OptimizeRx Corporation (NASDAQ:OPRX) provides technology for the pharmaceutical industry world-wide. Specifically, OptimizeRX aims to create technology that connects patients, physicians and pharmaceutical manufacturers. They also own OPTIMIZERx.com which is a healthcare savings portal for patients to assess various healthcare and prescription savings programs.
In reaction to their 2nd Quarters results, OptimizeRx has rose nearly 18% on the day! In the past four months, OPRX has rose over 180% from under $5.00 to now being valued over $11 a share. Let’s dive in and see exactly what-is-what in this Q2 report.
The most notable figure is OptimizeRx increase in net revenue which is increased 78% to $5.1 million, a new record for the company. In addition to net revenue increasing, gross margins have increased as well from 44% to 56.1% this quarter, showing the company and management are working smarter. Also, earnings per share is now positive sitting at $0.02 per diluted share.
Besides great financial news, OptimizeRX also has some operation highlights to go over, such as their up-listing to the NASDAQ Capital Market. New partnerships with Patient Connect have formed to being digital health messaging all across Europe. OptimizeRX has also signed a few new pharmaceutical brands to distribute digital health messaging through their network.
In a comment from the CEO at OptimizeRX, William Febbo, the company mentioned that this growth can be accounted for by their success in “adding new pharmaceutical brands, growing our digital health messaging revenue and expanding our distribution channels.”
As for the second half of 2018, CEO William Febbo states that their focus remains on “revenue generation from our core products and expanding our channel and partner networks both domestically and internationally,” in hopes to continue their recent gross margin improvements.
OptimizeRX also raised $9 million in private placement, which they plan to use to “make additional sales and channel investments for expanding further into our core ambulatory market.