Goodrx Holdings, Inc. · NASDAQ:GDRX
Goodrx — Q1 2023 Earnings Presentation
27 slides from Goodrx's earnings presentation, May 10, 2023
Slide 1: Q1 2023 Earnings Presentation
Q1 2023 Earnings Presentation May 10, 2023
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this presentation that do not relate to matters of historical fact should be considered forward-looking statements,
Slide 3: Doug Hirsch, Co-Founder & Chief Mission Officer
Doug Hirsch Co-Founder & Chief Mission Officer
Slide 4: Reflecting on GoodRx's Evolution
Reflecting on GoodRx’s Evolution 2011 2020 Today GoodRx was founded with • $55 billion cumulative the goal of finding new consumer savings1 GoodRx’s initial public ways to help consumers • 70,000+ U.S. offering access and afford the care pharmacies accept they deserve GoodRx “ Trevor and I love what
Slide 5: Trevor Bezdek, Co-Founder & Chairman
Trevor Bezdek Co-Founder & Chairman
Slide 6: Quarterly Highlights: Hybrid Strategy & Engagement Efforts
Quarterly Highlights: Hybrid Strategy & Engagement Efforts Hybrid Strategy Engagement Efforts • Formalizing relationships with our retail pharmacy • Creating more meaningful direct consumer and network to ensure stability and mutual success for all provider relationships parties • The proportion of
Slide 7: Quarterly Highlights: Consumer Savings & Express Scripts
Quarterly Highlights: Consumer Savings & Express Scripts Ability to Offer Greater Consumer Savings Express Scripts Collaboration via Discount Programs (Price Assure, Powered by GoodRx) • Ability to offer discounts at the point of sale • Collaboration allows eligible Express Scripts users to automati
Slide 8: Scott Wagner, Interim CEO
Scott Wagner Interim CEO
Slide 9: Key areas of focus as Interim CEO
As I jump in as Interim CEO, these are the key areas where we plan to focus: 1 2 3 4 ___________________________ ___________________________ ___________________________ ___________________________ Make sure we have Hone our short- and Scale our pharma Put our combined the strongest medium-term manuf
Slide 10: Karsten Voermann, CFO
Karsten Voermann CFO
Slide 11: Financials: PTR and Pharma Manufacturer Solutions Revenue
Financials Prescription Transactions Revenue (PTR) Pharma Manufacturer Solutions Revenue • First quarter PTR decreased 13% year-over-year to $134.9 • First quarter pharma manufacturer solutions revenue declined million due primarily to a 5% decrease in Monthly Active 13% year-over-year to $20.4 mill
Slide 12: Financials: Subscription and Other Revenue
Financials Subscription Revenue Other Revenue • First quarter subscription revenue increased 26% year-over-year • First quarter other revenue decreased 14% year-over-year to to $24.1 million, due primarily to the increase in the monthly $4.5 million, driven by a decrease in the number of telehealth
Slide 13: Financials: Costs & Operating Expenses
Financials (dollars in millions) Q1 ‘23 Costs & Operating Expenses Q1 ’23 Q1 ‘22 % Change % Revenue Notes Increase in outsourced and in-house Cost of Revenue $16.7 $12.3 36% 9% personnel related to consumer support and overhead costs due to the vitaCare acquisition in April 2022 Adjusted Cost of Rev
Slide 14: Financials: Net Income (Loss) and Adjusted Net Income
Financials Net Income (Loss) Adjusted Net Income1 • First quarter net loss was $3.3 million compared to net income of • First quarter Adjusted Net Income was $29.5 million compared to $12.3 million last year; impacted primarily by the previously $41.3 million last year announced grocer issue, integr
Slide 15: Financials: Adjusted EBITDA and Cash Flow
Financials Adjusted EBITDA 1 Cash Flow • First quarter Adjusted EBITDA was $53.2 million compared to • Net cash provided by operating activities in the first quarter was $64.7 million last year $32.3 million compared to $30.1 million in the comparable period last year, largely driven by a change to
Slide 16: Guidance
Guidance (dollars in millions) 2Q 2023 2Q 2022 Guidance Actuals % Change Total Revenue ~$185-188 $191.8 ~(4%) - (2%) Adjusted EBITDA Margin 1 Mid-twenty-percent range FY 2023 FY 2022 Guidance Actuals % Change Total Revenue ~$750-775 $766.6 ~(2%) - 1% Adjusted EBITDA Margin 1 Mid-twenty-percent range
Slide 17: Q+A
Q+A
Slide 18: GoodRx helps Americans get the healthcare they need
GoodRx helps Americans get the healthcare they need at a price they can afford. 18
Slide 19: Appendix
Appendix
Slide 20: Key Operating Metrics
Key Operating Metrics The following table presents Monthly Active Consumers and Subscription Plans: Three Months Ended March 31, December 31, September 30, June 30, March 31, (in millions) 2023 2022 2022 2022 2022 Monthly Active Consumers 6.1 5.9 5.8 5.8 6.4 As of March 31, December 31, September 30
Slide 21: Non-GAAP Financial Measures
Non-GAAP Financial Measures The following table presents a reconciliation of net (loss) income, the most directly comparable financial measure calculated in accordance with GAAP, to Adjusted EBITDA, and presents net (loss) income margin, the most directly comparable financial measure calculated in a
Slide 22: Non-GAAP Financial Measures
Non-GAAP Financial Measures The following tables present a reconciliation of net (loss) income, the most directly comparable financial measures calculated in accordance with GAAP, to Adjusted Net Income: Three Months Ended March 31, December 31, September 30, June 30, March 31, (dollars in thousands
Slide 23: Non-GAAP Financial Measures
Non-GAAP Financial Measures The following table presents each non-GAAP, or adjusted, cost and expense measure together with its most directly comparable financial measure calculated in accordance with GAAP, and each of these financial measures as percentage of revenue: GAAP Adjusted Three Months End
Slide 24: Non-GAAP Financial Measures
Non-GAAP Financial Measures The following table presents a reconciliation of each non-GAAP, or adjusted, cost and expense measure to its most directly comparable financial measure calculated in accordance with GAAP: Three Months Ended March 31, December March 31, (dollars in thousands) 2023 2022 202
Slide 25: GoodRx: Company Snapshot
GoodRx: Company Snapshot Trusted Ecosystem Solid Financials and Scaled Platform Consumer First Partner Cash from Ops 7M+ 90 90 $184.0M / $53.2M Prescription-related Consumer Provider 1Q23 1Q23 Consumers1 Net Promoter Score2 Net Promoter Score2 Revenue AEBITDA3 450K+ $55B+ 19/20 $32.3M Prescribers en
Slide 26: Q1 2023 Financial Data
Q1 2023 Financial Data (dollars in millions) Q1 ‘23 Q1 ‘22 Change Revenue $184.0 $203.3 (10%) Net (Loss) Income ($3.3) $12.3 (127%) Adjusted Net Income2 $29.5 $41.3 (29%) Adjusted EBITDA2 $53.2 $64.7 (18%) Net (Loss) Income Margin1 (1.8%) 6.0% (780 bps) Adjusted EBITDA Margin1, 2 28.9% 31.8% (290 bp
Slide 27: Definitions
Definitions • MACs (Monthly Active Consumers) – Refers to the number of • Savings, Saved, or other similar references - Refers to unique consumers who have used a GoodRx code to purchase the difference between the list price for a particular a prescription medication in a given calendar month and ha