DOCGO INC Stock Price, News & Analysis

DocGo (Nasdaq: DCGO), a leading provider of technology-enabled mobile health services, has scheduled its fourth quarter and full year 2024 financial results release for Thursday, February 27, 2025, after market close. The company will host a conference call and webcast at 5:00 p.m. ET on the same day to discuss the results.

Investors can access the conference call via U.S. toll-free number (1-800-717-1738) or international number (1-646-307-1865) using Conference ID 41220. A webcast will be available through the Investors section of DocGo's website.

DocGo (NASDAQ: DCGO) has acquired PTI Health, a mid-Atlantic mobile lab collection and phlebotomy services company, to expand its healthcare service offerings. The acquisition enhances DocGo's capabilities by incorporating PTI Health's existing partnerships with major labs and their ordering platform integrations.

The strategic move aims to address critical gaps in diagnostic care for underserved populations by providing mobile phlebotomy lab services and at-home testing. DocGo plans to initially expand PTI Health's operations into New York City. PTI Health's services focus on homebound patients and those facing transportation challenges, with their clinicians performing thousands of lab collections annually.

As part of the acquisition, PTI Health President Wayne Meadows will join DocGo as a General Manager. The company plans to leverage this acquisition to drive growth in 2025 and beyond, while expanding their mobile health offerings and strengthening their vertically integrated care model.

DocGo (Nasdaq: DCGO), a leading provider of technology-enabled mobile health services, has announced that CEO Lee Bienstock will participate in the Needham Annual Growth Conference. The participation includes a fireside chat scheduled for Wednesday, January 15th from 12:45 to 1:25 PM Eastern Time, along with one-on-one meetings during the event. Investors can access the webcast of the fireside chat through DocGo's investor relations website at ir.docgo.com.

DocGo (NASDAQ: DCGO) has expanded its partnership with SHL Telemedicine to integrate SmartHeart® portable 12-lead ECG devices across its mobile health care units nationwide, following initial deployment in the New York-New Jersey area. The collaboration aims to address the critical gap in cardiovascular care access, noting that 46% of U.S. counties lack cardiologists according to the Journal of the American College of Cardiology.

The partnership will enable high-quality ECG screenings in patients' homes and underserved communities, with cardiologist-reviewed results available promptly. The first phase of expansion will target California, focusing on rural communities and healthcare deserts. This initiative aims to improve patient outcomes while reducing emergency room visits and overall healthcare costs.

DocGo (Nasdaq: DCGO) announced that its Ambulnz subsidiary has renewed a two-year transportation contract with a major Tennessee healthcare system, extending their six-year partnership. The agreement covers hospital discharge transportation and interfacility transfers, currently handling approximately 17,000 trips annually with plans to exceed 20,000 trips per year. The company reported a 25% increase in trips over the past year, demonstrating growing demand. Through this partnership, DocGo aims to improve healthcare coordination, reduce inefficiencies, and enhance patient outcomes by ensuring seamless patient transport.

DocGo announced that its Cardiac RMS subsidiary has signed a contract with a major Mississippi hospital system to provide remote monitoring services for nearly 3,000 patients with cardiac implantable electronic devices (CIEDs). The service, scheduled to begin in early 2025, marks Cardiac RMS's entry into Mississippi and expands their pediatric customer base.

The initiative aims to address Mississippi's challenges, including high cardiovascular disease rates, specialized care access in rural areas, and healthcare provider shortages. The remote monitoring service will help reduce in-office visits, enable early interventions, enhance clinical efficiency, streamline operations, and reduce hospital readmissions.

Cardiac RMS will monitor various devices including pacemakers, implantable cardioverter-defibrillators, heart failure devices, and implantable loop recorders.

DocGo (Nasdaq: DCGO) has secured a two-year contract through its subsidiary EMS Direct to provide medical transportation services for a major health and hospital system in Fort Worth, North Texas. The agreement covers Basic Life Support, Advanced Life Support, and Critical Care transportation services. The contract was implemented in under 90 days, demonstrating DocGo's operational efficiency. This expansion strengthens DocGo's presence in Texas and positions the company for further growth in the Dallas area.

DocGo (Nasdaq: DCGO) has announced its participation in three major investor conferences this November. CEO Lee Bienstock will attend the Southwest Ideas Conference on November 20th, delivering a presentation at 5:10 PM ET. On November 21st, he will participate in 1x1 meetings at the Canaccord Genuity Medtech, Diagnostics and Digital Health & Services Forum. At the BTIG Digital Health Forum on November 25th, Bienstock will join a panel discussion on Care Coordination at 9:00 AM ET and conduct 1x1 meetings. Webcasts for the Southwest Ideas Conference and BTIG Forum will be available on DocGo's investor relations website.

DocGo (Nasdaq: DCGO), a provider of mobile health services, announced its Q3 2024 results. Total revenue was $138.7M, a 26% decrease from Q3 2023 due to the wind down of migrant-related programs. However, for the first nine months of 2024, revenue increased by 17% to $495.7M. GAAP gross margin improved to 33%, while adjusted gross margin rose to 36%. Net income for Q3 2024 was $4.5M, a slight decrease from $4.6M in Q3 2023, but for the first nine months, net income surged to $21M from $2.1M. Adjusted EBITDA increased by 7% to $17.9M for Q3 and by 88% to $59.2M for the first nine months. The company updated its 2024 revenue guidance to $620-$630M and expects cash flow from operations to be $90-$100M. For 2025, revenue is forecasted to be $410-$450M. DocGo also expanded its operations on the West Coast and signed several new contracts to enhance healthcare services.