Business
OptimizeRx Reports Second Quarter 2022 Financial Results, Innovative Platform Expansions Now Extends Reach to HCPs Across Social Media and Patients at Point-of-Dispense
Revenue Up 3% to $14.0 million, driven by new customer and program launchesIncrease in breadth and scope of brand deal size represents further momentum in the
About this update from Optimizerx Corporation
[{"type":"text","content":"Revenue Up 3% to $14.0 million, driven by new customer and program launchesIncrease in breadth and scope of brand deal size represents further momentum in the validation of our value propositionGenerated $4.4 million in cash flow from operations during the first half of 2022 ROCHESTER, Mich., Aug. 09, 2022 (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 three months ended June 30, 2022. Quarterly comparisons are to the same year-ago period. Rolling Twelve Months Ended June 30,Key Performance Indicators (KPIs)* 2022 2021 Average revenue per top 20 pharmaceutical manufacturer$2,389,969 $2,361,254 Percent of top 20 pharmaceutical manufacturers that are customers 95% 85%Percent of total revenue attributable to top 20 pharmaceutical manufacturers 71% 77%Net revenue retention 113% 170%Revenue per average full-time employee$661,319 $668,395 Financial Highlights Revenue in the second quarter of 2022 increased 3% to $14.0 million, from $13.6 million as compared to the same year ago period.Gross profit in the second quarter of 2022 increased 12% year-over-year to $9.0 million.GAAP net loss totaled $3.9 million or $(0.21) per basic and diluted share in the second quarter.Non-GAAP net loss in the second quarter totaled $0.7 million or $0.04 per basic and fully diluted shares outstanding. (see definition of this non-GAAP measure and reconciliation to GAAP, below).Cash and cash equivalents totaled $87.4 million as of June 30, 2022 as compared to $84.7 million as of December 31, 2021. Second Quarter and Recent Highlights In April, we completed the acquisition of EvinceMed, a specialty drug prescription initiation platform.Omni-channel platform reach is extended through an exclusive partnership with Equals 5. This new extension is the only healthcare provider (HCP)-level solution providing targeted physician engagement on social media platforms.Platform integration of TelaRep™ one-click prescriber connectivity solution completed. TelaRep allows doctors to text pharmaceutical representatives directly from within the electronic health record (EHR) platform and can now be accessed by over 200,000 in-network HCPs.Announced authorization of a share repurchase program, under which OptimizeRx may repurchase...