OptimizeRx Expects Q4 2020 Revenue up 117% to Record $16 Million, Full Year up 75% to Record $43 Million
25 Januar 2021 - 1:31PM
OptimizeRx Corp. (Nasdaq: OPRX), a leading provider of digital
health solutions for life science companies, physicians and
patients, reported preliminary unaudited results for its fourth
quarter and full year ended December 31, 2020.
For the fourth quarter, the company expects record revenue of
approximately $16 million, up 117% versus the fourth quarter of
2019, along with positive GAAP net income. The record revenue was
primarily driven by strong organic growth in messaging and patient
engagement solutions.
For the full year, the company expects record revenue of
approximately $43 million, up 75% over 2019.
“Our fourth quarter showed a strong finish to a great year of
growth and market expansion, with this largely driven by life
science companies increasingly using our nationwide digital health
network to engage providers and patients at key touchpoints along
the care journey,” stated OptimizeRx CEO Will Febbo. “This access
became increasingly important throughout the year and has long-term
durability due to a sustainable shift in customer needs, as the
industry transitions to greater adoption of digital communication
solutions for clinical and commercial activities.”
“Our teams also delivered across all fronts, while developing
innovative customer solutions designed to provide new organic
revenue streams in 2021 and beyond,” continued Febbo. “We now have
a fully integrated, highly scalable and compliant platform that
integrates real-time, real-world data with AI and important voice
tools. Our unique value proposition has never been stronger, and
this is evident in our results.”
In 2020, OptimizeRx maintained a high client renewal rate while
adding 60 new brands. Steve Silvestro, the company’s chief
commercial officer, commented: “A high contract renewal rate and
the increasing demand for effective digital provider and patient
engagement solutions have fueled our growth. We began the new year
with a sales pipeline of around $170 million, and it is showing a
continued shift toward enterprise-level engagements that generate
recurring revenue streams. Altogether, we expect another very
strong year of growth ahead.”
The company plans to report its full fourth quarter and full
year 2020 results in late February.
About OptimizeRxOptimizeRx is a digital health
company that provides communications solutions for life science
companies, physicians and patients. Connecting over half of
healthcare providers in the U.S. and millions of patients through a
proprietary network, the OptimizeRx digital health platform helps
patients afford and stay on medications. The platform unlocks new
patient and physician touchpoints for life science companies along
the patient journey, from point-of-care, to retail pharmacy,
through mobile patient engagement.
For more information, follow the company
on Twitter, LinkedIn or
visit www.optimizerx.com.
Important Cautions Regarding Forward Looking
StatementsThis press release contains forward-looking
statements within the definition of Section 27A of the Securities
Act of 1933, as amended, and such as in section 21E of the
Securities Act of 1934, as amended. These forward-looking
statements should not be used to make an investment decision. The
words 'estimate,' 'possible' and 'seeking' and similar expressions
identify forward-looking statements, which speak only as to the
date the statement was made. The company undertakes no obligation
to publicly update or revise any forward-looking statements,
whether because of new information, future events, or otherwise.
Forward-looking statements are inherently subject to risks and
uncertainties, some of which cannot be predicted, or quantified.
Future events and actual results could differ materially from those
set forth in, contemplated by, or underlying the forward-looking
statements. The risks and uncertainties to which forward-looking
statements are subject include, but are not limited to, the effect
of government regulation, competition and other material risks.
Definition and Use of Non-GAAP Financial
MeasuresThis press release includes a presentation of
non-GAAP net income (loss) and non-GAAP earnings (loss) per share
or non-GAAP EPS, both of which are non-GAAP financial measures.
The company defines non-GAAP net income (loss) as GAAP net
income (loss) with an adjustment to add back depreciation,
amortization, non-cash lease expense, stock-based compensation,
acquisition expenses, income or loss related to the fair value of
contingent consideration, and deferred income taxes. Non-GAAP EPS
is defined as non-GAAP net income (loss) divided by the number of
weighted average shares outstanding on a basic and diluted basis.
The company has provided non-GAAP financial measures to aid
investors in better understanding its performance. Management
believes that these non-GAAP financial measures provide additional
insight into the operations and cashflow of the company.Because of
varying available valuation methodologies, subjective assumptions
and the variety of equity instruments that can impact a company’s
non-cash operating expenses, management believes that providing
non-GAAP financial measures that excludes non-cash expenses allows
for meaningful comparisons between the company’s core business
operating results and those of other companies, as well as provides
an important tool for financial and operational decision making and
for evaluating the company’s own core business operating results
over different periods of time.
The company’s non-GAAP net income (loss) and non-GAAP EPS
measures may not provide information that is directly comparable to
that provided by other companies in the company’s industry, as
other companies in the industry may calculate such non-GAAP
financial results differently. The company’s non-GAAP net income
(loss) and non-GAAP EPS are not measurements of financial
performance under GAAP and should not be considered as an
alternative to operating income or as an indication of operating
performance or any other measure of performance derived in
accordance with GAAP. The company does not consider these non-GAAP
measures to be substitutes for or superior to the information
provided by its GAAP financial results.
OptimizeRx Contact Doug Baker, CFOTel
(248) 651-6568 (x807)dbaker@optimizerx.com
Media Relations Contact Maira Alejandra,
Media Relations ManagerTel (754)
245-7070 malejandra@optimizerx.com
Investor Relations Contact Ron Both,
CMA Tel (949) 432-7557 oprx@cma.team
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