Why Is Telemedicine Firm GoodRx's Stock Trading Lower Today?
Portfolio Pulse from Vandana Singh
GoodRx Holdings Inc's Q3 sales decreased 4% Y/Y to $180.0 million, primarily due to a $10.0 million contract termination payment to a client. Adjusted revenue increased 1% to $190.0 million, driven by prescription transaction revenue growth. The company exited Q3 with over 7 million consumers of prescription-related offerings. GoodRx expects FY23 adjusted revenue of $752 million-$758 million. GDRX shares are down 20.90% at $4.33.
November 09, 2023 | 6:35 pm
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GoodRx's Q3 sales decreased due to a contract termination payment, but adjusted revenue increased due to prescription transaction revenue growth. The company's FY23 adjusted revenue is expected to be between $752 million and $758 million. GDRX shares are down 20.90%.
GoodRx's Q3 sales decreased due to a contract termination payment, which negatively impacted the company's financial performance. However, the company's adjusted revenue increased due to growth in prescription transaction revenue. The company's FY23 adjusted revenue guidance is in line with consensus estimates, indicating that the company expects stable growth. Despite this, GDRX shares are down, indicating negative investor sentiment.
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