Online Medical consultation and treatment

Doctor Care Anywhere Group

AU: DOC

Market CapAU$47m

Last Close AU$0.21

Doctor Care Anywhere is a fast-growing telehealth company focused on delivering high-quality care to its patients, while reducing the cost of providing healthcare for health insurers and healthcare providers.

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Investment summary

Doctor Care Anywhere’s (DOC) Q122 results showed continuing revenue momentum from FY21, as well as a significant expansion in its gross margin as the costs of delivering consultations reverted to more normalised levels. Over the quarter, DOC significantly reduced its overheads and believes the platform’s operating leverage will allow the group to scale and reach its goal of EBITDA run-rate profitability by H123.

Y/E Dec
Revenue (£m)
EBITDA (£m)
PBT (£m)
EPS (fd) (p)
P/E (x)
P/CF (x)
2020A 11.6 (11.6) (13.5) (7.76) N/A N/A
2021A 25.0 (18.0) (19.3) (5.90) N/A N/A
2022E 36.2 (13.7) (14.7) (4.08) N/A N/A
2023E 50.4 (0.8) (1.9) (0.53) N/A N/A
Industry outlook

Statista forecasts that the global telehealth market will grow at a CAGR of 25% from US$49.9bn in 2019 to US$459.8bn (8.2x) by 2030, primarily driven by COVID-19-related changes in the habits of consumers and providers. Despite varying industry estimates, the consensus that telehealth is poised for higher adoption and robust growth remains broadly consistent. Key growth drivers for increased telehealth adoption include increased prevalence of chronic diseases, long waiting times at hospitals, greater need for cost-saving in healthcare delivery, a growing number of smartphone users and advances in consumer information and communications technologies.

Last updated on 20/05/2022
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Share price graph
Balance sheet
Forecast net cash (£m) 7.3
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (24.1) (50.6) (74.7)
Relative* (19.2) (49.9) (75.2)
52-week high/low A$1.0/A$0.2
*% relative to local index
Key management
Bayju Thakar CEO
Dan Curran CFO