Doctor Care Anywhere : Quarterly Activity Report & Appendix 4C for 2Q 2022

28 July 2022

For personal use only

Quarterly Activity Report and Appendix 4C

Key Metrics for 2Q 2022

ACTIVATED LIVES

CONSULTATIONS

SECONDARY CARE

REPEAT PATIENTS

JOURNEYS

756k

47k

151k

7k

+117% on pcp

+35% on pcp

+69% on pcp

+38% on pcp

Doctor Care Anywhere Group PLC (ASX:DOC, "Doctor Care Anywhere" or "the Company") is pleased to provide an update on trading for the quarter ended 30 June 2022 ("2Q 2022")1.

The Company will provide a full update for the half year ended 30 June 2022 when its H1 results are published in mid-August 2022.

Cash Position: Progress to Profitability and Net Cash Generation

Cash receipts from customers increased by 12% (£0.9 million : A$1.7 million) to £8.7 million (A$16.4 million). This increase was predominantly driven by revenue growth in 1Q 2022, which due to customer payment terms was paid in 2Q 2022.

Net operating cash outflows decreased by 35% (£1.9 million : A$3.6 million) to £3.6 million (A$6.8 million). This decrease was driven by the increase in cash receipts from customers (as referenced above), driving productivity in the business to lower costs and working capital initiatives.

Net investing cash outflows for the quarter were £0.9 million, an increase of £0.2 million on the prior quarter. This was driven by the business continuing to invest in its technology platform.

Net cash outflows from financing activities for the quarter were £0.1 million. Net cash flows from financing activities were positive in the prior quarter due to the funds received from a Placement and Retail Security Purchase Plan completed during that quarter.

The Company exited the quarter with £12.4 million (A$23.4 million) of cash on hand as at 30 June 2022.

Operational Performance

Operational KPIs

		Actual		% increase /		% increase /
			(decrease) on		(decrease) on
		2Q 2022		2Q 2021 (PCP)		1Q 2022 (QoQ)
		000's
Eligible Lives2 at Period End	2,525.8	7.2%	(1.6%)
Activated Lives3 at Period End	756.3	35.4%	2.9%
Consultations4 by Period	151.1	69.0%	(0.5%)

1. This Quarterly Activity Report and Appendix 4C is prepared in GBP in accordance with International Financial Reporting Standards in conformity with the requirements of the Companies Act 2006 (UK). All figures expressed in Australian Dollars ("A$") have been converted from British Pounds Sterling at an exchange rate of AUD:GBP 1:0.53.
2. Eligible Lives represents the total number of people who have an entitlement to use DOC's services.
3. Activated Lives represents the total number of people who "sign up" for DOC's service and enter their personal details.
4. Consultations are the number of GP, Psychiatrist and Psychologist consultations delivered to patients over the period.

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Commentary

Eligible Lives at the end of 2Q 2022 were 2.5 million, up 7% on the pcp. Growth in Eligible Lives was driven by increased penetration of the Company's services across existing channel partners.

At the end of 2Q 2022, Activated Lives were 756,300, up 35% on the pcp. Growth in Activated Lives was driven by marketing and engagement activities across the Company's expanded pool of Eligible Lives.

Consultation volumes continued to grow year-on-year, with 151,100 consultations delivered across 2Q 2022, up 69% on pcp. Growth in consultation volumes was driven by:

• a 38% pcp uplift in new patients to 47,000; and
• improved uptake in the Company's secondary care pathway (referral for diagnostic tests and specialist review of results), with 7,200 patients completing the pathway; up 117% on pcp.

Consultations by Quarter (000's)

			First Time			Repeat													143	152	151
																			117
															91	89			93	102	104
													74					76
											63
									53			53	55
											42
											35
									25
							25
				17														51	50	47
14		14	28	28	32	38	34	41
8	10
8		11
6

Q3 2019 Q4 2019 Q1 2020 Q2 2020Q3 2020Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022

Quarter-on-quarter consultation volumes were materially consistent. As referenced in the Company's trading update for 1Q 2022, this was anticipated due to the concentration in 2Q of UK public holidays impacting both patient demand and clinician supply.

Returning patients represented 69% of all consultations in the quarter, up from 67% in the prior quarter and 62% in the pcp, demonstrating patient satisfaction with the service.

Other

As required by ASX Listing Rule 4.7C.3, the Company discloses that payments to related parties in the period totalled £0.26 million, representing payment of Director Fees to Non-Executive Directors and salaries to Executive Directors (including pension and payroll tax payments), an increase of £0.08 million on the prior quarter. This increase was driven by a one-off payment to the retiring Chairman relating to his contractual entitlements.

- ENDS -

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This ASX announcement has been authorised for release by the Board of Directors.

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About Doctor Care Anywhere:

Doctor Care Anywhere Group PLC is the UK's largest private provider of telehealth services. The Company works with insurers, healthcare providers and corporate customers to connect patients to a range of digitally-enabled telehealth services on its proprietary platform. It is committed to delivering the best possible patient experience and clinical care through digitally enabled, joined up, evidence-based pathways on its proprietary platform. Doctor Care Anywhere utilises its relationships with health insurers, healthcare providers and corporate customers to connect with patients to deliver a range of telehealth services.

Forward looking statements:

This announcement contains forward-looking statements which are statements that may be identified by words such as "may", "will", "would", "should", "could", "believes", "estimates", "expects", "intends", "plans", "anticipates", "predicts", "outlook", "forecasts", "guidance" and other similar words that involve risks and uncertainties. These statements are based on an assessment of present economic and operating conditions and on a number of best estimate assumptions regarding future events and actions that, at the date of this announcement, are expected to take place. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company, and the directors and management of the Company. The Company cannot and does not give any assurance that the results, performance or achievements expressed or implied by the forward-looking statements contained in this announcement will actually occur and investors are cautioned not to place undue reliance on these forward-looking statements.

Further Information:
Simon Hinsley	Dan Curran
NWR Communications - Investor Relations	Chief Financial Officer and Company
[phone]	Secretary
[e-mail]	company.secretary@doctorcareanywhere.
	com

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Appendix 4C

For personal use only

Quarterly report for entities subject to Listing Rule 4.7B

Name of entity
Doctor Care Anywhere Group PLC
ARBN	Quarter ended ("current quarter")
645 163 873	30 June 2022

Consolidated statement of cash flows	Current quarter	Year to date
			£'000	(6 months)
				£'000
1.	Cash flows from operating activities
1.1	Receipts from customers	8,731	16,568
1.2	Payments for
	(a)	research and development	(1,860)	(3,000)
	(b) product manufacturing and operating	(5,557)	(11,822)
		costs
	(c)	advertising and marketing	(436)	(783)
	(d)	leased assets	-	-
	(e)	staff costs	(2,989)	(6,564)
	(f) administration and corporate costs	(1,681)	(4,017)
1.3	Dividends received (see note 3)	-	-
1.4	Interest received	-	-
1.5	Interest and other costs of finance paid	(1)	(2)
1.6	Income taxes paid	-	-
1.7	Government grants and tax incentives	-	267
1.8	Other (provide details if material)	234	283
1.9	Net cash from / (used in) operating	(3,559)	(9,070)
	activities
2.	Cash flows from investing activities
2.1	Payments to acquire or for:
	(a)	entities	-	-
	(b)	businesses	-	-
	(c) property, plant and equipment	(12)	(78)
	(d)	investments	-	-
	(e)	intellectual property	(842)	(1,515)

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Consolidated statement of cash flows	Current quarter	Year to date
			£'000	(6 months)
				£'000
	(f)	other non-current assets	-	-
2.2	Proceeds from disposal of:
	(g)	entities	-	-
	(h)	businesses	-	-
	(i)	property, plant and equipment	-	-
	(j)	investments	-	-
	(k)	intellectual property	-	-
	(l)	other non-current assets	-	-
2.3	Cash flows from loans to other entities	-	-
2.4	Dividends received	-	-
2.5	Other	-	-
2.6	Net cash from / (used in) investing	(855)	(1,593)
	activities

3. Cash flows from financing activities

3.1 Proceeds from issues of equity securities

	(excluding convertible debt securities)	-	6,408
3.2	Proceeds from issue of convertible debt	-	-
	securities
3.3	Proceeds from exercise of options	-	-
3.4	Transaction costs related to issues of	(56)	(339)
	equity securities or convertible debt
	securities
3.5	Proceeds from borrowings	-	-
3.6	Repayment of borrowings	(78)	(91)
3.7	Transaction costs related to loans and	-	-
	borrowings
3.8	Dividends paid	-	-
3.9	Other (provide details if material)	-	-
3.10	Net cash from / (used in) financing	(134)	5,978
	activities

4. Net increase / (decrease) in cash and cash equivalents for the period

4.1 Cash and cash equivalents at beginning of

	period	16,955	17,068
4.2	Net cash from / (used in) operating	(3,559)	(9,070)
	activities (item 1.9 above)
4.3	Net cash from / (used in) investing activities	(855)	(1,593)
	(item 2.6 above)

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