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GoodRx (NASDAQ: GDRX) grows Pharma Direct and lifts 2026 outlook

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

GoodRx Holdings, Inc. reported first quarter 2026 revenue of $194.0 million, down 4% from $203.0 million a year earlier, as lower prescription transactions offset growth in other areas. Net income was $1.2 million, compared with $11.1 million, reflecting a much lower net margin of 0.6%.

Prescription transactions revenue fell 24% to $113.7 million due to fewer Monthly Active Consumers and weaker unit economics, while Pharma Direct revenue rose 82% to $52.2 million and subscription revenue grew 16% to $24.4 million. Adjusted EBITDA was $58.3 million, or a 30.0% margin.

The company generated $11.8 million of operating cash flow, ended March 31, 2026 with $235.7 million in cash and cash equivalents and $493.8 million of total debt, and repurchased 5.5 million Class A shares for $12.6 million. For full year 2026, GoodRx guides revenue to $765–$785 million versus $796.9 million in 2025 and expects Adjusted EBITDA above $235 million, raising its prior outlook.

Positive

  • None.

Negative

  • None.

Insights

GoodRx shows strong Pharma Direct growth but weaker prescription volumes and lower profitability.

GoodRx posted Q1 2026 revenue of $194.0M, a 4% decline, as prescription transactions revenue dropped 24% to $113.7M. Net income fell to $1.2M, with net margin compressing to 0.6%, while Adjusted EBITDA of $58.3M delivered a 30.0% margin.

Growth is shifting toward higher-growth segments. Pharma Direct revenue increased 82% to $52.2M, and subscription revenue rose 16% to $24.4M, helped by newer condition-specific offerings. At the same time, Monthly Active Consumers fell from 6.4 million to 5.3 million year-over-year, reflecting retail pharmacy changes and deliberate pricing decisions.

Management raised full-year 2026 guidance to revenue of $765–$785M versus $796.9M in 2025 and now expects Adjusted EBITDA above $235M. The company generated $11.8M in operating cash flow, held $235.7M in cash against $493.8M of debt as of March 31, 2026, and repurchased 5.5 million shares for $12.6M, balancing leverage, buybacks, and growth investments.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Q1 2026 revenue $194.0M Three months ended March 31, 2026; down 4% year-over-year
Q1 2026 net income $1.2M Three months ended March 31, 2026; net margin 0.6%
Q1 2026 Adjusted EBITDA $58.3M Three months ended March 31, 2026; 30.0% Adjusted EBITDA Margin
Pharma Direct revenue $52.2M Q1 2026; increased 82% from $28.6M in Q1 2025
Subscription revenue $24.4M Q1 2026; increased 16% from $21.0M in Q1 2025
Share repurchases 5.5M shares / $12.6M Class A common stock repurchased in Q1 2026
FY 2026 revenue guidance $765–$785M Full-year 2026 expected revenue vs $796.9M in 2025
Cash and debt $235.7M cash; $493.8M debt Balances as of March 31, 2026
Pharma Direct financial
"Pharma Direct revenue increased 82% to $52.2 million compared to $28.6 million"
Adjusted EBITDA financial
"Adjusted EBITDA1 of $58.3 million; Adjusted EBITDA Margin1 of 30.0%"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
Adjusted Net Income Margin financial
"Adjusted Net Income1 of $23.0 million; Adjusted Net Income Margin1 of 11.9%"
Adjusted net income margin is the share of each dollar of sales a company keeps as profit after removing one-time or unusual gains and costs, expressed as a percentage of revenue. Think of it like measuring how much of a pizza remains after cutting away a few irregular slices — it shows the company’s underlying, repeatable profitability rather than results skewed by temporary events, which helps investors compare companies and track sustainable profit trends over time.
Monthly Active Consumers financial
"Monthly Active Consumers do not include subscribers to our subscription offerings"
TrumpRx.gov regulatory
"the new government sponsored direct-to-consumer platform called “TrumpRx.gov” and other evolving federal initiatives"
Adjusted Revenue financial
"We define Adjusted Revenue for a particular period as revenue excluding client contract termination costs"
Adjusted revenue is a company's total sales figure that has been modified to exclude certain unusual or one-time items, such as large contract gains or losses, to provide a clearer picture of its regular business performance. This helps investors better understand how the company is doing on an ongoing basis, without the noise of irregular events that might temporarily inflate or deflate sales numbers.
Revenue $194.0M -4% YoY
Net income $1.2M down from $11.1M YoY
Adjusted EBITDA $58.3M down from $69.8M YoY
Adjusted Net Income $23.0M down from $34.4M YoY
Guidance

For FY 2026, revenue is expected at $765–$785M versus $796.9M in 2025, and Adjusted EBITDA is expected to be above $235M.

Understanding 8-K Material Events →
0001809519FALSE2701 Olympic BoulevardSanta MonicaCalifornia00018095192026-05-062026-05-06
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
________________________________________
FORM 8-K
________________________________________
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): May 6, 2026
________________________________________
GoodRx Holdings, Inc.
(Exact Name of Registrant as Specified in its Charter)
________________________________________
Delaware
001-39549
47-5104396
(State or Other Jurisdiction
of Incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
2701 Olympic Boulevard
Santa Monica, California
90404
(Address of Principal Executive
Offices)
(Zip Code)
Registrant’s Telephone Number, Including Area Code: (855) 268-2822
Not applicable
(Former Name or Former Address, if Changed Since Last Report)
________________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the
registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading
Symbol(s)
Name of each exchange on which registered
Class A Common Stock, $0.0001 par value per
share
GDRX
The Nasdaq Stock Market LLC
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act
of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition
period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the
Exchange Act. ☐
Item 2.02    Results of Operations and Financial Condition.
On May 6, 2026, GoodRx Holdings, Inc. (the “Company”) announced the Company’s financial results for the three months
ended March 31, 2026. The full text of the press release issued in connection with the announcement is furnished as Exhibit
99.1 to this report.
The information in Item 2.02 and Exhibit 99.1 of this Current Report on Form 8-K shall not be deemed “filed” for purposes of
Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of
that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or
the Exchange Act, except as expressly set forth by specific reference in such a filing.
Item 9.01    Financial Statements and Exhibits.
(d)Exhibits.
99.1*
Press Release, dated May 6, 2026.
104
Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.
*Furnished herewith.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned thereunto duly authorized.
GOODRX HOLDINGS, INC.
Date:
May 6, 2026
By:
/s/ Christopher McGinnis
Christopher McGinnis
Chief Financial Officer & Treasurer
Exhibit 99.1
a1.jpg
GOODRX REPORTS FIRST QUARTER 2026 RESULTS
Pharma Direct Revenue Increased 82% Year-Over-Year in the First Quarter
Company Raises Full Year 2026 Revenue and Adjusted EBITDA Expectations
SANTA MONICA, Calif. -- (May 6, 2026) -- GoodRx Holdings, Inc. (Nasdaq: GDRX) ("we," "us," "our," “GoodRx,” or the
“Company”), the leading platform for medication savings in the U.S., has released its financial results for the first quarter of
2026.
First Quarter 2026 Highlights
•Revenue of $194.0 million
•Net income of $1.2 million; Net income margin of 0.6%
•Adjusted Net Income1 of $23.0 million; Adjusted Net Income Margin1 of 11.9%
•Adjusted EBITDA1 of $58.3 million; Adjusted EBITDA Margin1 of 30.0%
•Net cash provided by operating activities of $11.8 million
“We delivered a strong start to the year, with continued momentum across our strategic growth priorities,” said Wendy
Barnes, President and Chief Executive Officer of GoodRx. “Our results demonstrate that the strategy we laid out last quarter
is working and that we are building a sustainable value proposition. We believe that momentum is driving durable growth
and increasing value for consumers and our partners.”
1.Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income, and Adjusted Net Income Margin are non-GAAP financial measures and are presented for
supplemental informational purposes only. Adjusted EBITDA Margin and Adjusted Net Income Margin are defined as Adjusted EBITDA and Adjusted Net
Income, respectively, divided by Adjusted Revenue. Refer to the Non-GAAP Financial Measures section below for definitions, additional information, and
reconciliations to the most directly comparable GAAP measures.
First Quarter 2026 Financial Overview (all comparisons are made to the same period of the prior year unless otherwise
noted):
Revenue decreased 4% to $194.0 million compared to $203.0 million.
Prescription transactions revenue decreased 24% to $113.7 million compared to $148.9 million, primarily driven by a
decrease in the number of our Monthly Active Consumers due to the broader changes in the retail pharmacy landscape
including store closures, volume reduction in one of our integrated savings programs, as well as lower unit economics which
we expect to continue in the near-term as we made deliberate decisions to favor long-term durability and certainty.
Subscription revenue increased 16% to $24.4 million compared to $21.0 million, primarily driven by the introduction of our
condition-specific subscription programs beginning in the second quarter of 2025 and a related increase in the number of
subscription plans.
Pharma Direct (formally GoodRx Pharma Direct) revenue increased 82% to $52.2 million compared to $28.6 million, driven
by organic growth as we continued to expand our market penetration with pharma manufacturers and other customers, in
particular consumer direct pricing.
Net income was $1.2 million compared to $11.1 million. Net income margin was 0.6% compared to 5.4%. Adjusted Net
Income1 was $23.0 million compared to $34.4 million.
Adjusted EBITDA1 was $58.3 million compared to $69.8 million. Adjusted EBITDA Margin1 was 30.0% compared to 34.4%.
Cash Flow and Capital Allocation
Net cash provided by operating activities in the first quarter was $11.8 million compared to $9.4 million in the comparable
period last year. As of March 31, 2026, we had cash and cash equivalents of $235.7 million and total outstanding debt of
$493.8 million.
We are focused on a disciplined approach to capital allocation, centered on furthering our mission and creating stockholder
value. Our capital allocation priorities are investing for profitable growth, paying down debt, buying back shares, and M&A
that aligns with our strategic priorities. These capital allocation priorities support our long-term growth strategy while also
providing flexibility to navigate near-term challenges.
Exhibit 99.1
a1.jpg
Share Repurchases
During the first quarter of 2026, we repurchased 5.5 million shares of Class A common stock for an aggregate of $12.6
million. As of March 31, 2026, we had $60.2 million of unused authorized share repurchase capacity under our $450.0
million share repurchase program, which does not have an expiration date.
Guidance
For the full year 2026, management is anticipating the following:
$ in millions
FY 2026
FY 2025
YoY Change
Revenue
$765 - $785
$796.9
(4%) - (1%)
Adjusted EBITDA2
> $235
“We exceeded our expectations in the first quarter, driven by strong execution across the business,” said Chris McGinnis,
Chief Financial Officer and Treasurer of GoodRx. “Pharma Direct revenue grew 82% year-over-year and subscription
revenue increased 16%. We are raising our full year guidance and remain focused on sustaining growth and maintaining
strong margins.”
2.Adjusted EBITDA is a non-GAAP financial measure and is presented for supplemental informational purposes only. We have not reconciled our Adjusted
EBITDA guidance to GAAP net income or loss because we do not provide guidance for such GAAP measure due to the uncertainty and potential variability of
stock-based compensation expense, acquired intangible assets and related amortization and income taxes, which are reconciling items between Adjusted
EBITDA and the most directly comparable GAAP measure. Because such items cannot be provided without unreasonable efforts, we are unable to provide a
reconciliation of the non-GAAP financial measure guidance to the corresponding GAAP measure. However, such items could have a significant impact on our
future GAAP net income or loss.
Investor Conference Call and Webcast
GoodRx management will host a conference call and webcast tomorrow, May 7, 2026, at 5:00 a.m. Pacific Time (8:00 a.m.
Eastern Time) to discuss the results and the Company’s business outlook.
To access the conference call, please pre-register using the following link:
https://register-conf.media-server.com/register/BI03d8d43b2f3b41dda5af69771ca7887a
Registrants will receive a confirmation with dial-in details and a unique passcode required to join.
The call will also be webcast live on the Company’s investor relations website at https://investors.goodrx.com, where
accompanying materials will be posted prior to the conference call.
Approximately one hour after completion of the live call, an archived version of the webcast will be available on the
Company’s investor relations website at https://investors.goodrx.com for at least 30 days.
Exhibit 99.1
a1.jpg
About GoodRx
GoodRx is the leading platform for medication savings in the U.S., used by nearly 25 million consumers and over one million
healthcare professionals annually. Uniquely situated at the center of the healthcare ecosystem, GoodRx connects
consumers, healthcare professionals, payers, pharmacy benefit managers, pharmaceutical manufacturers, and retail
pharmacies to make saving on medications easier. By reducing friction and inefficiencies, GoodRx helps consumers save
time and money when filling prescriptions so they can get the care they deserve. Since 2011, GoodRx has helped
Americans save over $100 billion on the cost of their medications.
GoodRx periodically posts information that may be important to investors on its investor relations website at https://
investors.goodrx.com. We intend to use our website as a means of disclosing material non-public information and for
complying with our disclosure obligations under Regulation FD. Accordingly, investors and potential investors are
encouraged to consult GoodRx’s website regularly for important information, in addition to following GoodRx’s press
releases, filings with the Securities and Exchange Commission and public conference calls and webcasts. The information
contained on, or that may be accessed through, GoodRx’s website is not incorporated by reference into, and is not a part of,
this press release.
Investor Contact
GoodRx
Aubrey Reynolds
ir@goodrx.com
Press Contact
GoodRx
Lauren Casparis
lcasparis@goodrx.com
Exhibit 99.1
a1.jpg
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of
1995. All statements contained in this press release that do not relate to matters of historical fact should be considered
forward-looking statements, including without limitation statements regarding our future results of operations and financial
position, industry and business trends, including uncertainty in the macro environment, the impact of trends impacting retail
pharmacies on our future financial results, the potential impact of the new government sponsored direct-to-consumer
platform called “TrumpRx.gov” and other evolving federal initiatives on our business, our value proposition, our business
strategy and our ability to execute on our strategic priorities including expanding manufacturer partnerships, growing
differentiated subscription offerings and strengthening retail relationships, our plans, market opportunity, ability to preserve
margin strength and long-term growth prospects, our capital allocation priorities, Pharma Direct as the future key growth
driver of our business, and the future of prescription access. These statements are neither promises nor guarantees, but
involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance
or achievements to be materially different from any future results, performance or achievements expressed or implied by the
forward-looking statements, including, but not limited to, risks related to our limited operating history and early stage of
growth; our recent growth rates may not be sustainable or indicative of future growth; our ability to achieve broad market
education and change consumer purchasing habits; our general ability to continue to attract, acquire and retain consumers
in a cost-effective manner; our significant reliance on our prescription transactions offering and ability to expand our
offerings; changes in medication pricing and the significant impact of pricing structures negotiated by industry participants;
our general inability to control the categories and types of prescriptions for which we can offer savings or discounted prices;
our reliance on a limited number of industry participants, including pharmacy benefit managers, pharmacies, and pharma
manufacturers; the competitive nature of our industry; risks related to pandemics, epidemics, or outbreak of infectious
disease; the accuracy of our estimate of our addressable market and other operational metrics; our ability to respond to
changes in the market for prescription pricing and to maintain and expand the use of GoodRx codes; our ability to maintain
positive perception of our platform or maintain and enhance our brand; risks related to any failure to maintain effective
internal control over financial reporting; risks related to use of social media, emails, text messages, and other messaging
channels as part of our marketing strategy; our dependence on our information technology systems and those of our third-
party vendors, and risks related to any failure or significant disruptions thereof; risks related to government regulation of the
internet, e-commerce, consumer data and privacy, information technology, and cybersecurity; risks related to the use of AI
and machine learning in our business; risks related to a decrease in consumer willingness to receive correspondence or any
technical, legal, or any other restrictions to send such correspondence; risks related to any failure to comply with applicable
data protection, privacy and security, advertising and consumer protection laws, regulations, standards, and other
requirements; our ability to utilize our net operating loss carryforwards and certain other tax attributes; the risk that we may
be unable to realize expected benefits from our restructuring and cost reduction efforts; our ability to attract, develop,
motivate and retain well-qualified employees; risks related to our acquisition strategy; risks related to our debt arrangements;
interruptions or delays in service on our apps or websites or any undetected errors or design faults; our reliance on third-
party platforms to distribute our platform and offerings, including software as-a-service technologies; systems failures or
other disruptions in the operations of these parties on which we depend; risks related to climate change; risks associated
with environmental sustainability and social initiatives; risks related to our intellectual property; risks related to operating in
the healthcare industry; risks related to our organizational structure; litigation related risks; our ability to accurately forecast
revenue and appropriately plan our expenses in the future; risks related to general economic factors, natural disasters, or
other unexpected events; risks related to fluctuations in our tax obligations and effective income tax rate which could
materially and adversely affect our results of operations; risks related to the healthcare reform legislation and other proposed
or future changes impacting the healthcare industry and healthcare spending, including the new platform TrumpRx, which
may adversely affect our business, financial condition and results of operations; as well as the other important factors
discussed in the section entitled “Risk Factors” of our Annual Report on Form 10-K for the fiscal year ended December 31,
2025 and in our other filings with the Securities and Exchange Commission. The forward-looking statements in this press
release are based upon information available to us as of the date of this press release, and while we believe such
information forms a reasonable basis for such statements, such information may be limited or incomplete, and our
statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially
available relevant information. These statements are inherently uncertain and investors are cautioned not to unduly rely
upon these statements. While we may elect to update such forward-looking statements at some point in the future, we
disclaim any obligation to do so, even if subsequent events cause our views to change.
Exhibit 99.1
a1.jpg
Key Operating Metrics
Monthly Active Consumers (MACs) refers to the number of unique consumers who have used a GoodRx code to purchase a
prescription medication in a given calendar month and have saved money compared to the list price of the medication. A
unique consumer who uses a GoodRx code more than once in a calendar month to purchase prescription medications is
only counted as one Monthly Active Consumer in that month. A unique consumer who uses a GoodRx code in two or three
calendar months within a quarter will be counted as a Monthly Active Consumer in each such month. Monthly Active
Consumers do not include subscribers to our subscription offerings, consumers of our Pharma Direct offering, or consumers
who use our telehealth offering. When presented for a period longer than a month, Monthly Active Consumers are averaged
over the number of calendar months in such period. Monthly Active Consumers from acquired companies are only included
beginning in the first full quarter following the acquisition. Effective January 1, 2025, Monthly Active Consumers from
acquired companies are included beginning from the acquisition date. Prior to January 1, 2025, Monthly Active Consumers
from acquired companies were only included beginning in the first full quarter following the acquisition. As our business
continues to evolve, we are reassessing the Monthly Active Consumers metric as a primary indicator of performance to
ensure it aligns with how we measure growth and profitability.
Subscription plans represent the ending subscription plan balance across our subscription offerings, GoodRx Gold,
condition-specific related subscription programs (first launched in June 2025), and RxSmartSaver+ powered by GoodRx
(launched in July 2025). For GoodRx Gold and RxSmartSaver+, each subscription plan may represent more than one
subscriber since family subscription plans may include multiple members.
Three Months Ended
(in millions)
March 31,
2026
December 31,
2025
September 30,
2025
June 30,
2025
March 31,
2025
Monthly Active Consumers
5.3
5.3
5.4
5.7
6.4
As of
(in thousands)
March 31,
2026
December 31,
2025
September 30,
2025
June 30,
2025
March 31,
2025
Subscription plans
717
674
671
668
680
Exhibit 99.1
a1.jpg
GoodRx Holdings, Inc.
Condensed Consolidated Balance Sheets (Unaudited)
(in thousands, except par values)
March 31, 2026
December 31, 2025
Assets
Current assets
Cash and cash equivalents
$235,710
$261,820
Accounts receivable, net
232,721
235,746
Prescription reimbursement assets
753,530
98,331
Prepaid expenses and other current assets
44,507
47,205
Total current assets
1,266,468
643,102
Property and equipment, net
11,742
12,268
Goodwill
430,331
430,331
Intangible assets, net
61,167
64,082
Capitalized software, net
140,191
139,261
Operating lease right-of-use assets, net
28,748
28,808
Deferred tax assets, net
53,042
57,111
Other assets
29,562
29,095
Total assets
$2,021,251
$1,404,058
Liabilities and stockholders' equity
Current liabilities
Accounts payable
$14,525
$19,405
Prescription reimbursement liabilities
750,978
130,139
Accrued expenses and other current liabilities
83,719
86,705
Current portion of debt
5,000
5,000
Operating lease liabilities, current
4,976
4,753
Total current liabilities
859,198
246,002
Debt, net
482,422
483,264
Operating lease liabilities, net of current portion
48,953
49,789
Other liabilities
8,692
8,741
Total liabilities
1,399,265
787,796
Stockholders' equity
Preferred stock, $0.0001 par value
—
—
Common stock, $0.0001 par value
34
34
Additional paid-in capital
2,031,357
2,026,802
Accumulated deficit
(1,409,405)
(1,410,574)
Total stockholders' equity
621,986
616,262
Total liabilities and stockholders' equity
$2,021,251
$1,404,058
Exhibit 99.1
a1.jpg
GoodRx Holdings, Inc.
Condensed Consolidated Statements of Operations (Unaudited)
(in thousands, except per share amounts)
Three Months Ended March 31,
2026
2025
Revenue
$194,006
$202,970
Costs and operating expenses:
Cost of revenue, exclusive of depreciation and amortization presented
separately below
20,156
13,364
Product development and technology
30,177
31,142
Sales and marketing
81,053
84,542
General and administrative
26,819
29,630
Depreciation and amortization
21,792
20,912
Total costs and operating expenses
179,997
179,590
Operating income
14,009
23,380
Other expense, net:
Interest income
1,397
3,932
Interest expense
(9,767)
(10,644)
Total other expense, net
(8,370)
(6,712)
Income before income taxes
5,639
16,668
Income tax expense
(4,470)
(5,616)
Net income
$1,169
$11,052
Earnings per share:
Basic
$0.00
$0.03
Diluted
$0.00
$0.03
Weighted average shares used in computing earnings per share:
Basic
340,531
379,196
Diluted
341,424
379,656
Stock-based compensation included in costs and operating expenses:
Cost of revenue
$52
$100
Product development and technology
4,208
5,670
Sales and marketing
4,249
5,882
General and administrative
8,000
7,522
Exhibit 99.1
a1.jpg
GoodRx Holdings, Inc.
Condensed Consolidated Statements of Cash Flows (Unaudited)
(in thousands)
Three Months Ended March 31,
2026
2025
Cash flows from operating activities
Net income
$1,169
$11,052
Adjustments to reconcile net income to net cash provided by operating
activities:
Depreciation and amortization
21,792
20,912
Amortization of debt issuance costs and discounts
462
430
Non-cash operating lease expense
925
1,086
Stock-based compensation expense
16,509
19,174
Deferred income taxes
4,069
—
Loss on operating lease asset
—
4,409
Other
798
286
Changes in operating assets and liabilities:
Accounts receivable
3,025
(14,183)
Prescription reimbursement assets (1)
(655,199)
(14,391)
Prepaid expenses and other assets (1)
2,177
904
Accounts payable
(4,945)
286
Prescription reimbursement liabilities (1)
620,839
(8,520)
Accrued expenses and other current liabilities (1)
1,744
(10,559)
Operating lease liabilities
(1,478)
(1,628)
Other liabilities
(49)
155
Net cash provided by operating activities
11,838
9,413
Cash flows from investing activities
Purchase of property and equipment
(1,136)
(142)
Acquisition
—
(30,000)
Capitalized software
(20,508)
(21,734)
Net cash used in investing activities
(21,644)
(51,876)
Cash flows from financing activities
Payments on long-term debt
(1,250)
(1,250)
Repurchases of Class A common stock
(12,567)
(99,897)
Proceeds from exercise of stock options
95
2
Employee taxes paid related to net share settlement of equity awards
(2,582)
(3,757)
Net cash used in financing activities
(16,304)
(104,902)
Net change in cash and cash equivalents
(26,110)
(147,365)
Cash and cash equivalents
Beginning of period
261,820
448,346
End of period
$235,710
$300,981
_____________________________________________________
(1)Prior to December 31, 2025, prescription reimbursement assets were presented as a component of prepaid
expenses and other current assets, and prescription reimbursement liabilities as a component of accrued expenses
and other current liabilities. Prior period amounts have been reclassified to conform to the current period
presentation. These reclassifications had no impact on previously reported cash flows provided by operating
activities.
Exhibit 99.1
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For the first quarters of 2026 and 2025, revenue comprised of the following:
(in thousands)
Three Months Ended March 31,
2026
2025
Prescription transactions revenue
$113,692
$148,923
Subscription revenue
24,393
21,017
Pharma Direct revenue
52,230
28,648
Other revenue
3,691
4,382
Total revenue
$194,006
$202,970
Exhibit 99.1
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Non-GAAP Financial Measures
Adjusted Revenue and metrics presented as a percentage of Adjusted Revenue, Adjusted EBITDA, Adjusted EBITDA
Margin, Adjusted Net Income, Adjusted Net Income Margin, and Adjusted Earnings Per Share are supplemental measures of
our performance that are not required by, or presented in accordance with, U.S. GAAP. We also present each cost and
operating expense on our condensed consolidated statements of operations on an adjusted basis to arrive at adjusted
operating income. Collectively, we refer to these non-GAAP financial measures as our “Non-GAAP Measures."
We define Adjusted Revenue for a particular period as revenue excluding client contract termination costs associated with
restructuring related activities. We exclude these costs from revenue because we believe they are not indicative of past or
future underlying performance of the business. For the current period and full year of 2025, revenue was equal to Adjusted
Revenue. In addition, we expect revenue for the full year of 2026 to equal Adjusted Revenue.
We define Adjusted EBITDA for a particular period as net income or loss before interest, taxes, depreciation and
amortization, and as further adjusted for, as applicable for the periods presented, acquisition related expenses, stock-based
compensation expense, payroll tax expense related to stock-based compensation, loss on extinguishment of debt, financing
related expenses, loss on operating lease assets, restructuring related expenses, legal settlement expenses, gain on sale of
business, and other income or expense, net. Adjusted EBITDA Margin represents Adjusted EBITDA as a percentage of
Adjusted Revenue.
We define Adjusted Net Income for a particular period as net income or loss adjusted for, as applicable for the periods
presented, amortization of intangibles related to acquisitions and restructuring activities, acquisition related expenses, stock-
based compensation expense, payroll tax expense related to stock-based compensation, loss on extinguishment of debt,
financing related expenses, loss on operating lease assets, restructuring related expenses, legal settlement expenses, gain
on sale of business, other income or expense, net, and as further adjusted for estimated income tax on such adjusted items.
Our adjusted taxes also excludes (i) the valuation allowance recorded against certain of our net deferred tax assets that was
recognized in accordance with GAAP and any subsequent releases of the valuation allowance, and (ii) all tax benefits/
expenses resulting from excess tax benefits/deficiencies in connection with stock-based compensation. Adjusted Net
Income Margin represents Adjusted Net Income as a percentage of Adjusted Revenue.
Adjusted Earnings Per Share is Adjusted Net Income attributable to common stockholders divided by weighted average
number of shares. The weighted average shares we use in computing Adjusted Earnings Per Share – basic is equal to our
GAAP weighted average shares – basic and the weighted average shares we use in computing Adjusted Earnings Per
Share – diluted is equal to either GAAP weighted average shares – basic or GAAP weighted average shares – diluted,
depending on whether we have adjusted net loss or adjusted net income, respectively.
We also assess our performance by evaluating each cost and operating expense on our condensed consolidated
statements of operations on a non-GAAP, or adjusted, basis to arrive at adjusted operating income. The adjustments to
these cost and operating expense items include, as applicable for the periods presented, acquisition related expenses,
amortization of intangibles related to acquisitions and restructuring activities, stock-based compensation expense, payroll
tax expense related to stock-based compensation, financing related expenses, restructuring related expenses, legal
settlement expenses, loss on operating lease assets, and gain on sale of business. Adjusted operating income is Adjusted
Revenue less non-GAAP costs and operating expenses.
We believe our Non-GAAP Measures are helpful to investors, analysts and other interested parties because they assist in
providing a more consistent and comparable overview of our operations across our historical financial periods. Adjusted
Revenue, Adjusted EBITDA, and Adjusted EBITDA Margin are also key measures we use to assess our financial
performance and are also used for internal planning and forecasting purposes. In addition, Adjusted Revenue, Adjusted
EBITDA, Adjusted EBITDA Margin, Adjusted Net Income, and Adjusted Earnings Per Share are frequently used by analysts,
investors and other interested parties to evaluate and assess performance.
The Non-GAAP Measures are presented for supplemental informational purposes only and should not be considered as
alternatives or substitutes to financial information presented in accordance with GAAP. These measures have certain
limitations in that they do not include the impact of certain costs that are reflected in our condensed consolidated statements
of operations that are necessary to run our business. Other companies, including other companies in our industry, may not
use these measures or may calculate these measures differently than as presented herein, limiting their usefulness as
comparative measures.
Exhibit 99.1
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The following table presents a reconciliation of net income, the most directly comparable financial measure calculated in
accordance with GAAP, to Adjusted EBITDA, and presents net income margin, the most directly comparable financial
measure calculated in accordance with GAAP, with Adjusted EBITDA Margin:
(dollars in thousands)
Three Months Ended
March 31,
2026
2025
Net income
$1,169
$11,052
Adjusted to exclude the following:
Interest income
(1,397)
(3,932)
Interest expense
9,767
10,644
Income tax expense
4,470
5,616
Depreciation and amortization
21,792
20,912
Acquisition related expenses
252
26
Restructuring related expenses
5,286
1,219
Stock-based compensation expense
16,509
19,174
Payroll tax expense related to stock-based compensation
422
685
Loss on operating lease asset
—
4,409
Adjusted EBITDA
$58,270
$69,805
Revenue
$194,006
$202,970
Net income margin
0.6%
5.4%
Adjusted EBITDA Margin
30.0%
34.4%
Exhibit 99.1
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The following tables present a reconciliation of net income and calculations of net income margin and earnings per share,
the most directly comparable financial measures calculated in accordance with GAAP, to Adjusted Net Income, Adjusted Net
Income Margin, and Adjusted Earnings Per Share, respectively:
(dollars in thousands, except per share amounts)
Three Months Ended March 31,
2026
2025
Net income
$1,169
$11,052
Adjusted to exclude the following:
Amortization of intangibles related to acquisitions and restructuring related
activities
2,915
2,793
Acquisition related expenses
252
26
Restructuring related expenses
5,286
1,219
Stock-based compensation expense
16,509
19,174
Payroll tax expense related to stock-based compensation
422
685
Loss on operating lease asset
—
4,409
Income tax effects of excluded items and adjustments for valuation allowance
and excess tax benefits/deficiencies from equity awards
(3,504)
(4,995)
Adjusted Net Income
$23,049
$34,363
Revenue
$194,006
$202,970
Net income margin
0.6%
5.4%
Adjusted Net Income Margin
11.9%
16.9%
Weighted average shares used in computing earnings per share:
Basic
340,531
379,196
Diluted
341,424
379,656
Earnings per share:
Basic
$0.00
$0.03
Diluted
$0.00
$0.03
Weighted average shares used in computing Adjusted Earnings Per Share:
Basic
340,531
379,196
Diluted
341,424
379,656
Adjusted Earnings Per Share:
Basic
$0.07
$0.09
Diluted
$0.07
$0.09
Exhibit 99.1
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The following table presents (i) each non-GAAP, or adjusted, cost and expense and operating income measure together with
its most directly comparable financial measure calculated in accordance with GAAP; and (ii) each adjusted cost and
expense and adjusted operating income as a percentage of Adjusted Revenue together with each GAAP cost and expense
and operating income as a percentage of revenue, the most directly comparable financial measure calculated in accordance
with GAAP:
(dollars in thousands)
GAAP
Adjusted
Three Months Ended
March 31,
Three Months Ended
March 31,
2026
2025
2026
2025
Cost of revenue
$20,156
$13,364
$20,084
$13,258
% of Revenue
10%
7%
10%
7%
Product development and technology
$30,177
$31,142
$22,829
$23,990
% of Revenue
16%
15%
12%
12%
Sales and marketing
$81,053
$84,542
$75,084
$78,404
% of Revenue
42%
42%
39%
39%
General and administrative
$26,819
$29,630
$17,739
$17,513
% of Revenue
14%
15%
9%
9%
Depreciation and amortization
$21,792
$20,912
$18,877
$18,119
% of Revenue
11%
10%
10%
9%
Operating income
$14,009
$23,380
$39,393
$51,686
% of Revenue
7%
12%
20%
25%
Exhibit 99.1
a1.jpg
The following table presents a reconciliation of each non-GAAP, or adjusted, cost and expense and operating income
measure to its most directly comparable financial measure calculated in accordance with GAAP:
(dollars in thousands)
Three Months Ended March 31,
2026
2025
Cost of revenue
$20,156
$13,364
Acquisition related expenses
(19)
—
Restructuring related expenses
—
(2)
Stock-based compensation expense
(52)
(100)
Payroll tax expense related to stock-based compensation
(1)
(4)
Adjusted cost of revenue
$20,084
$13,258
Product development and technology
$30,177
$31,142
Acquisition related expenses
(86)
—
Restructuring related expenses
(2,872)
(1,109)
Stock-based compensation expense
(4,208)
(5,670)
Payroll tax expense related to stock-based compensation
(182)
(373)
Adjusted product development and technology
$22,829
$23,990
Sales and marketing
$81,053
$84,542
Acquisition related expenses
(147)
—
Restructuring related expenses
(1,479)
(87)
Stock-based compensation expense
(4,249)
(5,882)
Payroll tax expense related to stock-based compensation
(94)
(169)
Adjusted sales and marketing
$75,084
$78,404
General and administrative
$26,819
$29,630
Acquisition related expenses
—
(26)
Restructuring related expenses
(935)
(21)
Stock-based compensation expense
(8,000)
(7,522)
Payroll tax expense related to stock-based compensation
(145)
(139)
Loss on operating lease asset
—
(4,409)
Adjusted general and administrative
$17,739
$17,513
Depreciation and amortization
$21,792
$20,912
Amortization of intangibles related to acquisitions and restructuring related activities
(2,915)
(2,793)
Adjusted depreciation and amortization
$18,877
$18,119
Operating income
$14,009
$23,380
Amortization of intangibles related to acquisitions and restructuring related activities
2,915
2,793
Acquisition related expenses
252
26
Restructuring related expenses
5,286
1,219
Stock-based compensation expense
16,509
19,174
Payroll tax expense related to stock-based compensation
422
685
Loss on operating lease asset
—
4,409
Adjusted operating income
$39,393
$51,686

Source: View Original Filing on SEC EDGAR

FAQ

How did GoodRx (GDRX) perform financially in Q1 2026?

GoodRx reported Q1 2026 revenue of $194.0 million, down 4% from $203.0 million a year earlier. Net income was $1.2 million with a 0.6% net margin, while Adjusted EBITDA reached $58.3 million, representing a 30.0% margin.

How did Pharma Direct and subscription revenue trend for GoodRx (GDRX) in Q1 2026?

In Q1 2026, Pharma Direct revenue increased 82% to $52.2 million, driven by deeper manufacturer penetration and consumer direct pricing. Subscription revenue grew 16% to $24.4 million, benefiting from new condition-specific subscription programs and more subscription plans.

What guidance did GoodRx (GDRX) give for full-year 2026?

For full-year 2026, GoodRx expects revenue between $765 million and $785 million, compared with $796.9 million in 2025. Management also anticipates Adjusted EBITDA above $235 million, reflecting confidence in segment mix and cost discipline despite prescription headwinds.

How much stock did GoodRx (GDRX) repurchase in Q1 2026?

During Q1 2026, GoodRx repurchased 5.5 million shares of Class A common stock for an aggregate $12.6 million. As of March 31, 2026, the company still had $60.2 million of unused authorization remaining under its $450.0 million share repurchase program.

What was GoodRx’s (GDRX) cash and debt position as of March 31, 2026?

As of March 31, 2026, GoodRx held $235.7 million in cash and cash equivalents and had $493.8 million of total outstanding debt. The balance sheet also showed total assets of $2.02 billion and total stockholders’ equity of $622.0 million.

How did GoodRx’s (GDRX) segment revenues change year over year in Q1 2026?

In Q1 2026, prescription transactions revenue fell 24% to $113.7 million, while subscription revenue rose 16% to $24.4 million. Pharma Direct revenue jumped 82% to $52.2 million, and other revenue declined modestly to $3.7 million from $4.4 million.

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