Exhibit 99.1 DocGo Announces Strong First Quarter 2024 Results Company Reports First Quarter Net Income of $10.6 Million and Record Adjusted EBITDA of $24.1 Million 1 Management to Host Conference Call and Webcast Today at 5:00 PM Eastern Time NEW YORK, NY, May 8, 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 March 31, 2024. First Quarter 2024 Financial Highli ...

NEW YORK--(BUSINESS WIRE)--DocGo Inc. (Nasdaq: DCGO) (“DocGo” or the “Company”), a leading provider of technology-enabled mobile health services, announced today that as of March 12, 2024, it has repurchased a total of 1.25 million shares of its common stock at an average of $3.88 per share under its share repurchase program announced on January 31, 2024 (the “Repurchase Program”). Pursuant to the Repurchase Program, DocGo is authorized to purchase up to $36 million of its common stock during a 6-month peri ...

DocGo, Inc. (NASDAQ:DCGO) Q4 2023 Earnings Conference Call February 28, 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 Ryan MacDonald - Needham & Company David Larsen - BTIG Michael Latimore - Northland Capital Markets Sarah James - Cantor Fitzgerald Richard Close - Canaccord David Grossman - Stifel Pito Chickering - Deutsche Bank Operator Good day, ladies and ...

DocGo Inc. (DCGO) came out with quarterly earnings of $0.06 per share, missing the Zacks Consensus Estimate of $0.13 per share. This compares to earnings of $0.11 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -53.85%. A quarter ago, it was expected that this company would post earnings of $0.07 per share when it actually produced earnings of $0.05, delivering a surprise of -28.57%.Over the last four quarters, the company has ...

Part I [Business Overview](index=7&type=section&id=Item%201.%20Business) DocGo operates as a mobile healthcare services company, providing medical transportation and mobile health services in 30 U.S. states and the United Kingdom, with Mobile Health Services accounting for **71%** of 2023 revenue FY 2023 Revenue by Segment | Segment | Revenue Contribution | | :--- | :--- | | Mobile Health Services | 71% | | Transportation Services | 29% | - Government contracts are a substantial part of DocGo's business, representing approximately **73%** of total revenues for the fiscal year ended December 31, 2023[40](index=40&type=chunk) Employee Breakdown as of December 31, 2023 | Employee Category | Full-time | Part-time | Total | | :--- | :--- | :--- | :--- | | Healthcare Professionals | 2,176 | 1,234 | 3,410 | | Field Management Personnel | 469 | 6 | 475 | | Corporate Support Staff | 270 | 9 | 279 | | **Total** | **2,915** | **1,249** | **4,164** | - The company faces competition from a range of providers, including larger national telehealth companies like DispatchHealth and Modivcare, as well as potential disruption from large technology companies such as Amazon and major retailers like CVS[64](index=64&type=chunk)[65](index=65&type=chunk) - DocGo's operations are subject to comprehensive U.S. federal, state, and local regulations, including the False Claims Act, HIPAA, the Anti-Kickback Statute, and the Stark Law, which govern healthcare services, billing, and patient data privacy[70](index=70&type=chunk)[71](index=71&type=chunk)[78](index=78&type=chunk)[86](index=86&type=chunk) [Risk Factors](index=18&type=section&id=Item%201A.%20Risk%20Factors) DocGo faces multiple risks, primarily related to its heavy reliance on government contracts and a small number of large customers, intense competition, and the complex regulatory environment - The company's reliance on government contracts is a significant risk, as these contracts accounted for approximately **73%** of revenues in 2023 and are subject to funding changes, audits, and potential termination[114](index=114&type=chunk) - DocGo has significant customer concentration risk, with two customers accounting for approximately **40%** and **21%** of total revenues for the year ended December 31, 2023[119](index=119&type=chunk) - Labor expenses are the company's largest cost, representing approximately **73%** of 2023 revenues, and inability to control these costs could adversely affect business[158](index=158&type=chunk) - The company is highly dependent on information technology systems and faces risks from security breaches and cybersecurity incidents that could compromise sensitive patient health information (PHI), leading to liability and reputational harm[151](index=151&type=chunk) - Operating in the heavily regulated healthcare industry exposes DocGo to risks of non-compliance with laws like the False Claims Act, Anti-Kickback Statute, and HIPAA, which could result in significant penalties and changes to operations[201](index=201&type=chunk)[202](index=202&type=chunk) [Unresolved Staff Comments](index=52&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) The company reports that there are no unresolved staff comments - None[273](index=273&type=chunk) [Cybersecurity](index=52&type=section&id=Item%201C.%20Cybersecurity) DocGo has implemented a cybersecurity risk management program overseen by its Chief Technology Officer and the Board's Audit and Compliance Committee, with no material impact to date - The company's cybersecurity risk management is led by the Chief Technology Officer (CTO) and overseen by the Board's Audit and Compliance Committee[280](index=280&type=chunk)[281](index=281&type=chunk) - DocGo has adopted a Cybersecurity Incident Response Plan that follows the National Institute of Standards and Technology (NIST) framework, focusing on preparation, detection, containment, and remediation[276](index=276&type=chunk)[277](index=277&type=chunk) - As of the report date, risks from cybersecurity threats have not materially affected the company's business strategy, results of operations, or financial condition[279](index=279&type=chunk) [Properties](index=53&type=section&id=Item%202.%20Properties) DocGo's principal executive offices are in New York City, with 45 U.S. and 14 U.K. office locations, and a fleet of 580 vehicles in the U.S. and 294 in the U.K Vehicle Fleet as of December 31, 2023 | Region | Total Vehicles | Key Vehicle Types | Ownership Status | | :--- | :--- | :--- | :--- | | United States | 580 | 350 ambulances, 54 wheelchair vans | 56% owned, 44% leased | | United Kingdom | 294 | 22 first response ambulances, 200 patient transport vehicles | 75% owned, 25% leased | - The company's U.S. ambulance fleet has an average age of approximately **four years**, and vehicles are generally replaced every five to eight years[283](index=283&type=chunk) [Legal Proceedings](index=54&type=section&id=Item%203.%20Legal%20Proceedings) DocGo is subject to legal proceedings, including a settled $1 million class-action lawsuit for wage and hour violations and an ongoing putative class-action complaint for alleged federal securities law violations - A class-action lawsuit in California alleging wage and hour violations was settled for **$1 million**, with final court approval granted on May 2, 2023[647](index=647&type=chunk) - In October 2023, a putative class-action complaint was filed against the company and certain officers alleging violations of federal securities laws, which the company disputes and intends to defend vigorously[648](index=648&type=chunk) [Mine Safety Disclosures](index=54&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[289](index=289&type=chunk) Part II [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=55&type=section&id=Item%205.%20Market%20for%20Registrant's%20Common%20Equity,%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) DocGo's common stock trades on Nasdaq under "DCGO", the company has not paid cash dividends, and the Board approved a new **$36 million** share repurchase program in January 2024 - The company's common stock is traded on the Nasdaq Stock Market under the symbol "**DCGO**"[292](index=292&type=chunk) - DocGo has not declared or paid any cash dividends and does not currently intend to pay them in the foreseeable future, planning to retain earnings for operations and expansion[293](index=293&type=chunk) - On January 30, 2024, the Board approved a share repurchase program authorizing the purchase of up to **$36 million** of Common Stock, expiring on July 30, 2024[298](index=298&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=56&type=section&id=Item%207.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) In fiscal year 2023, DocGo's total revenues increased by **41.7%** to **$624.3 million**, but net income declined to **$10.0 million** due to a **50.1%** increase in cost of revenues and negative operating cash flow of **$64.2 million** Comparison of Fiscal 2023 with Fiscal 2022 | Metric ($ in Millions) | 2023 | 2022 | Change (%) | | :--- | :--- | :--- | :--- | | Revenues, net | $624.3 | $440.5 | 41.7% | | Cost of revenues | $428.9 | $285.8 | 50.1% | | Income from operations | $15.1 | $21.8 | (30.7%) | | Net income | $10.0 | $30.7 | (67.4%) | Revenue by Segment (FY 2023 vs FY 2022) | Segment ($ in Millions) | 2023 | 2022 | Change (%) | | :--- | :--- | :--- | :--- | | Mobile Health Services | $442.8 | $325.9 | 35.9% | | Transportation Services | $181.5 | $114.6 | 58.3% | - Cost of revenues as a percentage of revenue increased to **68.7%** in 2023 from **64.9%** in 2022, primarily due to higher compensation, a significant increase in subcontracted labor costs, and higher medical supply costs[333](index=333&type=chunk)[334](index=334&type=chunk) Cash Flow Summary (FY 2023 vs FY 2022) | Cash Flow ($ in Millions) | 2023 | 2022 | | :--- | :--- | :--- | | Net cash (used in) provided by operating activities | $(64.2) | $28.9 | | Net cash used in investing activities | $(29.9) | $(38.4) | | Net cash provided by (used in) financing activities | $1.1 | $(6.2) | - The company drew down **$25 million** under its Revolving Facility on October 19, 2023, which was repaid in February 2024, with the facility providing up to **$90 million** in credit[378](index=378&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=77&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) DocGo is exposed to market risks, primarily interest rate risk from variable-rate borrowings and significant customer concentration risk, with limited foreign currency exchange risk - The company is subject to interest rate risk from its variable-rate Revolving Facility, with **$25 million** outstanding as of December 31, 2023, subsequently repaid in February 2024[411](index=411&type=chunk) - Foreign exchange risk is limited, arising from U.K. operations, where a hypothetical **10%** change in the exchange rate would have impacted 2023 total revenues by approximately **0.7%**[412](index=412&type=chunk) - Significant customer concentration risk exists, with one customer accounting for **40%** of revenues and **42%** of net accounts receivable, and another for **21%** of revenues and **40%** of net accounts receivable in 2023[415](index=415&type=chunk) [Financial Statements and Supplementary Data](index=77&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) This section presents DocGo's consolidated financial statements for 2021-2023, including an unqualified audit opinion from Urish Popeck & Co., LLC, and notes on critical audit matters - The independent registered public accounting firm, Urish Popeck & Co., LLC, issued an unqualified opinion on the consolidated financial statements and the company's internal control over financial reporting as of December 31, 2023[419](index=419&type=chunk)[420](index=420&type=chunk)[433](index=433&type=chunk) - The auditor identified two critical audit matters: the loss allowance for accounts receivable due to significant management judgment, and revenue recognition for transport services due to judgment in determining historical collection lookback periods[425](index=425&type=chunk)[427](index=427&type=chunk) Consolidated Balance Sheet Summary (as of Dec 31) | Metric ($ in Millions) | 2023 | 2022 | | :--- | :--- | :--- | | Total Assets | $490.5 | $393.3 | | Total Liabilities | $185.3 | $114.4 | | Total Stockholders' Equity | $305.2 | $278.9 | Consolidated Statement of Operations Summary (Year Ended Dec 31) | Metric ($ in Millions, except EPS) | 2023 | 2022 | 2021 | | :--- | :--- | :--- | :--- | | Revenues, net | $624.3 | $440.5 | $318.7 | | Net income | $10.0 | $30.7 | $19.2 | | Diluted EPS | $0.06 | $0.34 | $0.25 | [Changes in and Disagreements with Accountants on Accounting and Financial Disclosure](index=128&type=section&id=Item%209.%20Changes%20in%20and%20Disagreements%20with%20Accountants%20on%20Accounting%20and%20Financial%20Disclosure) The company reports no changes in or disagreements with its accountants on accounting and financial disclosure - None[657](index=657&type=chunk) [Controls and Procedures](index=128&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures and internal control over financial reporting were effective as of December 31, 2023, with no material changes in the fourth quarter - Management concluded that the company's disclosure controls and procedures were effective as of December 31, 2023[659](index=659&type=chunk) - Based on an assessment using the COSO framework, management concluded that the company's internal control over financial reporting was effective as of December 31, 2023[661](index=661&type=chunk) - No material changes to the company's internal control over financial reporting occurred during the fourth quarter of 2023[664](index=664&type=chunk) [Other Information](index=129&type=section&id=Item%209B.%20Other%20Information) In the fourth quarter of 2023, CEO Lee Bienstock terminated a Rule 10b5-1 trading arrangement that was originally adopted on May 17, 2023 - CEO Lee Bienstock terminated a Rule 10b5-1 trading plan on November 10, 2023, which was intended to sell **20,000** shares and had been adopted on May 17, 2023[666](index=666&type=chunk) [Disclosure Regarding Foreign Jurisdictions that Prevent Inspections](index=129&type=section&id=Item%209C.%20Disclosure%20Regarding%20Foreign%20Jurisdictions%20that%20Prevent%20Inspections) This item is not applicable to the company - Not applicable[667](index=667&type=chunk) Part III [Directors, Executive Officers and Corporate Governance](index=130&type=section&id=Item%2010.%20Directors,%20Executive%20Officers%20and%20Corporate%20Governance) Information regarding directors, executive officers, and corporate governance is incorporated by reference from the company's 2024 proxy statement, and the company has adopted a Code of Business Conduct and Ethics - The required information for this item is incorporated by reference from the company's 2024 Proxy Statement[670](index=670&type=chunk) - The company has adopted a Code of Business Conduct and Ethics, which is available on its website[671](index=671&type=chunk) [Executive Compensation](index=130&type=section&id=Item%2011.%20Executive%20Compensation) Information regarding executive compensation is incorporated by reference from the company's definitive proxy statement for its 2024 Annual Meeting of Stockholders - The required information for this item will be included in the company's 2024 Proxy Statement and is incorporated by reference[672](index=672&type=chunk) [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=130&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters) Information regarding security ownership of certain beneficial owners, management, and related stockholder matters is incorporated by reference from the company's definitive proxy statement for its 2024 Annual Meeting of Stockholders - The required information for this item will be included in the company's 2024 Proxy Statement and is incorporated by reference[673](index=673&type=chunk) [Certain Relationships and Related Transactions and Director Independence](index=130&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions%20and%20Director%20Independence) Information regarding certain relationships, related transactions, and director independence is incorporated by reference from the company's definitive proxy statement for its 2024 Annual Meeting of Stockholders - The required information for this item will be included in the company's 2024 Proxy Statement and is incorporated by reference[674](index=674&type=chunk) [Principal Accountant Fees and Services](index=130&type=section&id=Item%2014.%20Principal%20Accountant%20Fees%20and%20Services) Information regarding principal accountant fees and services is incorporated by reference from the company's definitive proxy statement for its 2024 Annual Meeting of Stockholders - The required information for this item will be included in the company's 2024 Proxy Statement and is incorporated by reference[675](index=675&type=chunk) Part IV [Exhibits and Financial Statement Schedules](index=131&type=section&id=Item%2015.%20Exhibits%20and%20Financial%20Statement%20Schedules) This section lists the documents filed as part of the Annual Report, including the Consolidated Financial Statements and an index of all exhibits, with all financial statement schedules omitted as not applicable - This item lists the Consolidated Financial Statements and all exhibits filed as part of the Annual Report[678](index=678&type=chunk)[681](index=681&type=chunk) - All financial statement schedules have been omitted because they are not applicable or the necessary information is already provided in the Consolidated Financial Statements or their notes[679](index=679&type=chunk) [Form 10-K Summary](index=133&type=section&id=Item%2016.%20Form%2010-K%20Summary) The company indicates that there is no Form 10-K summary - None[684](index=684&type=chunk)

NEW YORK--(BUSINESS WIRE)--DocGo Inc. (Nasdaq: DCGO), a leading provider of technology-enabled mobile health services, today announced the addition of two senior leaders bringing significant experience in large-scale public health program management and value-based care partnerships with health plans. Yong Kim has joined as Vice President of Health Plan Partnerships from his most recent role leading business operations and strategy for CVS Health’s population health and care management programs. Jen McLe ...

NEW YORK, Feb. 14, 2024 (GLOBE NEWSWIRE) -- Kuehn Law, PLLC, a shareholder litigation law firm, is investigating whether certain officers and directors of DocGo, Inc. (NASDAQ:DCGO) breached their fiduciary duties to shareholders. According to a federal securities lawsuit, DocGo insiders caused the company to misrepresent or fail to disclose that (i) the processes DocGo used to hire executives were insufficient for thoroughly examining and verifying the professional and educational backgrounds of applicants; ...

NEW YORK--(BUSINESS WIRE)--DocGo Inc. (Nasdaq: DCGO) (“DocGo” or the “Company”), a leading provider of technology-enabled mobile health services, announced today that the Company will release its financial results for the fourth quarter and full year ended December 31, 2023 after the markets close on Wednesday, February 28, 2024. Management will also host a conference call to discuss these results at 5:00 p.m. ET on that day. Conference call and webcast details: Wednesday, February 28, 2024 5:00 p.m. ET 1 ...

NEW YORK--(BUSINESS WIRE)--DocGo Inc. (Nasdaq: DCGO), a leading provider of technology-enabled mobile health services, announced today that management will be participating in the following investor conferences in February and March: BTIG at Snowbird – The 11th Annual BTIG MedTech, Digital Health, Life Science & Diagnostic Tools Conference February 13-14, 2024 – 1x1 investor meetings, contact your BTIG representative for additional information. TD Cowen 44th Annual Health Care Conference March 5-6, 2024 – ...

NEW YORK--(BUSINESS WIRE)--DocGo Inc. (Nasdaq: DCGO) (“DocGo” or the “Company”), a leading provider of technology-enabled mobile health services, announced today that its Board of Directors has approved a new share repurchase program pursuant to which DocGo may purchase up to $36 million of its common stock during a 6-month period ending July 30, 2024. DocGo’s prior share repurchase authorization expired on November 24, 2023. The approved amount represents approximately 10% of DocGo’s outstanding shares bas ...