The following is a summary of the OptimizeRx Corporation (OPRX) Q3 2024 Earnings Call Transcript:

Financial Performance:

• OptimizeRx reported a Q3 revenue of $21.3 million, a 30% increase year-over-year.

• The company expects 2024 annual revenue to range between $88 million and $92 million, with adjusted EBITDA between $8 million and $10 million.

• Gross margin improved from 60% in Q3 2023 to 63.1% in Q3 2024, supported by DAAP-related revenue and a favorable channel partner mix.

• Despite higher operating expenses due to the Medicx Health acquisition and a $7.5 million goodwill impairment, significant cost-cutting initiatives saved about $5 million annually.

• Net loss was $9.1 million for Q3 2024, compared to a net loss of $2.9 million in Q3 2023.

Business Progress:

• OptimizeRx is focusing on the self-service model and micro-neighborhood targeting in its DTC business, experiencing a notable increase in customer engagements.

• The company has added several EHR partners, increasing its point-of-care network and expanding direct integrations with leading publishers and media partners.

• DAAP has been integrated into OptimizeRx's omnichannel network, offering AI-directed capabilities that are expected to drive significant market share and highly profitable growth.

Opportunities:

• The shift towards self-service and micro-neighborhood targeting in the DTC business, supported by a patent-protected solution, is anticipated to drive growth.

• Regulatory compliance demands are expected to rise nationwide, positioning OptimizeRx favorably with its compliant method.

• Continued investment in AI and data capabilities is projected to secure a significant market share over the coming quarters.

Risks:

• The decline in managed services revenue could impact short-term growth, although it is mitigated by the shift to a potentially more profitable self-service model.

• Economic uncertainties and market shifts could affect client spending and buying behaviors.

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