Financial Data and Key Metrics Changes - Q2 2025 revenues increased by 55% year over year to $29.2 million, with adjusted EBITDA at $5.8 million, an improvement of over $5 million year over year [3][11] - Gross margin increased from 62.2% in Q2 2024 to 63.8% in Q2 2025, attributed to a favorable product mix and economies of scale [10][11] - Net income for Q2 2025 was $1.5 million, compared to a net loss of $4 million in Q2 2024 [11] Business Line Data and Key Metrics Changes - Average revenue per top 20 pharmaceutical manufacturer is now $3.1 million, with a net revenue retention rate of 121% [13] - Average revenue over the last twelve months for the largest five customers is over $11 million [6] Market Data and Key Metrics Changes - Contracted revenue increased by more than 30% year over year, indicating strong market demand [4][34] - The company is positioned uniquely in the market, capable of engaging providers and patients at scale, leveraging a large point of care network [7][8] Company Strategy and Development Direction - The company is focused on operational excellence and strengthening relationships with business partners, aiming for sustainable long-term shareholder growth [3][6] - A key focus will be on addressing commercialization challenges in the pharmaceutical industry, including improving brand visibility and reducing script abandonment [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving updated revenue guidance of $104 million to $108 million for the year, with promising initial indications for 2026 [4][5] - The company is not expecting to access equity capital markets for the foreseeable future due to strong free cash flow [5] Other Important Information - The company paid down $4.5 million of principal during Q2, exceeding its debt payment schedule by $4 million [5][12] - The company is committed to maintaining a healthy balance sheet to support operational goals [12] Q&A Session Summary Question: Revenue cadence and outliers in Q2 - Management acknowledged some managed service revenue contributed to Q2 results but maintained that guidance remains conservative and achievable [16][18] Question: Operating expenses sustainability - Management indicated that operating expenses are expected to remain flat in the second half of the year, reflecting operational leverage [20][22] Question: Growth in non-top 20 revenues - Management confirmed that revenues from non-top 20 clients are growing faster, with mid-sized accounts contributing positively [23][24] Question: Contracted revenue details - Management stated that contracted revenue is a blend of HCP and DTC business, both growing solidly, with no significant changes in contract lengths [34][35] Question: Subscription revenue percentage - Management indicated that subscription revenue is projected to reach about 10% for the year, assuming pipeline conversions [43] Question: Visibility on contracted revenue - Management confirmed contracted revenue is up 30% year over year, providing confidence in guidance for the fourth quarter [48][50] Question: Impact of managed services on Q2 performance - Management clarified that while managed services contributed to Q2, it was not the primary driver of performance [51][53] Question: Operating expenses and growth leverage - Management expects to maintain current operating expenses while being able to support significant revenue growth without major increases in headcount [55][56] Question: Pharma industry trends - Management noted that pharma companies are focusing on efficient revenue generation and are increasingly leaning into digital channels [58][60] Question: Pull forward of spending - Management reported no signs of pull forward in revenue but noted earlier engagement in planning for the second half [64][66]