Company Overview - DocGo Inc. (DCGO) shares increased by 7.9% to $5.44 in the last trading session, with a notable trading volume, and have gained 23.5% over the past four weeks [1][2] Recent Developments - The recent price rise is attributed to investor optimism following DocGo's acquisition of PTI Health, which provides mobile lab collection and phlebotomy services, enhancing the company's ability to offer timely blood collection and at-home testing services [2] Financial Expectations - DocGo is projected to report quarterly earnings of $0.04 per share, reflecting a year-over-year decline of 33.3%. Expected revenues are $128.57 million, down 35.5% from the same quarter last year [3] - The consensus EPS estimate for DocGo has remained unchanged over the last 30 days, indicating that stock price movements may not sustain without trends in earnings estimate revisions [4] Industry Context - DocGo operates within the Zacks Medical Services industry, which includes other companies like Establishment Labs Holdings Inc. (ESTA). ESTA's stock closed 5.8% higher at $30.15, but has seen a return of -37.7% over the past month [4] - Establishment Labs' consensus EPS estimate for the upcoming report is -$0.62, representing a year-over-year change of +21.5%, and it currently holds a Zacks Rank of 4 (Sell) [5]

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]

Financial Performance - For the three months ended September 30, 2024, the Company recorded net income of $4.5 million, compared to net income of $4.6 million in the same period of 2023[223]. - For the nine months ended September 30, 2024, the Company recorded net income of $21.0 million, compared to net income of $2.1 million in the same period of 2023[225]. - For the three months ended September 30, 2024, total revenues were $138.7 million, a decrease of $47.9 million, or 25.7%, compared to the same period in 2023[253]. - Mobile Health Services revenues were $90.7 million, a decrease of $48.6 million, or 34.9%, attributed to the wind-down of migrant-related services[254]. - Transportation Services revenues increased by $0.8 million, or 1.7%, to $48.0 million, driven by an 8.5% increase in trip volumes[255]. - For the nine months ended September 30, 2024, total revenues were $495.7 million, an increase of $70.7 million, or 16.6%, compared to the same period in 2023[270]. - Mobile Health Services revenues for the nine months ended September 30, 2024, were $351.3 million, an increase of $59.0 million, or 20.2%, compared to the same period in 2023[271]. - Transportation Services revenues for the nine months ended September 30, 2024, were $144.4 million, an increase of $11.7 million, or 8.8%, compared to the same period in 2023, driven by a 15.1% increase in trip volumes[273]. Cost and Expenses - Total cost of revenues decreased by 32.5% to $88.8 million, while revenues decreased by 25.7%, resulting in cost of revenues as a percentage of revenues decreasing to 64.0%[256]. - For Mobile Health Services, cost of revenues decreased by 44.1% to $55.5 million, with cost of revenues as a percentage of revenues decreasing to 61.2%[258]. - For Transportation Services, cost of revenues increased by 3.4% to $33.3 million, with cost of revenues as a percentage of revenues increasing to 69.4%[259]. - For the nine months ended September 30, 2024, total cost of revenues increased by 8.9% compared to the same period in 2023, while revenues increased by approximately 16.6%[274]. - Cost of revenues for the Mobile Health Services segment for the nine months ended September 30, 2024, amounted to $223.2 million, up 9.3% from $204.1 million in the same period of 2023[276]. - Cost of revenues for the Transportation Services segment for the nine months ended September 30, 2024, amounted to $99.4 million, up 7.8% from $92.2 million in the same period of 2023[277]. - For the nine months ended September 30, 2024, operating expenses increased by 9.3% to $136.9 million from $125.3 million in the same period of 2023, while as a percentage of revenue, they decreased from 29.5% to 27.6%[278]. - In the Mobile Health Services segment, operating expenses rose to $47.9 million, up from $36.1 million, with operating expenses as a percentage of revenues increasing to 13.6% from 12.3%[280]. - The Transportation Services segment reported operating expenses of $46.1 million, an increase from $39.6 million, with operating expenses as a percentage of revenues rising to 31.9% from 29.9%[281]. - The Corporate segment's operating expenses decreased to $42.9 million from $49.6 million, representing 8.7% of total consolidated revenues compared to 11.7% in the prior year[282]. Cash Flow and Working Capital - The company recorded a net cash provided by operating activities of $57.4 million for the nine months ended September 30, 2024, a significant increase of $115.7 million compared to a cash used of $58.3 million in the same period of 2023[294]. - As of September 30, 2024, working capital increased to $178.1 million, up by $9.3 million from $168.8 million at the end of 2023, with available cash totaling $89.5 million[293]. - Cash flows from operating activities were positively impacted by a $19.8 million decline in accounts receivable, reflecting collections from large municipal customers[295]. - Investing activities used $5.3 million of cash during the nine months ended September 30, 2024, compared to $26.9 million in the same period of 2023, indicating a significant reduction in cash outflow[298][299]. - Financing activities used $16.3 million of cash in the nine months ended September 30, 2024, primarily due to $11.1 million spent on share repurchase and $3.1 million in finance lease payments, compared to $11.9 million in the same period of 2023[300]. Acquisitions and Business Development - The Company completed three acquisitions for an aggregate purchase price of $34.2 million during the nine months ended September 30, 2023[237]. - The Company did not complete any acquisitions during the nine months ended September 30, 2024[237]. - The Company intends to develop and introduce innovative new software services and mobile applications to enhance customer experience[238]. Market Trends - The Mobile Health Services market is expanding due to increased patient acceptance of services provided outside traditional healthcare facilities[227]. - The Transportation Services market is driven by an increase in chronic conditions and the aging population, leading to higher demand for medical transportation[228]. Tax and Interest Rates - The company recorded an income tax provision of $13.3 million for the nine months ended September 30, 2024, compared to $2.0 million in the same period of 2023, due to significantly higher pretax income[286]. - The U.S. Federal Reserve implemented an interest rate cut of 0.50%, lowering the benchmark rate to 4.75%-5.00%[232]. - The Company is exposed to interest rate risk related to cash equivalents and borrowings under its Revolving Facility, which bear interest at a variable rate[323]. - A hypothetical 10% change in interest rates during the nine months ended September 30, 2024, would have had a neutral net impact on the financial statements[324]. - The Company has not utilized interest rate hedging strategies to mitigate interest rate risk[324]. Foreign Exchange and Customer Concentration - The foreign exchange gain for the three months ended September 30, 2024, was $934,774, compared to a loss of $(582,471) for the same period in 2023[325]. - For the nine months ended September 30, 2024, one customer accounted for approximately 36% of revenues and 34% of net accounts receivable[327]. - A hypothetical 10% change in foreign exchange rates would have resulted in a change in total revenues of approximately 0.9% for the three months ended September 30, 2024[325]. - The foreign exchange gain for the nine months ended September 30, 2024, was $828,613, compared to $66,965 for the same period in 2023[325]. - One customer accounted for approximately 41% of revenues and 34% of net accounts receivable for the three months ended September 30, 2024[327]. Variable Interest Entities (VIEs) - Total assets of the Company's Variable Interest Entities (VIEs) amounted to $11.84 billion as of September 30, 2024, up from $4.36 billion as of December 31, 2023[309]. - Total liabilities of the Company's VIEs were $12.72 billion as of September 30, 2024, compared to $4.81 billion as of December 31, 2023[309]. - The Company's VIEs reported a net loss of $(425,668) for the nine months ended September 30, 2024, compared to a net income of $16,839 in the same period of 2023[309].

Revenue Performance - Total revenue for Q3 2024 was $138.7 million, a decrease of 26% from $186.6 million in Q3 2023, primarily due to the planned wind down of migrant-related programs[2] - Mobile Health Services revenue decreased by 35% to $90.7 million in Q3 2024, while Transportation Services revenue increased by 2% to $48 million[2] - Total revenues for September 2024 were $138.68 million, a decrease of 25.7% compared to $186.55 million in September 2023[14] - Year-to-date revenue for 2024 reached $495.1 million, an increase of 7.5% compared to $238.5 million in the same period of 2023[27] - Total revenue for the nine months ended September 30, 2024, was $495.7 million, compared to $425.0 million for the same period in 2023[25] Profitability Metrics - GAAP gross margin for Q3 2024 was 33.0%, up from 27.2% in Q3 2023, while adjusted gross margin increased to 36.0% from 29.5%[2] - Net income for Q3 2024 was $4.5 million, a slight decrease of 2% compared to $4.6 million in Q3 2023, but increased significantly to $21.0 million for the first nine months of 2024 from $2.1 million in the same period of 2023[2] - Adjusted EBITDA for Q3 2024 was $17.9 million, a 7% increase from $16.7 million in Q3 2023, with a substantial increase of 88% for the first nine months of 2024 compared to the same period in 2023[2] - The company reported a net margin of 3.2% in Q3 2024, up from 2.5% in Q3 2023[27] - Adjusted EBITDA margin for the year-to-date period was 12.0%, compared to 13.2% in the same period of 2023[27] Cash Flow and Assets - The company generated over $31 million in cash flow from operations during the period, reflecting a significant increase in cash balance[5] - Cash flows from operating activities for the nine months ended September 30, 2024, were $57,449,955, a notable recovery from a cash outflow of $45,878,329 in the same period of 2023[15] - Cash and cash equivalents increased to $89.46 million in 2024 from $59.29 million in 2023, a growth of 50.9%[13] - Cash and restricted cash at the end of the period was $108,578,498, up from $67,255,938 at the end of the same period in 2023[16] - The company experienced a net increase in cash and restricted cash of $36,360,512 for the nine months ended September 30, 2024, compared to a decrease of $96,853,136 in the same period of 2023[16] Operational Developments - The company has significantly expanded its operations on the West Coast to support care gap closure programs, enhancing healthcare access for Medicaid recipients[4] - The average weekly number of care gap visits has doubled compared to the previous quarter, indicating strong demand for care gap closure programs[5] - A new contract was signed to facilitate in-home medical services for members of Firefly Health, indicating ongoing expansion of service offerings[4] Balance Sheet Highlights - Total current assets decreased to $328.33 million in 2024 from $338.87 million in 2023, a decline of 3.6%[13] - Total liabilities decreased to $168.98 million in 2024 from $185.28 million in 2023, a reduction of 8.8%[13] - The total stockholders' equity attributable to DocGo Inc. increased to $325.21 million in 2024 from $300.79 million in 2023, a rise of 8.1%[13] - The company’s accounts payable increased to $35.14 million in 2024 from $19.83 million in 2023, an increase of 77.0%[13] Other Financial Metrics - The company reported a net income before income tax provision of $9.03 million for September 2024, slightly down from $9.16 million in September 2023[14] - The weighted-average shares outstanding for basic net income per share were 102.07 million in September 2024, down from 103.87 million in September 2023[14] - Stock-based compensation for the three months ended September 30, 2023, was $3,360,709, compared to $15,161,847 for the same period in 2022[15] - The company incurred cash paid for interest of $594,734 for the three months ended September 30, 2023, compared to $179,430 for the same period in 2022[17] - The acquisition of businesses and intangibles totaled $2,940,843 and $2,228,233 respectively for the nine months ended September 30, 2024[15]

分组1 - DocGo Inc. reported quarterly earnings of $0.06 per share, missing the Zacks Consensus Estimate of $0.07 per share, compared to a loss of $0.02 per share a year ago, representing an earnings surprise of -14.29% [1] - Over the last four quarters, Motion Acquisition has not surpassed consensus EPS estimates, with revenues of $164.95 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 0.99%, compared to year-ago revenues of $125.49 million [2] - Motion Acquisition shares have lost about 45.1% since the beginning of the year, while the S&P 500 has gained 9.9% [3] 分组2 - The earnings outlook for Motion Acquisition is mixed, with the current consensus EPS estimate at $0.04 on $138.36 million in revenues for the coming quarter and $0.24 on $621.65 million in revenues for the current fiscal year [7] - The Zacks Industry Rank indicates that the Medical Services sector is currently in the bottom 41% of over 250 Zacks industries, suggesting that the performance of stocks in this sector may be adversely affected [8] - Viatris, another company in the same industry, is expected to report quarterly earnings of $0.68 per share, reflecting a year-over-year change of -9.3%, with revenues expected to be $3.82 billion, down 2.6% from the year-ago quarter [9][10]

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 ...

Financial Data and Key Metrics Changes - Total revenue for Q2 2024 was $164.9 million, a 31% increase from Q2 2023 [16] - Adjusted EBITDA for Q2 2024 was $17.2 million, up from $9.1 million in Q2 2023, with an adjusted EBITDA margin of 10.4% [17] - Net income for Q2 2024 was $5.9 million compared to $1.3 million in Q2 2023 [17] - GAAP gross margin percentage was 31.3%, up from 30.3% in Q2 2023, while adjusted gross margin was 33.9% compared to 33.4% in Q2 2023 [19] Business Line Data and Key Metrics Changes - Mobile Health revenue for Q2 2024 was $116.7 million, a 46% increase from Q2 2023, accounting for 71% of total revenues [16][17] - Transportation services revenue increased to $48.2 million in Q2 2024, which was 6% higher than Q2 2023 [16] - Adjusted gross margin from the Mobile Health segment was 35.9%, compared to 34.9% in Q2 2023 [20] Market Data and Key Metrics Changes - The largest revenue gains occurred in New York, Pennsylvania, and the U.K. [16] - The company is seeing strong results from care gap closure services, with a doubling of patients assigned for these services in Q2 compared to Q1 [9][10] Company Strategy and Development Direction - The company is focusing on expanding its mobile health services and has launched initiatives to engage with prospective partners across three customer verticals [6][8] - A world-class Medical Advisory Board has been established to enhance clinical offerings and publish research on patient outcomes [8] - The company is transitioning from migrant-related projects to pursue new opportunities, which is expected to enhance growth [14] Management's Comments on Operating Environment and Future Outlook - Management expects continued strong cash flow from operations, increasing guidance from $70 million to $80 million to a new range of $80 million to $90 million for 2024 [8][26] - The company anticipates a decline in migrant-related revenues but expects to benefit from improved cash collections and operational efficiencies [25][26] - Management is optimistic about the growth potential in the mobile health sector, particularly in care gap closures and primary care offerings [32][41] Other Important Information - The company repurchased approximately $5 million worth of shares during the period and nearly $10 million since the start of 2024 [7][25] - Cash flow from operations exceeded $35 million in Q2 2024, driving up cash balance by more than $25 million relative to Q1 [7][22] Q&A Session Summary Question: What is driving the recent contract wins? - Management indicated that both market adoption for in-home care and the ROI of their programs are contributing factors [27][28] Question: Did the core business grow 30% year-over-year? - The core business was relatively flat quarter-over-quarter, but management anticipates growth in the second half of the year [29][30] Question: What are the revenue expectations for fiscal 2025? - The base business is expected to be $400 million, with additional revenues potentially from migrant-related services [34][35] Question: How does the company fit into the current healthcare environment? - Management believes their proactive care model aligns well with rising healthcare costs and aims to reduce hospital readmissions [39][40] Question: What is the outlook for cash flow conversion? - Management expects a typical conversion of about $30 million in cash flow from the projected $40 million EBITDA [46][49]

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 June 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) | --- | --- | |----------------------- ...

Financial Performance - Total revenue for Q2 2024 was $164.9 million, a 31% increase from $125.5 million in Q2 2023[2] - Net income for Q2 2024 was $5.9 million, up 354% from $1.3 million in Q2 2023[2] - Adjusted EBITDA for Q2 2024 was $17.2 million, an 89% increase from $9.1 million in Q2 2023[2] - Mobile Health Services revenue for Q2 2024 was $116.7 million, a 46% increase from $80.1 million in Q2 2023[2] - Total revenues for Q2 2024 reached $164.95 million, a 31.5% increase from $125.49 million in Q2 2023[15] - Net income attributable to stockholders of DocGo Inc. for Q2 2024 was $6.53 million, compared to a net loss of $2.01 million in Q2 2023[15] - The company reported a gross profit of $55.88 million for Q2 2024, up from $41.87 million in Q2 2023, indicating a gross margin improvement[15] - The company’s net income per share attributable to DocGo Inc. was $0.06 for Q2 2024, compared to a loss of $0.02 per share in Q2 2023[16] - Year-to-date revenue for 2024 reached $357.0 million, a 49.7% increase from $238.5 million in the same period of 2023[31] - Total revenue for the year-to-date period in 2024 was $357.0 million, compared to $238.5 million in 2023, indicating strong growth[31] Cash Flow and Assets - The company raised its cash flow from operations guidance for 2024 to $80-$90 million, up from the previous expectation of $70-$80 million[2] - Cash and cash equivalents increased to $66.06 million as of June 30, 2024, up from $59.29 million as of December 31, 2023[13] - Total current assets decreased to $328.71 million as of June 30, 2024, from $338.87 million as of December 31, 2023[13] - Total liabilities decreased to $170.18 million as of June 30, 2024, from $185.28 million as of December 31, 2023, representing a reduction of approximately 8.2%[13] - The company experienced a net increase in cash of $26,929,531 for the three months ended June 30, 2024, compared to a decrease of $(3,757,956) for the same period in 2023[20] - Net cash provided by operating activities for the six months ended June 30, 2024, was $26,416,562, compared to a net cash used of $(12,424,782) for the same period in 2023[18] - Cash and restricted cash at the end of the period was $85,823,394, down from $123,760,762 at the end of the same period in 2023[20] Operational Highlights - The company secured five new contracts for healthcare services across the U.S.[3] - A new Medical Advisory Board was established to enhance clinical offerings and research[3] - The company launched a new Well Child Visits program aimed at improving pediatric preventive care[4] - A new share repurchase program of up to $26 million was authorized by the Board of Directors[4] Cost and Margin Analysis - Operating expenses for Q2 2024 were $154.80 million, compared to $123.91 million in Q2 2023, reflecting a 24.9% increase[15] - Adjusted gross profit for Q2 2024 was $55.9 million, compared to $41.9 million in Q2 2023, marking a 33.5% increase[30] - GAAP gross margin improved to 31.3% in Q2 2024, up from 30.3% in Q2 2023[30] - Adjusted gross margin for Q2 2024 was 33.9%, slightly up from 33.4% in Q2 2023[30] - The net margin for Q2 2024 improved to 3.6%, up from 1.0% in Q2 2023[31] - The company reported a pretax income margin of 5.8% in Q2 2024, compared to 0.8% in Q2 2023[31] Other Financial Metrics - The accumulated deficit decreased to $(3.64) million as of June 30, 2024, from $(21.39) million as of December 31, 2023[14] - Total stockholders' equity attributable to DocGo Inc. increased to $315.16 million as of June 30, 2024, from $300.79 million as of December 31, 2023[14] - The company reported a net cash used in investing activities of $(3,788,400) for the six months ended June 30, 2024, compared to $(25,417,484) for the same period in 2023[18] - The company paid $464,235 in interest for the three months ended June 30, 2024, compared to $93,943 for the same period in 2023[21] - Adjusted EBITDA is a key non-GAAP measure that excludes certain amounts included in net income, providing a clearer view of the company's operating performance[27] - The company reported an adjusted gross margin, which is useful for evaluating operating performance by excluding non-cash depreciation and amortization charges[25] - The acquisition of remaining FMC NA involved a due to seller and issuance of stock valued at $7,000,000[22] - The company made earnout payments on contingent liabilities totaling $(1,600,029) during the three months ended June 30, 2024[19]