GoodRx Holdings Earnings Call Transcripts
Fiscal Year 2026
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Q1 saw strong revenue and profitability, led by 82% year-over-year growth in Pharma Direct and 16% growth in subscriptions. Full-year guidance was raised, with Pharma Direct expected to grow over 50% and subscriptions to continue scaling.
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Shifts in insurance coverage and pharmacy closures are driving more consumers to seek cash savings and alternative prescription solutions. Growth is led by condition-based subscriptions and manufacturer partnerships, while a new Surescripts alliance aims to boost price transparency and adherence.
Fiscal Year 2025
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Q4 and full-year 2025 results showed stable revenue and EBITDA growth, with Pharma Direct revenue up 41% year-over-year and new subscription offerings gaining traction. 2026 guidance reflects near-term revenue pressure from strategic investments, but long-term growth is expected as Pharma Direct and subscriptions scale.
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Q3 2025 delivered solid results with $196M revenue and 54% growth in manufacturer solutions, offsetting a 9% decline in prescription transaction revenue. Strategic partnerships, new affordability programs, and a strong balance sheet position the company for long-term growth.
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Q2 2025 revenue grew 1% year-over-year to $203.1M, with Pharma Manufacturer Solutions up 32%. Adjusted EBITDA margin improved to 34.2%. Guidance now includes $35–$40M revenue loss from Rite Aid and ISP headwinds, but full-year Adjusted EBITDA is expected to grow 2–6%.
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Q1 2025 revenue grew 3% to $203M, with adjusted EBITDA up 11% and strong cash reserves. Guidance for 2025 remains at 2–6% revenue growth, with Rite Aid bankruptcy impact not yet included. Strategic initiatives and deeper partnerships are expected to drive long-term growth.
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A new CEO with deep industry experience is driving strategic growth through expanded brand partnerships, enhanced provider and retail relationships, and a shift to always-on manufacturer solutions. The company is leveraging industry trends and technology integration to position itself for continued revenue and EBITDA growth.
Fiscal Year 2024
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Revenue grew 6% in 2024 to $792.3M, with Adjusted EBITDA up 20% and margin expansion to 32.8%. Guidance for 2025 anticipates 4% revenue growth at midpoint, with continued focus on expanding manufacturer partnerships, pharmacy profitability, and integrated solutions.
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Store closures and tougher pharmacy-PBM negotiations have led to a cautious single-digit growth outlook for next year. Direct contracting now covers over 30% of volume, while ISP and Pharma Manufacturer Solutions are key growth drivers. EBITDA margins and free cash flow remain strong.
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Management expects single-digit growth in 2025, with margin improvement and strong performance in Pharma Manufacturer Solutions. Direct contracting now covers over 30% of volume, and the Integrated Savings Program is expanding to off-formulary drugs. Manufacturer Solutions is driving 20% growth, especially through point-of-sale rebates.
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Q3 revenue grew 8% year-over-year, with adjusted EBITDA up 21.5% and margin expansion. Pharma Manufacturer Solutions drove strong growth, offsetting retail pharmacy headwinds, while direct contracting and ISP programs gained traction. 2025 guidance remains conservative due to industry uncertainty.
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The session highlighted growth in direct contracting, cash pay pharma deals, and Manufacturer Solutions, with Kroger's return and expanded PBM partnerships driving future upside. Focus remains on high-value users, prescriber referrals, and leveraging marketing scale for competitive advantage.
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Leadership has sharpened focus on retail partnerships, hybrid contracting, and scaling pharma solutions. Growth is driven by the Integrated Savings Program and manufacturer solutions, with strong margin expansion and disciplined capital allocation. The business is well-positioned amid pharmacy closures and evolving market dynamics.
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Q2 2024 revenue grew 6% year-over-year to $200.6M, with adjusted EBITDA up 22% and margin expanding to 32.6%. Guidance for 2024 is at the lower end of the $800M–$810M range, with growth expected to accelerate in Q4, especially in pharma manufacturer solutions.