Business
GoodRx Reports Second Quarter 2024 Results
SANTA MONICA, Calif.--(BUSINESS WIRE)-- GoodRx Holdings, Inc. (Nasdaq: GDRX) ("we," "us," "our," “GoodRx,” or the “Company”), the leading prescription
About this update from Goodrx Holdings, Inc.
[{"type":"text","content":" SANTA MONICA, Calif.--(BUSINESS WIRE)--\nGoodRx Holdings, Inc. (Nasdaq: GDRX) (\"we,\" \"us,\" \"our,\" “GoodRx,” or the “Company”), the leading prescription savings platform in the U.S., has released its financial results for the second quarter of 2024.\n\n\nSecond Quarter 2024 Highlights\n\n\n\nRevenue1 and Adjusted Revenue1 of $200.6 million\n\n\n\nNet income of $6.7 million; Net income margin of 3.3%\n\n\n\nAdjusted Net Income1 of $32.4 million; Adjusted Net Income Margin1 of 16.1%\n\n\n\nAdjusted EBITDA1 of $65.4 million; Adjusted EBITDA Margin1 of 32.6%\n\n\n\nNet cash provided by operating activities of $9.7 million\n\n\n\nExited the quarter with over 7 million consumers of prescription-related offerings2\n\n\n\n“We’re proud of the progress we’re making against our key priorities, especially when it comes to strengthening our relationships with retail and PBM partners, scaling our offerings around brand medications, and deepening our relationships with patients,” said Scott Wagner, Interim Chief Executive Officer of GoodRx. “While the retail pharmacy space is experiencing a bit of choppiness, we believe GoodRx's value proposition of providing affordable access to medications has never been more important and we are creating ways to enrich that value proposition both for healthcare ecosystem partners and, most importantly, for our consumers.\"\n\n\n\n\n1\n\n\n\n\n\n\n\nAdjusted Revenue, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income, and Adjusted Net Income Margin are non-GAAP financial measures and are presented for supplemental informational purposes only. For the second quarters of 2024 and 2023, revenue, the most directly comparable financial measure calculated in accordance with GAAP, was equal to Adjusted Revenue and we expect revenue to equal Adjusted Revenue for the third quarter and full year of 2024. Revenue excluding the $10.0 million client contract termination payment represents Adjusted Revenue for the third quarter and full year 2023. Adjusted EBITDA Margin and Adjusted Net Income Margin are defined as Adjusted EBITDA and Adjusted Net Income, respectively, divided by Adjusted Revenue. Refer to the Non-GAAP Financial Measures section below for definitions, additional information, and reconciliations to the most directly comparable GAAP measures.\n\n\n\n\n\n\n\n\n2\n\n\n\n\n\n\n\nSum of Monthly ...