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Side-by-side financial comparison of DocGo Inc. (DCGO) and Repay Holdings Corp (RPAY). Click either name above to swap in a different company.
Repay Holdings Corp is the larger business by last-quarter revenue ($78.6M vs $74.9M, roughly 1.0× DocGo Inc.). Repay Holdings Corp runs the higher net margin — -178.3% vs -190.0%, a 11.7% gap on every dollar of revenue. On growth, Repay Holdings Corp posted the faster year-over-year revenue change (0.4% vs -38.0%). Repay Holdings Corp produced more free cash flow last quarter ($23.2M vs $-12.0M). Over the past eight quarters, Repay Holdings Corp's revenue compounded faster (-1.3% 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.
Repay Holdings Corp is a leading payment technology provider delivering integrated end-to-end payment processing solutions for businesses across North America. Its offerings include credit/debit card processing, ACH transfer services, POS system integrations and digital payment tools, serving retail, healthcare, automotive and e-commerce segments to help clients streamline transaction workflows and boost operational efficiency.
DCGO vs RPAY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $74.9M | $78.6M |
| Net Profit | $-142.3M | $-140.1M |
| Gross Margin | — | 74.2% |
| Operating Margin | -139.6% | -182.2% |
| Net Margin | -190.0% | -178.3% |
| Revenue YoY | -38.0% | 0.4% |
| Net Profit YoY | -1761.4% | -3304.1% |
| EPS (diluted) | $-1.36 | $-1.68 |
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 | $78.6M | ||
| Q3 25 | $70.8M | $77.7M | ||
| Q2 25 | $80.4M | $75.6M | ||
| Q1 25 | $96.0M | $77.3M | ||
| Q4 24 | $120.8M | $78.3M | ||
| Q3 24 | $138.7M | $79.1M | ||
| Q2 24 | $164.9M | $74.9M | ||
| Q1 24 | $192.1M | $80.7M |
| Q4 25 | $-142.3M | $-140.1M | ||
| Q3 25 | $-27.8M | $-6.4M | ||
| Q2 25 | $-11.2M | $-102.3M | ||
| Q1 25 | $-9.4M | $-7.9M | ||
| Q4 24 | $-7.6M | $-4.1M | ||
| Q3 24 | $5.5M | $3.2M | ||
| Q2 24 | $6.5M | $-4.1M | ||
| Q1 24 | $11.2M | $-5.2M |
| Q4 25 | — | 74.2% | ||
| Q3 25 | — | 74.4% | ||
| Q2 25 | — | 75.7% | ||
| Q1 25 | — | 75.9% | ||
| Q4 24 | — | 76.3% | ||
| Q3 24 | — | 77.8% | ||
| Q2 24 | — | 78.2% | ||
| Q1 24 | — | 76.2% |
| Q4 25 | -139.6% | -182.2% | ||
| Q3 25 | -59.3% | -3.9% | ||
| Q2 25 | -21.7% | -138.7% | ||
| Q1 25 | -14.6% | -4.7% | ||
| Q4 24 | -6.2% | -1.5% | ||
| Q3 24 | 7.3% | -0.9% | ||
| Q2 24 | 6.2% | -4.6% | ||
| Q1 24 | 8.3% | -3.1% |
| Q4 25 | -190.0% | -178.3% | ||
| Q3 25 | -39.2% | -8.3% | ||
| Q2 25 | -13.9% | -135.2% | ||
| Q1 25 | -9.8% | -10.3% | ||
| Q4 24 | -6.3% | -5.3% | ||
| Q3 24 | 4.0% | 4.1% | ||
| Q2 24 | 4.0% | -5.4% | ||
| Q1 24 | 5.8% | -6.5% |
| Q4 25 | $-1.36 | $-1.68 | ||
| Q3 25 | $-0.28 | $-0.08 | ||
| Q2 25 | $-0.11 | $-1.15 | ||
| Q1 25 | $-0.09 | $-0.09 | ||
| Q4 24 | $-0.03 | $-0.04 | ||
| Q3 24 | $0.05 | $0.03 | ||
| Q2 24 | $0.06 | $-0.04 | ||
| Q1 24 | $0.10 | $-0.06 |
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 | $115.7M |
| Total DebtLower is stronger | $235.6K | $280.1M |
| Stockholders' EquityBook value | $144.0M | $484.4M |
| Total Assets | $217.1M | $1.2B |
| Debt / EquityLower = less leverage | 0.00× | 0.58× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $51.0M | $115.7M | ||
| Q3 25 | $73.4M | $95.7M | ||
| Q2 25 | $104.2M | $162.6M | ||
| Q1 25 | $79.0M | $165.5M | ||
| Q4 24 | $89.2M | $189.5M | ||
| Q3 24 | $89.5M | $168.7M | ||
| Q2 24 | $66.1M | $147.1M | ||
| Q1 24 | $41.2M | $128.3M |
| Q4 25 | $235.6K | $280.1M | ||
| Q3 25 | $249.9K | $279.5M | ||
| Q2 25 | $12.6K | $279.0M | ||
| Q1 25 | $15.1K | $497.6M | ||
| Q4 24 | $17.7K | $496.8M | ||
| Q3 24 | $47.7K | $496.2M | ||
| Q2 24 | $52.8K | $435.6M | ||
| Q1 24 | $60.1K | $434.9M |
| Q4 25 | $144.0M | $484.4M | ||
| Q3 25 | $270.5M | $616.9M | ||
| Q2 25 | $297.3M | $633.7M | ||
| Q1 25 | $309.3M | $755.7M | ||
| Q4 24 | $320.9M | $761.3M | ||
| Q3 24 | $325.2M | $754.7M | ||
| Q2 24 | $315.2M | $815.4M | ||
| Q1 24 | $311.3M | $813.8M |
| Q4 25 | $217.1M | $1.2B | ||
| Q3 25 | $353.8M | $1.3B | ||
| Q2 25 | $408.3M | $1.4B | ||
| Q1 25 | $430.8M | $1.5B | ||
| Q4 24 | $455.6M | $1.6B | ||
| Q3 24 | $493.9M | $1.6B | ||
| Q2 24 | $488.2M | $1.5B | ||
| Q1 24 | $490.7M | $1.5B |
| Q4 25 | 0.00× | 0.58× | ||
| Q3 25 | 0.00× | 0.45× | ||
| Q2 25 | 0.00× | 0.44× | ||
| Q1 25 | 0.00× | 0.66× | ||
| Q4 24 | 0.00× | 0.65× | ||
| Q3 24 | 0.00× | 0.66× | ||
| Q2 24 | 0.00× | 0.53× | ||
| Q1 24 | 0.00× | 0.53× |
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 | $23.3M |
| Free Cash FlowOCF − Capex | $-12.0M | $23.2M |
| FCF MarginFCF / Revenue | -16.0% | 29.6% |
| Capex IntensityCapex / Revenue | 2.0% | 0.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $29.9M | $90.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-10.5M | $23.3M | ||
| Q3 25 | $1.7M | $32.2M | ||
| Q2 25 | $33.6M | $33.1M | ||
| Q1 25 | $9.7M | $2.5M | ||
| Q4 24 | $12.7M | $34.3M | ||
| Q3 24 | $31.1M | $60.1M | ||
| Q2 24 | $36.9M | $31.0M | ||
| Q1 24 | $-10.6M | $24.8M |
| Q4 25 | $-12.0M | $23.2M | ||
| Q3 25 | $782.6K | $32.1M | ||
| Q2 25 | $32.9M | $33.0M | ||
| Q1 25 | $8.2M | $2.4M | ||
| Q4 24 | $12.0M | $34.0M | ||
| Q3 24 | $30.2M | $59.8M | ||
| Q2 24 | $35.9M | $30.5M | ||
| Q1 24 | $-11.6M | $24.7M |
| Q4 25 | -16.0% | 29.6% | ||
| Q3 25 | 1.1% | 41.3% | ||
| Q2 25 | 40.9% | 43.6% | ||
| Q1 25 | 8.5% | 3.0% | ||
| Q4 24 | 9.9% | 43.5% | ||
| Q3 24 | 21.8% | 75.6% | ||
| Q2 24 | 21.7% | 40.7% | ||
| Q1 24 | -6.0% | 30.6% |
| Q4 25 | 2.0% | 0.1% | ||
| Q3 25 | 1.2% | 0.2% | ||
| Q2 25 | 0.9% | 0.1% | ||
| Q1 25 | 1.5% | 0.2% | ||
| Q4 24 | 0.6% | 0.3% | ||
| Q3 24 | 0.7% | 0.3% | ||
| Q2 24 | 0.6% | 0.6% | ||
| Q1 24 | 0.5% | 0.1% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 5.67× | 18.52× | ||
| 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% |
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
