GoodRx Reports Q2 Earnings With Increased Prescription Revenue But Subscription Challenges
Portfolio Pulse from Vandana Singh
GoodRx Holdings Inc. (NASDAQ:GDRX) reported Q2 revenue of $200.61 million, up 6% YoY, with prescription transactions revenue increasing by 7%. However, subscription revenue decreased by 8% due to the end of the Kroger Savings Club partnership. Adjusted EPS was 8 cents, missing the consensus of 9 cents. The company expects FY 2024 revenue at the lower end of $800M-$810M and Q3 revenue between $193M-$197M, below the consensus of $202.4M. GDRX stock is down 21.1% at $6.79.
August 08, 2024 | 4:04 pm
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NEGATIVE IMPACT
GoodRx reported Q2 revenue of $200.61M, up 6% YoY, but subscription revenue fell 8%. Adjusted EPS missed consensus. FY 2024 revenue outlook is at the lower end of $800M-$810M. Stock is down 21.1%.
The increase in overall revenue and prescription transactions is positive, but the decline in subscription revenue and missing EPS consensus are negative factors. The lower end FY 2024 revenue outlook and Q3 revenue forecast below consensus further contribute to the negative sentiment, leading to a significant drop in stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100