capex IntensityCapex / Revenue | 2.0% | 11.1% |
| Cash ConversionOCF / Net Profit | — | -0.22× |
| TTM Free Cash FlowTrailing 4 quarters | $29.9M | $-34.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-10.5M | $-3.5M | ||
| Q3 25 | $1.7M | $18.2M | ||
| Q2 25 | $33.6M | $-7.9M | ||
| Q1 25 | $9.7M | $29.7M | ||
| Q4 24 | $12.7M | $-532.0K | ||
| Q3 24 | $31.1M | $17.7M | ||
| Q2 24 | $36.9M | $533.0K | ||
| Q1 24 | $-10.6M | $13.7M |
| Q4 25 | $-12.0M | $-13.4M | ||
| Q3 25 | $782.6K | $-9.3M | ||
| Q2 25 | $32.9M | $-29.7M | ||
| Q1 25 | $8.2M | $18.1M | ||
| Q4 24 | $12.0M | $-55.0M | ||
| Q3 24 | $30.2M | $-5.4M | ||
| Q2 24 | $35.9M | $-22.5M | ||
| Q1 24 | $-11.6M | $-13.0M |
| Q4 25 | -16.0% | -15.1% | ||
| Q3 25 | 1.1% | -11.9% | ||
| Q2 25 | 40.9% | -38.4% | ||
| Q1 25 | 8.5% | 21.8% | ||
| Q4 24 | 9.9% | -73.8% | ||
| Q3 24 | 21.8% | -6.5% | ||
| Q2 24 | 21.7% | -32.2% | ||
| Q1 24 | -6.0% | -20.4% |
| Q4 25 | 2.0% | 11.1% | ||
| Q3 25 | 1.2% | 35.3% | ||
| Q2 25 | 0.9% | 28.2% | ||
| Q1 25 | 1.5% | 13.9% | ||
| Q4 24 | 0.6% | 73.1% | ||
| Q3 24 | 0.7% | 27.9% | ||
| Q2 24 | 0.6% | 32.9% | ||
| Q1 24 | 0.5% | 41.8% |
| Q4 25 | — | -0.22× | ||
| Q3 25 | — | 1.60× | ||
| Q2 25 | — | -1.04× | ||
| Q1 25 | — | 23.11× | ||
| Q4 24 | — | — | ||
| Q3 24 | 5.67× | 1.03× | ||
| Q2 24 | 5.65× | 0.28× | ||
| Q1 24 | -0.95× | 20.26× |
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% |
OPAL
| Fuel Station Services Segment | $65.1M | 74% |
| Related Party | $12.1M | 14% |
| Renewable Power Segment | $8.6M | 10% |
| Other | $2.6M | 3% |
