OptimizeRx Corporation (NASDAQ:OPRX) Q4 2022 Earnings Conference Call March 8, 2023 4:30 PM ET
Company Participants
Will Febbo - CEO
Ed Stelmakh - CFO and COO
Steve Silvestro - Chief Commercial Officer
Conference Call Participants
Ryan Daniels - William Blair
Sean Dodge - RBC Capital Markets
Stephanie Davis - SVB
David Grossman - Stifel
Neil Chatterji - B. Riley
Eric Martinuzzi - Lake Street
Operator
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, Will Febbo. He is joined by company Chief Financial and Operating Officer, Ed Stelmakh; Chief Commercial Officer, Steve Silvestro; General Counsel and Chief Compliance Officer, Marion Odence-Ford; and Senior Vice President of Corporate Finance, Andrew D’Silva.
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 Febbo. Sir, please go ahead.
Will Febbo
Thank you, operator. Good afternoon everyone and 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 topline 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 towards 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.