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

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