OPRX - OptimizeRx Preannounces Select Expected 2023 Financials and Provides a Business Update | Benzinga
WALTHAM, Mass., Jan. 09, 2024 (GLOBE NEWSWIRE) -- OptimizeRx Corp. (the "Company") (NASDAQ:OPRX), the leading provider of healthcare technology solutions helping life sciences companies reach and engage healthcare professionals (HCPs) and patients, today announced select preliminary unaudited financials for 2023 and is providing the following business update.
Preliminary Unaudited Financial Highlights and Business Update
- 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 ...