DocGo Inc.

Please stand by. Your program is about to begin. If you need assistance on today's conference, please press star zero. Good day, everyone, and welcome to the DOTCO Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, you will have the opportunity to ask questions during the question-and-answer session. You may register to ask a question at any time by pressing the star and one on your telephone keypad. You may withdraw yourself from the queue by pressing star two. Please note this call may be recorded. I'll be standing by if you should need any assistance. It is my pleasure to turn the program over to Mike Cole, Vice President 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 made in this conference call, other than statements of historical fact, are forward-looking statements. The words may, will, plan, potential, could, goal, outlook, design, anticipate, aim, believe, estimate, expect, intend, guidance, confidence, target, project, and other similar expressions may be used to identify such forward-looking statements. These forward-looking statements are not guarantees of future performance, and we cannot assure you that we will achieve or realize our plans, intentions, outcomes, results, or expectations. Forward-looking statements are inherently subject to substantial risks, uncertainties, and assumptions, many of which are beyond our control and which may cause our actual results or outcomes or the timing of results or outcomes to differ materially from those contained in our forward-looking statements. These risks, uncertainties, and assumptions include but are not limited to those discussed in our Risk Factors and Elsewhere in DOTCO's annual report on Form 10-K, quarterly reports on Form 10-Q, and other reports and statements filed by DOTCO with the SEC to which your attention is directed. Actual outcomes and results or the timing of results or outcomes 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 release or on the current report on Form 8K that includes our earnings release, which is posted on our website, dot go dot com, as well as filed with the SEC. The information contained in this call is accurate as of only the date discussed. Investors should not assume that statements will remain relative and operative at a later time. We undertake no obligation to update any information discussed in this call to reflect events or circumstances after the date of this call or to reflect new information or the occurrence of unanticipated events, except as to the extent required by law. At this time, it is now my pleasure to turn the call over to Mr. Lee Bienstock, CEO of DOTCO. Lee, please go ahead.

Thank you, Mike, and thank you all for joining us today. We had an excellent performance in the second quarter, recording $164.9 million in revenue and $17.2 million in adjusted EBITDA, driven by strong operational execution while also making substantial progress with new business development and cash collections. We are seeing a lot of momentum working through the sales pipeline. Early this year, we launched an initiative to specifically pursue dialogue with prospective partners across our three customer verticals, as well as partnership opportunities with virtual-only providers who want to utilize our in-person capability to complement their offerings. There is no doubt that the healthcare industry is increasingly looking for mobile delivery solutions to create greater access to care while lowering costs. Telemedicine has a number of advantages. but on a standalone basis, it also has significant limitations. The dialogue that we're having with these potential strategic partners revolves around DACCO's unique ability to deliver last mile physical care. We are seeing strong results from this effort with several new relationships in the contracting phase and others working their way through the sales pipeline. I'm really excited to share those opportunities with you as they mature. I'm also very proud of our operational execution in Q2. It was a significant undertaking to wind down the downstate migrant-related locations under our contract with HPD, but we did so seamlessly, and we concurrently began the process of rightsizing our cost structure accordingly. I think we did an exceptional job managing this process, and we expect to see margin improvement going forward as those rightsizing initiatives take hold. We also made significant progress during the quarter with our cash collections. Our cash flow from operations exceeded 35 million in Q2 of 2024, driving up our cash balance by more than 25 million relative to the end of Q1. I think it's important to note that the cash balance also reflects the fact that we repurchased approximately $5 million worth of DACO shares during the period and nearly $10 million since the start of 2024. We continue to work with our large municipal customers to try and normalize the payment process and expect continued strong cash flow from operations over the coming quarters. We expect this to give us the resources to further strengthen our balance sheet, support potential additional stock repurchases, and of course, continue to support the strong growth we project ahead. As a result, we are increasing our cash flow from operations guidance from 70 to 80 million to an updated range of 80 to 90 million for 2024. We also announced the establishment of a world-class medical advisory board, which includes a prominent group of physicians and specialists from leading national institutions. The advisory board will offer counsel and expertise on our clinical offerings and publish medical research on the impact of the company's programs on patient outcomes. We are excited to leverage their expertise to continue developing innovative healthcare solutions for those that need it most. As I usually do, I would now like to spend some time covering our three key customer verticals, payers and providers, hospital systems, and municipal population health. In our payer and provider customer vertical, we have had a flurry of recent contract wins with several of those opportunities having considerable room for expansion over time. One key leading indicator for this vertical is the number of patients DOTCO has been assigned for care gap closure services, and we have more than doubled that number on a sequential basis in Q2 over Q1. We are seeing strong results from these programs, and the customer ROI is becoming increasingly apparent. For example, one of our customers has observed a 50% reduction in all-cause readmissions for complex patients that receive our care post-discharge. In addition, our quality measure and care gap closure programs enable payers to maintain or improve quality ratings, which can further impact payer financials in a material way. During the second quarter, we added a top 10 payer in Southern California, and plans are in place to expand with that same customer in New York. Our work with hospital systems continues to perform well. We had new medical transport wins in New York and Delaware, with key extensions in New Jersey and the UK. Overall, we saw 13% revenue growth to date in 2024 compared to the first half of 2023, and we still expect medical transportation to grow in the neighborhood of 15% or more annually over the near term. We're in the final stages of contracting with one of the largest hospital networks in New Jersey for a mobile health program to provide physical and wellness checks to their enterprise customers located across the state and we're seeing increased interest from major health systems for our transitional care management mobile health offering, remote patient monitoring, virtual care management, and readmission reductions and more, all of which are designed to help keep patients out of the hospital and healthy in their homes. In our municipal population health vertical, we recently launched our first mobile x-ray program for the city of New York and are planning seasonal vaccination programs for clients in Texas, New York, and Washington, D.C. In addition, we want a project from the state of New Mexico to provide nursing care and mobile vaccination clinics, nursing call centers across the state, and behavioral health services for the New Mexico Behavioral Health Institute. Separately, we want a contract to provide x-ray technicians at multiple sites for a new customer in Arizona. And lastly, we're proud of the deep clinical expertise and mobile healthcare services we've provided as part of the humanitarian response in New York. In Q2 alone, our clinicians have facilitated over nearly 200,000 patient interactions on these programs. including 150,000 behavioral health encounters and nearly 50,000 medical encounters, including over 42,000 for intake and triage, 8,000 vaccinations, and 2,600 quantifier on blood tests. This is all in keeping with our historical municipal work bringing care to vulnerable patients across various public health initiatives for many populations. including uninsured individuals, the LGBTQ plus community, both sheltered and unsheltered homeless populations, and newly arrived asylum seekers outside of traditional medical settings. Collectively, we are performing in line with the guidance announced as part of last quarter's earnings relief and reaffirming our 2020-24 guidance of $600 to $650 million in revenue, and 65 to 75 million in adjusted EBITDA, while raising our cash flow from operations expectation to 80 to 90 million, up from 70 to 80 million. Additionally, we continue to expect revenues from our base business to show strong sequential growth in the second half of 2024 and be approximately 400 million in 2025. I want to reiterate that the 2025 revenue expectation in our base business is not overall revenue guidance for 2025, given we expect some migrant related revenues next year. I think one of the most important takeaways from the quarter would be the quality and quantity of new opportunities entering the pipeline. As we work with New York City to coordinate a taper down of migrant related work, it has freed up considerable bandwidth to pursue other opportunities. As I mentioned, Some of these opportunities are maturing to the contracting phase, and I expect multiple new programs to roll out in the second half of 2024. This will directly complement our traditional RFP channel and provide another conduit for growth. At the end of the day, we have the technology, logistical infrastructure, and balance sheet to offer large-scale, last-mile deployments with national healthcare providers, payers, hospitals, and municipalities. Combine that with the very broad scope of clinical services that DOTCO offers, and we feel we are in an excellent strategic position going forward. I will now hand over the call to Norm to cover the financials. Norm, please go ahead.