OptimizeRx Corporation

Good afternoon, everyone, and thank you for joining OptimizeRx's fourth quarter fiscal 2022 earnings discussion. With us today is the Chief Executive Officer of OptimizeRx, Bill Feble. He is joined by Company Chief Financial and Operating Officer, Ed Stelmach, Chief Commercial Officer, Steve Silvestro, General Counsel and Chief Compliance Officer, Marion Odins-Ford, and Senior Vice President of Corporate Finance, Andrew DeSilva. At the conclusion of today's earnings call, I will 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. Instructions are included in today's press release and in the investors section of the company's website. In addition, management will discuss certain non-GAAP financial measures today that they believe aid in the understanding of the company's financial results. A reconciliation to comparable GAAP financial measures can be found in today's press release. Now with that, I'd like to turn the call over to OptimizeRx CEO William Febbel. Sir, please go ahead.

Thank you, Operator. Good afternoon, everyone. Thank you for joining us today for our fiscal 2022 earnings call. 2022 has been a year of great challenges and new opportunities for much of our industry and OptimizeRx. During the year, we saw an enormous amount of market volatility, temporary headwinds, and a consolidation within our sector. While headwinds impacted our top-line results, we also saw the resilience of our business and its ability to continue to maintain strong financial footing. as the pharmaceutical industry continued to accelerate its digital evolution. This created unprecedented interest in our company from clients, partners, and multiple strategic parties aligning with the Opportunity and OptimizeRx's platform. I believe this is directly correlated to the tectonic shift in the adoption toward the use of digital health technologies by clients, doctors, and patients. 2022's revenue of $62.5 million fell within our revenue guidance range. Our gross margin of 62.4% surpassed the high end of our guidance, and we were able to generate nearly $11 million in operating cash flow during the year. Ed will go into more of the financial details shortly, but I maintain we are well positioned for growth given the health of the business, the team, and the limited number of players who can scale, measure, and report in our industry. More importantly, despite the macro headwinds that we've outlined in previous calls, we were still able to win six deals that utilize our AI-driven real-world data or RWD AI offering. We expect to have additional RWD AI wins this year and continue to believe revenue from this solution will increase at least 100% year-over-year and approach 20% of our total revenue in 2023. As a result, we are favorably positioned to see revenue growth and are looking for our top line in 2023 to increase at least 10%, which should also drive improvements to our KPIs by year's end. While we are optimistic that the macro headwinds will begin to subside this year, and there have been positive trends since the mid-2022 trough, we are taking a more conservative approach to guidance this year, given the macroeconomic backdrop. despite having a higher revenue backlog at the start of the year as compared to previous years. Operationally, our technology investments, partnerships, and small tuck-in acquisitions have created a robust single-stop, omni-channel offering that's driving a superior ROI for the brands that we serve. We've also made tremendous progress in building on our industry reputation and expanding awareness of our solutions. Part of what makes our business model special is the fact that we continue to manage the largest in-workflow point of care network in the U.S. and are able to deliver digital solutions via this connectivity to prescribers. To complement this, we have been expanding service offerings outside of the EHR, which we believe will result in us capturing a greater portion of the available industry white space over the next three to five years. With total industry digital spend at more than 10 billion and growing, the white space in which we sell into remains vast, even for the brands with which we are currently working. From a competitive intelligence perspective, we are well aware of new entrants. And what we have witnessed has been brand managers being willing to test out the functionality of new vendors. While this did create a longer sales cycle in 2022, The end result is that after a short trial period, new entrants are being quickly weeded out from the ecosystem in which we compete. Initial solution evaluations of new entrants have been less than stellar due to offerings lacking meaningful connectivity and interoperability, which is really the foundation of our platform and enables us to address fundamental prescription issues facing HCPs and patients. As market demands continue to grow in complexity, along with continuous adoption of point-of-care solutions, coupled with actionable insights, our investment priorities shifted to provide our clients with enhanced reporting capabilities, as supported by a recently established exclusive partnership with MMSI, an industry-leading data-enabled agency. Meanwhile, pharma is moving a greater portion of their commercial spend toward omnichannel digital solutions, while looking for these solutions to deliver more impactful results by not only identifying patients known to HCPs, but also pinpointing new patients for the therapies. We believe smarter solutions, such as our RWD AI offering, will capture the lion's share of the pharma spend, particularly with legacy commercial dollars that are reallocated to digital. We believe early proof of this trend is clearly highlighted by our ability to win six RWDAI deals during a time when pharma was tightening its purse strings to preserve their year-end bottom line. RWDAI has the added benefit of moving us from being a tactical player with pharma to a bigger strategic partner, where we can benefit from a top-down push by decision-makers while obtaining stickier revenue streams with stronger margins and a greater overall growth potential. That is why I've never been more excited about our strategic positioning than I am today. I expect the combined impact of what I've outlined today to pay significant dividends over the next three to five years and result in our revenue increasing to multiples of where it currently sits. For now, we are following through with our land and expand strategy. We continue to benefit from our delivery of superior return on investment, which continues to stand at well over a ratio of 10 to 1. This is significant considering pharma has traditionally sought out ROIs of the two to three times spent. With that, I'd like to turn the call over to our CFO and COO, Ed Stalmach, who will walk us through the financial details for Q4. Ed?

Thanks, Will, and good afternoon, everyone.