Business
OptimizeRx’s CEO Provides 2023 Midyear Strategic Update
A leading suite of pharma tech solutions combined with deep brand penetration is driving revenue growth, resulting in improved profitability and KPIs through
About this update from Optimizerx Corporation
[{"type":"text","content":"A leading suite of pharma tech solutions combined with deep brand penetration is driving revenue growth, resulting in improved profitability and KPIs through the remainder of 2023 and beyondWith a comprehensive, digitally enabled enterprise point-of-care solution, the OptimizeRx platform now reaches 600 thousand health care professionals (HCPs) through point-of-care channels, 90% of all health system intranet/web portals, and over 2 million HCPs via social media2023 guidance of at least a 10% increase in revenue is reaffirmed as midyear backlog visibility improves year-over-year to 60-70% of full year revenuesExpected achievement of revenue between $100 - $120 million within the next 18 to 24 months with 20% adjusted EBITDA marginsDebt free balance sheet with approximately $75 million in cash$15 million share buyback program in place and active in recognition of undervalued share price ROCHESTER, Mich., May 24, 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, provides a 2023 mid-year strategic update commenting on: 1) current revenue backlog, 2) strategic roadmap with key pillars of growth, and 3) long term financial performance aspirations through steady buildout of scalable, future proofed, enterprise solution suite. Dear OptimizeRx Shareholders, Although we reported our financial earnings recently, I wanted to share in more detail what has me excited about our prospects. We re-founded the Company in 2016 with a driving, compulsive obsession — to empower life science organizations with the ability to nurture brand engagement with prescribers and patients alike. Our efforts to fulfill this mission have resulted in the buildout of a sophisticated, integrated suite of tech-enabled solutions operating at multiple touch points within the point of care. Our capabilities today are both far reaching and refined as compared to our early days as a start-up, with a single, standalone affordability messaging product. Midyear revenue backlog Today, our mission and passion continue to power drug maker brand awareness with prescribing physicians through patient treatment initiation, affordability and adherence. These efforts are packaged in a comprehensive, best-in-class enterprise solutions suite. Having finished the...