GoodRx Q2 2024 Earnings Report
Key Takeaways
GoodRx reported a 6% increase in revenue to $200.6 million for Q2 2024. Net income was $6.7 million, compared to $58.8 million in the prior year, impacted by a prior year income tax benefit. The company exited the quarter with over 7 million consumers of prescription-related offerings.
Revenue and Adjusted Revenue of $200.6 million.
Net income of $6.7 million; Net income margin of 3.3%.
Adjusted Net Income of $32.4 million; Adjusted Net Income Margin of 16.1%.
Adjusted EBITDA of $65.4 million; Adjusted EBITDA Margin of 32.6%.
GoodRx
GoodRx
Forward Guidance
For Q3 2024, GoodRx expects revenue and Adjusted Revenue between $193 million and $197 million and Adjusted EBITDA Margin of about 32%. For the full year 2024, the company expects revenue and Adjusted Revenue to be at the lower end of their previous guidance of $800 million to $810 million, including approximately $5 million of anticipated impact from Rite Aid’s store closures. For the full year, GoodRx expects over $255 million of Adjusted EBITDA, up about 17% from 2023.
Challenges Ahead
- Revenue and Adjusted Revenue between $193 million and $197 million for Q3 2024.
- Adjusted EBITDA Margin of about 32% for Q3 2024.
- Revenue and Adjusted Revenue to be at the lower end of the previous guidance of $800 million to $810 million for FY 2024.
- Includes approximately $5 million of anticipated impact from Rite Aid’s store closures for FY 2024.
- Adjusted EBITDA over $255 million for FY 2024.