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Sep 30, 2023
OptimizeRx Q3 2023 Earnings Report
Reported third quarter results above expectations, driven by momentum in the Dynamic Audience Activation Platform (DAAP) and increased guidance for 2023 and introduced guidance for 2024.
Key Takeaways
OptimizeRx reported strong third-quarter results, exceeding expectations due to the increased utilization of their Dynamic Audience Activation Platform (DAAP). The company's total DAAP deals for the year reached 16. They also completed the acquisition of Medicx Health after the quarter ended. The company increased its guidance for 2023 and introduced preliminary guidance for 2024.
Total revenue reached $16.3 million.
GAAP net loss per share was $(0.17).
Non-GAAP net income per share was $0.09.
Total DAAP deals for the year now stands at 16.
OptimizeRx
OptimizeRx
Forward Guidance
The company is increasing its guidance for 2023 and introducing preliminary guidance for 2024.
Positive Outlook
- Revenue for 2023 is now expected to be between $68 million and $70 million.
- Adjusted EBITDA for 2023 is expected to be between $3 million and $4 million.
- OptimizeRx's pre-acquisition business will account for $63 to $65 million of 2023's revenue guidance.
- Revenue for 2024 is expected to be at least $110 million.
- Adjusted EBITDA margins for 2024 are expected to be at least 10%.