Why GoodRx Stock Got Hammered Today
The stock market is in free fall right now, but it's far worse for shares of prescription-drug discounter GoodRx (NASDAQ: GDRX). The company reported financial results for the first quarter of 2022 after the market closed yesterday.
While Q1 results exceeded management's guidance, the company's forward guidance -- or lack thereof -- sparked major concerns from investors today. As of 11:30 a.m. ET, GoodRx stock is down 28% today, 76% year to date, and 84% from its all-time high in 2021.
As already mentioned, Q1 results weren't bad. Management had guided for Q1 revenue of $200 million and an adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) margin of 28% to 30%. Q1 revenue of $203 million and an adjusted EBITDA margin of 31.8% surpassed these expectations.
Source Fool.com
