French healthtech unicorn Doctolib has reached €348 million in annual recurring revenue (ARR) for 2024, marking a major milestone in its 12-year journey. This achievement comes as the company reports a 22.5% growth in revenue compared to 2023, with Doctolib now on track to reach profitability in the coming months.
First disclosed by Les Echos, these figures also reveal a significant reduction in losses, down by 38% to €53.8 million, compared to €87.1 million in 2023. The results reflect the company’s strong growth trajectory, driven by its suite of healthcare services and an expanding market presence.
Founded in 2012, Doctolib is France’s most highly-valued VC-backed company, with a valuation of €5.8 billion, alongside Mistral AI. The company operates an online platform that allows patients to book doctor appointments for free—a service that has become an essential part of France’s healthcare system.
In addition to its patient booking system, Doctolib provides healthcare professionals with tools to manage appointments, conduct teleconsultations, and handle patient data. Impressively, 99% of Doctolib’s ARR comes from subscription fees paid by healthcare professionals for these services.
In a LinkedIn post, Doctolib’s CFO, Pierre Vergnes, highlighted that the company’s 2024 results reflect the growing trust that healthcare professionals place in the platform’s solutions.
Across its four markets—France, Germany, Italy, and the Netherlands—Doctolib has amassed 80 million patient accounts and 400,000 healthcare professionals as subscribers.
France Dominates, But International Markets Show Promise
France continues to dominate, representing 80% of Doctolib’s ARR. However, the company’s international growth is also picking up momentum. Germany, which Doctolib entered in 2016, has seen slow adoption but now contributes 17% of its ARR. The German market is home to 25 million patients and 100,000 healthcare professionals.
Meanwhile, Doctolib’s Italian expansion is still in the early stages, accounting for less than 3% of its ARR in 2024. Vergnes describes Italy as a testing ground for future European expansion, with plans to explore more northern European markets, including the UK.
In its pursuit of profitability, Doctolib has made substantial investments in innovation, particularly in artificial intelligence (AI). The company dedicated €115 million to research and development in 2024—approximately one-third of its total revenue.
A significant portion of this investment went towards the development of AI-powered tools for healthcare professionals. Notably, Doctolib is working on AI assistants that can help doctors by taking notes during patient consultations—an effort aimed at enhancing efficiency and improving the patient experience.
Despite these advancements, Vergnes acknowledged that Doctolib remains relatively small compared to its larger competitors. Cegedim, a French healthtech company, reported €655 million in revenues for 2024, while CompuGroup in Germany saw €1.15 billion. In the US, Epic Systems, a leader in healthcare IT, reported revenues around $5 billion (€4.3 billion).
With its continued growth and investment in AI innovation, Doctolib is well-positioned to reach profitability in the near future. As the company expands its European footprint and integrates cutting-edge AI technologies into its platform, it remains a key player in the evolving healthcare technology landscape.
