Financial Performance - For the year ended December 31, 2024, the company recorded net income of $13.4 million, compared to $10.0 million in 2023 and $30.7 million in 2022[344]. - Total revenues for the year ended December 31, 2024, were $616.6 million, a decrease of $7.7 million, or 1.2%, from 2023[362]. - Mobile Health Services revenues decreased by $19.7 million, or 4.4%, to $423.1 million, primarily due to the wind-down of migrant-related services[363]. - Transportation Services revenues increased by $12.0 million, or 6.6%, to $193.5 million, driven by a 13.7% increase in trip volumes[364]. - The company recorded a net income of $13.4 million, an increase of $3.4 million, or 34.0%, compared to $10.0 million in 2023[361]. - The provision for income taxes increased to $14.4 million in 2024 from $6.2 million in 2023, primarily due to higher pretax income[380]. Revenue Segments - The company derives revenue primarily from two segments: Mobile Health Services and Transportation Services[351]. - Mobile Health Services revenues increased to $442.8 million, up $116.9 million, or 35.9%, primarily due to service expansion in the government customer sector[386]. - Transportation Services revenues reached $181.5 million, an increase of $66.9 million, or 58.3%, driven by a 15.8% increase in trip volumes[387]. Expenses and Costs - Total cost of revenues decreased by $25.9 million, or 6.0%, to $403.0 million, with cost of revenues as a percentage of revenues decreasing to 65.4% from 68.7%[365][366]. - Operating expenses increased by $4.6 million, or 2.6%, to $184.9 million, with operating expenses as a percentage of revenues rising to 30.0% from 28.9%[369]. - The company focuses on managing working capital and operating expenses, with significant costs in labor, medical supplies, and vehicle-related expenses[336]. Acquisitions and Investments - The company completed three acquisitions in 2023 for an aggregate purchase price of $34.2 million, while no acquisitions were completed in 2024[342]. - The company plans to invest in research and development to enhance customer experience and introduce innovative new software services and mobile applications[345]. Cash Flow and Working Capital - As of December 31, 2024, available cash totaled $89.2 million, reflecting an increase of $30.0 million compared to December 31, 2023[413]. - For the year ended December 31, 2024, cash provided by operating activities was $70.3 million, a significant increase of $134.5 million compared to cash used of $64.2 million in 2023[415]. - The Company’s total working capital as of December 31, 2024, was $182.7 million, an increase of $13.9 million or 8.2% compared to $168.8 million in 2023[413]. Market Conditions and Risks - The company operates in a competitive environment influenced by macroeconomic conditions, including interest rates and inflation[332]. - The company expects general and administrative expenses to increase as it scales its business and complies with SEC regulations[353]. - The company anticipates that revenues from migrant-related projects will be significantly lower in 2025 compared to 2024 and the second half of 2023[348]. Customer Concentration - One customer accounted for approximately 38% of revenues and 39% of net accounts receivable for the year ended December 31, 2024[458]. - Another customer accounted for approximately 28% of revenues and 37% of net accounts receivable for the same period[458]. Credit and Interest Rate Risk - The Company does not believe it is exposed to significant credit risk due to the financial strength of the depository institutions[457]. - The Company has not utilized interest rate hedging or other strategies to mitigate interest rate risk[454]. - A hypothetical 10% change in interest rates during the year ended December 31, 2024, would have had a neutral net impact on the Consolidated Financial Statements[454].

Revenue Performance - Full-year 2024 revenue was $616.6 million, a decrease of 1.1% from $624.2 million in 2023[5] - Total revenue for Q4 2024 was $120.8 million, down 39.2% from $199.2 million in Q4 2023, primarily due to the wind-down of migrant-related programs[5] - Total revenues for the year ended December 31, 2024, were $616.56 million, a decrease of 1.2% from $624.29 million in 2023[20] - Revenue for Q4 2024 was $120.83 million, a decrease of 39.3% compared to $199.25 million in Q4 2023[39] Net Income and Loss - Full-year 2024 net income increased to $13.4 million, up from $10.0 million in 2023[5] - Q4 2024 net loss was $7.6 million, compared to net income of $8.0 million in Q4 2023[5] - Net income attributable to stockholders of DocGo Inc. for 2024 was $19.99 million, significantly up from $6.86 million in 2023[20] - Net loss attributable to stockholders for Q4 2024 was $3.26 million, compared to a net income of $7.57 million in Q4 2023[27] - Net income (GAAP) for Q4 2024 was a loss of $7.6 million, compared to a profit of $8.0 million in Q4 2023[40] Cash Flow and Assets - Cash flows from operating activities for 2024 were $70.34 million, a significant recovery from a cash outflow of $64.22 million in 2023[23] - Cash and restricted cash at the end of Q4 2024 was $107.34 million, an increase from $72.22 million at the end of Q4 2023[30] - Net cash provided by operating activities for Q4 2024 was $12.89 million, compared to a net cash used of $5.92 million in Q4 2023[30] Expenses and Margins - Total expenses for Q4 2024 were $128.31 million, down from $187.57 million in Q4 2023, resulting in a loss from operations of $7.47 million[27] - Adjusted EBITDA for the twelve months ended December 31, 2024, was $60.3 million, up from $54.0 million in 2023[40] - Adjusted EBITDA margin for the twelve months ended December 31, 2024, was 9.8%, an increase from 8.6% in 2023[40] - GAAP gross profit for the twelve months ended December 31, 2024, was $197.69 million, an increase of 10.4% from $178.95 million in 2023[39] - GAAP gross margin for Q4 2024 was 30.8%, a slight decrease from 31.2% in Q4 2023[40] Assets and Liabilities - Total current assets decreased to $304.49 million in 2024 from $338.87 million in 2023, primarily due to a reduction in accounts receivable[18] - Total liabilities decreased to $140.44 million in 2024 from $185.28 million in 2023, reflecting a reduction in accrued liabilities and contingent consideration[18] - The total stockholders' equity attributable to DocGo Inc. increased to $320.92 million in 2024 from $300.79 million in 2023[18] Strategic Developments - The company signed a two-year contract with a major hospital system in Fort Worth, TX for medical transportation services[8] - DocGo acquired PTI Health to expand its portfolio with mobile phlebotomy services[8] - Investments in the company's tech stack resulted in a 9% reduction in average booking time compared to the previous quarter[8] - The company plans to continue focusing on technology and development, with expenses in this area increasing to $11.59 million in 2024 from $10.86 million in 2023[20] Tax and Other Financial Metrics - The company reported a significant increase in cash paid for income taxes, totaling $7.25 million in Q4 2024, compared to $4.25 million in Q4 2023[29] - The company reported a bad debt expense of $5.24 million in 2024, up from $3.60 million in 2023, indicating increased credit risk[23] - The company incurred a finite-lived intangible asset impairment of $8.31 million in 2024, which was not present in 2023[20] - The company experienced a loss on equity method investments of $86,121 in Q4 2024, compared to a loss of $41,974 in Q4 2023[27] - The company reported a foreign currency translation adjustment loss of $1.09 million in Q4 2024, compared to a gain of $676,734 in Q4 2023[27] Shareholder Information - The weighted-average shares outstanding for basic net income per share were 102.40 million in 2024, down from 103.51 million in 2023[20] - The company repurchased common stock worth $2.68 million in Q4 2024, with no repurchases reported in Q4 2023[30]

DocGo Inc. (DCGO) shares ended the last trading session 7.9% higher at $5.44. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 23.5% gain over the past four weeks.DocGo Inc. recorded a strong price rise on investors’ optimism surrounding the company’s latest acquisition of PTI Health, a mobile lab collection and phlebotomy services company. With this acquisition, DocGo will facilitate timely, convenient blood collec ...

Financial Data and Key Metrics - Q3 2024 revenue was $138.7 million, a 26% decrease YoY, driven by the wind-down of migrant-related projects [17] - Adjusted EBITDA for Q3 2024 was $17.9 million, up from $16.7 million in Q3 2023, with an adjusted EBITDA margin of 12.9%, up from 8.9% YoY [18] - Mobile Health revenue for Q3 2024 was $90.7 million, down 35% YoY, while Transportation revenue increased to $48 million, up 2% YoY [17] - Total cash and cash equivalents balance reached $108.6 million, up from $85.8 million in Q2 2024 [22] - GAAP gross margin for Q3 2024 was 33%, up from 27.2% in Q3 2023, with adjusted gross margin at 36%, up from 29.5% YoY [19] Business Line Performance - Mobile Health segment saw adjusted gross margins of 38.8% in Q3 2024, up from 28.8% in Q3 2023, driven by improved subcontractor costs [20] - Transportation segment adjusted gross margins were 30.7% in Q3 2024, down from 31.7% in Q3 2023, but improved by 160 basis points from Q2 2024 [20] - Care gap closure programs more than doubled the number of assigned lives sequentially from Q2 to Q3, exceeding 500,000 patients [5] - The company expects to exit 2024 at a run rate of 1,000 care gap visits per week, with a goal of 65,000 visits in 2025 [10] Market Performance - The company expanded its mobile health plan partnerships, particularly on the West Coast, with new hubs in San Diego, Los Angeles, and Sacramento [5] - In the municipal population health vertical, the company extended the Street Health Outreach + Wellness contract for a fourth year in New York City [13] - The company received an expansion with the New Mexico Department of Health, broadening the scope of clinical services at public health offices [14] - In the hospital vertical, the company signed or is close to signing several small- to medium-sized contracts, with expansion in the Northeast and Dallas markets [15] Strategy and Industry Competition - The company is focusing on value-based care arrangements with insurance partners, aiming to support long-term growth and vision [11] - The addition of Dr. Stephen Klasko as Chair of the Board brings extensive healthcare experience and a network that could optimize patient care and operational efficiency [16] - The company is leveraging its proprietary technology platform to track providers and dispatch both medical transportation and mobile health resources, a unique combination in the industry [15] Management Commentary on Operating Environment and Future Outlook - The company fine-tuned its 2024 guidance to $620 million to $630 million in revenue and $70 million to $75 million in adjusted EBITDA, with increased cash flow from operations expectations [6] - For 2025, the company issued consolidated revenue guidance of $410 million to $450 million, including $50 million in migrant-related revenue [7] - Management emphasized the strong pipeline and operational execution, with a focus on expanding payer programs and maintaining high-quality service delivery [8][9] Other Important Information - The company generated $31 million in cash flow from operations in Q3 2024, with total cash and cash equivalents now over $108 million [8] - The company expects to generate $90 million to $100 million in cash flow from operations in 2024, with $57 million already generated through the first nine months [23] - The company is actively managing operating expenses as migrant programs wind down, with SG&A as a percentage of revenue expected to increase in the coming quarters [21] Q&A Session Summary Question: What drove the strong EBITDA beat in Q3 2024? - The EBITDA beat was driven by higher-than-expected gross margins, particularly in the Mobile Health segment, which benefited from a favorable mix of migrant-related programs [27] - SG&A expenses were well-controlled, down 14% YoY, due to cost-cutting measures [28] Question: How does the 2025 guidance compare to previous expectations? - The 2025 guidance includes $50 million in migrant-related revenue, which is healthcare-focused and aligned with population health services [32] - The adjusted EBITDA margin range of 8% to 10% reflects investments in expansion and quality of service, particularly in payer programs [33] Question: How are care gap closure contracts impacting margins? - Care gap closure contracts are priced to preserve historical margins, but rapid expansion requires upfront investments in training and staffing, which may temporarily impact margins [37] Question: What is the outlook for the non-migrant municipal population health business? - The non-migrant municipal population health business is expected to generate $240 million to $260 million in 2024, revised from previous forecasts due to the extended wind-down of migrant-related programs [40] Question: How has the Medicare Advantage star ratings issue impacted the payer business? - The Medicare Advantage star ratings issue has created opportunities for the company to scale up care gap closure programs, with increased traction from both existing and new payer partners [44][46]

分组1 - DocGo Inc. reported quarterly earnings of $0.05 per share, exceeding the Zacks Consensus Estimate of $0.04 per share, with a year-over-year comparison showing no change [1] - The earnings surprise for the quarter was 25%, while the previous quarter saw an earnings miss of -14.29% [1][2] - Over the last four quarters, the company has surpassed consensus EPS estimates only once [2] 分组2 - Motion Acquisition reported revenues of $138.69 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 0.65%, and down from $186.55 million year-over-year [2] - The company has topped consensus revenue estimates two times over the last four quarters [2] - Motion Acquisition shares have declined approximately 34.7% year-to-date, contrasting with the S&P 500's gain of 24.3% [3] 分组3 - The future performance of Motion Acquisition's stock will largely depend on management's commentary during the earnings call and the earnings outlook [4][6] - Current consensus EPS estimate for the upcoming quarter is $0.04 on revenues of $126.93 million, and for the current fiscal year, it is $0.24 on revenues of $623.55 million [7] - The Zacks Industry Rank indicates that the Medical Services sector is currently in the bottom 45% of over 250 Zacks industries, which may impact stock performance [8]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39618 DocGo Inc. (Exact Name of Registrant as Specified in Its Charter) | --- | --- | |------------------ ...

Exhibit 99.1 DocGo Announces Third Quarter 2024 Results Company Significantly Expands Operations on the West Coast to Support New Payer Programs, Increases Full-Year Guidance for Cash Flow from Operations Management to Host Conference Call and Webcast Today at 5:00 PM Eastern Time NEW YORK, NY, November 7, 2024 – DocGo Inc. (Nasdaq: DCGO) ("DocGo" or the "Company"), a leading provider of technology-enabled mobile health services, today announced financial and operating results for the quarter ended Septembe ...

DocGo Inc. (DCGO) came out with quarterly earnings of $0.06 per share, missing the Zacks Consensus Estimate of $0.07 per share. This compares to loss of $0.02 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -14.29%. A quarter ago, it was expected that this company would post earnings of $0.09 per share when it actually produced earnings of $0.09, delivering no surprise. Over the last four quarters, the company has not been ab ...

DocGo Announces Record Second Quarter 2023 Results August 7, 2023 at 4:05 PM EDT Company Raises 2023 Revenue Guidance To $540-$550 Million Increases Adjusted EBITDA1 Guidance To $48-$53 Million NEW YORK--(BUSINESS WIRE)--Aug. 7, 2023-- DocGo Inc. (Nasdaq: DCGO), a leading provider of last-mile mobile health services today announced financial and operating results for the quarter ended June 30, 2023. Q2 2023 Financial Highlights Total revenue for the second quarter of 2023 was $125.5 million, up from $113.0 ...

DocGo Inc. (NASDAQ:DCGO) Q2 2024 Earnings Conference Call August 7, 2024 5:00 PM ET Company Participants Mike Cole – Vice President, Investor Relations Lee Bienstock - Chief Executive Officer Norman Rosenberg - Chief Financial Officer Conference Call Participants Sarah James - Cantor Fitzgerald Mike Latimore - Northland Capital Markets David Larsen – BTIG Pito Chickering - Deutsche Bank David Grossman - Stifel Ryan MacDonald - Needam Richard Close - Canaccord Genuity Operator Good day everyone, and welcome ...