Doctor Care Anywhere (ASX:DOC) Reports 7.5% Rise in Consultations, Positive Cashflow Continues

Team Kalkine

29 October 2025 05:05 PM AEDT

Doctor Care Anywhere (ASX:DOC) Reports 7.5% Rise in Consultations, Positive Cashflow Continues

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Highlights

Consultations rose 7.5% year-on-year (excluding secondary care), driven by new service offerings.
Positive cashflow of GBP 0.6M (AUD 1.2M) sustained for a second consecutive quarter.
Cash balance stood at GBP 5.4M (AUD 11.0M) at 30 September 2025.

Doctor Care Anywhere Group PLC (ASX:DOC) released its quarterly activity report for the period ended 30 September 2025 (Q3 2025). The company reported continued operational progress, expansion in clinical services, and a second consecutive quarter of positive cashflow.

Consultations increased 7.5% year-on-year (excluding secondary care) following the introduction of new service offerings and digital platform enhancements. The business also maintained a positive net operating and investing cash inflow of GBP 0.6M (AUD 1.2M), compared with an outflow of GBP 0.9M (AUD 1.8M) in Q3 2024.

Expanding Patient Engagement

Activated Lives totalled 1.23 million at the end of Q3 2025, marking an 11.2% increase year-on-year, while total consultations reached 170,100, up 4.6% from Q3 2024. The company noted that the quarter-on-quarter decline of 3.4% reflected typical seasonal trends.

Repeat patients accounted for 74% of total consultations, increasing one percentage point quarter-on-quarter and three points year-on-year. Growth was supported by expanded access to physiotherapists and mental health practitioners, along with app improvements that reduced booking time.

Positive Cashflow Sustained

DOC recorded a net cash inflow of GBP 0.6M (AUD 1.2M) in Q3 2025, marking two consecutive quarters of positive cash generation. Receipts from customers totalled GBP 9.3M, supported by improved cost control and operational efficiency.

The company ended the quarter with GBP 5.4M (AUD 11.0M) in cash, compared with an inflow of GBP 2.2M in Q2 2025 and an outflow of GBP 0.9M in Q3 2024. Management noted that quarter-on-quarter changes reflected timing effects from customer receipts and annual subscription payments booked in the prior quarter.

New Digital Pathways

During Q3 2025, the company introduced new digital treatment pathways for Musculoskeletal, Skin Cancer, and Mental Health care. Pilot programs are underway, with wider rollouts planned following positive feedback.

DOC’s strategic review also identified weight management and preventive health assessments as emerging growth areas. These digital-first services are in development and expected to launch in Q4 2025 across consumer, corporate, and insurance channels.

Medium-Term Growth Vision

Management reaffirmed its medium-term guidance, targeting revenue of GBP 76M (AUD 156M) within three to five years—double its 2024 level—with an implied CAGR of over 12% and an EBITDA margin of 15%.

As of 30 September 2025, DOC had 366.7 million shares/CDIs on issue, a market capitalisation of AUD 49.51 million, and GBP 10.6M (AUD 21.6M) in convertible loan debt maturing in January 2028, carrying a zero-coupon rate.

Market Confidence Rises

DOC’s shares traded at AUD 0.155 per share on 29 October 2025, up 19.23% from the previous close of AUD 0.130, reflecting investor response to sustained positive cashflow and improving operational metrics.

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