Q3 2026 highlights: revenue up 16% to £11.3m
In its Q3 2026 trading update for the three months to 30 September 2026, Doctor Care Anywhere (ASX: DOC) reported revenue growth of 16% to £11.3m against Q3 2025. The figures are unaudited management figures in pounds sterling.
Weight management completed its first full quarter in the Group, 19% of revenue came from subscriptions, and consultations grew 2.6%. The company described this as a broader revenue base, and cash at bank ended the quarter at £8.3m.
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Revenue mix shifts toward subscriptions
Weight management and core business
Weight management contributed £1.5m in the quarter, equal to 13% of Group revenue. That compares with £0.9m in the 54 days to 30 June. The business is reported as DCA Medicspot, included from its acquisition on 8 May 2026.
The weight management line traces back to the acquisition on 8 May 2026, when DCA bought the GLP-1 and medicated weight-loss business of MedicSpot and ODL for £850,000 from existing cash, with no earn-out and no deferred consideration.
Revenue in the rest of the business was £9.8m, level with Q3 2025.
Subscription revenue and consultations
Subscription revenue, including weight management, was £2.2m, of which DCA Medicspot contributed £1.5m. That compares with £0.7m in Q3 2025. Subscription revenue represented 19% of revenue, against 8% in Q3 2025 and 11% in the first half of 2026.
The 11% subscription share recorded in the first half results reflected only 54 days of weight management contribution, which helps explain why the share has since climbed to 19% on a full quarter of that business.
Consultations totalled 174,440, up 2.6%, with repeat patients accounting for 74% of consultations.
| Metric | Q3 2026 | Q3 2025 | Change/Note |
|---|---|---|---|
| Revenue | **£11.3m** | n/a | Up **16%** |
| Subscription revenue | **£2.2m** | **£0.7m** | Includes weight management |
| Subscription share of revenue | **19%** | **8%** | **11%** in the first half of 2026 |
| Consultations | **174,440** | n/a | Up **2.6%** |
Laura O’Riordan, Chief Executive Officer, said:
Laura O’Riordan, Chief Executive Officer
“This quarter shows the business broadening and delivering on strategy. Subscriptions now account for 19% of revenue, against 8% a year ago, and we will continue to focus on diversifying our revenue. We have also added three new distribution partnerships since July, two of them through employee benefits platforms.”
Educational: why subscription revenue matters for telehealth investors
Telehealth providers typically earn revenue in two ways. Pay-per-consultation revenue arises each time a patient books an appointment. Subscription revenue is stated on a recognition basis, as in the company’s half-year results.
A rising subscription share changes the make-up of revenue, which investors may weigh when assessing how a business generates income. For DCA, the share moved from 8% in Q3 2025 to 19% in Q3 2026, while repeat patients accounted for 74% of consultations.
Cash position, partnerships and leadership
Cash at bank of £8.3m
Cash at bank was £8.3m at 30 September, against £7.7m at 30 June 2026. The increase was driven by a £0.5m payment received in advance, in addition to on-going monthly free cash flow.
Three distribution partnerships since July
DCA added three distribution partnerships since July:
- Ramsay Health Care UK (20 July): self-pay online GP appointments for Ramsay patients, with onward referral into Ramsay’s hospitals and specialists.
- Rippl (1 October): DCA Weight Management, a 12-month programme of medication, one-to-one coaching and clinical support, for members of the employee benefits platform.
- Live Like Loyalty (19 October): DCA Weight Management for members and up to five friends and family.
Per the CEO, two of the three partnerships are through employee benefits platforms.
Leadership
Lisa Barter was appointed Chief Financial Officer on a permanent basis from 1 October 2026. She had served as interim Chief Financial Officer since 18 August.
What happens next for Doctor Care Anywhere investors
On 23 October 2026, DCA released its Strategy and Business Model Update, which sets out the business, how it reports and how to model it. The company will report the same four figures every quarter, on the definitions given in that update.
Laura O’Riordan and David Ravech, Non-Executive Director, will meet investors on an Australian roadshow:
- Sydney, 9 and 10 November 2026: investor meetings.
- Roadshow presentation, by Friday 6 November: to be lodged with the ASX ahead of the first meeting, drawing on the Strategy and Business Model Update and this trading update.
- Melbourne, 12 and 13 November 2026: investor meetings.
Investors can request a meeting by contacting Investor Relations at investorenquiries@doctorcareanywhere.com.
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