OptimizeRx ContactAndy D’Silva, SVP Corporate Financeadsilva@optimizerx.com Investor Relations ContactSteven HalperLifeSci Advisors, LLCshalper@lifesciadvisors.com OPTIMIZERX CORPORATIONCONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share data) March 31,2025 December 31,2024ASSETS(unaudited) Current assets Cash and cash equivalents$16,573 $13,380 Accounts receivable, net of allowance for credit losses of $335 at March 31, 2025 and December 31, 2024 32,720 38,212 Taxes receivable 113 — Prepaid expenses and other 2,305 2,379 Total current assets 51,711 53,971 Property and equipment, net 150 150 Other assets Goodwill 70,869 70,869 Patent rights, net 5,349 5,517 Technology assets, net 7,931 8,180 Tradename and customer relationships, net 31,226 31,819 Operating lease right of use assets 303 366 Security deposits and other assets 229 296 Total other assets 115,907 117,047 TOTAL ASSETS$167,768 $171,168 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities Current portion of long-term debt$3,300 $2,000 Accounts payable 3,381 2,156 Accrued expenses 9,277 8,486 Revenue share payable 1,743 5,053 Taxes payable — 318 Current portion of lease liabilities 139 168 Deferred revenue 511 473 Total current liabilities 18,351 18,654 Non-current liabilities Long-term debt, net 29,190 30,816 Lease liabilities, net of current portion 171 209 Deferred tax liabilities, net 3,786 4,491 Total liabilities 51,498 54,170 Stockholders’ equity Preferred stock, $0.001 par value, 10,000,000 shares authorized, none issued and outstanding at March 31, 2025 or December 31, 2024 — — Common stock, $0.001 par value, 166,666,667 shares authorized, 20,234,186 and 20,194,697 shares issued at March 31, 2025 and December 31, 2024, respectively 20 20 Treasury stock, $0.001 par value, (1,741,397) shares held at March 31, 2025 and December 31, 2024 (2) (2)Additional paid-in-capital 202,819 201,348 Accumulated deficit (86,567) (84,368)Total stockholders’ equity 116,270 116,998 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY$167,768 $171,168 OPTIMIZERX CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except share and per share data, unaudited) For the Three Months EndedMarch 31, 2025 2024 Net revenue$21,928 $19,690 Cost of revenues, exclusive of depreciation and amortization presented separately below 8,584 7,486 Gross profit 13,344 12,204 Operating expenses General and administrative expenses 14,364 16,166 Depreciation and amortization 1,094 1,067 Total operating expenses 15,458 17,233 Loss from operations (2,114) (5,029)Other income (expense) Interest expense (1,297) (1,546)Other income 39 — Interest income 88 20 Total other expense, net (1,170) (1,526)Loss before provision for income taxes (3,284) (6,555)Income tax benefit (expense) 1,085 (344)Net loss$(2,199) $(6,899)Weighted average number of shares outstanding – basic 18,470,808 18,170,108 Weighted average number of shares outstanding – diluted 18,470,808 18,170,108 Loss per share – basic$(0.12) $(0.38)Loss per share – diluted$(0.12) $(0.38) OPTIMIZERX CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(in thousands, unaudited) For the Three Months EndedMarch 31, 2025 2024CASH FLOWS FROM OPERATING ACTIVITIES: Net loss$(2,199) $(6,899)Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation and amortization 1,094 1,067 Stock-based compensation 1,558 3,024 Bad debt reserve — 132 Amortization of debt issuance costs 174 182 Changes in: Accounts receivable 5,492 6,373 Prepaid expenses and other assets 74 800 Accounts payable 1,225 (562)Revenue share payable (3,310) (2,692)Accrued expenses and other liabilities 854 (362)Taxes receivable and payable (431) 323 Deferred tax liabilities (705) — Deferred revenue 38 732 NET CASH PROVIDED BY OPERATING ACTIVITIES 3,864 2,118 CASH FLOWS USED IN INVESTING ACTIVITIES: Purchase of property and equipment (27) (32)Capitalized software development costs (57) (121)NET CASH USED IN INVESTING ACTIVITIES (84) (153) CASH FLOWS USED IN FINANCING ACTIVITIES: Cash paid for employee withholding taxes related to the vesting of restricted stock units (87) (140)Repayment of long-term debt (500) (500)NET CASH USED IN FINANCING ACTIVITIES (587) (640)NET INCREASE IN CASH AND CASH EQUIVALENTS 3,193 1,325 CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD 13,380 13,852 CASH AND CASH EQUIVALENTS - END OF PERIOD$16,573 $15,177 SUPPLEMENTAL CASH FLOW INFORMATION: Cash paid for interest$1,121 $1,350 Cash paid for income taxes$— $21 OPTIMIZERX CORPORATIONRECONCILIATION of GAAP to NON-GAAP FINANCIAL MEASURES(in thousands, except share and per share data, unaudited) This earnings release includes certain financial measures not derived in accordance with generally accepted accounting principles (GAAP).
Financial Highlights Revenue in the first quarter of 2025 increased 11% to $21.9 million, as compared to $19.7 million in the same year ago periodGross profit in the first quarter of 2025 increased 9% year-over-year to $13.3 million, from $12.2 million during the first quarter of 2024GAAP net loss totaled $(2.2) million or $(0.12) per basic and diluted share in the first quarter of 2025, as compared to $(6.9) million or $(0.38) per basic and diluted share during the first quarter of 2024Non-GAAP net income in the first quarter totaled $1.5 million or $0.08 per diluted share, as compared to Non-GAAP net loss of $(2.0) million or $(0.11) per diluted share during the first quarter of 2024 (see *Non-GAAP Measures below)Adjusted EBITDA for the first quarter of 2025 increased to $1.5 million compared to $(0.3) million in the same year ago period (see *Non-GAAP Measures below)Cash, cash equivalents and short-term investments totaled $16.6 million as of March 31, 2025, as compared to $13.4 million as of December 31, 2024 Stephen L.
Q1 revenue of $21.9 million, increasing 11% year-over-yearQ1 gross profit increased 9% year-over-year to $13.3 millionIncreases full year 2025 guidance to a revenue range between $101 million and $106 million and adjusted EBITDA range between $13 million and $15 million WALTHAM, Mass., May 12, 2025 (GLOBE NEWSWIRE) -- OptimizeRx Corp.(the "Company”) (Nasdaq: OPRX), a leading provider of healthcare technology solutions helping life sciences companies reach and engage healthcare professionals (HCPs) and patients, today reported results for the three months ended March 31, 2025.
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