By Brian Marckx, CFA
Q3 2013 Pre-announcement: Revenue Up 202% yoy and 14% Ahead of Our Estimate...
Yesterday (10/8/13) OptimizeRx (OPRX) pre-announced expected revenue for the third quarter ending 9/30/13. The company expects revenue of $1.37 million, which will be an increase of 202% from the same period in 2012 and is 14% better than our estimated $1.20 million. The Q3 revenue number will also crush the previous quarterly record of $1.10 million, set in Q2 of this year. The company also disclosed that there were almost 325k coupons distributed via SampleMD in the quarter, an increase of 22% from Q2 2013 and +260% from Q3 2012.
We have updated our model for the pre-announcement. We now look for full-year 2013 revenue of $4.8 million (+133% yoy), up from $4.3 million prior to the announcement. Our current year EPS estimate has moved from $0.04 to $0.05. We have also made some slight upward adjustments to our out-year revenue estimates given the moderately steeper recent ramp in growth relative to our expectations. We are maintaining our Outperform rating and $3.50/share price target.
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