Why GoodRx Stock Soared Today
Shares of GoodRx Holdings (NASDAQ: GDRX) rallied by 20.4% on Thursday after the company announced stronger-than-expected quarterly results and a new stock buyback program.
In the fourth quarter, GoodRx's revenue grew 7% year over year to $196.6 million, translating to adjusted (non-GAAP) net income of $31.1 million, or $0.08 per share, up from $0.07 per share in the prior-year period. Analysts, on average, were only modeling for earnings of $0.07 per share on slightly lower revenue.
GoodRx ended the quarter with more than 7 million consumers of prescription-related offerings. Prescription transactions revenue in the period rose 11% to $143.9 million, fueled by an 8% increase in monthly active consumers. This more than offset a 6% decline in subscription revenue to $23.1 million -- an expected drop given the sunset of GoodRx's partnership subscription program with . Revenues from its pharma manufacturer solutions segment fell 2% to $24.4 million.
Source Fool.com
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