DocGo (DCGO) Morgan Stanley 24th Annual Global Healthcare Conference summary

Business overview and growth strategy

• Provides mobile health, medical transportation, and telehealth services across the U.S. and U.K., with 1 million annual telehealth visits and 700,000 patient transports in the past year.

• Focuses on chronic condition management, remote monitoring 55,000 patients, and in-home care for 150,000 patients annually.

• Integrated tech platform matches clinicians and diagnostics to patient needs, optimizing care delivery both virtually and in-person.

• Recent acquisitions, such as PTI and SteadyMD, have expanded capabilities in mobile phlebotomy and virtual care, with strong year-over-year revenue growth.

• Market expansion is driven by anchor customers and embedded demand, with a focus on achieving profitability in new geographies.

Profitability and financial targets

• Targets adjusted EBITDA positivity by year-end, with $240 million of projected 2026 revenue from currently EBITDA-positive business lines.

• Non-profitable service lines are being eliminated or redesigned, with ongoing efforts to optimize the portfolio.

• Plans to improve gross margin from 30.5% to 34% by exiting or redesigning underperforming markets.

• SG&A reductions include a $3 million quarterly cut, aided by a recent reduction in force and automation initiatives.

• Expects to exit the year on a profitable run-rate basis, driven by top-line growth, margin improvement, and cost control.

Technology and operational efficiency

• Proprietary tech stack enables efficient routing, clinician assignment, and integration with EHR systems like Epic, streamlining referrals and transportation.

• Automation and AI are reducing administrative workload, with 80% of mobile phlebotomy order intake now automated.

• Ten automation initiatives are projected to save $6 million in SG&A, supporting scalable growth without proportional staff increases.

• Tech-enabled workflows improve patient readiness and hospital efficiency, increasing stickiness with hospital partners.