Rocket Doctor AI (AIDR) Q2 2025 earnings summary

Executive summary

• Q2 2025 marked the first revenue-generating quarter, with $513,000 in revenue following the Rocket Doctor Inc. acquisition; revenue was $nil in Q2 2024.

• The quarter combined expansion of the virtual-care platform with U.S. partnerships and a live medical-education deployment; management expects these initiatives to support growth in H2 2025 and beyond.

Financial highlights

• Q2 revenue was $513,000 versus $nil in Q1 2025 and Q2 2024; excluding acquisitions, existing businesses recorded 0% organic growth QoQ.

• Gross margin was 89% versus 0% in Q1 2025 and Q2 2024, reflecting revenue from the digital-health platform and marketplace.

• Net comprehensive loss was $2.683M, or $0.04 per share, versus $2.719M and $0.07 per share in Q2 2024; Q1 2025 loss was $2.1M, or $0.04 per share.

• Adjusted EBITDA loss was $1.596M versus $2.262M in Q2 2024; adjustments include share-based compensation, acquisition and financing costs, and contingent-consideration fair-value changes.

Outlook and guidance

• Management expects California and New York virtual-care deployments to contribute incremental revenue growth in H2 2025 and beyond.

• GLM API refinements are scheduled through H2 2025; RD Connect targets broader rollout in late 2025 and early 2026, while RD Health Voyager development is planned into 2026.

• A University of Minnesota research paper on the Medical Education Suite is expected in Q3 2025; further adoption across enterprises and medical schools is a commercialization priority.

• Management plans continued investment in AI platforms and strategic partnerships to support U.S. expansion and long-term growth; execution risks remain.