Business
OptimizeRx Reports Fourth Quarter and Full Year 2022 Financial Results
Q4 revenue of $19.7 million, down 3% year-over-year and up 30% quarter-over-quarterQ4 gross profit increased 1% year-over-year to $12.5 million as gross
About this update from Optimizerx Corporation
[{"type":"text","content":"Q4 revenue of $19.7 million, down 3% year-over-year and up 30% quarter-over-quarterQ4 gross profit increased 1% year-over-year to $12.5 million as gross margins increased from 61% to 63%Generated $10.7 million in cash flow from operations in 2022Repurchased 1.2 million shares during 2022 at an average price of $16.49 per shareExited 2022 with six Real-World Data Artificial Intelligence (RWD-AI) deals ROCHESTER, Mich., March 08, 2023 (GLOBE NEWSWIRE) -- OptimizeRx Corp. (the “Company”) (Nasdaq: OPRX), a leading provider of point-of-care technology solutions helping patients start and stay on therapy, reported results for the fourth quarter and full year ended December 31, 2022. Twelve Months EndedDecember 31,Key Performance Indicators (KPIs)* 2022 2021 Average revenue per top 20 pharmaceutical manufacturer$2,143,296 $2,484,557 Percent of top 20 pharmaceutical manufacturers that are customers 90% 95%Percent of total revenue attributable to top 20 pharmaceutical manufacturers 62% 77%Net revenue retention 90% 127%Revenue per average full-time employee$606,312 $729,674 Will Febbo, OptimizeRx CEO commented, “Macro headwinds made 2022 an extremely challenging year. As a result, we are taking a conservative approach to guidance for 2023. However, during 2022 we made the decision to skate to where the puck is going to be and strengthened our platform and team around advanced/smarter solutions, particularly our RWD-AI offering. We believe this is bearing fruit, which is best evidenced by our exiting 2022 with six RWD-AI deals. Even more encouraging is the RWD-AI pipeline that's been built in recent months, which now encompasses several dozen deals. I believe our current revenue backlog, and the momentum we are currently seeing, positions the Company to return to at least double digit revenue growth this year. \"We continue to be at the nexus of a paradigm shift in health technology enablement. The culmination of our technology investments, partnerships and acquisitions in combination with the largest in workflow point of care network in the U.S., has created a robust single stop, total solution suite that is delivering care focused engagement between life science organizations, doctors and patients while driving a superior ROI for the brands that we serve. Looking ahead, we see our land and expand strategy continue to capture industry whi...