DocGo (DCGO) Announces $40M Share Buyback

DocGo (Nasdaq: DCGO) announced today that its Board of Directors has authorized a share repurchase program pursuant to which the Company may purchase up to $40 million of its Common Stock.

“DocGo continues to revolutionize the delivery of healthcare, and this announcement demonstrates our confidence in the company's future,” said Stan Vashovsky Co-Founder and CEO of DocGo. “DocGo is not only growing revenues rapidly, but also generating substantial free cash flow and based on our current valuation, the Board believes the repurchase of shares is prudent. With a strong balance sheet, including $199 million in cash, cash equivalents and restricted cash, we will continue to look for opportunities to enhance shareholder value.”

Under the terms of the repurchase program, DocGo may purchase shares of its Common Stock on a discretionary basis from time to time through open market repurchases, privately negotiated transactions, or other means, including through Rule 10b5-1 trading plans. Citigroup Global Markets Inc. will serve as DocGo’s broker-dealer for the repurchase program.

The timing and actual number of shares repurchased will depend on a variety of factors, including stock price, trading volume, market conditions, corporate and regulatory requirements, and other general business considerations. The repurchase program will expire on November 24th, 2023, and may be modified, suspended, or discontinued at any time without prior notice.

Repurchases under this program will be funded from DocGo's existing cash and cash equivalents or future cash flow.

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