OptimizeRx Reports Strong Fourth Quarter and Full Year 2024 Financial Results

Core Insights - OptimizeRx Corp. reported strong financial results for Q4 and full year 2024, exceeding expectations and consensus estimates, with a focus on leveraging its industry leadership to address critical challenges in the pharmaceutical sector [1][5][7] Financial Performance - Q4 revenue reached $32.3 million, a 14% increase year-over-year from $28.4 million in Q4 2023 [4][5] - Full year revenue for 2024 was $92.1 million, representing a 29% increase compared to $71.5 million in 2023 [5][21] - Q4 gross profit increased 23% year-over-year to $22.0 million, with a gross margin of 68% [4][5] - Full year gross profit totaled $59.4 million [5] - Non-GAAP net income for Q4 was $5.5 million, or $0.30 per diluted share, while for the full year it was $6.2 million, or $0.34 per diluted share [5][25] - Adjusted EBITDA for Q4 was $8.8 million, a 53% increase from $5.8 million in Q4 2023 [5][26] Key Performance Indicators - Average revenue per top 20 pharmaceutical manufacturer increased to $2.933 million in 2024 from $2.399 million in 2023 [2] - Net revenue retention improved to 121% in 2024 from 105% in 2023 [2] - The percentage of total revenue attributable to the top 20 pharmaceutical manufacturers was 64% in 2024, down from 67% in 2023 [2] Strategic Outlook - The company aims to achieve at least $100 million in revenue and an Adjusted EBITDA of at least $12 million for the full year 2025 [7] - A strategic focus on transitioning DAAP customers to a subscription-based model is expected to improve margins and reduce business cyclicality [1][5]