\nDocGo Inc. (Nasdaq: DCGO) (\u201cDocGo\u201d or the \u201cCompany\u201d), a leading provider of technology-enabled mobile health and medical transportation services, today announced financial and operating results for the fourth quarter and full year ended December 31, 2025.<\/p>\n
Fourth Quarter 2025 Financial Highlights<\/b><\/p>\n Full Year 2025 Financial Highlights<\/b><\/p>\n Select Corporate Highlights for the Fourth Quarter of 2025 and Recent Weeks<\/b><\/p>\n Financial Guidance<\/b><\/p>\n \nLee Bienstock, Chief Executive Officer of DocGo, commented \u201cWhile 2025 was a year of transition and focus on our core business lines, the robust growth in our \u2018healthcare at any address\u2019 business \u2013 which includes care in the home, remote patient monitoring, mobile phlebotomy and virtual care services \u2013 supports our belief that DocGo\u2019s offering is well positioned to meet the needs of the evolving healthcare landscape.\u201d Bienstock continued \u201cWe are increasing guidance based on the record volumes we\u2019ve seen thus far in 2026, and the anticipated full-year impact of our cost efficiency initiatives. We believe that our plan and resources are sufficient to enable the Company to achieve profitability in the second half of 2026.\u201c<\/p>\n \nNorm Rosenberg, Chief Financial Officer of DocGo, commented \u201cI am encouraged by the positive trend in medical transportation gross margins on both a quarterly sequential and year-over-year basis, and we anticipate additional margin improvements in both segments in 2026. During the fourth quarter, the company incurred material costs associated with the final wind-down of migrant-related programs, which will not recur in Q1. Cash collections during the fourth quarter of 2025 were lower than our expectations, driven by delayed payments from our outstanding migrant-related receivables. We have collected more than 97% of all migrant-related receivables to date, and expect that we will collect the approximately $20 million outstanding in due course.\u201d<\/p>\n Conference Call and Webcast Details<\/b><\/p>\n Monday, March 16th<\/sup>, 2026, at 5:00 PM ET<\/span><\/p>\n \n1-800-717-1738 – Investors Dial<\/p>\n \n1-646-307-1865 – Int\u2019l Investors Dial<\/p>\n \nConference ID: 74028<\/p>\n \nWebcast: https:\/\/viavid.webcasts.com\/starthere.jsp?ei=1752136&tp_key=c6aecb5179<\/a><\/p>\n \nThe webcast can also be accessed under Events on the Investors section of the Company\u2019s website, https:\/\/ir.docgo.com\/<\/a>.<\/p>\n About DocGo<\/b><\/p>\n \nDocGo is leading the proactive healthcare revolution with an innovative care delivery platform that includes mobile health services, remote patient monitoring, ambulance services and a 50-state virtual care network. DocGo is helping to reshape the traditional four-wall healthcare system by providing high quality, highly accessible care to patients where and when they need it. DocGo\u2019s proprietary technology and relationships with a dedicated field staff of certified health professionals elevate the quality of patient care and drive business efficiencies for municipalities, hospital networks and health insurance providers. With Mobile Health, DocGo empowers the full promise and potential of telehealth by facilitating healthcare treatment, in tandem with a remote advanced practice provider, in the comfort of a patient\u2019s home or workplace. Together with DocGo\u2019s integrated Ambulnz medical transport services, DocGo is bridging the gap between physical and virtual care. For more information, please visit www.docgo.com<\/a>. To get an inside look on how the proactive healthcare revolution is helping transform healthcare by reducing costs, increasing efficiency and improving outcomes, visit www.proactivecarenow.com<\/a>.<\/p>\n Forward-Looking Statements<\/b><\/p>\n This earnings release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, the plans, strategies, outcomes, and prospects, both business and financial, of the Company, including the Company\u2019s expectations around projected revenues and adjusted EBITDA for fiscal year 2026; the performance and growth of its core business lines; the launch of new Mobile Health programs; the demand for and expansion of the Company\u2019s services; cash flow and cash collections; the Company\u2019s cash balances; margin improvements; and the Company\u2019s return to profitability. These statements are based on the beliefs and assumptions of the Company\u2019s management. Although the Company believes that its plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, the Company cannot assure you that it will achieve or realize these plans, intentions, outcomes, results or expectations. Accordingly, you should not place undue reliance on such statements. All statements other than statements of historical fact are forward-looking, including, but not limited, to statements regarding the Company\u2019s future actions, business strategies or models, plans, goals, future events, future revenues, future margins, current and future revenue guidance, future growth or performance, financing needs, business trends, results of operations, objectives and intentions with respect to future operations, services and products, and new and existing contracts or partnerships. In some cases, these statements may be preceded by, followed by or include the words \u201cbelieves,\u201d \u201cestimates,\u201d \u201cexpects,\u201d \u201cprojects,\u201d \u201cforecasts,\u201d \u201cmay,\u201d \u201cmight,\u201d \u201cwill,\u201d \u201cshould,\u201d \u201ccould,\u201d \u201ccan,\u201d \u201cwould,\u201d \u201cdesign,\u201d \u201cpotential,\u201d \u201cseeks,\u201d \u201cplans,\u201d \u201cscheduled,\u201d \u201canticipates,\u201d \u201cintends\u201d or the negative of these terms or similar expressions.<\/i><\/p>\n Forward-looking statements are inherently subject to substantial risks, uncertainties and assumptions, many of which are beyond the Company\u2019s control, and which may cause its actual results or outcomes, or the timing of its results or outcomes, to differ materially from those contained in its forward-looking statements, including, but not limited to the following: impacts related to the recent wind down of migrant-related services; the Company\u2019s ability to continue as a going concern; the Company\u2019s ability to maintain its listing on Nasdaq; the Company\u2019s ability to pursue strategic initiatives to deliver on shareholder value; the Company\u2019s ability to expand its programs with insurance partners, hospital systems, municipalities and other strategic partners; the Company\u2019s ability to successfully implement its business strategy, including delivering value to shareholders via buybacks and funding new strategic relationships; the Company\u2019s ability to establish, maintain and grow customer relationships; the Company\u2019s ability to execute projects to the satisfaction of its customers; the Company\u2019s ability to grow demand for its care gap closure programs and other services; the Company\u2019s ability to maintain or grow its cash balances; the Company\u2019s reliance on and ability to maintain its contractual relationships with its healthcare provider partners and other strategic partners; the Company\u2019s ability to compete effectively in a highly competitive industry, including conditions in the healthcare transportation and mobile health services markets; the Company\u2019s ability to maintain existing contracts; the Company\u2019s reliance on government contracts, including changes in government spending on healthcare and other social services; recent revenue growth derived from a small number of large customers; the Company\u2019s ability to effectively manage its growth; the Company\u2019s financial performance and future prospects; the Company\u2019s ability to deliver on its business strategies or models, plans and goals; the Company\u2019s ability to expand geographically; the Company\u2019s M&A activity and success of its acquisition strategy; the Company\u2019s ability to retain its workforce and management personnel and successfully manage leadership transitions; the availability of healthcare professionals and other personnel; changes in the cost of labor; the Company\u2019s ability to collect on customer receivables; risks associated with the Company\u2019s share repurchase program; overall macroeconomic and geopolitical conditions, including the interest rate environment, the inflationary environment, the potential recessionary environment, regional conflict and tensions, financial institution instability and the ongoing or any future shutdown of the U.S. federal government; the ability of the Company\u2019s suppliers to meet its needs; the Company\u2019s ability to obtain or maintain operating licenses; potential changes in federal, state or local government policies or priorities; expected impacts of geopolitical instability; the Company\u2019s competitive position and opportunities, including its ability to realize the benefits from its operating model; the Company\u2019s ability to improve gross margins; the Company\u2019s ability to implement and deliver on cost-containment measures and ongoing cost rationalization initiatives; legislative and regulatory actions; the impact of legal proceedings and compliance risk; volatility of our stock price; the impact on the Company\u2019s business and reputation in the event of information technology system failures, network disruptions, cyber incidents or losses or unauthorized access to, or release of, confidential information; the Company\u2019s ability to comply with laws and regulations regarding data privacy and protection and other risk factors included in the Company\u2019s filings with the Securities and Exchange Commission (\u201cSEC\u201d).<\/i><\/p>\n Moreover, the Company operates in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible for the Company to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this earnings release. The results, events, and circumstances reflected in the forward-looking statements may not be achieved or occur, and actual results or outcomes could differ materially from those described in the forward-looking statements.<\/i><\/p>\n The forward-looking statements made in this earnings release are based on events or circumstances as of the date on which the statements are made. The Company undertakes no obligation to update any forward-looking statements made in this earnings release to reflect events or circumstances after the date of this earnings release or to reflect new information or the occurrence of unanticipated events, except as and to the extent required by law. The Company\u2019s forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures or investments.<\/i><\/p>\n DocGo Inc. and Subsidiaries<\/b><\/p>\n<\/td>\n<\/tr>\n CONSOLIDATED BALANCE SHEETS<\/b><\/p>\n<\/td>\n<\/tr>\n 2025<\/b><\/p>\n<\/td>\n 2024<\/b><\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n51,018,657<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n89,241,695<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n92,893,216<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n210,899,926<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n4,790,215<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,005,977<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n3,697,371<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n338,665<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n 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\n5,509,687<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,694,467<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n67,490,046<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n121,806,577<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n183,843<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,215<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n4,776,215<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n7,563,664<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8,599,072<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n11,217,907<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10,031,138<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n91,231,675<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n140,442,002<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n9,864<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10,191<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n325,416,366<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n321,087,583<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(183,801,795<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1,402,167<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n2,387,404<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,221,869<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n144,011,839<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n320,917,476<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(18,140,502<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(5,738,346<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n125,871,337<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n315,179,130<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n217,103,012<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n455,621,132<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n DocGo Inc. and Subsidiaries<\/b><\/p>\n<\/td>\n<\/tr>\n CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME<\/b><\/p>\n<\/td>\n<\/tr>\n 2025<\/b><\/p>\n<\/td>\n 2024<\/b><\/p>\n<\/td>\n 2023<\/b><\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n322,196,000<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n616,555,132<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n624,288,642<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n223,438,301<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n402,980,557<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 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\n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n4,000<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n95,892<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(13,072,046<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(5,402,781<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(14,086<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(29,980<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(19,851<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(109,619<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2,008,524<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1,044,422<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n25,646<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(410,810<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(794,566<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2,678,073<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(1,419,963<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1,216,409<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(1,864,710<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(7,855,947<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n281,662<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(701,078<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(25,122,394<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1,241,191<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n77,607,172<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n108,578,498<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n52,484,778<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n107,337,307<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n 2025<\/b><\/p>\n<\/td>\n 2024<\/b><\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n50,187<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n635,262<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n258,511<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n208,115<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n(165,888<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(661,869<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n2,457,190<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2,993,279<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n35,140<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n168,500<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n51,018,657<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n89,241,695<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n1,466,121<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n18,095,612<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n52,484,778<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n107,337,307<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Non-GAAP Financial Measures<\/b><\/p>\n \nThe following information provides definitions and reconciliation of non-GAAP financial measures used by the Company to the most directly comparable financial measures calculated and presented in accordance with generally accepted accounting principles (\u201cGAAP\u201d). The Company has provided this non-GAAP financial information, which is not calculated or presented in accordance with GAAP, as information supplemental and in addition to the financial measures presented in this earnings release that are calculated and presented in accordance with GAAP. Such non-GAAP financial measures should not be considered superior to, as a substitute for or alternative to, and should be considered in conjunction with, the GAAP financial measures presented in this earnings release. The non-GAAP financial measures used by the Company may differ from similarly titled measures used by other companies.<\/p>\n Adjusted Gross Margin<\/i><\/b><\/p>\n \nAdjusted gross profit and adjusted gross margin are considered non-GAAP financial measures under SEC rules because they exclude certain amounts included in gross profit and gross margin calculated in accordance with GAAP. Adjusted gross profit is total revenue minus cost of revenue, excluding depreciation and amortization (which are shown separately), and adjusted gross margin is adjusted gross profit as a percentage of total revenue.<\/p>\n \nThe Company\u2019s management believes that adjusted gross margin is useful in evaluating DocGo\u2019s operating performance, as the calculation of this measure excludes the impact of non-cash depreciation and amortization charges. The Company\u2019s management believes that by using adjusted gross margin in conjunction with GAAP gross margin, investors will get a more complete view of what management considers to be the Company\u2019s core operating performance and allow for comparison of this measure when compared to those of prior periods. While many companies use adjusted gross margin as a performance measure, not all companies use identical calculations for determining adjusted gross margin. As such, DocGo\u2019s presentation of adjusted gross margin might not be comparable to similarly titled measures of other companies.<\/p>\n Adjusted EBITDA<\/i><\/b><\/p>\n \nAdjusted EBITDA is considered a non-GAAP financial measure under SEC rules because it excludes certain amounts included in net income (loss) calculated in accordance with GAAP. Specifically, adjusted EBITDA is arrived at by taking reported GAAP net income and adding back the following items: net interest expense (income), provision for (benefit from) income taxes, depreciation and amortization, other (income) expense, non-cash equity-based compensation and certain other non-recurring expenses consisting of certain one-time legal settlements and certain one-time expenses incurred in connection with acquisitions and other corporate activities, beyond those that are typically incurred.<\/p>\n \nThe Company\u2019s management believes that its adjusted EBITDA measure is useful in evaluating DocGo\u2019s operating performance, as the calculation of this measure generally eliminates the effect of financing and income taxes and the accounting effects of capital spending and acquisitions, as well as other items of a non-recurring and\/or non-cash nature. Adjusted EBITDA is not intended to be a measure of GAAP cash flow, as this measure does not consider certain cash-based expenses, such as payments for taxes or debt service.<\/p>\n \nManagement believes that using adjusted EBITDA in conjunction with GAAP measures such as net income assists investors in getting a more complete picture of the Company\u2019s financial results and operations, affording them with a more complete view of what management considers to be the Company\u2019s core operating performance as well as offering the ability to assess such performance as compared with that of prior periods and management\u2019s public guidance. While many companies use adjusted EBITDA as a performance measure, not all companies use identical calculations for determining adjusted EBITDA. As such, DocGo\u2019s presentation of adjusted EBITDA might not be comparable to similarly titled measures of other companies.<\/p>\n Reconciliation of Non-GAAP Measures<\/i><\/b><\/p>\n \nThe table below reflects the reconciliation of GAAP gross margin and adjusted gross margin for the three and twelve months ended December 31, 2025 compared to the same periods in 2024:<\/p>\n DocGo Inc. and Subsidiaries<\/b><\/p>\n<\/td>\n<\/tr>\n Gross Margin Recon<\/b><\/p>\n<\/td>\n<\/tr>\n 2025<\/b><\/p>\n<\/td>\n 2024<\/b><\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n 2024<\/b><\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n74,935,688<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n120,833,073<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n322,196,000<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n616,555,132<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(50,571,192<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(80,334,624<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(223,438,301<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(402,980,557<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(3,948,234<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(3,322,925<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(15,661,865<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(15,884,898<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n20,416,262<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n37,175,524<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n83,095,834<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n197,689,677<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n3,948,234<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,322,925<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n15,661,865<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n15,884,898<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,269,129<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n$<\/p>\n<\/td>\n \n24,364,496<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n40,498,449<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n104,026,828<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n213,574,575<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n27.2<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n30.8<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n25.8<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n32.1<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n32.5<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n33.5<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n32.3<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n34.6<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nThe table below reflects the reconciliation of net income (loss) to adjusted EBITDA for the three months and twelve months ended December 31, 2025 compared to the same periods in 2024 (in millions):<\/p>\n 2025<\/b><\/p>\n<\/td>\n 2024<\/b><\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n 2024<\/b><\/p>\n<\/td>\n<\/tr>\n \n$(142.3)<\/p>\n<\/td>\n \n$(7.6)<\/p>\n<\/td>\n \n$(196.4)<\/p>\n<\/td>\n \n$13.4<\/p>\n<\/td>\n<\/tr>\n \n0.2<\/p>\n<\/td>\n \n0.5<\/p>\n<\/td>\n \n1.2<\/p>\n<\/td>\n \n1.9<\/p>\n<\/td>\n<\/tr>\n \n30.7<\/p>\n<\/td>\n \n1.1<\/p>\n<\/td>\n \n8.9<\/p>\n<\/td>\n \n14.4<\/p>\n<\/td>\n<\/tr>\n \n3.9<\/p>\n<\/td>\n \n3.3<\/p>\n<\/td>\n \n15.7<\/p>\n<\/td>\n \n15.9<\/p>\n<\/td>\n<\/tr>\n \n6.9<\/p>\n<\/td>\n \n(1.4)<\/p>\n<\/td>\n \n8.2<\/p>\n<\/td>\n \n(1.0)<\/p>\n<\/td>\n<\/tr>\n \n(100.6)<\/p>\n<\/td>\n \n(4.1)<\/p>\n<\/td>\n \n(162.4)<\/p>\n<\/td>\n \n44.6<\/p>\n<\/td>\n<\/tr>\n \n3.1<\/p>\n<\/td>\n \n3.8<\/p>\n<\/td>\n \n17.4<\/p>\n<\/td>\n \n13.6<\/p>\n<\/td>\n<\/tr>\n \n86.2<\/p>\n<\/td>\n \n1.4<\/p>\n<\/td>\n \n116.4<\/p>\n<\/td>\n \n2.1<\/p>\n<\/td>\n<\/tr>\n \n$(11.3)<\/p>\n<\/td>\n \n$1.1<\/p>\n<\/td>\n \n$(28.6)<\/p>\n<\/td>\n \n$60.3<\/p>\n<\/td>\n<\/tr>\n \n$74.9<\/p>\n<\/td>\n \n$120.8<\/p>\n<\/td>\n \n$322.2<\/p>\n<\/td>\n \n$616.6<\/p>\n<\/td>\n<\/tr>\n \n(149.0)%<\/p>\n<\/td>\n \n(5.4)%<\/p>\n<\/td>\n \n(58.2)%<\/p>\n<\/td>\n \n4.5%<\/p>\n<\/td>\n<\/tr>\n \n(190.0)%<\/p>\n<\/td>\n \n(6.3)%<\/p>\n<\/td>\n \n(61.0)%<\/p>\n<\/td>\n \n2.2%<\/p>\n<\/td>\n<\/tr>\n \n(15.1)%<\/p>\n<\/td>\n \n0.9%<\/p>\n<\/td>\n \n(8.9)%<\/p>\n<\/td>\n \n9.8%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\u00a0<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20260316860170\/en\/<\/a><\/span><\/p>\n Investors: KEYWORDS:<\/b> United States North America New York<\/p>\n INDUSTRY KEYWORDS:<\/b> Mobile\/Wireless Technology Hospitals Health Technology Telemedicine\/Virtual Medicine Software Practice Management Managed Care Health Data Management<\/p>\n\n
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\n \n \n \n \n \n December 31,<\/b><\/td>\n<\/tr>\n \n \n \n \n \n \n ASSETS<\/b><\/td>\n \n \n <\/tr>\n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Current assets:<\/td>\n \n \n <\/tr>\n \n Cash and cash equivalents<\/td>\n \n \n \n \n \n \n \n \n Accounts receivable, net of allowance for credit loss of $8,299,053 and $5,873,942 as of December 31, 2025 and December 31, 2024, respectively<\/td>\n \n \n \n \n \n \n \n \n Prepaid expenses<\/td>\n \n \n \n \n \n \n \n \n Other current assets<\/td>\n \n \n \n \n \n \n \n \n Total current assets<\/td>\n \n \n \n \n \n \n \n \n Property and equipment, net<\/td>\n \n \n \n \n \n \n \n \n Intangibles, net<\/td>\n \n \n \n \n \n \n \n \n Goodwill<\/td>\n \n \n \n \n \n \n \n \n Restricted cash and cash equivalents<\/td>\n \n \n \n \n \n \n \n \n Restricted investments (amortized cost of $15,737,694 and $0 as of December 31, 2025 and December 31, 2024, respectively)<\/td>\n \n \n \n \n \n \n \n \n Operating lease right-of-use assets<\/td>\n \n \n \n \n \n \n \n \n Finance lease right-of-use assets<\/td>\n \n \n \n \n \n \n \n \n Investments<\/td>\n \n \n \n \n \n \n \n \n Deferred tax assets<\/td>\n \n \n \n \n \n \n \n \n Other assets<\/td>\n \n \n \n \n \n \n \n \n Total assets<\/td>\n \n \n \n \n \n \n \n \n LIABILITIES AND STOCKHOLDERS\u2019 EQUITY<\/b><\/td>\n \n \n <\/tr>\n \n Current liabilities:<\/td>\n \n \n <\/tr>\n \n Accounts payable<\/td>\n \n \n \n \n \n \n \n \n Accrued liabilities<\/td>\n \n \n \n \n \n \n \n \n Line of credit<\/td>\n \n \n \n \n \n \n \n \n Notes payable, current<\/td>\n \n \n \n \n \n \n \n \n Due to seller<\/td>\n \n \n \n \n \n \n \n \n Contingent consideration, current<\/td>\n \n \n \n \n \n \n \n \n Operating lease liability, current<\/td>\n \n \n \n \n \n \n \n \n Finance lease liability, current<\/td>\n \n \n \n \n \n \n \n \n Total current liabilities<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Notes payable, non-current<\/td>\n \n \n \n \n \n \n \n \n Contingent consideration, non-current<\/td>\n \n \n \n \n \n \n \n \n Operating lease liability, non-current<\/td>\n \n \n \n \n \n \n \n \n Finance lease liability, non-current<\/td>\n \n \n \n \n \n \n \n \n Total liabilities<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Commitments and contingencies<\/td>\n \n \n <\/tr>\n \n Stockholders\u2019 equity:<\/td>\n \n \n <\/tr>\n \n Common stock ($0.0001 par value; 500,000,000 shares authorized as of December 31, 2025 and December 31, 2024; 98,640,059 and 101,910,883 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively)<\/td>\n \n \n \n \n \n \n \n \n Additional paid-in-capital<\/td>\n \n \n \n \n \n \n \n \n Accumulated deficit<\/td>\n \n \n \n \n \n \n \n \n Accumulated other comprehensive income<\/td>\n \n \n \n \n \n \n \n \n Total stockholders\u2019 equity attributable to DocGo Inc. and Subsidiaries<\/td>\n \n \n \n \n \n \n \n \n Noncontrolling interests<\/td>\n \n \n \n \n \n \n \n \n Total stockholders\u2019 equity<\/td>\n \n \n \n \n \n \n \n \n Total liabilities and stockholders\u2019 equity<\/td>\n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n Year Ended
December 31,<\/b><\/td>\n<\/tr>\n\n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Revenues, net<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Expenses:<\/td>\n \n \n \n \n <\/tr>\n \n Cost of revenues (exclusive of depreciation and amortization, which is shown separately below)<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Operating expenses:<\/td>\n \n \n \n \n <\/tr>\n \n General and administrative<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Depreciation and amortization<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Legal and regulatory<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Technology and development<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Sales, advertising and marketing<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Intangible asset impairment<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Goodwill impairment<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Total expenses<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n (Loss) income from operations<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Other (expense) income:<\/td>\n \n \n \n \n <\/tr>\n \n Interest (expense) income, net<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n (Loss) gain on change in fair value of contingent consideration<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Finite-lived intangible asset impairment<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Loss on equity method investments<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Equity investment impairment<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Loss on remeasurement of operating and finance leases<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n (Loss) gain on disposal of assets<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Other (expense) income<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Total other (expense) income<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Net (loss) income before income tax expense<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Provision for income taxes<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Net (loss) income<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Net (loss) income attributable to noncontrolling interests<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Net (loss) income attributable to stockholders of DocGo Inc. and Subsidiaries<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Other comprehensive income (loss)<\/td>\n \n \n \n \n <\/tr>\n \n Unrealized gain on investments, net of tax<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Foreign currency translation adjustment<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Total comprehensive (loss) income<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Net (loss) income per share attributable to DocGo Inc. and Subsidiaries – Basic<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Weighted-average shares outstanding – Basic<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Net (loss) income per share attributable to DocGo Inc. and Subsidiaries – Diluted<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Weighted-average shares outstanding – Diluted<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n Year Ended
December 31,<\/b><\/td>\n<\/tr>\n\n \n \n \n \n \n \n \n CASH FLOWS FROM OPERATING ACTIVITIES:<\/b><\/td>\n \n \n \n \n <\/tr>\n \n Net (loss) income<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Adjustments to reconcile net (loss) income to net cash provided by
(used in) operating activities:<\/td>\n\n \n \n \n <\/tr>\n \n Depreciation of property and equipment<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Amortization of intangible assets<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Amortization of finance lease right-of-use assets<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Loss (gain) on disposal of assets<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Deferred income tax<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Accretion of discount related to restricted investments<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Loss on equity method investments<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Bad debt expense<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Stock-based compensation<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Loss on remeasurement of operating and finance leases<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Loss on liquidation of business<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Intangible asset impairment<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Goodwill impairment<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Equity investment impairment<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Loss (gain) on change in fair value of contingent consideration<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Changes in operating assets and liabilities:<\/td>\n \n \n \n \n <\/tr>\n \n Accounts receivable<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Prepaid expenses and other current assets<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Other assets<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Accounts payable<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Accrued liabilities<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Operating lease liabilities and right-of-use assets<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Net cash provided by (used in) operating activities<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n CASH FLOWS FROM INVESTING ACTIVITIES:<\/b><\/td>\n \n \n \n \n <\/tr>\n \n Purchase of property and equipment<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Purchase of intangibles<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Acquisition of businesses, net of cash acquired<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Purchase of restricted investments<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Purchase of equity method investments<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Purchase of equity securities<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Proceeds from sale and maturity of restricted investments<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Proceeds from disposal of property and equipment<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Net cash used in investing activities<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n CASH FLOWS FROM FINANCING ACTIVITIES:<\/b><\/td>\n \n \n \n \n <\/tr>\n \n Proceeds from revolving credit line<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Repayments of revolving credit line<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Proceeds from notes payable<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Repayments of notes payable<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Due to seller<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Acquisition of noncontrolling interest<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Earnout payments on contingent liabilities<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Distributions paid to noncontrolling interest<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Proceeds from exercise of stock options<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Payments for taxes related to shares withheld for employee taxes<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Common stock repurchased<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Payments on obligations under finance lease<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Net cash (used in) provided by financing activities<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Effect of exchange rate changes on cash and cash equivalents<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Net (decrease) increase in cash, cash equivalents, restricted cash and restricted cash equivalents<\/b><\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n Year Ended
December 31,<\/b><\/td>\n<\/tr>\n\n \n \n \n \n \n \n \n Supplemental disclosure of cash and non-cash transactions:<\/b><\/td>\n \n \n \n \n <\/tr>\n \n Cash paid for interest<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Cash paid for interest on finance lease liabilities<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Cash paid for income taxes, net of refunds<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Right-of-use assets obtained in exchange for lease liabilities<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Remeasurement of finance lease right-of-use asset due to lease modification<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Supplemental non-cash investing and financing activities:<\/b><\/td>\n \n \n \n \n <\/tr>\n \n Property and equipment in accounts payable<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Acquisition of remaining FMC NA through due to seller and issuance of stock<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Acquisition of CRMS through issuance of stock<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n CRMS True-up Payment through issuance of stock<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Receivables exchanged for trade credits<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Pre-acquisition receivables written off through due to seller<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Reconciliation of cash and restricted cash<\/b><\/td>\n \n \n \n \n <\/tr>\n \n Cash<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Restricted cash<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n Total cash and restricted cash shown in statement of cash flows<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n Three Months Ended
December 31,<\/b><\/td>\n<\/tr>\n\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Revenues, net<\/td>\n \n \n \n \n \n \n \n \n Expenses:<\/td>\n \n \n <\/tr>\n \n Cost of revenues (exclusive of depreciation and amortization, which is shown separately below)<\/td>\n \n \n \n \n \n \n \n \n Operating expenses:<\/td>\n \n \n <\/tr>\n \n General and administrative<\/td>\n \n \n \n \n \n \n \n \n Depreciation and amortization<\/td>\n \n \n \n \n \n \n \n \n Legal and regulatory<\/td>\n \n \n \n \n \n \n \n \n Technology and development<\/td>\n \n \n \n \n \n \n \n \n Sales, advertising and marketing<\/td>\n \n \n \n \n \n \n \n \n Intangible asset impairment<\/td>\n \n \n \n \n \n \n \n \n Goodwill impairment<\/td>\n \n \n \n \n \n \n \n \n Total expenses<\/td>\n \n \n \n \n \n \n \n \n Loss from operations<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Other (expense) income:<\/td>\n \n \n <\/tr>\n \n Interest expense, net<\/td>\n \n \n \n \n \n \n \n \n (Loss) gain on change in fair value of contingent consideration<\/td>\n \n \n \n \n \n \n \n \n Finite-lived intangible asset impairment<\/td>\n \n \n \n \n \n \n \n \n Loss on equity method investments<\/td>\n \n \n \n \n \n \n \n \n Equity investment impairment<\/td>\n \n \n \n \n \n \n \n \n (Loss) gain on remeasurement of operating and finance leases<\/td>\n \n \n \n \n \n \n \n \n Gain (loss) on disposal of assets<\/td>\n \n \n \n \n \n \n \n \n Other (expense) income<\/td>\n \n \n \n \n \n \n \n \n Total other (expense) income<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Net loss before income tax expense<\/td>\n \n \n \n \n \n \n \n \n (Provision for) benefit from income taxes<\/td>\n \n \n \n \n \n \n \n \n Net loss<\/td>\n \n \n \n \n \n \n \n \n Net loss attributable to noncontrolling interests<\/td>\n \n \n \n \n \n \n \n \n Net loss attributable to stockholders of DocGo Inc. and Subsidiaries<\/td>\n \n \n \n \n \n \n \n \n Other comprehensive loss<\/td>\n \n \n <\/tr>\n \n Unrealized (loss) gain on investments, net of tax<\/td>\n \n \n \n \n \n \n \n \n Foreign currency translation adjustment<\/td>\n \n \n \n \n \n \n \n \n Total comprehensive loss<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Net loss per share attributable to DocGo Inc. and Subsidiaries – Basic<\/td>\n \n \n \n \n \n \n \n \n Weighted-average shares outstanding – Basic<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Net loss per share attributable to DocGo Inc. and Subsidiaries – Diluted<\/td>\n \n \n \n \n \n \n \n \n Weighted-average shares outstanding – Diluted<\/td>\n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n Three Months Ended
December 31,<\/b><\/td>\n<\/tr>\n\n \n \n \n \n \n CASH FLOWS FROM OPERATING ACTIVITIES:<\/b><\/td>\n \n \n <\/tr>\n \n Net loss<\/td>\n \n \n \n \n \n \n \n \n Adjustments to reconcile net loss to net cash (used in)
provided by operating activities:<\/td>\n\n \n <\/tr>\n \n Depreciation of property and equipment<\/td>\n \n \n \n \n \n \n \n \n Amortization of intangible assets<\/td>\n \n \n \n \n \n \n \n \n Amortization of finance lease right-of-use assets<\/td>\n \n \n \n \n \n \n \n \n (Gain) loss on disposal of assets<\/td>\n \n \n \n \n \n \n \n \n Deferred income tax<\/td>\n \n \n \n \n \n \n \n \n Accretion of discount related to restricted investments<\/td>\n \n \n \n \n \n \n \n \n Loss on equity method investments<\/td>\n \n \n \n \n \n \n \n \n Bad debt expense<\/td>\n \n \n \n \n \n \n \n \n Stock-based compensation<\/td>\n \n \n \n \n \n \n \n \n Loss on remeasurement of operating and finance leases<\/td>\n \n \n \n \n \n \n \n \n Intangible asset impairment<\/td>\n \n \n \n \n \n \n \n \n Goodwill impairment<\/td>\n \n \n \n \n \n \n \n \n Equity investment impairment<\/td>\n \n \n \n \n \n \n \n \n Loss (gain) on change in fair value of contingent consideration<\/td>\n \n \n \n \n \n \n \n \n Changes in operating assets and liabilities:<\/td>\n \n \n <\/tr>\n \n Accounts receivable<\/td>\n \n \n \n \n \n \n \n \n Prepaid expenses and other current assets<\/td>\n \n \n \n \n \n \n \n \n Other assets<\/td>\n \n \n \n \n \n \n \n \n Accounts payable<\/td>\n \n \n \n \n \n \n \n \n Accrued liabilities<\/td>\n \n \n \n \n \n \n \n \n Operating lease liabilities and right-of-use assets<\/td>\n \n \n \n \n \n \n \n \n Net cash (used in) provided by operating activities<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n CASH FLOWS FROM INVESTING ACTIVITIES:<\/b><\/td>\n \n \n <\/tr>\n \n Purchase of property and equipment<\/td>\n \n \n \n \n \n \n \n \n Purchase of intangibles<\/td>\n \n \n \n \n \n \n \n \n Acquisition of businesses, net of cash acquired<\/td>\n \n \n \n \n \n \n \n \n Purchase of restricted investments<\/td>\n \n \n \n \n \n \n \n \n Purchase of equity securities<\/td>\n \n \n \n \n \n \n \n \n Proceeds from sale and maturity of restricted investments<\/td>\n \n \n \n \n \n \n \n \n Proceeds from disposal of property and equipment<\/td>\n \n \n \n \n \n \n \n \n Net cash used in investing activities<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n CASH FLOWS FROM FINANCING ACTIVITIES:<\/b><\/td>\n \n \n <\/tr>\n \n Repayments of notes payable<\/td>\n \n \n \n \n \n \n \n \n Due to seller<\/td>\n \n \n \n \n \n \n \n \n Earnout payments on contingent liabilities<\/td>\n \n \n \n \n \n \n \n \n Distributions paid to noncontrolling interest<\/td>\n \n \n \n \n \n \n \n \n Proceeds from exercise of stock options<\/td>\n \n \n \n \n \n \n \n \n Payments for taxes related to shares withheld for employee taxes<\/td>\n \n \n \n \n \n \n \n \n Common stock repurchased<\/td>\n \n \n \n \n \n \n \n \n Payments on obligations under finance lease<\/td>\n \n \n \n \n \n \n \n \n Net cash used in financing activities<\/td>\n \n \n \n \n \n \n \n \n Effect of exchange rate changes on cash and cash equivalents<\/td>\n \n \n \n \n \n \n \n \n Net decrease in cash, cash equivalents, restricted cash and restricted cash equivalents<\/b><\/td>\n \n \n \n \n \n \n \n \n Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period<\/td>\n \n \n \n \n \n \n \n \n Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n Three Months Ended
December 31,<\/b><\/td>\n<\/tr>\n\n \n \n \n \n \n Supplemental disclosure of cash and non-cash transactions:<\/b><\/td>\n \n \n <\/tr>\n \n Cash paid for interest<\/td>\n \n \n \n \n \n \n \n \n Cash paid for interest on finance lease liabilities<\/td>\n \n \n \n \n \n \n \n \n Cash paid for income taxes, net of refunds<\/td>\n \n \n \n \n \n \n \n \n Right-of-use assets obtained in exchange for lease liabilities<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Supplemental non-cash investing and financing activities:<\/b><\/td>\n \n \n <\/tr>\n \n Property and equipment in accounts payable<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Reconciliation of cash and restricted cash<\/b><\/td>\n \n \n <\/tr>\n \n Cash<\/td>\n \n \n \n \n \n \n \n \n Restricted cash<\/td>\n \n \n \n \n \n \n \n \n Total cash and restricted cash shown in statement of cash flows<\/td>\n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n Three Months Ended
December 31,<\/b><\/td>\n\n Year Ended
December 31,<\/b><\/td>\n<\/tr>\n\n DocGo Inc. Consolidated<\/b><\/td>\n \n \n \n \n \n \n \n \n Revenue<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Cost of revenue (exclusive of depreciation and amortization, which are shown separately below)<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Depreciation and amortization<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n GAAP gross profit<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Depreciation and amortization<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Non-recurring items included in cost of revenue above<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Adjusted gross profit<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n GAAP gross margin<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Adjusted gross margin<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n DocGo Inc. and Subsidiaries
Net Loss to Adjusted EBITDA<\/b><\/td>\n<\/tr>\n\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n Three Months Ended
December 31,<\/b><\/td>\n\n Year Ended
December 31,<\/b><\/td>\n<\/tr>\n\n \n \n \n \n \n \n \n \n \n Net (loss) income (GAAP)<\/td>\n \n \n \n \n \n \n \n \n (+) Net interest expense<\/td>\n \n \n \n \n \n \n \n \n (+) Income tax expense (benefit)<\/td>\n \n \n \n \n \n \n \n \n (+) Depreciation and amortization<\/td>\n \n \n \n \n \n \n \n \n (+) Other expense (income)<\/td>\n \n \n \n \n \n \n \n \n EBITDA<\/b><\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n (+) Non-cash stock compensation<\/td>\n \n \n \n \n \n \n \n \n (+) Non-recurring expense<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Adjusted EBITDA<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Total Revenue<\/td>\n \n \n \n \n \n \n \n \n Pretax income margin<\/td>\n \n \n \n \n \n \n \n \n Net margin<\/td>\n \n \n \n \n \n \n \n \n Adjusted EBITDA margin<\/td>\n \n \n \n \n \n \n \n <\/p>\n
\n<\/b>
Mike Cole
\n
DocGo
\n
949-444-1341
\n
mike.cole@docgo.com
\n<\/a>
ir@docgo.com<\/a><\/p>\n
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20260316860170\/en\/2239989\/3\/DocGo_Logo_Primary.jpg\"){kind=logo}
<\/td>\n<\/tr>\n