DocGo (DCGO) Morgan Stanley 22nd Annual Global Healthcare Conference summary

Business overview and growth

• Operates 1,000 mobile units daily across 30 U.S. states and the U.K., with 7,000 clinicians serving hospitals, municipalities, and health plans.

• 2023 revenue guidance is $600–$650 million, with $65–$75 million in Adjusted EBITDA and increased cash flow guidance to $80–$90 million.

• Q2 revenue reached $165 million, up 30% year-over-year, with $17.2 million in Adjusted EBITDA.

• Mobile health constitutes 75% of business, focusing on in-home care and care gap closures for at-risk populations.

• Medical transportation, about 25% of business, serves as an entry point for hospital partnerships and cross-selling.

Technology and operational efficiency

• Proprietary tech platform optimizes clinician deployment, vehicle use, and patient scheduling for efficiency and profitability.

• Integration with Epic and other EHRs enables seamless referrals and real-time tracking for partners and patients.

• Unified tech stack and shared infrastructure across business lines drive economies of scale and operational synergies.

• Vertically integrated with in-house clinicians, vehicles, pharmacy, and technology.

• Seven years invested in building the tech stack, enabling high-quality, scalable, and profitable service delivery.

Market strategy and expansion

• Expansion into new markets is driven by anchor customers, such as health plans or hospital systems requesting services in new regions.

• Recent expansions include Connecticut, Dallas, and Northern California, with further scaling after initial entry.

• RFP submissions have tripled, with a focus on multi-year, apolitical, tech-driven population health programs.

• Sales cycles vary: 6–12 months for insurance, 3–6 months for medical transport, and variable for municipal contracts.

• Growth pipeline is actively managed, with expected value assigned to each opportunity for forecasting.