MedPal AI (MPAL) has reported its first interim results as a listed company, generating £1.6 million in revenue during the six months to 28 February 2026 as it transformed from a pre-revenue digital health platform into a vertically integrated healthcare business.
The company recorded gross profit of £368,550 during the period, while losses after tax widened to £3.27 million as MedPal invested heavily in pharmacy infrastructure, clinical staffing, marketing and technology development. By March 2026, its pharmacy operations were running at an annualised revenue rate of more than £5 million, with gross margins exceeding 34%.
A key milestone during the period was the acquisition of Universal Pharmacy, which provided an NHS contractor registration and Distance Selling Pharmacy licence. MedPal also secured a direct supply agreement with Eli Lilly for Mounjaro, complementing its existing relationship with Novo Nordisk for Wegovy, giving the company direct access to the two leading GLP-1 weight-loss medicines.
Meanwhile, the group continued to expand its healthcare ecosystem around the MedPal app, which aggregates data from more than 100 wearables and health applications. The company has branded this integrated platform as the MedPal Health OS, combining AI-powered clinical triage, pharmacy dispensing and patient monitoring into a single healthcare offering.
The business also continued to scale its care home pharmacy division through a contract with Care UK, supplying medicines across a large portfolio of care homes. Dispensing volumes increased rapidly from zero items in October 2025 to more than 41,000 items in March 2026, with management highlighting significant remaining capacity within its automated dispensing infrastructure.
Post period-end, MedPal strengthened its balance sheet through a series of fundraisings totalling more than £3.5 million and completed the acquisition of the Remedi pharmacy assets in Runcorn for £310,000. The deal added a second dispensing hub and expanded the group's presence across the Midlands and North of England.
MedPal AI's Chief Executive Officer Dan Vickers said: "The first six months as a listed company have moved MedPal AI from start-up to scale-up. The next six are about converting that platform into sustained, profitable growth."
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MedPal has moved quickly since joining AIM, building a healthcare platform that combines digital health, pharmacy services and the fast-growing GLP-1 weight-loss market. Revenues are scaling rapidly, while the addition of a second dispensing hub gives management a larger operational base from which to pursue profitability.