OptimizeRx Corporation

Good afternoon, and thank you for joining OptimizeRx Corporation's second quarter fiscal 2021 earnings call. With us today is the Chief Executive Officer of OptimizeRx, William Febo. He is joined by Company Chief Financial Officer, Doug Baker, and Chief Commercial Officer, Steven Silvestro. Before we conclude today's call, I'll provide some important cautions regarding the forward-looking statements made by management during today's call. I would like to remind everyone that today's call is being recorded and will be made available for replay via webcast only with instructions in today's press release and in the investor section of the company's website. Now I'd like to turn the call over to OptimizeRx CEO, William Febo. Sir, please go ahead.

Thank you, Melinda. Good afternoon. Before we begin our review of the quarter, we just wanted to express our warm wishes to everyone on the call today. I hope that you are all having an enjoyable summer in retrospect of all that has occurred with the pandemic in the last 18 months. We hope everyone on the call has had an opportunity to safely meet up with friends and loved ones. One takeaway that I know has been felt by everyone throughout this time has been a new sense of perspective of the connections in our lives and what we value as important. Finding ways to stay connected with and present for each other has been one of the most valuable takeaways from this season for me and the people at OPRX. So as we move forward with our call, we wanted connectivity to be today's theme. Connectivity across our existing business and industry innovation continues to increase critical connectivity for our customers. Doug will go into the quarter's results in more detail, but we are very pleased to report that year-over-year revenue grew 55% for the quarter, as compared to a year ago period, finishing quarter bottom line cash flow positive. I would be understating my excitement in just saying how pleased we are with OptimizeRx progress in the new fiscal year as we continue to be a major part of the industry's shift to digital solutions for awareness, access, and adherence challenges. The connectivity that comprises the OptimizeRx network and technology platform taken as a whole is a uniquely powerful asset that enables our clients to address these core aspects of their business. Our offerings are so powerful because they enable pharma companies to stay present throughout the patient care journey. It feels really good to be part of a company whose mission and objectives positively impact all the stakeholders within our sphere of influence, from patients to providers to life science companies. Since our technology offers life science companies a direct channel to providers and patients to raise awareness about their treatments, many of our clients' brands have experienced significant script increases using the OptimizeRx platform. Our clients see an average ROI of 8 to 1, with some as high as 20 to 1. The power of third-party measurement is a key differentiator and allows us to accurately measure the tremendous value we deliver to our clients. We have also seen the number of our brands adopting our technologies jump from 80 to 140 in the last six months. We continue expanding our technology, impacting care delivery and the patient journey beyond the traditional point of care. Physicians engage with many digital channels beyond the electronic health record to access all the resources they need to deliver the best care to their patients, including while performing desk research, peer to peer collaboration, and other forms of indirect care. Our growing technology partnerships outside the electronic health record allows us to continue unlocking new omni-channel touchpoints for life science companies to support and engage providers both within and outside the EHR. This increased connectivity not only amplifies physician mindshare, but also gives us the opportunity to further diversify the platform's channel mix so that drug manufacturers can address clients' challenges in a more complete fashion. To this point, we continue to strategically focus on the build-out of our enterprise solutions in order to attract and retain this growing customer base. Previously, we had reported 33 of our 46 enterprise deals pipeline having closed. We have seen an increase in the enterprise pipeline to 63 deals, and as of the end of Q2, our new number of closed enterprise deals is 52. with an average ACV of $1.1 million. As part of that, in Q2, we won two deals incorporating evidence-based provider engagement, leveraging real-world evidence, with an average contract value of $10 million. In short, we have exceeded our expectations and are thrilled to see our clients leaning in more to our enterprise approach. This is very exciting, given that we have just incorporated the use of advanced analytics on our platform. powered by real-world data, or what we call RWD, in Q4 of last year. This solution is still very early in its uptake and allows our clients to deliver evidence-based awareness programs to effectively engage providers with treatments-related information. More importantly, as we continue to socialize and educate clients and the industry on this powerful enhancement, they're expressing real excitement and appetite for the solution. The continued growth of enterprise and interest in real-world evidence solutions that our platform is capable of delivering is particularly important, given that our activity around specialty medicines accounts for 53% of the spending, up from 27% in 2020. This continued trend is being driven by innovation and growth in oncology, immunology, and cardiology, providing the alignment of our capabilities and reach to our clients' needs. While PAM is a moving target, given the extreme growth in digital enablement for reaching physicians and patients, we are seeing continued penetration and therefore increased market share in those fast-growing therapeutic areas. In doing so, we have a special focus in supporting pharma's engagement across three specialty areas in particular, as mentioned, oncology, immunology, and cardiology, where we've seen a 600% rise in customer engagement over the last two years. We expect these specialty areas to make up more than 50% of revenues going forward so far as revenue mix goes. Last year, 24% of our revenue was derived from these three specialty areas. So you can get a sense of how quickly the pace of interest has ramped in the doubling of the percentage of revenue share this year. When we think about our pipeline, 43% of our new business is also derived from these three areas. As we secure new channel partnership across these indications of strategic interest, we are also broadening our network, such as in oncology, where we are connecting and communicating with over 50% of the oncologists across the US. In many senses, we've built a truly ubiquitous technology platform with an IT backbone that allows us to overlay and grow new solutions that advance our mission to help patients start and stay in therapy. by unlocking omni-channel avenues for drug manufacturers to engage providers and patients in deeper, more meaningful ways. Our team has also invested lots of time and effort in channeling our ability to enable innovative connections between our three principal stakeholder groups, which, as I've mentioned, are patients, physicians, and life science companies. As our technology platform has been developed around these three stakeholders, We are also designing innovative solutions aiming to solve challenges related to, one, provider awareness of important clinical, therapeutic, and financial information about available treatments so they can support patients in overcoming barriers to treatment. Two, affordability of treatment and adherence for patients as they progress along their care journey. And three, ensuring that both patients and providers are able to take advantage of the life science support that exists within the healthcare ecosystem. I'm reinforcing the connectivity aspect between these stakeholder groups in order to discuss the beneficial innovation that we are currently building out for the industry. Care delivery and the way patients interact with technology, as well as the healthcare system, to manage their health never stops changing. Our platform has continued to evolve ahead of this curve to ensure information and therefore treatments are accessible when and where they need to be. That is a critical aspect of what we bring. As our platform technology has become more sophisticated, we have also pegged its evolution to solving the increasingly complex challenges on behalf of our clients. This is a significant illustration of the increasing value we're providing to the healthcare industry. One of our many recent highlights is that we signed an agreement with one of the top five pharmaceutical companies as an anchor client in a new patient affordability initiative using railroad evidence to provide visibility to doctors when Medicare patients' treatment plans are at risk of lapse due to loss of coverage. This initiative is equally beneficial to both the patient and the provider in alleviating the cascading non-adherence effects caused by financial burdens. This is only one example of the value and potential of our technology, and this is huge for us because it stands as testament that we're living up to our mission and commitment of helping providers and patients have easy access to accurate, actionable information on treatments and medications to support better health outcomes. Looking at the evolution of OptimizerX, if you build it, they will come, is a fitting analogy. In building out a technology backbone and infrastructure for stakeholder communications in the healthcare space, we're now successfully overlaying innovative technology enhancements and creating deeper connectivity across the mesh network of healthcare providers, patients, and manufacturing and their brands. This is all in line with our mission and objectives, and we look forward to updating the market further on the progress of this exciting platform as we continue to digitize, modernize, and connect communications in the healthcare space. With that, I'd like to turn the call over to our CFO, Doug Baker, who will walk us through the financial details for Q2.

Doug?