MedPal AI (MPAL) has reported a record July across all three of its revenue streams, with the group's annualised recurring revenue run rate rising above £8.6 million. The update marks the first full month in which its NHS prescription, private prescription and software-as-a-service (SaaS) businesses have all been contributing to revenue.
The group said it has grown from no revenue in October 2025 to an annualised run rate of about £8.6 million in just nine months. This compares with an annualised run rate of more than £5 million at the start of June, representing growth of more than 70% in two months.
July also delivered a record month for the group's NHS pharmacy business, with 47,223 prescription items dispensed, up 11.8% from the previous monthly high of 42,250 recorded in May. The NHS prescription operation is now trading at an annualised turnover run rate exceeding £5.5 million.
New Health, MedPal's GLP-1 weight management clinic, generated private prescription revenues equivalent to an annualised run rate of more than £2.2 million after only three weeks of marketing activity, with July revenue exceeding £180,000.
The group's recently acquired eMARx software platform is contributing annualised recurring SaaS revenue of about £843,000, with a gross margin of 82%. MedPal said all three revenue streams are recurring in nature, supported by repeat NHS prescriptions, ongoing private treatment plans and software subscriptions.
Looking ahead, management plans to accelerate growth by cross-selling NHS pharmacy services to New Health patients while promoting additional products, including at-home blood testing, the MedPal Health OS app and its Juno AI health companion, across its customer base.
MedPal founder and chief executive officer Jason Drummond said: “We are delighted to report further growth in monthly revenues for the Group, which have gone from zero to £8.6 million 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.”
View from Vox
MedPal continues to demonstrate exceptional execution following its rapid expansion into digital healthcare, pharmacy and AI-enabled software. The pace at which the group has built multiple recurring revenue streams is notable, and with cross-selling initiatives only beginning, management believes there remains significant scope to increase customer value and sustain strong revenue growth.