OptimizeRx ContactAndy D’Silva, SVP Corporate Financeadsilva@optimizerx.com Investor Relations ContactSandya von der WeidLifeSci Advisors, LLCsvonderweid@lifesciadvisors.com OPTIMIZERX CORPORATIONCONSOLIDATED BALANCE SHEETS (in thousands except share and per share data) December 31, 2024 2023 ASSETS Current Assets Cash and cash equivalents$13,380 $13,852 Accounts receivable, net of allowance for credit losses of $335 and $239 at December 31, 2024 and 2023, respectively 38,212 36,253 Taxes receivable — 1,036 Prepaid expenses and other 2,379 3,190 Total Current Assets 53,971 54,331 Property and equipment, net 150 149 Other Assets Goodwill 70,869 78,357 Patent rights, net 5,517 6,185 Technology assets, net 8,180 9,013 Tradename and customer relationships, net 31,819 34,198 Operating lease right-of-use assets 366 573 Security deposits and other assets 296 568 Total Other Assets 117,047 128,894 TOTAL ASSETS$171,168 $183,374 LIABILITIES AND STOCKHOLDERS’ EQUITY Current Liabilities Current portion of long-term debt$2,000 $2,000 Accounts payable – trade 2,156 2,227 Accrued expenses 8,486 7,706 Revenue share payable 5,053 5,506 Taxes payable 318 49 Current portion of lease liabilities 168 222 Deferred revenue 473 172 Total Current Liabilities 18,654 17,882 Non-Current Liabilities Long-term debt, net 30,816 34,231 Lease liabilities, net of current portion 209 371 Deferred tax liabilities, net 4,491 4,337 Total Liabilities 54,170 56,821 Commitments and contingencies Stockholders’ Equity Preferred stock, $0.001 par value, 10,000,000 shares authorized, none issued and outstanding at December 31, 2024 and 2023, respectively — — Common stock, $0.001 par value, 166,666,667 shares authorized, 20,194,697 and 19,899,679 shares issued at December 31, 2024 and 2023, respectively 20 20 Treasury stock, $0.001 par value,1,741,397 shares purchased at December 31, 2024 and 2023 (2) (2)Additional paid-in-capital 201,348 190,793 Accumulated deficit (84,368) (64,258)Total Stockholders’ Equity$116,998 $126,553 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY$171,168 $183,374 OPTIMIZERX CORPORATIONCONSOLIDATED STATEMENTS OF OPERATIONS (in thousands except share and per share data) For the Three Months Ended December 31, For the Year Ended December 31, 2024 2023 2024 2023 Net revenue$32,317 $28,369 $92,127 $71,522 Cost of revenues, exclusive of depreciation and amortization presented separately below 10,293 10,528 32,749 28,622 Gross profit 22,024 17,841 59,378 42,900 Operating Expenses Stock-based compensation 2,937 2,627 11,467 13,717 Loss on disposal of a business — 2,142 — 2,142 Depreciation and amortization 1,094 1,006 4,329 2,402 Impairment charges — 6,738 7,489 6,738 Other sales, general and administrative expenses 14,358 16,231 49,799 44,303 Total operating expenses 18,389 28,744 73,084 69,302 Loss from operations 3,635 (10,903) (13,706) (26,402)Other income (expense) Interest expense (1,563) (1,454) (6,160) (1,454)Other income 41 500 153 500 Interest income 96 118 328 2,192 Total other income (expense), net (1,426) (836) (5,679) 1,238 Income (loss) before provision for income taxes 2,209 (11,739) (19,385) (25,164)Income tax (expense) benefit (2,286) 7,598 (725) 7,598 Net loss$(77) $(4,141) $(20,110) $(17,566)Weighted average number of shares outstanding – basic 18,418,519 17,769,670 18,292,935 17,124,801 Weighted average number of shares outstanding – diluted 18,418,519 17,769,670 18,292,935 17,124,801 Loss per share – basic$— $(0.23) $(1.10) $(1.03)Loss per share – diluted$— $(0.23) $(1.10) $(1.03) OPTIMIZERX CORPORATIONCONSOLIDATED STATEMENTS OF CASH FLOWS(in thousands) For the Year Ended December 31, 2024 2023 CASH FLOWS FROM OPERATING ACTIVITIES: Net loss$(20,110) $(17,566)Adjustments to reconcile net loss to net cash provided by / (used in) operating activities: Depreciation and amortization 4,329 2,402 Impairment charges 7,489 6,738 Loss on disposal of business — 2,142 Bad debt expense 209 666 Stock-based compensation 11,466 13,717 Amortization of debt issuance costs 835 211 Change in: Accounts receivable (2,168) (8,713)Prepaid expenses and other assets 811 (573)Accounts payable (72) (1,320)Revenue share payable (453) 1,515 Accrued expenses and other liabilities 1,053 1,303 Deferred tax liabilities 1,449 (7,695)Deferred loan fees (250) Deferred revenue 301 (67)NET CASH PROVIDED BY / (USED IN) OPERATING ACTIVITIES 4,889 (7,240) CASH FLOWS USED IN INVESTING ACTIVITIES: Purchases of property and equipment (112) (87)Proceeds from sale of property and equipment — 10 Cash paid for acquisitions, net of cash acquired — (82,947)Proceeds from sale of business — 2,540 Purchase of short-term investments — (162,778)Redemptions of short-term investments — 218,709 Capitalized software development costs and other (338) (784)NET CASH USED IN INVESTING ACTIVITIES (450) (25,337) CASH FLOWS (USED IN) / PROVIDED BY FINANCING ACTIVITIES: Proceeds from long-term debt, net of issuance costs — 37,730 Repayment of long-term debt (4,000) (1,710)Repurchase of common stock — (7,522)Cash paid for employee withholding taxes related to the vesting of restricted stock units (911) — Proceeds from exercise of stock options, net of cash paid for withholding taxes — (278)NET CASH (USED IN) / PROVIDED BY FINANCING ACTIVITIES (4,911) 28,220 NET DECREASE IN CASH AND CASH EQUIVALENTS (472) (4,357)CASH AND CASH EQUIVALENTS – BEGINNING OF PERIOD 13,852 18,209 CASH AND CASH EQUIVALENTS – END OF PERIOD$13,380 $13,852 SUPPLEMENTAL CASH FLOW INFORMATION: Cash paid for interest$6,203 $1,213 ROU assets obtained in exchange for lease obligations$— $460 Shares issued in connection with acquisition$— $12,091 Cash paid for income taxes$161 $48 OPTIMIZERX CORPORATIONRECONCILIATION of NON-GAAP to GAAP FINANCIAL MEASURES(in thousands, except share and per share data) This earnings release includes certain financial measures not derived in accordance with generally accepted accounting principles (GAAP).
Q4 revenue of $32.3 million, increasing 14% year-over-yearQ4 gross profit increased 23% year-over-year to $22.0 million with gross margin of 68%Company generated revenue from 48 DAAP deals in 2024, up from 24 in 2023 WALTHAM, Mass., March 12, 2025 (GLOBE NEWSWIRE) -- OptimizeRx Corp.(the "Company”) (Nasdaq: OPRX), a leading provider of healthcare technology solutions helping life sciences companies reach and engage healthcare professionals (HCPs) and patients, today announced results for the fourth quarter and full year ended December 31, 2024. For the Year EndedDecember 31,Key Performance Indicators (KPIs)* 2024 2023 (in thousands, except percentages)Average revenue per top 20 pharmaceutical manufacturer$2,933 $2,399 Percent of top 20 pharmaceutical manufacturers that are customers 100% 100%Percent of total revenue attributable to top 20 pharmaceutical manufacturers 64% 67%Net revenue retention 121% 105%Revenue per average full-time employee$701 $586 Stephen L.
All statements that reflect the Company’s expectations, assumptions, projections, beliefs or opinions about the future, other than statements of historical fact, are forward-looking statements, including, without limitation, statements relating to the Company’s growth, business plans, future performance, expected revenues, expected Adjusted EBITDA, plans to grow shareholder value creation, plans to continue the Company’s growth and transformation, plans for unlocking new opportunities for profitable revenue growth, plans for expanding the Company’s value proposition with pharma, plans to position the Company to become a "Rule of 40” company, plans for forging stronger relationships with valued business partners, other business plans and operating and financial performance objectives, and other statements relating to future performance, plans, and expectations.
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