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DocGo vs InnovAge: revenue, profit, margins and growth compared

DocGo brought in $322.2M of revenue in fiscal 2025, InnovAge $989.7M in fiscal 2026. Revenue changed by -47.7% at DocGo and +15.9% at InnovAge on the year before, so InnovAge grew faster. DocGo kept -56.6% of its revenue as net profit, InnovAge -0.3%. Free cash flow was $29.9M at DocGo and $50.4M at InnovAge.

Side by side, latest fiscal year

DCGOINNV
Fiscal year endedFY2025 (December 31, 2025)FY2026 (June 30, 2026)
Revenue$322.2M$989.7M
Revenue growth-47.7%+15.9%
Net income-$182.4M-$2.5M
Net margin-56.6%-0.3%
Free cash flow$29.9M$50.4M
Free cash flow margin9.3%5.1%
Earnings per share (diluted)-$1.84-$0.02
Cash$51M$97.9M
Debt$235.6K$48.8M
Price to earningsn/an/a
Market value$34.1M$1.2B
Dividend yieldn/an/a
Rank by revenue in sector#217 of 523 · Health care#145 of 523 · Health care

Over the years

Revenue
DCGO FY2020: $94.1MDCGO FY2021: $318.7MDCGO FY2022: $440.5MDCGO FY2023: $624.3MDCGO FY2024: $616.6MDCGO FY2025: $322.2MINNV FY2021: $567.2MINNV FY2021: $637.8MINNV FY2022: $698.6MINNV FY2023: $688.1MINNV FY2024: $763.9MINNV FY2025: $853.7MINNV FY2026: $989.7MFY20FY21FY22FY23FY24FY25FY26
DCGO $322.2MINNV $989.7M
Net income
DCGO FY2020: -$14.8MDCGO FY2021: $23.7MDCGO FY2022: $34.6MDCGO FY2023: $6.9MDCGO FY2024: $20MDCGO FY2025: -$182.4MINNV FY2021: $26.3MINNV FY2021: -$44MINNV FY2022: -$6.5MINNV FY2023: -$40.7MINNV FY2024: -$21.3MINNV FY2025: -$30.3MINNV FY2026: -$2.5MFY20FY21FY22FY23FY24FY25FY26
DCGO -$182.4MINNV -$2.5M
Net margin
DCGO FY2020: -15.7%DCGO FY2021: 7.4%DCGO FY2022: 7.9%DCGO FY2023: 1.1%DCGO FY2024: 3.2%DCGO FY2025: -56.6%INNV FY2021: 4.6%INNV FY2021: -6.9%INNV FY2022: -0.9%INNV FY2023: -5.9%INNV FY2024: -2.8%INNV FY2025: -3.6%INNV FY2026: -0.3%FY20FY21FY22FY23FY24FY25FY26
DCGO -56.6%INNV -0.3%
Revenue growth
DCGO FY2021: +238.7%DCGO FY2022: +38.2%DCGO FY2023: +41.7%DCGO FY2024: -1.2%DCGO FY2025: -47.7%INNV FY2021: +12.4%INNV FY2022: +9.5%INNV FY2023: -1.5%INNV FY2024: +11.0%INNV FY2025: +11.8%INNV FY2026: +15.9%FY21FY22FY23FY24FY25FY26
DCGO -47.7%INNV +15.9%
Free cash flow
DCGO FY2020: -$15MDCGO FY2021: -$6.8MDCGO FY2022: $25.7MDCGO FY2023: -$71.8MDCGO FY2024: $66.5MDCGO FY2025: $29.9MINNV FY2021: $32MINNV FY2021: -$25.1MINNV FY2022: -$10.9MINNV FY2023: -$3.1MINNV FY2024: -$44.8MINNV FY2025: $26.6MINNV FY2026: $50.4MFY20FY21FY22FY23FY24FY25FY26
DCGO $29.9MINNV $50.4M

Fiscal years as each company reports them; the two may end in different months.

Questions about DocGo and InnovAge

Which is bigger by revenue, DocGo or InnovAge?

InnovAge is bigger by revenue: $989.7M in fiscal 2026, against $322.2M for DocGo in fiscal 2025.

Which keeps more of its revenue as profit, DocGo or InnovAge?

DocGo had a net margin of -56.6% in fiscal 2025; InnovAge had -0.3% in fiscal 2026.

Which grew revenue faster, DocGo or InnovAge?

In their latest fiscal years revenue changed by -47.7% at DocGo and +15.9% at InnovAge.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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