DocGo Rejects Short Seller Report and Releases Preliminary 2024 Revenue Guidance

DocGo Inc. (“DocGo” or the “Company”) categorically rejects this purported assessment by Fuzzy Panda Research, an obscure short seller motivated solely by profit. Their so-called “research report” uses what appears to be old, public information to present an overall picture of DocGo and its business that is false, misleading and defamatory, and we intend to issue a cease-and-desist letter to the firm and are exploring all available legal means to respond. We believe this short seller is focused on personal financial gain at the expense of DocGo’s shareholders, employees, customers and other stakeholders.

In stark contrast to the implications contained in this inflammatory and misleading “report,” DocGo’s business continues to grow. The Company’s revenue for fiscal year 2023 is expected to be between $615 million and $625 million, in line with the Company’s previously released guidance. DocGo further expects revenue in 2024 to exceed $700 million. More specific guidance will be provided when the Company releases its Q4 2023 and full year 2023 results in February.

Several of the most glaring inaccuracies in the “report” include:

• The claims made in the “ABC” liquidation in California are not liabilities of the Company and do not accurately reflect the former liabilities of the liquidated entity.
• In response to allegations about our billing practices, DocGo maintains a comprehensive internal compliance program (including the internal review of claims) and is routinely audited by outside agencies. We are very proud of our quality assurance and oversight.
• The “report” incorrectly states that DocGo’s revenue is going to dramatically decline in 2024 due to the expiration of certain contracts with the City of New York when, in fact, DocGo is projecting an increase in revenue for fiscal year 2024 due to our multiple contracts with municipalities, healthcare systems and payors across the country and in the UK.

We appreciate the continued support of our partners and investors and look forward to a bright future.

About DocGo

DocGo is leading the proactive healthcare revolution with an innovative care delivery platform that includes mobile health services, remote patient monitoring and ambulance services. DocGo disrupts the traditional four-wall healthcare system by providing high quality, highly affordable care to patients where and when they need it. DocGo's proprietary, AI-powered 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 tandem with a remote physician, 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 docgo.com.