In This Story
OptimizeRx Corporation (OPRX-5.40%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports a net revenue increase of 29% to $92.1 million for the year, primarily driven by the acquisition of Medicx Health and increased sales from the Dynamic Audience Activation Platform (DAAP).
Cost of revenues was $32.7 million, resulting in a gross margin of 64.5%, an improvement from 60% in the previous year.
Operating expenses increased by 5% to $73.1 million, which included $11.5 million in stock-based compensation and $7.5 million in goodwill impairment charges.
The company reported a net loss of $20.1 million, compared to a net loss of $17.6 million in the previous year, with the increase attributed to higher operating expenses and interest expenses.
Interest expenses increased significantly to $6.2 million due to the term loan used to finance the acquisition of Medicx Health.
The filing indicates that OptimizeRx has a working capital of $35.3 million and a current ratio of 3 to 1.
The company anticipates that funds generated from operations, along with existing cash and cash equivalents, will be sufficient to finance operations and planned growth for the next twelve months.
OptimizeRx's strategy includes transitioning DAAP customers to a subscription-based model to improve margins and enhance revenue predictability.
The company identified a material weakness in its internal control over financial reporting related to ensuring data completeness and accuracy from third-party service organizations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the OptimizeRx Corporation annual 10-K report dated March 20, 2025. To report an error, please email earnings@qz.com.