GoodRx Reports Third Quarter 2022 Results

About this update from Goodrx Holdings, Inc.

[{"type":"text","content":"\nThird quarter financial results exceed previously announced guidance\n\n SANTA MONICA, Calif.--(BUSINESS WIRE)--\nGoodRx Holdings, Inc. (Nasdaq: GDRX), a leading consumer-focused digital platform, has released its financial results for the third quarter of 2022.\n\nThird Quarter 2022 Highlights\n\n\nTotal revenue of $187.3 million, exceeding previously announced guidance\n\n\nNet loss of $41.71 million; Net loss margin of 22.3%\n\n\nAdjusted Net Income2 of $29.9 million; Adjusted Net Income Margin2 of 16.0%\n\n\nAdjusted EBITDA2 of $52.0 million; Adjusted EBITDA Margin2 of 27.8%, exceeding previously announced guidance\n\n\nNet cash provided by operating activities of $33.7 million\n\n\nOver 865,000 prescribers active on GoodRx in the last 16 months3\n\n\nExited the quarter with over 7 million consumers of prescription-related offerings4\n\n\n“We are pleased with the progress made in the third quarter despite near-term challenges,” said Doug Hirsch, co-CEO and co-founder of GoodRx. “We achieved better-than-expected results and addressed the grocer issue in August. While we continued to see some impact from the grocer issue as we expected, the third quarter was highlighted by double-digit growth in our subscription and pharma manufacturer solutions platforms. Our retail and PBM partnerships remain resilient, and we expanded and enhanced our overall ecosystem this quarter while engaging more deeply with providers and consumers as we work to improve access to affordable healthcare.”\n\n“Looking ahead, we will continue to prioritize profitability and cash flow, while efficiently expanding our core platform capabilities to scale our business, strengthen our value proposition, and leverage our strong brand to reach more consumers. I am proud of the progress the GoodRx team made this quarter, and I look forward to improving upon it over the quarters to come as we further our mission while creating value for shareholders,” concluded Hirsch.\n\n\n\n1Q3 ‘22 net loss was impacted by $29.0 million of stock-based compensation expense, $10.2 million of which related to the non-recurring co-CEOs’ awards made in connection with our IPO.\n\n\n\n\n\n2Adjusted 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 supplementa...

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