Doctor Care Anywhere: Forecast upgrade following solid Q1 performance

Doctor Care Anywhere Group’s Q121 update showed that it continues to grow robustly in 2021, with revenue and consultations up c 260% y-o-y, ending the period with a solid balance sheet (net cash of £35.1m). Management remains confident of the growth potential for the rest of the year and expects revenue in 2021 to grow by at least 100% above 2020 levels. We have upgraded our FY21 forecasts following a robust Q1 and the company’s upbeat outlook for 2021.

Solid Q1 revenue and KPI growth

Underlying revenue (excluding £2m one-off revenue) was up 260% y-o-y to £4.4m in Q121, resulting from 261% y-o-y growth in consultations.

As a doctor founded, patient-focused company, Doctor Care Anywhere plc (ASX:DOC) believe that happy doctors mean happy patients. It’s a virtuous circle and one that we’ve built a great team to help keep going.

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