OptimizeRx(OPRX) - 2024 Q4 - Annual Results

Financial Performance - Q4 2024 revenue increased 14% year-over-year to $32.3 million, with full year revenue reaching $92.1 million, a 29% increase compared to 2023[3] - Q4 gross profit rose 23% year-over-year to $22.0 million, resulting in a gross margin of 68%[3] - Net revenue for the year ended December 31, 2024, increased to $92,127 million, up from $71,522 million in 2023, representing a growth of 28.8%[23] - Gross profit for the year ended December 31, 2024, was $59,378 million, compared to $42,900 million in 2023, reflecting a 38.4% increase[23] - Adjusted EBITDA for Q4 2024 was $8.8 million, a 53% increase from $5.8 million in Q4 2023, with full year Adjusted EBITDA at $11.7 million[7] - Adjusted EBITDA for the year ended December 31, 2024, was $11,730 million, compared to $3,574 million in 2023, representing a significant increase[29] - Non-GAAP net income for the year ended December 31, 2024, was $6,162 million, up from $4,425 million in 2023, showing a growth of 39.3%[29] Loss and Expenses - GAAP net loss for Q4 2024 was $(0.1) million, or $0.00 per share, while the full year net loss totaled $(20.1) million, or $(1.10) per share[7] - The net loss for the year ended December 31, 2024, was $20,110 million, compared to a net loss of $17,566 million in 2023, indicating a deterioration of 8.8%[23] - Total operating expenses for the year ended December 31, 2024, were $73,084 million, an increase from $69,302 million in 2023, marking a rise of 5.4%[23] - Stock-based compensation for the year ended December 31, 2024, was $11,467 million, down from $13,717 million in 2023, indicating a reduction of 16.4%[26] Cash Flow and Liquidity - Cash and cash equivalents as of December 31, 2024, were $13.4 million, with net cash provided by operating activities at $4.9 million for the year[7] - Cash provided by operating activities for the year ended December 31, 2024, was $4,889 million, a recovery from cash used of $7,240 million in 2023[26] - The company reported a cash and cash equivalents balance of $13,380 million at the end of the period, down from $13,852 million at the beginning of the period[26] Customer and Market Insights - Net revenue retention improved to 121% in 2024, up from 105% in 2023[2] - Average revenue per top 20 pharmaceutical manufacturer increased to $2,933,000 in 2024 from $2,399,000 in 2023[2] - The company generated revenue from 48 DAAP deals in 2024, up from 24 in 2023[3] - The company aims to transition DAAP customers to a subscription-based model to improve margins and reduce business cyclicality[2] Future Outlook - The company expects full year 2025 revenue to be at least $100 million, with Adjusted EBITDA of at least $12 million[5] - The weighted average number of shares outstanding for the year ended December 31, 2024, was 18,292,935, compared to 17,124,801 in 2023, reflecting an increase in shares[23]