UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 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) (State or Other Jurisdiction of (I.R.S. Employer Incor ...

Start Time: 17:00 January 1, 0000 5:41 PM ET DocGo Inc. (NASDAQ:DCGO) Q4 2022 Earnings Conference Call March 13, 2023, 17:00 PM ET Company Participants Anthony Capone - CEO Norman Rosenberg - CFO Lee Bienstock - President and COO Mike Cole - Vice President, IR Conference Call Participants Richard Close - Canaccord Genuity Ryan MacDonald - Needham & Company David Grossman - Stifel Kieran Ryan - Deutsche Bank Operator Greetings, and welcome to the DocGo Fourth Quarter and Full Year 2022 Earnings Conference Ca ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 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) | Delaware | 85-2515483 | | --- | --- | | (State or other jur ...

DocGo Inc. (NASDAQ:DCGO) Q3 2022 Earnings Conference Call November 7, 2022 5:00 PM ET Company Participants Mike Cole - Vice President, IR Stan Vashovsky - CEO, Co-Founder Andre Oberholzer - CFO Anthony Capone - President Conference Call Participants Matt Shae - Needham Sarah James - Barclays Richard Close - Canaccord Genuity Kieran Ryan - Deutsche Bank Mike Latimore - Northland Securities David Grossman - Stifel Operator Thank you for standing by. This is the conference operator. Welcome to the DocGo Third ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 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) 10001 (ZipCode) (844) 443-6246 (Registrant's Teleph ...

DocGo Inc. (NASDAQ:DCGO) Q2 2022 Results Conference Call August 9, 2022 8:30 AM ET Company Participants Steve Halper - LifeSci Advisors Stan Vashovsky - CEO, Co-Founder Andre Oberholzer - CFO Anthony Capone - President Conference Call Participants Richard Close - Canaccord Genuity Mike Latimore - Northland Securities Sarah James - Barclays Ryan MacDonald - Needham Craig Jones - Stifel Steve Halper - LifeSci Advisors Operator Greetings, and welcome to the DocGo Second Quarter 2022 Earnings Conference Call. ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 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 Data and Key Metrics Changes - Total revenue for Q1 2022 was $118 million, a growth of 137% compared to Q1 2021 [6][25] - Adjusted EBITDA for Q1 2022 was $13.9 million, significantly improved from $0.4 million in Q1 2021, with an adjusted EBITDA margin of 11.8% [8][25] - Net income for Q1 2022 was $9.4 million, a substantial improvement from a net loss of $2 million in Q1 2021 [9][25] - Cash and cash equivalents as of March 31, 2022, totaled $188.4 million, up from $135.5 million at the end of 2021 [28] Business Line Data and Key Metrics Changes - Mobile Health division generated revenue of $90.1 million in Q1 2022, a 193% increase from $30.7 million in Q1 2021 [7][25] - Transportation revenue was $27.8 million, a 46% increase from $19 million in Q1 2021 [8][25] - Excluding COVID testing revenue, total Q1 revenues increased approximately 2.7 times year-over-year, from about $29 million in Q1 2021 to approximately $80 million in Q1 2022 [25] Market Data and Key Metrics Changes - The UK market revenue grew by 40% to $2.8 million during Q1 2022, representing about 2% of total revenue [25] - The company provided services in 29 states and the UK, with significant growth opportunities in both existing and new markets [10][20] Company Strategy and Development Direction - The company aims to transition from COVID-related services to longer-term non-COVID work, focusing on building lasting customer relationships [9][19] - Plans to expand direct-to-consumer offerings and enhance technology integration with existing healthcare systems [15][64] - The company is pursuing international expansion, particularly in the UK, while also targeting the untapped U.S. market [20][23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong demand for mobile health and transportation services, maintaining revenue guidance of $400 million to $420 million for 2022 [31][54] - The transition from COVID testing to new mobile health contracts is expected to be seamless, with a focus on timing and resource allocation [41][60] - Management highlighted the significant market opportunity for home-based care, projecting a shift of up to $265 billion in medical care to home settings by 2025 [23] Other Important Information - The company unveiled the first zero-emission all-electric ambulance in the U.S. and aims to convert to an all-electric fleet by 2032 [21] - The company has expanded its workforce, with over 4,000 full-time personnel, primarily clinical providers, and anticipates reaching around 5,000 by year-end [44] Q&A Session Summary Question: What is the COVID testing revenue for 2021? - The estimated COVID testing revenue for 2021 was $110 million, with an anticipated $55 million for 2022 in the first half [36][37] Question: How is the transition from COVID contracts to long-term work progressing? - The transition is primarily about timing, ensuring personnel are ready for new contracts as COVID work winds down [41][42] Question: What is the final provider headcount at the quarter end? - The final provider headcount was over 4,000, with expectations to reach around 5,000 by the end of the year [44] Question: How does the revenue transition from COVID testing to new services look? - The revenue model remains consistent, with minimal variation as practitioners transition from COVID testing to other clinical services [45][46] Question: What are the gross margin targets for mobile health and transportation? - Long-term gross margin targets are 50% to 53% for mobile health and 40% to 42% for transportation [69]

[PART I - FINANCIAL INFORMATION](index=4&type=section&id=PART%20I%20-%20FINANCIAL%20INFORMATION) [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements for the three months ended March 31, 2022, and 2021, including balance sheets, statements of operations, changes in stockholders' equity, and cash flows, along with detailed notes [Condensed Consolidated Financial Statements](index=5&type=section&id=Condensed%20Consolidated%20Financial%20Statements) For Q1 2022, DocGo reported significant year-over-year revenue growth, primarily driven by its Mobile Health segment, achieving a net income of **$9.4 million** from a prior-year net loss, with increased total assets and cash reserves Condensed Consolidated Statement of Operations (Q1 2022 vs Q1 2021) | Metric | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | | :--- | :--- | :--- | | **Revenue, net** | $117,891,552 | $49,688,856 | | **Income (loss) from operations** | $10,094,565 | ($1,873,958) | | **Net income (loss)** | $9,372,437 | ($1,998,996) | | **Net income (loss) attributable to stockholders** | $10,629,694 | ($1,678,364) | | **Net income (loss) per share - Basic** | $0.11 | ($0.03) | | **Net income (loss) per share - Diluted** | $0.09 | ($0.03) | Condensed Consolidated Balance Sheet Highlights | Metric | March 31, 2022 | December 31, 2021 | | :--- | :--- | :--- | | **Cash and cash equivalents** | $188,353,909 | $175,537,221 | | **Total current assets** | $268,170,785 | $256,032,491 | | **Total assets** | $325,196,304 | $309,602,652 | | **Total current liabilities** | $60,992,489 | $57,875,921 | | **Total liabilities** | $84,931,995 | $82,545,628 | | **Total stockholders' equity** | $240,264,309 | $227,057,024 | Condensed Consolidated Statement of Cash Flows (Q1 2022 vs Q1 2021) | Metric | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | | :--- | :--- | :--- | | **Net cash provided by (used in) operating activities** | $18,264,682 | ($1,384,175) | | **Net cash used in investing activities** | ($1,137,040) | ($1,276,054) | | **Net cash provided by (used in) financing activities** | $2,496,798 | ($550,591) | | **Net increase (decrease) in cash and restricted cash** | $19,618,577 | ($3,202,822) | [Notes to Unaudited Condensed Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) The notes detail the company's business operations, significant accounting policies, and specifics on financial statement line items, including reverse recapitalization accounting, revenue disaggregation, customer concentration, stock-based compensation, and COVID-19 impact - The company operates as a healthcare transportation and mobile health services provider in the US and UK, becoming a public company (DocGo Inc.) on November 5, 2021, after a merger with Motion Acquisition Corp, accounted for as a reverse recapitalization with Ambulnz, Inc. as the accounting acquirer[28](index=28&type=chunk)[31](index=31&type=chunk)[38](index=38&type=chunk) Revenue by Segment and Geography (Q1 2022 vs Q1 2021) | Category | Service Line | Q1 2022 Revenue | Q1 2021 Revenue | | :--- | :--- | :--- | :--- | | **Segment** | Transportation Services | $27,812,510 | $19,124,020 | | | Mobile Health | $90,079,042 | $30,564,836 | | **Geography** | United States | $115,053,431 | $47,681,374 | | | United Kingdom | $2,838,121 | $2,007,482 | | **Total** | | **$117,891,552** | **$49,688,856** | - The company has significant customer concentration, with two customers accounting for **34%** and **19%** of sales, respectively, for the quarter ended March 31, 2022[48](index=48&type=chunk) - The COVID-19 pandemic had a mixed impact, reducing non-emergency medical transport volumes but significantly boosting revenue through the company's Rapid Reliable Testing (RRT) subsidiary, part of the Mobile Health segment[181](index=181&type=chunk)[182](index=182&type=chunk) - As of March 31, 2022, the company had **$22.9 million** in total unrecognized compensation related to unvested stock option awards, expected to be recognized over a weighted-average period of **3.58 years**[149](index=149&type=chunk) - The company recorded a liability of **$1,000,000** for an agreed settlement related to various class-based claims under Federal and California State law, which is subject to court approval[178](index=178&type=chunk) [Management's Discussion and Analysis (MD&A)](index=35&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's Q1 2022 performance, highlighting a **137%** increase in total revenue to **$117.9 million**, driven by a **194%** surge in Mobile Health services, achieving a net income of **$9.4 million** from a prior-year loss [Results of Operations](index=39&type=section&id=Results%20of%20Operations) In Q1 2022, total revenues grew **137%** to **$117.9 million**, with Mobile Health revenue increasing **194%** to **$90.1 million** and Transportation Services revenue growing **46%** to **$27.8 million**, leading to improved gross margin and an operating income of **$10.1 million** Consolidated Results of Operations (in Millions) | Metric | Q1 2022 | Q1 2021 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | **Revenues, net** | $117.9 | $49.7 | $68.2 | 137% | | **Cost of revenue** | $78.0 | $35.9 | $42.1 | 117% | | **Income/(loss) from operations** | $10.1 | ($1.9) | $12.0 | N/A | | **Net income (loss)** | $9.4 | ($2.0) | $11.4 | N/A | - Mobile Health revenue surged by **194%** to **$90.1 million**, primarily due to the expansion of COVID-19 related testing and other healthcare services[224](index=224&type=chunk) - Transportation Services revenue increased by **46%** to **$27.8 million**, driven by a **5%** rise in trip volumes and a significant increase in the average price per trip from **$283** to **$353**[223](index=223&type=chunk) - Cost of revenue as a percentage of revenue decreased to **66.2%** from **72.2%** in Q1 2021, indicating improved gross margin despite increased absolute costs for labor, supplies, and fuel[225](index=225&type=chunk) [Liquidity and Capital Resources](index=42&type=section&id=Liquidity%20and%20Capital%20Resources) The company's liquidity position is strong, with cash of **$188.4 million** and working capital of **$207.2 million** as of March 31, 2022, primarily due to November 2021 merger proceeds and **$18.2 million** in cash generated from operations - The company received net proceeds of approximately **$158.1 million** from its merger in November 2021, significantly bolstering its liquidity[240](index=240&type=chunk) Working Capital (in Millions) | Metric | March 31, 2022 | March 31, 2021 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | **Current Assets** | $268.2 | $62.7 | $205.5 | 328% | | **Current Liabilities** | $61.0 | $31.0 | $30.0 | 97% | | **Total working capital** | $207.2 | $31.7 | $175.5 | 554% | - Net cash provided by operating activities was **$18.2 million** for Q1 2022, a significant improvement from the **$1.4 million** used in Q1 2021, driven by net income and favorable working capital changes[246](index=246&type=chunk) [Critical Accounting Policies](index=45&type=section&id=Critical%20Accounting%20Policies) This section outlines the company's most critical accounting policies, which involve significant judgments and estimates, including the basis of presentation (reverse recapitalization), consolidation of a Variable Interest Entity (VIE), business combinations, goodwill impairment testing, revenue recognition, and income taxes - The merger with Motion Acquisition Corp. was accounted for as a reverse recapitalization, with Ambulnz, Inc. treated as the accounting acquirer[256](index=256&type=chunk) - The company consolidates MD1 Medical Care P.C., a Variable Interest Entity (VIE), because it has the power to direct its activities and absorbs its losses[258](index=258&type=chunk) - Goodwill and indefinite-lived intangible assets are not amortized but are tested for impairment annually on December 31, or more frequently if events indicate potential impairment[264](index=264&type=chunk)[266](index=266&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=47&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company is classified as a smaller reporting company and is therefore not required to provide the disclosures typically found under this item - As a smaller reporting company, DocGo is exempt from the requirement to provide quantitative and qualitative disclosures about market risk[273](index=273&type=chunk) [Controls and Procedures](index=47&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, evaluated the company's disclosure controls and procedures and concluded they were effective as of March 31, 2022, with no material changes to internal control over financial reporting identified during the quarter - Management concluded that the company's disclosure controls and procedures are effective in ensuring timely and accurate reporting[274](index=274&type=chunk) - There were no changes during the quarter ended March 31, 2022, that materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[275](index=275&type=chunk) [PART II - OTHER INFORMATION](index=48&type=section&id=PART%20II%20-%20OTHER%20INFORMATION) [Legal Proceedings & Risk Factors](index=48&type=section&id=Item%201.%20Legal%20Proceedings%20%26%20Item%201A.%20Risk%20Factors) The company is involved in legal proceedings arising in the ordinary course of business, and while most risk factors remain unchanged from the 2021 Form 10-K, a new risk related to inflation has been highlighted due to increasing costs compressing gross margins - The company is subject to legal proceedings and government information requests that arise in the ordinary course of business[277](index=277&type=chunk)[278](index=278&type=chunk) - A new inflation rate risk has been identified, noting that the high inflation rate in Q1 2022 (reaching **8.5%** in March) has increased expenses for wages, fuel, and medical supplies, compressing gross profit margins[280](index=280&type=chunk) [Other Disclosures (Items 2, 3, 4, 5, 6)](index=48&type=section&id=Other%20Disclosures%20%28Items%202%2C%203%2C%204%2C%205%2C%206%29) This section confirms there were no unregistered sales of equity securities, no defaults upon senior securities, and no other material information to report during the period, with a list of exhibits filed with the 10-Q provided - The company reports no unregistered sales of equity securities, defaults on senior securities, mine safety disclosures, or other information for the quarter[280](index=280&type=chunk)[281](index=281&type=chunk)[282](index=282&type=chunk)[283](index=283&type=chunk)

DocGo Inc. (NASDAQ:DCGO) Q4 2021 Earnings Conference Call March 15, 2022 8:30 AM ET Company Participants Steve Halper – Investor Relations-LifeSci Advisors Stan Vashovsky – Chief Executive Officer and Co-Founder Andre Oberholzer – Chief Financial Officer Conference Call Participants Mike Latimore – Northland Capital Steve Braun – Barclays Ryan MacDonald – Needham & Company David Grossman – Stifel Richard Close – Canaccord Genuity Operator Greetings and welcome to the DocGo Fourth Quarter and Full-Year 2021 ...