Doctolib, the leader in online medical appointment booking, is preparing to reach profitability after 12 years of existence. Behind this announced economic success, more than a decade of investments are coming to fruition. Since its creation in 2013, the platform has established itself as the essential service for booking doctor's appointments. With more than 400,000 healthcare professionals subscribed and a presence in several European countries, the French unicorn has revolutionized practices, accelerated the digitalization of the sector and facilitated access to care for millions of patients, particularly during the Covid period.
However, despite its dominance and impressive growth – With recurring revenue of €348 million in 2024, up 22.5% year-on-year – Doctolib has never been profitable. In 2024, the company still posted an operating loss of €53.8 million, although this had been reduced by a third compared to the previous year. A paradox for a company valued at €5.8 billion and which has become a central player in the healthcare system. English.
Why is Doctolib not yet profitable?
The main reason for this lack of profitability is due to Doctolib's hypergrowth strategy. The company has invested heavily in research and development – €115 million by 2024 – focusing in particular on the integration of artificial intelligence and the enrichment of its services. It has also increased its acquisitions to strengthen its position and pursue its international expansion.
The Covid-19 crisis has also played a key role. While the health crisis has helped to establish the service's dominance in France, particularly during vaccination campaigns and periods of lockdown, Doctolib has had to accelerate its developments in an emergency. Add to this a business model aimed at professionals, which relies less on making free appointments for patients than on selling software subscriptions to practitioners, and the profitability threshold revealed by the company becomes even more distant.
Profitability in sight... at What price?
That was before. Doctolib plans to break even by 2025. This outlook is based on several levers: continued growth in the number of subscribers, increased revenue from software for healthcare professionals, and a gradual reduction in investments, as AI continues to gain ground.
But this profitability is not without consequences. To achieve this, Doctolib could be tempted to increase its prices, at the risk of limiting its access. In addition, the platform's ultra-dominant position – nearly half French private doctors use it – raises fears of a quasi-monopoly situation, with the healthcare system becoming increasingly dependent on a private player.
Doctolib's success also raises the question of digital sovereignty: the platform hosts sensitive health data, often on foreign servers, which fuels debates on security and confidentiality. The government, which largely supported Doctolib during the pandemic, is now trying to redress the balance with public solutions like Mon Espace Santé, but the platform remains largely dominant. Doctolib's situation could also lead to the arrival of new competitors, ready to slash prices or innovate.
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