OptimizeRx Corp (OPRX) 2024 Q2 法說會逐字稿

Good afternoon, everyone, and thank you for joining OptimizeRx's second-quarter fiscal 2024 earnings call.

大家下午好，感謝您參加 OptimizeRx 的 2024 財年第二季財報電話會議。

With us today is the Chief Executive Officer of OptimizeRx, William Febbo. He is joined by Chief Financial Officer, Ed Stelmakh; President, Steve Silvestro; General Counsel, Marion Odence-Ford; and Senior Vice President of Corporate Finance, Andrew D'Silva.

今天與我們在一起的是 OptimizeRx 的執行長 William Febbo。財務長 Ed Stelmakh 也加入了他的行列；總裁：史蒂夫·西爾維斯特羅；總法律顧問 Marion Odence-Ford；以及企業財務資深副總裁 Andrew D'Silva。

At the conclusion of today's earnings call, I will provide 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.

在今天的財報電話會議結束時，我將對管理層在今天的電話會議期間發表的前瞻性聲明提出重要警告。我想提醒大家，今天的通話正在錄音中，只能透過網路直播重播。說明包含在今天的新聞稿和公司網站的投資者部分。

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

現在我想將電話轉給 OptimizeRx 執行長 William Febbo。先生，請繼續。

Thank you, operator, and good afternoon to everyone joining today's second-quarter 2024 earnings call.

謝謝運營商，大家下午好，參加今天的 2024 年第二季財報電話會議。

While we welcome 36% year-over-year revenue growth, positive cash flow from operations and a beat for adjusted EBITDA, we fell short on revenue expectations and consensus midpoint. This was primarily a result of the timing issue with one of our largest DAAP deals to date.

雖然我們歡迎 36% 的年收入成長、來自營運的正現金流以及調整後 EBITDA 的成長，但我們未能達到收入預期和共識中點。這主要是由於我們迄今為止最大的 DAAP 交易之一的時間安排問題造成的。

We are having success in converting our DAAP pipeline into closed deals. However, because DAAP is new innovative solution in the market, there are additional approvals at the pharma customer required to close out all the items that would allow us to take the revenue into the quarter.

我們正在成功地將 DAAP 管道轉化為已完成的交易。然而，由於 DAAP 是市場上新的創新解決方案，因此製藥客戶需要獲得額外的批准才能關閉所有項目，使我們能夠將收入計入本季度。

We were working hard with our clients to get everything documented but we didn't get it there before the end of the quarter. That said, we are building momentum with our clients and partners that have embraced our DAAP solution and proprietary network and this is getting us closer to being pharma's preferred partner for brand marketing.

我們正在與客戶一起努力將所有內容記錄下來，但我們沒有在季度末之前完成。也就是說，我們正在與接受我們的 DAAP 解決方案和專有網路的客戶和合作夥伴建立勢頭，這使我們更接近成為製藥公司品牌行銷的首選合作夥伴。

As you're aware, pharma as an industry runs all new commercial tactics through internal multifunctional approvals, particularly for multimillion-dollar deals, and we needed these additional approvals to close. In this particular instance, one of our longest-standing clients committed to moving forward with approximately $6 million multi-brand DAAP program that was due to launch in Q2 '24 and got slightly delayed in their internal approval process.

如您所知，製藥業透過內部多功能審批來運行所有新的商業策略，特別是對於數百萬美元的交易，我們需要這些額外的批准才能完成。在這個特殊的例子中，我們歷史最悠久的客戶之一承諾推進約 600 萬美元的多品牌 DAAP 計劃，該計劃原定於 2024 年第二季度啟動，但其內部審批流程略有延遲。

This customer is now nearly complete with its approval process and we expect full contract approvals to be completed in Q3 with conversion to revenue in the second half of 2024. I believe we would have surpassed consensus expectations on the top as well as the bottom had this timing shift not taken place. But the great news is that we're moving forward and the size of the transaction illustrates the power of the DAAP platform.

該客戶目前已接近完成審批流程，我們預計完整的合約審批將在第三季完成，並於 2024 年下半年轉化為收入。我相信，如果沒有發生這種時間轉變，我們將超越頂部和底部的共識預期。但好消息是我們正在向前邁進，交易規模說明了 DAAP 平台的力量。

Our objective continues to remain very clear: to convert as many of the over 300 brands we currently support to DAAP. And since the second half of 2023, we have made significant progress with this initiative and have seen tremendous momentum with our clients who want to convert to DAAP. With the number of deals continues to grow, we have accumulated enough market pricing knowledge to establish a more consistent pricing mechanism, as a way of making our revenue recognition less lumpy, stickier and more consistent over time.

我們的目標仍然非常明確：將我們目前支援的 300 多個品牌中的盡可能多的品牌轉換為 DAAP。自 2023 年下半年以來，我們在這項舉措上取得了重大進展，並且看到了想要轉換為 DAAP 的客戶的巨大勢頭。隨著交易數量的不斷增長，我們已經積累了足夠的市場定價知識，可以建立更加一致的定價機制，從而使我們的收入確認隨著時間的推移變得不那麼不穩定、更具粘性和更加一致。

We are in the process of rolling these out -- these changes out in Q3, as we continue along our evolution as a strategic partner to the top pharma companies in the world. In fact, we've seen a material separation between our top three pharma clients with average revenue per client at $9.7 million versus our top 20 pharma clients with an average revenue of $2.7 million, which we believe is a testament to the value our top clients see in our solutions as they continue to award larger share of their commercial wallet to OptimizeRx.

我們正在推出這些——這些變化將在第三季推出，同時我們作為世界頂級製藥公司的策略合作夥伴將繼續發展。事實上，我們發現前3 位製藥客戶的平均每位客戶收入為970 萬美元，而前20 位製藥客戶的平均每位客戶收入為270 萬美元，兩者之間存在顯著差異，我們認為這證明了我們頂級客戶的價值在我們的解決方案中可以看到，他們繼續將更大份額的商業錢包授予 OptimizeRx。

We -- while we are dealing with the timing issue, we are not seeing pullback from our clients on their spending in the second half of the year. Supported by an amazing team and a solid technology platform, our momentum is being driven by our ability to address our clients' largest challenge, to find and engage brand-eligible patients seamlessly. It's not just about purchasing media. It's about precise targeting with machine learning and a compliant methodology, which is delighting our clients and yielding positive ROIs to them.

儘管我們正在處理時間問題，但我們並沒有看到客戶在下半年的支出縮減。在一支出色的團隊和堅實的技術平台的支持下，我們有能力解決客戶面臨的最大挑戰，無縫地找到並吸引符合品牌資格的患者，這推動了我們的發展勢頭。這不僅是購買媒體的問題。它涉及透過機器學習和合規方法進行精確定位，這讓我們的客戶感到滿意並為他們帶來了積極的投資回報。

We are seeing continued customer adoption as pharma is looking for partners with scalable solutions with both HCP and DTC reach, interoperability across multiple points of care and capability to accurately report insights back in a timely manner.

我們看到客戶的持續採用，因為製藥公司正在尋找具有可擴展解決方案的合作夥伴，這些解決方案具有 HCP 和 DTC 覆蓋範圍、跨多個護理點的互通性以及及時準確報告見解的能力。

Since the second half of 2023, we've seen accelerated success in converting the 300-plus brands that we support to DAAP. In the first half of '24, we closed 17 DAAP deals, including eight in the second quarter, building on the 24 deals we closed in '23. These deals are direct pharma engagements, which generally are more sticky, enjoy a very high ROI, have a higher gross margin for our business and continue to support a higher annualized contract value of around $1 million.

自 2023 年下半年以來，我們在將我們支持的 300 多個品牌轉變為 DAAP 方面取得了加速成功。24 年上半年，我們在 23 年完成了 24 筆交易的基礎上，完成了 17 筆 DAAP 交易，其中第二季有 8 筆。這些交易是直接的製藥業務，通常更具黏性，享有非常高的投資回報率，為我們的業務帶來更高的毛利率，並繼續支持約 100 萬美元的較高年化合約價值。

As we have said, tracking our ability to convert from tactical to DAAP will provide a clear view of the longer-term growth potential of this business. Of note, we closed our first cross-sell for the DTC side of the business into a DAAP program and enhanced our overall commercial team and leadership as well as approached the second half for renewals, new launches and year-end reallocations, not to mention all the planning for 2025 that takes place in the last four months of the year.

正如我們所說，追蹤我們從戰術轉向 DAAP 的能力將為該業務的長期成長潛力提供清晰的視角。值得注意的是，我們將 DTC 業務方面的首次交叉銷售納入 DAAP 計劃，並增強了我們的整體商業團隊和領導力，並在下半年進行了續訂、新產品發布和年終重新分配，更不用說2025年的所有規劃都在今年的最後四個月內進行。

We are ready with our best team to date. In addition, we have dozens of DAAP deals in our pipeline. And as shared previously, approximately 50% is coming from the DTC side of the business with numerous opportunities in late-stage negotiations.

我們已經準備好了迄今為止最好的團隊。此外，我們還有數十筆 DAAP 交易正在醞釀中。正如之前所分享的，大約 50% 來自 DTC 業務，在後期談判中擁有大量機會。

OptimizeRx remains a leading company with combined technologies to both create dynamic audiences and execute messaging across proprietary point-of-care network for our clients.

OptimizeRx 仍然是一家領先的公司，其綜合技術既可以創建動態受眾，又可以透過專有的護理點網路為客戶執行訊息傳遞。

We continue to see organic growth as the key driver of our business. The team is focused on executing against our thesis of driving more cross-selling to our DTC and HCP clients and continuing to fine-tune the platform to maximize its revenue potential.

我們繼續將有機成長視為我們業務的關鍵驅動力。該團隊專注於執行我們的理念，即向 DTC 和 HCP 客戶推動更多交叉銷售，並繼續微調平台以最大限度地發揮其收入潛力。

Given our traditional close rate and pipeline conversion, we have over an 80% view for our revenue guidance for the year at this point and have approximately $15 million [go-get] remaining for the second half of the year to fall within consensus current expectations. We believe this is possible. We will keep everyone up to date as we move through the year.

考慮到我們傳統的成交率和管道轉換率，目前我們對今年的收入指導的看法超過 80%，並且下半年剩餘約 1500 萬美元[go-get]，以符合當前的共識預期。我們相信這是可能的。隨著這一年的進展，我們將向所有人通報最新情況。

And with that, I would like to turn the call over to our CFO, Ed Stelmakh, who will walk us through our financial details. Ed?

接下來，我想將電話轉給我們的財務長 Ed Stelmakh，他將向我們介紹我們的財務細節。艾德？

Thanks, Will, and good afternoon, everyone. The press release was issued with the financial results of our second quarter ended June 30, 2024, and a copy is available for viewing and may be downloaded from the Investor Relations section of our website. And additional information can be obtained through our forthcoming 10-Q.

謝謝威爾，大家下午好。新聞稿與截至 2024 年 6 月 30 日的第二季財務業績一起發布，副本可供查看，也可以從我們網站的投資者關係部分下載。您可以透過我們即將發布的 10-Q 獲取更多資訊。

Second-quarter revenue came in at $18.8 million, an increase of 36% from the $13.8 million we recognized during the same period in 2023.

第二季營收為 1,880 萬美元，比 2023 年同期的 1,380 萬美元成長 36%。

Gross margin for the quarter increased from 56.6% in the quarter ended June 30, 2023, to 62.2% in the quarter ended June 30, 2024. Year-on-year gross margin expansion is tied to higher DAAP-related revenue as well as a favorable channel partner mix. Our operating expenses for the quarter ended June 30, 2024, increased by $2.7 million year over year, largely due to the Medicx Health acquisition.

該季度的毛利率從截至2023年6月30日的季度的56.6%增至截至2024年6月30日的季度的62.2%。毛利率的年增率與 DAAP 相關收入的增加以及有利的通路合作夥伴組合息息相關。截至 2024 年 6 月 30 日的季度，我們的營運費用年增 270 萬美元，主要是由於收購 Medicx Health。

We had a net loss of $4 million or $0.22 per basic and fully diluted share for the three months ended June 30, 2024, as compared to a net loss of $4.1 million or $0.24 per basic and fully diluted share for the same three-month period in 2023.

截至2024 年6 月30 日的三個月，我們的淨虧損為400 萬美元，即每股基本股和完全稀釋股0.22 美元，而同一三個月期間的淨虧損為410 萬美元，即每股基本股和完全稀釋股0.24 美元2023年。

On a non-GAAP basis, our net income for the second quarter of 2024 was $0.3 million or $0.02 per fully diluted share outstanding as compared to a non-GAAP net loss of $0.2 million or $0.01 per fully diluted share outstanding in the same year ago period. Our adjusted EBITDA came in at $0.5 million gain for the second quarter of 2024 compared to $0.8 million loss during the second quarter of 2023.

以非GAAP 計算，我們2024 年第二季的淨利為30 萬美元，即每股完全稀釋流通股0.02 美元，而同年同期的非GAAP 淨虧損為20 萬美元，即每股完全稀釋流通股數0.01美元時期。2024 年第二季調整後 EBITDA 成長 50 萬美元，而 2023 年第二季虧損 80 萬美元。

Operating cash flow came in at $2.9 million for the first half of 2024, and we ended the quarter with a $15 million cash balance as compared to $13.9 million balance on December 31, 2023. The remaining principle of our debt financing currently stands at $37.3 million.

2024 年上半年的營運現金流為 290 萬美元，本季結束時我們的現金餘額為 1,500 萬美元，而 2023 年 12 月 31 日的現金餘額為 1,390 萬美元。目前我們債務融資的剩餘本金為 3,730 萬美元。

If you recall, to help fund the $84.5 million cash portion of last October's Medicx Health acquisition, the company took on a $40 million debt financing and we paid off $2.7 million of principal through the second quarter of 2024. We continue to believe we are well funded to execute against our operational goals.

如果您還記得的話，為了幫助為去年10 月收購Medicx Health 的8450 萬美元現金部分提供資金，該公司進行了4000 萬美元的債務融資，我們在2024 年第二季度還清了270 萬美元的本金。我們仍然相信我們有充足的資金來執行我們的營運目標。

Now let's turn to our KPIs for second quarter of 2024. Average revenue for top 20 pharmaceutical manufacturers now stands at $2.7 million, and we work with all of the top 20 largest pharma companies in the world. Net revenue retention rate is showing improvement at 124%, up from 89% in Q2 2023.

現在讓我們來看看 2024 年第二季的 KPI。目前，排名前 20 名的製藥商的平均收入為 270 萬美元，我們與全球排名前 20 名的所有最大製藥公司都有合作。淨收入保留率改善至 124%，高於 2023 年第二季的 89%。

Meanwhile, revenue per FTE came in at $658,000, topping the $565,000 we posted in Q2 2023. We are encouraged by the continuing improvement in our KPIs as we move past external market challenges and return to growth and profitability as a leader in our space.

同時，每個 FTE 的收入為 658,000 美元，高於我們在 2023 年第二季發布的 565,000 美元。隨著我們克服外部市場挑戰並恢復成長和獲利能力，成為我們領域的領導者，我們對 KPI 的持續改善感到鼓舞。

And now with that, I will turn the call back over to Will. Will?

現在，我會將電話轉回給威爾。將要？

Hey, operator, why don't we turn to Q&A. Thank you.

嘿，接線員，我們為什麼不轉向問答呢？謝謝。

(Operator Instructions) Ryan Daniels, William Blair.

（操作說明）Ryan Daniels、William Blair。

First one, maybe on the large client that was postponed. You didn't say it directly, but I assume that's stuck in medical legal review, number one. And number two, was there anything unique about this relative to other customers or the experience with this client in the past that caused that? And what's the level of your conviction that this will definitely start up at least by the end of the third quarter so that you can see some revenue recognition?

第一個，可能是在被延後的大客戶。你沒有直接說出來，但我認為這被困在醫療法律審查中，第一。第二，相對於其他客戶或該客戶過去的體驗，這是否有什麼獨特之處？您對至少在第三季末肯定會啟動以便看到一些收入確認的信念程度如何？

Ryan, thanks. Good question. Yes, we have complete conviction that it will start inside of Q3. The distinction here is how large it is. And obviously, that is just very telling against us scaling the DAAP solution. And not so much legal review, just process review. It's as pharma gets their arms around language, around machine learning and marketing, it's new. And that needs to be reviewed. But it's gone very well.

瑞安，謝謝。好問題。是的，我們完全相信它將在第三季內開始。這裡的區別在於它有多大。顯然，這非常不利於我們擴展 DAAP 解決方案。沒有太多的法律審查，只是流程審查。隨著製藥公司開始關注語言、機器學習和行銷，它是新的。這需要進行審查。但一切進展順利。

Obviously, we wanted it to happen faster. We always do. But high conviction, very meaningful. And it's with our largest standing -- our longest-lasting client, which we just -- the team just gets really excited about.

顯然，我們希望它發生得更快。我們總是這樣做。但信念很高，很有意義。這是我們最大的信譽——我們最長久的客戶，我們的團隊對此感到非常興奮。

Okay. That's very helpful color. And then if we think about the sales pipeline, maybe a few questions related to that. Any change in regards to what you're seeing with appetite for HCP versus DTC? I think the DAAP pipeline was kind of 50-50 last quarter.

好的。這是非常有用的顏色。然後，如果我們考慮銷售管道，也許會出現一些與之相關的問題。與 DTC 相比，您對 HCP 的興趣有何變化？我認為上個季度 DAAP 通路大概是 50-50。

And then number two, I'm curious if you're also seeing more interest in bundles as you've kind of integrated the two offerings and really have brought to market the first integrated model for traditional digital deal with point-of-care marketing.

第二，我很好奇您是否也看到了對捆綁產品的更多興趣，因為您已經整合了這兩種產品，並且確實將傳統數位交易與護理點行銷的第一個整合模型推向市場。

Yes. Steve, do you want to grab that one?

是的。史蒂夫，你想抓住那個嗎？

Yes, happy to. Ryan, thanks for the questions. We continue to see, in the pipeline, requests coming in now for opportunities to bid both on HCP and DTC-connected activity. And I think that's something we're really excited about. We just participated in our third innovation platform with a top-five client, where the goal of that platform, the goal of the event was innovative ways to connect HCP and DTC marketing to drive efficiency.

是的，很高興。瑞安，謝謝你的提問。我們繼續看到，現在有關於 HCP 和 DTC 相關活動競標機會的請求。我認為這是我們真正感到興奮的事情。我們剛剛與排名前五的客戶一起參加了我們的第三個創新平台，該平台的目標、活動的目標是連接 HCP 和 DTC 行銷以提高效率的創新方式。

And as you know, we had won the last couple that we were in with what we've done with DAAP. So very excited to see that go forward. And we see that same activity level reflected in the pipeline. I think, the demand from the market is very, very clear. And I think pharma has really wrapped their head around creating efficiencies of bringing those two together.

如您所知，我們透過 DAAP 所做的工作贏得了最後幾場勝利。看到這項進展非常興奮。我們看到管道中也反映了相同的活動水平。我認為，市場的需求是非常非常明確的。我認為製藥公司確實致力於提高將這兩者結合在一起的效率。

I think what they don't know yet, and we're all sort of wading through it together as we go is what execution might look like at scale, rather, and so we'll have more to report back on that next time we speak. But as you heard from Will's prepared comments, we've already closed the first HCP/DTC cross-sell via DAAP. So we're to now see how that goes and performs.

我認為他們還不知道的是，我們在進行過程中都在一起涉水，而大規模執行可能會是什麼樣子，所以下次我們會報告更多內容說話。但正如您從 Will 準備好的評論中聽到的那樣，我們已經透過 DAAP 完成了第一個 HCP/DTC 交叉銷售。所以我們現在要看看它的進展和表現如何。

And as with everything that we've seen in pharma together and over the last 20 years of my career, they'll do something, test it. If it works well, they'll scale it and that's consistent with what we've seen across the board in the business.

正如我們在製藥業以及我職業生涯過去 20 年中所看到的一切一樣，他們會做一些事情，進行測試。如果效果良好，他們就會擴大規模，這與我們在整個產業所看到的情況是一致的。

Okay. And then just in regards to the overlap with Medicx, I know maybe two or three quarters ago, you indicated it was about a 20% overlap. Given the integration of the asset and your sales, can you give us an update on how that's trended so we can view what the potential upsell cross-sell opportunity is there?

好的。然後就與 Medicx 的重疊而言，我知道可能在兩到三個季度前，您表示大約有 20% 的重疊。鑑於資產與您的銷售的整合，您能否向我們提供最新的趨勢信息，以便我們了解潛在的追加銷售交叉銷售機會？

Yes, I'd say there's been really good movement there. Relative to the closing of brands as we've messaged, we expect a lot of that to really trigger in the second half because we're coming up, October would be the one-year anniversary. Everyone tells you it takes a year, even though you hope it takes a month. And we've seen just great cooperation among the team.

是的，我想說那裡的運動非常好。相對於我們所傳達的訊息，我們預計許多品牌的關閉將在下半年真正觸發，因為我們即將到來，十月將是一周年紀念日。每個人都告訴你這需要一年的時間，儘管你希望這需要一個月的時間。我們看到了團隊之間的良好合作。

We've seen curiosity from the client, which drives meetings and -- so I would say, come Q3, we'll be able to sort of quantify that relative to the 20%. I can't do that today, but all signs are positive that the groups are working as a group and as a team, not as different groups, and we've done a good job with the training to make sure they feel they've got the skills and the resources to represent everything we do.

我們看到了客戶的好奇心，這推動了會議，所以我想說，到第三季度，我們將能夠相對於 20% 進行量化。我今天無法做到這一點，但所有跡像都是積極的，這些小組正在作為一個小組和一個團隊工作，而不是作為不同的小組，我們在培訓方面做得很好，以確保他們感覺自己已經擁有代表我們所做一切的技能和資源。

Got it. All right. And again, I know it fell short given the timing issue, but given that it's just timing, I'll still say congrats on the strong performance and the momentum you're seeing.

知道了。好的。再說一次，我知道考慮到時機問題，它還不夠，但考慮到這只是時機，我仍然要祝賀你所看到的強勁表現和勢頭。

Kyle Bauser, B. Riley Securities.

凱爾·鮑瑟 (Kyle Bauser)，B. 萊利證券 (Riley Securities)。

Great. So just, Will, I think you mentioned in the prepared remarks that in relation to full year guidance, you've got about 80% visibility in revenues with $15 million go-get. Can you maybe help put that in perspective? For example, this time last year, how much incremental sales did you generate? Or maybe in another way, just trying to understand kind of your conviction here.

偉大的。威爾，我想您在準備好的演講中提到，就全年指導而言，您的收入可見度約為 80%，有 1500 萬美元的目標。您能否幫忙正確看待這一點？例如，去年這個時候，您的銷售增量是多少？或者也許以另一種方式，只是想了解你在這裡的信念。

Yes. So strong conviction, otherwise wouldn't say it. The last year was a little bit of an anomaly because we actually saw business turn up faster than we thought. But generally, we're between 75% and 85% at this point. So I feel good about where we are. When you're scaling a new solution inside of a business, it's always -- there's always challenges like this timing. And also, we bought a company last year, right?

是的。如此堅定的信念，否則不會說出來。去年有點反常，因為我們實際上看到業務成長速度比我們想像的要快。但一般來說，我們目前處於 75% 到 85% 之間。所以我對我們現在的處境感覺很好。當您在企業內部擴展新的解決方案時，總是會遇到像這樣的時間表方面的挑戰。而且，我們去年買了一家公司，對嗎？

And we expect them to start to show some nice growth in the second half just based on some of the fine-tuning we've done around the team, the messaging and the training. So good strong conviction, not atypical of where we are, not tremendously better either. I don't want to paint the wrong picture, but feel good about it.

我們預計，基於我們圍繞團隊、訊息和培訓所做的一些微調，他們將在下半年開始表現出一些良好的成長。如此強烈的信念，對於我們所處的情況來說並不罕見，也不是特別好。我不想畫錯圖，但感覺良好。

Got it. Appreciate that. That's helpful. And then maybe two more questions. First, seasonality. I know we're kind of on track for doing about 60% of total sales in the back half of the year. So any color you can provide on kind of Q3, Q4 seasonality?

知道了。很欣賞這一點。這很有幫助。然後也許還有兩個問題。第一，季節性。我知道我們預計在今年下半年實現總銷售額的 60% 左右。那麼您可以提供第三季、第四季季節性的任何顏色嗎？

And then separately, you've talked about streamlining reporting and analysis to kind of engage with executives and the data analytics teams. Can you talk about improvements here and how that's kind of been paying off by either winning follow-on projects or referrals, et cetera?

然後，您分別談到了簡化報告和分析以與高階主管和數據分析團隊進行互動。您能否談談這裡的改進以及如何透過贏得後續項目或推薦等獲得回報？

Sure. Let me start with that second one first and then maybe Andy can talk to the seasonality relative to the numbers. On the additional insights and -- automating insights and that is what we've really focused on over the last year is fine-tuning data and reporting because the industry really adopted fully what we're doing in this space at point of care. And when they do that, they want every data point they can get, which is terrific. That's how they make their decisions and it's -- and so we worked very hard to get to that point.

當然。讓我先從第二個開始，然後安迪也許可以談談相對於數字的季節性。關於額外的見解和自動化見解，這就是我們去年真正關注的重點是微調數據和報告，因為業界真正完全採用了我們在護理點在這個領域所做的事情。當他們這樣做時，他們想要獲得可以獲得的每個數據點，這非常棒。他們就是這樣做出決定的，所以我們非常努力地達到了這一點。

In that process, we realized that 10 years doing something no one else has done gets you a lot of really unique skill set and data. And as we invested in our team, the reporting team and the data stack and data management, we realized that we actually have some really interesting proprietary insights. That is -- those are early days.

在這個過程中，我們意識到，花 10 年時間做別人沒有做過的事情可以讓你獲得很多真正獨特的技能和數據。當我們投資我們的團隊、報告團隊以及資料堆疊和資料管理時，我們意識到我們實際上擁有一些非常有趣的專有見解。也就是說──那些還處於早期階段。

Right now, we're focused on getting DAAP to scale, getting DTC to grow and bring those two together as a combined value prop and probably inside of RFP season is when we'll start to talk to clients about '25 relative to incremental insights. If it happens sooner, that would be great, but we're not counting on that.

目前，我們的重點是讓DAAP 規模化，讓DTC 成長，並將這兩者結合在一起作為一個綜合價值支柱，並且可能在RFP 季節內，我們將開始與客戶討論'25 相對於增量洞察的問題。如果它發生得更早，那就太好了，但我們並不指望這一點。

Andy, you want talk to seasonality?

安迪，你想談談季節性嗎？

Yes. Yes. As far as seasonality goes, roughly 25%, at max, 30% of our full year revenue would be in the third quarter. The remainder fall into the fourth. So yes, it's pretty much the general cadence over the last few years.

是的。是的。就季節性而言，我們全年收入的約 25%（最多 30%）將來自第三季。其餘的則屬於第四種。所以，是的，這幾乎是過去幾年的普遍節奏。

Max Michaelis, Lake Street Capital.

馬克斯·米凱利斯，湖街資本。

If we're looking at the size of your DAAP deals in the pipeline, so the $6 million DAAP deal you mentioned this quarter, I mean have you seen a material change, I guess, the level of the size of DAAP deals going forward in the pipeline? And then I guess on top of that, if we look at your top 20 customers, top three are spending $9.7 million and the average at $2.7 million. Have you seen that average creep up? I guess, going forward, do you expect that to creep up going forward with the remaining 17 pharmaceutical companies?

如果我們正在研究 DAAP 交易中正在醞釀的規模，那麼您在本季度提到的 600 萬美元 DAAP 交易，我的意思是，您是否看到了重大變化，我猜，未來 DAAP 交易規模的水平管道？我想除此之外，如果我們看看前 20 位客戶，前三位的消費額為 970 萬美元，平均消費額為 270 萬美元。你看到平均數的上升了嗎？我想，展望未來，您預計其餘 17 家製藥公司的情況會逐漸好轉嗎？

So yes, it's interesting. I think the DAAP size is proportional to our tenure with clients, right? There's just more trust, more adoption and they were some of the early adopters. So -- and those would clearly fall in the top three. So it kind of answers both. We're seeing -- and that's why we called it out. We're seeing quite a big difference between the top three average and our top 20.

所以是的，這很有趣。我認為 DAAP 的規模與我們與客戶的任期成正比，對吧？只有更多的信任、更多的採用，他們是早期採用者之一。所以——這些顯然會進入前三名。所以它同時回答了這兩個問題。我們正在看到——這就是我們呼籲的原因。我們發現前 3 名的平均值與前 20 名之間存在很大差異。

And our job is pretty straightforward. Get the other 17 to do the same thing, and we're a much bigger business. So when we talk about converting our 300-plus brands to DAAP-related, that is the mission. It's very straightforward.

我們的工作非常簡單。讓另外 17 個人也做同樣的事情，我們的業務就更大了。因此，當我們談論將 300 多個品牌轉變為 DAAP 相關品牌時，這就是我們的使命。這非常簡單。

Steve, any other color you want to put on that relative to the process and how it's going?

史蒂夫，你想在這個過程中添加任何其他顏色嗎？

Yes. I would just add that the $6 million was not for one single DAAP deal, it was several deals, so -- with the same client, same multiple assets that is supporting in line. And then the other thing I would say is ACV continues to be either consistent or ticking up, Max, and I think that was one of the questions that you asked. So it's very consistent and linear in terms of the progress that we're seeing, but what we're seeing -- we're seeing an acceleration of interest.

是的。我想補充一點，這 600 萬美元不是針對單一 DAAP 交易，而是針對多筆交易，因此，對於同一客戶、相同的多個資產來說，這是一致的支持。然後我要說的另一件事是 ACV 繼續保持一致或上升，Max，我認為這是你問的問題之一。因此，就我們所看到的進展而言，這是非常一致和線性的，但我們所看到的是——我們看到了興趣的加速。

And I think that's what you're hearing the positivity in our voice because of the acceleration of interest. And as Will said, it's pretty clear. We know what we need to do. We just need to be about it, so to speak, but good questions.

我認為這就是你從我們的聲音中聽到的積極性，因為興趣的加速。正如威爾所說，這很清楚。我們知道我們需要做什麼。可以這麼說，我們只需要關注這個問題，但問題是好問題。

(Operator Instructions) Stephanie Davis, Barclays.

（操作員說明）Stephanie Davis，巴克萊銀行。

This is [Anna Krasinski] on for Stephanie. I was wondering if we could talk a little more about the cross-sales into the Medicx customer base and just more on how that trended versus your expectations. And if you think you have adequate sales head count to block and tackle all of these prospects or if there are more investments as part of your forward strategy.

這是史蒂芬妮的[安娜·卡拉辛斯基]。我想知道我們是否可以多談談 Medicx 客戶群的交叉銷售，以及與您的期望相比的趨勢。如果您認為自己有足夠的銷售人員來阻止和解決所有這些潛在客戶，或者是否有更多投資作為您的前瞻性策略的一部分。

And Steve, do you want to grab that one?

史蒂夫，你想抓住那個嗎？

Yes, happy to. Thanks for the question. I think what we've seen is good integration and teamwork between the teams as far as approaching clients. We definitely are fully staffed right now. We hired several additional sales folks, which I think are reflected in the numbers that are from key competitors that Medicx had that are sort of top-performing businesses in the space. So we feel really good about the talent that is on board and working on behalf of the business.

是的，很高興。謝謝你的提問。我認為，就接觸客戶而言，我們看到的是團隊之間良好的整合和團隊合作。我們現在絕對是人手充足。我們聘請了幾名額外的銷售人員，我認為這反映在 Medicx 的主要競爭對手的數字中，這些競爭對手是該領域表現最好的企業。因此，我們對船上代表企業工作的人才感到非常滿意。

At this point, I think it really is just about focusing and we spent the first half of the year investing in getting those people on board, making sure that we were appropriately staffed, trained, et cetera, I think we'll start to see the fruits of that bear in the second half. And so our confidence is very strong in the Medicx business performing well in the second half.

在這一點上，我認為這實際上只是集中精力，我們花了上半年的時間投資讓這些人加入，確保我們配備適當的人員、培訓等等，我想我們會開始看到下半年將結出碩果。因此，我們對 Medicx 業務下半年表現良好充滿信心。

In terms of first half performance, I think it's about where we expected it to be, maybe a little bit behind. As Will said, we all want to microwave success when we first acquire something. It's never really as easy as we think it's going to be in spite of our best efforts. So we continue to work on it. We've got great leadership on it, and we'll continue to chop the wood.

就上半場的表現而言，我認為這與我們預期的情況差不多，可能有點落後。正如威爾所說，當我們第一次獲得某樣東西時，我們都希望獲得成功。儘管我們盡了最大努力，但事情從來沒有像我們想像的那麼容易。所以我們繼續努力。我們在這方面擁有出色的領導力，我們將繼續砍柴。

Got it. That's super helpful. And then just as a quick follow-up. So last quarter, you talked about like the macro stabilizing. And just curious, given like the recent volatility in the market, is this trend still intact? Or if you have any sort of updated macro forecast to share?

知道了。這非常有幫助。然後作為快速跟進。所以上個季度，您談到了宏觀穩定。只是好奇，考慮到最近市場的波動，這種趨勢是否仍然完好無損？或者您有任何更新的宏觀預測可以分享？

Nothing more than we said in the prepared remarks, just that we're not seeing a pullback. The headwinds that we had a year ago are largely gone. FDA is cranking. Pharma is very focused on allocating funds to digital reach and measuring it, make suring it's scalable and effective. We have an election coming up, I think that won't largely affect pharma spending. Certainly, if we were all media-only, you could argue there's sometimes a squeeze around that time, but we don't see that impacting our business.

無非是我們在準備好的發言中所說的，只是我們沒有看到回調。一年前的阻力已基本消失。FDA 正在啟動。製藥公司非常注重為數位化覆蓋範圍分配資金並對其進行衡量，以確保其可擴展且有效。我們即將舉行選舉，我認為這不會在很大程度上影響製藥支出。當然，如果我們都只專注於媒體，您可能會說有時會出現擠壓，但我們認為這不會影響我們的業務。

And I'd like to turn the call back to our speakers for any closing remarks.

我想將電話轉回給我們的發言人，讓他們發表結束語。

Terrific. Thank you, operator, and thanks, everyone, for joining us today. While we needed to address the timing issue during the second quarter with our largest client buying more DAAP, as a team, we're excited with positive momentum and the impactful platform that we've built in this market. We're evolving to be a much stronger place than a year ago, and that's what motivates us as a team.

了不起。謝謝運營商，也謝謝大家今天加入我們。雖然我們需要在第二季度解決時間問題，因為我們最大的客戶購買了更多 DAAP，但作為一個團隊，我們對我們在這個市場上建立的積極勢頭和有影響力的平台感到興奮。我們正在發展成為一個比一年​​前更強大的地方，這就是激勵我們作為一個團隊的原因。

Our collaboration with pharma manufacturers to reach healthcare professionals and patients is meaningful in the market, fueled by our innovative AI-generated models, proprietary data sets and a decade of point-of-care marketing. This market advantage helps us address and overcome many challenges.

在我們創新的人工智慧生成模型、專有資料集和十年的護理點行銷的推動下，我們與製藥商合作接觸醫療保健專業人員和患者在市場上具有重要意義。這一市場優勢幫助我們應對並克服許多挑戰。

Today, we profoundly offer -- proudly offer, sorry, a comprehensive solution that integrate various components into agile, powerful AI-enabled commercialization strategies. These strategies effectively tackle crucial issues such as brand awareness, education, affordability and the recruitment of hard-to-find patients.

今天，我們深深地提供——抱歉，自豪地提供一個全面的解決方案，將各種組件整合到敏捷、強大的人工智慧商業化策略中。這些策略有效地解決了品牌知名度、教育、負擔能力和招募難以找到的患者等關鍵問題。

These are daily challenges for our clients, doctors, and patients face in the current health care environment, and we're thrilled to be part of that solution. Our dedication to supporting doctors and patients and aligning on quality of care is a driving force behind our team and our culture.

這些是我們的客戶、醫生和患者在當前醫療保健環境中面臨的日常挑戰，我們很高興能成為解決方案的一部分。我們致力於支持醫生和患者並調整護理質量，這是我們團隊和文化背後的驅動力。

We look forward to connecting with everyone in the upcoming investor events and our next earnings call. We will provide updates on our annual outlook if there's any changes to our current guidance range. Thank you for your time and belief in the OptimizeRx team. Thank you. Operator?

我們期待在即將舉行的投資者活動和下一次財報電話會議中與每個人建立聯繫。如果我們目前的指導範圍有任何變化，我們將提供年度展望的最新資訊。感謝您的時間以及對 OptimizeRx 團隊的信任。謝謝。操作員？

Thank you, sir. Before we conclude today's call, I'd like to provide the company's Safe Harbor statement that includes important cautions regarding forward-looking statements made during today's call.

謝謝您，先生。在我們結束今天的電話會議之前，我想提供該公司的安全港聲明，其中包括有關今天電話會議期間做出的前瞻性陳述的重要警告。

Statements made by management during today's call may be contained forward-looking statements within the definition of Section 27A and the Securities Act of 1933 as amended and Section 21E of the Securities Act of 1934 as amended. These forward-looking statements should not be used to make investment decisions. The words anticipate, estimate, expect, possible and seeking and similar expressions identify forward-looking statements. They may speak only to the date that such statements are made.

管理階層在今天的電話會議上發表的聲明可能包含符合 1933 年證券法修訂案第 27A 條和修訂案以及 1934 年證券法修訂案第 21E 條定義的前瞻性陳述。這些前瞻性陳述不應用於做出投資決策。預期、估計、期望、可能和尋求等詞語以及類似的表達方式識別前瞻性陳述。他們只能在發表此類聲明之日發表言論。

Such forward-looking statements in this call include statements regarding estimation of total addressable market size, market penetration, revenue growth, gross margin, operating expenses, profitability, cash flow, technology, investments, growth opportunities, acquisitions, upcoming announcements and the need for raising additional capital.

本次電話會議中的此類前瞻性陳述包括有關估計總目標市場規模、市場滲透率、收入增長、毛利率、營運費用、盈利能力、現金流量、技術、投資、成長機會、收購、即將發布的公告以及需求的陳述。

They also include the management's expectations for the rest of the year and adoption of the company's digital health platform. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, further future events or otherwise. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by or underlying these forward-looking statements.

其中還包括管理層對今年剩餘時間的預期以及公司數位健康平台的採用。本公司不承擔公開更新或修改任何前瞻性陳述的義務，無論是由於新資訊、進一步的未來事件或其他原因。前瞻性陳述本質上受到風險和不確定性的影響，其中一些風險和不確定性無法預測或量化。未來事件和實際結果可能與這些前瞻性陳述中闡述、預期或潛在的結果有重大差異。

The risks and uncertainties to which forward-looking statements are subject to include, but are not limited to, the effects of government regulation, competition and other material risks. Risks and uncertainties to which forward-looking statements are subject to could affect business and financial results and are included in the company's annual report on Form 10-K for the quarter ended December 31, 2023, subsequent quarterly reports on Form 10-Q and its other filings with the Securities and Exchange Commission. These forms and filings are available on the company's website and on the SEC website at sec.gov.

前瞻性陳述所面臨的風險和不確定性包括但不限於政府監管、競爭和其他重大風險的影響。前瞻性陳述所面臨的風險和不確定性可能會影響業務和財務業績，並包含在本公司截至 2023 年 12 月 31 日的季度 10-K 表格年度報告、隨後的 10-Q 表格季度報告及其向美國證券交易委員會提交的其他文件。這些表格和文件可在公司網站和 SEC 網站 sec.gov 上取得。

Before we end today's conference, I would like to remind everyone that this call will be available for replay via webcast only starting later this evening running through for a year. Please refer to today's press release for replay instructions available via the company's website at www.optimizerx.com.

在我們結束今天的會議之前，我想提醒大家，這次電話會議將透過網路廣播重播，從今晚晚些時候開始，持續一年。請參閱今天的新聞稿，以了解可透過本公司網站 www.optimizerx.com 取得的重播說明。

Thank you for joining us today. This concludes today's conference. You may disconnect your lines.

感謝您今天加入我們。今天的會議到此結束。您可以斷開線路。