OPRX - OptimizeRx Provides an Update on the Timing of Earnings Call and Reaffirms Prior Revenue and Adjusted EBITDA Estimates for FY2023 | Benzinga
WALTHAM, Mass., March 11, 2024 (GLOBE NEWSWIRE) -- OptimizeRx Corp. (the "Company") (NASDAQ:OPRX), the leading provider of healthcare technology solutions helping life sciences companies reach and engage healthcare professional (HCPs) and patients, today provided an update on the anticipated timeline for its financial reporting and reaffirms prior revenue and adjusted EBITDA estimates for FY2023.
The Company is working to complete its year end close and audit processes by the filing deadline for non-accelerated, smaller reporting companies. As part of that work, the Company is finalizing its financial results and year end audit that includes its October 2023 acquisition of Healthy Offers, Inc. (dba Medicx Health), the November 2023 operational realignment to focus on core business lines, and performing further remediation of the previously disclosed material weakness related to the testing and validation of internal processes tied to certain third-party vendors more fully described in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2022.
The Company plans to hold a conference call on Thursday, March 28, 2024 to discuss its results for the fourth quarter and full-year periods ended December 31, 2023.
During the audit of Medicx Health, it was determined that certain revenue streams for messages executed through Medicx Health's channel partners, historically recognized on a gross basis, will now be recognized on a net basis. Consequently, the Company is updating its revenue guidance for this change and now anticipates revenue to be at least $100 million for 2024 as a result of this gross-to-net ...