OPRX - OptimizeRx Corporation (OPRX) Q1 2024 Earnings Call Transcript

2024-05-14 23:21:09 ET

OptimizeRx Corporation (OPRX)

Q1 2024 Earnings Conference Call

May 14, 2024, 02:30 PM ET

Company Participants

William Febbo - CEO

Edward Stelmakh - CFO

Steve Silvestro - President

Andrew D'Silva - SVP of Corporate Finance

Conference Call Participants

Ryan Daniels - William Blair

Eric Martinuzzi - Lake Street

David Grossman - Stifel

Constantine Davides - Citizen JMP

Stephanie Davis - Barclays

William Wood - B. Riley Securities

Presentation

Operator

Good afternoon, everyone, and thank you for joining OptimizeRx's First Quarter Fiscal 2024 Earnings discussion. With us today is the Chief Executive Officer of OptimizeRx, William Febbo. He is joined by Chief Financial Officer, Ed Stelmakh; President, Steve Silvestro; General Counsel, Marion Odense Ford; and Senior Vice President of Corporate Finance, Andrew D'Silva. At the conclusion of today's earnings call, I will provide some important cautions regarding the forward-looking statements made by management during today's call.

I would like to remind everyone that today's call is being recorded and will be made available for replay via webcast only. Instructions are included in today's press release and in the Investors section of the company's website.

Now I would like to turn the call over to OptimizeRx's CEO, William Febbo. Sir, please go ahead.

William Febbo

Thank you, operator, and good afternoon to everyone joining today's first quarter 2024 earnings call. I'm delighted to share today's results, which came in ahead of our April 26 preliminary unaudited earnings announcement.

Momentum from Q4 2023 has continued into 2024, with Q1 revenues increasing 51% year-over-year to $19.7 million, which topped the high end of our preannounced revenue range. Growth is being driven by favorable competitive dynamics. We are seeing stronger customer engagement as pharma is looking for partners with integrated precision offerings that have true scalability in terms of HCP and DTC reach, interoperability across multiple points of care and capability to accurately report insights back in a timely manner....

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