Doctor Care Anywhere has reported its first profitable year, driven by a 6.5% revenue growth and improved margins, setting the stage for accelerated growth in 2026. The telehealth provider reaffirms ambitious medium-term targets amid operational enhancements and new clinical pathways.
- First positive net profit of £1.2m with EPS of 0.31p in FY25
- Underlying revenue growth of 6.5%, with consultation volumes rising 3.4% in H2
- Contribution margin improved to 43.5%, underlying EBITDA rose to £5.3m (13.9% margin)
- Strong cash generation of £2.2m, closing cash balance at £6.6m
- Management reaffirms medium-term targets: doubling revenue in 3-5 years and 15% EBITDA margin
A Turning Point for Doctor Care Anywhere
Doctor Care Anywhere Group PLC (ASX:DOC) has delivered a transformational financial performance for the year ended 31 December 2025, marking its first profitable year since listing. The UK-based telehealth provider reported a net profit of £1.2 million, a significant turnaround from a loss of £6.3 million in 2024, alongside an earnings per share (EPS) of 0.31p. This milestone reflects the company’s successful execution of strategic initiatives under new CEO Laura O’Riordan, who took the helm in 2025.
Revenue Growth and Margin Expansion
Underlying revenue grew by 6.5% to £38 million, driven by a return to consultation volume growth in the second half of the year, which increased by 3.4%. This rebound was achieved despite the phased closure of a secondary care pathway in 2024, which had previously contributed to consultation volumes. The company’s contribution margin improved markedly to 43.5%, up 5.2 percentage points from the prior year, supported by price increases, an expanded clinical mix including new mental health and physiotherapy services, and operational efficiencies.
Underlying EBITDA surged to £5.3 million, representing a 13.9% margin, compared to near breakeven in 2024. This improvement was bolstered by cost-saving measures and a restructuring programme that reduced non-operating costs by 17%. The company’s strong cash generation of £2.2 million helped close the year with a cash balance of £6.6 million, providing a solid financial foundation for future growth.
Operational Highlights and Strategic Progress
Operationally, Doctor Care Anywhere expanded its clinical capabilities by adding mental health practitioners and physiotherapists, enhancing patient access and lowering costs. The platform’s activated lives increased by nearly 8% to over 1.27 million, indicating strong user engagement. New clinical treatment pathways were launched in mental health, musculoskeletal (MSK) care, and skin cancer, while product improvements reduced booking times by over 70%, enhancing the patient experience.
New client wins, including Biffa, Osborne Clark, and Good Oaks Home Care, demonstrate growing market traction. The company also successfully delivered its transformation programme, driving cost reductions and margin efficiencies without compromising care quality.
Looking Ahead: Growth and Guidance
Management reaffirmed its medium-term targets, aiming to double revenue over the next three to five years and achieve a 15% EBITDA margin. The convertible loan facility of £10.6 million remains in place with no repayments due until the end of 2027, supporting the company’s growth strategy. CEO Laura O’Riordan expressed confidence in building on the momentum of 2025, focusing on deepening partnerships, accelerating innovation, and maintaining high-quality care.
While the results are unaudited and subject to final adjustments, the clear step-change in profitability and operational progress positions Doctor Care Anywhere as a compelling player in the evolving telehealth sector. Investors will be watching closely to see if the company can sustain this trajectory amid competitive and regulatory challenges.
Bottom Line?
Doctor Care Anywhere’s first profitable year sets a promising stage, but sustaining growth and margin expansion will be key tests in 2026 and beyond.
Questions in the middle?
- Can Doctor Care Anywhere maintain consultation volume growth amid evolving healthcare demands?
- What impact will further technology investments have on cost efficiencies and patient outcomes?
- How will the company navigate competitive pressures and regulatory changes in the telehealth market?