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Sep 30, 2022
GoodRx Q3 2022 Earnings Report
GoodRx's third quarter results exceeded expectations and addressed the grocer issue.
Key Takeaways
GoodRx's Q3 2022 earnings report revealed a total revenue of $187.3 million, surpassing previous guidance. Despite a net loss of $41.71 million, the company saw double-digit growth in subscription and pharma manufacturer solutions platforms. The company is prioritizing profitability and cash flow.
Total revenue reached $187.3 million, exceeding prior guidance.
Net loss amounted to $41.71 million, with a net loss margin of 22.3%.
Adjusted EBITDA stood at $52.0 million, resulting in an Adjusted EBITDA Margin of 27.8%, also exceeding expectations.
Net cash provided by operating activities was $33.7 million.
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 fourth quarter, the company anticipates total revenue of approximately $175 million to $180 million and Adjusted EBITDA Margins in the low-to-mid-twenty-percent range.
Positive Outlook
- Focus on Adjusted EBITDA growth.
- Focus on margin improvement.
- Focus on cash conversion.
- Actions taken in relation to costs and expenses.
- Reprioritized spending across the business with the objective of greater efficiency.
Challenges Ahead
- Total Revenue ~$175-$180 million
- Year over year change ~(18%) - (16%)
- Includes a combined $45 million to $50 million estimated impact to prescription transactions revenue related to the previously disclosed grocer issue
- Includes continued consumer engagement efforts
- Expect Adjusted EBITDA Margins in the low-to-mid-twenty-percent range.
Revenue & Expenses
Visualization of income flow from segment revenue to net income