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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

 

FORM 8-K

 

 

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): August 8, 2022

 

DOCGO INC. 

(Exact name of registrant as specified in its charter)

 

Delaware   001-39618   85-2515483
(State or other jurisdiction
of incorporation)
  (Commission File Number)   (IRS Employer
Identification No.)

 

35 West 35th Street, Floor 6, New York, New York  

10001

(Address of principal executive offices)   (Zip Code)

 

(844) 443-6246

(Registrant’s telephone number, including area code)

 

N/A

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class  

Trading Symbol(s)

 

Name of each exchange on which registered

Common stock, par value $0.0001 per share   DCGO   The Nasdaq Stock Market LLC
Warrants, each exercisable for one share of common stock at an exercise price of $11.50 per share   DCGOW   The Nasdaq Stock Market LLC

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). 

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  

 

 

 

 

 

 

Item 2.02 Results of Operations and Financial Condition

 

On August 8, 2022, DocGo Inc. (the “Company”) issued a press release that announced earnings results for the quarter ended June 30, 2022. This press release is furnished as Exhibit 99.1 to this report.

 

The information in Item 2.02 of this report and the exhibit attached hereto is being furnished and shall not be deemed “filed” for purposes of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor shall it be deemed incorporated by reference into any registration statement or other filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference to such filing.

 

Item 9.01 Financial Statements and Exhibits

 

(d) Exhibits

 

Exhibit No.   Description
99.1   Press release of DocGo Inc. dated August 8, 2022  
104   Cover Page Interactive Data File (formatted as Inline XBRL)

 

1

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  DOCGO INC.
     
  By:/s/ Andre Oberholzer
    Name: Andre Oberholzer
    Title: Chief Financial Officer

 

Date: August 8, 2022

 

 

2

 

Exhibit 99.1

 

 

DocGo Announces Strong Second Quarter 2022 Results

 

Q2 Revenue of $109.5 Million Up 76% Year-Over-Year; Company Raises Full-Year 2022 Guidance

 

NEW YORK, NY, August 8, 2022 - DocGo Inc. (Nasdaq: DCGO), a leading provider of last-mile mobile health services, today announced financial and operating results for the second quarter ending June 30, 2022.

 

Second Quarter Financial Highlights

 

Total revenue increased to $109.5 million compared to $62.2 million in Q2 2021, an increase of 76%.

 

Gross margin improved to 35.9% compared to 34.0% in Q2 2021.

 

Net income increased to $11.8 million, compared to $0.1 million in Q2 2021.

 

Adjusted EBITDA1, a non-GAAP measure, increased to $12.3 million compared to $3.4 million in Q2 2021.

 

Mobile Health revenue was $87.3 million compared to $33.2 million in Q2 2021, an increase of 163% year over year.

 

Recurring Transportation Services revenue increased to $20.2 million compared to $18.7 million in Q2 2021, an increase of 8%. Total Transportation Services revenue, which include project-based, emergency deployment revenues, was $22.2 million in Q2 2022 compared to $28.9 million in Q2 2021.

 

Mass Covid testing-related revenues during the period is estimated to be approximately $28 million.

 

Six-month revenues through June 30, 2022 increased to $227.4 million, compared to $111.6 million in the same period in 2021, an increase of 104%.

 

Six-month net income through June 30, 2022 amounted to $21.1 million, compared to a net loss of $1.9 million in the six months ended June 30, 2022.

 

Six-month Adjusted EBITDA1 through June 30, 2022 increased to $25.9 million, compared to $3.8 million in the same period in 2021, an increase of 582%.

 

Total cash and cash equivalents at the end of the period were $208.4 million, an increase from $198.7 million at the end of Q1 and an increase from $179.1 million at 2021 year end.

 

 

1Adjusted EBITDA is a non-GAAP financial measure. See “Non-GAAP Financial Measures” below for additional information on this non-GAAP financial measure and a reconciliation to the most comparable GAAP measure.

 

  

 

 

Guidance Update for Fiscal 2022

 

Revenue guidance is increased to $425-$435 million, up from a previous range of $400-$420 million.

 

Adjusted EBITDA2 guidance is increased to $40-$45 million, up from a previous range of $35-$41 million.

 

Guidance increase is based on both continued organic growth and incremental M&A activities which occurred subsequent to quarter end.

 

Select Corporate Highlights

 

Selected for inclusion in the Russell 2000®Index.

 

Approved a $40 million share repurchase program.

 

Expanded mobile health services with Carnival Corporation to offer on-ship care at eight new ports in the U.S., Canada, England and Australia.

 

Executed a contract with L.A. Care Health Plan to facilitate mobile health services to Medicare and Medicaid populations in Los Angeles. Slated to launch in August, this relationship enables DocGo to reach eligible L.A. Care members with its range of mobile health services, including preventive, episodic and chronic care services, along with the ability to close gaps in care, among others.

 

Executed a multi-year contract to provide mobile health services to Empire BlueCross BlueShield members, covering commercial, Medicare and Medicaid populations in New York and the Medicaid population in New Jersey.

 

Major hospital system in southern California contracted with DocGo to provide at-home patient visits, resulting in a 35% reduction in unnecessary emergency room visits and a bonus payment to DocGo for facilitating such reduction.

 

DocGo continues to aggressively expand its workforce to support future growth and is expected to add 600+ full time clinical and operational positions in the second half of the year.

 

Stan Vashovsky, CEO of DocGo, commented, “our customers are consistently returning to DocGo for assistance with their healthcare needs and our unique, tech-enabled approach to delivering cost-effective healthcare outside of traditional brick and mortar facilities is unparalleled.” Vashovsky continued, “our quarter came in ahead of internal expectations and we anticipate contributions from new business wins across the spectrum, including three new national payer contracts and six new hospital contracts, will more than offset the wind down of mass Covid testing revenue going forward. In addition, DocGo won three large municipal RFPs, added one new international cruise line customer and expanded into two new states. Given the strength of our balance sheet, with over $200 million in total cash, we expect to remain active in pursuing synergistic M&A opportunities while also funding organic growth and other capital deployment activities, including our share repurchase program.”

 

******

 

2Adjusted EBITDA is a non-GAAP financial measure. We have not reconciled Adjusted EBITDA outlook to the most comparable GAAP outlook because it is not possible to do so without unreasonable efforts due to the uncertainty and potential variability of reconciling items, which are dependent on future events and often outside of management’s control and which could be significant. Because such items cannot be reasonably predicted with the level of precision required, we are unable to provide outlook for the comparable GAAP measure (net income). Forward- looking estimates of Adjusted EBITDA are made in a manner consistent with the relevant definitions and assumptions noted herein.

 

 2 

 

 

Conference call and webcast

 

DocGo management will host a conference call and webcast to discuss the second quarter results tomorrow, August 9th at 8:30 am ET. To access the conference call, please dial 1-877-407-0784 (U.S.) or 1-201-689-8560 (international). Reference conference ID 13730613.

 

The webcast can be accessed using the following link:

https://viavid.webcasts.com/starthere.jsp?ei=1554870&tp_key=f93a5a0c42 or under “Events” on the “Investors” section of the Company’s website, https://ir.docgo.com/. A replay of the webcast will be archived on the Company’s investor relations page through August 23, 2022 at approximately 5:00 pm ET.

 

About DocGo

 

DocGo is a leading provider of last-mile mobile health services. DocGo is disrupting the traditional four-wall healthcare system by providing care to patients where and when they need it. DocGo's innovative technology and dedicated field staff of certified health professionals elevate the quality of patient care and drive business efficiencies for facilities, hospital networks, and health insurance providers. With Mobile Health, DocGo empowers the full promise and potential of telehealth by facilitating healthcare treatment in the comfort of a patient's home or workplace. Together with DocGo's integrated Ambulnz medical transport services, DocGo is bridging the gap between physical and virtual care. For more information, please visit www.docgo.com.

 

Forward-Looking Statements

 

This announcement contains forward-looking statements (including within the meaning of Section 21E of the U.S. Securities Exchange Act of 1934, as amended, and Section 27A of the U.S. Securities Act of 1933, as amended) concerning DocGo. These statements include, but are not limited to, statements that address our expected future business and financial performance and statements about (i) our plans, objectives and intentions with respect to future operations, services and products, including our transition to non-COVID related services, geographic expansion, new and existing contracts, M&A activity, workforce growth and share repurchase program, (ii) our competitive position and opportunities, including our ability to realize the benefits from our operating model, and (iii) other statements identified by words such as "may", "will", "expect", "intend", "plan", "potential", "believe", "seek", "could", "estimate", "judgment", "targeting", "should", "anticipate", "predict" "project", "aim", "goal", "outlook", "guidance", and similar words, phrases or expressions. These forward-looking statements are based on management's current expectations and beliefs, as well as assumptions made by, and information currently available to, management, and current market trends and conditions. Forward-looking statements inherently involve risks and uncertainties, many of which are beyond our control, and which may cause actual results to differ materially from those contained in our forward-looking statements. Accordingly, you should not place undue reliance on such statements. Particular uncertainties that could materially affect current or future results include possible accounting adjustments made in the process of finalizing reported financial results; any risks associated with global economic conditions and concerns; the effects of global outbreaks of pandemics or contagious diseases or fear of such outbreaks, such as the COVID-19 coronavirus pandemic; competitive pressures; pricing declines; rates of growth in our target markets; our ability to improve gross margins; cost-containment measures; legislative and regulatory actions; the impact of legal proceedings and compliance risks; the impact on our business and reputation in the event of information technology system failures, network disruptions, cyber-attacks, or losses or unauthorized access to, or release of, confidential information; and the ability of the company to comply with laws and regulations regarding data privacy and protection. We undertake no intent or obligation to publicly update or revise any of these forward-looking statements, whether as a result of new information, future events or otherwise.

 

 3 

 

 

Non-GAAP Financial Measures

 

The following information provides definition and reconciliation of the non-GAAP financial measure presented in this earnings release to the most directly comparable financial measure calculated and presented in accordance with generally accepted accounting principles (GAAP). 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 measure 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 measure in this earnings release may differ from similarly titled measures used by other companies.

 

Adjusted EBITDA

 

Adjusted EBITDA is considered a non-GAAP financial measure under the Securities and Exchange Commission’s (“SEC”) rules because it excludes certain amounts included in net income (loss) calculated in accordance with GAAP. Management believes that Adjusted EBITDA is a meaningful measure to share with investors because it facilitates comparison of the current period performance with that of the comparable prior period. In addition, Adjusted EBITDA affords investors a view of what management considers to be the Company’s core operating performance as well as the ability to make a more informed assessment of such operating performance as compared with that of the prior period.

 

The table below reflects the reconciliation of Net Income (Loss) to Adjusted EBITDA for the three and six months ended June 30, 2022 compared to the same periods in 2021 (in millions):

 

   Q2   YTD 
   2021   2022   2021   2022 
Net Income/(loss) (GAAP)  $0.1   $11.8   ($1.9)  $21.1 
(+) Net Interest expense/ (income)  $0.2   ($0.1)  $0.2   $0.0 
(+) Income Tax  $0.0   $0.3   $0.0   $0.8 
(+) Depreciation & amortization  $1.9   $2.0   $3.5   $4.2 
(-) Other income/gain  $0.0   ($4.5)  $0.0   ($4.4)
EBITDA  $2.2   $9.5   $1.8   $21.7 
                     
(+) Non-cash stock compensation  $0.4   $2.0   $0.8   $3.4 
(+) Non-recurring expense  $0.8   $0.8   $1.2   $0.8 
                     
Adjusted EBITDA  $3.4   $12.3   $3.8   $25.9 

 

 

 4 

 

 

DocGo Inc. and Subsidiaries

CONDENSED CONSOLIDATED BALANCE SHEETS

 

   June 30,   December 31, 
   2022   2021 
   Unaudited   Audited 
ASSETS        
         
Current assets:        
Cash and cash equivalents  $198,138,395   $175,537,221 
Accounts receivable, net of allowance of $7,047,958 and $7,377,389 as of June 30, 2022 and December 31, 2021, respectively   72,253,831    78,383,614 
Prepaid expenses and other current assets   5,285,303    2,111,656 
Total current assets   275,677,529    256,032,491 
           
Property and equipment, net   12,229,997    12,733,889 
Intangibles, net   10,415,401    10,678,049 
Goodwill   8,686,966    8,686,966 
Restricted cash   10,323,088    3,568,509 
Operating lease right-of-use assets   3,812,085    4,195,682 
Finance lease right-of-use assets   8,408,399    9,307,113 
Equity method investment   619,348    589,058 
Other assets   1,682,575    3,810,895 
Total assets  $331,855,388   $309,602,652 
           
LIABILITIES AND STOCKHOLDERS’ EQUITY          
           
Current liabilities:          
Accounts payable  $12,915,952   $15,833,970 
Accrued liabilities   38,656,519    35,110,877 
Line of credit   1,025,881    25,881 
Notes payable, current   566,426    600,449 
Due to seller   694,331    1,571,419 
Operating lease liability, current   1,421,036    1,461,335 
Finance lease liability, current   2,655,037    3,271,990 
Total current liabilities   57,935,182    57,875,921 
           
Notes payable, non-current   1,048,864    1,302,839 
Operating lease liability, non-current   2,651,849    2,980,946 
Finance lease liability, non-current   5,276,312    6,867,420 
Warrant liabilities   10,549,485    13,518,502 
Total liabilities   77,461,692    82,545,628 
           
Commitments and Contingencies          
           
STOCKHOLDERS’ EQUITY:          
Common stock ($0.0001 par value; 500,000,000 shares authorized as of June 30, 2022 and December 31, 2021; 100,685,290 and 100,133,953 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively)   10,564    10,013 
Additional paid-in-capital   287,301,467    283,161,216 
Accumulated deficit   (40,191,367)   (63,556,714)
Accumulated other comprehensive loss   (27,930)   (32,501)
Total stockholders’ equity attributable to DocGo Inc. and Subsidiaries   247,092,734    219,582,014 
Noncontrolling interests   7,300,962    7,475,010 
Total stockholders’ equity   254,393,696    227,057,024 
Total liabilities and stockholders’ equity  $331,855,388   $309,602,652 

 

 5 

 

 

DocGo Inc. and Subsidiaries

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND

COMPREHENSIVE INCOME (LOSS)

 

   Three Months Ended   Six Months Ended 
   June 30,   June 30, 
   2022   2021   2022   2021 
Revenue, net  $109,519,304   $62,185,997   $227,410,856   $111,555,391 
Expenses:                    
Cost of revenues (exclusive of depreciation and amortization, which is shown separately below)   70,176,462    41,023,082    148,164,035    76,883,824 
Operating expenses:                    
General and administrative   24,637,618    15,976,151    48,498,234    27,797,606 
Depreciation and amortization   2,037,771    1,897,051    4,238,792    3,494,727 
Legal and regulatory   3,061,276    1,176,711    4,409,259    1,833,369 
Technology and development   1,148,320    664,882    2,290,153    1,126,282 
Sales, advertising and marketing   1,000,100    1,189,361    2,258,061    2,034,781 
Total expenses   102,061,547    61,927,238    209,858,534    113,170,589 
Income (loss) from operations   7,457,757    258,759    17,552,322    (1,615,198)
                     
Other income (expenses):                    
Interest income (expense), net   98,276    (130,129)   (37,330)   (245,138)
Gain on remeasurement of warrant liabilities   3,027,766    -    2,969,017    - 
Gain on initial equity method investments   89,810    -    6,469    - 
Gain on remeasurement of finance leases   1,388,273    -    1,388,273    - 
Loss on disposal of fixed assets   -    (27,730)   -    (27,730)
Other income   15,640    -    11,387    - 
Total other income (expense)   4,619,765    (157,859)   4,337,816    (272,868)
                     
Net income (loss) before income tax benefit (expense)   12,077,522    100,900    21,890,138    (1,888,066)
Income tax benefit (expense)   (321,660)   1,107    (761,839)   (8,923)
Net income (loss)   11,755,862    102,007    21,128,299    (1,896,989)
Net income (loss) attributable to noncontrolling interests   (979,791)   1,748,223    (2,237,048)   1,427,591 
Net income (loss) attributable to stockholders of DocGo Inc. and Subsidiaries   12,735,653    (1,646,216)   23,365,347    (3,324,580)
Other comprehensive income (loss)                    
Foreign currency translation adjustment   10,434    94,655    4,571    102,653 
Total comprehensive gain (loss)  $12,746,087   $(1,551,561)  $23,369,918   $(3,221,927)
                     
Net income (loss) per share attributable to DocGo Inc. and Subsidiaries - Basic   0.13   $(18.19)  $0.23   $(36.73)
Weighted-average shares outstanding - Basic   99,303,948    90,505    100,372,146    90,505 
                     
Net income (loss) per share attributable to DocGo Inc. and Subsidiaries - Diluted  $0.11   $(18.19)  $0.2   $(36.73)
Weighted-average shares outstanding - Diluted   115,279,676    90,505    116,347,874    90,505 

 

 6 

 

 

DocGo Inc. and Subsidiaries

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

 

   Six Months Ended 
   June 30, 
   2022   2021 
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net income (loss)  $21,128,299   $(1,896,989)
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation of property and equipment   1,441,438    1,099,192 
Amortization of intangible assets   1,279,078    879,984 
Amortization of finance lease right-of-use assets   1,518,276    1,515,552 
Loss on disposal of assets   -    27,730 
Gain from equity method investment   (30,290)   - 
Bad debt expense   1,818,792    1,235,442 
Stock based compensation   3,504,861    761,534 
Gain on remeasurement of finance leases   (1,388,273)   - 
Gain on remeasurement of warrant liabilities   (2,969,017)   - 
Changes in operating assets and liabilities:          
Accounts receivable   4,310,990    (17,442,642)
Prepaid expenses and other current assets   (3,173,647)   (2,353,394)
Other assets   2,128,320    (90,647)
Accounts payable   (2,927,492)   2,791,050 
Accrued liabilities   3,545,642    12,327,795 
Net cash provided by (used in) operating activities   30,186,977    (1,145,393)
           
CASH FLOWS FROM INVESTING ACTIVITIES:          
Acquisition of property and equipment   (941,655)   (2,581,691)
Acquisition of intangibles   (1,016,430)   (1,023,643)
Proceeds from disposal of property and equipment   -    6,000 
Net cash used in investing activities   (1,958,085)   (3,599,334)
           
CASH FLOWS FROM FINANCING ACTIVITIES:          
Proceeds from revolving credit line   1,000,000    8,000,000 
Repayments of notes payable   (287,998)   (258,863)
Due to seller   (877,088)   - 
Noncontrolling interest contributions   2,063,000    333,025 
Proceeds from exercise of stock options   1,153,410    - 
Common stock repurchased   (497,899)   - 
Equity costs   (19,570)   - 
Payments on obligations under finance lease   (1,411,565)   (968,933)
Acquisition of businesses   -    (56,496)
Net cash provided by financing activities   1,122,290    7,048,733 
           
Effect of exchange rate changes on cash and cash equivalents   4,571    102,653 
           
Net increase in cash and restricted cash   29,355,753    2,406,659 
Cash and restricted cash at beginning of period   179,105,730    34,457,273 
Cash and restricted cash at end of period  $208,461,483   $36,863,932 

 

 7 

 

 

DocGo Inc. and Subsidiaries

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(CONTINUED)

 

   Six Months Ended
June 30,
 
   2022   2021 
Supplemental disclosure of cash and non-cash transactions:        
Cash paid for interest  $129,363   $28,816 
           
Cash paid for interest on finance lease liabilities  $222,649   $245,339 
           
Cash paid for income taxes  $761,839   $8,923 
           
Right-of-use assets obtained in exchange for lease liabilities  $2,192,946   $2,111,516 
           
Fixed assets acquired in exchange for notes payable  $-   $256,237 
           
Reconciliation of cash and restricted cash          
Cash  $198,138,395   $33,146,205 
           
Restricted Cash   10,323,088    3,717,727 
           
Total cash and restricted cash shown in statement of cash flows  $208,461,483   $36,863,932 

 

 8 

 

 

DocGo Inc. and Subsidiaries

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

 

   Three Months Ended
June 30,
 
   2022   2021 
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net income (loss)  $11,838,167   $102,007 
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation of property and equipment   729,560    570,352 
Amortization of intangible assets   645,715    457,960 
Amortization of finance lease right-of-use assets   662,495    868,740 
Loss on disposal of assets   -    27,730 
Gain from equity method investment   (99,285)   - 
Bad debt expense   664,557    556,602 
Stock based compensation   1,999,619    370,000 
Gain on remeasurement of finance leases   (1,388,273)   - 
Gain on remeasurement of warrant liabilities   (2,910,268)   - 
Changes in operating assets and liabilities:          
Accounts receivable   3,249,281    (10,303,967)
Prepaid expenses and other current assets   (1,636,097)   (231,851)
Other assets   (59,922)   22,737 
Accounts payable   (2,255,748)   3,374,413 
Accrued liabilities   482,494    4,424,059 
Net cash provided by (used in) operating activities   11,922,295    238,782 
           
CASH FLOWS FROM INVESTING ACTIVITIES:          
Acquisition of property and equipment   (339,239)   (1,821,642)
Acquisition of intangibles   (481,806)   (508,397)
Proceeds from disposal of property and equipment   -    6,759 
Net cash used in investing activities   (821,045)   (2,323,280)
           
CASH FLOWS FROM FINANCING ACTIVITIES:          
Proceeds from revolving credit line   -    8,000,000 
Repayments of notes payable   (149,847)   23,252 
Due to seller   (716,838)   - 
Noncontrolling interest contributions   -    - 
Proceeds from exercise of stock options   779,066    - 
Common stock repurchased   (497,899)   - 
Equity costs   -    - 
Payments on obligations under finance lease   (788,990)   (367,432)
Acquisition of businesses   -    (56,496)
Net cash provided by financing activities   (1,374,508)   7,599,324 
           
           
Effect of exchange rate changes on cash and cash equivalents   10,434    94,655 
           
Net increase in cash and restricted cash   9,737,176    5,609,481 
Cash and restricted cash at beginning of period   198,724,307    31,254,451 
Cash and restricted cash at end of period  $208,461,483   $36,863,932 

 

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   Three Months Ended   Six Months Ended 
   June 30,   June 30, 
   2022   2021   2022   2021 
Primary Geographical Markets                
U.S.  $106,314,813   $59,946,797   $221,368,244   $107,308,709 
U.K.   3,204,491    2,239,200    6,042,612    4,246,682 
Total revenue  $109,519,304   $62,185,997   $227,410,856   $111,555,391 
                     
Major Segments/Service Lines                    
Transportation Services  $22,175,233   $28,936,421   $49,987,743   $47,740,979 
Mobile Health   87,344,071    33,249,576    177,423,113    63,814,412 
Total revenue  $109,519,304   $62,185,997   $227,410,856   $111,555,391 

 

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Contacts

 

Media Contact:

 

Janine Warner

Crowe PR

docgo@crowepr.com

(646) 916-5314

 

Investor Contacts:

 

Steven Halper

LifeSci Advisors

shalper@lifesciadvisors.com

 

or

 

ir@docgo.com

646-876-6455

 

 

 

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