6th Oct 2026 15:51
(Alliance News) - Medpal AI PLC on Tuesday released a trading update for September, estimating an increased revenue run rate for the year and with its founder predicting "more growth to come".
However, its stock was down 14% at 5.90 pence in London on Tuesday afternoon.
The London-based digital health and AI company said group revenue for September totalled approximately GBP3.2 million.
New Health revenue for September exceeded GBP2.7 million from over 22,600 orders, around 50% higher than the GBP1.8 million generated in August.
Medpal added that daily revenue in the last 11 days of the month was around 50% higher than that in the first 19 days.
Medpal said its annualised revenue run rate is now over GBP38 million, up from over GBP35 million as of September 21 and from approximately GBP28 million for August.
However, it noted: "This is September revenue multiplied by twelve, not a forecast."
Medpal said that over GBP1 million, or about one third, of September's group revenue came from New Health repeat orders, NHS prescriptions, and eMARx subscriptions. It "expects this share to rise month on month as recent customers reach their first reorder date."
Looking ahead, Medpal's expanded GLP-1 line at Sarus Court "remains on track to open by the end of October". The company expects it to increase capacity to 14,000 orders a day.
Medpal said it remains focused on expanding capacity, increasing repeat business and concluding the working capital facility discussions announced late last month.
"New Health grew revenue by approximately 50% in September and finished the month well ahead of the pace we reported two weeks ago," commented Founder & Chief Executive Officer Jason Drummond. "Across the group, repeat orders and recurring revenue contributed over GBP1 million, around a third of the month, and we expect that share will grow as more customers reach their first reorder date. Our expanded GLP-1 line opens this month, giving us capacity for 14,000 orders a day.
"We believe that there is more growth to come."
By Emma Curzon, Alliance News reporter
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