OptimizeRx Corporation · Q1 2022 earnings

Briefing

OptimizeRx's Q1 2022 earnings were reported, with a 22% increase in revenue and the successful completion of the EvinceMed acquisition.

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.

Headline financials

Revenue & EPS history

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%.