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Mar 31, 2022
OptimizeRx Q1 2022 Earnings Report
OptimizeRx's Q1 2022 earnings were reported, with a 22% increase in revenue and the successful completion of the EvinceMed acquisition.
Key Takeaways
OptimizeRx reported a 22% increase in revenue to $13.7 million for Q1 2022 compared to $11.2 million in Q1 2021. The company's gross margin increased to 59% from 55% in the year-ago quarter. The company reported a GAAP net loss of $3.8 million, or $(0.21) per share, compared to a net loss of $0.6 million, or $(0.04) per share in Q1 2021. Non-GAAP net loss was $0.1 million or $(0.01) per share compared to non-GAAP net income of $0.6 million or $0.04 per share in the same year-ago period.
Total revenue increased by 22% to $13.7 million compared to the same period in 2021, driven by increased sales from core messaging solutions.
Gross margin improved to 59% from 55% in the year-ago quarter, attributed to a more favorable channel partner and solution mix.
Operating expenses increased to $11.9 million, primarily due to investments in workforce expansion, including $2.5 million in additional stock-based compensation.
The company completed the EvinceMed acquisition, expanding its reach in key markets, including specialty medications.
Forward Guidance
The Company is reaffirming its full year financial outlook for 2022 and continues to expect net revenues of $80 million to $85 million, representing year-over-year growth of 31% to 39%, respectively, and gross margins to come in between 57% and 60%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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