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Dec 31, 2023
GoodRx Q4 2023 Earnings Report
Reported fourth quarter and full year 2023 results, showing revenue and adjusted revenue increased by 7% to $196.6 million, driven by prescription transactions.
Key Takeaways
GoodRx's Q4 2023 results showed a 7% increase in revenue and adjusted revenue to $196.6 million. The company reported a net loss of $25.9 million, while adjusted EBITDA reached $57.3 million. The company exited the quarter with over 7 million consumers of prescription-related offerings.
Revenue and Adjusted Revenue increased 7% to $196.6 million.
Net loss was $25.9 million, with a net loss margin of 13.2%.
Adjusted EBITDA was $57.3 million, resulting in an Adjusted EBITDA Margin of 29.1%.
The company repurchased $77.8 million in shares of Class A common stock.
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 Q1 2024, GoodRx anticipates revenue and Adjusted Revenue between $195 million and $198 million, with an Adjusted EBITDA Margin in the high twenty-percent range, potentially up to 30%. For the full year 2024, the company expects revenue and Adjusted Revenue to be approximately $800 million and Adjusted EBITDA of approximately $250 million.
Positive Outlook
- First quarter revenue and Adjusted Revenue are expected to grow by 6% to 8% year-over-year.
- Adjusted EBITDA Margin is expected to be in the high twenty-percent range, potentially up to 30% for the first quarter.
- Full year revenue and Adjusted Revenue are projected to be around $800 million.
- Adjusted EBITDA for the full year is expected to be approximately $250 million.
- Balance sheet and liquidity position remained strong.
Challenges Ahead
- Full year growth rates are tempered by the approximately $25 million topline impact associated with pharma manufacturer solutions restructuring.
- Consumer incentives are expected to reduce revenue.
- Anticipated sunset of the Kroger Savings Club will impact revenue.
- Recent system outages disclosed by UnitedHealth Group may have an impact on financials.
- The company reported a net loss of $25.9 million in Q4 2023
Revenue & Expenses
Visualization of income flow from segment revenue to net income