Why GoodRx stock soared today

01.03.2024

Shares of GoodRx Holdings (NASDAQ: GDRX) rose 20.4% on Thursday after the company announced better-than-expected quarterly results and a new share repurchase program.

GoodRx’s fourth-quarter revenue rose 7% year-over-year to $196.6 million, resulting in adjusted (non-GAAP) net income of $31.1 million, or $0.08 per share, compared to $0.07 per share in the prior-year quarter. Analysts on average had forecast earnings of $0.07 per share on slightly lower revenue.

GoodRx ended the quarter with more than 7 million consumer prescription-related offers. Prescription revenue for the period rose 11% to $143.9 million, helped by an 8% increase in monthly active consumers. This more than offset a 6 percent decline in subscription revenue to $23.1 million – an expected decline given the termination of GoodRx’s subscription partner program with Kroger. Pharma Solutions segment revenues fell 2 percent to $24.4 million.