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© 2 0 2 5 A l l R i g h t s R e s e r ve d – D o c Go High quality, highly accessible healthcare For all
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Disclaimer This presentation is being delivered solely for informational purposes. No representation or warranty, express or implied, is made by DocGo, its affiliates, or any of their respective directors, officers, shareholders, members, partners or representatives as to the accuracy or completeness of any information in this presentation. Except where otherwise indicated, this presentation speaks as of the date hereof and is necessarily based upon the information as of the date hereof, all of which is subject to change. DocGo has no obligation to update, review or reaffirm this presentation. Nothing contained in this presentation is, or shall be relied upon as, a promise or representation as to the past, present or future. Forward Looking Statements This presentation 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 DocGo, including DocGo’s provision of services and the benefits of such services; DocGo’s growth and the expansion of DocGo’s care gap closure and other programs; current and future business opportunities; and M&A activity. These statements are based on the beliefs and assumptions of DocGo’s management. Although DocGo believes that its plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, DocGo 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. In some cases, these statements may be preceded by, followed by or include the words “believes,” “estimates,” “expects,” “projects,” “forecasts,” “may,” “might,” “will,” “should,” “could,” “can,” “would,” “design,” “potential,” “seeks,” “plans,” “scheduled,” “anticipates,” “intends” or the negative of these terms or similar expressions. Forward-looking statements are inherently subject to substantial risks, uncertainties and assumptions, many of which are beyond DocGo’s control, and which may cause DocGo’s actual results or outcomes, or the timing of results or outcomes, to differ materially from those contained in DocGo’s forward- looking statements, including, but not limited to the following: DocGo’s ability to successfully to deliver on its business strategies or models, plans and goals, including the expansion of its programs with hospital systems, payers, providers, municipalities and other strategic partners; DocGo’s ability to establish, maintain and grow customer relationships; DocGo’s ability to execute projects to the satisfaction of its customers; DocGo’s ability to maintain or grow its cash balances; DocGo’s ability to compete effectively in a highly competitive industry; DocGo’s ability to effectively manage its growth; DocGo’s financial performance and future prospects; DocGo’s ability to expand geographically; DocGo’s M&A activity and the success of its acquisition strategy; overall macroeconomic and geopolitical conditions; potential changes in federal, state or local government policies or priorities; legislative and regulatory actions; the impact of legal proceedings and compliance risk; the impact on DocGo’s 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; DocGo’s ability to comply with laws and regulations regarding data privacy and protection; and other risk factors included in DocGo’s filings with the Securities and Exchange Commission. Moreover, DocGo operates in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible for DocGo to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this presentation. In addition, statements preceded by “we believe” and similar statements reflect DocGo’s beliefs and opinions on the relevant subject. These statements are based on information available to DocGo as of the date of this presentation, and, while DocGo believes that information provides a reasonable basis for these statements, that information may be limited or incomplete. DocGo’s statements should not be read to indicate that DocGo has conducted an exhaustive inquiry into, or review of, all relevant information. These statements are inherently uncertain, and investors are cautioned not to unduly rely on these statements. The forward-looking statements made in this presentation are based on events or circumstances as of the date on which the statements are made. DocGo undertakes no obligation to update any forward-looking statements made in this presentation to reflect events or circumstances after the date of this presentation or to reflect new information or the occurrence of unanticipated events, except as and to the extent required by law. DocGo may not actually achieve the plans, intentions, or expectations disclosed in its forward-looking statements. DocGo’s forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures, or investments. Non-GAAP Financial Information This presentation includes references to financial measures that are calculated and presented on the basis of methodologies other than in accordance with generally accepted accounting principles in the United States of America (“GAAP”), such as Adjusted Earnings Before Interest, Tax, Depreciation and Amortization (“Adjusted EBITDA”) and adjusted gross margin. DocGo 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 presentation 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 inthis presentation. The non-GAAP financial measures in this presentation may differ from similarly titled measures used by other companies. A reconciliation of certain of these non-GAAP financial measures can be found in the Appendix to this presentation. Market and Industry Data Market data and industry data used throughout this presentation is based on information derived from third party sources, the knowledge of the DocGo management team regarding its industries and businesses and the DocGo management team’s good faith estimates. While management of DocGo believes that the third party sources from which market and industry data has been derived are reputable, DocGo has not independently verified such market and industry data, and you are cautioned not to give undue weight to such market and industry data. 2© 2 0 2 5 A l l R i g h t s R e s e r ve d – D o c Go
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LEADING PROVIDER OF TECH-DRIVEN MOBILE CARE RAPIDLY GROWING CARE IN THE HOME BUSINESS The DocGO Thesis FOUNDATIONAL, EXPANDING MEDICAL TRANSPORT BUSINESS PROPRIETARY TECHNOLOGY BACKBONE MASSIVE EXPANDING TAM VISIONARY LEADERSHIP TEAM STRONG BALANCE SHEET & RESOURCES TO SUPPORT GROWTH 3
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A MISSION to Deliver healthcare at any address Our impact in 2024 Service lines Medical transportation Mobile health T echnology-powered, state-of-the-art fleet and skilled EMS professionals to provide medical transportation and management for health care systems. Innovative approach using upskilled clinicians to provide care in the comfort of a patient’s home, office or community setting. For payers, providers and municipal customers. DocGO is a Leading Provider of technology-enabled mobile healthcare, at unrivaled scale Key Metrics 3,000+ $265 Million ~900 87 4
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Strong core revenue growth and balance sheet DocGo has the resources to support continued business growth Annual Revenues 2021-2024 + 2025 Guidance Balance sheet highlights $0 $100,000,000 $200,000,000 $300,000,000 $400,000,000 $500,000,000 $600,000,000 $700,000,000 2021 2022 2023 2024 2025 Medical Transportation Payer and Provider Population Health Total assets TOTAL SHAREHOLDERS EQUITY SHARES OUTSTANDING BOOK VALUE / SHARE 5
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Improving Balance Sheet Quarterly Accounts Receivable, 2022-2025 Quarterly DSO (Days Sales Outstanding), 2022-2025 DocGo continues to convert accounts receivable to cash 0 20 40 60 80 100 120 140 160 180 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 0 50 100 150 200 250 300 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Total cash of $103.1M on3/31 /2 5 ,up from $58.9M on 3/31 /2 4 6© 2 0 2 5 A l l R i g h t s R e s e r ve d – D o c Go
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Q1 2025 Results & business highlights Total revenue Adjusted gross margin1 Adjusted ebitda1 loss Amount outstanding on line of credit Total cash Mobile health segment revenue Mobile health segment Adjusted gross margin1 Medical transportation segment revenue Medical transportation segment Adjusted gross margin1 • • • • • • 7
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The CDC estimates that 90% of the nation’s $4.5 trillion in annual health care expenditures are for people with chronic diseases and mental health conditions. This creates substantial challenges for payers and providers, and is helping drive demand for DocGo’s services. Chronic Disease is a massive U.s. healthcare issue 8© 2 0 2 5 A l l R i g h t s R e s e r ve d – D o c Go
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Tailored solutions for key segments Designed to treat chronic disease and help keep people out of the hospital Key Services: Gap closure, Primary Care provider Services, Virtual care management, population health, Medical Staffing Value Proposition Increase access to care by treating bedbound and unattributed patients, Lower total cost of care Key Services: Medical Transport, Transitional care management (TCM) Value Proposition Efficient, reliable transportation and digital management platform, ed readmission program savings 9© 2 0 2 5 A l l R i g h t s R e s e r ve d – D o c Go
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Segment Overview: MOBILE HEALTH Major customers include Total addressable market Potential size of U.s.at home car e market, according to McKinsey* 30% of PCP Market expected to shift to nonTraditio na lproviders, according to Ba in & co** 10© 2 0 2 5 A l l R i g h t s R e s e r ve d – D o c Go $265 Billion
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On-Site Clinical Staff ▪ ▪ ▪ ▪ Cost-effective clinical service delivery Remote Clinical Staff ▪ ▪ ▪ ▪ BENEFITSSERVICE DELIVERY Our care delivery model pairs Lower-cost field clinicians directed by higher-cost virtual APPs 11© 2 0 2 5 A l l R i g h t s R e s e r ve d – D o c Go
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COMPREHENSIVE MOBILE HEALTH PLATFORM • • • • • • • • • • • • • • • • • • • • • • • To meet a wide range of clinical needs and improve access to care 12© 2 0 2 5 A l l R i g h t s R e s e r ve d – D o c Go
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Segment Overview: Medical Transportation Total addressable market $7-$13 billion Major customers include * 13© 2 0 2 5 A l l R i g h t s R e s e r ve d – D o c Go
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proprietary mobile health management platform Modern Architecture and Design ▪ ▪ ▪ ▪ ▪ ▪ optimizing 500+ units in the field each day 14© 2 0 2 5 A l l R i g h t s R e s e r ve d – D o c Go
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growth in key metrics with increases anticipated due to strong demand for medical transport and care in the home 15 Patients Assigned for Gap Closure & TCM Gap Closure & TCM Visits Completed PCP Visits Completed Mobile Phlebotomy Visits *’24-’26 CAGR Medical transportation trips1 © 2 0 2 5 A l l R i g h t s R e s e r ve d – D o c Go © 2 0 2 5 A l l R i g h t s R e s e r ve d – D o c Go
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Norm Rosenberg ▪ ▪ ▪ ▪ Chief Executive Officer Lee Bienstock Stephen Sugrue Chief Compliance Officer Ahron Weiner Chief Marketing Officer Ely Tendler General Counsel Andre Oberholzer EVP of Strategy Rosemarie Milano SVP, Human Resources Hawk Newton Chief Technology Officer▪ ▪ ▪ Chair of the Board Dr. Stephen klasko Dr. James Powell CEO, Clinical Practice Group ▪ ▪ ▪ Experienced LEADERSHIP Team © 2 0 2 5 A l l R i g h t s R e s e r ve d – D o c Go 16
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Proprietary Technology AND EMR Integrations Laboratory License Clinical Practice Group Medicare AND Managed Care Credentials Vertical integration creates our Competitive Moat 17© 2 0 2 5 A l l R i g h t s R e s e r ve d – D o c Go Rapidly deployable staff AND purpose-built fleet
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Why DocGo? We are unique in comprehensive care delivery. 18
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Growth drivers Legacy Customers REDucing Hospitalization Payer PROGRAMS VIRTUAL CARE MANAGEMENT RObust pipeline M&A Channel 19© 2 0 2 5 A l l R i g h t s R e s e r ve d – D o c Go
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Key Takeaways 20© 2 0 2 5 A l l R i g h t s R e s e r ve d – D o c Go
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Where homebound PATIENTS benefit from onsite treatment, we go. Where long waits in busy emergency rooms do more harm than good, we go. Where underserved populations need better care, we go. Where basic telehealth providers stop, we go. And when all reason says it can’t be done, leave well enough alone and quit while you’re ahead, we do what our company has always done. We go. © 2 0 2 5 A l l R i g h t s R e s e r ve d – D o c Go
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APPENDIX: Reconciliation of Non-GAAP Measures © 2 0 2 5 A l l R i g h t s R e s e r ve d – D o c Go The table below reflects the reconciliation of net income (loss) to adjusted EBITDA for the three months ended March 31, 2025 compared to the same period in 2024 (in millions): The table below reflects the reconciliation of GAAP gross margin and adjusted gross margin for the three months ended March 31, 2025 compared to the same period in 2024 (in millions): 23