Loading...
•
Mar 31, 2024
GoodRx Q1 2024 Earnings Report
GoodRx reported its Q1 2024 financial results, showing revenue growth and progress towards becoming a 'Rule of 40' company.
Key Takeaways
GoodRx's Q1 2024 results showed positive momentum with revenue increasing by 8% to $197.9 million. The company is focused on reigniting growth and strengthening its business model, aiming to return to being a 'Rule of 40' company.
Revenue and Adjusted Revenue reached $197.9 million, an 8% increase year-over-year.
Net loss was $1.0 million, with a net loss margin of 0.5%.
Adjusted EBITDA was $62.8 million, resulting in an Adjusted EBITDA Margin of 31.7%.
The company exited the quarter with approximately 8 million consumers of prescription-related offerings.
Revenue by Segment
Forward Guidance
For Q2 2024, GoodRx anticipates revenue and Adjusted Revenue of approximately $200 million and an Adjusted EBITDA Margin in the low thirty-percent range. For the full year 2024, the company is raising its guidance for revenue and Adjusted Revenue to be between $800 million and $810 million and expects to achieve over $250 million of Adjusted EBITDA.
Positive Outlook
- Revenue and Adjusted Revenue are expected to grow by approximately 5% year-over-year in Q2 2024.
- Full year revenue and Adjusted Revenue guidance raised to $800 million - $810 million.
- Adjusted EBITDA for the full year is expected to be over $250 million, up about 15% from 2023.
- Balance sheet and liquidity position remained strong in Q1 2024.
- Prioritizing cash conversion and disciplined capital deployment to support strategic priorities and accelerate value creation.
Challenges Ahead
- Full year growth rate tempered by approximately $15 million of top-line impact associated with the de-prioritization of vitaCare.
- Anticipated sunset of the Kroger Savings Club is expected to impact revenue.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...