DocMorris Reports Revenue Growth in Fourth Quarter
DocMorris, the online pharmacy, reported revenue growth of 11% in the fourth quarter, exceeding expectations. The company achieved revenue of CHF1.04 billion for the full year.
Shares in DocMorris, the online pharmacy, saw a boost as they returned to revenue growth in the fourth quarter, hitting the higher end of their full-year guidance. At 1003 GMT on Tuesday, shares were up 3.8% at CHF74.65, with earlier gains exceeding 5%.
During the fourth quarter, DocMorris reported external revenue of 280.5 million Swiss francs ($327.8 million), marking an 11% increase from the same period the previous year. In local currency, the company's external revenue rose by 14%, a significant rebound following a decline of 4.5% in the third quarter.
The positive results confirm DocMorris' inflection point toward sustainable and profitable growth. For the full year, the company achieved revenue of CHF1.04 billion, slightly lower than the CHF1.16 billion from the previous year but still within its sales target range.
The company has also confirmed its adjusted earnings before interest, taxes, depreciation, and amortization guidance for the year. Additionally, it expects to break even on that metric in 2024, excluding e-prescriptions. DocMorris was able to expand its customer base by 300,000 during the fourth quarter, reaching a total of 9.1 million customers.
Overall, these results highlight DocMorris' successful efforts in regaining momentum and positioning itself for further growth in the future.