- OptimizeRx Corp OPRX shares are down over 25% after it cut FY22 sales guidance to $62-$68 million, representing Y/Y growth of 1% - 11%, respectively, and gross margins to be between 59% - 62%.
- Analysts expect the company to report FY22 sales of $81.44 million.
- Earlier, the company expected FY22 sales of $80-$85 million and gross margins of 57% - 60%.
- The company says that 2H 2022's outlook is driven by temporary life sciences industry challenges related to a slowdown in the number of new drug approvals, increased turnover rates at client companies, and longer sales cycles associated with larger deal sizes in the funnel.
- OptimizeRx reported Q2 revenue of $13.98 million, up 3%, driven by new customer and program launches, missing the consensus of $16.87 million.
- Gross margin increased to 64% from 59%, related to a more favorable channel partner and solution mix.
- The company reported Q2 adjusted EPS of $0.04, missing the consensus of $0.09.
- Price Action: OPRX shares are down 25.8% at $16.51 during the premarket session on the last check Wednesday.
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