OptimizeRx Reaffirms Prior Revenue In The Range Of $68M-$70M Vs $69.85M Est. And Adjusted EBITDA Estimates For FY2023
Portfolio Pulse from Happy Mohamed
OptimizeRx Corp. (OPRX) reaffirmed its FY2023 revenue and adjusted EBITDA estimates in the range of $68M-$70M and $3M-$4M, respectively, consistent with prior guidance. The company is finalizing its year-end financials, including the impact of its acquisition of Medicx Health and operational realignment. A significant update includes the adjustment of revenue recognition from a gross to a net basis for Medicx Health's channel partners, leading to a revised 2024 revenue guidance of at least $100M, while maintaining the adjusted EBITDA guidance of over $11M for 2024. The company plans to discuss these results in a conference call on March 28, 2024.
March 11, 2024 | 8:35 pm
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OptimizeRx reaffirmed its FY2023 revenue and adjusted EBITDA estimates, with revenue expected to exceed $68M-$70M and adjusted EBITDA in the range of $3M-$4M. The company also updated its 2024 revenue guidance to at least $100M due to changes in revenue recognition practices, while maintaining its adjusted EBITDA guidance for 2024 at over $11M.
The reaffirmation of FY2023 revenue and adjusted EBITDA estimates indicates stability and meets prior expectations, likely viewed positively by investors. The significant upward revision of the 2024 revenue guidance, despite the change in revenue recognition, suggests growth potential and operational efficiency, potentially boosting investor confidence and stock price in the short term.
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