DOCGO INC Stock Price, News & Analysis

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.

DocGo Inc. (Nasdaq: DCGO), a leading provider of technology-enabled mobile health services, has announced it will release its financial results for the third quarter ended September 30, 2024 after the markets close on Thursday, November 7, 2024. The company will also host a conference call and webcast to discuss these results at 5:00 p.m. ET on the same day.

Interested parties can access the conference call by dialing 1-800-717-1738 (U.S.) or 1-646-307-1865 (international). Additionally, a webcast of the conference call will be available under the Events section of the Company's investor relations website at https://ir.docgo.com/.

DocGo Inc. (Nasdaq: DCGO) has announced that its Ambulnz subsidiary has renewed its contract with Bayhealth for an additional three-year term. This extension solidifies Ambulnz's role in providing non-emergency transportation services to central and southern Delaware's largest healthcare system. The company anticipates completing over 20,000 trips during the contract term.

Since January 2022, DocGo has been supporting Bayhealth in managing patient flow through timely transportation services. In July 2024, DocGo expanded its presence in Delaware by launching emergency medical and 911 services in Dover. Over the past two years, the company has invested millions in new ambulances and advanced EMS equipment, while tripling its Delaware workforce.

DocGo Inc. (Nasdaq: DCGO) has appointed Dr. Stephen K. Klasko as the new independent, non-executive Chair of its Board of Directors, effective October 1, 2024. Dr. Klasko, a healthcare visionary with extensive leadership experience, will replace outgoing Chair Steven Katz. Dr. Klasko's background includes roles as President of Thomas Jefferson University, CEO of Jefferson Health, and Dean at USF Health and Drexel University College of Medicine.

Dr. Klasko's appointment aims to support DocGo's growth in mobile health initiatives and value-based care strategies. CEO Lee Bienstock expressed excitement about the strategic insight Dr. Klasko brings to the company. The transition comes as DocGo seeks to accelerate its growth and expand its impact in healthcare delivery transformation.

DocGo (Nasdaq: DCGO) has appointed Eiwe Lingefors as its new Chief Information Officer (CIO). Lingefors, who previously served as the company's Chief Information Security Officer, will continue in this role alongside his new position. In his expanded role, Lingefors will lead both DocGo's information security and digital innovation strategy.

CEO Lee Bienstock expressed confidence in Lingefors' leadership, highlighting his vital role in strengthening DocGo's cybersecurity practices. The appointment underscores DocGo's commitment to combining security and innovation in its mission to revolutionize healthcare delivery.

Lingefors joined DocGo in 2024, bringing over twenty years of experience in cybersecurity, risk management, and information security governance. He aims to continue building secure foundations that protect systems and data while empowering teams to innovate safely.