Business
GoodRx Reports First Quarter 2023 Results
First quarter financial results exceed previously announced guidance SANTA MONICA, Calif.--(BUSINESS WIRE)-- GoodRx Holdings, Inc. (Nasdaq: GDRX) (“GoodRx”
About this update from Goodrx Holdings, Inc.
[{"type":"text","content":"\nFirst quarter financial results exceed previously announced guidance\n\n\n SANTA MONICA, Calif.--(BUSINESS WIRE)--\nGoodRx Holdings, Inc. (Nasdaq: GDRX) (“GoodRx” or the “Company”), a leading digital healthcare platform, has released its financial results for the first quarter 2023.\n\n\nFirst Quarter 2023 Highlights\n\n\n\nTotal revenue of $184.0 million, exceeding previously announced guidance\n\n\n\nNet loss of $3.3 million1; Net loss margin of 1.8%\n\n\n\nAdjusted Net Income2 of $29.5 million; Adjusted Net Income Margin2 of 16.0%\n\n\n\nAdjusted EBITDA2 of $53.2 million; Adjusted EBITDA Margin2 of 28.9%, exceeding previously announced guidance\n\n\n\nNet cash provided by operating activities of $32.3 million\n\n\n\nOver 450,000 prescribers3 engaged with us through Provider Mode since its launch\n\n\n\nExited the quarter with over 7 million consumers of prescription-related offerings4\n\n\n\n“We are excited to deliver another strong quarter and further expand our impact on helping Americans get the healthcare they need at a price they can afford,” said Trevor Bezdek, Chairman of GoodRx. “The business is seeing great momentum, but we also recognize the challenges we have been facing over the past year. We are excited to welcome Scott Wagner as Interim CEO and believe this leadership transition will further accelerate our growth and performance.”\n\n\n“I’m excited to join the GoodRx team and contribute to the next leg of the company’s journey,” said Scott Wagner, Interim CEO of GoodRx. “I love the GoodRx mission and the impact we have on real people’s lives, and know that my experience helping companies deliver growth at scale can help us add even more value to both the consumers and the larger healthcare ecosystem that we serve. I look forward to helping GoodRx continue to innovate and grow in the year ahead.”\n\n\n\n\n1 Q1‘23 net loss was impacted by $25.5 million of stock-based compensation expense, $6.9 million of which related to the non-recurring awards granted to our co-founders in connection with our IPO.\n\n\n\n\n\n\n\n\n2 Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income, Adjusted Net Income Margin, and adjusted costs and operating expenses are non-GAAP financial measures and are presented for supplemental informational purposes only. Refer to the Non-GAAP Financial Measures section below for definitions,...