DocMorris shares advanced in early trading on Thursday following the release of its third-quarter financial figures, which surpassed analyst forecasts. The online pharmacy also reached the break-even point for adjusted EBITDA ahead of schedule and lifted its annual forecast.
By 0.945, the stock gained 5.5 percent to reach 14.86 francs, while the broader SPI market stood 0.5 percent higher. Shortly after the market opened, the shares had surged by more than 11 percent at their peak.
Analysts highlighted strong growth in the prescription medication segment in Germany, which accelerated significantly during the third quarter and exceeded projections. An additional positive surprise was reaching the adjusted EBITDA break-even threshold in the third quarter, whereas many analysts had anticipated that milestone only in the fourth quarter.
ZKB described the momentum in acquiring new prescription medication customers as very strong and called the adjusted EBITDA break-even a milestone for DocMorris. However, the responsible analyst noted that the figure is adjusted and that free cash flow remains significantly negative for now, pointing to further cost efficiency progress and free cash flow break-even in 2027 as critical factors.
UBS also characterized the quarterly figures as clearly exceeding expectations. Despite the raised annual guidance, UBS expects only minor adjustments to consensus full-year earnings estimates. Conversely, Octavian sees considerably more potential, with its analyst labeling the new revenue forecast conservative because it assumes fourth-quarter growth of just 8 to 9 percent following a 15.5 percent increase in the first nine months, leaving room for upward revisions to analyst estimates.
