Q1 2025 DocGo Inc Earnings Call Transcript

May 8, 2025 / 09:00 PM GMT

Release Date Price: $2.33 (-2.92%)

Transcript 10-Q8-K

Key Points

Positve

DocGo Inc (DCGO) is experiencing strong growth in its medical transportation business, with a projected 575,000 total transports by the end of 2025 and potential to reach 700,000 by 2026.
The company has successfully integrated its technology platform with industry-leading EHRs, providing transparency and securing new contracts with health system partners.
The payer and provider vertical has shown substantial growth, with assigned lives increasing from 700,000 to over 900,000 in a quarter.
DocGo Inc (DCGO) has expanded its service offerings by acquiring PTI Health, a mobile lab collection and phlebotomy company, expected to complete over 125,000 blood draws in 2025.
The company maintains a strong balance sheet, projecting positive cash flow from operations and expecting to end the year with over $110 million in cash, enabling it to be debt-free.

Negative

DocGo Inc (DCGO) has removed its government population health vertical from 2025 guidance due to policy changes and budget cuts, leading to substantial uncertainty and delays in municipal project launches.
The company revised its 2025 revenue guidance down from $410-$450 million to $300-$330 million, with an expected adjusted EBITDA loss of $20-$30 million.
There is a significant decline in total revenue for Q1 2025, down to $96 million from $192.1 million in Q1 2024, primarily due to the wind down of migrant-related projects.
The adjusted gross margin for the mobile health segment decreased from 35.5% in Q1 2024 to 30.8% in Q1 2025, impacted by the early-stage payer and provider business.
SG&A expenses remain elevated as a percentage of total revenues, increasing from 26.8% in Q1 2024 to 46.7% in Q1 2025, despite efforts to reduce costs.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

DCGO.OQ - DocGo Inc
Q1 2025 DocGo Inc Earnings Call
May 08, 2025 / 09:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon ladies and gentlemen, and welcome to the dot go first quarter earnings conference call.

At this time, all lines are in listen-only mode. Following the presentation, we will conduct a question and answer session.

If at any time during this call you require immediate assistance, please press tarta 0o for the operator.

This call is being recorded on a Thursday, May 8th, 2025. I would now like to turn the conference over to Mike Cole, VP of Investor Relations. Please go ahead.

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Unidentified_2 [2]
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Thank you, operator. Before turning the

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