On May 10, 2023, GoodRx Holdings Inc (NASDAQ: GDRX) announced its Q1 sales of $183.99 million, which was a 10% decrease YoY. However, the company still managed to beat the consensus of $182.08 million and the management guidance of $181-183 million. The decrease in sales was primarily due to a 13% decline in Prescription Transactions Revenue (PTR) from $155.5 million to $134.9 million. This was caused by a 5% decrease in Monthly Active Consumers and a shift in the volume of prescription transactions to certain retailers with lower pricing due to the sustained impact of the grocer issue.
Despite the decrease in sales, the company reported adjusted net income of $29.52 million, which was slightly lower than the $41.33 million reported a year ago. Adjusted EBITDA also declined from $64.65 million to $53.2 million YoY. However, the company’s Q1 earnings per share of $0.07 beat the Zacks Consensus Estimate of $0.06 per share.
Unfortunately, the company’s outlook was revised downward. The company’s earnings for Q1 2023 were expected to be $0.01 per share, but the actual earnings per share were $0.07. The company’s earnings for the coming year are expected to grow by 125%, from $0.04 to $0.09 per share.
GoodRx has confirmed that its next quarterly earnings report will be published on Wednesday, May 10th, 2023.
GDRX Stock Performance on May 10, 2023: Fluctuations, Low Volume, and Future Earnings Projections
On May 10, 2023, GDRX stock opened at $4.45, which is lower than its previous close of $4.70. Throughout the day, the stock’s price fluctuated between $4.22 and $4.97. The volume for the day was 43,101, which is significantly lower than the average volume of 1,338,238 over the past three months. The market capitalization for GDRX is $1.8B.
GDRX is a technology services company in the internet software/services industry. The company’s revenue growth last year was 2.83%, while its earnings growth was -26.19%. However, the earnings growth for this year is expected to be -15.23%, and the earnings growth for the next five years is projected to be +14.68%.
The P/E ratio for GDRX is not available, but the price/sales ratio is 2.51, and the price/book ratio is 2.24.
GDRX’s net profit margin is -4.28%, which means the company is not currently profitable. However, the EPS forecast for this quarter is $0.06, which could indicate a positive turn for the company.
GDRX’s next reporting date is August 9, 2023. The company’s annual revenue last year was $766.6M.
Overall, GDRX’s stock performance on May 10, 2023, was mixed. The low volume could indicate that investors are waiting for more information before making any moves. With the next reporting date coming up in a few months, investors will be paying close attention to GDRX’s financial results to see if the company is making any progress towards profitability.
Healthcare Tech Company GoodRx Holdings Inc Sees Impressive Stock Performance and High Growth Expectations
GoodRx Holdings Inc, a leading healthcare technology company, has seen impressive stock performance in recent months. On May 10, 2023, the stock price of GoodRx Holdings Inc (GDRX) closed at $4.74, with a market capitalization of $4.26 billion. According to data from CNN Money, analysts have high expectations for its future growth, with a median target of $6.50. GoodRx Holdings Inc recently reported its Q1 2023 earnings, which showed earnings per share of $0.06 and sales of $191.7 million. The company is set to report its Q2 2023 earnings on August 09, 2023. As the company continues to expand its offerings and grow its user base, analysts are optimistic about its future growth prospects.
