OptimizeRx Corporation Says 1Q24 Revenue Expected To Grow Over 40% YoY And Come In Between $18.5M-$19.2M Vs. $17.03M Estimate; Company Says DAAP Adoption And Cross Selling Activities Are Tracking Ahead Of Internal Expectations
Portfolio Pulse from Benzinga Newsdesk
OptimizeRx Corporation (OPRX) forecasts a significant revenue increase of over 40% YoY for 1Q24, expecting to achieve $18.5M-$19.2M, surpassing the $17.03M estimate. This growth is attributed to strong organic growth from its Dynamic Audience Activation Platform (DAAP) and the acquisition of Medicx Health in October 2023. The company also reports progress in commercial integration and cross-selling activities with Medicx, highlighting a potential $2.8 billion opportunity with existing brands. Despite the revenue growth, OPRX anticipates a GAAP net loss and Adjusted EBITDA loss for the quarter.
April 26, 2024 | 11:37 am
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
OptimizeRx expects a significant revenue jump in 1Q24, driven by DAAP and the Medicx acquisition, with anticipated revenue between $18.5M-$19.2M, exceeding estimates.
The projected revenue growth for OptimizeRx is significantly positive, indicating strong organic growth and successful integration of Medicx Health. This growth, surpassing analyst estimates, suggests a positive short-term impact on OPRX's stock price. However, the anticipated net loss tempers the potential upside, hence the importance score is not at the maximum. The confidence level reflects the clear correlation between the reported factors and stock performance, though market conditions and investor sentiment can influence the actual impact.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100