Rocket Doctor AI (AIDR) Q4 2025 earnings summary

Executive summary

• FY2025 revenue was $1.739 million, with Q4 revenue rising 31.8% QoQ to $697,340; growth reflected Rocket Doctor Inc.’s acquisition and consolidation, plus continued platform scaling.

• Signed U.S. payer agreements expanded in-network reach to ~21 million members; U.S. operations contributed less than 3% of 2025 revenue, positioning the platform for expansion in 2026.

• 2025 was described as a shift from concept validation toward demonstrating the scalability of a physician-led model, supported by more than 750,000 patient visits in Canada to date.

Financial highlights

• FY2025 revenue was $1.739 million versus $233,000 in the audited comparative table; Q4 revenue was $697,340, up 31.8% QoQ and 36.1% from Q2.

• Q4 gross margin was 84%, versus 88% in Q3 and 89% in Q2; mix shift and higher variable costs from increased patient activity contributed to compression.

• Q4 net comprehensive loss was $7.364 million, or $0.10 per share, versus $3.5 million, or $0.05 per share, in Q3; FY2025 loss was $15.721 million, or $0.12 per share.

• Adjusted EBITDA loss was $2.1 million in Q4, versus $1.8 million in Q3 and $1.7 million in Q2; adjustments include share-based compensation, acquisition and financing costs, and contingent-consideration fair-value changes.

• Cash and cash equivalents were $641,779 at Dec. 31, 2025, versus $1.89 million at Sept. 30 and $117,595 at June 30.

Outlook and guidance

• 2026 priorities include increasing U.S. patient visits from payer agreements, expanding payer partnerships, growing the physician network and marketplace, and broadening the multi-state clinical footprint.

• White-label partnerships are being pursued as a scalable route for U.S. organizations to offer physician-led virtual care under their own brands.

• AI and automation integration is intended to improve clinical workflows and internal efficiency, supporting long-term margin expansion.

• The Rush River Research program under the US$2 million NIH grant remains a 2026 focus, developing culturally sensitive tools for collecting family medical histories.