Optimizerx Corp Stock Price, News & Analysis

OptimizeRx Corp. (Nasdaq: OPRX) announced securing two new enterprise-level SaaS engagements, one from a new client and another transitioning from a legacy system, averaging an annual contract value of $3.6 million. The company highlights strong revenue potential from converting legacy clients to its enterprise platform, estimating over $100 million in upsell opportunities. CEO William Febbo noted the increasing demand for their digital health solutions amid COVID-19, enhancing communication among pharmaceutical companies, healthcare providers, and patients, thereby improving medication affordability and adherence.

OptimizeRx Corp. (Nasdaq: OPRX) has appointed UHY LLP as its new auditor effective June 22, 2020. This change aims to enhance audit efficiency, particularly by reducing travel costs in light of COVID-19. The company reported two previous weaknesses in internal control, which have not impacted financial results. OptimizeRx has also renewed its membership in the Russell Microcap and 3000 Indexes, signifying growth and visibility in the market. CEO William Febbo noted this growth comes alongside record Q1 results and an increasing customer base with major health systems and pharmaceutical companies.

OptimizeRx Corp. (NASDAQ: OPRX) has expanded its digital communication platform by partnering with over 300 health systems and 75,000 healthcare providers using Epic and Cerner EHRs. This partnership will enhance immediate access to real-time patient savings information, aiming to address medication non-adherence, which costs the healthcare system $528 billion annually. The expansion connects OptimizeRx to an additional 120 million patients, increasing its network reach to over 675,000 prescribers. This growth represents an 11% increase in the largest point-of-prescribe network focused on improving treatment adherence.

OptimizeRx Corp. (Nasdaq: OPRX), a digital health leader, will present at William Blair & Company’s 40th Annual Growth Stock Conference from June 9-11, 2020. CEO William Febbo is set to speak on June 10 at 9:20 a.m. Central time, highlighting the company's record Q1 results and the relevance of its platform during COVID-19. The presentation will be live-streamed for institutional clients.

OptimizeRx Corp. (Nasdaq: OPRX) has been invited to present at RBC Capital Markets' virtual Global Healthcare Conference on May 19-20, 2020. CEO William Febbo will present on May 19 at 8:35 a.m. ET, covering the company’s record Q1 results and its digital health network, which reaches 60% of the ambulatory market. The conference will explore healthcare innovation post-COVID-19. Institutional clients of RBC can attend, and the presentation will be available for live viewing on the investor's website.

OptimizeRx Corp. (Nasdaq: OPRX) has announced the launch of a new health app by True™ Women’s Health, leveraging its RMDY digital health tools. The app aims to deliver virtual care and patient support, facilitating nationwide treatment during the COVID-19 pandemic. Dr. Diana Bitner highlighted its role in managing menopause, a key health concern for women. The app features educational resources, tracking, and telehealth consultations, promoting patient engagement. OptimizeRx’s tools are recognized for enhancing adherence in multiple health management areas, thus contributing to improved health outcomes.

OptimizeRx Corp. (NASDAQ: OPRX) announced that its Chief Commercial Officer, Steve Silvestro, received the 2020 PM360 ELITE 100 Award, recognizing his leadership in the healthcare sector. This prestigious award celebrates influential figures in healthcare, especially during the ongoing challenges posed by the COVID-19 pandemic. Silvestro was distinguished for his transformational leadership, enhancing organizational change and driving the growth of OptimizeRx's digital health platform. The award reflects his commitment to improving healthcare outcomes for stakeholders.

OptimizeRx Corp. (Nasdaq: OPRX) will participate in the Bank of America Merrill Lynch Health Care conference from May 12-14, 2020. CEO William Febbo is set to present on May 13 at 3:00 p.m. ET, discussing the company's record Q1 results, its extensive client base including the top 20 pharmaceutical companies, and its role in improving health outcomes via its digital health network, which reaches 60% of the U.S. ambulatory market. The event is exclusive to institutional clients and will feature opportunities for one-on-one meetings.

OptimizeRx Corp. (Nasdaq: OPRX) reported a remarkable 46% revenue increase for Q1 2020, reaching a record $7.6 million. Gross profit also rose by 20% to $4.3 million, though gross margin declined to 57.3% due to a favorable product mix last year. Operating expenses surged to $6.6 million, leading to a net loss of $2.2 million ($0.15 per share). The company is transitioning to a recurring revenue model with significant enterprise engagements. Cash reserves stood at $15.2 million. Management remains optimistic about growth amid increasing demand for digital health solutions.