Gross margin expanded from 62.0% to 76.5% over the period, yet revenue fell from $32.3M in Q4 2024 to $20.5M in Q2 2026 and operating margin has oscillated between -40.2% and 27.7%, suggesting operating leverage remains unproven.
OptimizeRx Corp. (OPRX) annual income statement — 19-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 |
|---|
| Sales/Revenue | 98.65M | 109.43M | 92.13M | 71.52M | 62.45M | 61.29M | 43.31M | 24.6M | 21.21M | 12.13M | 7.75M | 7.22M | 6.5M | 4.96M | 2.05M | 1.11M | 71.06K | 26.72K | 83.69K | 100.32K |
| Revenue Growth % | -5.82% | 18.78% | 28.81% | 14.53% | 1.89% | 41.51% | 76.08% | 15.99% | 74.86% | 56.45% | 7.35% | 11.04% | 31.19% | 141.96% | 84.32% | 1464.09% | 165.93% | -68.07% | -16.58% | - |
| Cost of Goods Sold | 27.48M | 40.16M | 32.75M | 28.62M | 23.48M | 25.65M | 19.21M | 9.16M | 9M | 6.17M | 3.41M | 3.62M | 3.22M | 1.77M | 115.36K | 0 | 0 | 2.65M | 0 | 0 |
| COGS % of Revenue | - | 36.7% | 35.55% | 40.02% | 37.6% | 41.86% | 44.35% | 37.23% | 42.44% | 50.91% | 44.01% | 50.16% | 49.54% | 35.66% | 5.63% | - | - | 9905.55% | - | - |
| Gross Profit | 71.17M | 69.27M | 59.38M | 42.9M | 38.97M | 35.64M | 24.11M | 15.44M | 12.21M | 5.95M | 4.34M | 3.6M | 3.28M | 3.19M | 1.93M | 1.11M | 71.06K | -2.62M | 83.69K | 100.32K |
| Gross Margin % | 72.14% | 63.3% | 64.45% | 59.98% | 62.4% | 58.14% | 55.65% | 62.77% | 57.56% | 49.09% | 55.99% | 49.84% | 50.46% | 64.34% | 94.37% | 100% | 100% | -9805.55% | 100% | 100% |
| Gross Profit Growth % | - | 16.66% | 38.41% | 10.09% | 9.34% | 47.84% | 56.13% | 26.48% | 105.06% | 37.16% | 20.61% | 9.66% | 2.88% | 64.98% | 73.94% | 1464.09% | 102.71% | -3231.15% | -16.58% | - |
| Operating Expenses | 59.88M | 57.21M | 73.08M | 69.3M | 51.26M | 35.28M | 26.24M | 19.13M | 12.03M | 8.08M | 5.87M | 4.2M | 3.91M | 2.97M | 2.41M | 2.57M | 1.92M | 2.67M | 1.59M | 456.26K |
| OpEx % of Revenue | - | 52.28% | 79.33% | 96.9% | 82.08% | 57.56% | 60.58% | 77.78% | 56.71% | 66.65% | 75.75% | 58.11% | 60.09% | 60% | 117.78% | 230.81% | 2697.95% | 10005.55% | 1902.04% | 454.81% |
| Selling, General & Admin | 45.94M | 50.24M | 61.27M | 58.02M | 49.24M | 33.19M | 19.93M | 14.36M | 10.29M | 6.75M | 5.24M | 3.32M | 3.45M | 2.78M | 2.23M | 2.57M | 1.72M | 2.4M | 0 | 0 |
| SG&A % of Revenue | - | 45.92% | 66.5% | 81.12% | 78.84% | 54.15% | 46.02% | 58.4% | 48.54% | 55.65% | 67.57% | 46% | 53.11% | 56.08% | 108.65% | 230.81% | 2420% | 8965.77% | - | - |
| Research & Development | 6.76M | 0 | 0 | 0 | 0 | 0 | 0 | 1.6M | 675.66K | 1.01M | 398.4K | 290.37K | 189.57K | 130.29K | 126.92K | 0 | 78.44K | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | 6.52% | 3.19% | 8.32% | 5.14% | 4.02% | 2.92% | 2.63% | 6.2% | - | 110.37% | - | - | - |
| Other Operating Expenses | 4M | 6.96M | 11.82M | 11.28M | 2.02M | 2.09M | 6.31M | 3.16M | 449K | 324.55K | 235.28K | 583.95K | 264.34K | 193.97K | 187.1K | 0 | 119.08K | 277.86K | 1.59M | 456.26K |
| Operating Income | 11.29M | 12.06M | -13.71M | -26.4M | -12.29M | 361.1K | -2.14M | -3.69M | 180.13K | -2.13M | -1.58M | -597.41K | -1.03M | 215.6K | -364.35K | -1.45M | -1.85M | -2.65M | -1.51M | -355.94K |
| Operating Margin % | 11.45% | 11.02% | -14.88% | -36.91% | -19.68% | 0.59% | -4.93% | -15.02% | 0.85% | -17.56% | -20.4% | -8.27% | -15.78% | 4.35% | -17.78% | -130.81% | -2597.95% | -9905.55% | -1802.04% | -354.81% |
| Operating Income Growth % | - | 188% | 48.09% | -114.81% | -3503.69% | 116.91% | 42.19% | -2150.48% | 108.46% | -34.68% | -164.73% | 41.79% | -576.03% | 159.18% | 74.94% | 21.25% | 30.25% | -75.53% | -323.68% | - |
| EBITDA | 15.58M | 16.39M | -9.38M | -24M | -10.27M | 2.33M | -59.43K | -2.41M | 496.63K | -1.81M | -1.35M | -263.46K | -761.99K | 409.39K | -177.24K | -1.31M | -1.79M | -2.61M | -1.48M | -353.12K |
| EBITDA Margin % | 15.79% | 14.98% | -10.18% | -33.56% | -16.44% | 3.8% | -0.14% | -9.8% | 2.34% | -14.89% | -17.37% | -3.65% | -11.72% | 8.26% | -8.65% | -117.74% | -2513.62% | -9783.87% | -1763.62% | -352% |
| EBITDA Growth % | 2991.67% | 274.77% | 60.93% | -133.72% | -541.39% | 4014.5% | 97.53% | -585.42% | 127.51% | -34.11% | -410.99% | 65.42% | -286.13% | 330.98% | 86.46% | 26.74% | 31.68% | -77.15% | -317.96% | - |
| D&A (Non-Cash Add-back) | 4.29M | 4.33M | 4.33M | 2.4M | 2.02M | 1.97M | 2.08M | 1.28M | 316.5K | 324.55K | 235.28K | 333.95K | 264.34K | 193.79K | 187.1K | 145.31K | 59.93K | 32.52K | 32.15K | 2.82K |
| EBIT | 11.46M | 12.24M | -13.22M | -23.71M | -11.44M | 378.08K | -1.32M | -2.69M | 787.8K | -2.13M | -1.54M | -595.14K | -1.03M | 215.85K | -454.45K | -1.16M | -1.9M | -4.55M | -4.25M | -355.94K |
| Net Interest Income | -4.34M | -4.94M | -5.83M | 738K | 852.3K | 16.98K | 68.58K | 288.03K | 46.21K | 25.94K | 42.31K | 2.27K | 935 | 246 | 369 | -957.35K | -103.71K | 29.16K | 4.48K | -5.53K |
| Interest Income | 333K | 353K | 329K | 2.19M | 852.3K | 16.98K | 68.58K | 288.03K | 46.21K | 25.94K | 42.31K | 2.27K | 935 | 246 | 469 | 1.29K | 2.84K | 30.19K | 5.09K | 0 |
| Interest Expense | 4.68M | 5.29M | 6.16M | 1.45M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 100 | 958.64K | 106.55K | 1.03K | 611 | 5.53K |
| Other Income/Expense | -4.51M | -5.11M | -5.68M | 1.24M | 852.3K | 16.98K | -71.81K | 1.45M | 46.21K | 25.94K | 42.31K | 2.27K | 935 | 246 | 369 | -666.78K | -162.79K | 738.43K | -2.74M | -5.53K |
| Pretax Income | 6.78M | 6.95M | -19.39M | -25.16M | -11.44M | 378.08K | -2.21M | -2.24M | 226.34K | -2.1M | -1.54M | -595.14K | -1.03M | 215.85K | -363.98K | -2.12M | -2.01M | -4.56M | -4.25M | -361.47K |
| Pretax Margin % | 6.87% | 6.35% | -21.04% | -35.18% | -18.32% | 0.62% | -5.1% | -9.13% | 1.07% | -17.35% | -19.86% | -8.24% | -15.77% | 4.35% | -17.77% | -190.8% | -2827.02% | -17047.82% | -5077.14% | -360.32% |
| Income Tax | 2.18M | 1.82M | 725K | -7.6M | 0 | 0 | 0 | 897.96K | 0 | 0 | 0 | 2.27K | 0 | 426 | 469 | 0 | 165.7K | 1.03K | 611 | 0 |
| Effective Tax Rate % | 32.14% | 26.16% | -3.74% | 30.19% | 0% | 0% | 0% | -40.01% | 0% | 0% | 0% | -0.38% | 0% | 0.2% | -0.13% | 0% | -8.25% | -0.02% | -0.01% | 0% |
| Net Income | 4.6M | 5.13M | -20.11M | -17.57M | -11.44M | 378.08K | -2.21M | -3.14M | 226.34K | -2.1M | -1.54M | -595.14K | -1.03M | 215.85K | -363.98K | -2.12M | -2.01M | -4.56M | -4.25M | -361.47K |
| Net Margin % | 4.66% | 4.69% | -21.83% | -24.56% | -18.32% | 0.62% | -5.1% | -12.78% | 1.07% | -17.35% | -19.86% | -8.24% | -15.77% | 4.35% | -17.77% | -190.8% | -2827.02% | -17047.82% | -5077.14% | -360.32% |
| Net Income Growth % | 146.62% | 125.52% | -14.48% | -53.57% | -3125.41% | 117.13% | 29.77% | -1488.41% | 110.76% | -36.7% | -158.63% | 41.96% | -575.06% | 159.3% | 82.84% | -5.56% | 55.9% | -7.22% | -1075.45% | - |
| Net Income (Continuing) | 4.6M | 5.13M | -20.11M | -17.57M | -11.44M | 378.08K | -2.21M | -3.14M | 226.34K | -2.1M | -1.54M | -595.14K | -1.03M | 215.85K | -454.55K | -2.12M | -2.01M | -4.56M | -4.25M | -361.47K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 0.24 | 0.27 | -1.10 | -1.03 | -0.64 | 0.02 | -0.15 | -0.23 | 0.02 | -0.21 | -0.16 | -0.07 | -0.14 | -0.06 | -0.08 | -0.46 | -0.46 | -1.09 | -1.06 | -0.10 |
| EPS Growth % | 142.99% | 124.55% | -6.8% | -60.94% | -3090.65% | 114.27% | 34.78% | -1304.19% | 109.1% | -31.25% | -120.08% | 48.07% | -133.33% | 21.88% | 83.3% | 0% | 57.8% | -2.83% | -960% | - |
| EPS (Basic) | - | 0.28 | -1.10 | -1.03 | -0.64 | 0.02 | -0.15 | -0.23 | 0.02 | -0.21 | -0.16 | -0.07 | -0.14 | -0.06 | -0.08 | -0.46 | -0.46 | -1.09 | -1.06 | -0.10 |
| Diluted Shares Outstanding | 18.79M | 19M | 18.29M | 17.12M | 17.78M | 17.69M | 14.83M | 13.39M | 11.86M | 9.82M | 9.9M | 8.19M | 7.46M | 7.07M | 4.74M | 4.64M | 4.41M | 4.19M | 4M | 3.47M |
| Basic Shares Outstanding | 18.79M | 18.56M | 18.29M | 17.12M | 17.78M | 17.23M | 14.83M | 13.39M | 11.32M | 9.82M | 9.9M | 8.19M | 7.46M | 4.8M | 4.74M | 4.64M | 4.41M | 4.19M | 4M | 3.47M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Quick answers to the most common questions about buying OPRX stock.
For fiscal year 2025, OptimizeRx Corp. (OPRX) reported total revenue of $109.4M. This represents a 108982.1% increase compared to $0.1M in 2007.
OptimizeRx Corp. (OPRX) is profitable, generating $5.1M in net income for the fiscal year ending 2025 with a net profit margin of 4.7%.
OptimizeRx Corp. (OPRX) reported an operating income of $12.1M, resulting in an operating profit margin of 11.0%. This margin reflects the operational efficiency of the business before interest and taxes.
OptimizeRx Corp. (OPRX) generated $69.3M in gross profit for the year, representing a gross profit margin of 63.3%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Volatile quarterly profitability
Metrics are mathematically derived from official filings.
Revenue Recovery Stalls After Rebound
Based on OptimizeRx's reported figures, quarterly revenue climbed from $18.8M in Q2 2024 to $32.3M in Q4 2024, but has since retreated to $20.5M in Q2 2026, signaling that the 2024-2025 growth surge has not proven durable.
The sharp year-over-year gains in 2025 were heavily concentrated in Q2 and Q4 periods, suggesting lumpy revenue recognition rather than steady demand accumulation. The most recent two quarters show year-over-year declines of roughly 30% in Q2 2026, which warrants further investigation into whether the 2025 peak reflected one-time or seasonal contributions. Investors should monitor whether revenue stabilizes near the $20M run-rate or continues to contract.
Gross Margin Expansion Masks Volatility
As reported in OptimizeRx's financial statements, gross margin improved from 62.0% in Q1 2024 to 76.5% in Q2 2026, a level that compares favorably with the 33.5% gross margin reported by peer Health Catalyst.
The gross margin trajectory indicates improving cost of revenue efficiency or a shift toward higher-margin revenue streams, though the swing from 60.9% to 74.8% across 2025 suggests mix sensitivity. Relative to Doximity's 89.1%, OPRX remains below the premium software benchmark, which may reflect a different revenue composition. The margin gain is meaningful but has not yet translated into consistent operating profit.
Operating Leverage Remains Unproven
Based on OptimizeRx's reported figures, SG&A has held near $14M to $17M per quarter while revenue ranged from $18.8M to $32.3M, leaving operating margin oscillating between -40.2% and 27.7%.
Because SG&A has not scaled down proportionally with revenue fluctuations, the company shows high fixed-cost exposure that amplifies swings in operating income. The Q4 2025 operating margin of 27.7% demonstrates the earnings power available at peak revenue, but the subsequent collapse to near breakeven in Q2 2026 suggests that cost structure has not been rightsized. Management's expense discipline appears limited until revenue stability is established.
Net Income Swings Track Revenue Timing
According to recent SEC filings, OPRX's net income moved from a $9.1M loss in Q3 2024 to a $5.0M profit in Q4 2025, with diluted EPS ranging from -$0.50 to $0.26 across the period.
The reported earnings appear closely correlated with revenue timing rather than with a stable underlying profit base, which lowers the reliability of any single-quarter EPS reading. Stock-based compensation of $1.5M to $3.0M per quarter represents a meaningful share of operating costs and may partially offset reported profitability. Investors should review whether net income excluding equity compensation would present a materially different picture.
Peak Margins May Not Be Repeatable
Based on OptimizeRx's reported figures, the Q4 2025 peak of $32.2M revenue and 27.7% operating margin was followed within two quarters by a return to $19.8M revenue and a 2.0% operating margin.
The short-seller case would focus on the possibility that the 2025 peak reflected non-recurring or timing-driven revenue rather than a durable step-up in the business. The sequential decline across Q1 and Q2 2026 is consistent with a normalization toward the 2024 base, which would imply that the growth narrative has reversed. This interpretation warrants further investigation, as the underlying drivers of revenue recognition are not fully disclosed in the supplied data.