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OptimizeRx shoots 18.3% post Q2 results

Published 08/08/2018, 09:59 AM
© Reuters.  OptimizeRx shoots 18.3% post Q2 results
OPRX
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  • OptimizeRx (OPRX +18.3%) reports Q2 revenue growth of 77.7% Y/Y to $5.1M.
  • Gross margin improved 1,210 bps to 56.1%.
  • Operating expense as a percentage of net revenue reduced 600 bps to 51%.
  • Raised $9M in private placement.
  • The company signed new pharmaceutical manufacturer brands for distributing digital health messaging through OptimizeRx’s expanding network of EHR channel partners.
  • Also, partnered with Patient Connect to deliver real-time digital health messaging at point-of-care and provide a broader solution set for global brands.
  • Cash and equivalents totalled $12M, the increase in cash was due to $9M equity raise completed in May 2018.
  • The company has continued to operate debt-free and expects to generate positive cashflow from operations for the remainder of 2018.
  • Previously: OptimizeRx beats by $0.04, beats on revenue (Aug. 7)
  • Now read: Titan Medical down 27% on planned equity offering


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