Earnings release
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RNS Number : 0929PMedpal AI PLC04 August 2026 4 August 2026 MedPal AI plc ("MedPal", the "Company" or the "Group") July Trading Update: Record Month Across All Three Revenue Streams Group annualised recurring revenue run rate now over £8.6 million, up more than 70 per cent in two months, from a standing start of zero revenue nine months ago MedPal AI plc (AIM: MPAL; FRA: Z1N), the AI-native digital health and pharmacy group, is pleased to provide a trading update for July 2026, the first month in which the Group's three revenue streams (NHS prescriptions,private prescriptions and SaaS software subscriptions) have all been in operation. Highlights - From zero to £8.6 million in nine months. The Group's dispensing operations started from zero in October 2025. The annualised run rate passed £5 million by 1 June 2026 and stands at approximately£8.6 million based on July 2026, growth achieved in just nine months from a standing start. - NHS Prescriptions: record month. 47,223 NHS prescription items dispensed in July 2026, a newmonthly record for the Group, up 11.8 per cent on the previous record of 42,250 items in May 2026,reported on 1 June 2026. The Group's NHS prescription operations are now trading at an annualised turnover run rate in excess of £5.5 million (1 June 2026: in excess of £5 million). - Private Prescriptions: over £180,000 in July from only three weeks of marketing. New Health (new.co.uk), the Group's dedicated GLP-1 weight management clinic generated private prescriptionrevenue annualised at over £2.2 million. - SaaS revenue: approximately £0.843m annualised at an 82 per cent gross margin. eMARx (SolidState Technologies), acquired on 20 July 2026, generates established recurring monthly softwaresubscription revenue from care homes and pharmacies. - All revenue is repeat revenue. None of the Group's revenue streams is one-off in nature. NHSprescription revenues arise from repeat monthly prescriptions under long-term patient nominations, private prescription revenues arise from monthly repeat GLP-1 treatment plans and SaaS revenues arise fromrecurring monthly software subscriptions. The Board therefore regards the Group's revenue base asannualised recurring revenue. - Cross-selling and upselling to accelerate growth further. The Group will cross-sell its NHS prescriptionservice to New Health private patients, inviting them to nominate the Group's pharmacy for their everyday GP prescriptions, and will upsell the Group's wider services, including at-home blood testing, the MedPalHealth OS app and Juno, its agentic AI health companion, across its entire client base. The Directorsexpect this to accelerate revenue growth even further, with each customer supporting multiple recurringrevenue streams. Final Settlement of eMARx acquisition Further to the Company's announcement, on 20 July 2026, of the acquisition of eMARx, it is now anticipated thatthe completion accounts will be finalised by the end of August and the final consideration will be paid then. It is stillexpected that this will be approximately £94,000, to be settled 35 per cent in cash and 65 per cent through the issue of new ordinary shares. Issue of Fee Shares The Company has issued 928,570 new ordinary shares ("Fee Shares") in lieu of approximately £32,500 of cash inrespect of advisory fees incurred by the Company. The Fee Shares have been valued at 3.5p per share. The Fee Shares will, when issued, rank pari passu in all respects with the existing ordinary shares of theCompany, including the right to receive all dividends and other distributions declared, made or paid after their date of issue. Application will be made to the London Stock Exchange for the Fee Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings in the Fee Shares will commence
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at 8.00 a.m. on 7 August 2026. Following Admission, the Company's issued ordinary share capital will consist of 778,042,430 ordinary shares of£0.0002 each, with one voting right per share. No ordinary shares will be held in treasury. The total number ofvoting rights in the Company following Admission will therefore be 778,042,430, which figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify theirinterest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and TransparencyRules. Chief Executive Officer's Commentary Jason Drummond, Founder and Chief Executive Officer of MedPal, commented: "We are delighted to report further growth in monthly revenues for the Group, which have gone from zero to £8.6million of annualised revenue in nine months. July was a record month across all three of our revenue streams,and all of this represents repeat revenue: NHS prescriptions are renewed month after month, as are New Health treatment plans and eMARx software subscriptions. Nothing here is one-off. "We commenced marketing of the New Health brand only three weeks ago and have further levers we intend to utilise; cross-selling NHS prescriptions to our private patients and upselling our wider services across the wholeclient base. Individual customers frequently generate multiple recurring revenue streams. We are just gettingstarted." This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (whichforms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018). The Directors of the Company are responsible for the contents of this announcement. For further information visit www.medpalai.com or contact the following: Enquiries: MedPal AI plcJason Drummond, Chief Executive Officer Via Square1 Consulting Cairn Financial Advisers LLP (Nominated Adviser)Louise O'Driscoll/Jo Turner +44 (0) 20 7213 0880 Oak Securities (a trading name of MerlinPartners LLP) (Joint Broker)Tim Dainton/Calvin Man +44 (0) 20 3973 3678 Clear Capital Markets Limited(Joint Broker)Bob Roberts +44 (0) 20 3869 6080 About MedPal AI plc MedPal AI plc (AIM: MPAL; FRA: Z1N) is a vertically integrated, AI-native digital health and pharmacy group. The Group operates NHS Distance Selling Pharmacy hubs at Sarus Court, Runcorn (the groups largest roboticdispensing facility) and Swaffham, New Health (new.co.uk), a dedicated GLP-1 weight management clinic, a B2Bcare home pharmacy supply business, eMARx, the Group's electronic medication administration record software for care homes, and Juno, an agentic AI health companion built on Anthropic's Claude. MedPal's ambition is tobuild the UK's leading Health OS: a single platform connecting prescribing, dispensing, delivery, administration andAI-driven patient support. The Company's LEI is 984500EDP8B0A14CBA61. Forward Looking Statements This announcement contains forward-looking statements, which are based on the Company's currentexpectations, intentions and projections regarding its future performance, anticipated events or trends and othermatters that are not historical facts. Forward-looking statements are often identified by words such as "believes", "expects", "intends", "may", "will", "should", "could", "plans", "targets", "aims" or similar expressions. Suchstatements are subject to risks, assumptions and uncertainties and actual results, performance or events maydiffer materially from those expressed or implied by them. The Company undertakes no obligation to update any forward-looking statements, except as required by applicable law, the AIM Rules for Companies, the UK MarketAbuse Regulation or other applicable regulation. END