Goodrx Holdings, Inc. · NASDAQ:GDRX
Goodrx — Q3 2023 Earnings Presentation
25 slides from Goodrx's earnings presentation, Nov 9, 2023
Slide 1: Q3 2023 Earnings Presentation
Q3 2023 Earnings Presentation November 9, 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: Scott Wagner, Interim CEO
Scott Wagner Interim CEO
Slide 4: Meaningful progress made against top priorities in Q3
Meaningful progress made against top priorities in Q3 1 2 3 4 Make sure we have Hone our short- and Scale our pharma Put our combined the strongest medium-term manufacturer efforts against our network growth plans for the solutions efforts biggest core prescription opportunities, make relationships
Slide 5: We've been working to rebuild momentum in the business
“ We've been working to rebuild momentum in the business, both financially and operationally, with an eye toward compounding ” growth in 2024 and beyond. - Scott Wagner, Interim Chief Executive Officer 5
Slide 6: Meaningful progress made against top priorities in Q3
Meaningful progress made against top priorities in Q3 1 2 3 4 Make sure we have Hone our short- and Scale our pharma Put our combined the strongest medium-term manufacturer efforts against our network growth plans for the solutions efforts biggest core prescription opportunities, make relationships
Slide 7: Meaningful progress made against top priorities in Q3
Meaningful progress made against top priorities in Q3 1 2 3 4 Make sure we have Hone our short- and Scale our pharma Put our combined the strongest medium-term manufacturer efforts against our network growth plans for the solutions efforts biggest core prescription opportunities, make relationships
Slide 8: Meaningful progress made against top priorities in Q3
Meaningful progress made against top priorities in Q3 1 2 3 4 Make sure we have Hone our short- and Scale our pharma Put our combined the strongest medium-term manufacturer efforts against our network growth plans for the solutions efforts biggest core prescription opportunities, make relationships
Slide 9: Meaningful progress made against top priorities in Q3
Meaningful progress made against top priorities in Q3 1 2 3 4 Make sure we have Hone our short- and Scale our pharma Put our combined the strongest medium-term manufacturer efforts against our network growth plans for the solutions efforts biggest core prescription opportunities, make relationships
Slide 10: Karsten Voermann, CFO
Karsten Voermann CFO
Slide 11: Financials: Revenue and Adjusted Revenue
Financials Revenue1 Adjusted Revenue2 • Third quarter revenue decreased 4% year-over-year to $180.0 million • Third quarter Adjusted Revenue increased 1% year-over-year to from $187.3 million, primarily due to a $10.0 million client contract $190.0 million from $187.3 million, and represents revenue
Slide 12: Financials: Prescription Transactions and Pharma Manufacturer Solutions Revenue
Financials Prescription Transactions Revenue (PTR) Pharma Manufacturer Solutions Revenue • Third quarter PTR increased 3% year-over-year to $135.4 million due • Third quarter pharma manufacturer solutions revenue decreased 35% primarily to a 5% increase in Monthly Active Consumers (MACs) year-over-y
Slide 13: Financials: Subscription Revenue and Other Revenue
Financials Subscription Revenue Other Revenue • Third quarter subscription revenue decreased 12% year-over-year to • Third quarter other revenue increased year-over-year to $5.4 million $23.2 million, due to a a decrease in the number of subscription plans, where the decrease was primarily associate
Slide 14: Financials: Costs and Operating Expenses
Financials (dollars in millions) Q3 ‘23 Q3 ‘22 % Revenue2 (GAAP)/ % Revenue2 (GAAP)/ % Adjusted Revenue1 % Adjusted Revenue1 Costs & Operating Expenses Q3 ’23 Q3 ‘22 % Change (Adjusted) (Adjusted) Notes Increase in absolute dollars driven by personnel related costs arising from the restructuring of
Slide 15: Financials: Net Income and Adjusted Net Income
Financials Net Income (Loss) Adjusted Net Income1 • Third quarter net loss was $38.5 million compared to a net loss of • Third quarter Adjusted Net Income was $25.5 million compared to $41.7 million last year $29.9 million last year Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2022 2023 2022 2023
Slide 16: Financials: Adjusted EBITDA and Cash Flow
Financials Adjusted EBITDA1 Cash Flow • Third quarter Adjusted EBITDA was $53.5 million compared to $52.0 • Net cash provided by operating activities in the third quarter was million last year $60.3 million compared to $33.7 million in the comparable period last year, largely driven by improvements
Slide 17: Guidance
Guidance (dollars in millions) 4Q 2023 4Q 2022 Guidance Actuals % Change Revenue1 $188-$194 $184.1 2%-5% Adjusted Revenue1 $188-$194 $184.1 2%-5% Adjusted EBITDA Margin2 Mid-to-high twenty-percent range FY 2023 FY 2022 Guidance Actuals % Change Revenue1 $742-$748 $766.6 (3%)-(2%) Adjusted Revenue1 $
Slide 18: Q+A
Q+A
Slide 19: GoodRx helps Americans get the healthcare they need at a price they can afford
GoodRx helps Americans get the healthcare they need at a price they can afford.
Slide 20: Appendix
Appendix
Slide 21: Key Operating Metrics
Key Operating Metrics The following table presents Monthly Active Consumers and Subscription Plans: Three Months Ended September 30, June 30, March 31, December 31, September 30, June 30, March 31, (in millions) 2023 2023 2023 2022 2022 2022 2022 Monthly Active Consumers 6.1 6.1 6.1 5.9 5.8 5.8 6.4
Slide 22: Non-GAAP Financial Measures
Non-GAAP Financial Measures The following table presents a reconciliation of net (loss) income and revenue, the most directly comparable financial measures calculated in accordance with GAAP, to Adjusted EBITDA and Adjusted Revenue, respectively, and presents net (loss) income margin, the most direc
Slide 23: Non-GAAP Financial Measures
Non-GAAP Financial Measures The following tables present a reconciliation of net (loss) income, the most directly comparable financial measure calculated in accordance with GAAP, to Adjusted Net Income: Three Months Ended September 30, June 30, March 31, December 31, September 30, June 30, March 31,
Slide 24: Non-GAAP Financial Measures
Non-GAAP Financial Measures The following table presents a reconciliation of each non-GAAP, or adjusted, revenue, cost and expense and operating income measure to its most directly comparable financial measure calculated in accordance with GAAP: Three Months Ended September 30, September 30, (dollar
Slide 25: Definitions
Definitions • MACs (Monthly Active Consumers) – Refers to the number of unique • Savings, Saved, or other similar references - Refers to the consumers who have used a GoodRx code to purchase a prescription difference between the list price for a particular prescription at a medication in a given cal