The following is a summary of the OptimizeRx Corporation (OPRX) Q1 2024 Earnings Call Transcript:

Financial Performance:

• OptimizeRx reported Q1 2024 revenues of $19.7 million, a 51% increase year-over-year, exceeding their pre-announced revenue range.

• Q1 2024 gross margin was 64%, up from 57.2% during the same period in 2023.

• Net loss for Q1 2024 totaled $6.9 million or $0.38 per share, compared with a net loss of $6.4 million or $0.37 per share in Q1 2023.

• The company generated $2.1 million operating cash flow for Q1 2024, ending the quarter with a cash balance of $15.2 million.

• The 2024 guidance is maintained with an expected revenue of at least $100 million and adjusted EBITDA of at least $11 million.

Business Progress:

• There's strong growth in the DAAP platform and the acquisition of Medicx Health contributed to top-line growth with nine new DAAP deals in Q1 2024.

• Net revenue retention rate improved to 116% from 86% in Q1 2023.

• Successfully integrated Medicx Health ahead of schedule which offers potential for cross-sales between HCP and DTC customer bases.

• Development of an AI-powered patient and HCP finder tool continues to allow for efficient marketing.

• AI technology usage is expected to increase with CRM and digital media communication channels.

• The company reported significant progress in late-stage negotiations for M&A activity.

• The recent consolidation of its commercial model, the expansion of the sales force, and improvements in client retention strategies have put OptimizeRx ahead of expectations.

More details: OptimizeRx IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.