OptimizeRx Corporation (OPRX): Business Model Canvas [Dec-2025 Updated]

You're digging into the mechanics of how OptimizeRx Corporation is making money in late 2025, and honestly, the picture is far more complex than just sending simple financial messages to doctors. After two decades analyzing these plays, I see a company that has successfully transformed its business model from a basic tool into a full-stack, omnichannel commercialization platform, deeply embedded in the clinical workflow. This strategic pivot is clearly reflected in their numbers, with Top 20 pharma clients driving 56% of revenue and their 2025 revenue guidance sitting between $105 million and $109 million; it's a sophisticated play on data and access. Dive into the canvas below to see exactly how their Key Resources, like the AI-enabled Dynamic Audience Activation Platform, translate into measurable ROI for pharma and real cost savings for patients.

OptimizeRx Corporation (OPRX) - Canvas Business Model: Key Partnerships

You're looking at the core relationships that fuel OptimizeRx Corporation's engine in late 2025. These aren't just vendor agreements; they are the access points to the point-of-care and the expansion into new media channels. Honestly, the value here is in the integration and the data flow.

EHR and EMR vendors for point-of-care network access

The foundation of OptimizeRx Corporation's business remains its deep integration within the Electronic Health Record (EHR) and Electronic Medical Record (EMR) systems where physicians work. This is how they get their Dynamic Audience Activation Platform (DAAP) and Micro-Neighborhood® Targeting (MNT) data into the workflow.

As of the latest data, OptimizeRx Corporation has grown to more than 370 EHR and eRx network partnerships. This extensive network allows for point-of-prescribe access to over half of the healthcare providers (HCPs) in the U.S., translating to reach for more than 500,000 U.S. HCPs. The integration process for a new health IT platform using DAAP is relatively quick, taking about 40 hours on average to complete.

Key partners in this ecosystem include, but are not limited to, platforms like Allscripts, DrFirst, NewCrop, Quest Diagnostics, and Practice Fusion. The success of their financial messaging programs, like e-Copay offers and e-vouchers, has historically shown returns on investment ranging from 300 to 1,200 percent for many brands.

• Network Size: Over 370 EHR/eRx partnerships.
• HCP Reach: Access to over 500,000 U.S. HCPs.
• Integration Time: Approximately 40 hours for DAAP integration.

Simulmedia for linear and Connected TV (CTV) advertising reach

The partnership with Simulmedia, announced in June 2025, is a clear move to extend the reach of their precision targeting outside the traditional point-of-care channel. This collaboration makes Micro-Neighborhood® Targeting (MNT) audiences available across linear, digital, and CTV advertising.

This strategic alliance allows healthcare brands to activate clinically precise audiences across guaranteed premium TV and streaming inventory with the speed of programmatic advertising. The activation is designed to cover major TV networks-over 250+-and streaming platforms within a single buy. This directly addresses the historical limitations in linear TV buying for healthcare advertisers, such as large minimum spend thresholds.

Life sciences and pharmaceutical companies as primary clients

Life sciences and pharmaceutical companies are the core revenue generators, paying for the ability to engage HCPs and patients with timely, relevant information. OptimizeRx Corporation connects with these clients across its omnichannel platform.

The company's growth is strongly tied to these relationships. For instance, data from late 2024 indicated that revenue from Top 20 pharma clients averaged $2.7 million per client, with the top 3 clients generating $9.7 million. The company reported Q3 2025 revenue of $26.1 million, with full-year 2025 guidance set between $105 million and $109 million.

Data providers for real-world clinical and patient data feeds

While specific data provider names beyond the internal MNT technology are not explicitly detailed in the latest releases, the value proposition hinges on using real-world clinical and patient data. The MNT audience activation, which is central to the Simulmedia and Lamar partnerships, is built upon this proprietary, HIPAA-compliant targeting data. This data allows for the creation of predictive clinical profiles used across media buys.

Digital media and programmatic advertising platforms

Beyond the Simulmedia CTV partnership, OptimizeRx Corporation is expanding its reach into other non-traditional digital channels. The September 2025 partnership with Lamar Advertising Company is a key example, integrating MNT data with Lamar's nationwide Out-of-Home (OOH) network. This positions OOH advertising as a strategic, data-driven alternative for life sciences brands seeking omnichannel engagement. The Dynamic Audience Activation Platform (DAAP) itself is designed to work through DSPs (Demand-Side Platforms) like a trade desk for transactional components of messaging.

Finance: review the Q4 2025 pipeline conversion rate for DAAP integrations by end of January 2026.

OptimizeRx Corporation (OPRX) - Canvas Business Model: Key Activities

You're looking at the core engine driving OptimizeRx Corporation (OPRX)'s growth in late 2025. It's all about the technology that connects pharma marketing directly into the clinical moment.

Developing and maintaining the AI-enabled Dynamic Audience Activation Platform (DAAP)

The development focus is on the Dynamic Audience Activation Platform (DAAP), which is an AI-driven system. This platform integrates de-identified real-world data (RWD) and historical physician-level engagement data. The goal is to drive strategy on channel placement and optimize every message sent to a physician, concentrating them during the highest impact time periods.

The platform's success is evident in the financial acceleration seen through FY2025:

• Contracted revenue growth accelerated to more than 30% year-over-year as of Q2 2025.
• FY2025 revenue guidance was raised to a range of $105 million and $109 million as of Q3 2025.
• FY2026 revenue guidance was introduced in the range of $118 million to $124 million.

Integrating with over 2 million U.S. healthcare providers' workflows

The scale of integration is a primary resource for OptimizeRx Corporation (OPRX). The platform is designed to efficiently and impactfully reach a massive network of clinicians where they practice.

The reach and integration metrics are substantial:

This integration is deep, as evidenced by the platform's ability to deliver results across various channels.

Executing omnichannel marketing campaigns for life sciences brands

Key activities involve executing synchronized marketing across channels, using the AI-driven audiences to ensure relevance. The platform unifies HCP and patient targeting for a single experience.

Performance metrics from client use cases show the effectiveness of these targeted campaigns:

• Average of 25% script lift for programs running specifically in the EHR channel using dynamic audiences.
• 19% script lift/HCP for HCPs found via patient-first AI targeting.
• This compares to a 3% script lift attributed to conventional (static NPI list) targeting in specific programs.

The operational efficiency is also reflected in the gross margin improvement; Q2 2025 gross margin reached 63.8%.

Selling and cross-selling digital solutions to pharmaceutical clients

The sales activity centers on securing and expanding contracts for digital solutions like Financial Messaging, Brand and Clinical Messaging, Brand Support, and Patient Engagement. Cross-selling is fueled by demonstrating ROI and operational leverage.

Financial results for the first three quarters of 2025 show strong sales execution:

Here's the quick math on recent quarterly performance:

Management also highlighted a disciplined approach to capital, paying down $4.5 million of principal on the term loan during Q2 2025, which was $4.0 million above schedule. Cash and short-term investments stood at $19.5 million as of September 30, 2025.

Ensuring HIPAA compliance and data privacy for all patient interactions

A critical, non-negotiable activity is maintaining privacy-by-design techniques, especially given the regulatory environment. The Micro Neighborhood® Targeting technology is central to this, enabling privacy-safe data handling.

The context for this activity involves significant regulatory coverage:

• Nearly 50% of the US population was covered by state-level consumer data protection regulations as of July 2024.
• This coverage was projected to grow to 62% within 18 months from that date.

OptimizeRx Corporation (OPRX) uses its patented technology to execute nationwide campaigns while complying with these evolving state-level privacy regulations. If onboarding takes 14+ days, churn risk rises, so speed within compliance is key.

OptimizeRx Corporation (OPRX) - Canvas Business Model: Key Resources

You're looking at the core assets that make OptimizeRx Corporation (OPRX) tick as of late 2025. These aren't just abstract concepts; they are quantifiable assets driving the reported growth.

Proprietary digital point-of-care network embedded in clinical workflows

This network is the foundation, connecting the dots between life sciences and the moment of care. As of the last reported figures, OptimizeRx Corporation connects a massive footprint of prescribers and patients through this embedded technology.

• Connecting over 2 million U.S. healthcare providers (HCPs).
• Reach extends to over 240 million adults across multiple digital channels, including the core point-of-care network.
• Platform EHR reach is advanced within systems like Epic, Cerner, and Athena.

AI-enabled Dynamic Audience Activation Platform (DAAP)

The DAAP is where the intelligence meets the network. While specific platform usage rates aren't public, the financial results reflect its effectiveness in driving revenue growth.

The growth story is clear: Q3 2025 revenue was up 22% year-over-year, and contracted revenue year-to-date was up more than 30% compared to the same period last year.

Patent-protected Micro-Neighborhood Targeting (MNT) solution

The MNT solution, enhanced by the Medicx acquisition, relies on intellectual property for its privacy-compliant targeting capabilities. This technology allows for household-level consumer targeting based on zip-9 geographic disease prevalence mapping.

• OptimizeRx Corporation holds two patents specifically for ensuring HIPAA compliance related to MNT.
• The MNT platform is built on Medicx's MX# advanced identity resolution technology.

Real-world data and clinical data assets (enhanced by Medicx acquisition)

The integration of Medicx Health, acquired for $95 million in Q4 2023, significantly bolstered these assets. The combined entity was projected to have relationships with approximately 300 pharmaceutical brands, with only a modest 20% overlap in the customer base at the time of the deal.

The acquisition was expected to expand OptimizeRx Corporation's addressable footprint in life science commercial digital budgets, a segment forecasted to grow between 15% to 20% per year. As of June 30, 2025, the balance sheet showed cash, cash equivalents, and short-term investments totaling $16.6 million.

Specialized sales and technology talent focused on HealthTech

The team size reflects the operational scale needed to manage this complex network and technology stack. You're looking at a team that has grown since the end of 2024.

This count is based on the Form 10-K filing as of March 20, 2025. The company also had 18,490,385 common shares outstanding as of March 11, 2025.

Finance: draft 13-week cash view by Friday.

OptimizeRx Corporation (OPRX) - Canvas Business Model: Value Propositions

You're looking at the core value OptimizeRx Corporation (OPRX) delivers across its key customer segments as of late 2025. This isn't just about placing ads; it's about integrating into the clinical workflow to drive measurable commercial outcomes for pharma while improving the patient experience.

For Pharma: Increased script lift and brand visibility via synchronized HCP/DTC messaging

The value here is rooted in measurable performance, moving beyond simple impressions to actual prescription lift. The platform's AI-driven Dynamic Audience Activation Platform (DAAP) is central to this delivery.

• DAAP programs have demonstrated a 25% script lift on live programs as of mid-2025.
• For one Major Depressive Disorder (MDD) brand, DAAP delivered 33% higher script lift per HCP per month compared to a trigger-based approach.
• In a five-month initial program targeting rare disease patients, OptimizeRx Corporation generated a 9% demand lift per HCP exposed to the program.
• The platform identified nearly three times more brand-eligible patients per HCP per month in the MDD study than the traditional method.
• The company is reaching into a pharma digital spend ecosystem estimated to exceed $10 billion annually.

For HCPs: Real-time access to financial assistance, education, and prior authorization support

For healthcare professionals (HCPs), the value is about reducing friction at the point of care, which is critical when prescribing complex or costly therapies. This support is delivered across a network connecting over 2 MM HCPs.

• The platform provides real-time support directly within the electronic health record (EHR) workflow.
• This integration helps HCPs navigate the complex treatment landscape by offsetting limited EHR interoperability.
• The company supports approximately ~400 Brands across its network.

For Patients: Reduced cost and adherence barriers to life-changing therapies

The direct benefit to patients centers on making prescribed treatment accessible and affordable, which directly impacts adherence. The network reaches +240 MM Patients.

The tangible value proposition for patients is demonstrated through the financial support mechanisms integrated into the workflow. While specific patient cost reduction amounts aren't always public, the success in driving prescriptions implies reduced abandonment.

Bridging the patient journey gap for earlier, more effective interventions

OptimizeRx Corporation positions itself as the bridge between direct-to-consumer (DTC) and healthcare professional (HCP) strategies, aiming for earlier intervention. This is supported by their AI-driven targeting, which helps identify patients earlier in their journey.

• The platform aims to create synchronized marketing solutions that drive faster treatment decisions.
• One client goal involved creating awareness among physicians likely to see patient populations immediately after diagnosis.
• The platform utilizes AI-driven tools like DAAP and Micro-Neighborhood Targeting (MNT) for hyper-local engagement.

Measurable return on investment (ROI) for pharmaceutical marketing spend

The financial proof point for pharmaceutical clients is the return on their investment, which the company consistently reports as strong. This focus on ROI is key to capturing a greater share of the digital ecosystem spend.

The company's own financial performance reflects this value capture, with strong growth metrics supporting its market position. You can see this in their guidance:

• Reported ROI on live programs is exceeding 10 to 1.
• The average revenue per top 20 pharmaceutical manufacturer reached $3.1 million in Q3 2025, up from $2.9 million in Q3 2024.
• The company raised its FY 2025 revenue guidance to a range of $105 million to $109 million.
• FY 2025 Adjusted EBITDA guidance is set between $16 million and $19 million.
• Net Revenue Retention remained strong at 120% in Q3 2025.

Here's the quick math on their operational efficiency supporting this value delivery:

Finance: draft 13-week cash view by Friday.

OptimizeRx Corporation (OPRX) - Canvas Business Model: Customer Relationships

You're looking at how OptimizeRx Corporation (OPRX) locks in its revenue, and honestly, it's all about deep, sticky relationships with the biggest players in pharma. This isn't a transactional model; it's built on becoming a strategic extension of their commercial teams.

The core relationship centers on a high-touch, strategic partnership model specifically targeting the Top 20 pharma manufacturers. This focus drives significant per-client value. For instance, as of the third quarter of 2025, the average revenue generated from these top-tier pharmaceutical manufacturers hit $3.1 million. That's up from the $2.9 million seen in the third quarter of 2024, showing clear expansion within this critical segment.

For the very largest clients, the commitment is even deeper, which necessitates dedicated account management for those large, recurring enterprise contracts. The math here is telling: the average revenue for OptimizeRx Corporation's 5 largest customers over the last twelve months now stands at over $11 million. That kind of spend demands a dedicated team focused on maximizing their return across multiple solutions and brands.

The stickiness of these relationships is best measured by the strong net revenue retention rate of 120% as of Q3 2025. That number means that even without adding any brand-new clients, the existing customer base spent 20% more than they did the prior year. That's the power of successfully cross-selling and deepening engagement across the platform.

The efficiency supporting this high-touch service is reflected in the productivity metrics. Revenue per average full-time employee (FTE) reached $820,000 for the third quarter of 2025, a solid jump from $732,000 in the third quarter of 2024. This improvement suggests that while the top accounts get white-glove service, the underlying platform is enabling automated, self-serve platform access for certain media activations, allowing the team to scale service without linearly scaling headcount.

The commitment to client success is also visible in the platform's evolution. OptimizeRx Corporation is focused on delivering value across the full product life cycle, which requires constant refinement. This is supported by the stated goal of continuous platform updates based on client feedback and industry shifts, ensuring tools like the Dynamic Audience Activation Platform (DAAP) remain relevant.

Here's a quick look at how key customer metrics have trended:

The relationship strategy is clearly focused on embedding the platform deeper into the client's commercial operations, evidenced by the growth in average revenue per key account. You can see the focus on platform adoption through these relationship indicators:

• Deepening engagement across multi-solution, multi-brand programs.
• Driving stronger commercial performance by aligning HCP and DTC marketing.
• Focus on helping pharma manufacturers address commercialization challenges like reducing script abandonment.
• Transitioning a significant portion of business toward a more predictable subscription-based revenue model.

If onboarding takes 14+ days, churn risk rises, so the speed of value realization from these strategic partnerships is defintely key to maintaining that 120% retention.

Finance: draft 13-week cash view by Friday.

OptimizeRx Corporation (OPRX) - Canvas Business Model: Channels

You're looking at how OptimizeRx Corporation (OPRX) gets its value proposition-connecting life sciences with HCPs and patients-out to the market as of late 2025. It's a multi-pronged approach, blending deep clinical integration with broad digital and physical reach.

Proprietary digital point-of-care network (EHR/EMR systems)

This is the core engine, honestly. OptimizeRx Corporation connects over 2 million U.S. healthcare providers (HCPs) and millions of their patients directly through an intelligent technology platform embedded within its proprietary digital point-of-care network. This network lives inside the Electronic Health Record (EHR) and ePrescribing (eRx) systems, which is where the real-time engagement happens. The goal here is to deliver timely, relevant information, like financial assistance or patient education, right at the point of care decision.

Direct-to-Consumer (DTC) channels including web, social, and CTV

The company is actively bridging the gap between its HCP focus and Direct-to-Consumer (DTC) strategies using its platform. A key part of this is the market's strong adoption of the AI-enabled Dynamic Audience Activation Platform (DAAP). As of the first quarter of 2025, management noted that the shift toward a subscription-based model, which underpins these advanced tools, was translating over 5% of annual revenue into that framework. This shows a deliberate move to recurring revenue streams across their digital footprint.

Sales team focused on enterprise-level pharmaceutical commercial teams

The sales effort targets the big players, the life sciences organizations, to embed their solutions across the commercialization lifecycle. The success here is reflected in the deepening client relationships. For instance, as of the third quarter of 2025, the average revenue OptimizeRx Corporation generated from its top 20 pharmaceutical manufacturers over the last 12 months stood at over $11 million. Furthermore, the net revenue retention rate reached 121% in the trailing twelve months ending September 2025, suggesting existing enterprise clients are expanding their use of the platform significantly. That's a strong signal about the value captured through these direct, enterprise-level channels.

Here's a quick look at some of the key performance indicators and financial scale as of late 2025:

Digital media outlets and programmatic advertising exchanges

The platform's reach extends beyond the EHR into broader digital media, which is critical for omnichannel execution. The company's focus on its Dynamic Audience Activation Platform (DAAP) and Micro-Neighborhood Targeting (MNT) helps refine this digital outreach. The success of this integrated approach is evident in the contracted revenue growth, which accelerated to over 30% year-over-year in the second quarter of 2025. This growth suggests that the programmatic and digital media components are effectively capturing demand and providing visibility for the remainder of 2025.

Out-of-Home (OOH) healthcare advertising (e.g., Lamar partnership)

OptimizeRx Corporation is actively reshaping Out-of-Home (OOH) advertising for pharma marketing through a strategic partnership with Lamar Advertising Company, announced in September 2025. This channel uses the company's patented Micro-Neighborhood® Targeting (MNT) data, mapped to Lamar's nationwide inventory at the ZIP+4 level, to deliver clinically relevant messaging. The stated goal is to combine OOH's broad reach with data-driven precision, making it a measurable component of omnichannel strategies. CEO Steve Silvestro noted this partnership allows pharmaceutical brands to inform their most relevant potential patients in a privacy-compliant way.

• The OOH integration uses Micro-Neighborhood® Targeting (MNT) data.
• Lamar's inventory is mapped at the ZIP+4 level for precision.
• The partnership aims to make OOH a strategic, measurable part of the media mix.
• The company advocates OOH could become a critical DTC marketing channel by 2026.

OptimizeRx Corporation (OPRX) - Canvas Business Model: Customer Segments

You're looking at the core groups that drive the revenue for OptimizeRx Corporation as of late 2025. The customer base is clearly tiered, with a heavy reliance on the biggest players in the industry.

The most significant segment is the Large pharmaceutical and life sciences manufacturers. This group forms the bedrock of the OptimizeRx Corporation revenue base. As of the third quarter of 2025, the Top 20 pharmaceutical manufacturers accounted for 56% of total revenue. To give you a sense of scale, the full-year 2025 revenue guidance was set between $105 million and $109 million.

This concentration means that relationships with these giants are critical. We see evidence of the value derived from this segment in specific metrics reported throughout the year. For instance, the average revenue per top 20 pharmaceutical manufacturer was reported at $3.1 million for the second quarter of 2025. The Key Performance Indicator (KPI) data for Q3 2025 showed an average revenue per top 20 pharmaceutical manufacturer of $820, compared to $732 in the same period in 2024.

Here's a quick look at how the segments map out with the available data points:

The next tier includes Mid-tier pharmaceutical, biotech, and medical device companies. While the exact revenue percentage isn't broken out separately from the Top 20, these clients contribute to the overall growth, evidenced by the fact that contracted revenue was up more than 30% year-over-year in Q2 2025.

The platform's utility is rooted in its integration with Healthcare providers (HCPs) who use integrated EHR/EMR systems. OptimizeRx Corporation provides a direct channel for life sciences companies to communicate with these HCPs through this integrated technology. This forms the essential delivery mechanism for their services.

Finally, the end-users who benefit directly from the platform's patient-facing tools are Patients seeking financial assistance and clinical education. The cloud-based solution specifically supports patient adherence to medications by offering real-time access to:

• Financial assistance
• Prior authorization information
• Education materials
• Clinical information

The company's product offerings also include Patient Engagement, which directly serves this group. Finance: draft 13-week cash view by Friday.

OptimizeRx Corporation (OPRX) - Canvas Business Model: Cost Structure

You're looking at the cost side of OptimizeRx Corporation (OPRX) as of late 2025, and the numbers show a company scaling revenue while maintaining tight control over its fixed overhead, though variable costs tied to revenue are naturally high.

The Cost of Revenue (CoR) is inherently high because a significant portion of OptimizeRx Corporation (OPRX)'s revenue is tied to fees paid to channel partners-the networks that provide access to the point-of-care-and costs associated with data licensing necessary to fuel the platform.

We can see this in the gross margin performance. For the second quarter of 2025, revenue hit $29.2 million, with gross profit reaching $18.6 million, translating to a gross margin of 63.8%. By the third quarter of 2025, the margin improved further to 67.2%, suggesting better leverage or a shift in revenue mix toward higher-margin offerings like subscriptions.

Here's a quick look at the Q2 2025 cost components implied by the top-line results:

The company's commitment to its technology foundation, which includes the Dynamic Audience Activation Platform (DAAP) and other AI tools, requires substantial, ongoing investment. While specific line items for technology development and AI platform maintenance aren't broken out separately from total operating expenses, the successful execution and raised guidance for 2025 suggest these investments are material and necessary to maintain the competitive moat.

Sales and marketing expenses, necessary to acquire and grow relationships with pharma clients, are embedded within the total operating expenses. The company has shown operational discipline, which is a key focus area for management.

You can see this discipline clearly in the overhead management:

• Operating expenses were flat at $15.4 million year-over-year in Q2 2025, despite revenue growing 55% year-over-year to $29.2 million. Total operating expenses for Q2 2025 were reported as $15,446 thousand.
• This flat OpEx trend highlights management's focus on operational leverage, though some noted this flatlining might not be sustainable long-term given the revenue acceleration.

Personnel costs are a dynamic element, directly reflecting performance incentives. We see clear evidence of this in the third quarter of 2025 results:

• Cash Operating Expenses (OpEx) increased to $12.4 million in Q3 2025 from $10.8 million in Q3 2024.
• This increase was attributed 'largely due to higher bonus and commission payouts,' which ties directly to the company's strong year-to-date performance.

Finance: draft 13-week cash view by Friday.

OptimizeRx Corporation (OPRX) - Canvas Business Model: Revenue Streams

You're looking at how OptimizeRx Corporation converts its value proposition-connecting life sciences companies with healthcare professionals (HCPs) and patients through technology-into actual cash flow as of late 2025. The revenue generation is clearly multi-faceted, moving beyond simple transaction fees toward more durable, recurring models.

The core of the revenue streams for OptimizeRx Corporation centers on its digital platform access and the services built around it. You can break down the sources of income into a few key buckets:

• Digital health messaging and advertising fees from life sciences companies.
• Subscription and usage-based fees for platform access and data services.
• Managed service revenue from custom campaign execution.

The shift toward more predictable income is a key strategic theme. OptimizeRx projects a move towards a subscription-based model, which, as of Q1 2025, was already translating to over 5% of annual revenue. This indicates a growing base of recurring revenue, which analysts generally value higher than purely transactional income. The total addressable market remains large, with pharma's digital spend estimated to exceed $10 billion annually, giving OptimizeRx Corporation significant room to grow its share of that spend.

The company's execution in the first nine months of 2025 has been strong enough to warrant raising the full-year outlook. For instance, Q3 2025 revenue hit $26.1 million, a 22% increase year-over-year. This momentum underpins the updated guidance you need to model against.

Here's the quick math on the latest official financial outlook for the full-year 2025:

The revenue streams are directly tied to the success of their digital engagement tools. For example, management has highlighted sharp cross-selling strategies focused on helping customers optimize budget allocation to drive script lift, which feeds into the managed service revenue component. Furthermore, the growth in contracted revenue provides solid visibility, having shown significant year-over-year gains, which is a good sign for revenue stability heading into 2026.

To give you a sense of recent performance driving this outlook, Q3 2025 Adjusted EBITDA was $5.1 million, up from $2.7 million in the year-ago period. This demonstrates that the revenue growth is translating efficiently to the bottom line, which is what supports the higher Adjusted EBITDA guidance range of $16 million to $19 million for the full year.

Finance: draft 13-week cash view by Friday.