Thu, May 8, 8:38 PM (14 days ago)
**DocGo Inc. (DCGO) Q1 2025 Financial Summary** **Financial Health & Performance:** - **Revenue:** $96.0 million, down 50% YoY due to the wind-down of migrant-related services. - **Net Loss:** $11.1 million, compared to a net income of $10.6 million in Q1 2024. - **Operating Loss:** $14.0 million, a significant decrease from a $15.9 million operating income in Q1 2024. - **Cash Flow:** Positive operating cash flow of $9.6 million, despite the net loss. **Segment Performance:** - **Mobile Health Services:** Revenue dropped 68.6% YoY to $45.2 million due to the wind-down of migrant-related projects. - **Transportation Services:** Revenue increased 5.4% YoY to $50.8 million, driven by a 5.9% increase in trip volumes. **Expenses:** - **Cost of Revenues:** Decreased 47.8% YoY to $65.2 million, but increased as a percentage of revenue to 67.9%. - **Operating Expenses:** Decreased 12.8% YoY to $44.8 million, but increased as a percentage of revenue to 46.7%. **Liquidity & Capital Resources:** - **Cash Balance:** $79.0 million, a decrease of $10.2 million from Q4 2024. - **Working Capital:** $154.9 million, a decrease of $27.8 million from Q4 2024. - **Revolving Facility:** $30.0 million outstanding, with $60.0 million unused. **Future Outlook:** - **Revenue Growth:** Expected to be lower in 2025 due to the wind-down of migrant-related projects. - **Cash Flow:** Expected to be sufficient for near-term working capital needs. - **Capital Requirements:** May need to raise additional capital if growth rate is higher than anticipated. **Risks & Uncertainties:** - **Government Contracts:** Subject to audits, investigations, and policy changes. - **Economic Conditions:** Unfavorable changes could adversely affect business. - **Competitive Environment:** Highly competitive industry with conditions in healthcare transportation and mobile health services markets. **Stock Performance (as of the report):** - **Ticker:** DCGO - **Exchange:** The Nasdaq Stock Market LLC **Management's Discussion:** - Focus on cost containment, improving gross margins, and expanding into new markets. - Expects to launch new Mobile Health Services projects in 2025. - Continues to invest in R&D and technology to enhance customer experience.