DocGo Q1 revenue up 70% to $192.1M; guides FY revenue down to $600-650M on migrant wind-down

DocGo Inc.

2024-Q1 EPS reported $0.10 revenue$192,087,529

Net income of $10.6M vs loss of $3.9M YoY; record adjusted EBITDA $24.1M, up 330%.
Mobile Health revenue $143.9M (+97%); Transportation $48.2M (+20%); gross margin 35.0% vs 28.1%.
FY 2024 revenue guidance cut to $600-650M (from $720-750M); adjusted EBITDA guidance $65-75M (from $80-85M).
Base business (non-migrant) expected $280-300M in 2024, targeting >30% growth and >10% EBITDA margin in 2025.
Repurchased 2.7M shares at avg $3.69 since Jan 30, 2024; $26M remaining in buyback plan.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

DocGo Inc. reported the quarter ended March 31, 2024 results: revenue $192.1 million, net income $10.6 million. Guidance lowered.

Period: the quarter ended March 31, 2024
Revenue: $192.1 million
Net income: $10.6 million
Guidance: lowered
Result: reported results

Exact text from the filing

today announced financial and operating results for the quarter ended March 31, 2024. First Quarter 2024 Financial Highlights • Total revenue for the first quarter of 2024 was $192.1 million, compared to $113.0 million in the first quarter of 2023, an increase of 70%. • Gross margin for the first quarter of 2024 was 35.0%, compared to the gross margin in the first

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Source: SEC EDGAR

accession 0001822359-24-000043

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