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Dec 31, 2023
OptimizeRx Q4 2023 Earnings Report
Provided business update and preannounced preliminary, unaudited first quarter 2024 results.
Key Takeaways
OptimizeRx expects revenue to increase over 40% year-over-year for Q1 2024, landing between $18.5 million and $19.2 million. The company anticipates a GAAP net loss and Adjusted EBITDA loss between $(8.2) - $(7.0) million and $(1.0) - $(0.7) million, respectively. The revenue increase was primarily driven by strong organic growth from DAAP and the acquisition of Medicx Health.
Q1 2024 revenue is expected to grow over 40% year-over-year, reaching between $18.5 million and $19.2 million.
GAAP net loss and Adjusted EBITDA loss are projected to be between $(8.2) - $(7.0) million and $(1.0) - $(0.7) million, respectively.
The year-over-year revenue increase was primarily driven by strong organic growth due to DAAP and the acquisition of Medicx Health.
Commercial integration strategy between OptimizeRx and Medicx is progressing ahead of expectations, with cross-sell opportunities in late-stage negotiations.
Forward Guidance
OptimizeRx anticipates continued growth and performance based on the momentum from Q4 2023 and the integration of Medicx Health, expecting to meet or exceed financial targets.
Positive Outlook
- Momentum from the fourth quarter has carried into the first quarter of 2024 with the signing of 9 new DAAP deals.
- Current industry trends favor OptimizeRx's approach with pharma looking to partner with scalable platforms.
- OptimizeRx's AI-enabled platform delivers agile precision-marketing capabilities.
- Commercial integration strategy between OptimizeRx and Medicx is progressing ahead of expectations, with numerous new cross-sell opportunities in late-stage negotiations.
- The integration of the two businesses is ahead of schedule and the company is optimistic about their performance.
Challenges Ahead
- Preliminary and unaudited financial results are subject to completion of the Company’s financial quarterly closing procedures.
- The Company’s independent registered public accounting firm has not conducted an audit or review of the preliminary and unaudited revenue results.
Historical Earnings Impact
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