GoodRx Reports Mixed Q4: Pharma Strength Amid Subscription Decline, Sluggish Prescription Sales

GoodRx Holdings Inc. GDRX reported fourth-quarter revenue of $198.6 million, up slightly by 1% year over year, missing the management guidance of around $200 million and consensus of $199.75 million.

Fiscal year sales of $792.3 million came in below the guidance of around $794 million.

The company reported adjusted EPS of 9 cents, up from 8 cents a year ago, missing the consensus of 10 cents.

Q4 prescription transactions revenue increased 0.8% to $144.9 million. 2024 prescription transactions revenue increased 5% to $577.5 million, driven by an organic 7% increase in Monthly Active Consumers, including the expansion of an integrated savings program.

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GoodRx exited the fourth quarter of 2024 with over 7 million prescription-related consumers using GoodRx across prescription transactions and subscription offerings. Monthly active consumers were 6.6 million, with subscription plans of 684k.

The 2024 subscription revenue decreased by 8% to $86.5 million, primarily driven by a decrease in subscription plans due to the sunset of the partnership subscription program, Kroger Savings Club. In Q4, subscription revenue fell 10.7% to $20.68 million.

Q4 Pharma manufacturer solutions revenue jumped from $24.4 million to $28.1 million. 2024 Pharma manufacturer solutions revenue increased 26% to $107.2 million, primarily driven by organic growth as the company expands market penetration with pharma manufacturers and other customers.

Adjusted EBITDA reached $67.08 million in Q4 and $260.2 million in 2024.

Guidance: The prescription savings platform expects a fiscal year 2025 revenue outlook of $810 million—$840 million, up 2%—6% versus the consensus of $825.57 million, with adjusted EBITDA of $270 million—$286 million.

GoodRx forecasts first-quarter 2025 revenue of $201 million—$205 million, up 2%-4%, versus consensus of $202.53 million, with an adjusted EBITDA margin of about 33%.

Price Action: GDRX stock is up 4.6% at $5.12 at the last check Thursday.

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