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DocMorris (DOCM) investor relations material

DocMorris Q4 2025 TU earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 TU earnings summary20 Jan, 2026

Executive summary

  • Achieved 11.1% external revenue growth and 12.4% revenue growth in 2025, with strong Q4 momentum.

  • All business areas contributed to growth, with digital services and telemedicine showing high-margin expansion.

  • Active customer base increased to 11.0 million in 2025, despite the discontinuation of the Zur Rose brand in Germany.

Financial highlights

  • External revenue reached CHF 1,185.8 million, up 11.1% year-over-year; revenue at CHF 1,124.5 million, up 12.4%.

  • Q4 external revenue rose 15.5% year-over-year; revenue up 16.6% in local currency.

  • Germany segment external revenue up 11.7% in local currency; Rx revenue up 33.2% to CHF 234.8 million.

  • Non-Rx external revenue up 7.1% to CHF 887.9 million; TeleClinic revenue up 124% to CHF 24.9 million.

  • Retail Media and Marketplace revenue up 88% to CHF 13.6 million.

Outlook and guidance

  • EBITDA forecast for 2025 specified at minus CHF 48 to minus CHF 52 million.

  • EBITDA breakeven expected in 2026; free cash flow breakeven targeted for 2027.

AI assistant's impact on service adoption
Marketing efficiency's role in 2026 breakeven
Sustained drivers for Non-Rx Q4 growth
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Frequently asked questions

DocMorris AG operates an online pharmacy and healthcare platform offering prescription and over-the-counter medicines, personal care products, and digital health services. The company serves consumers across Europe through e-commerce channels, telepharmacy, and digital consultations. Its operations also include pharmaceutical logistics and fulfillment. The company is headquartered in Heerlen, Netherlands, and its shares are listed on the SIX.

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