GoodRx Stock Tumbles After Q2 Report - Here's Why
Portfolio Pulse from Vandana Singh
GoodRx Holdings Inc (NASDAQ:GDRX) reported Q2 sales of $189.7 million, down 1% Y/Y, beating the consensus of $186.82 million. Prescription transactions revenue increased 2% to $136.5 million, while pharma manufacturer solutions revenue decreased 8% to $24.3 million. The company revised FY23 sales guidance to $750- $760 million, compared to prior guidance of $750-$775 million. GDRX shares are down 4% at $8.39.
August 09, 2023 | 1:43 pm
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GoodRx reported Q2 sales beating consensus but revised down FY23 sales guidance. Prescription transactions revenue increased, while pharma manufacturer solutions revenue decreased. GDRX shares are down 4%.
GoodRx's Q2 sales beat the consensus, which is a positive signal. However, the company revised down its FY23 sales guidance, which could be a concern for investors. The increase in prescription transactions revenue is a positive sign, but the decrease in pharma manufacturer solutions revenue could be a negative signal. The 4% drop in GDRX shares indicates that the market has reacted negatively to the news.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100