OptimizeRx prelims, outlook

 

• Preliminary revenue for 2023 is expected to exceed the Company’s previously announced guidance range of $68-$70 million. The stronger than expected top-line performance was driven by end of year success with DAAP (Dynamic Audience Activation Platform), as the Company closed the year with 24 deals. This is expected to result in a sequential improvement to the Company’s KPIs.
• Fourth quarter 2023 adjusted EBITDA is expected to be a new highwater mark for the Company primarily as a result of a higher margin solution mix.
• During the fourth quarter, the Company successfully completed its previously announced expense reduction measures while streamlining the business and focusing on core strategic priorities.
• The integration of the Medicx Health acquisition is tracking ahead of internal expectations and the majority of integration activities are expected to be completed by the end of the first quarter of 2024.

Will Febbo, OptimizeRx CEO commented, “Our fourth quarter is expected to show a strong finish to the year, where we were able to post meaningful growth in our core business. Perhaps most notably, we were able to end the year with 24 DAAP deals, which provides us with a significant revenue launchpad for 2024 and reinforces our confidence in our ability to achieve our 2024 guidance with revenue of at least $110 million and at least 10% adjusted EBITDA margins.”

“During the fourth quarter of 2023, we acquired Medicx Health, a leading healthcare consumer-focused omnichannel marketing and analytics company, while simultaneously reducing our legacy operating expenses by approximately 10% by streamlining operations and focusing on key strategic priorities. This positions us as a dominant player for pharma marketing solutions and a more profitable company highly focused on leveraging AI technology to help pharma take a patient-first approach to marketing.”

The Company plans to report its full fourth quarter and full year 2023 results and conduct an earnings call in early March.

https://www.globenewswire.com/news-release/2024/01/09/2806172/0/en/OptimizeRx-Preannounces-Select-Expected-2023-Financials-and-Provides-a-Business-Update.html