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GoodRx Holdings, Inc. (NASDAQ:GDRX) reported upbeat fourth-quarter FY23 results and issued first-quarter revenue guidance above estimates.
Revenue and adjusted revenue increased 7% Y/Y to $196.6 million, beating the consensus of $195.8 million. Adjusted EBITDA rose to $57.3 million from $49.6 million, led by higher prescription transactions revenue, with margin expanding to 29.1% from 26.9%. Adjusted EPS of 8 cents beat the consensus of 7 cents, according to data from Benzinga Pro.
On Feb. 27, 2024, the board of directors approved a new stock repurchase program that authorized the repurchase of up to $450 million of shares.
"We’ve locked in on creating value for consumers and ended the year strong building on our third quarter progress with accelerating momentum in the business, both financially and operationally, in the fourth quarter," said Scott Wagner, Interim Chief Executive Officer.
GoodRx expects FY24 revenue and adjusted revenue of $800 million versus a consensus of $790.53 million. It sees first-quarter FY24 revenue and adjusted revenue of $195 million-$198 million versus the consensus of $192.91 million.
GoodRx projects an adjusted EBITDA of ~$250 million in FY24 and an adjusted EBITDA margin in the high 20% range, potentially up to 30% in the first quarter.
GoodRx shares gained 20.4% to close at $7.79 on Thursday.
These analysts made changes to their price targets on GoodRx after the company reported quarterly results.
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Posted In: GDRX
