OptimizeRx Corporation

Good afternoon, everyone, and thank you for joining OptimizeRx's first quarter fiscal 2024 earnings discussion. With us today is the Chief Executive Officer of OptimizeRx, William Febo. He is joined by Chief Financial Officer Ed Steinbach, President Steve Silvestro, General Counsel Marion Odense-Ford, and Senior Vice President of Corporate Finance, Andrew DaSilva. 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 in the investor section of the company's website. Now, I would like to turn the call over to OptimizeRx CEO, William Favo. Sir, please go ahead.

Thank you, Operator. Good afternoon to everyone joining today's first quarter 2024 earnings call. I'm delighted to share today's results, which came in ahead of our April 26th preliminary unaudited earnings announcement. Momentum from Q4 of 2023 has continued into 2024, with Q1 revenues increasing 51% year-over-year to $19.7 million, which topped the high end of our pre-announced revenue range. Growth is being driven by favorable competitive dynamics. We are seeing stronger customer engagement as pharma is looking for partners with integrated precision offerings that have true scalability in terms of HCP and DTC reach, interoperability across multiple points of care, and capability to accurately report insights back in a timely manner. The tailwinds are welcome as we continue to lead with our clients around a more efficient and precise platform for marketing and healthcare. We are in the right place at the right time. Our year-over-year top-line strength was driven by a clear demand for our Dynamic Audience Activation Platform, or DAP, as well as from our Medix Health Acquisition. Our thesis that smarter solutions such as Dapp will gain market share is continuing to be validated, and I believe we have significant upside potential from cross-selling between the HCP and DPC customer bases. Recall, at the time of the acquisition, we only had about 20% customer base overlap among the 300-plus brands on the platform. Therefore, it should not be a surprise that the in-year pipeline is building at an unprecedented rate in our history as a company. This momentum, as well as financial and operational continuity from Q4 of last year, has carried over to the first quarter of 2024. We are optimistic on this year, and we are off to a strong start, having signed nine DAP deals in the quarter, building on the 24 deals we signed in 2023. While we are maintaining our guidance, which calls for revenue to reach a minimum of 100 million for 2024 with an adjusted EBITDA of at least 11 million for the year, we will continue to watch our visibility and fine tune the numbers as appropriate. Our continued growth would not be possible without our market leading team that strives to excel and surpass expectations every day. I want to thank everyone on the OptimizeRx team for their concerted effort to navigate through a very complex, dynamic, yet still nascent digital pharma marketing landscape that the industry is adopting. The OptimizeRx platform and solutions will fundamentally reshape the dynamics of marketing engagement among pharma, patients, and prescribers. And our mission-driven culture will attract, retain, and enhance all the relationships a technology company needs to be a reliable partner. With that, I'll turn it over to the company president, Steve Silvestro, to give more color on DAP as well as other commercial updates. Steve?

Thanks, Will. As a reminder, our dynamic audience activation platform is, in essence, an AI-powered patient and HCP finder for pharma brands that we serve. Simply put, DAP algorithms work by searching through the sea of existing patient-level data to find brand-eligible patients. Once found... DAP determines the best means of communication with that patient. A call to action message can then be triggered and sent to the appropriate doctor or patient at the most opportune time. This process is recurring as the algorithms learn over time, improving execution. Leveraging this technology enables OPRx to move past our peer group spray and pray messaging so commonly found in the space and instead deliver the appropriate information to the correct person when it's most relevant and likely to drive script lift. In doing so, we're helping to build deeper relationships among pharma brands, doctors, and patients, falling in line with industry trends as pharma is looking to partner with scalable platforms that have agile, precision marketing capabilities, which all falls in line with the core of what dApp enables. With that said, we've had a very promising start to 2024. the company is continuing to experience a meaningfully better selling environment within the pharma end market, which is in contrast to what was seen in 2022 in the first half of 2023. Our commercial integration strategy between OptimizerX and MedixHealth is also progressing ahead of schedule. We have dozens of dApp deals in our pipeline with approximately 50% coming from the direct-to-consumer side of the business, with numerous opportunities in late-stage negotiations. With the addition of MedixHealth capabilities, We stand out as the most scalable platform with both HCP and direct-to-consumer reach. This unique positioning enhances our ability to cross-sell and upsell, unlocking significant value for which we estimate the potential opportunity with existing brands alone to be over $2 billion, with even greater potential for the brands we don't yet support. This favorable environment strengthens our confidence in meeting or exceeding our financial targets in 2024 and beyond. These larger, stickier DAP deals are strategically targeted, making us a more relevant partner with our client base. With our in-house development capabilities and the foundational work of the last several years that's been tailored specifically for pharmaceutical marketers, OPRX now has the ability to materially grow its top line with limited additional overhead. With our MedixHealth acquisition, we are placing extra emphasis to accelerate a highly impactful DTC component. Moving forward, our mission has never been clearer, and we continue to believe that the best is yet to come. With the addition of DAP to OPRX's omnichannel network, we have a pioneering and foundational AI-directed capability, which removes the mystique of seamlessly integrating point-of-care and traditional digital media, offering a transparent and holistic solution for pharmaceutical marketing that's able to reach nearly 240 million lives and 2 million HCPs. Our enhanced AI platform, DAP, coupled with channels outside of the EHR, are driving powerful next best action capabilities based on real world data. As a result, App is now used to power CRM alerts, as well as social media, web display, and other mass digital media communication channels, all which foster greater efficiency and collaboration with our customer sales forces. OPRX is expanding its AI solution work with clients, while others in the space are still trying to figure out how to apply AI. And with that, I'd like to turn the call over to our CFO, Ed Stelmack, who will walk us through the financials and the details. Ed?