5/8/2023

speaker
Teleconference Operator
Moderator/Operator

Greetings and welcome to the DocGo first quarter 2023 earnings conference call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Mike Cole, Director of Investor Relations. Please go ahead.

speaker
Mike Cole
Director of Investor Relations

Thank you, operator. Before turning the call over to management, I would like to make the following remarks concerning forward-looking statements. All statements in this conference call, other than historical facts, are forward-looking statements. The words anticipate, aim, believe, estimate, expect, intend, guidance, confidence, target, project, and other similar expressions are used to typically identify such forward-looking statements. These forward-looking statements are not guarantees of future performance and may involve and are subject to certain risks and uncertainties and other factors that may affect DACA's business, financial condition, and other operating results. These include but are not limited to the risk factors and other qualifications contained in DACA's annual report and Form 10-K, quarterly reports filed on Form 10-Q, and other reports and statements filed by DACA with the SEC to which your attention is directed. Actual outcomes and results may differ materially from what is expressed or implied by these forward-looking statements. In addition, today's call contains references to non-GAAP financial measures. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are provided directly as part of this call or included in our earnings, which is posted on our website, dot go dot com, as well as in our filings with the Securities and Exchange Commission. The information contained in this call is accurate as of only the date discussed. Investors should not assume the statements will remain relevant and operative at a later time. We undertake no obligation to update any information discussed in this call in the future. At this time, it is now my pleasure to turn the call over to Mr. Anthony Capone, CEO of DocGill. Anthony, please go ahead.

speaker
Anthony Capone
CEO

Thank you, Mike. And thank you all very much for joining us today. We had an extremely busy first quarter as we launched multiple new projects late in the quarter that came with challenging logistical timelines. I am pleased to report those launches have gone extremely well and we are ramping on or ahead of schedule. Demand for doc goes services has never been greater due primarily to the rapidly increasing need for population health services across the United States. During the first quarter, we generated $113 million of revenue, a decline year over year of 4%. However, If you include mass COVID testing, to exclude mass COVID testing from that comparison, we grew revenues by 40% year over year. We have put in place a great foundation for the future and we expect recent project launches to drive significant sequential gains in both revenue and adjusted EBITDA in the coming quarters. With the first quarter in hand, we are reiterating our guidance of $500 to $510 million in revenue and $45 to $50 million in adjusted EBITDA for 2023. At this time, I'm going to hand it over to Lee Beanstock, our President and COO, to talk about some of our operational highlights during the quarter. Lee, please go ahead.

Disclaimer

This conference call transcript was computer generated and almost certianly contains errors. This transcript is provided for information purposes only.EarningsCall, LLC makes no representation about the accuracy of the aforementioned transcript, and you are cautioned not to place undue reliance on the information provided by the transcript.

-

-