OptimizeRx (OPRX) 14 May 242024 Q1 Earnings call transcript

Company Profile

Participants

William Febbo	executive
Stephen Silvestro	executive
Edward Stelmakh	executive
Ryan Daniels	analyst
Eric Martinuzzi	analyst
David Grossman	analyst
Constantine Davides	analyst
Stephanie Davis	analyst
William Wood	analyst
Andrew D'Silva	analyst

Call transcript

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Operator

Good afternoon, everyone, and thank you for joining OptimizeRx's First Quarter Fiscal 2024 Earnings discussion. 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 Odense 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. today's company's and website. in section the included the of are press in release Investors Instructions

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

William Febbo

afternoon earnings to you, XXXX call. announcement. our came delighted I'm April and which Thank share results, ahead everyone earnings today's operator, to in today's first joining XX quarter good of preliminary unaudited

end has increasing which dynamics. QX XXXX by continued our high XX% topped to from with driven revenues into range. Momentum QX revenue million, year-over-year $XX.X the being Growth of preannounced XXXX, is competitive favorable

We of engagement that for have seeing and report accurately care interoperability HCP in pharma offerings partners in scalability is reach, terms of capability timely to are looking stronger back manner. customer true and insights precision points with a multiple integrated DTC as across

to The with precise for tailwinds marketing lead and efficient our clients we welcome care. and as a more platform are health continue around

right the in are We right at the time. place

line strength Health acquisition. a or as Medicx our year-over-year Audience clear from DAAP, as Our Platform, Dynamic our was Activation top for well demand by driven

Our to as between I DTC validated, bases. gain DAAP, we thesis from believe be potential significant have upside and the share is HCP smarter that cross-selling solutions, market such and continuing customer will

Therefore, company. building at is history our Recall, it pipeline platform. XX% unprecedented XXX-plus should the a surprise customer be the had on an we in-year only brands not the acquisition, rate base the as time about of the overlap among at that in a

over and XXXX. quarter to last well QX has as carried of of financial as from first continuity momentum, This operational the year,

signed XX are on signed start, in DAAP are the quarter, we on X we the off a to strong year, in having We optimistic this deals building deals 'XX. and

to minimum fine-tune visibility continue year, of as adjusted reach the million we appropriate. maintaining $XXX revenue watch least for XXXX calls our an and at to the we our guidance, of will EBITDA with million a are $XX for While which for numbers

continued adopting. a surpass nascent retain the that And team effort and without be the of and the would the platform dynamic all is to our pharma engagement technology industry excel to a to and every patients digital growth concerted prescribers. expectations mission-driven I for fundamentally on reliable The among solutions enhance OptimizeRx through not culture landscape company still navigate dynamics partner. want market-leading will complex pharma, Our attract, will our relationships to very marketing their and be team everyone needs yet a possible marketing reshape day. OptimizeRx that strives thank

the updates. I'll on to company that, turn it as With over to President, Steve? other well color as commercial Silvestro, give Steve DAAP more

Stephen Silvestro

Will. Thanks,

algorithms Activation to patients. with opportune at of call-to-action means the sent A to and appropriate patient find and Simply brand-eligible Once message time. a patient communication As best of by the DAAP HCP in Dynamic sea we is, reminder, work Platform our finder essence, the put, that brands then that found, triggered through serve. can searching determines patient-level existing or AI-powered most the be data pharma for Audience an doctor DAAP patient.

to it's the This the found commonly enables drive messaging Leveraging the time, learn is to when and process OPRX in person execution. lift. relevant over space. past most spray-and-pray so and peer recurring the script algorithms instead improving as group's information our this move deliver to correct technology appropriate likely

seen of that with is XXXX. scalable had environment brands, to what a the with which and meaningfully among what in marketing platforms line deeper build continuing within the and so, line pharma end pharma precision all the is start falling looking better agile doctors promising to relationships doing DAAP XXXX. capabilities, half we're The with was in very is in partner to trends helping have pharma which as In of enables. industry selling patients core a falls market, first XXXX With company to in contrast we've that to said, experience

Our strategy progressing commercial integration between OptimizeRx schedule. ahead Health is Medicx and also of

in the with DAAP numerous approximately direct-to-consumer of XX% pipeline dozens the our late-stage business, from of coming deals side with opportunities negotiations. have We in

With of as with and stand Medicx platform the reach. both most the scalable addition we HCP Health capabilities, direct-to-consumer out

the This $X unique estimate don't opportunity be brands value unlocking to strengthens support. billion, This favorable get ability potential positioning exceeding which environment enhances beyond. with financial to and XXXX our upsell, existing confidence targets in our cross-sell even we alone our meeting over for with potential significant brands greater and the for in or we

strategically DAAP with last larger, client the limited several foundational base. development tailored overhead. to top been more our capabilities for our that's additional in-house With grow us its targeted relevant OPRX the has a making over years work These specifically line deals are marketers, now pharmaceutical ability materially the stickier partner with and

With our highly emphasis Medicx Health DTC placing impactful component. a we acquisition, are to extra accelerate

been best never has continue the mission to yet come. our that believe is to and we forward, clearer, Moving

addition X of we OPRX's pioneering reach transparent DAAP removes point XXX a AI-directed holistic for able solution and seamlessly mystique in which marketing and of have media, the With nearly of a million that's offering omnichannel pharmaceutical the integrating lives million HCPs. to care to capability, network, foundational and traditional digital

data. outside next on real-world coupled the Our best with are enhanced of powerful EHR, DAAP, action AI capabilities platform, based driving channels

in alerts As while to well and of AI. to efficiency figure power is our are all which is foster how trying social channels, forces. other customer media the as now digital display a communication out CRM collaboration with solution apply space with OPRX result, AI used greater media, to expanding and its app sales still clients, mass others as web work

over with walk CFO, like us details. to who our the and Stelmakh, that, will to the Ed the I'd And turn call through financials Ed?

Edward Stelmakh

everyone. XXXX. of and quarter our An our and financial with available copy XX, from good Thanks, March additional forthcoming downloaded of the our information Relations obtained XX-Q. section Investor results may be Steve, is first press website. for through issued afternoon, was ended release A The viewing be can

in in margin increased quarter of came million million, in from during an the increase XX.X% the $XX quarter in ended higher revenue Year-on-year favorable to to XX, gross recognized mix. the revenue XX, set the as March channel margin quarter quarter XXXX. XXXX. partner at as the ended for a XXXX, expansion from GAAP-related $XX.X period same XX% well March is First XX% Gross

remainder $X.X but for March Our for $X.X acquisition. XXXX, the year-over-year, XX, quarter operating expenses in expenses the in million largely acquisition-related Health $X.X ended tied the severance fees million increased to the million increase, by Medicx of included and

loss fully per XX, share We $X.XX $X.X had in a net to loss first net same million fully quarter $X.XX and basic net diluted in $X.XX million the was X non-GAAP loss of of outstanding or for per compared year loss XXXX. basic million or for On the non-GAAP and or a ended a a fully or of $X.XX March fully per per diluted diluted million share $X.X share $X.X period $X same XXXX, of to months X-month diluted basis, net the XXXX the period. in outstanding our shares compared ago

to XXXX, ended first Our million million we December adjusted cash compared at of million loss came to Operating EBITDA first quarter of the came in with cash $X.X during the XXXX. $XX.X million at $X.X XX, for the flow in first $XX.X of of and on same XXXX. quarter quarter $X.X for the balance quarter loss compared a XXXX million

currently balance at stands debt $XX.X million. Our

of portion million to Health the $XX of of Medicx took debt the October first to acquisition, principal If company with XXXX. $X.X beta financing you fund million recall, $XX.X the our help on cash quarter of in and million

to continue goals. we believe We funded operational are execute to against well our

all first the $XXX,XXX retention XXXX. And at XX up world. revenue we pharma Average from KPIs now with the revenue for improvement stands of with in million, that, rate let's we in came turn largest XX% for and showing XXXX. XX manufacturer quarter topping at XXX%, work commercial to FTE top our Meanwhile, posted $X.X Net in now top QX $XXX,XXX, in revenue is companies QX per at the XXXX.

We're market growth return we move a external KPIs challenges as leader to profitability in in our fast as encouraged continuing the space. our and by to and improvement

back to the will the turn for I that, operator with call Now over Q&A.

Operator

Blair. And our Instructions] the line with question first from of William Daniels [Operator Ryan is

Ryan Daniels

maybe strong Congrats year. on Well, you. the for very start X the to

I ROI and platform, get the relatively you, of what platform As type and get novel but curious deploy you for DAAP, data customers, the leverage metrics know a you've it maybe to been of we knowledge scale it's as to still at more able improvements I'm look improve more product? see to how that

William Febbo

they're proof just the is I Ryan, because But clients anybody. more more learning thanks. all yes, Yes, discerning probably there's time. than the mean, best Yes,

in that's other who I X.X now Recall, years from think an started. DTC scientists And the we brought also have expertise. excellent data who we've of experience bring this. doing of we've their -- team when we got really side teammates now

resonating. X value really about think proposition and have are is simple foundational return the really off. helping made on proposition, more our And I better analysis starting the be value is clients with dollars, We've and which partner infrastructure last investments you pay also a more and streamline marketing if year successful to our some data really think and their which sharpened reporting to it do

is a the data And with just reporting why we're obviously dealing you're technology holistic with actually teams. so clients and engage just with relationship, particular teams, an we brand more when analytics stickier, recall, really you're which a executive this not Because dealing creates manager, on excited. teams, partnership, this

I Steve, But as bring to that you to the well out question? anything leave did want up

Stephen Silvestro

you as mean our average XX:X been think I ROI our know, roughly said I it. you No, tracking Ryan, time. over average, has

going said, specifically we've plethora to of investment learn have return live I and at for been foundational I look grow quite DAAP DAAP, bit continues data there. a you And to period time. to higher Will as you're think think got of if now of see were because much that our deals on

carries on, and the smarter that get learning and they And so algorithms is. as the machine smarter, smarter

become get smarter, improves and ROI. And so as more that the precise they they

nicely, it for cover we'll a trickle but think tick I up So a the XX:X up, sure. of definitely,

Ryan Daniels

maybe, X for helpful you. super Okay. then color. Steve, That's another And

improving internal year with in tone FDA being stability curious You market with with so or quite you about that ago. their if was were more specific and different pharma the pretty And think broader the and improvements pharma your in really a to of end it staffing? companies I'm just than conversations relates manufacturers

in scale, the in resonating the DAAP your in really which improvements market, got now and Or DTC offering product power is it you've combined the HCP that's there especially market. a in as unique is at

of of any I it's important those is an So is Is data one maybe there both it more X point. color think it things? them? Just

Stephen Silvestro

the Yes, it's I thanks both. question. think actually for

sort back, I pharma getting of back to are more of pharma cyclically approved. more. at the table. think sort They're coming that They're now meaning markets looking that is drugs spend

obesity of following months market going sort You're to that That the very blockbusters in is seeing some think, I here, years. everybody become for get approved. frothy coming and

that So back. much I it's back, I is focused. spend But think, addition in that, while is, spend more think to

pandemic I position and they try to think try pharma sort some of were to anything during where coming in sort because some and of coming a could the to to they digital needed get laggards in leverage the connectivity digital the out table. they of was just pandemic, transformation

sorted that of they've several that looks sort picked you where the that they having as table, invest. to years, dial key the from at they've through we're now see, that the expanded appears it, I it of think want of a last investments. to around winners can in And couple Now

sort that, of both about but balance would I great those it's of say feeling a things. So of

Ryan Daniels

we on think then all to could gross you're that kind in if Okay. what any X seeing to sales? the the you And the and the the market gross I'm XX% X remainder of forward if given just can you. margins momentum of you unique for margin speak are there's of solid if in curious nuances quarter, there Ed, Perfect. low year, in the throughout carry maybe quarter.

Edward Stelmakh

Yes. Thanks, Ryan. Yes.

DAAP margin gross QX driven is being certainly early in by success So the year.

around DAAP we potential sell the And the certainly, the models. rest we a I it some carry As more you to through XX% continuing Will certainly throughout be of there's to make year? more grow. of we when that materializes, year. assumptions if have margin north know, mean,

Operator

Street. Our is Lake next of from with question the line Martinuzzi Eric

Eric Martinuzzi

make be but to flat we QX number normal to I a why on of read seasonality kind revenue, QX. specific the for be good Not QX looking to seasonality. wanted Any slightly a I Yes. had would for reason that historically, up for sure would XXXX. outside

William Febbo

I No, go think forward. go you ahead, could Oh,

Edward Stelmakh

continue there reason that yes, Eric, so be should no why this shouldn't year.

last So modeling you you're you for as the assume had thing numbers year, same year. should the absolutely

Eric Martinuzzi

we and are that qualify? saw deals the Okay. should in know, these And XXXX, I equal, DAAP of in 'XX. size-wise, then DAAP me we but in about? and what transactions we that Remind that that are we're qualifies all Is And I'm cadence curious guess to 'XX, X again the had it to deals had here not then beyond? expect million-plus same takes QX what talking we QX

William Febbo

that to Steve, take you one? want

Stephen Silvestro

Let voice. $X problem. annualized Yes, me average, to on no million. take that running, basis, good they're your Eric, about one. an on Yes, hear still

an think a million, I positive, a those. negative the we're still is basis. and roughly the seeing annualized to But the little that's little ACV-wise, $X on to on average

to think we when I all feeling DAAP about the how determine deal, where just depending of close So pull we're compared now strong the optimistic we pretty in and much year. we growth it. But will feeling is on into are about will that sort were revenue where great the

William Febbo

that, And to add just to Eric.

a Your of essentially world, and message DAAP really with model in It's data qualifies our qualifies combination a deal? analysis what question building, was delivery. as as and DAAP a deal. combined that's what --

Operator

line our with is Stifel. next of from question Grossman David the

David Grossman

the the and I'm curious, it may material of within wondering the have the pretty business? there DTC stability you I'm will, like we whether of that year-on-year you existing X visibility affect revenue noticed how difference improved combination business HCP if And -- looked opportunity, the you given more or not the is base. just just just stream and wondering could a revenue retention between the And net if -- significantly. the the

William Febbo

world things our acquisition into start Yes. with of then Medicx over think an hand fact them that we of and about DAAP world to the But the we our like we the visibility. did the potential I our also net-net, Steve. of clients. it that saw it one liked I'll -- was bringing upsell enhance of And

it. only it allows is media you And impressions so does to what more an or immediately but to that attach algorithm, not build also

and as of side And DTC we the that Xx are the all market budgets HCP. on X to the know, the

net a effect the is positive X when to bring there you the So relative potential in together. ACV

our and and in cross-sell that So as hyper we're said, Steve into numbers much haven't of our -- baked frankly, we around mode guide.

the about progress far. So feeling good so

I'll over if with to that, has add. he Steve anything And hand it more to

Stephen Silvestro

David. Yes,

seen That's its of patient that think meaning remarks, a is activate You heard us and via their say at and And the technology, in core drive brand-eligible messaging success a OPRX. at finding brand-eligible executing core, HCP prepared patient. the DAAP, finding I patient-finding script via a we've our to lift. already the the HCP

What into Medicx to all articulate, ability And of all patient to is Will action. as the actions of of execute table, and to the directly platform gets then themselves. messaging taken, reporting, brings the the back the heard sort fed drives you another that

going sort So on to retention, is that of how the net behave? was revenue initial which your question,

run, that results but in within more data they everything Well, which programs when feeding subscriptive the that baseline are subscriptions, we're business. the basically core is nature. platform information, converting becomes Not more in to producing

occurrence renew learning natural of driven on, clients because that ROI, the as the goes improves for because time the to by And the machine that's platform. of is

why So signs. seeing see of net trickle see revenue optimistic up, that's, to probably but and I goes, early it continue we'll retention think, early how I that. you're think We'll signs

David Grossman

as target? a whether Is thoughts it over that that for time. the early have early about shakes But like have on do steady-state to some given curious you where where for sense you're So business, obviously? just a you any seeing improvement, too really think any what, NRR just out

William Febbo

goals, where were -- we hyper had of like we to sort we which get our but We that to internal internal, keep when retention. Yes. back we'd got we've obviously,

above So it go XXX year if inside should to get we the to according plan.

even So right, better what actually -- we more than article is we retention it that's we before had what just Steve where for have now were tactical.

the client. strategic more is the out within organization and of This more spread

signs better. in early hopeful. our true generally in is year very the we're good, So And business. That's QX is

about So signs. these we're excited early

David Grossman

know X us you give growth given I been the the pro forma forma but -- did sorry the just guys year, but you've have revenue for I us And pro did missed rate other provide what Great. question, you if and quarter? would this, for

William Febbo

Do to you want that? take

Edward Stelmakh

Yes. Sure.

published Q our So numbers the you'll tomorrow. see in

Once see some provided haven't into of kind we about numbers, talk So of can that details you the yet. that go we the that.

Operator

Our line next of Citizen question from the Constantine with is Davides JMP.

Constantine Davides

is. Well, are comments give and a your infrastructure. see I commercial over the just to you pretty again, infrastructure your to color in just for Maybe of expand of force you're on what some could has just sort future size leverage the us little wanted years. sales for sense if on legacy the the of a more cross-trained, there. us sales Medicx can if bit force ability it like brought you the if on wondering And the give sounds constructive that And

William Febbo

Steve that adoption we're investment can update on the team he just faster Yes, because say, on and there happened in to But But I'll leaned the anticipated. hand we've Steve, an curve oversees we than seeing the over numbers. give because you it. to

Stephen Silvestro

think able several a onboarded the been of the recruiting sellers about to good which Happy set sellers question. capture, thanks for engaging successfully with sign to. is it are via in the which that of is deliberate of new talent, around right all space. been is -- I Medicx, largest best pharma, then number. of we've actively our also XX Constantine, very is for and Part which sort up the now We're from competitive We've our acquisition to that we've the business.

we're about pretty good feeling So that.

with And in our we've engine. it commercial structured line

management of and that of they're early as folks mention HCP, you are the earlier, signs as have account then some Will to execution to on funnel grow. the have as on of focused that showing continues are sort pull-through that DTC, folks there. inside And sales focused successful well and expanding we and top both incentives, just address heard pipeline laser-focused capabilities got cross-sell we've we're which of So on

So through development really execution, of addressing focused. inception step from that that's pipeline we're where each

Constantine Davides

of on relative X and just sort of It just traditional more expand adapt talk wondering follow-up the with just structure just DAAP. your just a pharma was again, sort times the could guess involved those I that. end you contact engagements traditional of how customer but about your depth comments, an earlier if of frequency you -- for just And ultimate I versus conversations? some people of wondering there's many if by engagement? talking, lot Just you're like more sounds depth on a your could

Stephen Silvestro

Sure. Yes. not, I mean involved. is or are that roughly close several got stakeholders stakeholders. Yes, take but more happy Funny the to same, are that believe enough, you've there one. it definitely cycle the

You a strategic buyer, team. analytics buyer, an the at the manager, brand always got buyers you've there's via new and procurement a the have meaning is which table, the agency, then buyer economic and/or economic

the think, analytics with I the what success concomitantly having analytics that decided team around ROI which a team. looks governing question benefit, follow-on and is ROI, the The often Ryan's is of calculation early and to that that are sort metrics team of that table, at by like are our

the And is platform engagement, are make ability optimize every everything optimized perfectly be driving the adjustments exactly result what so things that by And an to, of end the to and our know sure how that on drive campaign. successful. fly a we we're good make driving we to that do and gives to

So to much of And stickier. also sort makes things table. have the partner it's them it as at great a

the is team revenue renewability and analytics et of of to net up. And with sort you're agency, workflow, the marketing part once again, think better. the cetera, an and everyone's retention I continues triple and team implemented the

a of of byproduct stakeholder engagement. sort that's think the I

Operator

SVB. line from comes of Stephanie with question next Our Davis the

Stephanie Davis

do top a ask, last quite so prior the mix still it I bit. revenue to seen But XX, your year. is what from that we've want improving is below to

be is mix or a there thinking SKU is DTC due path to recovery? naturally So do going to the going the some prior to that, Or forward, about either just SKU there pandemic?

William Febbo

-- was don't a the -- think -- Stephanie, think -- nicely. that's those business But because -- Will. sure, OPRX and set the going material for should didn't impact that good. work, don't mean, it's I to have combination improvement we it's Yes. I our of really is years. I medics be that on cross-sells If DAAP should pandemic-related largely, that it's pretty there's X during accelerate brand it

something into be think the and retention I they're analysts' where they're them the it. And the from investors', of net-net, of said, watch that's training the and in deep to the success perspective, -- we relative Steve all But market with and like have of it's it. as up cross-selling. running to So and cross-selling, to on thrilled kind well we're

Stephanie Davis

deals the And Helpful. that pipeline, of business? there Like book of where think highlight about of unique up then a a should are legacy anything the at I a hit compared the Is look pipeline. something Is to little that? did quicker we you lot quicker? most in Is kind how that negotiation making bad that cycle? your of revenues

William Febbo

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

Stephen Silvestro

to happy good X that Look, voice. Stephanie, consider. of I to. think -- that your are would sort things Yes, there I hear

size our to So average going you be larger know. than significantly in size, normal deal DAAP deal range is which that

the we've that. ACV So around shared already

sales top that is, of is we would the in you We're I is think to of sticky were thing our previous gain client that we're well, then of launch sort it right seeing as is XX. this traction just sales normal that's cycle not on addition other the just what spectrum cycle base. traction scale, across And tiers DAAP question revenue in kind a scale in I sort think XX place your which opposed largely as that, with a based much and that approaching the seeing gain months pretty of be. and we're I be our submit to In kind ago. now And the because to would of

that small have that, assume things the several they that smaller of about, that's accounts, looking just those the of we're in because simply and capabilities is be the the care that on major that things as really in-house, some they got mid-tier which And whereas spend is of basis marketplace. are large say a mid-tier some seeing accounts deal something that to major that for levels now think might the out as right we manufacturers. excited And in manufacturers They've and are of don't. we're taking

so several from the cost-effective much sort solution a for to investment find of it's cover time things that that them And both the can more of a a and perspective DAAP to table. is bringing

more wanted and previous on give your too. So come as of to sense that, of I spread on a to you but just the based DAAP question well,

Stephanie Davis

It Okay. you're sales safe Is sales like or answers then seeing it NRR core follow in new in is think of these legacy Well, lot I sales improvements of of from want new those to versus products? the and question. to more products products. up new in a X new NRR that attrition improvements on of there's mind, big sounds new

William Febbo

start I'll with that.

some client, that One heard things let's of we're have price they're -- when to convert programs tactical with looking at at kind DAAP more we're a they've say, to sizable are stage is even seeing obviously you the the really there. be deterioration running And more encouraging engagement where of have, the or don't program, do to these all bigger that of now a over DAAP efficient. and that's we

in engagement. of Not our the up. prices, price but sense As of fact, the it's of the considerably just a size matter

many going I 'XX I to when X we think 'XX in think So what mean, how half from days. early the positive, to lifting we see months close get it all sticky. year, legacy we'll it's relevant actually but and I we're hurting the think impact and up our it and these is tend to pretty be more to going we KPIs, and we're it's on business, not first making

that's my an solution, mean matter a different is. to to easy the do it how to of type when team. is I that no thing you're transitioning hats off great So not

mindset set. we're becoming -- and get with But client just a relevant. or often more solution in can in case, a more the this stuck meaningful, more You actually evolved

terrific. it's So

Operator

line final Our with question of the from Wood Riley is Securities. B. William

William Wood

like of So ] earlier, late-stage on. going still expectations ahead on is, that net said aesthetics you the was it looks progressing [ negotiations that are

kind for out year starting So should think in all be have I'm when just if these the negotiations that? solidify. closing been will or And if to in already extra this should of to this included curious be these of be guidance these we

William Febbo

question. -- when buy Yes. it you buy really to Thanks. you a Great We it. basically after get company, know you

we with our cross-selling 'XX very that were So did not and in assume conservative number. guidance

this pace that if be and a happens at then thing for good should than company So we anticipate, faster a guidance really clients. the the the and

And if it anticipate you in does can half. I it think happen, second the

inclusion that change, of because is only towards like same clients readjust, directed a Just where see to good second we last this that's midyear DTC. -- time reallocate, saw half of year, enhancement expect we

the first a really wouldn't much half, on the too first build impressive. The team job. count is I terrific doing pipeline but So half in is

William Wood

some at those thinking sort make want seasonality or about Got not you X first go you're And ticked I DAAP way. in year-over-year, of almost looks then the gross you've be looking But when to DAAP, it. the quarter. revenues, It's that seems basis, like EBITDA, right I so know you That's appreciated. cetera. a quarter sure it board, I'm now. up et just the down helpful. got quarter-over-quarter fourth adjusted to very at that there revenues, on across did least this

you forward, this I -- know -- to in. it just you essentially that I think that going is much. to first about came when trying we I'm so quarter, And mean, didn't fourth quarter And take as down

mind should right of throughout -- So cadence revenue my better get going then to and I'm growth year? just the get be DAAP trying the how sort of thinking the sort a of the about we on

William Febbo

over Andy XX% to than less you And is the business of XX% sure. for to XX% the But numbers. I'll Yes, hand seasonality DAAP.

of So your you've should a to a to and to DAAP to be better get historically. revenue, a scale going But active that you're but it forward. bit always you'll QX drop still rolling from have programs we we've over because see reset, of XX% more year time you as that start closer QX or seen seasonal got

You've got algorithms being updated.

sequence to when close is deals, we model first those QX the a really, there's getting built. And of the part that

see won't big you immediately. a So pop

algorithm through. that then really the it carries revenue get launching You and programs and designing

higher will business, seasonality should in So exist becomes our percentage better get as all a but of it revenue. that this

Andrew D'Silva

William, Andy. doing hope well. I it's you're

not year. from XX% just half XX% remainder. the is standpoint, call the to half and more it range XX% So so of first than going second back be first a be the our then our in typically, would half the revenue or half to overall

some So context, that's gives of scale right might I the now. where hope as we seasonality give obviously, kind cadence insight but DAAP, change, better into it's we'll at how and up that

Operator

Mr. floor to you will back turn Febbo remarks. for closing the

William Febbo

for Great. share everyone, we positive our enthusiasm continue to operator, as joining us and Thanks, thank momentum. build you, We today. trust you

As journey, on we on to embark solid we're operational financial pleased and our be progressing ground.

with our us models. collaboration manufacturers fueled nice care to and overcome health innovative helped by seen past and has challenges. This growth, Our address advancement pharma professionals really really, AI patients reach has many

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you We're you of numerous conferences next Operator? at rest the Wishing to Thanks. we'll connecting earnings a looking before forward many the attend our upcoming of great day. with investor call.

Operator

sir. Thank you,

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