Why OptimizeRx (OPRX) Shares Are Plunging Today - OptimizeRx (NASDAQ:OPRX)

OptimizeRx Corp OPRX shares are down over 25% after it cut FY22 sales guidance to $62-$68 million, representing Y/Y growth of 1% - 11%, respectively, and gross margins to be between 59% - 62%.
Analysts expect the company to report FY22 sales of $81.44 million.
Earlier, the company expected FY22 sales of $80-$85 million and gross margins of 57% - 60%.
The company says that 2H 2022's outlook is driven by temporary life sciences industry challenges related to a slowdown in the number of new drug approvals, increased turnover rates at client companies, and longer sales cycles associated with larger deal sizes in the funnel.
OptimizeRx reported Q2 revenue of $13.98 million, up 3%, driven by new customer and program launches, missing the consensus of $16.87 million.
Gross margin increased to 64% from 59%, related to a more favorable channel partner and solution mix.
The company reported Q2 adjusted EPS of $0.04, missing the consensus of $0.09.
Price Action: OPRX shares are down 25.8% at $16.51 during the premarket session on the last check Wednesday.

Macro Factors Behind OptimizeRx's Weaker Than Expected Q2 Earnings, Lowers Annual Guidance