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Gabriel Budi Sutrisno · · 3 min readAlodokter sees stagnant revenue, cuts losses by half in 2022
The parent company of SoftBank-backed Alodokter, an Indonesia-based healthtech platform, saw its revenue growth stall in 2022. Its revenue for the year stood at US$8.5 million, increasing by just 1% compared to 2021, according to Alternatives.pe, which tracks regulatory filings in Singapore.
But Ranelagh, which owns Alodokter Teknologi Solusi, cut its losses by half over the same period.
In an email response to questions from Tech in Asia, Alodokter CEO Nathanael Faibis said that the numbers “do not represent the full structure of the company,” without elaborating further.
As this article was published, he had not replied to our request to provide more details.
Alodokter co-founders Suci Arumsari (left) and Nathanael Faibis / Photo credit: Alodokter
Revenue up, revenue down
In 2022, 89% of Ranelagh’s revenue came from web advertising and telemedicine services.
The former takes the form of display advertising and sponsored articles, while the latter refers to customers consulting with a doctor through the platform, whether on a one-time or subscription basis.
While telemedicine subscriptions remained the largest share of revenue in 2022, it declined by 20% year on year. In contrast, revenue from one-time telemedicine consultations rose by 16% over the same period, and revenue from web advertising grew by 29%.
Other sources of revenue include doctor booking (where it charges hospitals for patient referrals), commission from insurance, and e-pharmacy.
See also: This Indonesian healthtech firm checked out of hospitals to run clinics
Significant cuts in expenses
The narrowing in losses for 2022 is a result of Ranelagh’s expense reduction efforts across almost every category.
Its three biggest expense categories – employee compensation, advertising and marketing, and freelance doctors – fell year on year by 31%, 37%, and 46%, respectively.
The halving of losses was also reflected in the company’s cash flows, with its net cash used in operating activities declining by 56% over the same period.
A better year?
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The Indonesian healthtech platform reduced its expenses significantly across categories like employee compensation and advertising.
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