EPS for the telemedicine firm was 6 cents in the second quarter, down from 8 cents the year before, but above the average estimate of 4 cents per share among industry analysts. GDRX’s revenue for the second quarter was $191.8 million, an increase of 8.6% year over year and a higher figure than the $184.9 million consensus estimate.
The quarter’s adjusted EBITDA was $47.2 million, down 14% year-over-year but far above the $34.8 million average projection. GDRX forecasts third-quarter sales of $185 million, which is lower than the expected $200.8 million. Q3 adjusted EBITDA is also expected to be around 20%. Despite GoodRx’s claim to have addressed its disagreement with Kroger, the firm will not be releasing financial forecasts for the next fiscal year.
According to Morgan Stanley analyst Craig Hettenbach, Kroger’s recent events have removed a stock price overhang. That might lead to further price reductions in the long run if pharmacies have more influence over customer behavior than previously thought. A $35-40 million drag predicted from Kroger in the third quarter raises doubts about “core growth and funnel conversion,” Hettenbach said in a note.
Despite the lack of clarity on future patterns, Goldman Sachs analyst Eric Sheridan maintains a Neutral rating. We believe investors will continue concentrating on the company’s growth and margin structure in the months and years ahead.” Further out, we still see GoodRx as a multi-product platform rapidly growing in a highly fragmented end market (US healthcare), delivering value to consumers and volume to its industry partners while generating a rare combination of high growth and strong margins over our five-year forecast period.”
In 2022, on August 8th GoodRx Holdings, Inc. (NASDAQ: GDRX) released its second-quarter earnings of $0.00, it fell short of analysts’ expectations by $0.04. The company’s revenue for the quarter was $191.8 million, compared to the expected $185.36 million. Q3 2022 sales estimates from GoodRx Holdings, Inc. range from $185 million to $201 million.
GoodRx is an online tool that helps people find the lowest prices on prescription drugs and helps people save on out-of-pocket medical expenses by providing discounted rates for prescription drugs directly from nationwide pharmacies.
GoodRx has a network of more than 85,000 pharmacies across the United States. In 2016, GoodRx received FDA approval for its new app, which enables people to refill their prescriptions through the app, making life a little easier for those who depend on these medications.
Investing in GoodRx: GoodRx is a NASDAQ-listed company whose stock trades under the ticker GDRX. The company has a market cap of $3.174 billion.