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DocGo vs LifeStance Health: revenue, profit, margins and growth compared

DocGo brought in $322.2M of revenue in fiscal 2025, LifeStance Health $1.4B in fiscal 2025. Revenue changed by -47.7% at DocGo and +13.9% at LifeStance Health on the year before, so LifeStance Health grew faster. DocGo kept -56.6% of its revenue as net profit, LifeStance Health 0.7%. Free cash flow was $29.9M at DocGo and $110M at LifeStance Health.

Side by side, latest fiscal year

DCGOLFST
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$322.2M$1.4B
Revenue growth-47.7%+13.9%
Net income-$182.4M$9.7M
Net margin-56.6%0.7%
Free cash flow$29.9M$110M
Free cash flow margin9.3%7.7%
Earnings per share (diluted)-$1.84n/a
Cash$51M$248.6M
Debt$235.6K$282.8M
Price to earningsn/an/a
Market value$34.1M$4.5B
Dividend yieldn/an/a
Rank by revenue in sector#217 of 523 · Health care#126 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: $322.2MLFST FY2019: $212.5MLFST FY2021: $667.5MLFST FY2022: $859.5MLFST FY2023: $1.1BLFST FY2024: $1.3BLFST FY2025: $1.4BFY19FY20FY21FY22FY23FY24FY25
DCGO $322.2MLFST $1.4B
Net income
DCGO FY2020: -$14.8MDCGO FY2021: $23.7MDCGO FY2022: $34.6MDCGO FY2023: $6.9MDCGO FY2024: $20MDCGO FY2025: -$182.4MLFST FY2019: $5.7MLFST FY2021: -$307.2MLFST FY2022: -$215.6MLFST FY2023: -$186.3MLFST FY2024: -$57.4MLFST FY2025: $9.7MFY19FY20FY21FY22FY23FY24FY25
DCGO -$182.4MLFST $9.7M
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%LFST FY2019: 2.7%LFST FY2021: -46.0%LFST FY2022: -25.1%LFST FY2023: -17.6%LFST FY2024: -4.6%LFST FY2025: 0.7%FY19FY20FY21FY22FY23FY24FY25
DCGO -56.6%LFST 0.7%
Revenue growth
DCGO FY2021: +238.7%DCGO FY2022: +38.2%DCGO FY2023: +41.7%DCGO FY2024: -1.2%DCGO FY2025: -47.7%LFST FY2022: +28.8%LFST FY2023: +22.8%LFST FY2024: +18.5%LFST FY2025: +13.9%FY21FY22FY23FY24FY25
DCGO -47.7%LFST +13.9%
Free cash flow
DCGO FY2020: -$15MDCGO FY2021: -$6.8MDCGO FY2022: $25.7MDCGO FY2023: -$71.8MDCGO FY2024: $66.5MDCGO FY2025: $29.9MLFST FY2019: $2.7MLFST FY2021: -$85.1MLFST FY2022: -$26.5MLFST FY2023: -$57.4MLFST FY2024: $85.7MLFST FY2025: $110MFY19FY20FY21FY22FY23FY24FY25
DCGO $29.9MLFST $110M

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

Questions about DocGo and LifeStance Health

Which is bigger by revenue, DocGo or LifeStance Health?

LifeStance Health is bigger by revenue: $1.4B in fiscal 2025, against $322.2M for DocGo in fiscal 2025.

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

DocGo had a net margin of -56.6% in fiscal 2025; LifeStance Health had 0.7% in fiscal 2025.

Which grew revenue faster, DocGo or LifeStance Health?

In their latest fiscal years revenue changed by -47.7% at DocGo and +13.9% at LifeStance Health.

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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