OptimizeRx (OPRX) 5 Aug 212021 Q2 Earnings call transcript

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 Febbo. He is joined by Company Chief Financial Officer, Doug Baker; and Chief Commercial Officer, Stephen 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 Investors section of the Company's website.

turn over to William OptimizeRx like Febbo. I'd the to call CEO, Now ahead. please Sir, go

Melinda. you, Thank afternoon. Good

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period, XX% we more our continues the business. quarter as go business results Connectivity the enables to I to theme. grew the as solutions network these platform, their powerful shift report the a core for be aspects that and awareness, to flow that industry year of adherence finishing revenue as move are in the across is as pleased cash detail, year-over-year customers. the wanted whole, continue major into part with quarter in uniquely The ago our quarter's to digital but we pleased connectivity connectivity are forward taken excitement asset bottom today's my that very clients technology positive. we So new a just to call, be our innovation be compared for line would a a critical to challenges. OptimizeRx connectivity how saying will to comprises increase and access our existing with we and we OptimizeRx year in fiscal for of industry's progress understating address Doug

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reported us growing also life complete focus order technology customer attract To within we solutions providers, new retain science fashion. unlocking had health build-out only connectivity can continue our outside and in growing channel closed. engage XX the in XX mix physician to having challenges so amplifies touch but strategically point, that enterprise to This further we diversify increased to deals enterprise both of of pipeline to to drug electronic opportunity omnichannel Our clients' address share gives outside continue and the partnerships not us mind the this allows and more support record platform's the on manufacturers the EHR. our base. this companies for Previously, a points

enterprise the number increase of deals. We average end to And in our have deals with as new ACV of $X.X QX, pipeline million. the of closed XX, XX is of seen an an enterprise

or leaning As million. and we part very our exciting an enterprise of QX, short, given to are in to our approach. to data, deliver is have provider we engagement treatments-related in platform of on to very evidence-based In what This two evidence-based allows in exceeded thrilled that, RWD, of value evidence engage in deals expectations our just still year. our advanced analytics by call real-world have and clients last early average won with programs solution with see of awareness incorporating providers information. its powered QX leveraging contract effectively incorporated we real-world our is that clients we uptake use the more This $XX

growth industry as and that enhancement, educate needs. our and the real and appetite important excitement cardiology, The of alignment spending, on the platform of reach and importantly, specialty in of oncology, medicines this around continue solutions socialize for accounts they're of capable powerful up XX% from our trend immunology is This being evidence XX% clients' is and by our solution. innovation continued delivering XXXX. the the real-world growth More our driven we expressing capabilities activity clients and given for enterprise is to in continued interest particularly providing to and in that

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Thanks, Will, and everyone. good afternoon,

may all issued results ended our XXXX. website. be available and As quarter of A viewing of a XX, with for with downloaded Relations is copy section release our calls, from of the was second June Investor press the our

XX-Q We also our today. filed

Turning quarter the results to financial ended XX, XXXX. our for June second

period. resulted margin solutions. moderately period an and to out to from expand the across year approximately current $XX.X increased to $X.X million, expenses growth. for period $X.X our fiscal for second efforts results of same in from was line revenue for establish the year Operating XXXX quarter reporting increase to the period ago reported The the organization in in XXXX. as million million base stronger XX% compared revenue from of our increased the our in million sales Our the over future this current Overall, to all from XX% and product the quarter Gross $X.X XX.X% build ago to increased of a increases the our increase in same in period. approximately

XXXX. Our a of million compared as XXXX at in to substantially the our We revenues result operating the of $X.X rate $X.X lower of net in of had net a than a leverage fiscal the model. million increased income same of quarter as our expenses second period during loss

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term the turning million as to to compared the short We as raise XX. in equivalents on operating plans. and long growth $XX.X XX additional Cash capital $XX with our Now our anticipate June to million fund or need sheet. purposes not totaled or March do balance for cash of

growing revenue our partner channel network. on and focused are We

relationships, as such we additional opportunities capital. have may for company in which activity, a acquisitions as that market require is and However, merger acquisition with strategic may a or active

will of opportunities they discussion with We up assess these a wraps our arise of financial value. view shareholder This as the maximizing results.

Will? to the over like back turn I'd call Will. to Now

to expenses, we Great very and mass. we directionally, Doug. future, feel successfully that's We're continues each our we're worked to to are while critical a innovative from three diligently to very growth acquisitions optimistic ROIs We're because continues generating momentum as continue still highly with our build, Collectively, growth issues Thanks, use early expanded for challenges, towards strong adherence as integrate clients. to at accelerate a passing to results. science access clients scalable life generate awareness, OptimizeRx' working angle. we operations which find large company. that we've full monitor and update. make about our and And able and technology our by solutions our Great quarter, very for our leveraging of every backbone,

products to last Additionally, five have technology infrastructure show. rounding health out really In as of of an recurring arises. the revenue concurrently communication is providers when we well openness from clients building and network years, our with health it's our consistent care developing services a providers, through starting over and that built to care as network we new garnered recognition goodwill IT have opportunity having our the and

invested technology and year. organization call out people to with first-in-class that, have still to We that communication we open believe health there fiscal more Operator? building With and questions. is come the a is like as care the the yet to transformation leading both I'd in technology your close of that

Instructions] [Operator first question William our Blair. with We'll Ryan Daniels from take

do Congrats start the the on continue quarter lot the in of very how versus going enterprise a through a to that rate second Well, to period? of the rate. deals think Obviously, could hit How can of 'XX curious XX very sales you've the there, that at I'm forward XXXX? with growth enterprise closed. And of already kind maybe of and high strong in year. of the you flow pipeline. into start much into run we you much close is

at the had Ryan, to into thanks. we we what just the is saw, happy contract good 'XX. going first pipeline. the lot Great value. those the is And half. enterprise of jump in you in half there as a through seeing we've When a is started year in big in many seen And be a question. that of level. lower second deals of clients. a general definitely $X.X that What Yes, we're A piece million, annual mentioned goes of is percentage is, this

coming so upping They're And brands. to more. They're back to other bringing it. they're do it

going it session healthy 'XX. really not the be a for planning the from would into us during we're out percentage a to percentage, going break sets what because stay we But it So strong away up year it's and guidance.

QX. As in an activity you know, that's

Steve ask on just me that. Let to comment also

Will. good Ryan, Thanks, you. from to hear

the the two also sort of of clients. We've maybe as been come the buying very investment rest from solution set the pieces return they're opportunity that to solution which that. or of or would revenue is one mention sort and enterprise cross-sell/up-sell one the scale they the growth. the on to When you've modules say generating seeing us platform, other think also some I diligently solutions. on what had of is heard quick additional of on And is that for our opportunity pilot and/or that we've clients we the outcome is focused driving they're purchased, on more that in

So as Will says, it's not all 'XX revenue.

second over. based Some we're what of But will half just seeing. there feeling that momentum the really will see, close. carry you as the we were expanded we also two the like about And we're on look good same mentioned you'll at obviously the pipeline closes. notice But the that One prosecuting different here. as updated time was that we were in the pieces

We're sort pretty effect there's there. compound duality a proud that. So of of

X:X discussed companies you impressive. front what Is and as you contracts And updated And increase continue you up giving internally new product the past. expanded through the as companies? think greater than that higher some, generate metrics, high returns. flow ROI growth we've it increases to let to of that's Or very those type That's to trying can year-over-year your pricing? the in then, XX:X. pharma given curious plan color. price to I'm drive do returns in the something think, think means let I you're that to Will, Okay. that mentioned generate want potentially revenue what versus to you helpful And you on you I pricing Extremely

Yes.

lower if enterprise transaction transactional, you remember, we they could publicly, just one And lean towards those value-based. there's value-based. if being pricing, -- because per a dissect to two value higher we of one medications. on specialty would more are talked tends much about So we see And ways because rate volume generated

The have We happy the premium by So with all we I lot ROI, very yes, a presentations definitely, the enterprise, correctly question had just with a are that. obviously to been have think, it first we them. of in X:X. essence, shifting deserves. it on Relative to are doing -- pricing are our clients

list, So average. an validation. is that up -- this that's top we took of And moved with just we and will drive all at shared and it, our looked then the average as And remember, third-party XX:X.

good I if the patients. conceptualize about of And more really same that. solutions physicians feel So and easy -- you for to you're set doing the with same it's if brand

going points, So just drive You're touch going it's greater and more ROI right? get script to increase. to

So they go well. together really

so of by And see seen clients will is that forward, is the way. introduction increase I and value that pricing really we more And think we've it's an going way by encouraging. market perfect it. the And the also our delivering in the get from RWE, it. value the

Markets. from of Sean Next, hear RBC we'll Dodge Capital

I'll success, on the congratulations last that in great you on point the quarter. the add capabilities. made my evidence on real-world great momentum Maybe, Will,

that highlighted prepared in You remarks. your

said You these. for demand fast-growing

of sense means you enhancers space? You've the that a of of TAM to number your a value? us them of Can what made already. real-world contract has give white What kind signed inclusion for

start, I'll it I'll Steve. Absolutely. and then to hand

communications if a first their been evidence representative. of sales ultimately clients, If is a of about XX kind of marketing and and our lot data, decisions, that that old. to kind that think real-world you message their you And via imagine all, to can of days to they've drive data of CRM then XX using lot -- using

has delivery. translation lost just -- of been it's that Secondly, problems. But in there's the standard

our drive in data to evidence-based believe Now clients completely marketing -- messaging. so

actionable can point care. of of influence they Now inside RWE have

as investments, pass that's it made Steve them brought And touch and informed. into But and the team to so point what just has really great that he over highly done this the enhances a me do because championing. it ability another already let they've gives to

Thanks, thanks the Will. question. for Sean,

of I alert. relevant think to sort is the just piece other of Will timing alluded the that's and the

meeting being to that's The that, ultimately you scheduling messaging is alert-based the sales out with driven think through physician needs an the other sales physician act and a So delivered a a of given means sales which representative means gone. if representative. with system the XXX% system the the therapy, is time to on physician, really by of the CRM there, to to on it Oftentimes appointment second-line they've and every they're the that a typically then -- already physician missed of sales actually, over time, or that first- which the already by gets window a time Typically, rep patient opportunity. that time.

us, when at alert, For generate of it that we alert physician a point is to real-time care. the

to that And able choice before therapy to get so physician decision. the are information make a we they on

And critical, But with really much of success so a the to early part more big is really, success Sean. timing that this. come, that's and

back Okay. fourth change guess tends And historically we year, I more of That's half be look buy-ups? about from anything at Great. client an arrangement helpful. historically, to what the buy-ups phenomenon, then we of come the of that get the quarters, that revenue then has when And Does past a occur. if your into that as dynamic? enterprise to migrating proportion

Steve, to start. I'll add. feel free

bump. we QX or see a just of tend general, from that the bigger. of the makes at QX. communication that in anywhere in happens It X% almost later it, be in So to all XX% always can least QX It buy-ups, to

wouldn't last number there ACV it, is we Steve see But million. we $X.X you As a we have can to up But quarter, said, visibility deals. us telling enterprise update enterprise but were went a saw QX. really relative Nothing's into healthy -- about that. of don't we as we renewal, talked after amount.

right? two small. there's So that of a means just are that lot and -- are million, that $XX them So means

the us, the we've second half. I as seen, small we see think new which second later what for QX in is usually, ones you upping half. ended is And the for that

did in the the encouraged good miss see with expect second pretty anything to half. I and Steve, So really on flow-through that? progress

revenue more No, positive, implicate you commercialized have Maybe the the in for potential fourth buy-ups [indiscernible]... I we and is add, [indiscernible] one quarter that everything. think the that hit also

up. Steve, one. breaking up. Try to repeat again that breaking important you're you're that's an Steve, because

I you said now. -- hopefully, better hear me can

we Yes, can.

the Okay. last that Good. okay. Again, what quarter commercialized since generation fourth solutions impact fourth new I year was We've several in revenue positively that -- will quarter. saying is

others very discussed And so those real-world into already those about the coming we're year. already half evidence the There we've the feeling announced. which second of impact will -- we've several But optimistic the solution. of were

Securities. Moving on to Andrew D'Silva of Riley B.

on the congrats Really, progress.

Just me. for quick ones a few

If real-world with you the can evidence offering. start

in Just the a you're interested like particularly best talk it here? this little on next more with just I'd of what could good expanding existing couple or customers. can seems in you thinking in TAM I'm can to color it? tailored term be And new The flow-through And you $XX are the customers something it over and fit And be fairly specialty around a be medications. of interested massive how years. that's kind the also about brands to if there? value. I'd million a is give then it's near assuming

do Andy, Steve, one? start to question. great that want Yes. with you

Yes, alert-based entire hear connecting in care what the question. exists within the really our way Andy, Good you. we're from to interoperable customer API where of connected. for there outside platform Essentially, health to system the EHR the is happy we're data evidence entire doing real-world thanks base. to. The an our solution applies that of ecosystem to

physician. at lab we our to Medicare what The a doughnut that communication. probably subsecond the that we that we in time. a patient it so that allows have like to of announced use one see AI and is real-time data, to good us the in increments. message to hole really And level do built It's And part the example that this longitudinally interrogate et way period such connect a are we records, cetera, that a claims, organize our as it platform direct contemplate. can to about over of things And engine

are Andy, there medicines you that about fairly patients a specialty that think as and hole about If have the how hit of that it's doughnut that that, classified that cohort are is need, number. then patients that patients think on, many Medicare large

won't won't but TAM the that of there talk use so It are that's for is of hopefully, opportunity. one we cases idea could gives that of about you while size today, apply we And the -- on virtually hundreds that case, an we the call to. it use --

so there. And what good we've we're helpful? feeling really done really, Is that about

Very, very Yes. helpful.

related offering during Or going about So my we question margins? to How real-world be any next just quarter? margins. gross line the was largely to there And this forward should think offering top benefit through benefit? the a the is

No. There's -- see some. we did

I First this RFP everyone, of all, have so we before season. QX, to late remind launched in

if this So And is relevant that activity when us that's that you've only with closing. selling do for pharma. with a you highly They almost know in-year it's regular and been while, effective. not all and

as which highlight, incredible. have just all million. So for think in really, to said, hundreds. yes, of months. then launched, the XX virtually it's six don't we two But launched, an doing really And drive -- from $XX Steve no, We of TAM. have sold spectacular. there's brands, we on ACV the to multiple XXX very Really the I of a closed team moved ROI it's right, proud continue want adoption. to and that. hard. innovated, all and really It's But We will

very early. So have see and much math you large, to to opportunity that too don't is it's do the very

for have think gross on you idea that? about any how we the did And Great. margins

Yes.

gross forgot margin the about so got question. I it. I Sorry, about excited

is So that a yes, it product RWE so premium. was What does does demand mix.

our scale think guidance premium get about, is there but and around it's revenue. still overall But talked there, engagement margin. very It revenue for And But our Some RWE, gross because small of as XX% side, our model. healthy on We general, the opportunity that's we business then in patient the opportunity good the there's fairly is there's going did stay to improve given saw margin. some mix. We're architecture the to work. early relative obviously, a we've that to XX%. only still within that to better really we

like Can I Sales Final how question noticed seeing year-over-year. that's about that's you looks actively talk further to and or development? leading departments. Perfect. team or you're and Perfect. to launches hiring materially the That's firm. It's very penetration me. multiple expected been across useful. for new up hiring you've targeting translate new to product it's what

Yes, growing we're know we've got We're shift few does attracts great in the way digital, who major And crazy. And spend the like of culture. that to that it a we great the company, Yes. We're of this position. fortunate it shift, people this industry. the a that one tailwind very of we reach sort with pharma do have.

And are so getting and -- bigger we're making clients. and just bigger sure our we with

got you're way. delighting You every them to sure make in

still have lot and the or around hiring shows all we almost When So a of more percentages. don't happy growth, revenue less. And of in mode, kind look I see leverage, We're at it increase growth. is really that those growth we I that right? it's XX% are versus the comparables, XX%

the wanted But the really half. happy across board. And we make to and the yes, really it. we've we And given had to with product, in-year on good I'm in So growth, to sure second the client great marketing, the get be support for ready been the tech people team. some commercial on able really in we've season side. That's RFP just leaned

hear we'll Lake from Eric of Martinuzzi Next, Street Capital.

on is the side. question distribution My

participate this obviously, revenue therapy. the offering, do, understand you, channel the benefit distribution on affordability patients I say, evidence same in keeping an incremental for And your real-world the opportunity side? Does of they guys. instance, So way for that's on the

that really tremendous very message message smart That's a because within that. you nondisruptive, It's physicians a slow our doesn't doing with on it a But partners they those participate delivers the high one could the partners and because a we solution work. helps This there's -- it great in very a for is opportunity their it's for no argue and us, a absolutely. that with our and RWE, of portion can that, has clients, So is workflow, in they're really Eric, of that which delivers stays premium, right? Yes. additional actually care and relevant way. not value. charge it Obviously, which all us. down are patients, architecture

they are like in yes, scale our excited So -- more it. as they of get like really this. it We to we partners and

early I And days. obviously, it's wondering, was Yes.

You've in is opportunity distribution and question something footprint brands there of of terrific Miriam, currently it's a can Maybe have to But it -- after you is for -- opportunity a folks out got is couple oncology, maybe using available, you got a the go revenue -- but is house? cardiology. we go immunology, it. this in this you've where the that leading don't incremental this But have? knowing some an side

will and therapeutic now. first and don't message you. of case: approach to handle why for Steve it's that's business the Absolutely, to is a of the opportunity partners with RWE and valuable -- show right generate. secondly, key; have then all, open to the who I them everybody, we type can those revenue It's it go that could great traveling But a Miriam

enhanced and a that. So we're after go to that actually that actively team doing have we've

$XX.X but giving Okay. And then right seasonality-wise, I formal at know Street's you guys for QX. now million guidance, the aren't

or and did incremental that it we million the move? million, something with demand count you sequentially up this on? roughly You got this we've quarter $X.X Are can with up sounds queuing just $XX.X Is here, like so. comfortable

And but get comfortable feel if a half. historically first We asked, we're the year new story, you're half that second half, look second half. as you first at to like based on completely where seasonality is we very that others like can the with the bump. this answer Can't

to to now. in a anxiety, speed that with get fully table access get bit the to And to market, awareness half not patients. the things we're to physicians, with in to come little more, get clients Our but second

yes, will -- we're So seasonality we feel apply.

Okay. business because a of good do folks to you It's able have COVID-resistant model last when a it guys lot couldn't. year are to

That's right. Eric. Thanks, Yes.

Poppel hear next of LP. Poptech, We'll from Harvey

get Well, tired Yes. of great never saying I job.

Harvey. Thanks,

if Eric's least that of -- the your impact slam-bang they're did see about -- Picking two will, and down -- well, that in or closing things historic efforts? brought performance. row the in-person any now one you of of competition, extent of back the on And for pharmas. indecision any up, years on marketing open a -- To channel at marketing a your points did you in the with Eric's while, up

Yes Harvey, you that. no. We saw so long-term X. you for thank a believer, are --

matter just of you're it leaning showed because a more be be disruption showed everyone about not Well, assuming and think disruption. all in knowing year, there'd or if there'll seeing more the knowing we As year fact, up just year, up year absolutely they this early anyway. in last

and testing do a And so happy. people of lot what we see is

in to means enabled that seeing, And what digital need seen you've around announcements, expect or just is we in we're people, real some of really digitally public which dollars to people So this shift less. the and continue. a you

that? on of see your on by exceptions, no, still are pullback. possible. not so some And side safe much very models. the we but in do trying our any to Steve, way, And are anything be everyone's most clients as There work-from-home as

to businesses, No, I adoption, several going continued Will to think already a just folks back not Will. seeing to the covered Harvey. office. that you go us have going let We're said, know to move They're And are policy. as remote-only it,

think have honest, the has within as and overdue. that client have synergy businesses. was of a And trend would COVID, definitely done them the much large so effective that now their so forth, moves it's here, but within in I they the around in I digitization more not they're Several direction. right releases forced have much press into it moves go sharing very and they they strategy our be the ones to made. long base. businesses, innovation was the and made, have found To So just That long overdue. these pandemic

you RWE Okay. bring super should already that a getting business. that's do to the other one get additional higher I high the correct? of -- down in be to to be I kind would sense margin costs has seem on question, margin studies. that I generally the move from the me, speaking, are have and you that the you have fixed. It on revenue what your saying, you're But got Am mean to RWE. of

Yes.

below. You hit of on just that because the pass-through a of lot leverage

even but QX revenue, is of We why it than of little at leverageable thinking, is, higher a are result early which the doing stage. for yes, see type we Harvey. bit this Thanks,

at And there no questions this time. are further

be look you, hopefully all. and you. forward you we or you some seeing on call everyone, look conferences, Well, to and our you and -- Melinda. our on thank forward if Thank seeing I to earnings on talking safe. upgoing Be next to Thanks, the of are well they live,

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