Executive Changes - GoodRx Holdings CFO Karsten Voermann resigned effective January 16, citing personal reasons [1] - The resignation was not due to any disagreement with the company on operations, policies, or practices [2] - Chief Accounting Officer Romin Nabiey will serve as interim CFO while the company searches for a permanent successor [2] - Nabiey will also continue in his current roles as Chief Accounting Officer and Principal Accounting Officer [3] Financial Performance - GoodRx reported an 8% increase in revenue in Q3, driven by a 4% rise in prescription transactions revenue and a 7% increase in monthly active consumers [3] Strategic Initiatives - The company entered the over-the-counter market in October with a new eCommerce service, partnering with contraceptive maker Opill [5] - The eCommerce service is part of a broader strategy to integrate health and wellness brands into the platform, streamlining purchasing and increasing accessibility [5] - GoodRx and partner pharmacies began offering Affirm's pay-over-time option directly to consumers in October, allowing approved consumers to select Affirm for select medications at participating retailers [5] Leadership Vision - Interim CEO Scott Wagner emphasized the company's focus on medicine affordability and access, stating that this strategic approach has enabled GoodRx to gain market share and strengthen its value proposition [4]

Prescription fills for blockbuster weight loss drugs in the U.S. more than doubled in 2024, even with limited insurance coverage and high out-of-pocket costs for the treatments, according to data released Thursday by drug savings company GoodRx. The figures offer more evidence of the insatiable demand for a buzzy class of medications called GLP-1 and GIP agonists, which mimic gut hormones to suppress appetite and regulate blood sugar. That includes Novo Nordisk's weight loss drug Wegovy and Eli Lilly's obes ...

For the quarter ended September 2024, GoodRx Holdings, Inc. (GDRX) reported revenue of $195.25 million, up 8.5% over the same period last year. EPS came in at $0.08, compared to $0.06 in the year-ago quarter.The reported revenue represents a surprise of -0.05% over the Zacks Consensus Estimate of $195.35 million. With the consensus EPS estimate being $0.09, the EPS surprise was -11.11%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to ...

GoodRx Holdings, Inc. (GDRX) came out with quarterly earnings of $0.08 per share, missing the Zacks Consensus Estimate of $0.09 per share. This compares to earnings of $0.06 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -11.11%. A quarter ago, it was expected that this company would post earnings of $0.09 per share when it actually produced earnings of $0.08, delivering a surprise of -11.11%.Over the last four quarters, the ...

The upcoming report from GoodRx Holdings, Inc. (GDRX) is expected to reveal quarterly earnings of $0.09 per share, indicating an increase of 50% compared to the year-ago period. Analysts forecast revenues of $195.35 million, representing an increase of 8.6% year over year.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.Prior to a company's ear ...

NEW YORK, Oct. 31, 2024 (GLOBE NEWSWIRE) -- Kuehn Law, PLLC, a shareholder litigation law firm, is investigating whether certain officers and directors of GoodRx Holdings, Inc. (NASDAQ: GDRX) breached their fiduciary duties to shareholders. According to a federal securities lawsuit, GoodRx insiders caused the company to misrepresent or fail to disclose that (1) while Kroger accounted for less than 5% of the pharmacies accepting GoodRx discounts, Kroger was responsible for nearly 25% of GoodRx's total prescr ...

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NEW YORK, Sept. 25, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against GoodRx Holdings, Inc. (NASDAQ: GDRX) on behalf of long-term stockholders following a class action complaint that was filed against GoodRx on April 22, 2024 with a Class Period from September 23, 2020, to November 8, 2022. Our investigation concerns whether the board of directors of GoodRx have breached their fiduciary duties to the company. ...

Core Insights - GoodRx experienced mixed results in Q2, with an 8% increase in monthly active users and a 7% rise in prescription transactions revenue, totaling $146.7 million [1] - Overall revenue rose 6% to $200.6 million, but subscription revenue fell 8% to $22 million due to the end of the Kroger Savings Club partnership [2] Financial Performance - The company reported a total revenue of $200.6 million for Q2, with a notable decline in subscription revenue [2] - GoodRx anticipates a $5 million loss from Rite Aid's store closures, which have exceeded 650 since Rite Aid's Chapter 11 bankruptcy filing [2] Management Commentary - CFO Karsten Voermann indicated that the impact of Rite Aid's closures on revenue and prescription volume is significant but expected to stabilize over time [3] - Interim CEO Scott Wagner emphasized GoodRx's commitment to enhancing its value proposition within the pharmacy ecosystem despite short-term challenges [3] Strategic Focus - GoodRx aims to deliver affordable medication access and strengthen relationships with retail and pharmacy benefit manager partners [4] - The number of subscribers decreased from 778,000 in Q1 to 696,000 in Q2, reflecting an 8% drop [4] Market Positioning - Wagner highlighted GoodRx's role in the pharmacy ecosystem, providing value to consumers, healthcare professionals, pharmaceutical manufacturers, pharmacies, and pharmacy benefit managers [5] - In 2023, GoodRx's site and app received approximately 350 million visits, with drug price pages viewed nearly 140 million times [5] Future Opportunities - The company is considering increasing its engagement with independent pharmacies, which have not been a significant part of its platform historically [6]

Financial Data and Key Metrics Changes - Total revenue and adjusted revenue for Q2 2024 increased 6% year-over-year to $200.6 million, driven by growth in the prescriptions marketplace and pharma manufacturer solutions [21][22] - Adjusted EBITDA increased 22% year-over-year to $65.4 million, with an adjusted EBITDA margin of 32.6%, up 440 basis points year-over-year [23][31] - Net income was $6.7 million compared to $58.8 million in Q2 2023, which included a significant income tax benefit [22][23] Business Line Data and Key Metrics Changes - Prescription transactions revenue grew 7% year-over-year to $146.7 million, primarily due to an 8% increase in monthly active consumers [22] - Pharma Manufacturer Solutions revenue increased 9% year-over-year to $26.5 million, driven by organic growth and expansion in brand drug point-of-sale discount programs [22][23] - Subscriptions revenue declined 8% to $22 million due to the wind down of the Kroger Savings Club [22] Market Data and Key Metrics Changes - In 2023, GoodRx's platform saw approximately 350 million visits, with 25 million unique consumers filling prescriptions, saving about $15 billion [8] - The total out-of-pocket spend for prescription drugs in the first half of 2024 was estimated to be over $20 billion, highlighting the increasing relevance of GoodRx's services [9] Company Strategy and Development Direction - GoodRx aims to strengthen its value proposition to key constituents in the healthcare ecosystem, scale pharma manufacturer solutions, and deepen relationships with users [11][12] - The company is focusing on expanding its integrated savings program and enhancing direct contracting with retail pharmacies to improve their economics [29][30] - GoodRx is also working to embed more affordability programs directly into its platform, enhancing user experience and accessibility [56][59] Management's Comments on Operating Environment and Future Outlook - Management noted that the healthcare landscape is shifting, with increasing complexity in insurance benefit design and rising out-of-pocket costs for consumers [9][10] - The company expects to see revenue and adjusted revenue growth tempered in the short term due to ongoing pharmacy closures but anticipates a recovery as scripts migrate to other pharmacies [28][30] - For the full year 2024, GoodRx expects revenue and adjusted revenue to be at the lower end of the previously indicated range, with a focus on accelerating growth in the latter half of the year [25][30] Other Important Information - GoodRx ended Q2 2024 with $525 million in cash and cash equivalents and $657 million of outstanding debt, with a robust balance sheet [24] - The company has added senior talent from healthcare backgrounds and expanded its Board of Directors to enhance its strategic capabilities [18] Q&A Session Summary Question: Progress on HCP channel and its impact on macro - Management is increasing media assets in HCP locations and expects long-term returns from this investment, with early signs of success in individual offices [32][33] Question: Direct contracting margin profile - Direct contracting is expected to maintain margins similar to existing models, with no significant fluctuations anticipated [34][35] Question: Impact of Rite Aid store closures - Rite Aid's closures are expected to have a temporary impact on prescriptions and revenue, with efforts in place to redirect consumers to other pharmacies [40][41] Question: Uptake of Humira Biosimilar - The Humira Biosimilar program is in early stages, with expectations for future growth as more similar programs are developed [44][46] Question: ISP program feedback from PBM partners - There is positive feedback from PBM partners regarding the ISP program, with new deals signed to expand coverage to non-formulary medications [63][71]