Full-year 2024 adjusted EBITDA2 is now expected to be $70-$75 million, compared to the previous estimate of $65-$75 million. Full-year 2024 cash flow from operations is being increased to $90-$100 million, compared to the previous estimate of $80-$90 million. Norm Rosenberg, Chief Financial Officer of DocGo (DCGO), also commented, “We continued to see a significant increase in our cash balance and generated over $31 million in cash flow from operations during the period. Throughout 2023 and early 2024, we had a considerable working capital outlay to support our migrant related programs. As these programs wind down, we are seeing that trend reverse and are recognizing strong cash flow as a result which should continue over the coming quarters. Our strong balance sheet gives us the ability to support our growth initiatives, make additional share repurchases, fund new strategic relationships and repay our line of credit.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DCGO: