GoodRx (GDRX) Releases Q4 Results

By Tamara Parker • Wednesday, January 10 11:59 • Permanent Link

GoodRx Holdings, Inc. (NASDAQ: GDRX) has announced its preliminary unaudited financial results for the fourth quarter and fiscal year ended December 31, 2023. The company expects its fourth quarter revenue and adjusted revenue to be in the range of $195 million to $197 million, with adjusted EBITDA margin expected to be in the upper end of the previous guidance range provided on November 9, 2023.

Karsten Voermann, Chief Financial Officer of GoodRx, expressed optimism about the company's performance, stating, "We are encouraged by the preliminary fourth quarter results and the progress we continue to make against our priorities. There is exciting work underway and we expect to build on our accelerating momentum in 2024." Voermann added, "Based on our expectations today, we're confident that first quarter and full year 2024 revenue and adjusted revenue will grow mid-single digit percentages year-over-year and adjusted EBITDA margin will be in the high twenty-percent range for both periods."

The company expects its full year 2023 revenue to be in the range of $749 million to $751 million, with adjusted revenue expected to be in the range of $759 million to $761 million. The increase in fourth quarter revenue and adjusted revenue was primarily driven by organic growth in prescription transactions revenue.

GoodRx anticipates reporting finalized financial results for the fourth quarter and full year 2023 on or about February 29, 2024.

Additionally, the company is scheduled to participate in a fireside chat at the 42nd annual J.P. Morgan Healthcare Conference on January 10, 2024, where further insights into the company's performance and outlook may be shared.

GoodRx, known as the leading destination for prescription savings, has been helping consumers save more than $65 billion since 2011 and is one of the most downloaded medical apps over the past decade.

For more information on these preliminary financial results, the company's full 8-K submission is available here.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.