WALTHAM, Mass. - OptimizeRx Corp. (NASDAQ:OPRX), a prominent healthcare technology solutions provider, has reaffirmed its revenue and adjusted EBITDA estimates for the fiscal year 2023. The company is on track to finalize its financial results and year-end audit, which includes its acquisition of Medicx Health in October 2023 and the November 2023 operational realignment.
The audit process is expected to be completed by the filing deadline for non-accelerated, smaller reporting companies.
The company has announced that it will host a conference call on Thursday, March 28, 2024, to discuss its fourth-quarter and full-year results ending December 31, 2023. During the audit of Medicx Health, a change in revenue recognition from a gross to net basis for certain revenue streams was identified, leading to an updated revenue guidance of at least $100 million for 2024. Still, the adjusted EBITDA guidance for 2024 remains unchanged at over $11 million.
Preliminary estimates suggest that FY2023 revenue will surpass the previously projected range of $68-$70 million, with adjusted EBITDA expected to be between $3 million and $4 million. These figures are consistent with prior guidance from the company. It is important to note that the estimated revenue and adjusted EBITDA for FY2023 are preliminary and unaudited, subject to the completion of financial closing procedures.
The company has emphasized that these preliminary estimates have not been reviewed or audited by its independent registered public accounting firm, which does not express any opinion or assurance regarding the unaudited revenue results. There remains a possibility that adjustments may be required following the audit.
OptimizeRx continues to prioritize transparency and open communication with its investors, analysts, and stakeholders and is looking forward to engaging with the investment community in the upcoming earnings call and at future conferences.
This update is based on a press release statement from OptimizeRx Corp. and constitutes no endorsement of the company's claims. The information provided is intended to give a factual report on the company's financial outlook and reporting timeline.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.