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Mar 31, 2023
GoodRx Q1 2023 Earnings Report
GoodRx's first quarter financial results exceeded previously announced guidance.
Key Takeaways
GoodRx's total revenue decreased by 10% to $184.0 million compared to $203.3 million. Net loss was $3.3 million compared to a net income of $12.3 million. Adjusted EBITDA was $53.2 million compared to $64.7 million.
Total revenue of $184.0 million, exceeding previously announced guidance
Net loss of $3.3 million; Net loss margin of 1.8%
Adjusted EBITDA of $53.2 million; Adjusted EBITDA Margin of 28.9%, exceeding previously announced guidance
Over 450,000 prescribers engaged with us through Provider Mode since its launch
GoodRx
GoodRx
GoodRx Revenue by Segment
Revenue by Segment
Prescription Transactions Revenue
CapyFin.comSubscription Revenue
CapyFin.comPharma Manufacturer Solutions Revenue
CapyFin.com Forward Guidance
For the second quarter and full year 2023, management is anticipating total revenue of ~$185-188 million and ~$750-775 million respectively. Adjusted EBITDA Margin is expected to be in the mid-twenty-percent range.
Positive Outlook
- Ongoing focus on driving efficiency throughout our organization
- Strengthening our ecosystem and consumer engagement
- Solid revenue and Adjusted EBITDA Margin improvement
- Strong balance sheet and liquidity position
- Generating robust operating cash flow
Challenges Ahead
- Total Revenue 2Q 2023 ~$185-188 million vs 2Q 2022 $191.8 million
- Total Revenue FY 2023 ~$750-775 million vs FY 2022 $766.6 million
- The grocer issue
- Impact of macroeconomic conditions
- Uncertainty and potential variability of stock-based compensation expense
Revenue & Expenses
Visualization of income flow from segment revenue to net income