OptimizeRx Shares Rise 23% on 1Q Revenue Beat, FY Guidance

Dow Jones05-15

By Sabela Ojea

Shares of OptimizeRx climbed Wednesday, a day after the company reported higher-than-expected revenue in the first quarter and guided for further growth this year.

The stock was up 23% to $12.86 in midday trading. Shares have dropped 8% since the beginning of the year.

The provider of healthcare-technology solutions posted first-quarter revenue of $19.7 million compared with $13 million a year earlier. Analysts polled by FactSet had forecast revenue of $18.7 million.

"The company is experiencing a meaningfully better selling environment within the pharmaceutical end-market which is in contrast to what was seen in 2022 and the first half of 2023," President Steve Silvestro said.

For 2024, OptimizeRx forecasts revenue of at least $100 million, up from $71.5 million a year ago and also ahead of Wall Street expectations of $101.7 million, according to FactSet.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

May 15, 2024 11:51 ET (15:51 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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