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DocMorris Q2 Revenue Jumps 15% on Surging German Prescription Sales
Swiss online pharmacy group DocMorris (SIX:DOCM) reported a significant acceleration in revenue growth for the second quarter, driven by strong demand for prescription medicines in Germany and rapid expansion in its digital services segment.
In a trading update on Wednesday, the company announced that external revenue grew 15.2% in local currency to 309.7 million Swiss francs ($383 million) for the April-June period. Reported revenue saw a 16.1% increase to 295.4 million francs.
Growth Driven by Core Markets
The performance was largely powered by the company's German operations. Key growth metrics from the quarter include:
- German prescription (Rx) revenue: Surged by 45.8%, marking an acceleration from the first quarter.
- Digital Services: Revenue from its TeleClinic, retail media, and marketplace businesses jumped 80% to 13.9 million francs.
- Customer Base: Grew by 1.1 million year-over-year to 12.9 million active customers.
AdThis growth in customer numbers was supported by a notable increase in new clients for prescription medicines, according to the company's statement.
Path to Profitability
DocMorris stated that the strong performance in its prescription medicine business keeps it "fully on track" to achieve its goal of reaching EBITDA breakeven during 2026. The company plans to provide updated full-year guidance with its half-year results on August 19.
This future guidance will incorporate the positive trading from the first half of the year and the impact of its new "AI-First" strategy. The company said this AI initiative is expected to deliver annual cost savings of at least 15 million francs.
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